Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 168

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 168
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 Income Three months ended March 31, 2025 compared to the three months ended March 31, 2024Net income decreased for the three months ended March 31, 2025, primarily due to net realized gains in the 2024 period partially offset by an increase in fee income net of operating costs and other expenses driven by higher daily average AUM.Hartford Funds AUMMarch 31, 2025 compared to March 31, 2024Hartford Funds AUM increased primarily due to an increase in equity market values, partially offset by net outflows over the preceding twelve month periods. Net outflows were $1.4 billion for the three months ended March 31, 2025 compared to net outflows of $2.5 billion, for the three months ended March 31, 2024.

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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

Corporate - Results of Operations

Operating Summary

Three Months Ended March 31,20252024ChangeFee income [1]$11 $10 10 %Other revenue1 — NMNet investment income [2]14 16 (13)%Net realized gains (losses) [2](19)9 NMTotal revenues (losses)7 35 (80)%Benefits, losses and loss adjustment expenses [3]2 2 — %Insurance operating costs and other expenses [1]14 14 — %Interest expense [4]50 50 — %Restructuring and other costs— 1 (100)%Total benefits, losses and expenses66 67 (1)%Loss before income taxes(59)(32)(84)%Income tax benefit [5](18)(17)(6)%Net loss(41)(15)(173)%Preferred stock dividends5 5 — %Net loss available to common stockholders$(46)$(20)(130)%

[1]Includes investment management fees and expenses related to managing third-party business.

[2]For discussion of consolidated investment results, see MD&A - Investment Results.

[3]Includes benefits expense on life and annuity business previously underwritten by the Company.

[4]For discussion of debt, see Note 13 - Debt of Notes to Consolidated Financial Statements in The Hartford's 2024 Form 10-K Annual Report.

[5]For discussion of income taxes, see Note 12 -