Company: HIG-PG
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000874766-25-000084
Chunk: 168

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-07-28
Form: 10-Q
Item: Item 1
Chunk 168
---
 partnerships and other alternative investments of $16 and $13 for the three months ended June 30, 2024 and 2025 respectively.Net investment income increased primarily due to the impact of higher invested assets and reinvesting at higher interest rates, partially offset by a lower yield on variable-rate securities.Net realized losses improved primarily due to fewer net losses on sales of fixed maturities. Also included were valuation improvements on equity securities, partially offset by valuation declines on equity derivatives, due to higher equity market levels.For further discussion of investment results, see MD&A - Investment Results, Net Realized Gains and MD&A - Investment Results, Net Investment Income.

62

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

Benefits, Losses and Expenses

Losses and LAE Incurred for P&CBenefits, losses and loss adjustment expenses increased $51 due to:•An increase in Property & Casualty of $50, which was attributable to: –An increase in P&C CAY loss and LAE before catastrophes of $190, before tax, primarily due to the effect of higher earned premiums, partially offset by a lower underlying loss and LAE ratio in Personal Insurance.Partially offset by:–A favorable change of $72, before tax, in P&C net prior accident year reserve development, with development in the 2025 period of $187, compared to $115 in the prior year period. Favorable prior year reserve development in the 2025 period was primarily driven by decreases in reserves related to workers' compensation, catastrophes, bond, commercial property, homeowners, and Personal Insurance automobile liability and physical damage. Favorable prior year reserve development in the 2024 period was primarily driven by decreases in reserves related to workers' compensation, catastrophes, bond, Personal Insurance automobile liability, and homeowners, partially offset by increases in reserves for general liability, assumed reinsurance, and Business Insurance automobile liability. Also included within net prior accident year reserve development for the three months ended June 30, 2025 and 2024 was a benefit of $24 and $37, respectively, related to amortization of the Navigators ADC deferred gain. For further discussion, see Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements; and–A decrease in CAY catastrophe losses of $68, before tax. Catastrophe losses in 202