Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 177

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 1
Chunk 177
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 year reserve development in the 2024 period was primarily driven by decreases in reserves related to workers' compensation, catastrophes, bond, Personal Insurance automobile physical damage, homeowners, and Personal Insurance automobile liability, partially offset by increases in reserves for general liability, Business Insurance automobile liability, and assumed reinsurance. Also included within net prior accident year reserve development for the nine months ended September 30, 2025 and 2024 was a benefit of $64 and $87, respectively, related to amortization of the Navigators ADC deferred gain, which has been fully amortized as of September 30, 2025. For further discussion, see Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

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Table of ContentsIndex to MD&A Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

•Employee Benefits losses and LAE were flat as a lower group life loss ratio, reflecting reduced mortality, and improved results on the paid family and medical leave product due to pricing actions were offset by a higher long-term disability loss ratio. The increase in long-term disability was driven by a benefit in the prior year related to an update to the long-term disability claim recovery rate assumptions and slightly higher current-year loss trends.Amortization of deferred policy acquisition costs increased from the prior year period primarily driven by Business Insurance, reflecting an increase in earned premiums across all lines of business.Insurance operating costs and other expenses increased due to:•Higher staffing costs, including higher incentive compensation and benefits costs, partly in response to increased business volume;•Higher technology costs, including increased investment;•An increase in doubtful accounts expense partly due to higher business volume;•Higher direct marketing costs in Personal Insurance; and•Higher commissions and taxes, licenses and fees due to increased business volume in P&C and a slightly higher commission ratio in Employee Benefits due to mix of business.Income tax expense increased primarily due to an increase in income before tax. For further discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

Investment Results

Composition of Invested AssetsSeptember 30, 2025December 31, 2024AmountPercentAmountPercentFixed maturities, AFS, at fair value$45,203 72.2 %$42,567 71.9 %FVO securities191 0.3 %308 0.5 %Equity