Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1703

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 1703
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 originate from maturities and sales of invested assets. The Company’s insurance operations consist of property and casualty insurance products (collectively referred to as “Property & Casualty Operations”) and Employee Benefits products.The Company's insurance operations hold fixed maturity securities, including a significant short-term investment position (securities with maturities of one year or less at the time of purchase), to meet liquidity needs. Liquidity requirements that are unable to be funded by the Company's insurance operations' short-term investments would be satisfied with current operating funds, including premiums or investing cash flows, which includes proceeds received through the sale of invested assets. A sale of invested assets could result in significant realized losses.The following tables represent the fixed maturity holdings, including the aforementioned cash and short-term investments available to meet liquidity needs, for each of the Company’s insurance operations.Property & CasualtyAs ofDecember 31, 2024Fixed maturities$34,675 Short-term investments2,075 Cash148 Less: Derivative collateral64 Total$36,834 Property & Casualty operations invested assets also include $212 in equity securities, $4.8 billion in mortgage loans and $4.0 billion in limited partnerships and other alternative investments.Employee Benefits OperationsAs ofDecember 31, 2024Fixed maturities$8,013 Short-term investments389 Cash26 Less: Derivative collateral16 Total$8,412 Employee Benefits operations invested assets also include $46 in equity securities, $1.6 billion in mortgage loans and $1.1 billion in limited partnerships and other alternative investments.The primary uses of funds are to pay claims, claim adjustment expenses, commissions and other underwriting and insurance operating costs, to pay taxes, to purchase new investments and to make dividend payments to the HIG Holding Company.Property & Casualty reserves for unpaid losses and loss adjustment expenses as of December 31, 2024 were $36.4 billion and net of reinsurance and other recoverables were $29.7 billion. Reserves for Property & Casualty unpaid losses and loss adjustment expenses include case reserves and IBNR reserves. The ultimate amount to be paid to settle both case and IBNR reserves is an estimate, subject to significant uncertainty. The actual amount to be paid is not finally determined until the Company reaches a settlement with the claimant. Final claim settlements may vary significantly from the present estimates, particularly since many claims will not be settled until well into the future. For a discussion of The Hartford’s judgment in estimating reserves