Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 333

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 8
Chunk 333
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avigators ADC deferred gain, which has been fully amortized as of September 30, 2025. For further discussion, see Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.Partially offset by:–An increase in P&C CAY loss and LAE before catastrophes of $197, before tax, primarily due to the effect of higher earned premiums and a higher underlying loss and LAE ratio in Business Insurance, partially offset by a lower underlying loss and LAE ratio in Personal Insurance. Losses and LAE Incurred for Employee Benefits•A slight increase in Employee Benefits of $2, before tax, primarily driven by a higher long-term disability loss ratio due to a benefit in the prior year related to an update to the long-term disability claim recovery rate assumptions, largely offset by a lower group life loss ratio driven by lower mortality and a lower loss ratio on the paid family and medical leave product.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;•Higher technology costs, including increased investment; and•An increase in doubtful accounts expense partly due to higher business volume.Income tax expense increased primarily due to an increase in income before tax, partially offset by a higher net tax benefit in the Corporate category. For further discussion of income taxes, see Note 12 - Income Taxes 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

Nine months ended September 30, 2025 compared to 2024 

Net income available to common stockholders increased by $447 primarily driven by:•A higher P&C underwriting gain of $368, before tax, driven by the effect of earned premium growth, a higher level of 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 CAY catastrophe losses; and•Higher net investment income of $225, before tax, driven by a higher level of invested assets, reinvesting at higher interest rates, and higher income from limited partnerships and other alternative investments, partially offset by a lower yield on variable-rate securities;These increases