Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 336

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 8
Chunk 336
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paid 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 securities, at fair value570 0.9 %603 1.0 %Mortgage loans (net of allowance for credit losses ("ACL") of $49 and $44)6,619 10.6 %6,396 10.8 %Limited partnerships and other alternative investments5,560 8.9 %5,042 8.5 %Other investments [1]206 0.3 %226 0.4 %Short-term investments4,219 6.8 %4,068 6.9 %Total investments$62,568 100.0 %$59,210 100.