6 unchanged sentences
We have reviewed the accompanying condensed consolidated balance sheet of The Hartford Insurance Group, Inc.
−Removed: and subsidiaries (the "Company") as of March 31, 2025, the related condensed consolidated statements of operations, comprehensive income (loss), changes in stockholders' equity, and cash flows for the three-month periods ended March 31, 2025 and 2024 , and the related notes (collectively referred to as the "interim financial information").
+Added: and subsidiaries (the "Company") as of June 30, 2025, the related condensed consolidated statements of operations, comprehensive income (loss), and changes in stockholders' equity for the three-month and six-month periods ended June 30, 2025 and 2024 , and of cash flows for the six-month periods ended June 30, 2025 and 2024, and the related notes (collectively referred to as the "interim financial information").
Based on our reviews, we are not aware of any material modifications that should be made to the accompanying interim financial information for it to be in conformity with accounting principles generally accepted in the United States of America.
12 unchanged sentences
Hartford, Connecticut
−Removed: April 24, 2025
+Added: July 28, 2025
The Hartford Insurance Group, Inc.
Condensed Consolidated Statements of Operations
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
(in millions, except for per share data) 2025 2024 2025 2024
2 unchanged sentences
Net investment income 664 602 1,320 1,195
−Removed: Net realized gains (losses) ( 49 ) 28
+Added: Net realized losses ( 10 ) ( 59 ) ( 59 ) ( 31 )
Other revenues 30 26 52 45
3 unchanged sentences
Amortization of deferred policy acquisition costs ("DAC")
+Added: 625 561 1,232 1,106
Insurance operating costs and other expenses 1,337 1,285 2,689 2,568
14 unchanged sentences
Condensed Consolidated Statements of Comprehensive Income (Loss)
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
(in millions) 2025 2024 2025 2024
3 unchanged sentences
Change in unrealized losses on fixed maturities with an allowance for credit losses ("ACL") 1 — 1 1
−Removed: Change in net gain on cash flow hedging instruments — —
+Added: Change in net gain (loss) on cash flow hedging instruments ( 34 ) 9 ( 34 ) 9
Change in foreign currency translation adjustments 16 ( 1 ) 16 ( 2 )
6 unchanged sentences
Condensed Consolidated Balance Sheets
−Removed: (in millions, except for share and per share data) March 31,
+Added: (in millions, except for share and per share data) June 30,
2025 December 31, 2024
28 unchanged sentences
Stockholders’ Equity
−Removed: Preferred stock, $ 0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at March 31, 2025 and December 31, 2024, aggregate liquidation preference of $ 345
−Removed: Common stock, $ 0.01 par value — 1,500,000,000 shares authorized, 326,960,228 shares issued at March 31, 2025 and December 31, 2024
+Added: Preferred stock, $ 0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at June 30, 2025 and December 31, 2024, aggregate liquidation preference of $ 345
+Added: Common stock, $ 0.01 par value — 1,500,000,000 shares authorized, 326,960,228 shares issued at June 30, 2025 and December 31, 2024
Additional paid-in capital 527 578
9 unchanged sentences
Condensed Consolidated Statements of Changes in Stockholders' Equity
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
(in millions, except for share and per share data) 2025 2024 2025 2024
35 unchanged sentences
Condensed Consolidated Statements of Cash Flows
−Removed: Three Months Ended March 31,
+Added: Six Months Ended June 30,
(in millions) 2025 2024
2 unchanged sentences
Adjustments to reconcile net income to net cash provided by operating activities:
−Removed: Net realized losses (gains) 49 ( 28 )
+Added: Net realized losses 59 31
Amortization of deferred policy acquisition costs 1,232 1,106
3 unchanged sentences
Change in assets and liabilities:
−Removed: Decrease (increase) in reinsurance recoverables ( 50 ) 11
+Added: Decrease in reinsurance recoverables 32 37
Net change in accrued and deferred income taxes ( 181 ) ( 155 )
16 unchanged sentences
Limited partnership and other alternative investments ( 445 ) ( 314 )
−Removed: Net proceeds from derivatives 12 —
+Added: Net proceeds from (payments for) derivatives ( 22 ) 2
Net additions of property and equipment ( 78 ) ( 111 )
5 unchanged sentences
Withdrawals and other deductions from investment and universal life-type contracts ( 57 ) ( 73 )
−Removed: Net return of shares under incentive and stock compensation plans ( 54 ) ( 27 )
−Removed: Treasury stock acquired ( 400 ) ( 350 )
+Added: Net (issuance) return of shares under incentive and stock compensation plans, including related excise tax benefit ( 33 ) ( 9 )
+Added: Treasury stock acquired, including related excise tax paid ( 815 ) ( 700 )
Dividends paid on preferred stock ( 10 ) ( 10 )
40 unchanged sentences
Computation of Basic and Diluted Earnings per Common Share
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
(In millions, except for per share data) 2025 2024 2025 2024
14 unchanged sentences
Segment Revenues
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
Business Insurance
1 unchanged sentence
General liability 609 540 1,193 1,066
+Added: Marine 68 67 137 134
Package business 659 572 1,278 1,121
1 unchanged sentence
Professional liability 208 200 414 403
+Added: Bond 83 80 168 158
Assumed reinsurance 222 180 442 361
2 unchanged sentences
Net investment income 449 402 886 793
−Removed: Net realized gains (losses) ( 24 ) 12
+Added: Net realized losses ( 20 ) ( 50 ) ( 44 ) ( 38 )
Other revenue [1] 1 — 2 —
5 unchanged sentences
Net investment income 58 50 115 100
−Removed: Net realized gains (losses) ( 2 ) 1
+Added: Net realized losses ( 4 ) ( 8 ) ( 6 ) ( 7 )
Other revenue 24 25 44 44
2 unchanged sentences
Net investment income 19 19 37 37
+Added: Net realized losses ( 2 ) ( 3 ) ( 2 ) ( 3 )
Total P&C Other Operations 17 16 35 34
5 unchanged sentences
Net investment income 118 112 244 226
−Removed: Net realized gains (losses) ( 4 ) 1
+Added: Net realized losses ( 16 ) ( 9 ) ( 20 ) ( 8 )
Total Employee Benefits 1,765 1,768 3,555 3,522
8 unchanged sentences
[1] Other revenues for Business Insurance includes revenues from equity method investments that are not considered revenues from contracts with customers in the table below.
−Removed: [2] For the three months ended March 31, 2025 and 2024, AARP members accounted for earned premiums of $ 822 and $ 758 , respectively.
+Added: [2] For the three months ended June 30, 2025 and 2024, AARP members accounted for earned premiums of $ 841 and $ 788 , respectively.
+Added: For the six months ended June 30, 2025 and 2024, AARP members accounted for earned premiums of $ 1.66 billion and $ 1.55 billion, respectively.
[3] Represents revenues earned for investment advisory services on third party life and annuity separate account assets under management ("AUM") by the Company's Hartford Funds segment.
3 unchanged sentences
Significant Segment Expenses
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
Business Insurance
37 unchanged sentences
Notes To Condensed Consolidated Financial Statements (continued)
−Removed: Segment/Category Summary For the Three Months Ended March 31, 2025
+Added: Segment/Category Summary For the Three Months Ended June 30, 2025
Reportable Segments
2 unchanged sentences
Net investment income 449 58 19 118 6 650 14 664
−Removed: Net realized losses ( 24 ) ( 2 ) — ( 4 ) — ( 30 ) ( 19 ) ( 49 )
+Added: Net realized gains (losses) ( 20 ) ( 4 ) ( 2 ) ( 16 ) 9 ( 33 ) 23 ( 10 )
Other revenue [1] 1 24 — — — 25 5 30
8 unchanged sentences
Amortization of other intangibles $ 7 $ — $ — $ 10 $ — $ 17 $ — $ 17
−Removed: Segment/Category Summary For the Three Months Ended March 31, 2024
+Added: Segment/Category Summary For the Six Months Ended June 30, 2025
Reportable Segments
2 unchanged sentences
Net investment income 886 115 37 244 10 1,292 28 1,320
−Removed: Net realized gains 12 1 — 1 5 19 9 28
+Added: Net realized gains (losses) ( 44 ) ( 6 ) ( 2 ) ( 20 ) 9 ( 63 ) 4 ( 59 )
Other revenue [1] 2 44 — — — 46 6 52
8 unchanged sentences
Amortization of other intangibles $ 14 $ 1 $ — $ 20 $ — $ 35 $ — $ 35
+Added: Note 3 - Segment Information
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
+Added: Segment/Category Summary For the Three Months Ended June 30, 2024
+Added: Reportable Segments
+Added: Business Insurance Personal Insurance P&C Other Operations Employee Benefits Hartford Funds Total Reportable Segments Corporate Consolidated
+Added: Earned premium and fee income from external customers $ 3,132 $ 857 $ — $ 1,665 $ 253 $ 5,907 $ 10 $ 5,917
+Added: Net investment income 402 50 19 112 5 588 14 602
+Added: Net realized gains (losses) ( 50 ) ( 8 ) ( 3 ) ( 9 ) 3 ( 67 ) 8 ( 59 )
+Added: Other revenue [1] — 25 — — — 25 1 26
+Added: Total Revenues 3,484 924 16 1,768 261 6,453 33 6,486
+Added: Significant segment expenses 2,813 920 2 1,553 203 5,491 5,491
+Added: Other segment expenses [2] 1 19 — — — 20 20
+Added: Corporate expenses 63 63
+Added: Income tax expense (benefit) 130 ( 4 ) 3 44 14 187 ( 13 ) 174
+Added: Net income (loss) $ 540 $ ( 11 ) $ 11 $ 171 $ 44 $ 755 $ ( 17 ) $ 738
+Added: Other segment disclosures:
+Added: Amortization of DAC $ 489 $ 63 $ — $ 9 $ — $ 561 $ — $ 561
+Added: Amortization of other intangibles $ 7 $ — $ — $ 10 $ — $ 17 $ — $ 17
+Added: Segment/Category Summary For the Six Months Ended June 30, 2024
+Added: Reportable Segments
+Added: Business Insurance Personal Insurance P&C Other Operations Employee Benefits Hartford Funds Total Reportable Segments Corporate Consolidated
+Added: Earned premium and fee income from external customers $ 6,191 $ 1,678 $ — $ 3,304 $ 503 $ 11,676 $ 20 $ 11,696
+Added: Net investment income 793 100 37 226 9 1,165 30 1,195
+Added: Net realized gains (losses) ( 38 ) ( 7 ) ( 3 ) ( 8 ) 8 ( 48 ) 17 ( 31 )
+Added: Other revenue [1] — 44 — — — 44 1 45
+Added: Total Revenues 6,946 1,815 34 3,522 520 12,837 68 12,905
+Added: Significant segment expenses 5,571 1,754 11 3,173 406 10,915 10,915
+Added: Other segment expenses [2] 3 34 — — — 37 37
+Added: Corporate expenses 130 130
+Added: Income tax expense (benefit) 259 4 4 70 25 362 ( 30 ) 332
+Added: Net income (loss) $ 1,113 $ 23 $ 19 $ 279 $ 89 $ 1,523 $ ( 32 ) $ 1,491
+Added: Other segment disclosures:
+Added: Amortization of DAC $ 965 $ 123 $ — $ 18 $ — $ 1,106 $ — $ 1,106
+Added: Amortization of other intangibles $ 14 $ 1 $ — $ 20 $ — $ 35 $ — $ 35
[1] Other revenues for Business Insurance and Corporate includes revenues from equity method investments that are not considered revenues from contracts with customers in the table below.
3 unchanged sentences
Notes To Condensed Consolidated Financial Statements (continued)
−Removed: March 31, 2025 December 31, 2024
+Added: June 30, 2025 December 31, 2024
Business Insurance $ 55,682 $ 53,296
7 unchanged sentences
Non-Insurance Revenue from Contracts with Customers
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
Revenue Line Item 2025 2024 2025 2024
25 unchanged sentences
Notes To Condensed Consolidated Financial Statements (continued)
−Removed: Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of March 31, 2025
+Added: Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of June 30, 2025
Total Quoted Prices in
23 unchanged sentences
Foreign exchange derivatives 3 — 3 —
+Added: Equity derivatives 5 — 5 —
Total derivative assets [2] 35 — 35 —
47 unchanged sentences
[3] Includes derivative instruments in a net negative fair value position (derivative liability) after consideration of the accrued interest and impact of collateral posting requirements which may be imposed by agreements and applicable law.
−Removed: The Company has overseas deposits included in other investments of $ 70 and $ 61 as of March 31, 2025 and December 31, 2024, respectively, which are measured at fair value using the net asset value as a practical expedient.
+Added: The Company has overseas deposits included in other investments of $ 71 and $ 61 as of June 30, 2025 and December 31, 2024, respectively, which are measured at fair value using the net asset value as a practical expedient.
Fixed Maturities, Equity Securities, Short-term Investments, and Derivatives
105 unchanged sentences
Input on Fair Value [2]
−Removed: As of March 31, 2025
+Added: As of June 30, 2025
ABS [3] $ 84 Discounted cash flows Spread 487 bps 752 bps 505 bps Decrease
22 unchanged sentences
[6]Generally, a change in the assumption used for the constant default rate would have been accompanied by a directionally similar change in the assumption used for the loss severity and a directionally opposite change in the assumption used for constant prepayment rate and would have resulted in wider spreads .
−Removed: As of March 31, 2025 and December 31, 2024, the fair values of the Company's level 3 derivatives were less than $ 1 for both periods.
+Added: As of June 30, 2025 and December 31, 2024, the fair values of the Company's level 3 derivatives were less than $ 1 for both periods.
The table above excludes certain securities for which fair values are predominately based on independent broker quotes.
2 unchanged sentences
Therefore, similar to non-broker priced securities, increases in these inputs would generally cause fair values to decrease.
−Removed: As of March 31, 2025, no significant adjustments were made by the Company to broker prices received.
+Added: As of June 30, 2025, no significant adjustments were made by the Company to broker prices received.
Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs
5 unchanged sentences
Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
−Removed: Three Months Ended March 31, 2025
+Added: Three Months Ended June 30, 2025
Total realized/unrealized gains (losses)
−Removed: Fair value as of January 1, 2025 Included in net income [1] Included in OCI [2] Purchases Settlements Sales Transfers into Level 3 [3] Transfers out of Level 3 [3] Fair value as of March 31, 2025
+Added: Fair value as of March 31, 2025 Included in net income [1] Included in OCI [2] Purchases Settlements Sales Transfers into Level 3 [3] Transfers out of Level 3 [3] Fair value as of June 30, 2025
Fixed maturities, AFS
10 unchanged sentences
Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
−Removed: Three Months Ended March 31, 2024
+Added: Six Months Ended June 30, 2025
Total realized/unrealized gains (losses)
−Removed: Fair value as of January 1, 2024 Included in net income [1] Included in OCI [2] Purchases Settlements Sales Transfers into Level 3 [3] Transfers out of Level 3 [3] Fair value as of March 31, 2024
+Added: Fair value as of January 1, 2025 Included in net income [1] Included in OCI [2] Purchases Settlements Sales Transfers into Level 3 [3] Transfers out of Level 3 [3] Fair value as of June 30, 2025
Fixed maturities, AFS
9 unchanged sentences
Total Assets $ 2,992 $ ( 16 ) $ 67 $ 1,034 $ ( 300 ) $ ( 86 ) $ 81 $ ( 337 ) $ 3,435
+Added: Note 4 - Fair Value Measurements
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
+Added: Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
+Added: Three Months Ended June 30, 2024
+Added: Total realized/unrealized gains (losses)
+Added: Fair value as of March 31, 2024 Included in net income [1] Included in OCI [2] Purchases Settlements Sales Transfers into Level 3 [3] Transfers out of Level 3 [3] Fair value as of June 30, 2024
+Added: Fixed maturities, AFS
+Added: ABS $ 16 $ — $ — $ — $ — $ — $ — $ ( 8 ) $ 8
+Added: CLOs 184 — — 460 ( 14 ) — — ( 130 ) 500
+Added: CMBS 241 ( 2 ) 2 — ( 3 ) ( 48 ) — — 190
+Added: Corporate 1,923 — ( 18 ) 206 ( 49 ) ( 1 ) — — 2,061
+Added: RMBS 69 — — 14 ( 5 ) — — ( 38 ) 40
+Added: Total fixed maturities, AFS 2,433 ( 2 ) ( 16 ) 680 ( 71 ) ( 49 ) — ( 176 ) 2,799
+Added: FVO securities 167 ( 2 ) — — ( 5 ) — — — 160
+Added: Equity securities, at fair value 58 — — — — — — — 58
+Added: Short-term investments 26 — — — ( 1 ) — — — 25
+Added: Total Assets $ 2,684 $ ( 4 ) $ ( 16 ) $ 680 $ ( 77 ) $ ( 49 ) $ — $ ( 176 ) $ 3,042
+Added: Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
+Added: Six Months Ended June 30, 2024
+Added: Total realized/unrealized gains (losses)
+Added: Fair value as of January 1, 2024 Included in net income [1] Included in OCI [2] Purchases Settlements Sales Transfers into Level 3 [3] Transfers out of Level 3 [3] Fair value as of June 30, 2024
+Added: Fixed maturities, AFS
+Added: ABS $ — $ — $ — $ 16 $ — $ — $ — $ ( 8 ) $ 8
+Added: CLOs 113 — — 590 ( 26 ) — — ( 177 ) 500
+Added: CMBS 227 ( 2 ) 12 — ( 5 ) ( 48 ) 6 — 190
+Added: Corporate 1,861 — ( 33 ) 312 ( 76 ) ( 3 ) — — 2,061
+Added: RMBS 36 — — 52 ( 10 ) — — ( 38 ) 40
+Added: Total fixed maturities, AFS 2,237 ( 2 ) ( 21 ) 970 ( 117 ) ( 51 ) 6 ( 223 ) 2,799
+Added: FVO securities 167 1 — — ( 8 ) — — — 160
+Added: Equity securities, at fair value 58 — — — — — — — 58
+Added: Short-term investments 25 — — 1 ( 1 ) — — — 25
+Added: Total Assets $ 2,487 $ ( 1 ) $ ( 21 ) $ 971 $ ( 126 ) $ ( 51 ) $ 6 $ ( 223 ) $ 3,042
[1] Amounts in these columns are generally reported in net realized gains (losses) .
7 unchanged sentences
Level 3 Still Held at End of Period
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024 2025 2024 2025 2024
−Removed: Changes in Unrealized Gain/(Loss) included in Net Income [1] [2] Changes in Unrealized Gain/(Loss) included in OCI [3]
+Added: Changes in Unrealized Gain/(Loss) included in Net Income [1] [2] Changes in Unrealized Gain/(Loss) included in OCI [3] Changes in Unrealized Gain/(Loss) included in Net Income [1] [2] Changes in Unrealized Gain/(Loss) included in OCI [3]
Fixed maturities, AFS
12 unchanged sentences
These instruments are included within FVO securities on the Condensed Consolidated Balance Sheets and changes in the fair value of these investments are reported in net realized gains and losses.
−Removed: As of March 31, 2025 and December 31, 2024, the fair value of assets using the fair value option was $ 280 and $ 308 , respectively, of which $ 195 and $ 197 , respectively, were residual interests of securitizations.
−Removed: For the three months ended March 31, 2025 and 2024, net realized gains (losses) related to the change in fair value of assets using the fair value option were $( 4 ) and $ 4 , respectively.
+Added: As of June 30, 2025 and December 31, 2024, the fair value of assets using the fair value option was $ 181 and $ 308 ,
+Added: respectively, of which $ 181 and $ 197 , respectively, were residual interests of securitizations.
+Added: For the three and six months ended June 30, 2025, net realized gains (losses) related to the change in fair value of assets using the fair value option were $( 13 ) and $( 17 ), respectively.
+Added: For the three and six months ended June 30, 2024, net realized gains (losses) related to the change in fair value of assets using the fair value option were $( 1 ) and $ 3 , respectively.
Financial Instruments Not Carried at Fair Value
Financial Assets and Liabilities Not Carried at Fair Value
−Removed: March 31, 2025 December 31, 2024
+Added: June 30, 2025 December 31, 2024
Fair Value Hierarchy Level Carrying Amount [1] Fair Value Fair Value Hierarchy Level Carrying Amount [1] Fair Value
3 unchanged sentences
Junior subordinated debentures [2] Level 2 $ 499 $ 465 Level 2 $ 499 $ 460
−Removed: [1] As of March 31, 2025 and December 31, 2024, the carrying amount of mortgage loans is net of ACL of $ 43 and $ 44 , respectively.
+Added: [1] As of June 30, 2025 and December 31, 2024, the carrying amount of mortgage loans is net of ACL of $ 43 and $ 44 , respectively.
[2] Included in long-term debt in the Condensed Consolidated Balance Sheets, except for any current maturities, which are included in short-term debt when applicable.
3 unchanged sentences
Net Realized Gains (Losses)
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
(Before tax) 2025 2024 2025 2024
Gross gains on sales of fixed maturities
+Added: $ 19 $ 6 $ 32 $ 11
Gross losses on sales of fixed maturities
7 unchanged sentences
Other, net [2] ( 20 ) ( 3 ) ( 48 ) ( 6 )
−Removed: Net realized gains (losses) $ ( 49 ) $ 28
−Removed: [1] The change in net unrealized gains (losses) on equity securities still held as of the end of the period and included in net realized gains (losses) were $( 11 ) and $ 36 for the three months ended March 31, 2025, and 2024, respectively.
−Removed: [2] The three months ended March 31, 2025, and 2024 includes gains (losses) from transactional foreign currency revaluation of $( 10 ) and $ 2 , respectively, and gains (losses) on non-qualifying derivatives of $ 0 and $( 2 ), respectively.
−Removed: Proceeds from the sales of fixed maturities, AFS totaled $ 1.0 billion and $ 0.4 billion for the three months ended March 31, 2025 and 2024, respectively.
−Removed: There were no non-cash investing activities for both the three months ended March 31, 2025 and 2024.
+Added: Net realized losses $ ( 10 ) $ ( 59 ) $ ( 59 ) $ ( 31 )
+Added: [1] The change in net unrealized gains on equity securities still held as of June 30, 2025, and included in net realized gains were $ 34 and $ 21 for the three and six months ended June 30, 2025, respectively.
+Added: The change in net unrealized gains on equity securities still held as of June 30, 2024, and included in net realized gains were $ 15 and $ 44 for the three and six months ended June 30, 2024, respectively.
+Added: [2] For the three and six months ended June 30, 2025, includes losses from transactional foreign currency revaluation of $ 8 and $ 18 , respectively, and losses on non-qualifying derivatives of $ 11 and $ 11 , respectively.
+Added: For the three and six months ended June 30, 2024, includes gains from transactional foreign currency revaluation of $ 4 and $ 6 , respectively, and losses on non-qualifying derivatives of $ 6 and $ 8 , respectively.
+Added: Proceeds from the sales of fixed maturities, AFS totaled $ 1.7 billion and $ 2.7 billion for the three and six months ended June 30, 2025, respectively, and $ 2.3 billion and $ 2.7 billion for the three and six months ended June 30, 2024.
+Added: There were no non-cash investing activities for both the three and six months ended June 30, 2025, and 2024.
Accrued Investment Income on Fixed Maturities, AFS and Mortgage Loans
−Removed: As of March 31, 2025 and December 31, 2024, the Company reported accrued investment income related to fixed maturities, AFS of $ 426 and $ 412 , respectively, and accrued investment income related to mortgage loans of $ 23 and $ 22 , respectively.
+Added: As of June 30, 2025 and December 31, 2024, the Company reported accrued investment income related to fixed maturities, AFS of $ 428 and $ 412 , respectively, and accrued investment income related to mortgage loans of $ 23 and $ 22 , respectively.
These amounts are not included in the carrying value of the fixed maturities or mortgage loans.
5 unchanged sentences
The Company will record an "intent-to-sell impairment" as a reduction to the amortized cost of fixed maturities, AFS in an unrealized loss position if the Company intends to sell or it is more likely than not that the Company will be required to sell the fixed maturity before a recovery in value.
−Removed: A corresponding charge is recorded in net realized losses equal to the difference between the fair value on the impairment date and the amortized cost basis of the fixed maturity before recognizing the impairment.
+Added: A corresponding charge is recorded in net realized losses equal to the difference
+Added: between the fair value on the impairment date and the amortized cost basis of the fixed maturity before recognizing the impairment.
For fixed maturities where a credit loss has been identified and no intent-to-sell impairment has been recorded, the Company will record an ACL for the portion of the unrealized loss related to the credit loss.
7 unchanged sentences
The Company's considerations include, but are not limited to, (a) changes in the financial condition of the issuer and/or the underlying collateral, (b) whether the issuer is current on contractually obligated interest and principal payments, (c) credit ratings, (d) payment structure of the security and (e) the extent to which the fair value has been less than the amortized cost of the security.
−Removed: For non-structured securities, assumptions include, but are not limited to, economic and industry-specific trends and fundamentals, instrument-specific developments including changes in credit ratings, industry earnings multiples and the issuer’s ability to restructure, access capital markets, and execute asset sales.
Note 5 - Investments
1 unchanged sentence
Notes To Condensed Consolidated Financial Statements (continued)
−Removed: For structured securities, assumptions include, but are not limited to, various performance indicators such as historical and projected default and recovery rates, credit ratings, current and projected delinquency rates, loan-to-value (" LTV") ratios, average cumulative collateral loss rates that vary by vintage
−Removed: year, prepayment speeds, and property value declines.
+Added: For non-structured securities, assumptions include, but are not limited to, economic and industry-specific trends and fundamentals, instrument-specific developments including changes in credit ratings, industry earnings multiples and the issuer’s ability to restructure, access capital markets, and execute asset sales.
+Added: For structured securities, assumptions include, but are not limited to, various performance indicators such as historical and
+Added: projected default and recovery rates, credit ratings, current and projected delinquency rates, loan-to-value (" LTV") ratios, average cumulative collateral loss rates that vary by vintage year, prepayment speeds, and property value declines.
These assumptions require the use of significant management judgment and include the probability of issuer default and estimates regarding timing and amount of expected recoveries, which may include estimating the underlying collateral value.
ACL on Fixed Maturities, AFS by Type
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30,
+Added: (Before tax) CMBS Total Corporate CMBS Total
+Added: Balance as of beginning of period $ 14 $ 14 $ 6 $ 12 $ 18
+Added: Credit losses on fixed maturities where an allowance was not previously recorded — — — 1 1
+Added: Balance as of end of period $ 14 $ 14 $ 6 $ 13 $ 19
+Added: ACL on Fixed Maturities, AFS by Type
+Added: Six Months Ended June 30,
(Before tax) Corporate CMBS Total Corporate CMBS Total
Balance as of beginning of period $ 3 $ 13 $ 16 $ 9 $ 12 $ 21
+Added: Credit losses on fixed maturities where an allowance was not previously recorded — — — — 1 1
Net increases (decreases) on fixed maturities where an allowance was previously recorded ( 3 ) 1 ( 2 ) 1 — 1
1 unchanged sentence
Balance as of end of period $ — $ 14 $ 14 $ 6 $ 13 $ 19
+Added: Note 5 - Investments
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
Fixed Maturities, AFS
Fixed Maturities, AFS, by Type
−Removed: March 31, 2025 December 31, 2024
+Added: June 30, 2025 December 31, 2024
Cost ACL Gross
11 unchanged sentences
Fixed Maturities, AFS, by Contractual Maturity Year
−Removed: March 31, 2025 December 31, 2024
+Added: June 30, 2025 December 31, 2024
Amortized Cost Fair Value Amortized Cost Fair Value
9 unchanged sentences
Concentration of Credit Risk
−Removed: The Company aims to maintain a diversified investment portfolio including issuer, sector and geographic stratification, where applicable, and has established certain exposure limits, diversification standards and review procedures to mitigate credit risk.
−Removed: The Company had no investment exposure to any credit concentration risk of a single issuer greater than 10% of the Company's stockholders' equity as of March 31, 2025 or
+Added: The Company aims to maintain a diversified investment portfolio including issuer, sector and geographic stratification, where
+Added: applicable, and has established certain exposure limits, diversification standards and review procedures to mitigate credit risk.
+Added: The Company had no investment exposure to any credit concentration risk of a single issuer greater than 10% of the Company's stockholders' equity as of June 30, 2025 or December 31, 2024 other than U.S.
+Added: government securities and certain U.S.
+Added: government agencies.
Note 5 - Investments
1 unchanged sentence
Notes To Condensed Consolidated Financial Statements (continued)
−Removed: December 31, 2024 other than U.S.
−Removed: government securities and certain U.S.
−Removed: government agencies.
Unrealized Losses on Fixed Maturities, AFS
−Removed: Unrealized Loss Aging for Fixed Maturities, AFS by Type and Length of Time as of March 31, 2025
+Added: Unrealized Loss Aging for Fixed Maturities, AFS by Type and Length of Time as of June 30, 2025
Less Than 12 Months 12 Months or More Total
23 unchanged sentences
Total fixed maturities, AFS in an unrealized loss position $ 10,408 $ ( 243 ) $ 16,941 $ ( 1,984 ) $ 27,349 $ ( 2,227 )
−Removed: As of March 31, 2025, fixed maturities, AFS in an unrealized loss position consisted of 3,648 instruments and were primarily depressed due to higher interest rates and/or wider credit spreads since the purchase date.
−Removed: As of March 31, 2025, 95 % of these fixed maturities were depressed less than 20% of cost or amortized cost.
−Removed: The decrease in unrealized losses during the three months ended March 31, 2025, was primarily attributable to lower interest rates, partially offset by wider credit spreads.
+Added: As of June 30, 2025, fixed maturities, AFS in an unrealized loss position consisted of 3,135 instruments and were primarily depressed due to higher interest rates and/or wider credit spreads since the purchase date.
+Added: As of June 30, 2025, 93 % of these fixed maturities were depressed less than 20% of cost or amortized cost.
+Added: The decrease in unrealized losses during the six months ended June 30, 2025, was primarily attributable to lower interest rates.
Most of the fixed maturities depressed for twelve months or more relate to the corporate sector, municipal bonds, and RMBS, which were primarily depressed because current rates are higher and/or market spreads are wider than at the respective purchase dates.
8 unchanged sentences
The economic scenarios are projected over 10 years.
−Removed: The first two to four years of the 10-year period assume a specific modeled economic scenario (including moderate upside, moderate recession and severe recession scenarios) and then revert to
+Added: The first two to four years of the 10-year period assume a specific modeled economic scenario (including moderate upside, moderate recession and severe recession scenarios) and then revert to historical long-term assumptions over the remaining period.
+Added: Using these economic scenarios, the forecasting model projects
Note 5 - Investments
1 unchanged sentence
Notes To Condensed Consolidated Financial Statements (continued)
−Removed: historical long-term assumptions over the remaining period.
−Removed: Using these economic scenarios, the forecasting model projects property-specific operating income and capitalization rates used to estimate the value of a future operating income stream.
+Added: property-specific operating income and capitalization rates used to estimate the value of a future operating income stream.
The operating income and the property valuations derived from capitalization rates are compared to loan payment and principal amounts to create debt service coverage ratios ("DSCRs") and LTVs over the forecast period.
8 unchanged sentences
During the period in which all or a portion of the mortgage loan is determined to be uncollectible, the ACL is written off against the amortized cost.
−Removed: There were no mortgage loans held-for-sale as of March 31, 2025 or December 31, 2024.
−Removed: In addition, for the three months ended March 31, 2025 and 2024, the Company had no mortgage loans that have had extensions or restructurings other than what is allowable under the original terms of the contract or with borrowers experiencing financial difficulties.
+Added: There were no mortgage loans held-for-sale as of June 30, 2025 or December 31, 2024.
+Added: In addition, for the three and six months ended June 30, 2025 and 2024, the Company had no mortgage
+Added: loans that have had extensions or restructurings other than what is allowable under the original terms of the contract or with borrowers experiencing financial difficulties.
The one mortgage loan extension that was granted over the past twelve months to a borrower that was experiencing financial difficulties is current and performing in conjunction with the modified terms.
ACL on Mortgage Loans
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
ACL as of beginning of period $ 43 $ 48 $ 44 $ 51
1 unchanged sentence
Current period gross write-offs — — ( 1 ) —
−Removed: ACL as of March 31,
−Removed: The weighted-average LTV ratio of the Company’s mortgage loan portfolio was 56 % as of March 31, 2025, while the weighted-average LTV ratio at origination of these loans was 59 %.
+Added: ACL as of June 30,
+Added: $ 43 $ 48 $ 43 $ 48
+Added: The weighted-average LTV ratio of the Company’s mortgage loan portfolio was 56 % as of June 30, 2025, while the weighted-average LTV ratio at origination of these loans was 59 %.
LTV ratios compare the loan amount to the value of the underlying property collateralizing the loan with property values based on appraisals updated no less than annually.
1 unchanged sentence
DSCR compares a property’s net operating income to the borrower’s principal and interest payments and are updated no less than annually through reviews of underlying properties.
−Removed: Mortgage Loans LTV & DSCR by Origination Year as of March 31, 2025
+Added: Mortgage Loans LTV & DSCR by Origination Year as of June 30, 2025
2025 2024 2023 2022 2021 2020 & Prior Total
11 unchanged sentences
[1] Amortized cost of mortgage loans excludes ACL of $ 43 .
−Removed: Note 5 - Investments
−Removed: The Hartford Insurance Group, Inc.
−Removed: Notes To Condensed Consolidated Financial Statements (continued)
Mortgage Loans LTV & DSCR by Origination Year as of December 31, 2024
12 unchanged sentences
[1] Amortized cost of mortgage loans excludes ACL of $ 44 .
+Added: Note 5 - Investments
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
Mortgage Loans by Region
−Removed: March 31, 2025 December 31, 2024
+Added: June 30, 2025 December 31, 2024
Amortized Cost Percent of Total Amortized Cost Percent of Total
13 unchanged sentences
Mortgage Loans by Property Type
−Removed: March 31, 2025 December 31, 2024
+Added: June 30, 2025 December 31, 2024
Amortized Cost Percent of Total Amortized Cost Percent of Total
10 unchanged sentences
Mortgage loans are considered past due if a payment of principal or interest is not received according to the contractual terms of the loan agreement, which typically includes a grace period.
−Removed: As of March 31, 2025 and December 31, 2024, the Company held no mortgage loans considered past due.
+Added: As of June 30, 2025 and December 31, 2024, the Company held no mortgage loans considered past due.
Mortgage Servicing
The Company originates, sells and services commercial mortgage loans on behalf of third parties and recognizes servicing fee income over the period that services are performed.
−Removed: As of both March 31, 2025 and December 31, 2024, under this program, the Company serviced mortgage loans with a total outstanding principal of $ 10.0 billion, of which $ 4.8 billion was serviced on behalf of third parties and $ 5.2 billion was retained and reported in total investments on the Company's Condensed Consolidated Balance Sheets.
−Removed: Servicing rights are carried at the lower of cost or fair value and were $ 0 as of March 31, 2025 and December 31, 2024, because servicing fees were market-level fees at origination and remain adequate to compensate the Company for servicing the loans.
+Added: As of June 30, 2025, under this program, the Company serviced mortgage loans with a total outstanding principal of $ 10.1 billion, of which $ 4.8 billion was serviced on
+Added: behalf of third parties and $ 5.3 billion was retained and reported in total investments on the Company's Condensed Consolidated Balance Sheets.
+Added: As of December 31, 2024, the Company serviced mortgage loans with a total outstanding principal balance of $ 10.0 billion, of which $ 4.8 billion was serviced on behalf of third parties and $ 5.2 billion was retained and reported in total investments on the Company's Condensed Consolidated Balance Sheets.
+Added: Servicing rights are carried at the lower of cost or fair value and were $ 0 as of June 30, 2025 and December 31, 2024, because servicing fees were market-level fees at origination and remain adequate to compensate the Company for servicing the loans.
Variable Interest Entities
4 unchanged sentences
Based on the Company’s assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in the Company’s Condensed Consolidated Financial Statements.
−Removed: Note 5 - Investments
−Removed: The Hartford Insurance Group, Inc.
−Removed: Notes To Condensed Consolidated Financial Statements (continued)
Consolidated VIEs
−Removed: As of March 31, 2025 and December 31, 2024, the Company did no t hold any securities for which it is the primary beneficiary.
+Added: As of June 30, 2025 and December 31, 2024, the Company did no t hold any securities for which it is the primary beneficiary.
Non-Consolidated VIEs
1 unchanged sentence
For these non-consolidated VIEs, the Company has determined it is not the primary beneficiary as it has no ability to direct activities that could significantly affect the economic performance of the investments.
−Removed: The Company’s maximum exposure to loss as of March 31, 2025 and December 31, 2024 was limited to the total carrying value of $ 3.4 billion and $ 3.2 billion, respectively, which are a portion of the investments in limited partnerships and other alternative investments in the Company's Condensed Consolidated Balance Sheets that are primarily recorded using the equity method of accounting.
−Removed: As of March 31, 2025 and December 31, 2024, the Company has outstanding commitments totaling $ 1.9 billion and $ 2.0 billion, respectively, whereby the Company is committed to fund these investments and may be called by the partnership during the commitment period to fund the purchase of new investments and partnership expenses.
+Added: The Company’s maximum exposure to loss as of June 30, 2025 and December 31, 2024 was limited to the total carrying value of $ 3.6 billion and $ 3.2 billion, respectively, which are a portion of the investments in limited partnerships and other alternative investments in the Company's Condensed Consolidated Balance Sheets that are primarily recorded using the equity method of accounting.
+Added: As of June 30, 2025 and December 31, 2024, the Company has outstanding commitments totaling $ 2.1 billion and $ 2.0 billion, respectively, whereby the Company is committed to fund these investments and may be called by the partnership during the commitment period to fund the purchase of new investments and partnership expenses.
These investments are generally of a passive nature in that the Company does not take an active role in management.
−Removed: For further discussion of these investments, see Equity Method Investments within Note 5 - Investments of Notes to Consolidated Financial Statements included in the Company’s 2024 Form 10-K Annual Report.
+Added: For further discussion of these investments, see Equity Method
+Added: Note 5 - Investments
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
+Added: Investments within Note 5 - Investments of Notes to Consolidated Financial Statements included in the Company’s 2024 Form 10-K Annual Report.
Furthermore, the Company makes investments in entities that sponsor affordable housing projects.
1 unchanged sentence
The Company applies the proportional amortization method to subsequently measure its investments in such qualified affordable housing projects, where costs are amortized over the period in which the investor expects to receive tax credits and the resulting amortization is recognized as a component of income tax expense on the Company's Condensed Consolidated Statements of Operations.
−Removed: For the three months ended March 31, 2025 and 2024, the Company recognized amortization of $ 4 and $ 1 , respectively, and related tax benefits of $ 6 and $ 2 , respectively.
+Added: For the three and six months ended June 30, 2025, the Company recognized amortization of $ 4 and $ 8 , respectively, and related tax benefits of $ 7 and $ 13 , respectively.
+Added: For the three and six months ended June 30, 2024, the Company recognized amortization of $ 1 and $ 2 , respectively, and related tax benefits of $ 3 and $ 5 , respectively.
The income tax credits and other income tax benefits are recognized in operating activities in the Condensed Consolidated Statement of Cash Flows.
−Removed: The carrying value of these investments, which are reported in other assets on the Company’s Condensed Consolidated Balance Sheets was $ 65 and $ 51 as of March 31, 2025, and December 31, 2024, respectively.
−Removed: As of March 31, 2025 and December 31, 2024, the Company has outstanding commitments related to affordable housing projects of $ 249 and $ 267 , respectively, that are contingent on various conditions precedent to funding.
+Added: The carrying value of these investments, which are reported in other assets on the Company’s Condensed Consolidated Balance Sheets was $ 84 and $ 51 as of June 30, 2025, and December 31, 2024, respectively.
+Added: As of June 30, 2025 and December 31, 2024, the Company has outstanding commitments related to affordable housing projects of $ 226 and $ 267 , respectively, that are contingent on various conditions precedent to funding.
In addition, the Company makes passive investments in structured securities issued by VIEs for which the Company is not the manager.
These investments are included in ABS, CLOs, CMBS, and RMBS and are reported in fixed maturities, AFS, and FVO securities on the Company's Condensed Consolidated Balance Sheets.
−Removed: The Company has not provided financial or other support with respect to these investments
−Removed: other than its original investment.
+Added: The Company has not provided financial or other support with respect to these investments other than its original investment.
For these investments, the Company determined it is not the primary beneficiary due to the relative size of the Company’s investment in comparison to the principal amount of the structured securities issued by the VIEs, the Company’s inability to direct the activities that most significantly impact the economic performance of the VIEs, and, where applicable, the level of credit subordination which reduces the Company’s obligation to absorb losses or right to receive benefits.
2 unchanged sentences
Collateral Transactions
−Removed: As of both March 31, 2025 and December 31, 2024, the Company pledged collateral of $ 1 , of U.S.
+Added: As of both June 30, 2025 and December 31, 2024, the Company pledged collateral of $ 1 , of U.S.
government securities or cash primarily related to certain bank loan participations committed through a limited partnership agreement.
7 unchanged sentences
The following table presents the components of the Company’s exposure to other restricted investments.
−Removed: March 31, 2025 December 31, 2024
+Added: June 30, 2025 December 31, 2024
Fair Value Fair Value
33 unchanged sentences
In addition, the Company enters into interest rate swaps to terminate existing swaps, thereby offsetting the changes in value of the original swap going forward.
−Removed: As of March 31, 2025 and December 31, 2024, the notional amount of interest rate swaps in offsetting relationships was $ 333 and $ 344 , respectively.
+Added: As of June 30, 2025 and December 31, 2024, the notional amount of interest rate swaps in offsetting relationships was $ 333 and $ 344 , respectively.
Foreign Currency Swaps
15 unchanged sentences
Notional Amount Fair Value Fair Value Fair Value
−Removed: Hedge Designation/ Derivative Type Mar 31, 2025 Dec.
−Removed: 31, 2024 Mar 31, 2025 Dec.
−Removed: 31, 2024 Mar 31, 2025 Dec.
−Removed: 31, 2024 Mar 31, 2025 Dec.
+Added: Hedge Designation/ Derivative Type Jun 30, 2025 Dec.
+Added: 31, 2024 Jun 30, 2025 Dec.
+Added: 31, 2024 Jun 30, 2025 Dec.
+Added: 31, 2024 Jun 30, 2025 Dec.
Cash flow hedges
29 unchanged sentences
Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Statement of Financial Position Derivative Assets [1] (Liabilities) [2] Accrued Interest and Cash Collateral (Received) [3] Pledged [2] Financial Collateral (Received) Pledged [4] Net Amount
−Removed: As of March 31, 2025
+Added: As of June 30, 2025
Other investments $ 55 $ 50 $ 35 $ ( 30 ) $ — $ 5
11 unchanged sentences
Gains (Losses) Recognized in OCI
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
Interest rate swaps $ 3 $ ( 4 ) $ 13 $ ( 21 )
2 unchanged sentences
Gains (Losses) Reclassified from AOCI into Income
−Removed: Three months ended March 31,
−Removed: Net Investment Income Interest Expense Net Investment Income Interest Expense
+Added: Three months ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
+Added: Net Investment Income Interest Expense Net Investment Income Interest Expense Net Investment Income Interest Expense Net Investment Income Interest Expense
Interest rate swaps $ ( 2 ) $ 3 $ ( 8 ) $ 5 $ ( 4 ) $ 6 $ ( 15 ) $ 9
5 unchanged sentences
Notes To Condensed Consolidated Financial Statements (continued)
−Removed: As of March 31, 2025, the before tax deferred net losses on derivative instruments recorded in AOCI that are expected to be reclassified to earnings during the next twelve months are $ 24 .
+Added: As of June 30, 2025, the before tax deferred net losses on derivative instruments recorded in AOCI that are expected to be reclassified to earnings during the next twelve months are $ 21 .
This expectation is based on the anticipated interest payments on hedged investments in fixed maturity securities and long-term debt that will occur over the next twelve months.
At that time, the Company will recognize the deferred net gains (losses) as an adjustment to net investment income or interest expense, as applicable, over the term of the hedged instrument cash flows.
−Removed: During the three months ended March 31, 2025 and 2024, the Company had no net reclassifications from AOCI to earnings resulting from the discontinuance of cash-flow hedges due to forecasted transactions that were no longer probable of occurring.
+Added: During the three and six months ended June 30, 2025 and 2024, the Company had no net reclassifications from AOCI to earnings resulting from the discontinuance of cash-flow hedges due to forecasted transactions that were no longer probable of occurring.
Non-qualifying Strategies
1 unchanged sentence
Non-Qualifying Strategies Recognized within Net Realized Gains (Losses)
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
Interest rate contracts
21 unchanged sentences
Amount [3] Offsetting
−Removed: As of March 31, 2025
+Added: As of June 30, 2025
Basket credit default swaps [4]
21 unchanged sentences
The Company enters into various collateral arrangements in connection with its derivative instruments, which require both the pledging and accepting of collateral.
−Removed: As of March 31, 2025 and December 31, 2024, the Company ha s pl edged cash collateral associated with derivative instruments of $ 23 and $ 31 , respectively .
+Added: As of June 30, 2025 and December 31, 2024, the Company ha s pl edged cash collateral associated with derivative instruments of $ 27 and $ 31 , respectively .
In general, collateral receivable is recorded in other assets or other liabilities on the Company's Condensed Consolidated Balance Sheets as determined by the Company's election to offset on the balance sheet.
−Removed: As of March 31, 2025 and December 31, 2024, the Company pledged securities collateral associated with derivative instruments with a fair value of $ 5 and $ 1 , respectively, which have been included in fixed maturities on the Company's Condensed Consolidated Balance Sheets.
+Added: As of June 30, 2025 and December 31, 2024, the Company pledged securities collateral associated with derivative instruments with a fair value of $ 23 and $ 1 , respectively, which have been included in fixed maturities on the Company's Condensed Consolidated Balance Sheets.
The counterparties generally have the right to sell or re-pledge these securities.
−Removed: In addition, as of March 31, 2025 and December 31, 2024, the Company has pledged initial margin of cash related to OTC-cleared and exchange traded derivatives with a fair value of $ 12 and $ 10 , respectively, which is recorded in other investments or other assets on the Company's Condensed Consolidated Balance Sheets.
−Removed: As of March 31, 2025 and December 31, 2024, the Company has pledged initial margin of securities related to OTC-cleared and exchange traded derivatives with a fair value of $ 107 and $ 103 , respectively, which are included within fixed maturities on the Company's Condensed Consolidated Balance Sheets.
−Removed: As of March 31, 2025 and December 31, 2024, the Company accepted cash collateral associated with derivative instruments of $ 62 and $ 78 , respectively, which was invested and recorded in the Company's Condensed Consolidated Balance Sheets in fixed maturities and short-term investments with corresponding amounts recorded in other investments or other liabilities as determined by the Company's election to offset on the balance sheet.
−Removed: Also, as of March 31, 2025 and December 31, 2024, the Company did no t hold securities collateral.
+Added: In addition, as of June 30, 2025 and December 31, 2024, the Company has pledged initial margin of cash related to OTC-cleared and exchange traded derivatives with a fair value of $ 12 and $ 10 , respectively, which is recorded in other investments or other assets on the Company's Condensed Consolidated Balance Sheets.
+Added: As of June 30, 2025 and December 31, 2024, the Company has pledged initial margin of securities related to OTC-cleared and exchange traded derivatives with a fair value of $ 104 and $ 103 , respectively, which are included within fixed maturities on the Company's Condensed Consolidated Balance Sheets.
+Added: As of June 30, 2025 and December 31, 2024, the Company accepted cash collateral associated with derivative instruments of $ 40 and $ 78 , respectively, which was invested and recorded in the Company's Condensed Consolidated Balance Sheets in fixed maturities and short-term investments with corresponding amounts recorded in other investments or other liabilities as determined by the Company's election to offset on the balance sheet.
+Added: Also, as of June 30, 2025 and December 31, 2024, the Company did no t hold securities collateral.
Note 7 - Premiums Receivable and Agents' Balances
3 unchanged sentences
Premiums Receivable and Agents' Balances
−Removed: As of March 31, 2025 As of December 31, 2024
+Added: As of June 30, 2025 As of December 31, 2024
Premiums receivable, excluding receivables for losses within a deductible and retrospectively-rated policy premiums ("loss sensitive business") $ 6,347 $ 5,624
26 unchanged sentences
Rollforward of ACL on Premiums Receivable and Agents' Balances for the Three Months Ended
−Removed: March 31, 2025 March 31, 2024
+Added: June 30, 2025 June 30, 2024
Receivables Excluding Receivables for Loss Sensitive Business Receivables for Loss Sensitive Business Total Receivables Excluding Receivables for Loss Sensitive Business Receivables for Loss Sensitive Business Total
4 unchanged sentences
Ending ACL $ 113 $ 22 $ 135 $ 95 $ 21 $ 116
−Removed: Note 8 - Reinsurance
+Added: Note 7 - Premiums Receivable and Agents' Balances
The Hartford Insurance Group, Inc.
Notes To Condensed Consolidated Financial Statements (continued)
+Added: Rollforward of ACL on Premiums Receivable and Agents' Balances for the Six Months Ended
+Added: June 30, 2025 June 30, 2024
+Added: Receivables Excluding Receivables for Loss Sensitive Business Receivables for Loss Sensitive Business Total Receivables Excluding Receivables for Loss Sensitive Business Receivables for Loss Sensitive Business Total
+Added: Beginning ACL $ 97 $ 20 $ 117 $ 89 $ 20 $ 109
+Added: Current period provision 47 2 49 30 1 31
+Added: Current period write-offs ( 35 ) — ( 35 ) ( 27 ) — ( 27 )
+Added: Current period recoveries 4 — 4 3 — 3
+Added: Ending ACL $ 113 $ 22 $ 135 $ 95 $ 21 $ 116
The Company cedes insurance risk to reinsurers to enable the Company to manage capital and risk exposure.
10 unchanged sentences
Reinsurance Recoverables by Credit Quality Indicator
−Removed: As of March 31, 2025 As of December 31, 2024
+Added: As of June 30, 2025 As of December 31, 2024
Employee Benefits
22 unchanged sentences
To manage reinsurer credit risk, a reinsurance security review committee evaluates the credit standing, financial performance, management and operational quality of each potential reinsurer.
−Removed: In placing reinsurance, the Company considers the nature of the risk reinsured, including the expected liability payout duration, and establishes limits tiered by reinsurer credit rating.
−Removed: Where its contracts permit, the Company secures future claim obligations with various forms of collateral or other credit enhancement, including irrevocable letters of credit, secured trusts, funds held accounts and group wide offsets.
+Added: reinsurance, the Company considers the nature of the risk reinsured, including the expected liability payout duration, and establishes limits tiered by reinsurer credit rating.
+Added: Where its contracts permit, the Company secures future claim obligations with various forms of collateral or other credit enhancement, including irrevocable letters of credit, secured
+Added: Note 8 - Reinsurance
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
+Added: trusts, funds held accounts and group wide offsets.
As part of its reinsurance recoverable review, the Company analyzes recent developments in commutation activity between reinsurers and cedants, recent trends in arbitration and litigation outcomes in disputes between cedants and reinsurers and the overall credit quality of the Company’s reinsurers.
6 unchanged sentences
Credit ratings are forward-looking and consider a variety of economic outcomes.
−Removed: Note 8 - Reinsurance
−Removed: The Hartford Insurance Group, Inc.
−Removed: Notes To Condensed Consolidated Financial Statements (continued)
given default factors are based on a study of historical recovery rates for general creditors of corporations through multiple economic cycles or, in the case of purchased annuities funding structured settlements accounted for as reinsurance, historical recovery rates for annuity contract holders.
1 unchanged sentence
Reinsurance recoverables due from pools are backed by the financial position of all insurance companies participating in the pools and the credit backing the reinsurance recoverable is not limited to the financial strength of each pool.
−Removed: The mandatory pools generally are funded through policy assessments or
−Removed: surcharges and if any participant in the pool defaults, remaining liabilities are apportioned among the other members.
+Added: The mandatory pools generally are funded through policy assessments or surcharges and if any participant in the pool defaults, remaining liabilities are apportioned among the other members.
The Company's evaluation of the required ACL for reinsurance recoverables considers the current economic environment as well as macroeconomic scenarios similar to the approach used to estimate the ACL for mortgage loans.
3 unchanged sentences
As a result, there is limited history of losses from insurer defaults.
−Removed: Allowance for Uncollectible Reinsurance for the Three Months Ended
−Removed: Three Months Ended March 31,
+Added: Allowance for Uncollectible Reinsurance for the Three and Six Months Ended
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
P&C beginning allowance for uncollectible reinsurance $ 72 $ 98 $ 72 $ 100
14 unchanged sentences
Rollforward of Liabilities for Unpaid Losses and Loss Adjustment Expenses
−Removed: For the three months ended March 31,
+Added: For the six months ended June 30,
Beginning liabilities for unpaid losses and loss adjustment expenses, gross $ 36,404 $ 34,044
13 unchanged sentences
Ending liabilities for unpaid losses and loss adjustment expenses, gross $ 37,358 $ 35,137
−Removed: [1] Prior accident year development for the three months ended March 31, 2025 and 2024 included a $ 32 and $ 24 benefit for amortization of a deferred gain under retroactive reinsurance accounting, respectively, related to the Navigators Adverse Development Cover (the "Navigator's ADC").
+Added: [1] Prior accident year development for the six months ended June 30, 2025 and 2024 included a $ 56 and $ 61 benefit for amortization of a deferred gain under retroactive reinsurance accounting, respectively, related to the Navigators Adverse Development Cover (the "Navigator's ADC").
For additional information regarding the ADC reinsurance agreement, refer to "Change in Deferred Gain on Retroactive Reinsurance" discussion below.
3 unchanged sentences
Unfavorable (Favorable) Prior Accident Year Development
−Removed: For the three months ended March 31,
+Added: For the six months ended June 30,
Workers’ compensation $ ( 126 ) $ ( 119 )
1 unchanged sentence
General liability — 49
+Added: Marine — ( 1 )
Package business — ( 1 )
1 unchanged sentence
Professional liability ( 11 ) ( 7 )
+Added: Bond ( 22 ) ( 22 )
Assumed reinsurance — 24
9 unchanged sentences
Total prior accident year development $ ( 309 ) $ ( 171 )
−Removed: [1] The $ 32 and $ 24 change in deferred gain on retroactive reinsurance for the three months ended March 31, 2025 and 2024, respectively, is related to amortization of the Navigators ADC deferred gain.
+Added: [1] The $ 56 and $ 61 change in deferred gain on retroactive reinsurance for the six months ended June 30, 2025 and 2024, respectively, is related to amortization of the Navigators ADC deferred gain.
For additional information regarding the ADC reinsurance agreement, refer to "Change in Deferred Gain on Retroactive Reinsurance" discussion below.
−Removed: Re-estimates of prior accident year reserves for the three months ended March 31, 2025
+Added: Re-estimates of prior accident year reserves for the six months ended June 30, 2025
Workers’ compensation reserves were decreased within the 2016 to 2021 accident years primarily in small business, driven by lower than previously estimated claim severity.
+Added: Commercial property reserves were decreased primarily within accident years 2023 and 2024 as a result of lower than expected severity.
+Added: Professional liability reserves were decreased due to favorable development on directors and officers ("D&O") claims driven by the 2020 to 2023 accident years, partially offset by deterioration in employment practices liability and errors and omissions ("E&O") claims across multiple accident years.
+Added: Bond reserves decreased due primarily to favorable development on commercial and contract surety bonds driven by accident years 2019 to 2021.
Personal automobile liability reserves were decreased primarily within accident years 2020 to 2023 as a result of lower than expected severity.
Homeowners reserves were decreased primarily due to favorable severity impacting accident year 2024.
+Added: Catastrophes reserves were decreased across Business Insurance and Personal Insurance primarily driven by a reduction in reserves in accident years 2021 to 2024, including favorable emergence related to various hail events.
Other reserve re-estimates, net, were decreased due to lower than expected severity on Personal Insurance automobile physical damage for accident year 2024, partially offset by unfavorable development from participation in involuntary market pools.
−Removed: Re-estimates of prior accident year reserves for the three months ended March 31, 2024
+Added: Re-estimates of prior accident year reserves for the six months ended June 30, 2024
Workers’ compensation reserves were decreased within the 2016 to 2020 accident years primarily in small business, driven by lower than previously estimated claim severity.
In addition, the 2020 accident year includes a $ 20 reduction of COVID-19 related reserves driven by favorable claim count emergence.
−Removed: General liability reserves were increased within the 2016 to 2019 accident years driven by higher frequency of large losses on individual claims of excess and umbrella coverages within middle & large business and deterioration in global specialty primary construction business.
−Removed: Marine reserves increased related to higher frequency of large losses on individual U.S.
−Removed: cargo claims for the 2023 accident year.
−Removed: Professional liability reserves decreased modestly due to favorable development on directors' and officers' ("D&O") claims driven by the 2020 accident year.
−Removed: Assumed reinsurance reserves were increased due to higher reserve estimates in the Latin America surety business related to the 2021 to 2023 accident years.
−Removed: Other reserve re-estimates, net, were decreased due to lower severity than expected on Personal Insurance automobile physical damage for accident year 2023, partially offset by unfavorable development from participation in involuntary market pools.
+Added: General liability reserves were increased primarily in response to higher frequency of large losses within certain lines in the 2016 to 2019 accident years, with some modest increases in the more recent accident years.
+Added: In addition, reserves for sexual molestation and sexual abuse claims were increased for older accident years.
+Added: Lastly, reserves for extra contractual liability claims and other miscellaneous run-off lines were reduced in response to recent favorable loss activity.
+Added: Professional liability reserves decreased modestly due to favorable development on D&O claims driven by the 2020 to 2022 accident years, partially offset by deterioration in older accident years.
+Added: Bond reserves decreased due to favorable development on commercial and contract surety driven by accident years 2019 and prior.
+Added: Assumed reinsurance reserves were increased due to higher reserve estimates in the Latin America surety and Latin America P&C businesses related to the 2020 to 2023 accident years.
+Added: Automobile liability reserves - Business Insurance increased primarily due to adverse loss development within accident year 2022 driven by higher severity than estimated.
+Added: Automobile liability reserves - Personal Insurance were decreased primarily in response to better than anticipated accident year 2023 claim severity for property damage liability.
+Added: Catastrophes reserves were decreased primarily within Business Insurance driven by a reduction in reserves in accident years 2021 to 2022 related to favorable emergence related to various hail events, as well as favorable development in accident year 2022 related to Hurricane Ian.
+Added: Other reserve re-estimates, net, included a decrease in reserves due to lower severity than expected on Personal
+Added: Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
+Added: Insurance automobile physical damage for accident year 2023, offset by an increase in reserves related to unfavorable development from participation in involuntary market pools.
Settlement Agreement with Boy Scouts of America
2 unchanged sentences
All conditions precedent to the Settlement have been satisfied, including approval by the bankruptcy court and the district court, and on April 20, 2023, The Hartford paid the Settlement amount of $ 787 .
−Removed: Certain objecting parties have appealed the district court’s ruling and that appeal is pending before the Third Circuit.
−Removed: If the court approvals for the BSA’s plan of reorganization are not affirmed on appeal, it is possible that adverse outcomes, if any, could have a material adverse effect on the Company’s operating results.
−Removed: Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses
−Removed: The Hartford Insurance Group, Inc.
−Removed: Notes To Condensed Consolidated Financial Statements (continued)
+Added: Certain objecting parties appealed the district court’s ruling.
+Added: As to issues material to The Hartford’s settlement, the Third Circuit has dismissed those appeals as moot.
+Added: The objecting parties' only remaining option is to petition by September 11, 2025, for U.S.
+Added: Supreme Court review.
+Added: If a petition is filed and the U.S.
+Added: Supreme Court agrees to hear the case, the court approvals for the BSA’s plan of reorganization could be open to challenge, and it is possible that adverse outcomes, if any, could have a material adverse effect on the Company’s operating results.
Change in Deferred Gain on Retroactive Reinsurance
The Company has in place an ADC reinsurance agreement that covered substantially all reserve development of Navigators Insurance Company and certain of its affiliates for 2018 and prior accident years (the “Navigators ADC”) up to an aggregate limit of $ 300 , for which the Company had previously ceded the available limit.
−Removed: During the three months ended March 31, 2025 and 2024, the Company collected recoveries from National
−Removed: Indemnity Company ("NICO"), a subsidiary of Berkshire Hathaway Inc., and as a result amortized $ 32 and $ 24 of the deferred gain within benefits, losses and loss adjustment expenses, respectively.
−Removed: As of March 31, 2025 and December 31, 2024, the deferred gain on the Navigators ADC was $ 32 and $ 64 , respectively, and is included in other liabilities on the Condensed Consolidated Balance Sheets.
+Added: The Company has collected recoveries from National Indemnity Company ("NICO"), a subsidiary of Berkshire Hathaway Inc., and as a result amortized $ 24 and $ 56 of the deferred gain within benefits, losses and loss adjustment expenses during the three and six months ended June 30, 2025, respectively, and amortized $ 37 and $ 61 during the three and six months ended June 30, 2024, respectively.
+Added: As of June 30, 2025 and December 31, 2024, the deferred gain on the Navigators ADC was $ 8 and $ 64 , respectively, and is included in other liabilities on the Condensed Consolidated Balance Sheets.
Group Life, Disability and Accident Products
Rollforward of Liabilities for Unpaid Losses and Loss Adjustment Expenses
−Removed: For the three months ended March 31,
+Added: For the six months ended June 30,
Beginning liabilities for unpaid losses and loss adjustment expenses, gross $ 8,206 $ 8,274
13 unchanged sentences
[1] Prior incurral year development represents the change in estimated ultimate incurred losses and loss adjustment expenses for prior incurral years on a discounted basis.
−Removed: [2] Includes unallocated loss adjustment expenses ("ULAE") of $ 44 and $ 45 for the three months ended March 31, 2025 and 2024, respectively, that are recorded in insurance operating costs and other expenses in the Condensed Consolidated Statements of Operations .
−Removed: Re-estimates of prior incurral years reserves for the three months ended March 31, 2025
−Removed: Group disability - Prior period reserve estimates decreased by approximately $ 156 largely driven by strong long-term disability claim recoveries.
−Removed: Group life and accident (including group life premium waiver) - Prior period reserve estimates decreased by approximately $ 39 largely driven by favorable mortality emergence and continued low incidence in group life premium waiver.
−Removed: Re-estimates of prior incurral years reserves for the three months ended March 31, 2024
−Removed: Group disability- Prior period reserve estimates decreased by approximately $ 149 largely driven by group long-term disability claim incidence lower than prior assumptions and strong recoveries on prior incurral year claims.
−Removed: Group life and accident (including group life premium waiver)- Prior period reserve estimates decreased by approximately $ 37 largely driven by favorable mortality emergence and continued low incidence in group life premium waiver.
−Removed: Supplemental Accident & Health- Prior period reserve estimates decreased by approximately $ 3 driven by lower than previously expected claim incidence.
−Removed: Note 10 - Reserve for Future Policy Benefits
+Added: [2] Includes unallocated loss adjustment expenses ("ULAE") of $ 88 and $ 92 for the six months ended June 30, 2025 and 2024, respectively, that are recorded in insurance operating costs and other expenses in the Condensed Consolidated Statements of Operations .
+Added: Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses
The Hartford Insurance Group, Inc.
Notes To Condensed Consolidated Financial Statements (continued)
+Added: Re-estimates of prior incurral years reserves for the six months ended June 30, 2025
+Added: Group disability - Prior period reserve estimates decreased by approximately $ 307 driven by strong long-term disability claim recoveries, paid family medical leave incidence lower than prior assumptions, as well as a higher New York paid family leave risk adjustment benefit than expected.
+Added: Group life and accident (including group life premium waiver) - Prior period reserve estimates decreased by approximately $ 69 driven by favorable mortality emergence in both group term life and group accidental death and dismemberment, and continued low incidence in group life premium waiver.
+Added: Re-estimates of prior incurral years reserves for the six months ended June 30, 2024
+Added: Group disability- Prior period reserve estimates decreased by approximately $ 282 largely driven by group long-term disability claim incidence lower than prior assumptions and favorable recoveries on prior incurral year claims, as well as a higher New York paid family leave risk adjustment benefit than expected.
+Added: Group life and accident (including group life premium waiver)- Prior period reserve estimates decreased by approximately $ 56 largely driven by favorable mortality emergence and continued low incidence in group life premium waiver.
Reserve for Future Policy Benefits
Rollforward of Reserve for Future Policy Benefits
−Removed: For the three months ended March 31,
+Added: For the six months ended June 30,
Payout Annuities Life Conversions Paid-up Life Payout Annuities Life Conversions Paid-up Life
17 unchanged sentences
Net Reserve for Future Policy Benefits
−Removed: As of March 31,
+Added: As of June 30,
Payout Annuities $ 124 $ 129
3 unchanged sentences
Total $ 443 $ 464
+Added: Note 10 - Reserve for Future Policy Benefits
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
Undiscounted Expected Future Gross Premiums and Benefit Payments
−Removed: As of March 31,
+Added: As of June 30,
Payout Annuities [1]
6 unchanged sentences
[1] Payout Annuities and Paid-up Life have no expected future gross premiums.
−Removed: Note 10 - Reserve for Future Policy Benefits
−Removed: The Hartford Insurance Group, Inc.
−Removed: Notes To Condensed Consolidated Financial Statements (continued)
Weighted-Average Interest Rates
−Removed: As of March 31,
+Added: As of June 30,
Payout Annuities
6 unchanged sentences
Current discount rate 5.0 % 5.4 %
−Removed: Gross premiums and interest accretion recognized on long-duration insurance policies for the three months ended March 31, 2025 and 2024 were immaterial.
+Added: Gross premiums and interest accretion recognized on long-duration insurance policies for the six months ended June 30, 2025 and 2024 were immaterial.
Other Policyholder Funds and Benefits Payable
−Removed: Other policyholder funds and benefits payable of $ 611 and $ 633 as of March 31, 2025 and 2024 respectively, included universal life long-duration contacts of $ 202 and $ 218 as well as policyholder balances related to short-duration contracts of $ 409
−Removed: The universal life long-duration contacts presented in the table below were economically ceded to Prudential as part of the sale of the Company's former individual life business, which closed in 2013.
+Added: Other policyholder funds and benefits payable of $ 612 and $ 622 as of June 30, 2025 and 2024 respectively, included universal life long-duration contracts of $ 201 and $ 210 as well as policyholder balances related to short-duration contracts of $ 411
+Added: The universal life long-duration contracts presented in the table below were economically ceded to Prudential as part of the sale of the Company's former individual life business, which closed in 2013.
Universal Life Long Duration Contracts Rollforward
−Removed: For the three months ended March 31,
+Added: For the six months ended June 30,
Balance, beginning of the period $ 206 $ 223
9 unchanged sentences
[1] Net amount at risk is defined as the current death benefit in excess of the current account value as of the balance sheet date.
−Removed: As of March 31, 2025 and 2024, universal life contracts of $ 201 and $ 217 , respectively, had crediting rates at their guaranteed minimums ranging from 4 %- 5 % .
+Added: As of June 30, 2025 and 2024, universal life contracts of $ 199 and $$ 209 , respectively, had crediting rates at their guaranteed minimums ranging from 4 %- 5 % .
Note 12 - Income Taxes
3 unchanged sentences
Income Tax Rate Reconciliation
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
Tax provision at U.S.
1 unchanged sentence
Nontaxable net investment income ( 9 ) ( 11 ) ( 14 ) ( 22 )
−Removed: Decrease in deferred tax valuation allowance — ( 12 )
−Removed: Stock-based compensation, net ( 12 ) ( 16 )
+Added: Other ( 1 ) ( 7 ) ( 8 ) ( 29 )
Provision for income taxes $ 251 $ 174 $ 404 $ 332
1 unchanged sentence
Rollforward of Unrecognized Tax Benefits
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2025 2024 2025 2024
Balance, beginning of period $ 24 $ 27 $ 24 $ 26
4 unchanged sentences
Other Tax Matters
+Added: H.R.1 , known as the “One Big Beautiful Bill Act” was signed into law on July 4, 2025.
+Added: This comprehensive budget reconciliation package consolidates a wide array of public policy priorities, reshaping federal policy across numerous sectors of the American economy, including taxation, healthcare, social safety nets, immigration, and education.
+Added: The changes in H.R.1 are not expected to have a material impact on the Company's results of operations.
The federal statute of limitations for the Company is closed through the 2020 tax year with the exception of net operating loss carryforwards utilized in open tax years and the Navigators pre-acquisition 2019 tax period.
43 unchanged sentences
The Company supplements this exposure-based analysis with evaluations of the Company’s historical direct net loss and expense paid and reported experience, and net loss and expense paid and reported experience by calendar and/or report year, to assess any emerging trends, fluctuations or characteristics suggested by the aggregate paid and reported activity.
−Removed: For its Run-off A&E claims, as of March 31, 2025, the Company reported $ 181 of net A&E reserves, including the benefit of losses ceded to the A&E ADC with NICO.
+Added: For its Run-off A&E claims, as of June 30, 2025, the Company reported $ 141 of net A&E reserves, including the benefit of losses ceded to the A&E ADC with NICO.
In addition, the Company has recorded a $ 850 deferred gain within other liabilities for losses economically ceded to NICO but for which the benefit is not recognized in earnings until later periods.
3 unchanged sentences
The A&E ADC has a coverage limit of $ 1.5 billion above the Company’s existing net A&E reserves as of December 31, 2016 of approximately $ 1.7 billion.
−Removed: As of March 31, 2025 , the Company has incurred $ 1.5 billion in cumulative adverse development on A&E reserves that have been ceded under the A&E ADC treaty, leaving no remaining coverage available for future adverse net reserve development, if any.
+Added: As of June 30, 2025 , the Company has incurred $ 1.5 billion in cumulative adverse development on A&E reserves that have been ceded under the A&E ADC treaty, leaving no remaining coverage available for future adverse net reserve development, if any.
Cumulative adverse development of A&E claims for accident years 2016 and prior in excess of the treaty limit are absorbed as a charge to earnings by the Company.
10 unchanged sentences
increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity.
−Removed: The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of March 31, 2025 was $ 33 for which the legal entities have posted collateral of $ 28 in the normal course of business.
−Removed: Based on derivative contractual terms as of March 31, 2025, a downgrade of the current financial strength ratings by either Moody's or S&P would no t require additional assets to be posted as collateral.
+Added: The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of June 30, 2025 was $ 57 for which the legal entities have posted collateral of $ 50 in the normal course of business.
+Added: Based on derivative contractual terms as of June 30, 2025, a downgrade of the current financial strength ratings by either Moody's or S&P would no t require additional assets to be posted as collateral.
This requirement could change as a result of changes in our hedging activities or to the extent changes in contractual terms are negotiated.
3 unchanged sentences
Equity Repurchase Program
−Removed: During the three months ended March 31, 2025 and 2024, the Company repurchased $ 400 ( 3.5 million shares) and $ 350 ( 3.8 million shares), respectively, of common stock under Board authorized share repurchase programs covering the applicable periods.
−Removed: As of March 31, 2025, the Company has $ 2.75 billion remaining for equity repurchases under the current $ 3.3 billion share repurchase program, which is effective until December 31, 2026.
−Removed: During the period April 1, 2025 through April 23, 2025,
+Added: During the six months ended June 30, 2025 and 2024, the Company repurchased $ 800 ( 6.8 million shares) and $ 700 ( 7.3 million shares), respectively, of common stock under Board authorized share repurchase programs covering the applicable periods.
+Added: As of June 30, 2025, the Company has $ 2.35 billion remaining for equity repurchases under the current $ 3.3 billion share repurchase program, which is effective until December 31, 2026.
+Added: During the period July 1, 2025 through July 25, 2025,
the Company repurchased $ 146 ( 1.2 million common shares) under this repurchase program.
1 unchanged sentence
Changes In and Reclassifications From Accumulated Other Comprehensive Income (Loss)
−Removed: Changes in AOCI, Net of Tax for the Three Months Ended March 31, 2025
+Added: Changes in AOCI, Net of Tax for the Three Months Ended June 30, 2025
Net Unrealized Gain (Loss) on Fixed Maturities, AFS Unrealized Losses on Fixed Maturities, AFS with ACL Net Gain (Loss) on Cash Flow Hedging Instruments Foreign Currency Translation Adjustments Liability for Future Policy Benefits Adjustments Pension and Other Postretirement Plan Adjustments AOCI,
9 unchanged sentences
Notes To Condensed Consolidated Financial Statements (continued)
+Added: Changes in AOCI, Net of Tax for the Six Months Ended June 30, 2025
+Added: Net Unrealized Gain (Loss) on Fixed Maturities, AFS Unrealized Losses on Fixed Maturities, AFS with ACL Net Gain (Loss) on Cash Flow Hedging Instruments Foreign Currency Translation Adjustments Liability for Future Policy Benefits Adjustments Pension and Other Postretirement Plan Adjustments AOCI,
+Added: Beginning balance $ ( 1,539 ) $ ( 6 ) $ 40 $ 29 $ 33 $ ( 1,443 ) $ ( 2,886 )
+Added: OCI before reclassifications 610 1 ( 36 ) 20 ( 5 ) — 590
+Added: Amounts reclassified from AOCI 36 — ( 7 ) — — 16 45
+Added: OCI, before tax 646 1 ( 43 ) 20 ( 5 ) 16 635
+Added: Income tax benefit (expense) ( 136 ) — 9 ( 4 ) 1 ( 3 ) ( 133 )
+Added: OCI, net of tax 510 1 ( 34 ) 16 ( 4 ) 13 502
+Added: Ending balance $ ( 1,029 ) $ ( 5 ) $ 6 $ 45 $ 29 $ ( 1,430 ) $ ( 2,384 )
Reclassifications from AOCI
−Removed: Three Months Ended March 31, 2025 Affected Line Item in the Condensed Consolidated Statement of Operations
+Added: Three Months Ended June 30, 2025 Six Months Ended June 30, 2025 Affected Line Item in the Condensed Consolidated Statement of Operations
Net Unrealized Gain (Loss) on Fixed Maturities, AFS
−Removed: Fixed Maturities, AFS $ ( 10 ) Net realized gains (losses)
+Added: Fixed Maturities, AFS $ ( 26 ) $ ( 36 ) Net realized losses
( 26 ) ( 36 ) Total before tax
15 unchanged sentences
Total amounts reclassified from AOCI $ ( 25 ) $ ( 35 ) Net income
−Removed: Changes in AOCI, Net of Tax for the Three Months Ended March 31, 2024
+Added: Changes in AOCI, Net of Tax for the Three Months Ended June 30, 2024
Net Unrealized Gain (Loss) on Fixed Maturities, AFS Unrealized Losses on Fixed Maturities, AFS with ACL Net Gain (Loss) on Cash Flow Hedging Instruments Foreign Currency Translation Adjustments Liability for Future Policy Benefits Adjustments Pension and Other Postretirement Plan Adjustments AOCI,
9 unchanged sentences
Notes To Condensed Consolidated Financial Statements (continued)
+Added: Changes in AOCI, Net of Tax for the Six Months Ended June 30, 2024
+Added: Net Unrealized Gain (Loss) on Fixed Maturities, AFS Unrealized Losses on Fixed Maturities, AFS with ACL Net Gain (Loss) on Cash Flow Hedging Instruments Foreign Currency Translation Adjustments Liability for Future Policy Benefits Adjustments Pension and Other Postretirement Plan Adjustments AOCI,
+Added: Beginning balance $ ( 1,482 ) $ ( 8 ) $ 21 $ 37 $ 25 $ ( 1,442 ) $ ( 2,849 )
+Added: OCI before reclassifications ( 393 ) 1 11 ( 3 ) 13 1 ( 370 )
+Added: Amounts reclassified from AOCI 77 — — — — 16 93
+Added: OCI, before tax ( 316 ) 1 11 ( 3 ) 13 17 ( 277 )
+Added: Income tax benefit (expense) 66 — ( 2 ) 1 ( 3 ) ( 4 ) 58
+Added: OCI, net of tax ( 250 ) 1 9 ( 2 ) 10 13 ( 219 )
+Added: Ending balance $ ( 1,732 ) $ ( 7 ) $ 30 $ 35 $ 35 $ ( 1,429 ) $ ( 3,068 )
Reclassifications from AOCI
−Removed: Three Months Ended March 31, 2024 Affected Line Item in the Condensed Consolidated Statement of Operations
+Added: Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Affected Line Item in the Condensed Consolidated Statement of Operations
Net Unrealized Gain (Loss) on Fixed Maturities, AFS
−Removed: Fixed Maturities, AFS $ ( 7 ) Net realized gains
+Added: Fixed Maturities, AFS $ ( 70 ) $ ( 77 ) Net realized losses
( 70 ) ( 77 ) Total before tax
15 unchanged sentences
Total amounts reclassified from AOCI $ ( 62 ) $ ( 74 ) Net income
+Added: Note 16 - Employee Benefit Plans
+Added: The Hartford Insurance Group, Inc.
+Added: Notes To Condensed Consolidated Financial Statements (continued)
Employee Benefit Plans
7 unchanged sentences
Pension Benefits Other Postretirement Benefits
−Removed: Three Months Ended March 31, Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30, Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024 2025 2024 2025 2024
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.