Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 702

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 9B
Chunk 702
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 175 Reinsurance ceded(127)(104)(106)Net earned premiums, fees and other considerations$6,615 $6,515 $6,057 

For its Employee Benefits products, the Company reinsures certain of its risks to other reinsurers under yearly renewable term and coinsurance arrangements and variations thereto. Yearly renewable term and coinsurance arrangements result in passing a portion of the risk to the reinsurer. Generally, the reinsurer receives a proportionate amount of the premiums less an allowance for commissions and expenses and is liable for a corresponding proportionate amount of all benefit payments. 

165

|Index to Consolidated Financial Statements and SchedulesTable of ContentsNote 9 - Goodwill & Other Intangible AssetsTHE HARTFORD INSURANCE GROUP, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

9. GOODWILL & OTHER INTANGIBLE ASSETS The carrying value of goodwill allocated to reportable segments and the corporate category as of both December 31, 2024 and 2023 was as follows:Carrying ValueBusiness Insurance$659 Personal Insurance119 Hartford Funds180 Employee Benefits723 Corporate [1]230 Total$1,911 [1]The Corporate category includes goodwill that was acquired at a holding company level and not pushed down to a subsidiary within a reportable segment. Carrying value of goodwill within Corporate as of December 31, 2024 and 2023 includes $138 and $92 for the Employee Benefits and Hartford Funds reporting units, respectively.The annual goodwill assessment for The Hartford's reporting units was completed as of October 31, 2024 and 2023; all reporting units passed their annual impairment test with a significant margin and as a result there were no write-downs of goodwill.Other Intangible AssetsAs of December 31, 2024As of December 31, 2023Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountAmortized Intangible Assets:Customer relationships$636 $(313)$323 $636 $(269)$367 Marketing agreement with Aetna16 (7)9 16 (7)9 Distribution Agreement79 (75)4 79 (72)7 Distribution and Agency relationships & Other340 (134)206 340 (111)229 Total Finite Life Intangibles1,071