Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1490

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1490
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 and Note 10 - Reserve for Unpaid Losses and Loss Adjustment Expenses. Property and Casualty ceded losses, which reduce losses and loss adjustment expenses incurred, were $1,241, $1,043 and $1,338 for the years ended December 31, 2024, 2023 and 2022, respectively.Employee Benefits ceded losses, which reduce losses and loss adjustment expenses incurred, were $120, $93 and $81 for the years ended December 31, 2024, 2023 and 2022, respectively.Reinsurance RecoverablesReinsurance recoverables include balances due from reinsurance companies and are presented net of an allowance for uncollectible reinsurance. Reinsurance recoverables include an estimate of the amount of gross losses and loss adjustment expense reserves that may be ceded under the terms of the reinsurance agreements, including incurred but not reported ("IBNR") unpaid losses. The Company’s estimate of losses and loss adjustment expense reserves ceded to reinsurers is based on assumptions that are consistent with those used in establishing the gross reserves for amounts the Company owes to its claimants. The Company estimates its ceded reinsurance recoverables based on the terms of any applicable facultative and treaty reinsurance, including an estimate of how IBNR unpaid losses will ultimately be ceded under reinsurance agreements. Accordingly, the Company’s estimate of reinsurance recoverables is subject to similar risks and uncertainties as the estimate of the gross reserve for unpaid losses and loss adjustment expenses.Reinsurance Recoverables by Credit Quality IndicatorAs of December 31, 2024As of December 31, 2023P&CEmployee Benefits CorporateTotalP&CEmployee Benefits CorporateTotalAM Best Financial Strength RatingA++$2,271 $— $— $2,271 $2,398 $— $— $2,398 A+2,169 281 224 2,674 2,030 251 241 2,522 A829 1 — 830 810 1 — 811 A-622 4 — 626 653 5 — 658 B++2 — 2 4 2 — 3 5 Below B++22 — — 22 22 — — 22 Total Rated by AM Best5,915 286 226 6,427 5,915 257 244 6,416 Mandatory (