Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1372

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1372
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 recent developments in commutation activity between reinsurers and cedants, recent trends in arbitration and litigation outcomes in disputes between cedants and reinsurers and the overall credit quality of the Company’s reinsurers. For further discussion on reinsurance recoverables, including details of recoverables by AM Best credit rating, see Note 8 – Reinsurance of Notes to Consolidated Financial Statements. Annually, the Company completes evaluations of the reinsurance recoverable asset associated with older, long-term casualty liabilities reported in the Property & Casualty Other Operations reportable segment and the allowance for uncollectible reinsurance reported in the Business Insurance and Employee Benefits reportable segments as well as the Corporate category. For a discussion regarding the results of the evaluation of older, long-term casualty liabilities reported in the Property & Casualty Other Operations reportable segment, see MD&A - Critical Accounting Estimates, Property and Casualty Insurance Product Reserves, Net of Reinsurance. For a discussion of the allowance for uncollectible reinsurance, see Note 8 – Reinsurance of Notes to Consolidated Financial Statements.

 Reinsurance Recoverables as of December 31,

Property and CasualtyEmployee BenefitsCorporateTotal20242023202420232024202320242023Paid loss and loss adjustment expenses$317 $273 $7 $5 $— $— $324 $278 Unpaid loss and loss adjustment expenses6,381 6,429 284 256 226 244 6,891 6,929 Gross reinsurance recoverables 6,698 6,702 291 261 226 244 7,215 7,207 Allowance for uncollectible reinsurance(72)(100)(1)(1)(2)(2)(75)(103)Net reinsurance recoverables$6,626 $6,602 $290 $260 $224 $242 $7,140 $7,104 

Guaranty Funds and Other Insurance-related AssessmentsAs part of its risk management strategy, the Company regularly monitors the financial strength of other insurers and, in particular, activity by insurance regulators and various state guaranty associations in the U.S. relating to troubled insurers. In all states, insurers licensed to transact certain classes of insurance are required to become members of a guaranty fund.|OPERATIONAL RISKOperational risk is the risk of loss resulting from inadequate or failed internal processes and systems, human error, or from external events.Sources