Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 805

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 12
Chunk 805
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 management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.The most significant estimates include those used in determining property and casualty and group long-term disability ("LTD") insurance product reserves, net of reinsurance; evaluation of goodwill for impairment; valuation of investments and derivative instruments; and contingencies relating to corporate litigation and regulatory matters.Adoption of New Accounting StandardsSegment DisclosuresOn December 31, 2024, the Company adopted the Financial Accounting Standards Board’s (“FASB”) new guidance on Segment Reporting, that was applied on a retrospective basis for all periods presented. The new guidance requires enhanced disclosures on an annual and quarterly basis about significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within the reported measure of segment profit or loss, as well as disclosure of the title and position of the CODM and a description of how the reported measure of profit or loss is used to assess segment performance and allocate resources. The Company has included the new disclosures in Note 3 - Segment Information of Notes to Consolidated Financial Statements. The Company will also provide the quarterly disclosures beginning with the March 31, 2025 interim condensed consolidated financial statements. The new guidance did not have an impact on the consolidated financial position, results of operations, or cash flows.

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|Table of ContentsIndex to Consolidated Financial Statements and SchedulesNote 1 - Basis of Presentation and Significant Accounting PoliciesTHE HARTFORD INSURANCE GROUP, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

Future Adoption of New Accounting StandardsIncome Tax DisclosuresThe FASB issued new disclosure requirements for income taxes primarily for the income tax rate reconciliation and income taxes paid. The income tax rate reconciliation within the income taxes note will present reconciling items based on specified categories with further disaggregation of items above a prescribed threshold. Disclosure of income taxes paid (net of refunds received) in the consolidated statement of cash flows will be disaggregated by federal (national), state, and foreign taxes with further disaggregation by individual jurisdictions subject to a prescribed threshold. The Company is required to provide the new disclosure annually beginning with the December 31, 2025 consolidated financial statements. Disclosures are required to be provided on a prospective basis with retrospective application permitted. The Company is evaluating the disclosure impact of the new guidance; however, the