Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 15

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 2
Chunk 15
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,074 $761 41%$2,689 $2,242 20 %

Three months ended September 30, 2025 compared to 2024 

Net income available to common stockholders increased by $313, primarily driven by:•An increase in P&C underwriting gain of $274, before tax, driven by lower CAY catastrophe losses, the effect of earned premium growth, a higher level of net favorable prior accident year reserve development, and a lower underlying loss and LAE ratio in Personal Insurance, partially offset by a higher underlying loss and LAE ratio in Business Insurance; and•Higher net investment income of $100, before tax, driven by higher income from limited partnerships and other alternative investments, the impact of higher invested assets, and reinvesting at higher interest rates, slightly offset by a lower yield on variable-rate securities.These increases were partially offset by:•In Employee Benefits, the impact of a higher expense ratio, including higher staffing and technology costs, and a higher long-term disability loss ratio, partially offset by a lower group life loss ratio and a lower loss ratio on the paid family and medical leave product.For a discussion of the Company's operating results by segment, see MD&A - Reportable Segment And Corporate Operating Summaries.

61

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

RevenueEarned PremiumsEarned premiums increased by $359 or 6%, primarily due to:•An increase in P&C reflecting a 9% increase in Business Insurance and a 7% increase in Personal Insurance.–Contributing to the increase in Business Insurance was the effect of an increase in new business across most lines of business and earned pricing increases. –For Personal Insurance, earned premium increased primarily due to the effect of earned pricing increases, partially offset by a decline in policies in-force.•Employee Benefits earned premium was essentially flat, as an increase in exposure on existing accounts was offset by lower fully insured ongoing sales during the past year.Fee income increased primarily due to a $14 increase in Hartford Funds driven by higher daily average assets resulting from an increase in equity market levels, partially offset by net outflows over the preceding twelve-month period.Net Investment Income[1]Limited partnerships and other alternative investments of $37 and $91 for the three months ended September 30, 2024 and 2025 respectively.Net investment income increased due to higher income from limited partnerships and other alternative investments, the impact of higher