# EDGAR Filing Document

**Accession Number:** 0000874766
**File Stem:** 0000874766-25-000106
**Filing Date:** 2025-10
**Character Count:** 254380
**Document Hash:** da6011bd899411b5e61ff9b6e1694a22
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000874766-25-000106.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0000874766-25-000106

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20251027

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HARTFORD INSURANCE GROUP, INC.
- **CENTRAL INDEX KEY:** 0000874766
- **STANDARD INDUSTRIAL CLASSIFICATION:** FIRE, MARINE & CASUALTY INSURANCE [6331]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 133317783
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13958
- **FILM NUMBER:** 251419930

**BUSINESS ADDRESS:**
- **STREET 1:** ONE HARTFORD PLAZA
- **STREET 2:** LAW-HO-1-09
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06155
- **BUSINESS PHONE:** 8605475000

**MAIL ADDRESS:**
- **STREET 1:** ONE HARTFORD PLAZA
- **STREET 2:** LAW-HO-1-09
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06155

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HARTFORD FINANCIAL SERVICES GROUP, INC.
- **DATE OF NAME CHANGE:** 20190607

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HARTFORD FINANCIAL SERVICES GROUP INC/DE
- **DATE OF NAME CHANGE:** 19990402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ITT HARTFORD GROUP INC /DE
- **DATE OF NAME CHANGE:** 19930328

?xml version='1.0' encoding='ASCII'? hig-20251027

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): October 27, 2025**

**The Hartford Insurance Group, Inc.** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-13958** | **13-3317783** |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |

---

**The Hartford Insurance Group, Inc.**

**One Hartford Plaza, Hartford, Connecticut 06155** 

**(Address of Principal Executive Offices) (Zip Code)**

**Registrant's telephone number, including area code: (860) 547-5000** 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | HIG | The New York Stock Exchange |
| 6.10% Senior Notes due October 1, 2041 | HIG 41 | The New York Stock Exchange |
| Depositary Shares, Each Representing a 1/1,000th Interest in a Share of 6.000% Non-Cumulative Preferred Stock, Series G, par value $0.01 per share | HIG PR G | The New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

------

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition** |

---

On October 27, 2025, The Hartford Insurance Group, Inc. (the "Company") issued (i) a news release announcing its financial results for the quarterly period ended September 30, 2025, and (ii) its Investor Financial Supplement ("IFS") relating to its financial results for the quarterly period ended September 30, 2025. Copies of the news release and the IFS are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibits 99.1 and 99.2, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

---

---

| | |
|:---|:---|
| Exhibit No. |  |
| 99.1 | <u>[News Release of The Hartford Insurance Group, Inc. dated](ex991earningsnewsrelease93.htm)[October 27](ex991earningsnewsrelease93.htm)[, 2025](ex991earningsnewsrelease93.htm)</u> |
| 99.2 | <u>[Investor Financial Supplement of The Hartford Insurance Group, Inc. for the quarterly period ended](ex992ifs9302025.htm)[September](ex992ifs9302025.htm)[30, 2025](ex992ifs9302025.htm)</u> |
| 101 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
| 104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. |

---

------

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Date: | October 27, 2025 | By: | /s/ Allison G. Niderno |
|  |  | Name: | Allison G. Niderno |
|  |  | Title: | Senior Vice President and Controller |

---

## Exhibit 99.1

&nbsp;&nbsp;&nbsp;&nbsp;

**NEWS RELEASE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**![thehartford_logoxhorizonta.jpg](thehartford_logoxhorizonta.jpg)

**The Hartford Announces Record Third Quarter Earnings**

*Increased quarterly common dividend per share by 15%*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Record third quarter 2025 net income available to common stockholders of $1.1 billion ($3.77 per diluted share) increased 41% from $761 million ($2.56 per diluted share) over the same period in 2024. Record core earnings\* of $1.1 billion ($3.78 core earnings per diluted share\*) increased 43% from $752 million ($2.53 core earnings per diluted share) over the same period in 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income ROE for the trailing 12 months of 20.3% and core earnings ROE\* of 18.4%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Property & Casualty (P&C) written premiums increased by 7% in the third quarter of 2025, driven by Business Insurance premium growth of 9%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Business Insurance third quarter 2025 combined ratio of 88.8 and an underlying combined ratio\* of 89.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Personal Insurance third quarter 2025 combined ratio of 88.7 and an underlying combined ratio\* of 90.0.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• P&C current accident year (CAY) catastrophe (CAT) losses in third quarter 2025 of $70 million, before tax, compared with $247 million, before tax in third quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Employee Benefits third quarter net income margin of 8.1% and a core earnings margin\* of 8.3%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Returned $547 million to stockholders in the third quarter, including $400 million of shares repurchased and $147 million in common stockholder dividends paid. Increased the quarterly common dividend per share by 15%, to $0.60, payable Jan. 5, 2026 to shareholders of record at the close of business on Dec. 1, 2025.

\* Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest U.S. GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures.

\*\* All amounts and percentages set forth in this news release are approximate unless otherwise noted.

------

HARTFORD, Conn., Oct. 27, 2025 – The Hartford (NYSE: HIG) today announced financial results for the third quarter ended Sept. 30, 2025.

"The Hartford delivered outstanding third quarter results, generating record core earnings of $1.1 billion and a trailing 12-month core earnings ROE of 18.4 percent," said The Hartford's Chairman and CEO Christopher Swift. "These results highlight the strength of The Hartford's franchise, effectiveness of our strategy and ability to deliver differentiated solutions for customers."

The Hartford's Chief Financial Officer Beth Costello said, "Business Insurance delivered excellent top-line growth of 9 percent, with an underlying combined ratio of 89.4. Excluding workers' compensation, pricing was 7.3 percent, and above the overall loss trend. Personal Insurance achieved 3.7 points of underlying combined ratio improvement, while Employee Benefits delivered an outstanding core earnings margin of 8.3 percent. Investment performance was strong, supported by a diversified portfolio and attractive new money yields."

Swift continued, "Building on our consistent track record of annual dividend increases, we are pleased to announce a 15 percent increase in the common quarterly dividend. As we enter the final quarter of 2025, our financial strength, disciplined execution, and investments to advance innovation continue to position The Hartford to deliver strong results. In a dynamic market, these advantages reinforce our competitive standing and ability to generate superior returns for shareholders."

------

**CONSOLIDATED RESULTS:**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>*($ in millions except per share data)* | **Sep 30 2025** | **Sep 30 2024** | **<br>Change** |
| Net income available to common stockholders | $1074 | $761 | 41% |
| *Net income available to common stockholders per diluted share*<sup>1</sup> | *$3.77* | *$2.56* | 47% |
| Core earnings | $1077 | $752 | 43% |
| *Core earnings per diluted share* | *$3.78* | *$2.53* | 49% |
| Book value per diluted share | $63.86 | $56.39 | 13% |
| Book value per diluted share (ex. accumulated other comprehensive income (AOCI))<sup>2</sup> | $70.92 | $63.17 | 12% |
| Net income available to common stockholders' return on equity (ROE)<sup>3</sup>, last 12-months | 20.3% | 20.0% | 0.3 |
| Core earnings ROE<sup>3</sup>, last 12-months | 18.4% | 17.4% | 1.0 |

---

*[1]Includes dilutive potential common shares; for net income available to common stockholders per diluted share, the numerator is net income less preferred dividends*

*[2]Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest U.S. GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures*

*[3]Return on equity (ROE) is calculated based on last 12-months net income available to common stockholders and core earnings, respectively; for net income ROE, the denominator is common stockholders' equity including AOCI; for core earnings ROE, the denominator is common stockholders' equity excluding AOCI*

Third quarter 2025 net income available to common stockholders of $1.1 billion, or $3.77 per diluted share, improved from $761 million in third quarter 2024, primarily driven by lower P&C CAY CAT losses, higher net investment income, earned premium growth across P&C, more net favorable prior accident year development (PYD), and improvement in the Personal Insurance underlying loss and loss adjustment expense ratio\*.

Third quarter 2025 core earnings of $1.1 billion, or $3.78 per diluted share, compared with $752 million of core earnings in third quarter 2024. Contributing to the results were:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An increase in earnings generated by 9% growth in P&C earned premium.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Business Insurance loss and loss adjustment expense ratio of 57.3 compared with 61.0 in third quarter 2024, including 3.7 points of lower CATs and 0.6 points of more favorable PYD. Underlying loss and loss adjustment expense ratio of 57.9 compared with 57.3 in third quarter 2024, largely due to a higher loss ratio in workers' compensation, as expected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Personal Insurance loss and loss adjustment expense ratio of 62.9 compared with 76.8 in third quarter 2024, including 7.1 points of lower CATs and 2.9 points of more favorable PYD. Underlying loss and loss adjustment expense ratio\* of 64.2 improved 3.8 points from third quarter 2024, due to a lower loss ratio in both automobile and homeowners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net favorable PYD in core earnings of $95 million, before tax, in 2025 compared with net favorable PYD of $24 million in core earnings in 2024. Net favorable PYD included in core earnings in third quarter 2025 was primarily driven by reserve reductions in workers' compensation and personal automobile liability and physical damage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• P&C CAY CAT losses of $70 million, before tax, in third quarter 2025, including $37 million of favorable prior quarter development, compared with CAY CAT losses of $247 million in third quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The P&C expense ratio of 30.0 was relatively flat compared with 29.9 in third quarter 2024.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Employee Benefits loss ratio of 70.1 was relatively flat compared with 70.2 in third quarter 2024, driven by improvement in the group life loss ratio, partially offset by an increase in the group disability loss ratio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Employee Benefits expense ratio of 26.7 increased 1.4 points compared with 25.3 in third quarter 2024, largely due to higher staffing costs, increased investments in technology, and a higher commission ratio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net investment income of $759 million, before tax, compared with $659 million in third quarter 2024, primarily driven by increased income from limited partnerships and other alternative investments (LPs)\*, a higher level of invested assets, and reinvesting at higher interest rates, partially offset by a lower yield on variable-rate securities.

Sept. 30, 2025, book value per diluted share of $63.86 increased 15.9%, from $55.09 at Dec. 31, 2024, principally due to net income in excess of stockholder dividends through Sept. 30, 2025, partially offset by the dilutive effect of share repurchases.

Book value per diluted share (excluding AOCI) of $70.92 as of Sept. 30, 2025, increased 9.2%, from $64.95 at Dec. 31, 2024, as the impact from net income in excess of stockholder dividends through Sept. 30, 2025, was partially offset by the dilutive effect of share repurchases.

Net income available to common stockholders' ROE (net income ROE) for the trailing 12-month period ending Sept. 30, 2025 was 20.3%, increasing 0.3 points from Sept. 30, 2024.

Core earnings ROE for the trailing 12-month period ending Sept. 30, 2025, was 18.4%, increasing 1.0 point from Sept. 30, 2024, due to higher average common stockholder's equity excluding AOCI, partially offset by higher trailing 12-month core earnings.

------

**BUSINESS RESULTS:**

**Business Insurance**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *($ in millions, unless otherwise noted)* | **Sep 30 2025** | **Sep 30 2024** | **<br>Change** |
| **Net income** | **$710** | **$528** | **34%** |
| **Core earnings** | **$723** | **$534** | **35%** |
| **Written premiums** | **$3573** | **$3275** | **9%** |
| **Underwriting gain**<sup>1</sup> | **$397** | **$253** | **57%** |
| **Underlying underwriting gain**<sup>1</sup> | **$376** | **$372** | **1%** |
| **Losses and loss adjustment expense ratio** | **57.3** | **61.0** | **(3.7)** |
| **Expenses** | **31.1** | **30.9** | **0.2** |
| **Policyholder dividends** | **0.3** | **0.3** | **—** |
| **Combined ratio** | **88.8** | **92.2** | **(3.4)** |
| &nbsp;&nbsp;&nbsp;Impact of catastrophes and PYD on combined ratio | 0.6 | (3.7) | 4.3 |
| **Underlying combined ratio** | **89.4** | **88.6** | **0.8** |
| **Losses and loss adjustment expense ratio** |  |  |  |
| &nbsp;&nbsp;&nbsp;Underlying loss and loss adjustment expense ratio | 57.9 | 57.3 | 0.6 |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | 1.1 | 4.8 | (3.7) |
| &nbsp;&nbsp;&nbsp;Favorable prior accident year development | (1.7) | (1.1) | (0.6) |
| **Total Losses and loss adjustment expense ratio** | **57.3** | **61.0** | **(3.7)** |

---

*[1]Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest U.S. GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures*

Third quarter 2025 net income of $710 million compared with net income of $528 million in third quarter 2024, principally due to lower CAY CAT losses, higher net investment income, the impact of earned premium growth, and greater net favorable PYD, partially offset by a higher underlying loss and loss adjustment expense ratio. PYD includes an $8 million, before-tax, benefit due to the amortization of the deferred gain related to the Navigators ADC, compared with a $26 million before tax benefit in 2024.

Business Insurance core earnings of $723 million in third quarter 2025 compared with $534 million in third quarter 2024. Contributing to the results were:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 9% growth in earned premium.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An underlying loss and loss adjustment expense ratio of 57.9 in third quarter 2025 compared with 57.3 in third quarter 2024 largely due to a higher loss ratio in workers' compensation, as expected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net favorable PYD within core earnings of $52 million, before tax, in third quarter 2025, compared with $10 million of net favorable PYD within core earnings in third quarter 2024. The net favorable PYD in third quarter 2025 primarily includes reserve reductions in workers' compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• CAY CAT losses of $39 million, before tax, in third quarter 2025, including $30 million of favorable prior quarter development, down from CAY CAT losses of $155 million in third quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net investment income of $519 million, before tax, compared with $442 million in third quarter 2024.

Combined ratio of 88.8 compared with 92.2 in third quarter 2024, primarily due to a 3.7 point decrease in the loss and loss adjustment expense ratio, including 3.7 points of lower CATs and 0.6 points of more favorable PYD. Underlying combined ratio of 89.4 compared with 88.6 in third

------

quarter 2024, primarily due to a 0.6 point increase in the underlying loss and loss adjustment expense ratio:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Small Business combined ratio of 87.9 compared with 91.6 in third quarter 2024, including 5.1 points of lower CAY CATs and 0.9 points of less favorable PYD. Underlying combined ratio of 89.8 compared with 89.3 in third quarter 2024, primarily due to a higher loss ratio in workers' compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Middle & Large Business combined ratio of 90.8 compared with 97.0 in third quarter 2024, including a 3.9 point change from unfavorable to favorable PYD and 3.5 points of lower CAY CATs. Underlying combined ratio of 91.4 compared with 90.2 in third quarter 2024, primarily due to a higher loss ratio in workers' compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Global Specialty combined ratio of 86.9 compared with 87.4 in third quarter 2024, including 1.6 points of lower CAY CATs and 0.6 points of less favorable PYD. The combined ratio included 2.1 points of less favorable development due to the amortization of the deferred gain related to the Navigators ADC. Underlying combined ratio of 85.8 compared with 85.3 in third quarter 2024, primarily due to a higher expense ratio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The expense ratio of 31.1 increased from 30.9 in third quarter 2024, as the impact of earned premium leverage was more than offset by expected increases in marketing and technology costs and higher incentive compensation due to overall financial performance.

Third quarter 2025 written premiums of $3.6 billion were up 9% from third quarter 2024, with increases across the segment. Small Business and Middle & Large Business both delivered double-digit increases, driven in part by new business growth of 11% and 20%, respectively, and supported by strong renewal written pricing.

**Personal Insurance**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>*($ in millions, unless otherwise noted)* | **Sep 30 2025** | **Sep 30 2024** | **Change** |
| **Net income** | **$139** | **$31** | **NM** |
| **Core earnings** | **$143** | **$33** | **NM** |
| **Written premiums** | **$987** | **$970** | **2%** |
| **Underwriting gain (loss)** | **$107** | **$(22)** | **NM** |
| **Underlying underwriting gain** | **$95** | **$56** | **70%** |
| **Losses and loss adjustment expense ratio** | **62.9** | **76.8** | **(13.9)** |
| **Expenses** | **25.8** | **25.6** | **0.2** |
| **Combined ratio** | **88.7** | **102.5** | **(13.8)** |
| &nbsp;&nbsp;&nbsp;Impact of catastrophes and PYD on combined ratio | 1.2 | (8.8) | 10.0 |
| **Underlying combined ratio** | **90.0** | **93.7** | **(3.7)** |
| **Losses and loss adjustment expense ratio** |  |  |  |
| &nbsp;&nbsp;&nbsp;Underlying loss and loss adjustment expense ratio | 64.2 | 68.0 | (3.8) |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | 3.3 | 10.4 | (7.1) |
| &nbsp;&nbsp;&nbsp;Favorable prior accident year development | (4.5) | (1.6) | (2.9) |
| **Total Losses and loss adjustment expense ratio** | **62.9** | **76.8** | **(13.9)** |

---

Net income of $139 million in third quarter 2025 compared with net income of $31 million in third quarter 2024, primarily due to lower CAY CAT losses, an improvement in the underlying loss and loss adjustment expense ratio, including the impact of higher earned premium, and more favorable PYD.

------

Personal Insurance core earnings of $143 million compared with core earnings of $33 million in third quarter 2024. Contributing to the results were:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 7% growth in earned premium largely driven by the impact of double-digit earned pricing increases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An underlying loss and loss adjustment expense ratio of 64.2 in third quarter 2025, which improved 3.8 points from 68.0 in third quarter 2024, primarily driven by the impact of earned pricing increases, partially offset by loss cost increases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• $43 million, before tax, of favorable PYD in third quarter of 2025, compared with $14 million of favorable PYD in third quarter 2024. The net favorable PYD in third quarter 2025 primarily includes reserve reductions in automobile liability and physical damage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• CAY CAT losses of $31 million, before tax, in third quarter 2025, including $7 million of favorable prior quarter development, down from $92 million of CAY CAT losses in third quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net investment income of $67 million, before tax, in third quarter 2025 compared with $58 million in third quarter 2024.

Combined ratio of 88.7 in third quarter 2025 compared with 102.5 in third quarter 2024, primarily due to a 13.9 point improvement in the loss and loss adjustment expense ratio, including 7.1 points of lower CAY CAT losses, a 3.8 point improvement in the underlying loss and loss adjustment expense ratio, and more favorable PYD of 2.9 points, partially offset by a higher expense ratio. Underlying combined ratio of 90.0 improved 3.7 points from 93.7 in third quarter 2024, primarily due to improvement in the underlying loss and loss adjustment expense ratio in automobile and homeowners, partially offset by a 0.2 point increase in the expense ratio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Personal Automobile combined ratio of 92.5 improved 13.2 points from 105.7 in third quarter 2024. The underlying combined ratio of 97.9 improved 3.6 points from 101.5 in third quarter 2024, primarily due to improvement in the underlying loss and loss adjustment expense ratio, driven by the impact of earned pricing increases outpacing loss cost trends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Homeowners combined ratio of 81.2 compared with 94.7 in third quarter 2024, driven by 12.7 points of lower CAY CATs. The underlying combined ratio of 74.4 improved 1.0 points from 75.4 in third quarter 2024, primarily due to improvement in the underlying loss and loss adjustment expense ratio, driven by the impact of earned pricing increases outpacing loss cost trends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The expense ratio of 25.8 was relatively flat to 25.6 in third quarter 2024, including a higher commission ratio due to business mix.

Written premiums in third quarter 2025 were $987 million compared with $970 million in third quarter 2024, with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Renewal written price increases in automobile and homeowners of 11.3% and 12.6%, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Effective policy count retention was relatively stable in automobile and homeowners due to strong but moderating renewal written price increases.

------

**Employee Benefits**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>*($ in millions, unless otherwise noted)* | **Sep 30 2025** | **Sep 30 2024** | **<br>Change** |
| **Net income** | **$144** | **$156** | **(8%)** |
| **Core earnings** | **$149** | **$154** | **(3%)** |
| **Fully insured ongoing premiums** | **$1603** | **$1600** | **0%** |
| **Loss ratio** | **70.1%** | **70.2%** | **(0.1)** |
| **Expense ratio** | **26.7%** | **25.3%** | **1.4** |
| **Net income margin** | **8.1%** | **8.8%** | **(0.7)** |
| **Core earnings margin** | **8.3%** | **8.7%** | **(0.4)** |

---

Net income of $144 million in third quarter 2025 compared with $156 million in third quarter 2024, primarily driven by an increase in the expense ratio, an increase in the group disability loss ratio, and greater net realized losses, partially offset by improvement in the group life loss ratio and higher net investment income. Core earnings of $149 million, compared with $154 million in third quarter 2024, with the change primarily reflecting the same drivers as net income, excluding the impact of net realized losses.

Fully insured ongoing premiums and fully insured ongoing sales were flat compared with third quarter 2024.

Loss ratio of 70.1 was relatively flat to 70.2 in third quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Group life loss ratio of 74.2 improved 3.3 points due to lower mortality across both term and accidental life products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Group disability loss ratio of 70.6 increased 2.7 points as the prior year loss ratio included a 2.2 point benefit related to the long-term disability recovery rate assumption, as well as slightly higher current year long-term disability loss trends, as expected, partially offset by pricing increases earning in related to the paid family and medical leave products.

Expense ratio of 26.7 increased 1.4 points compared with 25.3 in third quarter 2024, primarily driven by higher staffing costs, including increased incentive compensation and benefits, increased investments in technology, and a higher commission ratio.

Net investment income of $136 million, before tax, compared with $119 million in third quarter 2024.

**Hartford Funds**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>*($ in millions, unless otherwise noted)* | **Sep 30 2025** | **Sep 30 2024** | **Change** |
| **Net income** | **$57** | **$54** | **6%** |
| **Core earnings** | **$53** | **$47** | **13%** |
| **Daily average Hartford Funds Assets Under Management (AUM)** | **$148269** | **$137888** | **8%** |
| **Mutual Funds and exchange-traded funds (ETF) net flows** | **$(25)** | **$(425)** | **94%** |
| **Total Hartford Funds AUM** | **$152338** | **$142439** | **7%** |

---

Third quarter 2025 net income of $57 million compared with $54 million in third quarter 2024, primarily due to an increase in fee income net of operating costs and other expenses driven by higher daily average Hartford Funds AUM, partially offset by lower net realized gains. Core earnings of $53 million compared with $47 million in third quarter 2024, with the change primarily reflecting the same drivers as net income, excluding the impact of net realized gains.

------

Daily average AUM of $148 billion in third quarter 2025 increased 8% from third quarter 2024.

Mutual fund and ETF net outflows totaled $25 million in third quarter 2025, compared with net outflows of $425 million in third quarter 2024.

**Corporate**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>*($ in millions, unless otherwise noted)* | **Sep 30 2025** | **Sep 30 2024** | **Change** |
| **Net income (loss)** | **$18** | **$(12)** | **NM** |
| **Net income (loss) available to common stockholders** | **$12** | **$(18)** | **NM** |
| **Core loss** | **$(5)** | **$(26)** | **81%** |
| **Net investment income, before tax** | **$14** | **$17** | **(18%)** |
| **Interest expense and preferred dividends, before tax** | **$56** | **$55** | **2%** |

---

Net income available to common stockholders of $12 million in third quarter 2025 compared with a net loss available to common stockholders of $18 million in third quarter 2024, primarily driven by a higher net tax benefit, as well as greater net realized gains. Third quarter 2025 core loss of $5 million compared with a third quarter 2024 core loss of $26 million, with the change primarily reflecting a higher net tax benefit in the current quarter.

**INVESTMENT INCOME AND PORTFOLIO DATA:**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>*($ in millions, unless otherwise noted)* | **Sep 30 2025** | **Sep 30 2024** | **<br>Change** |
| **Net investment income, before tax** | **$759** | **$659** | **15%** |
| **Annualized investment yield, before tax** | **4.8%** | **4.4%** | **0.4** |
| **Annualized investment yield, before tax, excluding LPs**<sup>1</sup> | **4.6%** | **4.5%** | **0.1** |
| **Annualized LP yield, before tax** | **6.7%** | **3.0%** | **3.7** |
| **Annualized investment yield, after tax** | **3.9%** | **3.5%** | **0.4** |

---

*[1] Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest U.S. GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures*

Third quarter 2025 consolidated net investment income of $759 million compared with $659 million in third quarter 2024, primarily driven by increased income from LPs, a higher level of invested assets, and reinvesting at higher interest rates, partially offset by a lower yield on variable-rate securities.

Third quarter 2025 net investment income, excluding LPs\*, of $668 million, before tax, compared to $622 million in third quarter 2024, a 7% increase, driven by a higher level of invested assets combined with an increase in annualized yield.

Third quarter 2025 included $91 million, before tax, of LP income as compared with $37 million in third quarter 2024, driven by higher returns on private equity and other funds. Annualized LP yield, before tax, of 6.7% compared with 3.0% in third quarter 2024.

Net realized losses of $12 million, before tax, in third quarter 2025 were relatively flat to $13 million, before tax, in third quarter 2024.

Total invested assets of $62.6 billion increased $3.4 billion from Dec. 31, 2024, primarily due to a net increase in book value and higher valuations on fixed maturities, driven by lower interest rates and tighter credit spreads.

------

**CONFERENCE CALL**

The Hartford will discuss its third quarter 2025 financial results on a webcast at 9:00 a.m. EDT on Tuesday, Oct. 28, 2025. The call can be accessed via a live listen-only webcast or as a replay through the Investor Relations section of The Hartford's website at <u>https://ir.thehartford.com</u>. The replay will be accessible approximately one hour after the conclusion of the call and be available along with a transcript of the event for at least one year.

More detailed financial information can be found in The Hartford's Investor Financial Supplement for Sept. 30, 2025, and the third quarter 2025 Financial Results Presentation, both of which are available at <u>https://ir.thehartford.com</u>.

**About The Hartford**

The Hartford is a leader in property and casualty insurance, employee benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at <u>https://www.thehartford.com</u>.

The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read <u>The Hartford's legal notice</u>.

HIG-F

From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at <u>https://ir.thehartford.com.</u> In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the "Email Alerts" section at <u>https://ir.thehartford.com</u>.

**Media Contacts:**&nbsp;&nbsp;&nbsp;&nbsp;**Investor Contact:**

Michelle Loxton &nbsp;&nbsp;&nbsp;&nbsp;Kate Jorens

860-547-7413 &nbsp;&nbsp;&nbsp;&nbsp;860-547-4066

michelle.loxton@thehartford.com &nbsp;&nbsp;&nbsp;&nbsp;kate.jorens@thehartford.com

Matthew Sturdevant

860-547-8664

matthew.sturdevant@thehartford.com

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** |
| **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** |
| **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** |
| *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* |
|  | **Business Insurance** | **Personal Insurance** | **P&C <br>Other Ops** | **Employee Benefits** | **Hartford Funds** | **Corporate** | **Consolidated** |
| Earned premiums | $3540 | $950 | $— | $1603 | $— | $— | $6093 |
| Fee income | 11 | 8 |  | 55 | 277 | 10 | 361 |
| Net investment income | 519 | 67 | 19 | 136 | 4 | 14 | 759 |
| Net realized gains (losses) | (26) | (4) |  | (8) | 5 | 21 | (12) |
| Other revenue |  | 25 |  |  |  | 6 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | **4044** | **1046** | **19** | **1786** | **286** | **51** | **7232** |
| Benefits, losses, and loss adjustment expenses | 2030 | 598 |  | 1163 |  | 2 | 3793 |
| Amortization of DAC | 559 | 72 |  | 8 |  |  | 639 |
| Insurance operating costs and other expenses | 558 | 201 | 3 | 425 | 214 | 13 | 1414 |
| Interest expense |  |  |  |  |  | 50 | 50 |
| Amortization of other intangible assets | 7 | 1 |  | 10 |  |  | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total benefits, losses and expenses** | **3154** | **872** | **3** | **1606** | **214** | **65** | **5914** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income (loss) before income taxes** | **890** | **174** | **16** | **180** | **72** | **(14)** | **1318** |
| Income tax expense (benefit) | 180 | 35 | 4 | 36 | 15 | (32) | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **710** | **139** | **12** | **144** | **57** | **18** | **1080** |
| Preferred stock dividends |  |  |  |  |  | 6 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common stockholders** | **710** | **139** | **12** | **144** | **57** | **12** | **1074** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income available to common stockholders to core earnings (loss)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 23 | 5 |  | 8 | (5) | (21) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | 2 |  |  |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax | (8) |  |  |  |  |  | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) | (4) | (1) | 2 | (3) | 1 | 4 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings (loss)** | $**723** | $**143** | $**14** | $**149** | $**53** | $**(5)** | $**1077** |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** | **THE HARTFORD INSURANCE GROUP, INC.** |
| **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** | **CONSOLIDATING INCOME STATEMENTS** |
| **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** |
| *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* | *($ in millions)* |
|  | **Business Insurance** | **Personal Insurance** | **P&C <br>Other Ops** | **Employee Benefits** | **Hartford Funds** | **Corporate** | **Consolidated** |
| Earned premiums | $3249 | $885 | $— | $1600 | $— | $— | $5734 |
| Fee income | 11 | 8 |  | 55 | 263 | 10 | 347 |
| Net investment income | 442 | 58 | 18 | 119 | 5 | 17 | 659 |
| Net realized gains (losses) | (32) | (2) |  |  | 7 | 14 | (13) |
| Other revenue | 1 | 22 |  |  |  | 1 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | **3671** | **971** | **18** | **1774** | **275** | **42** | **6751** |
| Benefits, losses, and loss adjustment expenses | 1981 | 680 |  | 1161 |  | 1 | 3823 |
| Amortization of DAC | 512 | 65 |  | 8 |  |  | 585 |
| Insurance operating costs and other expenses | 509 | 186 | 7 | 401 | 208 | 12 | 1323 |
| Restructuring and other costs |  |  |  |  |  | 1 | 1 |
| Interest expense |  |  |  |  |  | 49 | 49 |
| Amortization of other intangible assets | 7 | 1 |  | 10 |  |  | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total benefits, losses and expenses** | **3009** | **932** | **7** | **1580** | **208** | **63** | **5799** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income (loss) before income taxes** | **662** | **39** | **11** | **194** | **67** | **(21)** | **952** |
| Income tax expense (benefit) | 134 | 8 | 1 | 38 | 13 | (9) | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income (loss)** | **528** | **31** | **10** | **156** | **54** | **(12)** | **767** |
| Preferred stock dividends | **—** | **—** | **—** | **—** | **—** | **6** | **6** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income (loss) available to common stockholders** | **528** | **31** | **10** | **156** | **54** | **(18)** | **761** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income (loss) available to common stockholders to core earnings (loss)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 31 | 2 |  | (1) | (7) | (13) | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring and other costs |  |  |  |  |  | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | 2 |  |  |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax | (26) |  |  |  |  |  | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) | (1) |  |  | (1) |  | 4 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings (loss)** | $**534** | $**33** | $**10** | $**154** | $**47** | $**(26)** | $**752** |

---

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The Hartford defines increases or decreases greater than or equal to 200%, or changes from a net gain to a net loss position, or vice versa, as "NM" or not meaningful.

**DISCUSSION OF NON-GAAP FINANCIAL MEASURES**

The Hartford uses non-GAAP financial measures in this news release to assist investors in analyzing the company's operating performance for the periods presented herein. Because The Hartford's calculation of these measures may differ from similar measures used by other companies, investors should be careful when comparing The Hartford's non-GAAP financial measures to those of other companies. Definitions and calculations of other financial measures used in this news release can be found below and in The Hartford's Investor Financial Supplement for third quarter 2025, which is available on The Hartford's website, <u>https://ir.thehartford.com.</u>

**<u>Annualized investment yield, excluding limited partnerships and other alternative investments</u>** - This non-GAAP measure is calculated as (a) the annualized net investment income, excluding limited partnerships and other alternative investments, divided by (b) the monthly average invested assets at amortized cost, as applicable, excluding derivatives book value and limited partnerships and other alternative investments. The Company believes that annualized investment yield, excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment earnings because it excludes the impact of the volatility in returns related to limited partnerships and other alternative investments. Annualized investment yield is the most directly comparable U.S GAAP measure. A reconciliation of annualized investment yield to annualized investment yield excluding limited partnerships and other alternative investments for the quarterly periods ended September 30, 2025 and 2024 is provided in the table below.

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** |
| Annualized investment yield | 4.8% | 4.4% |
| Adjustment for income from limited partnerships and other alternative investments | (0.2)% | 0.1% |
| **Annualized investment yield excluding limited partnerships and other alternative investments** | **4.6%** | **4.5%** |

---

------

**<u>Net investment income, excluding limited partnerships and other alternative investments</u>**-This non-GAAP measure is the amount of net investment income, on a Consolidated, P&C or Employee Benefits level earned from invested assets, excluding the net investment income related to limited partnerships and other alternative investments. The Company believes that net investment income, excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment earnings because it excludes the impact of the volatility in returns related to limited partnerships and other alternative investments. Net investment income is the most directly comparable U.S. GAAP measure. A reconciliation of net investment income to net investment income excluding limited partnerships and other alternative investments for the quarterly periods ended September 30, 2025 and 2024 is provided in the table below.

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** |
| Total net investment income | $759 | $659 |
| &nbsp;&nbsp;&nbsp;Adjustment for income from limited partnerships and other alternative investments | $(91) | $(37) |
| **Net investment income excluding limited partnerships and other alternative investments** | $**668** | $**622** |

---

------

**<u>Book</u> <u>value per diluted share (excluding AOCI)</u>** - This is a non-GAAP per share measure that is calculated by dividing (a) common stockholders' equity, excluding AOCI, after tax, by (b) common shares outstanding and dilutive potential common shares. The Company provides this measure to enable investors to analyze the amount of the Company's net worth that is primarily attributable to the Company's business operations. The Company believes that excluding AOCI from the numerator is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates. Book value per diluted share is the most directly comparable U.S. GAAP measure. A reconciliation of book value per diluted share to book value per diluted share (excluding AOCI) is provided in the table below.

---

| | | | |
|:---|:---|:---|:---|
| | **As of** | **As of** | **As of** |
| | **Sept 30 2025** | **Dec 31 2024** | **Change** |
| Book value per diluted share | $63.86 | $55.09 | 15.9% |
| Per diluted share impact of AOCI | $7.06 | $9.86 | (28.4%) |
| **Book value per diluted share (excluding AOCI)** | **$70.92** | **$64.95** | **9.2%** |

---

---

| | | | |
|:---|:---|:---|:---|
| | **As of** | **As of** | **As of** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| Book value per diluted share | $63.86 | $56.39 | 13.2% |
| Per diluted share impact of AOCI | $7.06 | $6.78 | 4.1% |
| **Book value per diluted share (excluding AOCI)** | **$70.92** | **$63.17** | **12.3%** |

---

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**<u>Core earnings</u> -** The Hartford uses the non-GAAP measure core earnings as an important measure of the Company's operating performance. The Hartford believes that core earnings provides investors with a valuable measure of the performance of the Company's ongoing businesses because it reveals trends in our insurance and financial services businesses that may be obscured by including the net effect of certain items. Therefore, the following items are excluded from core earnings:

• Certain realized gains and losses - Generally realized gains and losses are primarily driven by investment decisions and external economic developments, the nature and timing of which are unrelated to the insurance and underwriting aspects of our business. Accordingly, core earnings excludes the effect of all realized gains and losses that tend to be highly variable from period to period based on capital market conditions. The Hartford believes, however, that some realized gains and losses are integrally related to our insurance operations, so core earnings includes net realized gains and losses such as net periodic settlements on credit derivatives. These net realized gains and losses are directly related to an offsetting item included in the income statement such as net investment income.

• Restructuring and other costs - Costs incurred as part of a restructuring plan are not a recurring operating expense of the business.

• Loss on extinguishment of debt - Largely consisting of make-whole payments or tender premiums upon paying debt off before maturity, these losses are not a recurring operating expense of the business.

• Gains and losses on reinsurance transactions - Gains or losses on reinsurance, such as those entered into upon sale of a business or to reinsure loss reserves, are not a recurring operating expense of the business.

• Integration and other non-recurring M&A costs - These costs, including transaction costs incurred in connection with an acquired business, are incurred over a short period of time and do not represent an ongoing operating expense of the business.

• Change in loss reserves upon acquisition of a business - These changes in loss reserves are excluded from core earnings because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition.

• Deferred gain resulting from retroactive reinsurance and subsequent changes in the deferred gain - Retroactive reinsurance agreements economically transfer risk to the reinsurers and excluding the deferred gain on retroactive reinsurance and related amortization of the deferred gain from core earnings provides greater insight into the economics of the business.

• Change in valuation allowance on deferred taxes related to non-core components of before tax income - These changes in valuation allowances are excluded from core earnings because they relate to non-core components of before tax income, such as tax attributes like capital loss carryforwards.

• Results of discontinued operations - These results are excluded from core earnings for businesses sold or held for sale because such results could obscure the ability to compare period over period results for our ongoing businesses.

In addition to the above components of net income available to common stockholders that are excluded from core earnings, preferred stock dividends declared, which are excluded from net income, are included in the determination of core earnings. Preferred stock dividends are a cost of financing more akin to interest expense on debt and are expected to be a recurring expense as long as the preferred stock is outstanding.

------

Net income (loss) and net income (loss) available to common stockholders are the most directly comparable U.S. GAAP measures to core earnings. Core earnings should not be considered as a substitute for net income (loss) or net income (loss) available to common stockholders and does not reflect the overall profitability of the Company's business. Therefore, The Hartford believes that it is useful for investors to evaluate net income (loss), net income (loss) available to common stockholders, and core earnings when reviewing the Company's performance.

A reconciliation of net income (loss) to core earnings (loss) for the quarterly periods ended September 30, 2025 and 2024, for individual reporting segments can be found in this news release under the heading "The Hartford Insurance Group, Inc. Consolidating Income Statements."

**<u>Core earnings margin</u>** - The Hartford uses the non-GAAP measure core earnings margin to evaluate, and believes it is an important measure of, the Employee Benefits segment's operating performance. Core earnings margin is calculated by dividing core earnings by revenues, excluding buyouts and realized gains (losses). Net income margin, calculated by dividing net income by revenues, is the most directly comparable U.S. GAAP measure. The Company believes that core earnings margin provides investors with a valuable measure of the performance of Employee Benefits because it reveals trends in the business that may be obscured by the effect of buyouts and realized gains (losses) as well as other items excluded in the calculation of core earnings. Core earnings margin should not be considered as a substitute for net income margin and does not reflect the overall profitability of Employee Benefits. Therefore, the Company believes it is important for investors to evaluate both core earnings margin and net income margin when reviewing performance. A reconciliation of net income margin to core earnings margin for the quarterly periods ended September 30, 2025 and 2024, is set forth below.

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| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| Net income margin | 8.1% | 8.8% | (0.7) |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income margin to core earnings margin:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), before tax | 0.4% | (0.1%) | 0.5 |
| &nbsp;&nbsp;Income tax benefit on items excluded from core earnings | (0.2)% | —% | (0.2) |
| **Core earnings margin** | **8.3%** | **8.7%** | **(0.4)** |

---

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**<u>Core earnings per diluted share</u>** - This non-GAAP per share measure is calculated using the non-GAAP financial measure core earnings rather than the U.S. GAAP measure net income. The Company believes that core earnings per diluted share provides investors with a valuable measure of the Company's operating performance for the same reasons applicable to its underlying measure, core earnings. Net income (loss) available to common stockholders per diluted common share is the most directly comparable U.S. GAAP measure. Core earnings per diluted share should not be considered as a substitute for net income (loss) available to common stockholders per diluted common share and does not reflect the overall profitability of the Company's business. Therefore, the Company believes that it is useful for investors to evaluate net income (loss) available to common stockholders per diluted common share and core earnings per diluted share when reviewing the Company's performance. A reconciliation of net income available to common stockholders per diluted common share to core earnings per diluted share for the quarterly periods ended September 30, 2025 and 2024 is provided in the table below.

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| **Per Share Data** | | | |
| Diluted earnings per common share: |  |  |  |
| **Net income available to common stockholders per share**<sup>1</sup> | **$3.77** | **$2.56** | **47%** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Adjustments made to reconcile net income available to common stockholders per diluted share to core earnings per diluted share:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized losses, excluded from core earnings, before tax | 0.04 | 0.04 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | 0.01 | 0.01 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax | (0.03) | (0.09) | 67% |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) on items excluded from core earnings | (0.01) | 0.01 | NM |
| **Core earnings per diluted share** | **$3.78** | **$2.53** | **49%** |
| *[1] Net income available to common stockholders includes dilutive potential common shares* |  |  |  |

---

------

**<u>Core Earnings Return on Equity</u>** - The Company provides different measures of the return on stockholders' equity (ROE). Core earnings ROE is calculated based on non-GAAP financial measures. Core earnings ROE is calculated by dividing (a) the non-GAAP measure core earnings for the prior four fiscal quarters by (b) the non-GAAP measure average common stockholders' equity, excluding AOCI. Net income ROE is the most directly comparable U.S. GAAP measure. The Company excludes AOCI in the calculation of core earnings ROE to provide investors with a measure of how effectively the Company is investing the portion of the Company's net worth that is primarily attributable to the Company's business operations. The Company provides to investors return on equity measures based on its non-GAAP core earnings financial measure for the reasons set forth in the core earnings definition. A quantitative reconciliation of net income available to common stockholders ROE to core earnings ROE is not calculable on a forward-looking basis because it is not possible to provide a reliable forecast of realized gains and losses, which typically vary substantially from period to period.

A reconciliation of consolidated net income available to common stockholders ROE to consolidated core earnings ROE is set forth below.

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** |
| **Net income available to common stockholders ROE** | **20.3%** | **20.0%** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income available to common stockholders ROE to core earnings ROE:** |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses excluded from core earnings, before tax | 0.5% | 0.4% |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | —% | 0.1% |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax | (0.3)% | 0.7% |
| &nbsp;&nbsp;&nbsp;Income tax benefit on items not included in core earnings | —% | (0.2%) |
| &nbsp;&nbsp;&nbsp;Impact of AOCI, excluded from denominator of core earnings ROE | (2.1)% | (3.6%) |
| **Core earnings ROE** | **18.4%** | **17.4%** |

---

------

**<u>Underlying combined ratio-</u>** This non-GAAP financial measure of underwriting results represents the combined ratio before catastrophes, prior accident year development and current accident year change in loss reserves upon acquisition of a business. Combined ratio is the most directly comparable U.S. GAAP measure. The Company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year loss and loss adjustment expense reserve development. The changes to loss reserves upon acquisition of a business are excluded from underlying combined ratio because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition as such trends are valuable to our investors' ability to assess the Company's financial performance. A reconciliation of the combined ratio to the underlying combined ratio for individual reporting segments can be found in this news release under the heading "Business Results" for "Business Insurance" and "Personal Insurance". A reconciliation of the combined ratio to underlying combined ratio for lines of business within the Company's P&C reporting segments is set forth below.

**SMALL BUSINESS**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| **Combined ratio** | **87.9** | **91.6** | **(3.7)** |
| &nbsp;&nbsp;&nbsp;**Adjustment to reconcile combined ratio to underlying combined ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | (1.3) | (6.4) | 5.1 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | 3.2 | 4.1 | (0.9) |
| **Underlying combined ratio** | **89.8** | **89.3** | **0.5** |

---

**MIDDLE & LARGE BUSINESS**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| **Combined ratio** | **90.8** | **97.0** | **(6.2)** |
| &nbsp;&nbsp;&nbsp;**Adjustment to reconcile combined ratio to underlying combined ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes |  | (3.5) | 3.5 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | 0.6 | (3.3) | 3.9 |
| **Underlying combined ratio** | **91.4** | **90.2** | **1.2** |

---

------

**GLOBAL SPECIALTY**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| **Combined ratio** | **86.9** | **87.4** | **(0.5)** |
| &nbsp;&nbsp;&nbsp;**Adjustment to reconcile combined ratio to underlying combined ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | (2.2) | (3.8) | 1.6 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | 1.1 | 1.7 | (0.6) |
| **Underlying combined ratio** | **85.8** | **85.3** | **0.5** |

---

**PERSONAL AUTOMOBILE**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| **Combined ratio** | **92.5** | **105.7** | **(13.2)** |
| &nbsp;&nbsp;&nbsp;**Adjustment to reconcile combined ratio to underlying combined ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | (0.6) | (5.8) | 5.2 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | 6.0 | 1.6 | 4.4 |
| **Underlying combined ratio** | **97.9** | **101.5** | **(3.6)** |

---

**HOMEOWNERS**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** | **Change** |
| **Combined ratio** | **81.2** | **94.7** | **(13.5)** |
| &nbsp;&nbsp;&nbsp;**Adjustment to reconcile combined ratio to underlying combined ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | (8.3) | (21.0) | 12.7 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | 1.6 | 1.7 | (0.1) |
| **Underlying combined ratio** | **74.4** | **75.4** | **(1.0)** |

---

------

**<u>Underwriting gain (loss)</u>** -This non-GAAP financial measure is a before tax measure that represents earned premiums less incurred losses, loss adjustment expenses and underwriting expenses. Net income (loss) is the most directly comparable U.S. GAAP measure. The Hartford's management evaluates profitability of the Business and Personal Insurance segments primarily on the basis of underwriting gain or loss. Underwriting gain (loss) is influenced significantly by earned premium growth and the adequacy of The Hartford's pricing. Underwriting profitability over time is also greatly influenced by The Hartford's underwriting discipline, as management strives to manage exposure to loss through favorable risk selection and diversification, effective management of claims, use of reinsurance and its ability to manage its expenses. The Hartford believes that underwriting gain (loss) provides investors with a valuable measure of profitability, before tax, derived from underwriting activities, which are managed separately from the Company's investing activities. A reconciliation of net income (loss) to underwriting gain (loss) for the quarterly periods ended September 30, 2025 and 2024, is set forth below.

**<u>Underlying underwriting gain (loss)</u>** - This non-GAAP measure of underwriting profitability represents underwriting gain (loss) before current accident year catastrophes, PYD and current accident year change in loss reserves upon acquisition of a business. The most directly comparable U.S GAAP measure is net income (loss). The Company believes underlying underwriting gain (loss) is important to understand the Company's periodic earnings because the volatile and unpredictable nature (i.e., the timing and amount) of catastrophes and prior accident year reserve development could obscure underwriting trends. The changes to loss reserves upon acquisition of a business are also excluded from underlying underwriting gain (loss) because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition as such trends are valuable to our investors' ability to assess the Company's financial performance. A reconciliation of net income (loss) to underlying underwriting gain for individual reporting segments for the quarterly periods ended September 30, 2025 and 2024, is set forth below.

**BUSINESS INSURANCE**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** |
| **Net income** | $**710** | $**528** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to underwriting gain:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (519) | (442) |
| &nbsp;&nbsp;Net realized losses | 26 | 32 |
| &nbsp;&nbsp;Other expense |  | 1 |
| &nbsp;&nbsp;&nbsp;Income tax expense | 180 | 134 |
| **Underwriting gain** | **397** | **253** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile underwriting gain to underlying underwriting gain:** |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | 39 | 155 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | (60) | (36) |
| **Underlying underwriting gain** | $**376** | $**372** |

---

------

**PERSONAL INSURANCE**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **Sept 30 2025** | **Sept 30 2024** |
| **Net income** | $**139** | $**31** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income (loss) to underwriting loss:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (67) | (58) |
| &nbsp;&nbsp;&nbsp;Net realized losses | 4 | 2 |
| &nbsp;&nbsp;Net servicing and other (income) expense | (4) | (5) |
| &nbsp;&nbsp;Income tax expense | 35 | 8 |
| **Underwriting gain (loss)** | **107** | **(22)** |
| &nbsp;&nbsp;**Adjustments to reconcile underwriting gain (loss) to underlying underwriting gain:** |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | 31 | 92 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | (43) | (14) |
| **Underlying underwriting gain** | $**95** | $**56** |

---

**<u>Underlying loss and loss adjustment expense ratio -</u>** This non-GAAP financial measure is the cost of non-catastrophe loss and loss adjustment expenses incurred in the current accident year divided by earned premiums. The loss and loss adjustment expense ratio is the most directly comparable U.S. GAAP measure. Management believes that the underlying loss and loss adjustment expense ratio is a performance measure that is useful to investors as it removes the impact of volatile and unpredictable catastrophe losses and prior accident year development ("PYD"). A reconciliation of the loss and loss adjustment expense ratio to the underlying loss and loss adjustment expense ratio for the quarterly periods ended September 30, 2025 and 2024, is set forth below.

**BUSINESS INSURANCE**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sep 30 2025** | **Sep 30 2024** | **Change** |
| **Loss and loss adjustment expense ratio** | 57.3 | 61.0 | (3.7) |
| **Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 0.6 | (3.7) | 4.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying loss and loss adjustment expense ratio** | **57.9** | **57.3** | **0.6** |

---

------

**PERSONAL INSURANCE**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sep 30 2025** | **Sep 30 2024** | **Change** |
| **Loss and loss adjustment expense ratio** | 62.9 | 76.8 | (13.9) |
| **Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 1.2 | (8.8) | 10.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying loss and loss adjustment expense ratio** | **64.2** | **68.0** | **(3.8)** |

---

**PERSONAL INSURANCE - AUTOMOBILE**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sep 30 2025** | **Sep 30 2024** | **Change** |
| **Loss and loss adjustment expense ratio** | 67.1 | 81.0 | (13.9) |
| **Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 5.3 | (4.3) | 9.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying loss and loss adjustment expense ratio** | **72.3** | **76.7** | **(4.4)** |

---

**PERSONAL INSURANCE - HOMEOWNERS**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **Sep 30 2025** | **Sep 30 2024** | **Change** |
| **Loss and loss adjustment expense ratio** | 54.5 | 67.3 | (12.8) |
| **Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | (6.7) | (19.3) | 12.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying loss and loss adjustment expense ratio** | **47.8** | **48.1** | **(0.3)** |

---

------

**SAFE HARBOR STATEMENT**

Certain of the statements contained herein are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "projects," and similar references to future periods.

Forward-looking statements are based on management's current expectations and assumptions regarding future economic, competitive, legislative and other developments and their potential effect upon The Hartford Insurance Group, Inc. and its subsidiaries (collectively, the "Company" or "The Hartford"). Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual results could differ materially from expectations depending on the evolution of various factors, including the risks and uncertainties identified below, as well as factors described in such forward-looking statements; or in The Hartford's 2024 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ <u>Risks Relating to Economic, Political and Global Market Conditions:</u> challenges related to the Company's current operating environment, including global political, economic and market conditions, and the effect of financial market disruptions, economic downturns, changes in trade regulation including tariffs and other barriers or other potentially adverse macroeconomic developments on the demand for our products and returns in our investment portfolios; market risks associated with our business, including changes in credit spreads, equity prices, interest rates, inflation rate, foreign currency exchange rates and market volatility; the impact on our investment portfolio if our investment portfolio is concentrated in any particular segment of the economy; the impacts of changing climate and weather patterns on our businesses, operations and investment portfolio including on claims, demand and pricing of our products, the availability and cost of reinsurance, our modeling data used to evaluate and manage risks of catastrophes and severe weather events, the value of our investment portfolios and credit risk with reinsurers and other counterparties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ <u>Insurance Industry and Product-Related Risks:</u> the possibility of unfavorable loss development, including with respect to long-tailed exposures; the significant uncertainties that limit our ability to estimate the ultimate reserves necessary for asbestos and environmental claims; the possibility of a pandemic, civil unrest, earthquake, or other natural or man-made disaster that may adversely affect our businesses; weather and other natural physical events, including the intensity and frequency of thunderstorms, tornadoes, hail, wildfires, flooding, winter storms, hurricanes and tropical storms, as well as climate change and its potential impact on weather patterns; the possible occurrence of terrorist attacks and the Company's inability to contain its exposure as a result of, among other factors, the inability to exclude coverage for terrorist attacks from workers' compensation policies and limitations on reinsurance coverage from the federal government under applicable laws; the Company's ability to effectively price its products and policies, including its ability to obtain regulatory consents to pricing actions or to non-renewal or withdrawal of certain product lines; actions by competitors that may be larger or have greater financial resources than we do; technological changes, including usage-based methods of determining premiums, advancements in certain emerging technologies, including machine learning, predictive analytics, "big data" analysis or other artificial intelligence functions, advancements in automotive safety features, the development of autonomous vehicles, and platforms that facilitate ride sharing; the Company's ability to market, distribute and provide insurance products and investment advisory services through current and future distribution

------

channels and advisory firms; the uncertain effects of emerging claim and coverage issues; political instability, politically motivated violence or civil unrest, which may increase the frequency and severity of insured losses;

<u>Financial Strength, Credit and Counterparty Risks:</u> risks to our business, financial position, prospects and results associated with negative rating actions or downgrades in the Company's financial strength and credit ratings or negative rating actions or downgrades relating to our investments; capital requirements which are subject to many factors, including many that are outside the Company's control, such as National Association of Insurance Commissioners ("NAIC") risk based capital formulas, rating agency capital models, Funds at Lloyd's and Solvency Capital Requirement, which can in turn affect our credit and financial strength ratings, cost of capital, regulatory compliance and other aspects of our business and results; losses due to nonperformance or defaults by others, including credit risk with counterparties associated with investments, derivatives, premiums receivable, reinsurance recoverables and indemnifications provided by third parties in connection with previous dispositions; the potential for losses due to our reinsurers' unwillingness or inability to meet their obligations under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the Company against losses; state and international regulatory limitations on the ability of the Company and certain of its subsidiaries to declare and pay dividends;

<u>Risks Relating to Estimates, Assumptions and Valuations:</u> risks associated with the use of analytical models in making decisions in key areas such as underwriting, pricing, capital management, reserving, investments, reinsurance and catastrophe risk management; the potential for differing interpretations of the methodologies, estimations and assumptions that underlie the Company's fair value estimates for its investments and the evaluation of intent-to-sell impairments and allowance for credit losses on available-for-sale securities and mortgage loans; the potential for impairments of our goodwill;

<u>Strategic and Operational Risks:</u> the Company's ability to maintain the availability of its systems and safeguard the security of its data in the event of a disaster, cyber breach or other information security incident, technology failure or other unanticipated event; the potential for difficulties arising from outsourcing and similar third-party relationships; the risks, challenges and uncertainties associated with capital management plans, expense reduction initiatives and other actions; risks associated with acquisitions and divestitures, including the challenges of integrating acquired companies or businesses, which may result in our inability to achieve the anticipated benefits and synergies and may result in unintended consequences; difficulty in attracting and retaining talented and qualified personnel, including key employees, such as executives, managers and employees with strong technological, analytical and other specialized skills; the Company's ability to protect its intellectual property and defend against claims of infringement;

<u>Regulatory and Legal Risks:</u> the cost and other potential effects of increased federal, state and international regulatory and legislative developments, including those that could adversely impact the demand for the Company's products, operating costs and required capital levels; unfavorable judicial or legislative developments; the impact of changes in federal, state or foreign tax laws; regulatory requirements that could delay, deter or prevent a takeover attempt that stockholders might consider in their best interests; and the impact of potential changes in accounting principles and related financial reporting requirements.

Any forward-looking statement made by the Company in this document speaks only as of the date of this release. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

## Exhibit 99.2

![q3titlea.jpg](q3titlea.jpg)

------

**The Hartford Insurance Group, Inc.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | As of October 24, 2025 | | | |
| Address: |  |  |  |  |
| One Hartford Plaza |  | A.M. Best | Standard & Poor's | Moody's |
| Hartford, CT 06155 | **Insurance Financial Strength Ratings:** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;Hartford Fire Insurance Company | A+ | AA- | Aa3 |
|  | &nbsp;&nbsp;&nbsp;Hartford Life and Accident Insurance Company | A+ | AA- | A1 |
|  | &nbsp;&nbsp;&nbsp;Navigators Insurance Company | A+ | AA- | NR |
|  | - Hartford Fire Insurance Company and Hartford Life and Accident Insurance Company ratings are on stable outlook at A.M. Best, Standard and Poor's and Moody's | - Hartford Fire Insurance Company and Hartford Life and Accident Insurance Company ratings are on stable outlook at A.M. Best, Standard and Poor's and Moody's | - Hartford Fire Insurance Company and Hartford Life and Accident Insurance Company ratings are on stable outlook at A.M. Best, Standard and Poor's and Moody's | - Hartford Fire Insurance Company and Hartford Life and Accident Insurance Company ratings are on stable outlook at A.M. Best, Standard and Poor's and Moody's |
|  | '- Navigators Insurance Company ratings are on stable outlook at A.M. Best and Standard and Poor's | '- Navigators Insurance Company ratings are on stable outlook at A.M. Best and Standard and Poor's | '- Navigators Insurance Company ratings are on stable outlook at A.M. Best and Standard and Poor's | '- Navigators Insurance Company ratings are on stable outlook at A.M. Best and Standard and Poor's |
| Internet address: | NR - Not Rated | NR - Not Rated | NR - Not Rated | NR - Not Rated |
| http://www.thehartford.com |  |  |  |  |
|  | **Other Ratings:** |  |  |  |
| Contact: | &nbsp;&nbsp;&nbsp;Senior debt | a | A- | A3 |
| Kate Jorens | &nbsp;&nbsp;&nbsp;Junior subordinated debentures | bbb+ | BBB | Baa1 |
| SVP, Treasurer & Head of Investor Relations | &nbsp;&nbsp;&nbsp;Preferred stock | bbb+ | BBB | Baa2 |
| Phone (860) 547-4066 |  |  |  |  |
|  | -The Hartford Insurance Group, Inc. senior debt, junior subordinated debentures, and preferred stock are on stable outlook at A.M. Best, Standard and Poor's and Moody's | -The Hartford Insurance Group, Inc. senior debt, junior subordinated debentures, and preferred stock are on stable outlook at A.M. Best, Standard and Poor's and Moody's | -The Hartford Insurance Group, Inc. senior debt, junior subordinated debentures, and preferred stock are on stable outlook at A.M. Best, Standard and Poor's and Moody's | -The Hartford Insurance Group, Inc. senior debt, junior subordinated debentures, and preferred stock are on stable outlook at A.M. Best, Standard and Poor's and Moody's |
|  | Transfer Agent | Transfer Agent | Transfer Agent | Transfer Agent |
|  | Stockholder correspondence should be mailed to: | Overnight correspondence should be mailed to: | Overnight correspondence should be mailed to: | Overnight correspondence should be mailed to: |
|  | Computershare | Computershare | Computershare | Computershare |
|  | P.O. Box 505000 | 462 South 4th Street, Suite 1600 | 462 South 4th Street, Suite 1600 | 462 South 4th Street, Suite 1600 |
|  | Louisville, KY 40233 | Louisville, KY 40202 | Louisville, KY 40202 | Louisville, KY 40202 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

Common stock and preferred stock of The Hartford Insurance Group, Inc. are traded on the New York Stock Exchange under the symbols "HIG" and "HIG PR G", respectively. This report is for information purposes only. It should be read in conjunction with documents filed by The Hartford Insurance Group, Inc. with the U.S. Securities and Exchange Commission, including, without limitation, the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

------

**The Hartford Insurance Group, Inc.** 

**Investor Financial Supplement**

**Table of Contents**

---

| | | |
|:---|:---|:---|
| **<u>[Consolidated](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_13)</u>** | <u>[Consolidated Financial Results](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_13)</u> | <u>[1](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_13)</u> |
|  | <u>[Consolidated Statements of Operations](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_19)</u> | <u>[2](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_19)</u> |
|  | <u>[Operating Results by Segment](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_22)</u> | <u>[3](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_22)</u> |
|  | <u>[Consolidating Balance Sheets](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_25)</u> | <u>[4](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_25)</u> |
|  | <u>[Capital Structure](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_28)</u> | <u>[5](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_28)</u> |
|  | <u>[Statutory Capital to GAAP Stockholders' Equity Reconciliation](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_31)</u> | <u>[6](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_31)</u> |
|  | <u>[Accumulated Other Comprehensive Income (Loss)](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_34)</u> | <u>[7](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_34)</u> |
| **<u>[Property & Casualty](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_37)</u>** | <u>[Property & Casualty Income Statements](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_40)</u> | <u>[8](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_40)</u> |
|  | <u>[Property & Casualty Income Statements (Continued)](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_43)</u> | <u>[9](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_43)</u> |
|  | <u>[Property & Casualty Underwriting Ratios](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_46)</u> | <u>[10](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_46)</u> |
|  | <u>[Business Insurance Income Statements](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_49)</u> | <u>[11](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_49)</u> |
|  | <u>[Business Insurance Income Statements (Continued)](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_52)</u> | <u>[12](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_52)</u> |
|  | <u>[Business Insurance Underwriting Ratios](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_55)</u> | <u>[13](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_55)</u> |
|  | <u>[Business Insurance Supplemental Data](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_58)</u> | <u>[14](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_58)</u> |
|  | <u>[Personal Insurance Income Statements](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_61)</u> | <u>[15](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_61)</u> |
|  | <u>[Personal Insurance Income Statements (Continued)](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_64)</u> | <u>[16](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_64)</u> |
|  | <u>[Personal Insurance Underwriting Ratios](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_67)</u> | <u>[17](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_67)</u> |
|  | <u>[Personal Insurance Supplemental Data](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_70)</u> | <u>[18](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_70)</u> |
|  | <u>[Personal Insurance Supplemental Data (Continued)](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_73)</u> | <u>[19](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_73)</u> |
|  | <u>[P&C Other Operations Income Statements](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_76)</u> | <u>[20](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_76)</u> |
| **<u>[Employee Benefits](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_79)</u>** | <u>[Income Statements](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_82)</u> | <u>[21](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_82)</u> |
|  | <u>[Supplemental Data](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_85)</u> | <u>[22](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_85)</u> |
| **<u>[Hartford Funds](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_88)</u>** | <u>[Income Statements](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_91)</u> | <u>[23](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_91)</u> |
|  | <u>[Asset Value Rollforward - Assets Under Management By Asset Class](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_94)</u> | <u>[24](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_94)</u> |
| **<u>[Corporate](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_97)</u>** | <u>[Income Statements](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_100)</u> | <u>[25](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_100)</u> |
| **<u>[Investments](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_103)</u>** | <u>[Investment Income Before Tax - Consolidated](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_106)</u> | <u>[26](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_106)</u> |
|  | <u>[Investment Income Before Tax - Property & Casualty](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_109)</u> | <u>[27](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_109)</u> |
|  | <u>[Investment Income Before Tax - Employee Benefits](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_112)</u> | <u>[28](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_112)</u> |
|  | <u>[Net Investment Income](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_115)</u> | <u>[29](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_115)</u> |
|  | <u>[Components of Net Realized Gains (Losses)](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_118)</u> | <u>[30](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_118)</u> |
|  | <u>[Composition of Invested Assets](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_121)</u> | <u>[31](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_121)</u> |
|  | <u>[Invested Asset Exposures](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_124)</u> | <u>[32](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_124)</u> |
| **<u>[Appendix](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_127)</u>** | <u>[Basis of Presentation and Definitions](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_130)</u> | <u>[33](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_130)</u> |
|  | <u>[Discussion of Non-GAAP Financial Measures](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_133)</u> | <u>[34](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_133)</u> |

---

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.** 

**Consolidated Financial Results**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Highlights** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $1080 | $995 | $630 | $853 | $767 | $738 | $753 | $2705 | $2258 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income available to common stockholders [1] | $1074 | $990 | $625 | $848 | $761 | $733 | $748 | $2689 | $2242 |
| &nbsp;&nbsp;&nbsp;&nbsp;Core earnings\* | $1077 | $981 | $639 | $865 | $752 | $750 | $709 | $2697 | $2211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenues | $7232 | $6987 | $6810 | $6879 | $6751 | $6486 | $6419 | $21029 | $19656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $84995 | $83639 | $82307 | $80917 | $81219 | $79046 | $77710 |  |  |
| **Per Share and Shares Data** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Basic earnings per common share** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to common stockholders | $3.82 | $3.49 | $2.18 | $2.93 | $2.60 | $2.48 | $2.51 | $9.48 | $7.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core earnings\* | $3.83 | $3.46 | $2.23 | $2.99 | $2.57 | $2.54 | $2.38 | $9.51 | $7.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diluted earnings per common share** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to common stockholders | $3.77 | $3.44 | $2.15 | $2.88 | $2.56 | $2.44 | $2.47 | $9.34 | $7.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core earnings\* | $3.78 | $3.41 | $2.20 | $2.94 | $2.53 | $2.50 | $2.34 | $9.37 | $7.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted average common shares outstanding (basic)** | **280.9** | **283.7** | **286.6** | **289.3** | **292.6** | **295.5** | **298.1** | **283.7** | **295.4** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dilutive effect of stock compensation | 4.1 | 4.0 | 4.2 | 4.9 | 4.9 | 4.4 | 4.5 | 4.1 | 4.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Weighted average common shares outstanding and dilutive potential common shares (diluted)** | **285.0** | **287.7** | **290.8** | **294.2** | **297.5** | **299.9** | **302.6** | **287.8** | **300.0** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common shares outstanding** | **279.6** | **282.3** | **285.1** | **287.6** | **290.8** | **294.0** | **296.8** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Book value per common share** | $**64.79** | $**60.87** | $**57.91** | $**56.03** | $**57.34** | $**52.20** | $**50.99** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Per common share impact of accumulated other comprehensive income [2] | 7.17 | 8.45 | 9.05 | 10.03 | 6.89 | 10.43 | 10.10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Book value per common share (excluding AOCI)\*** | $**71.96** | $**69.32** | $**66.96** | $**66.06** | $**64.23** | $**62.63** | $**61.09** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Book value per diluted share** | $**63.86** | $**60.02** | $**57.07** | $**55.09** | $**56.39** | $**51.43** | $**50.23** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Per diluted share impact of AOCI | 7.06 | 8.33 | 8.92 | 9.86 | 6.78 | 10.28 | 9.95 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Book value per diluted share (excluding AOCI)\*** | $**70.92** | $**68.35** | $**65.99** | $**64.95** | $**63.17** | $**61.71** | $**60.18** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common shares outstanding and dilutive potential common shares** | 283.7 | 286.3 | 289.3 | 292.5 | 295.7 | 298.4 | 301.3 |  |  |
| **Return on Common Stockholders' Equity ("ROE") [3]** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income available to common stockholders' ROE ("Net income ROE") | 20.3% | 19.8% | 18.8% | 19.9% | 20.0% | 19.8% | 18.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Core earnings ROE\* | 18.4% | 17.0% | 16.2% | 16.7% | 17.4% | 17.4% | 16.6% |  |  |

---

[1]Net income available to common stockholders includes the impact of preferred stock dividends.

[2]Accumulated other comprehensive income ("AOCI") represents net of tax unrealized gain (loss) on fixed maturities, net gain (loss) on cash flow hedging instruments, foreign currency translation adjustments, liability for future policy benefits adjustments, and pension and other postretirement benefit plan adjustments.

[3]For reconciliation of Net income ROE to Core earnings ROE, see Appendix beginning on page <u>[33](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_130)</u>.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.** 

**Consolidated Statements of Operations**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Earned premiums | $6093 | $5961 | $5835 | $5809 | $5734 | $5578 | $5446 | $17889 | $16758 |
| Fee income | 361 | 342 | 346 | 354 | 347 | 339 | 333 | 1049 | 1019 |
| Net investment income | 759 | 664 | 656 | 714 | 659 | 602 | 593 | 2079 | 1854 |
| Net realized gains (losses) | (12) | (10) | (49) | (17) | (13) | (59) | 28 | (71) | (44) |
| Other revenues | 31 | 30 | 22 | 19 | 24 | 26 | 19 | 83 | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | **7232** | **6987** | **6810** | **6879** | **6751** | **6486** | **6419** | **21029** | **19656** |
| Benefits, losses and loss adjustment expenses | 3793 | 3712 | 4000 | 3779 | 3823 | 3661 | 3611 | 11505 | 11095 |
| Amortization of deferred policy acquisition costs ("DAC") | 639 | 625 | 607 | 591 | 585 | 561 | 545 | 1871 | 1691 |
| Insurance operating costs and other expenses | 1414 | 1337 | 1352 | 1367 | 1323 | 1285 | 1283 | 4103 | 3891 |
| Interest expense | 50 | 50 | 50 | 50 | 49 | 50 | 50 | 150 | 149 |
| Amortization of other intangible assets | 18 | 17 | 18 | 18 | 18 | 17 | 18 | 53 | 53 |
| Restructuring and other costs [1] |  |  |  |  | 1 |  | 1 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total benefits, losses and expenses** | **5914** | **5741** | **6027** | **5805** | **5799** | **5574** | **5508** | **17682** | **16881** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income before income taxes** | **1318** | **1246** | **783** | **1074** | **952** | **912** | **911** | **3347** | **2775** |
| Income tax expense | 238 | 251 | 153 | 221 | 185 | 174 | 158 | 642 | 517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **1080** | **995** | **630** | **853** | **767** | **738** | **753** | **2705** | **2258** |
| Preferred stock dividends | 6 | 5 | 5 | 5 | 6 | 5 | 5 | 16 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common stockholders** | **1074** | **990** | **625** | **848** | **761** | **733** | **748** | **2689** | **2242** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income available to common stockholders to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 10 | 10 | 47 | 16 | 12 | 58 | (30) | 67 | 40 |
| &nbsp;&nbsp;&nbsp;Restructuring and other costs, before tax [1] |  |  |  |  | 1 |  | 1 |  | 2 |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax [2] | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax [3] | (8) | (24) | (32) | 4 | (26) | (37) | (24) | (64) | (87) |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) [4] | (1) | 3 | (3) | (5) | 2 | (6) | 12 | (1) | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings** | $**1077** | $**981** | $**639** | $**865** | $**752** | $**750** | $**709** | $**2697** | $**2211** |

---

[1]Represents restructuring costs related to the Company's Hartford Next operational transformation and cost reduction plan.

[2]Includes integration costs in connection with the 2019 acquisition of Navigators Group.

[3]The Company recorded amortization of the deferred gain related to the Navigators adverse development cover ("Navigators ADC") of $8 and $64 for the three and nine months ended September 30, 2025 and $26 and $87 for the three and nine months ended September 30, 2024, respectively. The deferred gain has been fully amortized as of September 30, 2025.

[4]Primarily represents federal income tax expense (benefit) related to before tax items not included in core earnings.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.** 

**Operating Results By Segment**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net income (loss):** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Business Insurance | $710 | $696 | $477 | $708 | $528 | $540 | $573 | $1883 | $1641 |
| &nbsp;&nbsp;&nbsp;&nbsp;Personal Insurance | 139 | 91 | 5 | 154 | 31 | (11) | 34 | 235 | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property & Casualty Other Operations ("P&C Other Operations") | 12 | 13 | 13 | (156) | 10 | 11 | 8 | 38 | 29 |
| **Property & Casualty ("P&C")** | **861** | **800** | **495** | **706** | **569** | **540** | **615** | **2156** | **1724** |
| **Employee Benefits** | **144** | **150** | **133** | **126** | **156** | **171** | **108** | **427** | **435** |
| **Hartford Funds** | **57** | **54** | **43** | **49** | **54** | **44** | **45** | **154** | **143** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Sub-total** | **1062** | **1004** | **671** | **881** | **779** | **755** | **768** | **2737** | **2302** |
| **Corporate** | **18** | **(9)** | **(41)** | **(28)** | **(12)** | **(17)** | **(15)** | **(32)** | **(44)** |
| **Net income** | **1080** | **995** | **630** | **853** | **767** | **738** | **753** | **2705** | **2258** |
| Preferred stock dividends | 6 | 5 | 5 | 5 | 6 | 5 | 5 | 16 | 16 |
| **Net income available to common stockholders** | $**1074** | $**990** | $**625** | $**848** | $**761** | $**733** | $**748** | $**2689** | $**2242** |
| **Core earnings (loss):** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Business Insurance | $723 | $697 | $471 | $665 | $534 | $551 | $546 | $1891 | $1631 |
| &nbsp;&nbsp;&nbsp;&nbsp;Personal Insurance | 143 | 94 | 6 | 155 | 33 | (4) | 33 | 243 | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;P&C Other Operations | 14 | 14 | 13 | (106) | 10 | 14 | 7 | 41 | 31 |
| **P&C** | **880** | **805** | **490** | **714** | **577** | **561** | **586** | **2175** | **1724** |
| **Employee Benefits** | **149** | **163** | **136** | **139** | **154** | **178** | **107** | **448** | **439** |
| **Hartford Funds** | **53** | **46** | **44** | **51** | **47** | **43** | **41** | **143** | **131** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Sub-total** | **1082** | **1014** | **670** | **904** | **778** | **782** | **734** | **2766** | **2294** |
| **Corporate** | **(5)** | **(33)** | **(31)** | **(39)** | **(26)** | **(32)** | **(25)** | **(69)** | **(83)** |
| **Core earnings** | $**1077** | $**981** | $**639** | $**865** | $**752** | $**750** | $**709** | $**2697** | $**2211** |

---

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

 **The Hartford Insurance Group, Inc.** 

**Consolidating Balance Sheets**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Property & Casualty** | **Property & Casualty** | **Employee Benefits** | **Employee Benefits** | **Hartford Funds** | **Hartford Funds** | **Corporate [1]** | **Corporate [1]** | **Consolidated** | **Consolidated** |
| | **Sept 30 2025** | **Dec 31 2024** | **Sept 30 2025** | **Dec 31 2024** | **Sept 30 2025** | **Dec 31 2024** | **Sept 30 2025** | **Dec 31 2024** | **Sept 30 2025** | **Dec 31 2024** |
| Investments |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed maturities, available-for-sale ("AFS"), at fair value | $36952 | $34421 | $8059 | $7959 | $— | $— | $192 | $187 | $45203 | $42567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed maturities, at fair value using the fair value option | 144 | 254 | 47 | 54 |  |  |  |  | 191 | 308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity securities, at fair value | 149 | 212 | 34 | 46 | 117 | 109 | 270 | 236 | 570 | 603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans, net | 5037 | 4751 | 1582 | 1645 |  |  |  |  | 6619 | 6396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limited partnerships and other alternative investments | 4297 | 3974 | 1148 | 1068 |  |  | 115 |  | 5560 | 5042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other investments | 200 | 168 | 6 | 6 |  | 52 |  |  | 206 | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | 2295 | 2075 | 297 | 389 | 361 | 291 | 1266 | 1313 | 4219 | 4068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments | 49074 | 45855 | 11173 | 11167 | 478 | 452 | 1843 | 1736 | 62568 | 59210 |
| Cash | 115 | 148 | 11 | 26 | 11 | 9 | 13 |  | 150 | 183 |
| Restricted cash | 54 | 42 | 2 | 9 |  |  |  |  | 56 | 51 |
| Accrued investment income | 371 | 352 | 99 | 92 |  | 1 | 2 | 5 | 472 | 450 |
| Premiums receivable and agents' balances, net | 5983 | 5390 | 572 | 608 |  |  |  |  | 6555 | 5998 |
| Reinsurance recoverables, net [2] | 6581 | 6626 | 289 | 290 |  |  | 221 | 224 | 7091 | 7140 |
| Deferred policy acquisition costs ("DAC") | 1347 | 1206 | 32 | 33 |  |  |  |  | 1379 | 1239 |
| Deferred income taxes | 475 | 746 | (39) | 33 | 1 | 2 | 429 | 448 | 866 | 1229 |
| Goodwill | 778 | 778 | 723 | 723 | 181 | 181 | 229 | 229 | 1911 | 1911 |
| Property and equipment, net | 820 | 778 | 61 | 62 | 5 | 6 | 39 | 42 | 925 | 888 |
| Other intangible assets | 288 | 310 | 286 | 317 | 10 | 10 |  |  | 584 | 637 |
| Other assets | 1702 | 1411 | 195 | 142 | 99 | 100 | 442 | 328 | 2438 | 1981 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**67588** | $**63642** | $**13404** | $**13502** | $**785** | $**761** | $**3218** | $**3012** | $**84995** | $**80917** |
| Unpaid losses and loss adjustment expenses | $37739 | $36404 | $8081 | $8206 | $— | $— | $— | $— | $45820 | $44610 |
| Reserves for future policy benefits [2] |  |  | 293 | 290 |  |  | 163 | 158 | 456 | 448 |
| Other policyholder funds and benefits payable [2] |  |  | 410 | 401 |  |  | 204 | 213 | 614 | 614 |
| Unearned premiums | 10326 | 9368 | 47 | 40 |  |  |  |  | 10373 | 9408 |
| Debt |  |  |  |  |  |  | 4370 | 4366 | 4370 | 4366 |
| Other liabilities | 2788 | 2796 | 136 | 219 | 160 | 173 | 1828 | 1836 | 4912 | 5024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **50853** | **48568** | **8967** | **9156** | **160** | **173** | **6565** | **6573** | **66545** | **64470** |
| Common stockholders' equity, excluding AOCI\* | 17171 | 16206 | 4622 | 4706 | 625 | 588 | (2299) | (2501) | 20119 | 18999 |
| Preferred stock |  |  |  |  |  |  | 334 | 334 | 334 | 334 |
| AOCI, net of tax | (436) | (1132) | (185) | (360) |  |  | (1382) | (1394) | (2003) | (2886) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total stockholders' equity** | **16735** | **15074** | **4437** | **4346** | **625** | **588** | **(3347)** | **(3561)** | **18450** | **16447** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity** | $**67588** | $**63642** | $**13404** | $**13502** | $**785** | $**761** | $**3218** | $**3012** | $**84995** | $**80917** |

---

[1]Corporate includes fixed maturities, short-term investments, investment sales receivable and cash of approximately $1.3 billion as of both September 30, 2025 and December 31, 2024, held by the holding company of The Hartford Insurance Group, Inc. Corporate also includes investments held by Hartford Life and Accident Insurance Company ("HLA") that support reserves for run-off structured settlement and terminal funding agreement liabilities.

[2]Corporate includes retained reserves and reinsurance recoverables for the run-off life and annuity business sold in May 2018.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Capital Structure**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** |
| **Debt** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior notes | $3871 | $3870 | $3869 | $3867 | $3866 | $3865 | $3864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Junior subordinated debentures | 499 | 499 | 499 | 499 | 499 | 499 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total debt** | $**4370** | $**4369** | $**4368** | $**4366** | $**4365** | $**4364** | $**4363** |
| **Stockholders' Equity** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total stockholders' equity** | $**18450** | $**17518** | $**16844** | $**16447** | $**17008** | $**15680** | $**15468** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock | 334 | 334 | 334 | 334 | 334 | 334 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: AOCI | (2003) | (2384) | (2580) | (2886) | (2005) | (3068) | (2997) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Common stockholders' equity, excluding AOCI** | $**20119** | $**19568** | $**19090** | $**18999** | $**18679** | $**18414** | $**18131** |
| **Capitalization** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total capitalization, including AOCI, net of tax** | $**22820** | $**21887** | $**21212** | $**20813** | $**21373** | $**20044** | $**19831** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total capitalization, excluding AOCI, net of tax\*** | $**24823** | $**24271** | $**23792** | $**23699** | $**23378** | $**23112** | $**22828** |
| **Debt to Capitalization Ratios** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total debt to capitalization, including AOCI** | **19.1%** | **20.0%** | **20.6%** | **21.0%** | **20.4%** | **21.8%** | **22.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total debt to capitalization, excluding AOCI\*** | **17.6%** | **18.0%** | **18.4%** | **18.4%** | **18.7%** | **18.9%** | **19.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total debt and preferred stock to capitalization, including AOCI** | **20.6%** | **21.5%** | **22.2%** | **22.6%** | **22.0%** | **23.4%** | **23.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total debt and preferred stock to capitalization, excluding AOCI\*** | **19.0%** | **19.4%** | **19.8%** | **19.8%** | **20.1%** | **20.3%** | **20.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total rating agency adjusted debt to capitalization [1] [2]** | **20.0%** | **20.8%** | **21.5%** | **21.8%** | **21.3%** | **22.7%** | **22.9%** |
| **Fixed Charge Coverage Ratios** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total earnings to total fixed charges [3]** | **20.3:1** | **18.8:1** | **14.7:1** | **17.9:1** | **17.3:1** | **17.1:1** | **17.1:1** |

---

[1]The leverage calculation reflects adjustments, as applicable, related to defined benefit plans' unfunded pension liability, lease liabilities and uncollateralized letters of credit for Lloyd's of London for a total adjustment of $0.3 billion as of both September 30, 2025 and 2024.

[2]Results reflect 50% equity credit for the Company's outstanding junior subordinated debentures and the Company's outstanding preferred stock based on the rating agency methodology.

[3]Calculated as year to date total earnings divided by year to date total fixed charges. Total earnings represent income before income taxes and total fixed charges (excluding the impact of preferred stock dividends), less undistributed earnings from limited partnerships and other alternative investments. Total fixed charges include interest expense, preferred stock dividends, interest factor attributable to rent expense, capitalized interest and amortization of debt issuance costs.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.** 

**Statutory Capital To GAAP Stockholders' Equity Reconciliation**

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| | **P&C** | **Employee Benefits** |
| **U.S. statutory net income [1][2]** | $**1943** | $**450** |
| **U.S. statutory capital [2][3][4]** | $**14125** | $**2639** |
| **U.S. GAAP adjustments [2]:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DAC | 1296 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-admitted deferred tax assets [5] | 236 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes [6] | (446) | (353) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 115 | 723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | 14 | 286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-admitted assets other than deferred taxes | 839 | 104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset valuation and interest maintenance reserve |  | 261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit reserves | (61) | 412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized losses on investments | (605) | (500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred gain on retroactive reinsurance agreements [7] | (850) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 920 | 681 |
| **U.S. GAAP stockholders' equity of U.S. insurance entities [2]** | **15583** | **4437** |
| **U.S. GAAP stockholders' equity of international subsidiaries as well as goodwill and other intangible assets related to the acquisition of Navigators Group** | **1152** | **—** |
| **Total U.S. GAAP stockholders' equity** | $**16735** | $**4437** |

---

[1]Statutory net income is for the nine months ended September 30, 2025.

[2]Excludes insurance operations based in the U.K.

[3]For reporting purposes, statutory capital and surplus is referred to collectively as "statutory capital."

[4]The statutory capital for property and casualty insurance subsidiaries in this table does not include the value of an intercompany note owed by Hartford Holdings, Inc. ("HHI") to Hartford Fire Insurance Company.

[5]Represents the limitations on the recognition of deferred tax assets under U.S. statutory accounting principles ("U.S. STAT").

[6]Represents the tax timing differences between U.S. GAAP and U.S. STAT.

[7]Represents the deferred gain on retroactive reinsurance associated with U.S. entities for losses ceded to the asbestos and environmental adverse development cover ("A&E ADC") agreement that is recognized within a special category of surplus under U.S. STAT but is recorded within other liabilities under U.S. GAAP.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Accumulated Other Comprehensive Income (Loss)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **As Of** | **As Of** | **As Of** | **As Of** | **As Of** | **As Of** | **As Of** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** |
| Net unrealized loss on fixed maturities, AFS | $(656) | $(1029) | $(1237) | $(1539) | $(671) | $(1732) | $(1642) |
| Unrealized loss on fixed maturities, AFS with allowance for credit losses ("ACL") | (3) | (5) | (6) | (6) | (5) | (7) | (7) |
| Net gains on cash flow hedging instruments | 15 | 6 | 40 | 40 | 33 | 30 | 21 |
| Total net unrealized gain (loss) | (644) | (1028) | (1203) | (1505) | (643) | (1709) | $(1628) |
| Foreign currency translation adjustments | 43 | 45 | 29 | 29 | 41 | 35 | 36 |
| Liability for future policy benefits adjustments | 22 | 29 | 30 | 33 | 19 | 35 | 30 |
| Pension and other postretirement plan adjustments | (1424) | (1430) | (1436) | (1443) | (1422) | (1429) | (1435) |
| &nbsp;&nbsp;&nbsp;**Total AOCI** | $**(2003)** | $**(2384)** | $**(2580)** | $**(2886)** | $**(2005)** | $**(3068)** | $**(2997)** |

---

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Property & Casualty** 

**Income Statements**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Written premiums | $4560 | $4796 | $4599 | $4045 | $4245 | $4453 | $4206 | $13955 | $12904 |
| Change in unearned premium reserve | 70 | 441 | 376 | (164) | 111 | 483 | 345 | 887 | 939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earned premiums | 4490 | 4355 | 4223 | 4209 | 4134 | 3970 | 3861 | 13068 | 11965 |
| Fee income | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 57 | 57 |
| Losses and loss adjustment expenses |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year before catastrophes | 2661 | 2537 | 2454 | 2426 | 2464 | 2347 | 2300 | 7652 | 7111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes [1] | 70 | 212 | 467 | 80 | 247 | 280 | 161 | 749 | 688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development [2] | (103) | (187) | (122) | 101 | (50) | (115) | (56) | (412) | (221) |
| Total losses and loss adjustment expenses | 2628 | 2562 | 2799 | 2607 | 2661 | 2512 | 2405 | 7989 | 7578 |
| Amortization of DAC | 631 | 616 | 599 | 583 | 577 | 552 | 536 | 1846 | 1665 |
| Insurance operating costs | 728 | 681 | 696 | 689 | 669 | 655 | 642 | 2105 | 1966 |
| Amortization of other intangible assets | 8 | 7 | 8 | 8 | 8 | 7 | 8 | 23 | 23 |
| Dividends to policyholders | 12 | 11 | 10 | 10 | 10 | 9 | 10 | 33 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underwriting gain\*** | **502** | **497** | **130** | **331** | **228** | **254** | **279** | **1129** | **761** |
| Net investment income | 605 | 526 | 512 | 562 | 518 | 471 | 459 | 1643 | 1448 |
| Net realized gains (losses) | (30) | (26) | (26) | (9) | (34) | (61) | 13 | (82) | (82) |
| Net servicing and other income (expense) | 3 | 4 | 4 | 2 |  | 5 | 2 | 11 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income before income taxes** | **1080** | **1001** | **620** | **886** | **712** | **669** | **753** | **2701** | **2134** |
| Income tax expense | 219 | 201 | 125 | 180 | 143 | 129 | 138 | 545 | 410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **861** | **800** | **495** | **706** | **569** | **540** | **615** | **2156** | **1724** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 28 | 28 | 24 | 6 | 33 | 62 | (15) | 80 | 80 |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax [2] | (8) | (24) | (32) | 4 | (26) | (37) | (24) | (64) | (87) |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) [3] | (3) | (1) | 1 | (4) | (1) | (6) | 8 | (3) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings** | $**880** | $**805** | $**490** | $**714** | $**577** | $**561** | $**586** | $**2175** | $**1724** |
| **ROE** |  |  |  |  |  |  |  |  |  |
| **Net income available to common stockholders [4]** | **21.5%** | **20.6%** | **18.8%** | **20.5%** | **19.9%** | **19.9%** | **18.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income available to common stockholders to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 0.7% | 0.8% | 1.1% | 0.8% | 1.1% | 1.2% | 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax [2] | (0.5%) | (0.7%) | (0.8%) | (0.7%) | 1.0% | 1.3% | 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Income tax benefit [3] | (0.1%) | —% | (0.1%) | —% | (0.4%) | (0.5%) | (0.6%) |  |  |
| &nbsp;&nbsp;&nbsp;Impact of AOCI, excluded from core earnings ROE | (1.0%) | (2.0%) | (1.8%) | (2.3%) | (2.7%) | (3.1%) | (2.6%) |  |  |
| **Core earnings [4]** | **20.7%** | **18.8%** | **17.3%** | **18.4%** | **19.0%** | **18.9%** | **18.1%** |  |  |

---

[1]The three months ended September 30, 2024 included $104 of losses, net of reinsurance, from Hurricane Helene, including $55 in Business Insurance and $49 in Personal Insurance.

[2]Refer to [3] on page <u>[2](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_19)</u> for more information about the change in deferred gain on retroactive reinsurance.

[3]Primarily represents federal income tax expense (benefit) related to before tax items not included in core earnings.

[4]Net income ROE and Core earnings ROE are calculated by allocating a portion of debt, interest expense, preferred stock and preferred stock dividends accounted for within Corporate to Property & Casualty.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Property & Casualty** 

**Income Statements (Continued)**

Prior accident year development included the following unfavorable (favorable) reserve development:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Workers' compensation | $(62) | $(61) | $(65) | $(70) | $(69) | $(52) | $(67) | $(188) | $(188) |
| Workers' compensation discount accretion | 11 | 11 | 12 | 10 | 11 | 11 | 12 | 34 | 34 |
| General liability |  |  |  | 130 | 32 | 32 | 17 |  | 81 |
| Marine |  |  |  |  |  | (8) | 7 |  | (1) |
| Package business |  |  |  |  | (5) | (1) |  |  | (6) |
| Commercial property | (5) | (20) | (3) |  | (2) | (2) | (3) | (28) | (7) |
| Professional liability |  | (11) |  | (20) |  | (2) | (5) | (11) | (7) |
| Bond |  | (22) |  | (34) |  | (22) |  | (22) | (22) |
| Assumed reinsurance |  |  |  |  |  | 15 | 9 |  | 24 |
| Commercial automobile liability |  |  |  | 21 | 16 | 10 |  |  | 26 |
| Personal automobile liability | (33) | (10) | (12) | (17) |  | (13) |  | (55) | (13) |
| Homeowners | (5) | (13) | (18) | (13) | (5) | (10) |  | (36) | (15) |
| Net asbestos and environmental reserves |  |  |  | 141 |  |  |  |  |  |
| Catastrophes |  | (39) |  | (49) |  | (38) |  | (39) | (38) |
| Uncollectible reinsurance | 6 |  |  | (19) |  |  |  | 6 |  |
| Other reserve re-estimates, net [1] | (7) | 2 | (4) | 17 | (2) | 2 | (2) | (9) | (2) |
| **Prior accident year development before change in deferred gain** | **(95)** | **(163)** | **(90)** | **97** | **(24)** | **(78)** | **(32)** | **(348)** | **(134)** |
| Change in deferred gain on retroactive reinsurance included in other liabilities [2] | (8) | (24) | (32) | 4 | (26) | (37) | (24) | (64) | (87) |
| **Total prior accident year development** | $**(103)** | $**(187)** | $**(122)** | $**101** | $**(50)** | $**(115)** | $**(56)** | $**(412)** | $**(221)** |

---

[1]Other reserve re-estimates, net includes a favorable change in automobile physical damage reserves within Personal Insurance of $(6) and $(26) for the three and nine months ended September 30, 2025 and $(10) and $(24) for the three and nine months ended September 30, 2024, respectively.

[2]Refer to [3] on page <u>[2](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_19)</u> for more information about the change in deferred gain on retroactive reinsurance.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Property & Casualty**

**Underwriting Ratios**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Underwriting Gain** | $**502** | $**497** | $**130** | $**331** | $**228** | $**254** | $**279** | $**1129** | $**761** |
| **Underwriting Ratios** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss and loss adjustment expense ratio | 58.5 | 58.8 | 66.3 | 61.9 | 64.4 | 63.3 | 62.3 | 61.1 | 63.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Expense ratio [1] | 30.0 | 29.5 | 30.4 | 29.9 | 29.9 | 30.1 | 30.2 | 30.0 | 30.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Policyholder dividend ratio | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 |
| **Combined ratio** | **88.8** | **88.6** | **96.9** | **92.1** | **94.5** | **93.6** | **92.8** | **91.4** | **93.6** |
| &nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 0.7 | (0.6) | (8.2) | (4.3) | (4.8) | (4.2) | (2.7) | (2.5) | (4.0) |
| **Underlying combined ratio\*** | **89.6** | **88.0** | **88.8** | **87.8** | **89.7** | **89.5** | **90.1** | **88.8** | **89.7** |
| **Loss and loss adjustment expense ratio** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Underlying loss and loss adjustment expense ratio\* | 59.3 | 58.3 | 58.1 | 57.6 | 59.6 | 59.1 | 59.6 | 58.6 | 59.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes | 1.6 | 4.9 | 11.1 | 1.9 | 6.0 | 7.1 | 4.2 | 5.7 | 5.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development [2] | (2.3) | (4.3) | (2.9) | 2.4 | (1.2) | (2.9) | (1.5) | (3.2) | (1.8) |
| **Total loss and loss adjustment expense ratio** | **58.5** | **58.8** | **66.3** | **61.9** | **64.4** | **63.3** | **62.3** | **61.1** | **63.3** |

---

[1]Integration and transaction costs related to the acquisition of Navigators Group are not included in the expense ratio.

[2]Refer to [3] on page <u>[2](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_19)</u> for more information about the change in deferred gain on retroactive reinsurance.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Business Insurance**

**Income Statements**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Written premiums | $3573 | $3816 | $3686 | $3174 | $3275 | $3540 | $3362 | $11075 | $10177 |
| Change in unearned premium reserve | 33 | 392 | 362 | (129) | 26 | 419 | 314 | 787 | 759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earned premiums | 3540 | 3424 | 3324 | 3303 | 3249 | 3121 | 3048 | 10288 | 9418 |
| Fee income | 11 | 11 | 11 | 10 | 11 | 11 | 11 | 33 | 33 |
| Losses and loss adjustment expenses |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year before catastrophes | 2051 | 1952 | 1891 | 1849 | 1862 | 1750 | 1725 | 5894 | 5337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes [1] | 39 | 114 | 280 | 67 | 155 | 155 | 109 | 433 | 419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development [2] | (60) | (146) | (83) | (58) | (36) | (81) | (56) | (289) | (173) |
| Total losses and loss adjustment expenses | 2030 | 1920 | 2088 | 1858 | 1981 | 1824 | 1778 | 6038 | 5583 |
| Amortization of DAC | 559 | 546 | 531 | 516 | 512 | 489 | 476 | 1636 | 1477 |
| Insurance operating costs | 546 | 507 | 512 | 505 | 497 | 484 | 487 | 1565 | 1468 |
| Amortization of other intangible assets | 7 | 7 | 7 | 8 | 7 | 7 | 7 | 21 | 21 |
| Dividends to policyholders | 12 | 11 | 10 | 10 | 10 | 9 | 10 | 33 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underwriting gain** | **397** | **444** | **187** | **416** | **253** | **319** | **301** | **1028** | **873** |
| Net investment income | 519 | 449 | 437 | 479 | 442 | 402 | 391 | 1405 | 1235 |
| Net realized gains (losses) | (26) | (20) | (24) | (3) | (32) | (50) | 12 | (70) | (70) |
| Other income (expense) [3] |  | (1) | (1) | (1) | (1) | (1) | (2) | (2) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income before income taxes** | **890** | **872** | **599** | **891** | **662** | **670** | **702** | **2361** | **2034** |
| Income tax expense | 180 | 176 | 122 | 183 | 134 | 130 | 129 | 478 | 393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **710** | **696** | **477** | **708** | **528** | **540** | **573** | **1883** | **1641** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 23 | 23 | 22 | 2 | 31 | 50 | (13) | 68 | 68 |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax [3] | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax [2] | (8) | (24) | (32) | (58) | (26) | (37) | (24) | (64) | (87) |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) [4] | (4) |  | 2 | 11 | (1) | (4) | 8 | (2) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings** | $**723** | $**697** | $**471** | $**665** | $**534** | $**551** | $**546** | $**1891** | $**1631** |

---

[1]Refer to [1] on page <u>[8](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_40)</u> for information about catastrophe losses related to Hurricane Helene for the three months ended September 30, 2024.

[2]Refer to [3] on page <u>[2](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_19)</u> for information about the change in deferred gain on retroactive reinsurance on the Navigators ADC.

[3]Includes Navigators Group integration costs.

[4]Primarily represents federal income tax expense (benefit) related to before tax items not included in core earnings.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Business Insurance**

**Income Statements (Continued)**

Prior accident year development included the following unfavorable (favorable) reserve development:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Workers' compensation | $(62) | $(61) | $(65) | $(70) | $(69) | $(52) | $(67) | $(188) | $(188) |
| Workers' compensation discount accretion | 11 | 11 | 12 | 10 | 11 | 11 | 12 | 34 | 34 |
| General liability |  |  |  | 130 | 32 | 32 | 17 |  | 81 |
| Marine |  |  |  |  |  | (8) | 7 |  | (1) |
| Package business |  |  |  |  | (5) | (1) |  |  | (6) |
| Commercial property | (5) | (20) | (3) |  | (2) | (2) | (3) | (28) | (7) |
| Professional liability |  | (11) |  | (20) |  | (2) | (5) | (11) | (7) |
| Bond |  | (22) |  | (34) |  | (22) |  | (22) | (22) |
| Assumed reinsurance |  |  |  |  |  | 15 | 9 |  | 24 |
| Automobile liability |  |  |  | 21 | 16 | 10 |  |  | 26 |
| Catastrophes |  | (28) |  | (34) |  | (33) |  | (28) | (33) |
| Uncollectible reinsurance |  |  |  |  |  |  | (7) |  | (7) |
| Other reserve re-estimates, net | 4 | 9 | 5 | (3) | 7 | 8 | 5 | 18 | 20 |
| **Prior accident year development before change in deferred gain** | **(52)** | **(122)** | **(51)** | **—** | **(10)** | **(44)** | **(32)** | **(225)** | **(86)** |
| Change in deferred gain on retroactive reinsurance included in other liabilities [1] | (8) | (24) | (32) | (58) | (26) | (37) | (24) | (64) | (87) |
| **Total prior accident year development** | $**(60)** | $**(146)** | $**(83)** | $**(58)** | $**(36)** | $**(81)** | $**(56)** | $**(289)** | $**(173)** |

---

[1]Includes amortization of the deferred gain on retroactive reinsurance related to the Navigators ADC.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Business Insurance**

**Underwriting Ratios** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Underwriting Gain** | $**397** | $**444** | $**187** | $**416** | $**253** | $**319** | $**301** | $**1028** | $**873** |
| **Underwriting Ratios** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss and loss adjustment expense ratio | 57.3 | 56.1 | 62.8 | 56.3 | 61.0 | 58.4 | 58.3 | 58.7 | 59.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Expense ratio [1] | 31.1 | 30.6 | 31.3 | 30.8 | 30.9 | 31.1 | 31.5 | 31.0 | 31.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Policyholder dividend ratio | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| **Combined ratio** | **88.8** | **87.0** | **94.4** | **87.4** | **92.2** | **89.8** | **90.1** | **90.0** | **90.7** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 0.6 | 1.0 | (5.9) | (0.2) | (3.7) | (2.4) | (1.8) | (1.4) | (2.6) |
| **Underlying combined ratio** | **89.4** | **88.0** | **88.4** | **87.1** | **88.6** | **87.4** | **88.4** | **88.6** | **88.1** |
| **Loss and loss adjustment expense ratio** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underlying loss and loss adjustment expense ratio | 57.9 | 57.0 | 56.9 | 56.0 | 57.3 | 56.1 | 56.6 | 57.3 | 56.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes | 1.1 | 3.3 | 8.4 | 2.0 | 4.8 | 5.0 | 3.6 | 4.2 | 4.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | (1.7) | (4.3) | (2.5) | (1.8) | (1.1) | (2.6) | (1.8) | (2.8) | (1.8) |
| **Total loss and loss adjustment expense ratio** | **57.3** | **56.1** | **62.8** | **56.3** | **61.0** | **58.4** | **58.3** | **58.7** | **59.3** |
| **Combined Ratios by Line of Business** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Small Business** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Combined ratio** | **87.9** | **89.7** | **93.3** | **83.8** | **91.6** | **88.7** | **89.0** | **90.2** | **89.8** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjustments to reconcile combined ratio to underlying combined ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes | (1.3) | (5.1) | (8.0) | (1.2) | (6.4) | (6.1) | (3.8) | (4.7) | (5.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | 3.2 | 4.5 | 4.1 | 4.1 | 4.1 | 4.2 | 4.3 | 3.9 | 4.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying combined ratio** | **89.8** | **89.0** | **89.4** | **86.7** | **89.3** | **86.8** | **89.6** | **89.4** | **88.5** |
| &nbsp;&nbsp;&nbsp;**Middle & Large Business** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Combined ratio** | **90.8** | **86.6** | **99.8** | **93.9** | **97.0** | **95.9** | **94.0** | **92.3** | **95.6** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjustments to reconcile combined ratio to underlying combined ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes |  | (1.1) | (8.9) | (0.5) | (3.5) | (4.8) | (3.6) | (3.3) | (4.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | 0.6 | 3.6 | (0.3) | (3.3) | (3.3) | (1.4) | (1.2) | 1.3 | (2.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying combined ratio** | **91.4** | **89.1** | **90.6** | **90.2** | **90.2** | **89.6** | **89.2** | **90.4** | **89.7** |
| &nbsp;&nbsp;&nbsp;**Global Specialty** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Combined ratio** | **86.9** | **85.9** | **89.3** | **84.7** | **87.4** | **83.4** | **87.8** | **87.3** | **86.2** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjustments to reconcile combined ratio to underlying combined ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes | (2.2) | (3.2) | (8.7) | (5.4) | (3.8) | (3.5) | (3.3) | (4.6) | (3.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | 1.1 | 2.1 | 3.4 | 4.3 | 1.7 | 5.3 | 0.7 | 2.2 | 2.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying combined ratio** | **85.8** | **84.8** | **84.0** | **83.6** | **85.3** | **85.2** | **85.3** | **84.9** | **85.3** |

---

[1]Integration and transaction costs related to the acquisition of Navigators Group are not included in the expense ratio.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Business Insurance**

**Supplemental Data**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Written Premiums** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Small Business** | $**1490** | $**1503** | $**1553** | $**1330** | $**1347** | $**1373** | $**1425** | $**4546** | $**4145** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Middle & Large Business** | **1231** | **1197** | **1111** | **1059** | **1117** | **1140** | **1016** | **3539** | **3273** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Middle Market | 1054 | 1039 | 931 | 900 | 962 | 993 | 872 | 3024 | 2827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Accounts and Other | 177 | 158 | 180 | 159 | 155 | 147 | 144 | 515 | 446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Global Specialty [1]** | **836** | **1100** | **1006** | **769** | **797** | **1013** | **907** | **2942** | **2717** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. | 551 | 619 | 559 | 533 | 544 | 595 | 505 | 1729 | 1644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | 114 | 142 | 113 | 123 | 102 | 125 | 106 | 369 | 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Re | 171 | 339 | 334 | 113 | 151 | 293 | 296 | 844 | 740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other** | **16** | **16** | **16** | **16** | **14** | **14** | **14** | **48** | **42** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**3573** | $**3816** | $**3686** | $**3174** | $**3275** | $**3540** | $**3362** | $**11075** | $**10177** |
| **Earned Premiums** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Small Business** | $**1465** | $**1418** | $**1360** | $**1355** | $**1323** | $**1284** | $**1248** | $**4243** | $**3855** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Middle & Large Business** | **1144** | **1100** | **1075** | **1069** | **1065** | **1021** | **996** | **3319** | **3082** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Middle Market | 976 | 942 | 924 | 918 | 921 | 879 | 864 | 2842 | 2664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Accounts and Other | 168 | 158 | 151 | 151 | 144 | 142 | 132 | 477 | 418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Global Specialty [1]** | **915** | **890** | **873** | **865** | **847** | **802** | **789** | **2678** | **2438** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. | 568 | 549 | 540 | 547 | 540 | 514 | 503 | 1657 | 1557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | 122 | 119 | 113 | 115 | 113 | 108 | 105 | 354 | 326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Re | 225 | 222 | 220 | 203 | 194 | 180 | 181 | 667 | 555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other** | **16** | **16** | **16** | **14** | **14** | **14** | **15** | **48** | **43** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**3540** | $**3424** | $**3324** | $**3303** | $**3249** | $**3121** | $**3048** | $**10288** | $**9418** |
| **Business Insurance Statistical Premium Information** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Small Business** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net New Business Premium | $308 | $305 | $298 | $264 | $278 | $291 | $268 | $911 | $837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Renewal Written Price Increases | 5.2% | 5.9% | 6.5% | 7.5% | 6.5% | 6.4% | 5.6% | 5.9% | 6.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy Count Retention | 84% | 83% | 84% | 84% | 84% | 84% | 85% | 84% | 84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policies In-Force (in thousands) | 1640 | 1615 | 1591 | 1570 | 1558 | 1537 | 1512 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Middle Market [2]** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net New Business Premium | $211 | $190 | $188 | $180 | $176 | $187 | $174 | $589 | $537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Renewal Written Price Increases | 5.6% | 6.7% | 7.1% | 6.5% | 6.7% | 6.7% | 7.1% | 6.4% | 6.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premium Retention | 84% | 82% | 81% | 84% | 85% | 83% | 84% | 82% | 84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Global Specialty** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross New Business Premium [3] | $238 | $278 | $225 | $224 | $233 | $264 | $223 | $741 | $720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Renewal Written Price Increases [4] | 4.3% | 5.0% | 6.0% | 5.8% | 5.5% | 6.3% | 6.1% | 5.1% | 6.0% |

---

[1]U.S. business includes a small amount of business issued by U.S. insurance entities to U.S. policyholders with international-based exposures. International represents Navigators Group business written in either Lloyd's market or other international markets, which includes U.S.-based exposures.

[2]Except for net new business premium, metrics for Middle Market exclude loss sensitive and programs businesses.

[3]Excludes Global Re and is before ceded reinsurance.

[4]Excludes Global Re, offshore energy policies, credit and political risk insurance policies, political violence and terrorism policies, and any business under which the managing agent of our Lloyd's Syndicate 1221 delegates underwriting authority to coverholders and other third parties.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Personal Insurance**

**Income Statements**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Written premiums | $987 | $980 | $913 | $871 | $970 | $913 | $844 | $2880 | $2727 |
| Change in unearned premium reserve | 37 | 49 | 14 | (35) | 85 | 64 | 31 | 100 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earned premiums | 950 | 931 | 899 | 906 | 885 | 849 | 813 | 2780 | 2547 |
| Fee income | 8 | 8 | 8 | 9 | 8 | 8 | 8 | 24 | 24 |
| Losses and loss adjustment expenses |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year before catastrophes | 610 | 585 | 563 | 577 | 602 | 597 | 575 | 1758 | 1774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes [1] | 31 | 98 | 187 | 13 | 92 | 125 | 52 | 316 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | (43) | (41) | (39) | (53) | (14) | (34) | (7) | (123) | (55) |
| Total losses and loss adjustment expenses | 598 | 642 | 711 | 537 | 680 | 688 | 620 | 1951 | 1988 |
| Amortization of DAC | 72 | 70 | 68 | 67 | 65 | 63 | 60 | 210 | 188 |
| Insurance operating costs | 180 | 172 | 182 | 182 | 169 | 169 | 153 | 534 | 491 |
| Amortization of other intangible assets | 1 |  | 1 |  | 1 |  | 1 | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underwriting gain (loss)** | **107** | **55** | **(55)** | **129** | **(22)** | **(63)** | **(13)** | **107** | **(98)** |
| Net investment income | 67 | 58 | 57 | 64 | 58 | 50 | 50 | 182 | 158 |
| Net realized gains (losses) | (4) | (4) | (2) | (5) | (2) | (8) | 1 | (10) | (9) |
| Net servicing and other income (expense) | 4 | 5 | 5 | 3 | 5 | 6 | 4 | 14 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income (loss) before income taxes** | **174** | **114** | **5** | **191** | **39** | **(15)** | **42** | **293** | **66** |
| Income tax expense (benefit) | 35 | 23 |  | 37 | 8 | (4) | 8 | 58 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income (loss)** | **139** | **91** | **5** | **154** | **31** | **(11)** | **34** | **235** | **54** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income (loss) to core earnings (loss):** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 5 | 3 | 2 | 3 | 2 | 9 | (2) | 10 | 9 |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) [2] | (1) |  | (1) | (2) |  | (2) | 1 | (2) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings (loss)** | $**143** | $**94** | $**6** | $**155** | $**33** | $**(4)** | $**33** | $**243** | $**62** |

---

[1]Refer to [1] on page <u>[8](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_40)</u> for information about catastrophe losses related to Hurricane Helene.

[2]Represents federal income tax expense (benefit) related to before tax items not included in core earnings.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Personal Insurance**

**Income Statements (Continued)**

Prior accident year development included the following unfavorable (favorable) reserve development:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Automobile liability | $(33) | $(10) | $(12) | $(17) | $— | $(13) | $— | $(55) | $(13) |
| Homeowners | (5) | (13) | (18) | (13) | (5) | (10) |  | (36) | (15) |
| Catastrophes |  | (11) |  | (15) |  | (5) |  | (11) | (5) |
| Uncollectible reinsurance |  |  |  |  |  |  |  |  |  |
| Other reserve re-estimates, net [1] | (5) | (7) | (9) | (8) | (9) | (6) | (7) | (21) | (22) |
| **Total prior accident year development** | $**(43)** | $**(41)** | $**(39)** | $**(53)** | $**(14)** | $**(34)** | $**(7)** | $**(123)** | $**(55)** |

---

[1]Other reserve re-estimates, net includes a favorable change in automobile physical damage reserves of $(6) and $(26) for the three and nine months ended September 30, 2025 and $(10) and $(24) for the three and nine months ended September 30, 2024, respectively.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Personal Insurance**

**Underwriting Ratios**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Underwriting Gain (Loss)** | $**107** | $**55** | $**(55)** | $**129** | $**(22)** | $**(63)** | $**(13)** | $**107** | $**(98)** |
| **Underwriting Ratios** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss and loss adjustment expense ratio | 62.9 | 69.0 | 79.1 | 59.3 | 76.8 | 81.0 | 76.3 | 70.2 | 78.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expense ratio | 25.8 | 25.1 | 27.0 | 26.5 | 25.6 | 26.4 | 25.3 | 26.0 | 25.8 |
| **Combined ratio** | **88.7** | **94.1** | **106.1** | **85.8** | **102.5** | **107.4** | **101.6** | **96.2** | **103.8** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 1.2 | (6.1) | (16.5) | 4.4 | (8.8) | (10.7) | (5.5) | (7.0) | (8.4) |
| **Underlying combined ratio** | **90.0** | **88.0** | **89.7** | **90.2** | **93.7** | **96.7** | **96.1** | **89.2** | **95.4** |
| **Loss and loss adjustment expense ratio** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underlying loss and loss adjustment expense ratio | 64.2 | 62.8 | 62.6 | 63.7 | 68.0 | 70.3 | 70.7 | 63.2 | 69.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes | 3.3 | 10.5 | 20.8 | 1.4 | 10.4 | 14.7 | 6.4 | 11.4 | 10.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | (4.5) | (4.4) | (4.3) | (5.8) | (1.6) | (4.0) | (0.9) | (4.4) | (2.2) |
| **Total loss and loss adjustment expense ratio** | **62.9** | **69.0** | **79.1** | **59.3** | **76.8** | **81.0** | **76.3** | **70.2** | **78.1** |
| **Combined Ratios by Product** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Automobile** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Combined ratio** | **92.5** | **94.0** | **93.5** | **98.3** | **105.7** | **105.4** | **103.9** | **93.3** | **105.0** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjustment to reconcile combined ratio to underlying combined ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes | (0.6) | (1.8) | (1.2) |  | (5.8) | (3.6) | (1.0) | (1.2) | (3.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | 6.0 | 3.0 | 3.8 | 4.7 | 1.6 | 3.1 | 1.6 | 4.3 | 2.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying combined ratio** | **97.9** | **95.2** | **96.1** | **103.0** | **101.5** | **104.9** | **104.4** | **96.4** | **103.6** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Homeowners** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Combined ratio** | **81.2** | **94.4** | **133.2** | **57.8** | **94.7** | **114.5** | **96.2** | **101.9** | **101.8** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjustment to reconcile combined ratio to underlying combined ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current accident year catastrophes | (8.3) | (28.8) | (63.7) | (4.8) | (21.0) | (40.4) | (18.7) | (32.5) | (26.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | 1.6 | 7.1 | 5.6 | 8.6 | 1.7 | 3.7 | (0.5) | 4.7 | 1.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underlying combined ratio** | **74.4** | **72.7** | **75.1** | **61.7** | **75.4** | **77.8** | **77.0** | **74.1** | **76.7** |

---

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Personal Insurance**

**Supplemental Data**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Distribution** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Written Premiums** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Direct | $798 | $796 | $758 | $716 | $815 | $780 | $728 | $2352 | $2323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agency | 189 | 184 | 155 | 155 | 155 | 133 | 116 | 528 | 404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**987** | $**980** | $**913** | $**871** | $**970** | $**913** | $**844** | $**2880** | $**2727** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Earned Premiums** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Direct | $781 | $776 | $757 | $769 | $761 | $735 | $706 | $2314 | $2202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agency | 169 | 155 | 142 | 137 | 124 | 114 | 107 | 466 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**950** | $**931** | $**899** | $**906** | $**885** | $**849** | $**813** | $**2780** | $**2547** |
| **Product Line** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Written Premiums** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile | $633 | $633 | $627 | $590 | $649 | $617 | $600 | $1893 | $1866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Homeowners | 354 | 347 | 286 | 281 | 321 | 296 | 244 | 987 | 861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**987** | $**980** | $**913** | $**871** | $**970** | $**913** | $**844** | $**2880** | $**2727** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Earned Premiums** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile | $634 | $628 | $618 | $627 | $616 | $592 | $566 | $1880 | $1774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Homeowners | 316 | 303 | 281 | 279 | 269 | 257 | 247 | 900 | 773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**950** | $**931** | $**899** | $**906** | $**885** | $**849** | $**813** | $**2780** | $**2547** |

---

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Personal Insurance**

**Supplemental Data (Continued)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Statistical Premium Information (Year Over Year)** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net New Business Premium** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile | $71 | $81 | $81 | $77 | $83 | $82 | $72 | $233 | $237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Homeowners | $59 | $69 | $62 | $59 | $60 | $47 | $34 | $190 | $141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Renewal Written Price Increases** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile | 11.3% | 13.9% | 15.7% | 19.0% | 20.7% | 23.4% | 25.5% | 13.6% | 23.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Homeowners | 12.6% | 12.6% | 12.3% | 13.8% | 15.1% | 14.9% | 15.2% | 12.5% | 15.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Effective Policy Count Retention** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile | 80% | 79% | 79% | 79% | 79% | 79% | 79% | 79% | 79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Homeowners | 82% | 82% | 83% | 83% | 83% | 84% | 83% | 82% | 83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Policies In-Force (in thousands)** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile | 1091 | 1121 | 1146 | 1171 | 1193 | 1214 | 1233 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Homeowners | 723 | 724 | 719 | 712 | 707 | 702 | 701 |  |  |

---

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**P&C Other Operations**

**Income Statements**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Losses and loss adjustment expenses |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior accident year development | $— | $— | $— | $212 | $— | $— | $7 | $— | $7 |
| Total losses and loss adjustment expenses |  |  |  | 212 |  |  | 7 |  | 7 |
| Insurance operating costs | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 6 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Underwriting loss** | **(2)** | **(2)** | **(2)** | **(214)** | **(3)** | **(2)** | **(9)** | **(6)** | **(14)** |
| Net investment income | 19 | 19 | 18 | 19 | 18 | 19 | 18 | 56 | 55 |
| Net realized losses |  | (2) |  | (1) |  | (3) |  | (2) | (3) |
| Other expense | (1) |  |  |  | (4) |  |  | (1) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income (loss) before income taxes** | **16** | **15** | **16** | **(196)** | **11** | **14** | **9** | **47** | **34** |
| Income tax expense (benefit) | 4 | 2 | 3 | (40) | 1 | 3 | 1 | 9 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income (loss)** | **12** | **13** | **13** | **(156)** | **10** | **11** | **8** | **38** | **29** |
| **Adjustments to reconcile net income (loss) to core earnings (loss):** |  |  |  |  |  |  |  |  |  |
| Net realized losses excluded from core earnings, before tax |  | 2 |  | 1 |  | 3 |  | 2 | 3 |
| Change in deferred gain on retroactive reinsurance, before tax |  |  |  | 62 |  |  |  |  |  |
| Income tax expense (benefit) [1] | 2 | (1) |  | (13) |  |  | (1) | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings (loss)** | $**14** | $**14** | $**13** | $**(106)** | $**10** | $**14** | $**7** | $**41** | $**31** |

---

[1]Represents federal income tax expense (benefit) related to before tax items not included in core earnings (loss).

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Employee Benefits**

**Income Statements**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Earned premiums | $1603 | $1606 | $1612 | $1600 | $1600 | $1608 | $1585 | $4821 | $4793 |
| Fee income | 55 | 57 | 56 | 56 | 55 | 57 | 54 | 168 | 166 |
| Net investment income | 136 | 118 | 126 | 130 | 119 | 112 | 114 | 380 | 345 |
| Net realized gains (losses) | (8) | (16) | (4) | (16) |  | (9) | 1 | (28) | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | **1786** | **1765** | **1790** | **1770** | **1774** | **1768** | **1754** | **5341** | **5296** |
| Benefits, losses and loss adjustment expenses | 1163 | 1150 | 1199 | 1169 | 1161 | 1147 | 1204 | 3512 | 3512 |
| Amortization of DAC | 8 | 9 | 8 | 8 | 8 | 9 | 9 | 25 | 26 |
| Insurance operating costs and other expenses | 425 | 407 | 406 | 424 | 401 | 387 | 397 | 1238 | 1185 |
| Amortization of other intangible assets | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 30 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total benefits, losses and expenses** | **1606** | **1576** | **1623** | **1611** | **1580** | **1553** | **1620** | **4805** | **4753** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income before income taxes** | **180** | **189** | **167** | **159** | **194** | **215** | **134** | **536** | **543** |
| Income tax expense | 36 | 39 | 34 | 33 | 38 | 44 | 26 | 109 | 108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **144** | **150** | **133** | **126** | **156** | **171** | **108** | **427** | **435** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 8 | 15 | 4 | 15 | (1) | 9 | (1) | 27 | 7 |
| &nbsp;&nbsp;&nbsp;Income tax benefit [1] | (3) | (2) | (1) | (2) | (1) | (2) |  | (6) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings** | $**149** | $**163** | $**136** | $**139** | $**154** | $**178** | $**107** | $**448** | $**439** |
| **Margin** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income margin | 8.1% | 8.5% | 7.4% | 7.1% | 8.8% | 9.7% | 6.2% | 8.0% | 8.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Core earnings margin\* | 8.3% | 9.2% | 7.6% | 7.8% | 8.7% | 10.0% | 6.1% | 8.4% | 8.3% |
| **ROE** |  |  |  |  |  |  |  |  |  |
| **Net income available to common stockholders [2]** | **14.7%** | **16.1%** | **16.6%** | **15.5%** | **17.7%** | **18.0%** | **16.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income available to common stockholders to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 1.2% | 1.0% | 0.8% | 0.7% | 0.2% | 1.1% | 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax [3] | —% | —% | —% | —% | —% | 0.1% | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Income tax benefit [1] | (0.2%) | (0.2%) | (0.2%) | (0.1%) | (0.1%) | (0.3%) | (0.3%) |  |  |
| &nbsp;&nbsp;&nbsp;Impact of AOCI, excluded from core earnings ROE | (0.9%) | (1.6%) | (1.7%) | (1.7%) | (2.2%) | (2.5%) | (2.1%) |  |  |
| **Core earnings [2]** | **14.8%** | **15.3%** | **15.5%** | **14.4%** | **15.6%** | **16.4%** | **15.1%** |  |  |

---

[1]Represents federal income tax benefit related to before tax items not included in core earnings.

[2]Net income ROE and core earnings ROE are calculated by allocating a portion of debt, interest expense, preferred stock and preferred stock dividends accounted for within Corporate to Employee Benefits.

[3]Includes integration costs in connection with the 2017 acquisition of Aetna's group life and disability business.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Employee Benefits**

**Supplemental Data**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Premiums** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Fully insured ongoing premiums** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group disability | $835 | $838 | $844 | $845 | $835 | $837 | $836 | $2517 | $2508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group life | 648 | 644 | 650 | 651 | 658 | 663 | 645 | 1942 | 1966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other [1] | 120 | 120 | 118 | 104 | 107 | 107 | 104 | 358 | 318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total fully insured ongoing premiums** | **1603** | **1602** | **1612** | **1600** | **1600** | **1607** | **1585** | **4817** | **4792** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total buyouts [2] |  | 4 |  |  |  | 1 |  | 4 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total premiums** | $**1603** | $**1606** | $**1612** | $**1600** | $**1600** | $**1608** | $**1585** | $**4821** | $**4793** |
| **Sales (Gross Annualized New Premiums)** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Fully insured ongoing sales** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group disability | $53 | $48 | $162 | $37 | $53 | $37 | $247 | $263 | $337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group life | 33 | 44 | 163 | 23 | 32 | 51 | 154 | 240 | 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other [1] | 19 | 15 | 56 | 8 | 20 | 13 | 43 | 90 | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total fully insured ongoing sales** | **105** | **107** | **381** | **68** | **105** | **101** | **444** | **593** | **650** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total buyouts [2] |  | 4 |  |  |  | 1 |  | 4 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total sales** | $**105** | $**111** | $**381** | $**68** | $**105** | $**102** | $**444** | $**597** | $**651** |
| **Ratios, Excluding Buyouts** |  |  |  |  |  |  |  |  |  |
| Group disability loss ratio | 70.6% | 68.5% | 69.0% | 66.9% | 67.9% | 67.1% | 70.1% | 69.3% | 68.4% |
| Group life loss ratio | 74.2% | 74.3% | 79.9% | 79.9% | 77.5% | 74.9% | 82.6% | 76.1% | 78.3% |
| Total loss ratio | 70.1% | 69.1% | 71.9% | 70.6% | 70.2% | 68.9% | 73.5% | 70.4% | 70.8% |
| Expense ratio | 26.7% | 25.7% | 25.4% | 26.7% | 25.3% | 24.4% | 25.4% | 25.9% | 25.0% |

---

[1]Includes other group coverages such as retiree health insurance, critical illness, accident and hospital indemnity coverages.

[2]Takeover of open claim liabilities and other non-recurring premium amounts.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Hartford Funds**

**Income Statements**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Investment management fees | $216 | $198 | $202 | $208 | $202 | $195 | $191 | $616 | $588 |
| Shareowner servicing fees | 24 | 22 | 23 | 23 | 23 | 21 | 21 | 69 | 65 |
| Other revenue | 41 | 42 | 39 | 44 | 43 | 42 | 42 | 122 | 127 |
| Net realized gains (losses) | 5 | 9 |  | (3) | 7 | 3 | 5 | 14 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | **286** | **271** | **264** | **272** | **275** | **261** | **259** | **821** | **795** |
| Sub-advisory expense | 79 | 72 | 73 | 76 | 73 | 71 | 69 | 224 | 213 |
| Employee compensation and benefits | 33 | 31 | 39 | 33 | 31 | 32 | 35 | 103 | 98 |
| Distribution and service | 75 | 70 | 73 | 77 | 75 | 74 | 73 | 218 | 222 |
| General, administrative and other | 27 | 30 | 24 | 24 | 29 | 26 | 26 | 81 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total expenses** | **214** | **203** | **209** | **210** | **208** | **203** | **203** | **626** | **614** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Income before income taxes** | **72** | **68** | **55** | **62** | **67** | **58** | **56** | **195** | **181** |
| Income tax expense | 15 | 14 | 12 | 13 | 13 | 14 | 11 | 41 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **57** | **54** | **43** | **49** | **54** | **44** | **45** | **154** | **143** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | (5) | (9) |  | 3 | (7) | (3) | (5) | (14) | (15) |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) [1] | 1 | 1 | 1 | (1) |  | 2 | 1 | 3 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Core earnings** | $**53** | $**46** | $**44** | $**51** | $**47** | $**43** | $**41** | $**143** | $**131** |
| **Daily average Hartford Funds AUM** | $**148269** | $**138195** | $**141834** | $**142230** | $**137888** | $**134064** | $**131648** | $**142789** | $**134546** |
| **Return on assets (bps, net of tax) [2]** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | 15.4 | 15.6 | 12.1 | 13.8 | 15.7 | 13.1 | 13.7 | 14.4 | 14.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Core earnings\* | 14.3 | 13.3 | 12.4 | 14.3 | 13.6 | 12.8 | 12.5 | 13.4 | 13.0 |
| **ROE** |  |  |  |  |  |  |  |  |  |
| **Net income available to common stockholders [3]** | **41.8%** | **42.9%** | **42.2%** | **43.4%** | **44.1%** | **42.2%** | **43.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income available to common stockholders to core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | (2.3%) | (2.9%) | (1.6%) | (2.8%) | (5.5%) | (2.9%) | (2.5%) |  |  |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) [1] | 0.4% | 0.2% | 0.5% | 0.5% | 0.7% | 0.7% | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Impact of AOCI, excluded from core earnings ROE | (0.8%) | (1.1%) | (1.3%) | (1.4%) | (1.5%) | (1.6%) | (1.7%) |  |  |
| **Core earnings [3]** | **39.1%** | **39.1%** | **39.8%** | **39.7%** | **37.8%** | **38.4%** | **39.7%** |  |  |

---

[1]Represents federal income tax expense (benefit) related to before tax items not included in core earnings.

[2]Represents annualized earnings divided by daily average assets under management ("AUM"), as measured in basis points ("bps") which represents one hundredth of one percent.

[3]Net income ROE and core earnings ROE are calculated by allocating a portion of debt, interest expense, preferred stock and preferred stock dividends accounted for within Corporate to Hartford Funds.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Hartford Funds**

**Asset Value Rollforward**

**Assets Under Management By Asset Class**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Equity Funds** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Beginning balance** | $**89072** | $**82792** | $**84000** | $**87271** | $**83212** | $**83337** | $**79352** | $**84000** | $**79352** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales | 4644 | 3946 | 5295 | 3682 | 3364 | 3612 | 3428 | 13885 | 10404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemptions | (4792) | (5167) | (6434) | (4787) | (4298) | (4831) | (5488) | (16393) | (14617) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows | (148) | (1221) | (1139) | (1105) | (934) | (1219) | (2060) | (2508) | (4213) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in market value and other | 5530 | 7501 | (69) | (2166) | 4993 | 1094 | 6045 | 12962 | 12132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ending balance** | $**94454** | $**89072** | $**82792** | $**84000** | $**87271** | $**83212** | $**83337** | $**94454** | $**87271** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Fixed Income Funds** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Beginning balance** | $**21827** | $**21398** | $**21059** | $**19347** | $**17825** | $**17201** | $**16773** | $**21059** | $**16773** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales | 2129 | 2124 | 1978 | 3229 | 1905 | 1569 | 1822 | 6231 | 5296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemptions | (1609) | (2066) | (1970) | (1290) | (1150) | (1080) | (1497) | (5645) | (3727) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows | 520 | 58 | 8 | 1939 | 755 | 489 | 325 | 586 | 1569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in market value and other | 496 | 371 | 331 | (227) | 767 | 135 | 103 | 1198 | 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ending balance** | $**22843** | $**21827** | $**21398** | $**21059** | $**19347** | $**17825** | $**17201** | $**22843** | $**19347** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Multi-Strategy Investments Funds [1]** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Beginning balance** | $**18544** | $**18321** | $**18512** | $**19425** | $**18807** | $**19268** | $**19292** | $**18512** | $**19292** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales | 325 | 350 | 458 | 455 | 400 | 472 | 387 | 1133 | 1259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemptions | (821) | (731) | (905) | (834) | (902) | (930) | (954) | (2457) | (2786) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows | (496) | (381) | (447) | (379) | (502) | (458) | (567) | (1324) | (1527) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in market value and other | 584 | 604 | 256 | (534) | 1120 | (3) | 543 | 1444 | 1660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ending balance** | $**18632** | $**18544** | $**18321** | $**18512** | $**19425** | $**18807** | $**19268** | $**18632** | $**19425** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Exchange-Traded Funds ("ETF") AUM** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Beginning balance** | $**4847** | $**4708** | $**4483** | $**4323** | $**3842** | $**3753** | $**3899** | $**4483** | $**3899** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows | 99 | 29 | 146 | 341 | 256 | 103 | (209) | 274 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in market value and other | 122 | 110 | 79 | (181) | 225 | (14) | 63 | 311 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ending balance** | $**5068** | $**4847** | $**4708** | $**4483** | $**4323** | $**3842** | $**3753** | $**5068** | $**4323** |
| **Mutual Fund and ETF AUM** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Beginning balance** | $**134290** | $**127219** | $**128054** | $**130366** | $**123686** | $**123559** | $**119316** | $**128054** | $**119316** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales - mutual fund | 7098 | 6420 | 7731 | 7366 | 5669 | 5653 | 5637 | 21249 | 16959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemptions - mutual fund | (7222) | (7964) | (9309) | (6911) | (6350) | (6841) | (7939) | (24495) | (21130) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows - ETF | 99 | 29 | 146 | 341 | 256 | 103 | (209) | 274 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows - mutual fund and ETF | (25) | (1515) | (1432) | 796 | (425) | (1085) | (2511) | (2972) | (4021) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in market value and other | 6732 | 8586 | 597 | (3108) | 7105 | 1212 | 6754 | 15915 | 15071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ending balance** | **140997** | **134290** | **127219** | **128054** | **130366** | **123686** | **123559** | **140997** | **130366** |
| **Third-party life and annuity separate account AUM** | **11341** | **11226** | **10879** | **11544** | **12073** | **11832** | **12083** | **11341** | **12073** |
| **Hartford Funds AUM** | $**152338** | $**145516** | $**138098** | $**139598** | $**142439** | $**135518** | $**135642** | $**152338** | $**142439** |

---

[1]Includes balanced, allocation, and alternative investment products.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Corporate**

**Income Statements**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Fee income [1] | $10 | $10 | $11 | $10 | $10 | $10 | $10 | $31 | $30 |
| Other revenue | 6 | 5 | 1 |  | 1 | 1 |  | 12 | 2 |
| Net investment income | 14 | 14 | 14 | 16 | 17 | 14 | 16 | 42 | 47 |
| Net realized gains (losses) | 21 | 23 | (19) | 11 | 14 | 8 | 9 | 25 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | **51** | **52** | **7** | **37** | **42** | **33** | **35** | **110** | **110** |
| Benefits, losses and loss adjustment expenses [2] | 2 |  | 2 | 3 | 1 | 2 | 2 | 4 | 5 |
| Insurance operating costs and other expenses [1] | 13 | 14 | 14 | 17 | 12 | 11 | 14 | 41 | 37 |
| Interest expense | 50 | 50 | 50 | 50 | 49 | 50 | 50 | 150 | 149 |
| Restructuring and other costs |  |  |  |  | 1 |  | 1 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total expenses** | **65** | **64** | **66** | **70** | **63** | **63** | **67** | **195** | **193** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Loss before income taxes** | **(14)** | **(12)** | **(59)** | **(33)** | **(21)** | **(30)** | **(32)** | **(85)** | **(83)** |
| Income tax benefit | (32) | (3) | (18) | (5) | (9) | (13) | (17) | (53) | (39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income (loss)** | **18** | **(9)** | **(41)** | **(28)** | **(12)** | **(17)** | **(15)** | **(32)** | **(44)** |
| Preferred stock dividends | 6 | 5 | 5 | 5 | 6 | 5 | 5 | 16 | 16 |
| **Net income (loss) available to common stockholders** | **12** | **(14)** | **(46)** | **(33)** | **(18)** | **(22)** | **(20)** | **(48)** | **(60)** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income (loss) available to common stockholders to core loss:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | (21) | (24) | 19 | (8) | (13) | (10) | (9) | (26) | (32) |
| &nbsp;&nbsp;&nbsp;Restructuring and other costs, before tax |  |  |  |  | 1 |  | 1 |  | 2 |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) [3] | 4 | 5 | (4) | 2 | 4 |  | 3 | 5 | 7 |
| **Core loss** | $**(5)** | $**(33)** | $**(31)** | $**(39)** | $**(26)** | $**(32)** | $**(25)** | $**(69)** | $**(83)** |

---

[1]Includes investment management fees and expenses related to managing third-party assets.

[2]Includes benefits, losses and loss adjustment expenses for run-off structured settlement and terminal funding agreement liabilities.

[3]Represents federal income tax expense (benefit) related to before tax items not included in core earnings.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Investment Income Before Tax**

**Consolidated**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net Investment Income (Loss)** | | | | | | | | | |
| Fixed maturities [1] |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | $574 | $553 | $538 | $533 | $533 | $496 | $483 | $1665 | $1512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | 29 | 31 | 36 | 38 | 37 | 41 | 43 | 96 | 121 |
| Total fixed maturities | 603 | 584 | 574 | 571 | 570 | 537 | 526 | 1761 | 1633 |
| Equity securities | 4 | 5 | 4 | 15 | 5 | 6 | 9 | 13 | 20 |
| Mortgage loans | 76 | 72 | 70 | 70 | 68 | 65 | 63 | 218 | 196 |
| Limited partnerships and other alternative investments [2] | 91 | 13 | 39 | 79 | 37 | 16 | 16 | 143 | 69 |
| Other [3] | 8 | 13 | (3) | 6 | 1 | 1 | 6 | 18 | 8 |
| Subtotal | 782 | 687 | 684 | 741 | 681 | 625 | 620 | 2153 | 1926 |
| Investment expense | (23) | (23) | (28) | (27) | (22) | (23) | (27) | (74) | (72) |
| **Total net investment income** | $**759** | $**664** | $**656** | $**714** | $**659** | $**602** | $**593** | $**2079** | $**1854** |
| Annualized investment yield, before tax [4] | 4.8% | 4.3% | 4.3% | 4.7% | 4.4% | 4.1% | 4.1% | 4.5% | 4.2% |
| Annualized limited partnerships and other alternative investment yield, before tax [4] | 6.7% | 1.0% | 3.1% | 6.4% | 3.0% | 1.3% | 1.3% | 3.7% | 1.9% |
| Annualized investment yield, before tax, excluding limited partnership and other alternative investments [4]\* | 4.6% | 4.6% | 4.4% | 4.6% | 4.5% | 4.4% | 4.3% | 4.5% | 4.4% |
| Annualized investment yield, net of tax [4] | 3.9% | 3.5% | 3.4% | 3.8% | 3.5% | 3.3% | 3.3% | 3.6% | 3.4% |
| Annualized investment yield, net of tax, excluding limited partnership and other alternative investments [4]\* | 3.7% | 3.7% | 3.5% | 3.7% | 3.6% | 3.5% | 3.5% | 3.6% | 3.5% |
| Average reinvestment rate [5] | 5.7% | 5.9% | 5.6% | 5.7% | 5.5% | 6.4% | 6.1% | 5.7% | 6.0% |
| Average sales/maturities yield [6] | 5.2% | 4.6% | 4.9% | 5.4% | 4.4% | 4.9% | 5.0% | 4.9% | 4.7% |
| Portfolio duration (in years) [7] | 3.8 | 3.9 | 3.9 | 3.8 | 3.9 | 3.9 | 4.0 | 3.8 | 3.9 |

---

[1]Includes income on short-term investments.

[2]Within Property & Casualty, other alternative investments include an insurer-owned life insurance policy, which is primarily invested in private equity funds and fixed income.

[3]Includes changes in fair value of certain equity fund investments and income from derivatives that qualify for hedge accounting and are used to hedge fixed maturities.

[4]Represents annualized net investment income divided by the monthly average invested assets at amortized cost, as applicable, excluding derivatives book value.

[5]Represents the annualized yield on fixed maturities and mortgage loans that were purchased during the respective period. Excludes U.S. Treasury securities and cash equivalents.

[6]Represents the annualized yield on fixed maturities and mortgage loans that were sold, matured, or redeemed, including calls and paydowns, during the respective period. Excludes U.S. Treasury securities and cash equivalents.

[7]Excludes certain short-term investments.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Investment Income Before Tax**

**Property & Casualty**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net Investment Income (Loss)** | | | | | | | | | |
| Fixed maturities [1] |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | $458 | $440 | $426 | $421 | $420 | $389 | $373 | $1324 | $1182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | 23 | 24 | 27 | 29 | 28 | 29 | 32 | 74 | 89 |
| Total fixed maturities | 481 | 464 | 453 | 450 | 448 | 418 | 405 | 1398 | 1271 |
| Equity securities | 3 | 1 | 2 | 8 | 3 | 3 | 6 | 6 | 12 |
| Mortgage loans | 59 | 54 | 53 | 52 | 51 | 49 | 46 | 166 | 146 |
| Limited partnerships and other alternative investments [2] | 71 | 11 | 28 | 65 | 31 | 16 | 15 | 110 | 62 |
| Other [3] | 9 | 13 | (2) | 8 | 2 | 2 | 8 | 20 | 12 |
| Subtotal | 623 | 543 | 534 | 583 | 535 | 488 | 480 | 1700 | 1503 |
| Investment expense | (18) | (17) | (22) | (21) | (17) | (17) | (21) | (57) | (55) |
| **Total net investment income** | $**605** | $**526** | $**512** | $**562** | $**518** | $**471** | $**459** | $**1643** | $**1448** |
| Annualized investment yield, before tax [4] | 4.9% | 4.4% | 4.3% | 4.8% | 4.5% | 4.2% | 4.1% | 4.5% | 4.2% |
| Annualized limited partnerships and other alternative investment yield, before tax [4] | 6.8% | 1.1% | 2.8% | 6.7% | 3.2% | 1.6% | 1.6% | 3.6% | 2.2% |
| Annualized investment yield, before tax, excluding limited partnership and other alternative investments [4] | 4.7% | 4.7% | 4.4% | 4.6% | 4.6% | 4.4% | 4.3% | 4.6% | 4.4% |
| Annualized investment yield, net of tax [4] | 3.9% | 3.5% | 3.4% | 3.8% | 3.6% | 3.4% | 3.3% | 3.6% | 3.4% |
| Annualized investment yield, net of tax, excluding limited partnership and other alternative investments [4] | 3.8% | 3.7% | 3.5% | 3.7% | 3.7% | 3.5% | 3.5% | 3.7% | 3.6% |
| Average reinvestment rate [5] | 5.6% | 5.8% | 5.6% | 5.7% | 5.5% | 6.4% | 6.1% | 5.7% | 6.0% |
| Average sales/maturities yield [6] | 5.2% | 4.7% | 4.9% | 5.6% | 4.5% | 4.9% | 4.9% | 4.9% | 4.8% |
| Portfolio duration (in years) [7] | 3.7 | 3.8 | 3.7 | 3.7 | 3.7 | 3.8 | 3.8 | 3.7 | 3.7 |

---

Footnotes [1] through [7] are explained on page <u>[26](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_106)</u>.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Investment Income Before Tax**

**Employee Benefits**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net Investment Income (Loss)** | | | | | | | | | |
| Fixed maturities [1] |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | $100 | $98 | $97 | $96 | $94 | $92 | $93 | $295 | $279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | 5 | 6 | 7 | 8 | 7 | 10 | 10 | 18 | 27 |
| Total fixed maturities | 105 | 104 | 104 | 104 | 101 | 102 | 103 | 313 | 306 |
| Equity securities |  | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 3 |
| Mortgage loans | 17 | 18 | 17 | 18 | 17 | 16 | 17 | 52 | 50 |
| Limited partnerships and other alternative investments [2] | 20 | 2 | 11 | 14 | 6 |  | 1 | 33 | 7 |
| Other [3] | (1) | (1) | (1) | (2) | (1) | (1) | (2) | (3) | (4) |
| Subtotal | 141 | 124 | 132 | 136 | 124 | 118 | 120 | 397 | 362 |
| Investment expense | (5) | (6) | (6) | (6) | (5) | (6) | (6) | (17) | (17) |
| **Total net investment income** | $**136** | $**118** | $**126** | $**130** | $**119** | $**112** | $**114** | $**380** | $**345** |
| Annualized investment yield, before tax [4] | 4.8% | 4.1% | 4.3% | 4.5% | 4.1% | 3.9% | 3.9% | 4.4% | 3.9% |
| Annualized limited partnerships and other alternative investment yield, before tax [4] | 7.1% | 0.8% | 4.1% | 5.2% | 2.3% | —% | 0.4% | 4.0% | 0.9% |
| Annualized investment yield, before tax, excluding limited partnership and other alternative investments [4] | 4.5% | 4.4% | 4.4% | 4.4% | 4.3% | 4.3% | 4.2% | 4.4% | 4.2% |
| Annualized investment yield, net of tax [4] | 3.8% | 3.3% | 3.5% | 3.6% | 3.3% | 3.1% | 3.1% | 3.5% | 3.2% |
| Annualized investment yield, net of tax, excluding limited partnership and other alternative investments [4] | 3.6% | 3.5% | 3.5% | 3.5% | 3.4% | 3.4% | 3.4% | 3.5% | 3.4% |
| Average reinvestment rate [5] | 5.9% | 6.1% | 5.8% | 5.8% | 5.9% | 6.6% | 6.4% | 6.0% | 6.3% |
| Average sales/maturities yield [6] | 5.1% | 4.3% | 4.7% | 4.8% | 4.3% | 4.8% | 5.2% | 4.7% | 4.7% |
| Portfolio duration (in years) [7] | 4.9 | 5.0 | 5.0 | 4.9 | 5.0 | 4.9 | 5.1 | 4.9 | 5.0 |

---

Footnotes [1] through [7] are explained on page <u>[26](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_106)</u>.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Net Investment Income** 

**Consolidated**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| **Net Investment Income by Segment** | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Business Insurance | $519 | $449 | $437 | $479 | $442 | $402 | $391 | $1405 | $1235 |
| &nbsp;&nbsp;&nbsp;&nbsp;Personal Insurance | 67 | 58 | 57 | 64 | 58 | 50 | 50 | 182 | 158 |
| &nbsp;&nbsp;&nbsp;&nbsp;P&C Other Operations | 19 | 19 | 18 | 19 | 18 | 19 | 18 | 56 | 55 |
| &nbsp;&nbsp;&nbsp;**Total Property & Casualty** | **605** | **526** | **512** | **562** | **518** | **471** | **459** | **1643** | **1448** |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee Benefits | 136 | 118 | 126 | 130 | 119 | 112 | 114 | 380 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hartford Funds | 4 | 6 | 4 | 6 | 5 | 5 | 4 | 14 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | 14 | 14 | 14 | 16 | 17 | 14 | 16 | 42 | 47 |
| **Total net investment income by segment** | $**759** | $**664** | $**656** | $**714** | $**659** | $**602** | $**593** | $**2079** | $**1854** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| **Net Investment Income from Limited Partnerships and Other Alternative Investments** | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| &nbsp;&nbsp;&nbsp;Total Property & Casualty | $71 | $11 | $28 | $65 | $31 | $16 | $15 | $110 | $62 |
| &nbsp;&nbsp;&nbsp;Employee Benefits | 20 | 2 | 11 | 14 | 6 |  | 1 | 33 | 7 |
| **Total net investment income from limited partnerships and other alternative investments [1]** | $**91** | $**13** | $**39** | $**79** | $**37** | $**16** | $**16** | $**143** | $**69** |

---

[1]Amounts are included above in total net investment income by segment.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Components of Net Realized Gains (Losses)**

**Consolidated**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net Realized Gains (Losses)** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Gross gains on sales of fixed maturities | $17 | $19 | $13 | $8 | $12 | $6 | $5 | $49 | $23 |
| &nbsp;&nbsp;&nbsp;Gross losses on sales of fixed maturities | (38) | (45) | (25) | (50) | (62) | (75) | (11) | (108) | (148) |
| &nbsp;&nbsp;&nbsp;Equity securities [1] | 27 | 36 | (11) | (3) | 27 | 14 | 35 | 52 | 76 |
| &nbsp;&nbsp;&nbsp;Net credit losses on fixed maturities, AFS |  |  | 2 |  |  | (1) | (1) | 2 | (2) |
| &nbsp;&nbsp;&nbsp;Change in ACL on mortgage loans | (6) |  |  |  |  |  | 3 | (6) | 3 |
| &nbsp;&nbsp;&nbsp;Other net gains (losses) [2] | (12) | (20) | (28) | 28 | 10 | (3) | (3) | (60) | 4 |
| **Total net realized gains (losses)** | **(12)** | **(10)** | **(49)** | **(17)** | **(13)** | **(59)** | **28** | **(71)** | **(44)** |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), included in core earnings, before tax [3] | 2 |  | 2 | 1 | 1 | 1 | 2 | 4 | 4 |
| **Total net gains (losses) excluded from core earnings, before tax** | **(10)** | **(10)** | **(47)** | **(16)** | **(12)** | **(58)** | **30** | **(67)** | **(40)** |
| &nbsp;&nbsp;&nbsp;Income tax benefit (expense) related to net realized gains (losses) excluded from core earnings | 2 | 1 | 10 | 3 | 4 | 12 | (7) | 13 | 9 |
| **Total net realized gains (losses) excluded from core earnings, after tax** | $**(8)** | $**(9)** | $**(37)** | $**(13)** | $**(8)** | $**(46)** | $**23** | $**(54)** | $**(31)** |

---

[1]Includes all changes in fair value and trading gains and losses for equity securities.

[2]Includes changes in value of fair value option securities and non-qualifying derivatives, including credit derivatives, interest rate derivatives used to manage duration, and equity derivatives. Also includes periodic net coupon settlements on credit derivatives, which are included in core earnings, as well as transactional foreign currency revaluation.

[3]Represents net periodic settlements on credit derivatives.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Composition of Invested Assets**

**Consolidated**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sept 30 2025** | **Sept 30 2025** | **Jun 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Mar 31 2025** | **Dec 31 2024** | **Dec 31 2024** | **Sept 30 2024** | **Sept 30 2024** |
| | **Amount [1]** | **Percent** | **Amount** | **Percent** | **Amount** | **Percent** | **Amount [1]** | **Percent** | **Amount** | **Percent** |
|<br>**Total investments** | $**62568** | **100.0%** | $**60903** | **100.0%** | $**60094** | **100.0%** | $**59210** | **100.0%** | $**59350** | **100.0%** |
| Asset-backed securities | $4506 | 10.0% | $4376 | 9.8% | $4333 | 9.8% | $3937 | 9.3% | $3512 | 8.2% |
| Collateralized loan obligations | 3379 | 7.5% | 3393 | 7.6% | 3396 | 7.7% | 3250 | 7.6% | 3563 | 8.3% |
| Commercial mortgage-backed securities | 2498 | 5.5% | 2585 | 5.8% | 2754 | 6.2% | 2736 | 6.4% | 2857 | 6.7% |
| Corporate | 23079 | 51.0% | 22525 | 50.6% | 21646 | 49.0% | 20636 | 48.5% | 20558 | 48.0% |
| Foreign government/government agencies | 409 | 0.9% | 455 | 1.0% | 481 | 1.1% | 480 | 1.1% | 541 | 1.3% |
| Municipal | 4481 | 9.9% | 4650 | 10.4% | 5030 | 11.4% | 5304 | 12.5% | 5654 | 13.2% |
| Residential mortgage-backed securities | 5778 | 12.8% | 5513 | 12.4% | 5558 | 12.5% | 5230 | 12.3% | 5123 | 12.0% |
| U.S. Treasuries | 1073 | 2.4% | 1061 | 2.4% | 1006 | 2.3% | 994 | 2.3% | 985 | 2.3% |
| **Total fixed maturities, AFS [2]** | $**45203** | **100.0%** | $**44558** | **100.0%** | $**44204** | **100.0%** | $**42567** | **100.0%** | $**42793** | **100.0%** |
| U.S. government/government agencies | $5277 | 11.7% | $5130 | 11.5% | $5126 | 11.6% | $4937 | 11.6% | $4815 | 11.2% |
| AAA | 7482 | 16.6% | 7333 | 16.4% | 7573 | 17.2% | 7166 | 16.8% | 7127 | 16.7% |
| AA | 7313 | 16.2% | 7439 | 16.7% | 7423 | 16.8% | 7484 | 17.6% | 7713 | 18.0% |
| A | 12628 | 27.9% | 12239 | 27.5% | 11639 | 26.3% | 10933 | 25.7% | 10994 | 25.7% |
| BBB | 10179 | 22.5% | 10070 | 22.6% | 10125 | 22.9% | 9722 | 22.8% | 9677 | 22.6% |
| BB | 1778 | 3.9% | 1726 | 3.9% | 1775 | 4.0% | 1777 | 4.2% | 1768 | 4.2% |
| B | 534 | 1.2% | 609 | 1.4% | 529 | 1.2% | 542 | 1.3% | 693 | 1.6% |
| CCC | 12 | —% | 12 | —% | 13 | —% | 5 | —% | 5 | —% |
| CC & below |  | —% |  | —% | 1 | —% | 1 | —% | 1 | —% |
| **Total fixed maturities, AFS [2]** | $**45203** | **100.0%** | $**44558** | **100.0%** | $**44204** | **100.0%** | $**42567** | **100.0%** | $**42793** | **100.0%** |

---

[1]Amount represents the value at which the assets are presented in the Consolidating Balance Sheets (page <u>[4](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_25)</u>).

[2]Fixed maturities, at fair value using the fair value option are not included.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Invested Asset Exposures**

**September 30, 2025**

---

| | | | |
|:---|:---|:---|:---|
| | **Cost or<br>Amortized Cost** | **Fair Value** | **Percent of Total<br>Invested Assets** |
| **Top Ten Corporate Fixed Maturity, AFS and Equity Exposures by Sector** | | | |
| Financial services | $7268 | $7220 | 11.5% |
| Technology and communications | 3222 | 3195 | 5.1% |
| Consumer non-cyclical | 2826 | 2801 | 4.5% |
| Utilities | 2768 | 2695 | 4.3% |
| Capital goods | 1757 | 1770 | 2.8% |
| Consumer cyclical | 1687 | 1685 | 2.7% |
| Energy | 1524 | 1517 | 2.4% |
| Basic industry | 1166 | 1165 | 1.9% |
| Transportation | 871 | 848 | 1.4% |
| Other | 757 | 753 | 1.2% |
| **Total** | $**23846** | $**23649** | **37.8%** |
| **Top Ten Exposures by Issuer [1]** |  |  |  |
| Morgan Stanley | $239 | $237 | 0.4% |
| Hyundai Motor Company | 202 | 197 | 0.3% |
| Entergy Corporation | 198 | 190 | 0.3% |
| SPCC Funding I LLC | 183 | 185 | 0.3% |
| Government of Canada | 181 | 183 | 0.3% |
| Goldman Sachs Group Inc. | 187 | 179 | 0.3% |
| Bank of America Corporation | 180 | 179 | 0.3% |
| NextEra Energy Inc. | 181 | 176 | 0.3% |
| The Toronto-Dominion Bank | 180 | 173 | 0.3% |
| Duke Energy Corporation | 166 | 170 | 0.2% |
| **Total** | $**1897** | $**1869** | **3.0%** |

---

[1]Includes corporate bonds, municipal bonds, bonds issued by foreign government/government agencies, and equity securities excluding mutual funds.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**The Hartford Insurance Group, Inc.**

**Appendix**

**Basis of Presentation and Definitions** 

All amounts are in millions, except for per share and ratio information, unless otherwise stated. Amounts presented throughout this document have been rounded for presentation purposes.

The Hartford Insurance Group, Inc. (the "Company", "we", or "our") currently conducts business principally in five reportable segments: Business Insurance, Personal Insurance, Property & Casualty Other Operations ("P&C Other Operations"), Employee Benefits and Hartford Funds, as well as a Corporate category.

Property & Casualty ("P&C") businesses consist of three reportable segments: Business Insurance, Personal Insurance and P&C Other Operations. Business Insurance provides workers' compensation, property, automobile, general liability, umbrella, package business, professional liability, bond, marine, livestock, accident and health, assumed reinsurance, and other product lines to businesses in the United States ("U.S.") and internationally. Business Insurance generally consists of products written for small businesses, middle market companies as well as national and multi-national accounts, largely distributed through retail agents and brokers, wholesale agents and global and specialty insurance and reinsurance brokers. Global specialty provides a variety of customized insurance products, including reinsurance. Personal Insurance provides standard automobile, homeowners and personal umbrella coverages to individuals across the U.S., including a special program designed exclusively for members of AARP. P&C Other Operations includes certain property and casualty operations, managed by the Company, that have discontinued writing new business and includes substantially all of the Company's asbestos and environmental exposures.

Employee Benefits provides employers and associations with group life, accident and disability coverage, along with other products and services, including voluntary benefits, and group retiree health.

Hartford Funds offers investment products for retail and retirement accounts and provides investment management, distribution and administrative services such as product design, implementation and oversight. This business also manages a portion of the mutual funds which support third-party life and annuity separate accounts.

The Company includes in the Corporate category reserves for run-off structured settlement and terminal funding agreement liabilities, restructuring costs, capital raising activities (including equity financing, debt financing and related interest expense), transaction expenses incurred in connection with an acquisition, certain M&A costs, purchase accounting adjustments related to goodwill, and other expenses not allocated to the reportable segments. Corporate also includes investment management fees and expenses related to managing third-party assets.

Certain operating and statistical measures for P&C Business Insurance and Personal Insurance have been incorporated herein to provide supplemental data that indicates current trends in the Company's business. These measures include net new business premium, gross new business premium, renewal written price increases, policy count retention, effective policy count retention, premium retention, and policies in-force.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net new business premium represents the amount of premiums charged, after ceded reinsurance, for policies issued to customers who were not insured with the Company in the previous policy term. Net new business premium plus renewal written premium equals total written premium.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gross new business premium represents the amount of premiums charged, before ceded reinsurance, for policies issued to customers who were not insured with the Company in the previous policy term. Gross new business premium plus gross renewal written premium less ceded reinsurance equals total written premium. For global specialty, gross new business premium is used by management, as it is thought to be more indicative of new business growth trends, in part because global specialty includes the Global Re assumed reinsurance book of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Renewal written price increases for Business Insurance represents the combined effect of rate changes and individual risk pricing decisions per unit of exposure since the prior year on policies that renewed and includes amount of insurance, which is a component of change in exposure and offsets increases in loss cost trends due to inflation. For Personal Insurance, renewal written price increases represents the total change in premium per policy since the prior year on those policies that renewed and includes the combined effect of rate changes, amount of insurance and other changes in exposure. For Personal Insurance, other changes in exposure include, but are not limited to, the effect of changes in number of drivers, vehicles and incidents, as well as changes in customer policy elections, such as deductibles and limits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For small business, policy count retention represents the number of renewal policies issued during the current year period divided by the new and renewal policies issued in the prior period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Personal Insurance, effective policy count retention represents the number of policies expected to renew in the current year period, based on contract effective dates, divided by the new and renewal policies effective in the prior period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Premium retention for middle & large business, represents the ratio of prior period premiums that were successfully renewed divided by premiums associated with policies available for renewal in the current period. Premium retention excludes premium amounts from annual audits, renewal written price increases and changes in exposure, including amount of insurance. Premium Retention statistics are subject to change from period to period based on a number of factors, including the effect of subsequent cancellations and non-renewals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Policies in-force represents the number of policies with coverage in effect as of the end of the period. The number of policies in-force is a growth measure used for Personal Insurance as well as small business within Business Insurance and is affected by both new business growth and policy count retention.

The Company, along with others in the property and casualty insurance industry, uses underwriting ratios as measures of performance. The loss and loss adjustment expense ratio is the ratio of losses and loss adjustment expenses to earned premiums. The expense ratio is the ratio of underwriting expenses less fee income to earned premiums. Underwriting expenses included in the expense ratio consist of amortization of deferred policy acquisition costs and insurance operating costs and expenses, including certain centralized services and bad debt expense, but excluding integration and other non-recurring M&A costs. The policyholder dividend ratio is the ratio of policyholder dividends to earned premiums. The combined ratio is the sum of the loss and loss adjustment expense ratio, the expense ratio and the policyholder dividend ratio. These ratios are relative measurements that describe the related cost of losses, expenses and policyholder dividends for every $100 of earned premiums. A combined ratio below 100 demonstrates underwriting profit; a combined ratio above 100 demonstrates underwriting losses. The current accident year catastrophe ratio (a component of the loss and loss adjustment expense ratio) represents the ratio of catastrophe losses and loss adjustment expenses incurred in the current accident year to earned premiums. The prior accident year loss and loss adjustment expense ratio (a component of the loss and loss adjustment expense ratio) represents the increase (decrease) in the estimated cost of settling catastrophe and non-catastrophe claims incurred in prior accident years as recorded in the current calendar year divided by earned premiums.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

A catastrophe is a severe loss, resulting from natural or man-made events, including risks such as fire, earthquake, windstorm, explosion, terrorist attack, civil unrest and similar events. Each catastrophe has unique characteristics and the events are unpredictable as to timing or loss amount. Catastrophe losses are not included in either earnings or in losses and loss adjustment expense reserves prior to occurrence of the catastrophe event. The Company believes that a discussion of the effect of catastrophes is meaningful for investors to understand the variability of periodic earnings. For U.S. events, a catastrophe is an event that causes $25 or more in industry insured property losses and affects a significant number of property and casualty policyholders and insurers, as defined by the Property Claim Service office of Verisk. For international events, the Company's approach is similar, informed, in part, by how Lloyd's of London defines major losses.

The Company, along with others in the insurance industry, use loss and expense ratios as measures of the Employee Benefits segment's performance. The loss ratio is the ratio of benefits, losses and loss adjustment expenses, excluding those related to buyout premiums, to premiums and other considerations, excluding buyout premiums. The expense ratio is the ratio of insurance operating costs and other expenses (excluding integration and other non-recurring M&A costs) to premiums and other considerations, excluding buyout premiums. Buyout premiums represent takeover of open claim liabilities and other non-recurring premium amounts.

The Hartford Funds segment provides supplemental data on sales, redemptions, net flows and account value that indicate current trends in that segment.

**Discussion of Non-GAAP Financial Measures**

The Company uses non-GAAP financial measures in this Investor Financial Supplement to assist investors in analyzing the Company's operating performance. Because the Company's calculation of these measures may differ from similar measures used by other companies, investors should be careful when comparing the Company's non-GAAP financial measures to those of other companies. Non-GAAP measures are indicated with an asterisk the first time they appear in this document.

**<u>Core earnings</u>-** The Hartford uses the non-GAAP measure core earnings as an important measure of the Company's operating performance. The Hartford believes that core earnings provides investors with a valuable measure of the performance of the Company's ongoing businesses because it reveals trends in our insurance and financial services businesses that may be obscured by including the net effect of certain items. Therefore, the following items are excluded from core earnings:

• Certain realized gains and losses - Generally realized gains and losses are primarily driven by investment decisions and external economic developments, the nature and timing of which are unrelated to the insurance and underwriting aspects of our business. Accordingly, core earnings excludes the effect of all realized gains and losses that tend to be highly variable from period to period based on capital market conditions. The Hartford believes, however, that some realized gains and losses are integrally related to our insurance operations, so core earnings includes net realized gains and losses such as net periodic settlements on credit derivatives. These net realized gains and losses are directly related to an offsetting item included in the income statement such as net investment income.

• Restructuring and other costs - Costs incurred as part of a restructuring plan are not a recurring operating expense of the business.

• Loss on extinguishment of debt - Largely consisting of make-whole payments or tender premiums upon paying debt off before maturity, these losses are not a recurring operating expense of the business.

• Gains and losses on reinsurance transactions - Gains or losses on reinsurance, such as those entered into upon sale of a business or to reinsure loss reserves, are not a recurring operating expense of the business.

• Integration and other non-recurring M&A costs - These costs, including transaction costs incurred in connection with an acquired business, are incurred over a short period of time and do not represent an ongoing operating expense of the business.

• Change in loss reserves upon acquisition of a business - These changes in loss reserves are excluded from core earnings because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition.

• Deferred gain resulting from retroactive reinsurance and subsequent changes in the deferred gain - Retroactive reinsurance agreements economically transfer risk to the reinsurers and excluding the deferred gain on retroactive reinsurance and related amortization of the deferred gain from core earnings provides greater insight into the economics of the business.

• Change in valuation allowance on deferred taxes related to non-core components of before tax income - These changes in valuation allowances are excluded from core earnings because they relate to non-core components of before tax income, such as tax attributes like capital loss carryforwards.

• Results of discontinued operations - These results are excluded from core earnings for businesses sold or held for sale because such results could obscure the ability to compare period over period results for our ongoing businesses.

In addition to the above components of net income available to common stockholders that are excluded from core earnings, preferred stock dividends declared, which are excluded from net income, are included in the determination of core earnings. Preferred stock dividends are a cost of financing more akin to interest expense on debt and are expected to be a recurring expense as long as the preferred stock is outstanding.

Net income (loss) and net income (loss) available to common stockholders are the most directly comparable U.S. GAAP measures to core earnings. Core earnings should not be considered as a substitute for net income (loss) or net income (loss) available to common stockholders and does not reflect the overall profitability of the Company's business. Therefore, The Hartford believes that it is useful for investors to evaluate net income (loss), net income (loss) available to common stockholders, and core earnings when reviewing the Company's performance. A reconciliation of net income (loss) available to common stockholders to core earnings is set forth on page <u>[2](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_19)</u>.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**<u>Core earnings per share</u>**- This is a non-GAAP per share measure calculated using the non-GAAP financial measure core earnings rather than the U.S GAAP measure net income. The Company believes that core earnings per share provides investors with a valuable measure of the Company's operating performance for the same reasons applicable to its underlying measure, core earnings. Net income (loss) available to common stockholders per share is the most directly comparable U.S. GAAP measure. Core earnings per share should not be considered as a substitute for net income (loss) available to common stockholders per share and does not reflect the overall profitability of the Company's business. Therefore, the Company believes that it is useful for investors to evaluate net income (loss) available to common stockholders per share and core earnings per share when reviewing our performance. A reconciliation of net income (loss) available to common stockholders per share to core earnings per share is set forth below.

**Basic Earnings Per Share**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net Income available to common stockholders per share** | $**3.82** | $**3.49** | $**2.18** | $**2.93** | $**2.60** | $**2.48** | $**2.51** | $**9.48** | $**7.59** |
| &nbsp;&nbsp;&nbsp;**Adjustments made to reconcile net income available to common stockholders per share to core earnings per share:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 0.04 | 0.04 | 0.16 | 0.06 | 0.04 | 0.20 | (0.10) | 0.24 | 0.14 |
| &nbsp;&nbsp;&nbsp;Restructuring and other costs, before tax |  |  |  |  |  |  |  |  | 0.01 |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax | (0.03) | (0.08) | (0.11) | 0.01 | (0.09) | (0.13) | (0.08) | (0.23) | (0.29) |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) on items excluded from core earnings | (0.01) |  | (0.01) | (0.02) | 0.01 | (0.02) | 0.04 |  | 0.01 |
| **Core earnings per share** | $**3.83** | $**3.46** | $**2.23** | $**2.99** | $**2.57** | $**2.54** | $**2.38** | $**9.51** | $**7.48** |

---

**<u>Core earnings per diluted share</u>**-This non-GAAP per share measure is calculated using the non-GAAP financial measure core earnings rather than the U.S. GAAP measure net income. The Company believes that core earnings per diluted share provides investors with a valuable measure of the Company's operating performance for the same reasons applicable to its underlying measure, core earnings. Net income (loss) available to common stockholders per diluted common share is the most directly comparable U.S. GAAP measure. Core earnings per diluted share should not be considered as a substitute for net income (loss) available to common stockholders per diluted common share and does not reflect the overall profitability of the Company's business. Therefore, the Company believes that it is useful for investors to evaluate net income (loss) available to common stockholders per diluted common share and core earnings per diluted share when reviewing the Company's performance. A reconciliation of net income available to common stockholders per diluted share to core earnings per diluted share is set forth below.

**Diluted Earnings Per Share**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net Income available to common stockholders per diluted share** | $**3.77** | $**3.44** | $**2.15** | $**2.88** | $**2.56** | $**2.44** | $**2.47** | $**9.34** | $**7.47** |
| &nbsp;&nbsp;&nbsp;**Adjustments made to reconcile net income available to common stockholders per diluted share to core earnings per diluted share:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 0.04 | 0.03 | 0.16 | 0.05 | 0.04 | 0.19 | (0.10) | 0.23 | 0.13 |
| &nbsp;&nbsp;&nbsp;Restructuring and other costs, before tax |  |  |  |  |  |  |  |  | 0.01 |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax | (0.03) | (0.08) | (0.11) | 0.01 | (0.09) | (0.12) | (0.08) | (0.22) | (0.29) |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) on items excluded from core earnings | (0.01) | 0.01 | (0.01) | (0.01) | 0.01 | (0.02) | 0.04 |  | 0.03 |
| **Core earnings per diluted share** | $**3.78** | $**3.41** | $**2.20** | $**2.94** | $**2.53** | $**2.50** | $**2.34** | $**9.37** | $**7.37** |

---

**<u>Book</u> <u>value per diluted share (excluding AOCI)</u>**-This is a non-GAAP per share measure that is calculated by dividing (a) common stockholders' equity, excluding AOCI, after tax, by (b) common shares outstanding and dilutive potential common shares. The Company provides this measure to enable investors to analyze the amount of the Company's net worth that is primarily attributable to the Company's business operations. The Company believes that excluding AOCI from the numerator is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates. Book value per diluted share is the most directly comparable U.S. GAAP measure. Reconciliations of book value per common share and book value per diluted share to book value per common share, excluding AOCI and book value per diluted share, excluding AOCI, are set forth on page <u>[1](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_13)</u>.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**<u>Core Earnings Return on Equity</u>**- The Company provides different measures of the return on stockholders' equity (ROE). Core earnings ROE is calculated based on non-GAAP financial measures. Core earnings ROE is calculated by dividing (a) the non-GAAP measure core earnings for the prior four fiscal quarters by (b) the non-GAAP measure average common stockholders' equity, excluding AOCI. Net income ROE is the most directly comparable U.S. GAAP measure. The Company excludes AOCI in the calculation of core earnings ROE to provide investors with a measure of how effectively the Company is investing the portion of the Company's net worth that is primarily attributable to the Company's business operations. The Company provides to investors return on equity measures based on its non-GAAP core earnings financial measure for the reasons set forth in the core earnings definition. A reconciliation of Net income (loss) ROE to Core earnings ROE is set forth below:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Last Twelve Months Ended** | **Last Twelve Months Ended** | **Last Twelve Months Ended** | **Last Twelve Months Ended** | **Last Twelve Months Ended** | **Last Twelve Months Ended** | **Last Twelve Months Ended** |
|  | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** |
| **Net income ROE** | **20.3%** | **19.8%** | **18.8%** | **19.9%** | **20.0%** | **19.8%** | **18.5%** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income (loss) ROE to core earnings ROE:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), excluded from core earnings, before tax | 0.5% | 0.5% | 0.8% | 0.4% | 0.4% | 0.8% | 0.8% |
| &nbsp;&nbsp;&nbsp;Integration and other non-recurring M&A costs, before tax | —% | —% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| &nbsp;&nbsp;&nbsp;Change in deferred gain on retroactive reinsurance, before tax | (0.3%) | (0.5%) | (0.6%) | (0.5%) | 0.7% | 0.9% | 1.2% |
| &nbsp;&nbsp;&nbsp;Income tax benefit on items not included in core earnings | —% | —% | (0.1%) | —% | (0.2%) | (0.4%) | (0.4%) |
| &nbsp;&nbsp;&nbsp;Impact of AOCI, excluded from denominator of core earnings ROE | (2.1%) | (2.8%) | (2.8%) | (3.2%) | (3.6%) | (3.8%) | (3.6%) |
| **Core earnings ROE** | **18.4%** | **17.0%** | **16.2%** | **16.7%** | **17.4%** | **17.4%** | **16.6%** |

---

**<u>Common stockholders' equity, excluding AOCI</u>**- This non-GAAP measure is calculated as total stockholders' equity less preferred stock and AOCI. Total stockholders' equity is the most directly comparable U.S. GAAP measure. The Company provides this measure to enable investors to analyze the amount of the Company's net worth that is primarily attributable to the Company's business operations. The Company believes that excluding AOCI is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates. A reconciliation of common stockholders' equity, excluding AOCI to its most directly comparable U.S. GAAP measure, total stockholders' equity, is set forth on page <u>[5](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_28)</u>.

**<u>Total capitalization, excluding AOCI, net of tax</u>**- This non-GAAP measure is calculated as total debt plus total stockholders' equity, excluding the impacts of AOCI included in stockholders' equity. Total capitalization, including AOCI, net of tax is the most directly comparable U.S. GAAP measure. Total debt to capitalization ratio excluding, AOCI is calculated by dividing total debt to total capitalization excluding, AOCI, net of tax. The Company provides this measure to enable investors to analyze the Company's financial leverage. The Company believes that excluding AOCI is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates. Reconciliations of capitalization metrics, are set forth on page <u>[5](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_28)</u>.

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**<u>Underwriting gain (loss)</u>**-This non-GAAP financial measure is a before tax measure that represents earned premiums less incurred losses, loss adjustment expenses and underwriting expenses. Net income (loss) is the most directly comparable U.S. GAAP measure. The Hartford's management evaluates profitability of the Business and Personal Insurance segments primarily on the basis of underwriting gain or loss. Underwriting gain (loss) is influenced significantly by earned premium growth and the adequacy of The Hartford's pricing. Underwriting profitability over time is also greatly influenced by The Hartford's underwriting discipline, as management strives to manage exposure to loss through favorable risk selection and diversification, effective management of claims, use of reinsurance and its ability to manage its expenses. The Hartford believes that underwriting gain (loss) provides investors with a valuable measure of profitability, before tax, derived from underwriting activities, which are managed separately from the Company's investing activities. Reconciliations of net income (loss) to underwriting gain (loss) for the Company's P&C businesses are set forth below.

**<u>Underlying underwriting gain (loss)</u>**- This non-GAAP measure of underwriting profitability represents underwriting gain (loss) before current accident year catastrophes, PYD and current accident year change in loss reserves upon acquisition of a business. The most directly comparable U.S GAAP measure is net income (loss). The Company believes underlying underwriting gain (loss) is important to understand the Company's periodic earnings because the volatile and unpredictable nature (i.e., the timing and amount) of catastrophes and prior accident year reserve development could obscure underwriting trends. The changes to loss reserves upon acquisition of a business are also excluded from underlying underwriting gain (loss) because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition as such trends are valuable to our investors' ability to assess the Company's financial performance. Reconciliation of net income (loss) to underlying underwriting gain (loss) for the Company's P&C businesses are set forth below.

**Property & Casualty**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net income** | $**861** | $**800** | $**495** | $**706** | $**569** | $**540** | $**615** | $**2156** | $**1724** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to underlying underwriting gain:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (605) | (526) | (512) | (562) | (518) | (471) | (459) | (1643) | (1448) |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains) | 30 | 26 | 26 | 9 | 34 | 61 | (13) | 82 | 82 |
| &nbsp;&nbsp;&nbsp;Net servicing and other (income) expense | (3) | (4) | (4) | (2) |  | (5) | (2) | (11) | (7) |
| &nbsp;&nbsp;&nbsp;Income tax expense | 219 | 201 | 125 | 180 | 143 | 129 | 138 | 545 | 410 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Underwriting gain** | **502** | **497** | **130** | **331** | **228** | **254** | **279** | **1129** | **761** |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | 70 | 212 | 467 | 80 | 247 | 280 | 161 | 749 | 688 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | (103) | (187) | (122) | 101 | (50) | (115) | (56) | (412) | (221) |
| **Underlying underwriting gain** | $**469** | $**522** | $**475** | $**512** | $**425** | $**419** | $**384** | $**1466** | $**1228** |

---

**Business Insurance**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net income** | $**710** | $**696** | $**477** | $**708** | $**528** | $**540** | $**573** | $**1883** | $**1641** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income to underlying underwriting gain:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (519) | (449) | (437) | (479) | (442) | (402) | (391) | (1405) | (1235) |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains) | 26 | 20 | 24 | 3 | 32 | 50 | (12) | 70 | 70 |
| &nbsp;&nbsp;&nbsp;Other expense (income) |  | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 4 |
| &nbsp;&nbsp;&nbsp;Income tax expense | 180 | 176 | 122 | 183 | 134 | 130 | 129 | 478 | 393 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Underwriting gain** | **397** | **444** | **187** | **416** | **253** | **319** | **301** | **1028** | **873** |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | 39 | 114 | 280 | 67 | 155 | 155 | 109 | 433 | 419 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | (60) | (146) | (83) | (58) | (36) | (81) | (56) | (289) | (173) |
| **Underlying underwriting gain** | $**376** | $**412** | $**384** | $**425** | $**372** | $**393** | $**354** | $**1172** | $**1119** |

---

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**Personal Insurance**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net income (loss)** | $**139** | $**91** | $**5** | $**154** | $**31** | $**(11)** | $**34** | $**235** | $**54** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income (loss) to underlying underwriting gain (loss):** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (67) | (58) | (57) | (64) | (58) | (50) | (50) | (182) | (158) |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains) | 4 | 4 | 2 | 5 | 2 | 8 | (1) | 10 | 9 |
| &nbsp;&nbsp;&nbsp;Net servicing and other (income) expense | (4) | (5) | (5) | (3) | (5) | (6) | (4) | (14) | (15) |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) | 35 | 23 |  | 37 | 8 | (4) | 8 | 58 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Underwriting gain (loss)** | **107** | **55** | **(55)** | **129** | **(22)** | **(63)** | **(13)** | **107** | **(98)** |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes | 31 | 98 | 187 | 13 | 92 | 125 | 52 | 316 | 269 |
| &nbsp;&nbsp;&nbsp;Prior accident year development | (43) | (41) | (39) | (53) | (14) | (34) | (7) | (123) | (55) |
| **Underlying underwriting gain** | $**95** | $**112** | $**93** | $**89** | $**56** | $**28** | $**32** | $**300** | $**116** |

---

**P&C Other Operations**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net income (loss)** | $**12** | $**13** | $**13** | $**(156)** | $**10** | $**11** | $**8** | $**38** | $**29** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income (loss) to underlying underwriting loss:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (19) | (19) | (18) | (19) | (18) | (19) | (18) | (56) | (55) |
| &nbsp;&nbsp;&nbsp;Net realized losses |  | 2 |  | 1 |  | 3 |  | 2 | 3 |
| &nbsp;&nbsp;&nbsp;Other expense | 1 |  |  |  | 4 |  |  | 1 | 4 |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) | 4 | 2 | 3 | (40) | 1 | 3 | 1 | 9 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Underwriting loss** | **(2)** | **(2)** | **(2)** | **(214)** | **(3)** | **(2)** | **(9)** | **(6)** | **(14)** |
| &nbsp;&nbsp;&nbsp;Prior accident year development |  |  |  | 212 |  |  | 7 |  | 7 |
| **Underlying underwriting loss** | $**(2)** | $**(2)** | $**(2)** | $**(2)** | $**(3)** | $**(2)** | $**(2)** | $**(6)** | $**(7)** |

---

**<u>Underlying combined ratio</u>**-This non-GAAP financial measure of underwriting results represents the combined ratio before catastrophes, prior accident year development and current accident year change in loss reserves upon acquisition of a business. Combined ratio is the most directly comparable U.S. GAAP measure. The Company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year loss and loss adjustment expense reserve development. The changes to loss reserves upon acquisition of a business are excluded from underlying combined ratio because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition as such trends are valuable to our investors' ability to assess the Company's financial performance. A reconciliation of the combined ratio to the underlying combined ratio for Property & Casualty, Business Insurance, and Personal Insurance is set forth on pages <u>[10](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_46)</u>, <u>[13](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_55)</u> and <u>[17](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_67)</u>, respectively.

------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**<u>Underlying loss and loss adjustment expense ratio</u>**- This non-GAAP financial measure is the cost of non-catastrophe loss and loss adjustment expenses incurred in the current accident year divided by earned premiums. The loss and loss adjustment expense ratio is the most directly comparable U.S. GAAP measure. Management believes that the underlying loss and loss adjustment expense ratio is a performance measure that is useful to investors as it removes the impact of volatile and unpredictable catastrophe losses and prior accident year development ("PYD"). A reconciliation of the loss and loss adjustment expense ratio to the underlying loss and loss adjustment expense ratio for Property & Casualty, Business Insurance, and Personal Insurance is set forth below.

**Property & Casualty**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Loss and loss adjustment expense ratio** | **58.5** | **58.8** | **66.3** | **61.9** | **64.4** | **63.3** | **62.3** | **61.1** | **63.3** |
| **Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 0.7 | (0.6) | (8.2) | (4.3) | (4.8) | (4.2) | (2.7) | (2.5) | (4.0) |
| **Underlying loss and loss adjustment expense ratio** | **59.3** | **58.3** | **58.1** | **57.6** | **59.6** | **59.1** | **59.6** | **58.6** | **59.4** |

---

**Business Insurance**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Loss and loss adjustment expense ratio** | **57.3** | **56.1** | **62.8** | **56.3** | **61.0** | **58.4** | **58.3** | **58.7** | **59.3** |
| **Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 0.6 | 1.0 | (5.9) | (0.2) | (3.7) | (2.4) | (1.8) | (1.4) | (2.6) |
| **Underlying loss and loss adjustment expense ratio** | **57.9** | **57.0** | **56.9** | **56.0** | **57.3** | **56.1** | **56.6** | **57.3** | **56.7** |

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**Personal Insurance**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Loss and loss adjustment expense ratio** | **62.9** | **69.0** | **79.1** | **59.3** | **76.8** | **81.0** | **76.3** | **70.2** | **78.1** |
| **Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Current accident year catastrophes and prior accident year development | 1.2 | (6.1) | (16.5) | 4.4 | (8.8) | (10.7) | (5.5) | (7.0) | (8.4) |
| **Underlying loss and loss adjustment expense ratio** | **64.2** | **62.8** | **62.6** | **63.7** | **68.0** | **70.3** | **70.7** | **63.2** | **69.7** |

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**<u>Core earnings margin</u>**- The Hartford uses the non-GAAP measure core earnings margin to evaluate, and believes it is an important measure of, the Employee Benefits segment's operating performance. Core earnings margin is calculated by dividing core earnings by revenues, excluding buyouts and realized gains (losses). Net income margin, calculated by dividing net income by revenues, is the most directly comparable U.S. GAAP measure. The Company believes that core earnings margin provides investors with a valuable measure of the performance of Employee Benefits because it reveals trends in the business that may be obscured by the effect of buyouts and realized gains (losses) as well as other items excluded in the calculation of core earnings. Core earnings margin should not be considered as a substitute for net income margin and does not reflect the overall profitability of Employee Benefits. Therefore, the Company believes it is important for investors to evaluate both core earnings margin and net income margin when reviewing performance. A reconciliation of net income margin to core earnings margin is set forth below.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Net income margin** | **8.1%** | **8.5%** | **7.4%** | **7.1%** | **8.8%** | **9.7%** | **6.2%** | **8.0%** | **8.2%** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile net income margin to core earnings margin:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized losses (gains), before tax | 0.4% | 0.8% | 0.3% | 0.8% | (0.1%) | 0.4% | (0.1%) | 0.5% | 0.2% |
| &nbsp;&nbsp;&nbsp;Income tax benefit | (0.2%) | (0.1%) | (0.1%) | (0.1%) | —% | (0.1%) | —% | (0.1%) | (0.1%) |
| **Core earnings margin** | **8.3%** | **9.2%** | **7.6%** | **7.8%** | **8.7%** | **10.0%** | **6.1%** | **8.4%** | **8.3%** |

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**<u>Return on Assets ("ROA"), Core Earnings</u>**- The Company uses this non-GAAP financial measure to evaluate, and believes is an important measure of, the Hartford Funds segment's operating performance. ROA, core earnings is calculated by dividing annualized core earnings by a daily average AUM. ROA is the most directly comparable U.S. GAAP measure. The Company believes that ROA, core earnings, provides investors with a valuable measure of the performance of the Hartford Funds segment because it reveals trends in our business that may be obscured by the effect of items excluded in the calculation of core earnings. ROA, core earnings, should not be considered as a substitute for ROA and does not reflect the overall profitability of our Hartford Funds business. Therefore, the Company believes it is important for investors to evaluate both ROA, and ROA, core earnings when reviewing the Hartford Funds segment performance. A reconciliation of ROA to ROA, core earnings is set forth below.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| **Return on Assets ("ROA")** | **15.4** | **15.6** | **12.1** | **13.8** | **15.7** | **13.1** | **13.7** | **14.4** | **14.2** |
| &nbsp;&nbsp;&nbsp;**Adjustments to reconcile ROA to ROA, core earnings:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Effect of net realized losses (gains), excluded from core earnings, before tax | (1.3) | (2.6) |  | 0.8 | (2.1) | (0.9) | (1.5) | (1.3) | (1.5) |
| &nbsp;&nbsp;&nbsp;Effect of income tax expense (benefit) | 0.2 | 0.3 | 0.3 | (0.3) |  | 0.6 | 0.3 | 0.3 | 0.3 |
| **Return on Assets ("ROA"), core earnings** | **14.3** | **13.3** | **12.4** | **14.3** | **13.6** | **12.8** | **12.5** | **13.4** | **13.0** |

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<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**<u>Net investment income excluding limited partnerships and other alternative investments</u>**- This non-GAAP measure is the amount of net investment income, on a Consolidated, P&C or Employee Benefits level earned from invested assets, excluding the net investment income related to limited partnerships and other alternative investments. The Company believes that net investment income, excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment earnings because it excludes the impact of the volatility in returns related to limited partnerships and other alternative investments. Net investment income is the most directly comparable U.S. GAAP measure. A reconciliation of net investment income to net investment income, excluding limited partnerships and other alternative investments is set forth below.

**Consolidated**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Total net investment income | $759 | $664 | $656 | $714 | $659 | $602 | $593 | $2079 | $1854 |
| Adjustment for income from limited partnerships and other alternative investments | (91) | (13) | (39) | (79) | (37) | (16) | (16) | (143) | (69) |
| **Net investment income excluding limited partnerships and other alternative investments** | $**668** | $**651** | $**617** | $**635** | $**622** | $**586** | $**577** | $**1936** | $**1785** |

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**Property & Casualty**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Total net investment income | $605 | $526 | $512 | $562 | $518 | $471 | $459 | $1643 | $1448 |
| Adjustment for income from limited partnerships and other alternative investments | (71) | (11) | (28) | (65) | (31) | (16) | (15) | (110) | (62) |
| **Net investment income excluding limited partnerships and other alternative investments** | $**534** | $**515** | $**484** | $**497** | $**487** | $**455** | $**444** | $**1533** | $**1386** |

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**Employee Benefits**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Total net investment income | $136 | $118 | $126 | $130 | $119 | $112 | $114 | $380 | $345 |
| Adjustment for income from limited partnerships and other alternative investments | (20) | (2) | (11) | (14) | (6) |  | (1) | (33) | (7) |
| **Net investment income excluding limited partnerships and other alternative investments** | $**116** | $**116** | $**115** | $**116** | $**113** | $**112** | $**113** | $**347** | $**338** |

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------

<u>[**Table of Contents**](#i53e9ac25b2a3430ab9c0ffa9a0ee7eb6_7)</u>

**<u>Annualized investment yield, excluding limited partnerships and other alternative investments</u>**-This non-GAAP measure is calculated as (a) the annualized net investment income, on a Consolidated, P&C or Employee Benefits level, excluding limited partnerships and other alternative investments, divided by (b) the monthly average invested assets at amortized cost, as applicable, excluding derivatives book value and limited partnerships and other alternative investments. The Company believes that annualized investment yield, excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment earnings because it excludes the impact of the volatility in returns related to limited partnerships and other alternative investments. Annualized investment yield is the most directly comparable U.S GAAP measure. A reconciliation of annualized investment yield to annualized investment yield, excluding limited partnerships and other alternative investments is set forth below.

**Consolidated**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Annualized investment yield | 4.8% | 4.3% | 4.3% | 4.7% | 4.4% | 4.1% | 4.1% | 4.5% | 4.2% |
| Adjustment for income from limited partnerships and other alternative investments | (0.2%) | 0.3% | 0.1% | (0.1%) | 0.1% | 0.3% | 0.2% | —% | 0.2% |
| **Annualized investment yield excluding limited partnerships and other alternative investments** | **4.6%** | **4.6%** | **4.4%** | **4.6%** | **4.5%** | **4.4%** | **4.3%** | **4.5%** | **4.4%** |

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**Property & Casualty**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Annualized investment yield | 4.9% | 4.4% | 4.3% | 4.8% | 4.5% | 4.2% | 4.1% | 4.5% | 4.2% |
| Adjustment for income from limited partnerships and other alternative investments | (0.2%) | 0.3% | 0.1% | (0.2%) | 0.1% | 0.2% | 0.2% | 0.1% | 0.2% |
| **Annualized investment yield excluding limited partnerships and other alternative investments** | **4.7%** | **4.7%** | **4.4%** | **4.6%** | **4.6%** | **4.4%** | **4.3%** | **4.6%** | **4.4%** |

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**Employee Benefits**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **Sept 30 2025** | **Jun 30 2025** | **Mar 31 2025** | **Dec 31 2024** | **Sept 30 2024** | **Jun 30 2024** | **Mar 31 2024** | **Sept 30 2025** | **Sept 30 2024** |
| Annualized investment yield | 4.8% | 4.1% | 4.3% | 4.5% | 4.1% | 3.9% | 3.9% | 4.4% | 3.9% |
| Adjustment for income from limited partnerships and other alternative investments | (0.3%) | 0.3% | 0.1% | (0.1%) | 0.2% | 0.4% | 0.3% | —% | 0.3% |
| **Annualized investment yield excluding limited partnerships and other alternative investments** | **4.5%** | **4.4%** | **4.4%** | **4.4%** | **4.3%** | **4.3%** | **4.2%** | **4.4%** | **4.2%** |

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