Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1049

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1C
Chunk 1049
---
 ratio56.5 56.5 56.4 — 0.1 Current accident year catastrophes3.8 3.7 4.2 0.1 (0.5)Prior accident year development(1.8)(1.9)(2.2)0.1 0.3 Total loss and loss adjustment expense ratio58.5 58.3 58.4 0.2 (0.1)Loss and loss adjustment expense ratio58.5 58.3 58.4 0.2 (0.1)Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:Current accident year catastrophes and prior year development(2.0)(1.8)(2.0)(0.2)0.2 Underlying loss and loss adjustment expense ratio56.5 56.5 56.4 — 0.1 

72

|Table of ContentsIndex to MD&APart II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

Net Income Year ended December 31, 2024 compared to the year ended December 31, 2023Net income increased primarily due to higher net investment income, lower net realized losses and a higher underwriting gain. For further discussion of investment results, see MD&A - Investment Results.Underwriting Gain Year ended December 31, 2024 compared to the year ended December 31, 2023Underwriting gain increased due to the effect of earned premium growth and slightly higher favorable prior accident year development, including $145 of a benefit for amortization of a deferred gain on the Navigators ADC in the current year period.Expense ratio increased modestly as higher staffing costs, including higher incentive compensation and benefits costs, and higher commissions were largely offset by the impact of higher earned premium.

73

|Table of ContentsIndex to MD&APart II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

Earned Premiums[1]Other of $46, $52 and $57 for 2022, 2023 and 2024, respectively, is included in the total.Written Premiums[1]Other written premiums of $46, $52 and $58 for the year ended December 31, 2022, 2023 and 2024, respectively, is included in the total.Year ended December