Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 163

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 163
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 due to higher direct marketing costs and, to a lesser extent, a higher commission ratio due to business mix. 

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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

Earned Premiums Written PremiumsThree months ended March 31, 2025 compared to the three months ended March 31, 2024Earned premiums increased in 2025 due to higher written premium over the prior twelve months in both automobile and homeowners.Written premiums increased in 2025 driven by the effect of written pricing increases and by an increase in new business premium in both automobile and homeowners. Renewal written pricing increases moderated for both automobile and homeowners in 2025, primarily in response to moderating loss cost trends.Effective Policy count retention was stable both for automobile and homeowners in 2025, in response to moderating renewal written pricing increases.Policies in-force as of March 31, 2025 compared to March 31, 2024 declined for automobile and increased for homeowners, reflecting the level of new business in relation to non-renewed policies.Underlying Loss and Loss Adjustment Expense RatioThree months ended March 31, 2025 compared to the three months ended March 31, 2024Underlying loss and LAE ratio decreased in both automobile and homeowners in 2025. The decrease in automobile was primarily due to the impact of earned pricing increases as well as lower physical damage claim frequency, partially offset by higher automobile claim severities. The automobile liability severity increases continue to recognize the inflationary effects and higher attorney representation rates on bodily injury claims. For homeowners, the decrease in the underlying loss and LAE ratio was primarily due to the impact of earned pricing increases, partially offset by higher claim severities. Contributing to the higher homeowners severity was the effect of higher rebuilding costs.

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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

Current Accident Year Catastrophes and Unfavorable (Favorable) Prior Accident Year DevelopmentThree months ended March 31, 2025 compared to the three months ended March 31, 2024Current accident year catastrophe losses increased for the three months ended March 31, 2025, compared to the prior year. CAY catastrophe losses for the three months ended March 31, 2025 included a loss of $118 from the January 2025 California Wildfire Event, as