Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 160

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 1
Chunk 160
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 common stockholders that are excluded from core earnings, preferred stock dividends declared, which are excluded from net income, are included in the determination of core earnings. Preferred stock dividends are a cost of financing more akin to interest expense on debt and are expected to be a recurring expense as long as the preferred stock is outstanding. Net income (loss) and net income (loss) available to common stockholders are the most directly comparable U.S. GAAP measures to core earnings. Core earnings should not be considered as a substitute for net income (loss) or net income (loss) available to common stockholders and does not reflect the overall profitability of the Company’s business. Therefore, The Hartford believes that it is useful for investors to evaluate net income (loss), net income (loss) available to common stockholders, and core earnings when reviewing the Company’s performance. 

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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

Reconciliation of Net Income to Core Earnings Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Net income$1,080 $767 $2,705 $2,258 Preferred stock dividends6 6 16 16 Net income available to common stockholders1,074 761 2,689 2,242 Adjustments to reconcile net income available to common stockholders to core earnings:Net realized losses excluded from core earnings, before tax10 12 67 40 Restructuring and other costs, before tax— 1 — 2 Integration and other non-recurring M&A costs, before tax2 2 6 6 Change in deferred gain on retroactive reinsurance, before tax [1](8)(26)(64)(87)Income tax expense (benefit) [2](1)2 (1)8 Core earnings$1,077 $752 $2,697 $2,211 

[1]The Company recorded amortization of the deferred gain related to the Navigators adverse development cover ("Navigators ADC") of $8 and $64 for the three and nine months ended September 30, 2025 and $26 and $87 for the three and nine months ended September 30, 2024, respectively. The deferred gain has been fully amortized as of September 30, 2025. For additional information regarding the ADC re