HARTFORD INSURANCE GROUP, INC. 10-Q

Item 1. Financial Statements Report of Independent Registered Public Accounting Firm To the Board of Directors and Stockholders of The Hartford Insurance Group, Inc. Hartford, Connecticut Results of Review of Interim Financial Information We have reviewed the accompanying condensed consolidated balance sheet of The Hartford Insurance Group, Inc. and subsidiaries (the "Company") as of March 31, 2026, 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, 2026 and 2025 , 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. We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of December 31, 2025, and the related consolidated statements of operations, comprehensive income (loss), changes in stockholders' equity, and cash flows for the year then ended (not presented herein); and in our report dated February 20, 2026, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheet as of December 31, 2025, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived. Basis for Review Results This interim financial information is the responsibility of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our reviews in accordance with standards of the PCAOB. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. /s/ Deloitte & Touche LLP Hartford, Connecticut April 23, 2026 6 Table of Contents Th e Hartford Insurance Grou p, Inc. Condensed Consolidated Statements of Operations Three Months Ended March 31, 2026 2025 (in millions, except for per share data) (Unaudited) Revenues Earned premiums $ 6,145 $ 5,835 Fee income 370 346 Net investment income 739 656 Net realized losses ( 55 ) ( 49 ) Other revenues 27 22 Total revenues 7,226 6,810 Benefits, losses and expenses Benefits, losses and loss adjustment expenses 3,998 4,000 Amortization of deferred policy acquisition costs ("DAC") 656 607 Insurance operating costs and other expenses 1,447 1,352 Interest expense 50 50 Amortization of other intangible assets 18 18 Total benefits, losses and expenses 6,169 6,027 Income before income taxes 1,057 783 Income tax expense 201 153 Net income 856 630 Preferred stock dividends 5 5 Net income available to common stockholders $ 851 $ 625 Net income available to common stockholders per common share Basic $ 3.08 $ 2.18 Diluted $ 3.04 $ 2.15 See Notes to Condensed Consolidated Financial Statements. 7 Table of Contents The Hartford Insurance Group, Inc. Condensed Consolidated Statements of Comprehensive Income (Loss) Three Months Ended March 31, 2026 2025 (in millions) (Unaudited) Net income $ 856 $ 630 Other comprehensive income (loss) ("OCI"): Change in net unrealized gain (loss) on fixed maturities, available-for-sale ("AFS") ( 370 ) 302 Change in net gain (loss) on cash flow hedging instruments ( 3 ) — Change in foreign currency translation adjustments 1 — Change in liability for future policy benefits adjustments 4 ( 3 ) Change in pension and other postretirement plan adjustments 9 7 OCI, net of tax ( 359 ) 306 Comprehensive income $ 497 $ 936 See Notes to Condensed Consolidated Financial Statements. 8 Table of Contents The Hartford Insurance Group, Inc. Condensed Consolidated Balance Sheets March 31, 2026 December 31, 2025 (in millions, except for share and per share data) (Unaudited) Assets Investments: Fixed maturities, AFS, at fair value (amortized cost of $ 46,929 and $ 46,871 , and allowance for credit losses ("ACL") of $ 16 and $ 16 ) $ 45,632 $ 46,041 Fixed maturities, at fair value using the fair value option ("FVO Securities") 130 168 Equity securities, at fair value 488 492 Mortgage loans (net of ACL of $ 49 and $ 49 ) 7,015 6,837 Limited partnerships and other alternative investments 5,948 5,804 Other investments 305 262 Short-term investments 4,223 4,353 Total investments 63,741 63,957 Cash 166 133 Restricted cash 54 44 Accrued investment income 480 474 Premiums receivable and agents' balances (net of ACL of $ 153 and $ 142 ) 6,729 6,316 Reinsurance recoverables (net of allowance for uncollectible reinsurance of $ 71 and $ 69 ) 7,076 7,191 Deferred policy acquisition costs 1,394 1,347 Deferred income taxes, net 922 901 Goodwill 1,911 1,911 Property and equipment, net 923 931 Other intangible assets, net 549 566 Other assets 2,377 2,226 Total assets $ 86,322 $ 85,997 Liabilities Unpaid losses and loss adjustment expenses $ 46,723 $ 46,268 Reserve for future policy benefits 451 444 Other policyholder funds and benefits payable 612 612 Unearned premiums 10,451 10,053 Long-term debt 4,372 4,371 Other liabilities 4,824 5,270 Total liabilities 67,433 67,018 Commitments and Contingencies (Note 13) Stockholders’ Equity Preferred stock, $ 0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at March 31, 2026 and December 31, 2025, aggregate liquidation preference of $ 345 334 334 Common stock, $ 0.01 par value — 1,500,000,000 shares authorized, 326,960,228 shares issued at March 31, 2026 and December 31, 2025 3 3 Additional paid-in capital 487 549 Retained earnings 25,424 24,739 Treasury stock, at cost 52,058,667 and 50,036,826 shares ( 4,943 ) ( 4,589 ) Accumulated other comprehensive income (loss) ("AOCI"), net of tax ( 2,416 ) ( 2,057 ) Total stockholders’ equity 18,889 18,979 Total liabilities and stockholders’ equity $ 86,322 $ 85,997 See Notes to Condensed Consolidated Financial Statements. 9 Table of Contents The Hartford Insurance Group, Inc. Condensed Consolidated Statements of Changes in Stockholders' Equity Three Months Ended March 31, 2026 2025 (in millions, except for share and per share data) (Unaudited) Preferred Stock $ 334 $ 334 Common Stock 3 3 Additional Paid-in Capital Additional Paid-in Capital, beginning of period 549 578 Issuance of shares under incentive and stock compensation plans and other ( 144 ) ( 130 ) Stock-based compensation plans expense 82 76 Additional Paid-in Capital, end of period 487 524 Retained Earnings Retained Earnings, beginning of period 24,739 21,531 Net income 856 630 Dividends declared on preferred stock ( 5 ) ( 5 ) Dividends declared on common stock ( 166 ) ( 149 ) Retained Earnings, end of period 25,424 22,007 Treasury Stock, at cost Treasury Stock, at cost, beginning of period ( 4,589 ) ( 3,113 ) Treasury stock acquired ( 455 ) ( 404 ) Issuance of shares under incentive and stock compensation plans from treasury stock and other 173 140 Net shares acquired related to employee incentive and stock compensation plans ( 72 ) ( 67 ) Treasury Stock, at cost, end of period ( 4,943 ) ( 3,444 ) Accumulated Other Comprehensive Income (Loss), net of tax Accumulated Other Comprehensive Income (Loss), net of tax, beginning of period ( 2,057 ) ( 2,886 ) Total other comprehensive income (loss) ( 359 ) 306 Accumulated Other Comprehensive Income (Loss), net of tax, end of period ( 2,416 ) ( 2,580 ) Total Stockholders’ Equity $ 18,889 $ 16,844 Preferred Shares Outstanding 13,800 13,800 Common Shares Outstanding (in thousands) Common Shares Outstanding, beginning of period 276,923 287,556 Treasury stock acquired ( 3,297 ) ( 3,515 ) Issuance of shares under incentive and stock compensation plans and other 1,777 1,655 Return of shares under incentive and stock compensation plans to treasury stock ( 501 ) ( 592 ) Common Shares Outstanding, at end of period 274,902 285,104 Cash dividends declared per common share $ 0.600 $ 0.520 Cash dividends declared per preferred share $ 375.00 $ 375.00 See Notes to Condensed Consolidated Financial Statements. 10 Table of Contents The Hartford Insurance Group, Inc. Condensed Consolidated Statements of Cash Flows Three Months Ended March 31, (in millions) 2026 2025 Operating Activities (Unaudited) Net income $ 856 $ 630 Adjustments to reconcile net income to net cash provided by operating activities: Net realized losses 55 49 Amortization of deferred policy acquisition costs 656 607 Additions to deferred policy acquisition costs ( 703 ) ( 655 ) Depreciation and amortization 108 92 Other operating activities, net 108 115 Change in assets and liabilities: Decrease (increase) in reinsurance recoverables 118 ( 50 ) Net change in accrued and deferred income taxes 127 104 Increase in insurance liabilities 862 1,115 Net change in premiums receivable and agents' balances ( 445 ) ( 414 ) Net change in other assets and other liabilities ( 697 ) ( 608 ) Net cash provided by operating activities 1,045 985 Investing Activities Proceeds from the sale/maturity/prepayment of: Fixed maturities, AFS 2,611 2,126 FVO securities — 25 Equity securities, at fair value 3 35 Mortgage loans 338 237 Limited partnership and other alternative investments 67 56 Payments for the purchase of: Fixed maturities, AFS ( 2,674 ) ( 3,171 ) FVO securities ( 1 ) ( 4 ) Equity securities, at fair value ( 42 ) ( 12 ) Mortgage loans ( 508 ) ( 197 ) Limited partnership and other alternative investments ( 214 ) ( 177 ) Net proceeds from (payments for) derivatives ( 18 ) 12 Net additions of property and equipment ( 31 ) ( 38 ) Net proceeds from short-term investments 162 731 Other investing activities, net ( 25 ) ( 24 ) Net cash used for investing activities ( 332 ) ( 401 ) Financing Activities Deposits and other additions to investment and universal life-type contracts 33 27 Withdrawals and other deductions from investment and universal life-type contracts ( 35 ) ( 26 ) Net return of shares under incentive and stock compensation plans, including related excise tax benefit ( 39 ) ( 54 ) Treasury stock acquired, including related excise tax paid ( 450 ) ( 400 ) Dividends paid on preferred stock ( 5 ) ( 5 ) Dividends paid on common stock ( 167 ) ( 150 ) Net cash used for financing activities ( 663 ) ( 608 ) Foreign exchange rate effect on cash ( 7 ) 6 Net increase (decrease) in cash and restricted cash 43 ( 18 ) Cash and restricted cash – beginning of period 177 234 Cash and restricted cash– end of period $ 220 $ 216 Supplemental Disclosure of Cash Flow Information Interest paid $ 60 $ 61 See Notes to Condensed Consolidated Financial Statements. 11 Table of Contents Note 1 - Basis of Presentation and Significant Accounting Policies The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (Dollar amounts in millions, except for per share data, unless otherwise stated) (Unaudited) 1. Basis of Presentation and Significant Accounting Policies Basis of Presentation The Hartford Insurance Group, Inc. is a holding company for insurance and financial services subsidiaries that provide property and casualty insurance, employee group benefits insurance and services, and mutual funds and exchange-traded funds ("ETF") to individual and business customers in the United States as well as in the United Kingdom and other international locations (collectively, “The Hartford”, the “Company”, “we” or “our”). The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, which differ materially from the accounting practices prescribed by various insurance regulatory authorities. These Condensed Consolidated Financial Statements and Notes should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company's 2025 Form 10-K Annual Report. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year. The accompanying Condensed Consolidated Financial Statements and Notes are unaudited. These financial statements reflect all adjustments (generally consisting only of normal accruals) which are, in the opinion of management, necessary for the fair statement of the financial position, results of operations and cash flows for the interim periods. Consolidation The Condensed Consolidated Financial Statements include the accounts of The Hartford Insurance Group, Inc., and entities in which the Company directly or indirectly has a controlling financial interest. Entities in which the Company has significant influence over the operating and financing decisions but does not control are reported using the equity method. Intercompany transactions and balances between The Hartford and its subsidiaries and affiliates have been eliminated. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining property and casualty and group long-term disability ("LTD") insurance product reserves, net of reinsurance; evaluation of goodwill for impairment; valuation of investments and derivative instruments; and contingencies relating to corporate litigation and regulatory matters. 12 Table of Contents Note 2 - Earnings Per Common Share The Hartford Insu ran ce Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 2. Earnings Per Common Share Computation of Basic and Diluted Earnings per Common Share Three Months Ended March 31, (In millions, except for per share data) 2026 2025 Earnings Net income $ 856 $ 630 Less: Preferred stock dividends 5 5 Net income available to common stockholders $ 851 $ 625 Shares Weighted average common shares outstanding, basic 276.1 286.6 Dilutive effect of stock-based awards under compensation plans 3.8 4.2 Weighted average common shares outstanding and dilutive potential common shares 279.9 290.8 Net income available to common stockholders per common share Basic $ 3.08 $ 2.18 Diluted $ 3.04 $ 2.15 3. Segment Information The Company currently conducts business principally in five reportable segments including Business Insurance, Personal Insurance, Property & Casualty ("P&C") Other Operations, Employee Benefits and Hartford Funds, as well as a Corporate category. 13 Table of Contents Note 3 - Segment Information The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Segment Revenues Three Months Ended March 31, 2026 2025 Business Insurance Workers’ compensation $ 921 $ 918 General liability 641 584 Marine 72 69 Package business 706 619 Commercial property 372 339 Professional liability 215 206 Bond 83 85 Assumed reinsurance 230 220 Commercial automobile 344 295 Business Insurance earned premium and fee income 3,584 3,335 Net investment income 505 437 Net realized losses ( 19 ) ( 24 ) Other revenue [1] — 1 Total Business Insurance 4,070 3,749 Personal Insurance Personal automobile 598 624 Homeowners 317 283 Personal Insurance earned premium and fee income [2] 915 907 Net investment income 62 57 Net realized losses ( 4 ) ( 2 ) Other revenue 22 20 Total Personal Insurance 995 982 P&C Other Operations Net investment income 20 18 Net realized losses ( 1 ) — Total P&C Other Operations 19 18 Employee Benefits Group disability 927 900 Group life 661 650 Other 135 118 Employee Benefits premium and other considerations 1,723 1,668 Net investment income 131 126 Net realized losses ( 11 ) ( 4 ) Total Employee Benefits 1,843 1,790 Hartford Funds Mutual fund and ETF 266 242 Third-party life and annuity separate accounts [3] 17 18 Hartford Funds fee income 283 260 Net investment income 5 4 Net realized losses ( 3 ) — Total Hartford Funds 285 264 Total segment revenues $ 7,212 $ 6,803 [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. [2] For the three months ended March 31, 2026 and 2025, AARP members accounted for earned premiums of $ 806 and $ 822 , 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. 14 Table of Contents Note 3 - Segment Information The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Significant Segment Expenses Three Months Ended March 31, 2026 2025 Business Insurance Current accident year losses and loss adjustment expenses ("LAE") before catastrophes $ 2,044 $ 1,891 Current accident year catastrophe losses and LAE 171 280 Prior accident year development of losses and LAE 30 ( 83 ) Amortization of DAC 577 531 Insurance operating costs 558 512 Amortization of other intangible assets 7 7 Dividends to policyholders 12 10 Total Business Insurance 3,399 3,148 Personal Insurance Current accident year losses and LAE before catastrophes 526 563 Current accident year catastrophe losses and LAE 59 187 Prior accident year development of losses and LAE ( 35 ) ( 39 ) Amortization of DAC 71 68 Insurance operating costs 180 182 Amortization of other intangible assets 1 1 Total Personal Insurance 802 962 P&C Other Operations Prior accident year development of losses and LAE ( 36 ) — Insurance operating costs 2 2 Total P&C Other Operations ( 34 ) 2 Employee Benefits Group disability losses 674 621 Group life losses 488 519 Group losses - other 76 59 Amortization of DAC 8 8 Insurance operating costs and other expenses 439 406 Amortization of other intangible assets 10 10 Total Employee Benefits 1,695 1,623 Hartford Funds Sub-advisory expense 83 73 Employee compensation and benefits 38 39 Distribution and service 74 73 General, administrative and other 28 24 Total Hartford Funds 223 209 Total significant segment expenses $ 6,085 $ 5,944 15 Table of Contents Note 3 - Segment Information The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Segment/Category Summary For the Three Months Ended March 31, 2026 Reportable Segments Business Insurance Personal Insurance P&C Other Operations Employee Benefits Hartford Funds Total Reportable Segments Corporate Consolidated Earned premium and fee income from external customers $ 3,584 $ 915 $ — $ 1,723 $ 283 $ 6,505 $ 10 $ 6,515 Net investment income 505 62 20 131 5 723 16 739 Net realized losses ( 19 ) ( 4 ) ( 1 ) ( 11 ) ( 3 ) ( 38 ) ( 17 ) ( 55 ) Other revenue [1] — 22 — — — 22 5 27 Total Revenues 4,070 995 19 1,843 285 7,212 14 7,226 Significant segment expenses 3,399 802 ( 34 ) 1,695 223 6,085 6,085 Other segment expenses (income) [2] ( 1 ) 19 — — — 18 18 Corporate expenses 66 66 Income tax expense (benefit) 136 35 11 30 13 225 ( 24 ) 201 Net income (loss) $ 536 $ 139 $ 42 $ 118 $ 49 $ 884 $ ( 28 ) $ 856 Other segment disclosures: Amortization of DAC $ 577 $ 71 $ — $ 8 $ — $ 656 $ — $ 656 Amortization of other intangibles $ 7 $ 1 $ — $ 10 $ — $ 18 $ — $ 18 Segment/Category Summary For the Three Months Ended March 31, 2025 Reportable Segments Business Insurance Personal Insurance P&C Other Operations Employee Benefits Hartford Funds Total Reportable Segments Corporate Consolidated Earned premium and fee income from external customers $ 3,335 $ 907 $ — $ 1,668 $ 260 $ 6,170 $ 11 $ 6,181 Net investment income 437 57 18 126 4 642 14 656 Net realized losses ( 24 ) ( 2 ) — ( 4 ) — ( 30 ) ( 19 ) ( 49 ) Other revenue [1] 1 20 — — — 21 1 22 Total Revenues 3,749 982 18 1,790 264 6,803 7 6,810 Significant segment expenses 3,148 962 2 1,623 209 5,944 5,944 Other segment expenses [2] 2 15 — — — 17 17 Corporate expenses 66 66 Income tax expense (benefit) 122 — 3 34 12 171 ( 18 ) 153 Net income (loss) $ 477 $ 5 $ 13 $ 133 $ 43 $ 671 $ ( 41 ) $ 630 Other segment disclosures: Amortization of DAC $ 531 $ 68 $ — $ 8 $ — $ 607 $ — $ 607 Amortization of other intangibles $ 7 $ 1 $ — $ 10 $ — $ 18 $ — $ 18 [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. [2]Other segment expenses (income) primarily consists of integration costs associated with the 2019 acquisition of Navigators Group and other miscellaneous revenue for Business Insurance and servicing expenses for Personal Insurance 16 Table of Contents Note 3 - Segment Information The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Assets March 31, 2026 December 31, 2025 Business Insurance $ 57,895 $ 57,471 Personal Insurance 6,053 6,446 Property & Casualty Other Operations 4,374 4,354 Employee Benefits 13,412 13,564 Hartford Funds 830 812 Total Reportable Segments 82,564 82,647 Corporate 3,758 3,350 Total assets $ 86,322 $ 85,997 Non-Insurance Revenue from Contracts with Customers Three Months Ended March 31, Revenue Line Item 2026 2025 Business Insurance Installment billing fees Fee income $ 12 $ 11 Personal Insurance Installment billing fees Fee income 8 8 Insurance servicing revenues Other revenues 22 20 Employee Benefits Administrative services Fee income 57 56 Hartford Funds Advisory, servicing and distribution fees Fee income 283 260 Corporate Investment management and other fees Fee income 10 11 Total non-insurance revenues with customers $ 392 $ 366 4. Fair Value Measurements The Company carries certain financial assets and liabilities at estimated fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants. Our fair value framework includes a hierarchy that gives the highest priority to the use of quoted prices in active markets, followed by the use of market observable inputs, followed by the use of unobservable inputs. The fair value hierarchy levels are as follows: Level 1 Fair values based on unadjusted quoted prices for identical assets or liabilities, in active markets that the Company has the ability to access at the measurement date. Level 2 Fair values primarily based on observable inputs, other than quoted prices included in Level 1, or based on prices for similar assets and liabilities. Level 3 Fair values derived when one or more of the significant inputs are unobservable (including assumptions about risk). With little or no observable market, the determination of fair values uses considerable judgment and represents the Company’s best estimate of an amount that could be realized in a market exchange for the asset or liability. Also included are securities that are traded within illiquid markets and/or priced by independent brokers. The Company will classify the financial asset or liability by level based upon the lowest level input that is significant to the determination of the fair value. In most cases, both observable inputs (e.g., changes in interest rates) and unobservable inputs (e.g., changes in risk assumptions) are used to determine fair values that the Company has classified within Level 3. 17 Table of Contents Note 4 - Fair Value Measurements The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of March 31, 2026 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets accounted for at fair value on a recurring basis Fixed maturities, AFS Asset-backed securities ("ABS") $ 4,668 $ — $ 4,505 $ 163 Collateralized loan obligations ("CLOs") 3,330 — 3,097 233 Commercial mortgage-backed securities ("CMBS") 2,232 — 2,116 116 Corporate 23,305 — 20,611 2,694 Foreign government/government agencies 436 — 436 — Municipal 4,255 — 4,255 — Residential mortgage-backed securities ("RMBS") 6,092 — 6,087 5 U.S. Treasuries 1,314 — 1,314 — Total fixed maturities, AFS 45,632 — 42,421 3,211 FVO securities 130 — — 130 Equity securities, at fair value [1] 488 358 7 123 Derivative assets Credit derivatives 18 — 18 — Foreign exchange derivatives 26 — 26 — Interest rate derivatives 5 — 5 — Total derivative assets [2] 49 — 49 — Short-term investments 4,223 553 2,982 688 Total assets accounted for at fair value on a recurring basis $ 50,522 $ 911 $ 45,459 $ 4,152 Liabilities accounted for at fair value on a recurring basis Derivative liabilities Credit derivatives $ ( 18 ) $ — $ ( 18 ) $ — Foreign exchange derivatives ( 8 ) — ( 8 ) — Interest rate derivatives ( 1 ) — ( 1 ) — Total derivative liabilities [3] ( 27 ) — ( 27 ) — Total liabilities accounted for at fair value on a recurring basis $ ( 27 ) $ — $ ( 27 ) $ — 18 Table of Contents Note 4 - Fair Value Measurements The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of December 31, 2025 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets accounted for at fair value on a recurring basis Fixed maturities, AFS ABS $ 4,663 $ — $ 4,496 $ 167 CLOs 3,316 — 3,099 217 CMBS 2,328 — 2,213 115 Corporate 23,076 — 20,210 2,866 Foreign government/government agencies 447 — 447 — Municipal 4,652 — 4,652 — RMBS 6,178 — 6,171 7 U.S. Treasuries 1,381 164 1,217 — Total fixed maturities, AFS 46,041 164 42,505 3,372 FVO securities 168 — — 168 Equity securities, at fair value [1] 492 379 7 106 Derivative assets Foreign exchange derivatives 20 — 20 — Total derivative assets [2] 20 — 20 — Short-term investments 4,353 602 3,369 382 Total assets accounted for at fair value on a recurring basis $ 51,074 $ 1,145 $ 45,901 $ 4,028 Liabilities accounted for at fair value on a recurring basis Derivative liabilities Foreign exchange derivatives $ ( 17 ) $ — $ ( 17 ) $ — Interest rate derivatives ( 3 ) — ( 3 ) — Total derivative liabilities [3] ( 20 ) — ( 20 ) — Total liabilities accounted for at fair value on a recurring basis $ ( 20 ) $ — $ ( 20 ) $ — [1] Level 3 includes investments that have contractual sales restrictions that require consent to sell and are in place for the duration that the securities are held by the Company. [2] Includes derivative instruments in a net positive fair value position after consideration of the accrued interest and impact of collateral posting requirements which may be imposed by agreements and applicable law. See footnote [3] to this table for derivative liabilities. [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. The Company has overseas deposits included in other investments of $ 89 and $ 87 as of March 31, 2026 and December 31, 2025, 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 Valuation Techniques The Company generally determines fair values using valuation techniques that use prices, rates, and other relevant information evident from market transactions involving identical or similar instruments. Valuation techniques also include, where appropriate, estimates of future cash flows that are converted into a single discounted amount using current market expectations. The Company uses a "waterfall" approach comprised of the following pricing sources and techniques, which are listed in priority order: • Quoted prices, unadjusted, for identical assets or liabilities in active markets, which are classified as Level 1. • Prices from third-party pricing services, which primarily utilize a combination of techniques. These services utilize recently reported trades of identical, similar, or benchmark securities making adjustments for market observable inputs available through the reporting date. If there are no recently reported trades, they may use a discounted cash flow technique to develop a price using expected cash flows based upon the anticipated future performance of the underlying collateral discounted at an estimated market rate. Both techniques develop prices that consider the time value of future cash flows and provide a margin for risk, including liquidity and credit risk. Most prices provided by 19 Table of Contents Note 4 - Fair Value Measurements The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) third-party pricing services are classified as Level 2 because the inputs used in pricing the securities are observable. However, some securities that are less liquid or trade less actively are classified as Level 3. Additionally, certain long-dated securities include benchmark interest rate or credit spread assumptions that are not observable in the marketplace and are thus classified as Level 3. • Internal matrix pricing is a valuation process internally developed for private placement securities for which the Company is unable to obtain a price from a third-party pricing service. Internal pricing matrices determine credit spreads that, when combined with risk-free rates, are applied to contractual cash flows to develop a price. The Company develops credit spreads using market based data for public securities adjusted for credit spread differentials between public and private securities, which are obtained from a survey of multiple private placement brokers. The market-based reference credit spread considers the issuer’s sector, financial strength, and term to maturity, using an independent public security index, while the credit spread differential considers the non-public nature of the security. Securities priced using internal matrix pricing are classified as Level 2 because the significant inputs are observable or can be corroborated with observable data. • Independent broker quotes, which are typically non-binding, use inputs that can be difficult to corroborate with observable market-based data. Brokers may use present value techniques using assumptions specific to the security types, or they may use recent transactions of similar securities. Due to the lack of transparency in the process that brokers use to develop prices, valuations that are based on independent broker quotes are classified as Level 3. As of March 31, 2026 and December 31, 2025, no significant adjustments were made by the Company to broker prices received. • Internal valuation models are used when third-party pricing or independent broker quotes are not available. These internally developed models incorporate market-based credit spreads from independent public security indexes reflective of comparable quality, maturity, and sector, adjusted for the non-public nature of the security. These securities are classified as Level 3 since they are not observable in the marketplace. The fair value of derivative instruments is determined primarily using a discounted cash flow model or option model technique and incorporates counterparty credit risk. In some cases, quoted market prices for exchange-traded and over-the-counter ("OTC") cleared derivatives may be used and in other cases independent broker quotes may be used. The pricing valuation models primarily use inputs that are observable in the market or can be corroborated by observable market data. The valuation of certain derivatives may include significant inputs that are unobservable, such as volatility levels, and reflect the Company’s view of what other market participants would use when pricing such instruments. Valuation Controls The process for determining the fair value of investments is monitored by the Valuation Committee, which is a cross-functional group of senior management within the Company. The purpose of the Valuation Committee is to provide oversight of the pricing policy, procedures, and controls, including approval of valuation methodologies and pricing sources. The Valuation Committee reviews market data trends, pricing statistics and trading statistics to ensure that prices are reasonable and consistent with our fair value framework. Controls and procedures used to assess third-party pricing services are reviewed by the Valuation Committee, including the results of annual due-diligence reviews. Controls include, but are not limited to, reviewing daily and monthly price changes, stale prices, and missing prices and comparing new trade prices to third-party pricing services, weekly price changes to published bond index prices, and daily OTC derivative market valuations to counterparty valuations. The Company has a dedicated pricing group that works with trading and investment professionals to challenge prices received by a third-party pricing source if the Company believes that the valuation received does not accurately reflect the fair value. New valuation models and changes to current models require approval by the Valuation Committee. In addition, the Company’s enterprise-wide Operational Risk Management function provides an independent review of the suitability and reliability of model inputs, as well as an analysis of significant changes to current models. Valuation Inputs Quoted prices for identical assets in active markets are considered Level 1 and consist of on-the-run U.S. Treasuries, money market funds, exchange-traded equity securities, open-ended mutual funds, certain short-term investments, and exchange traded derivative instruments. 20 Table of Contents Note 4 - Fair Value Measurements The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Valuation Inputs Used in Levels 2 and 3 Measurements for Securities and Derivatives Level 2 Primary Observable Inputs Level 3 Primary Unobservable Inputs Fixed Maturity Investments Structured securities (includes ABS, CLOs, CMBS and RMBS) • Benchmark yields and spreads • Monthly payment information • Collateral performance, which varies by vintage year and includes delinquency rates, loss severity rates and refinancing assumptions • Credit default swap indices Other inputs for ABS, CLOs, and RMBS: • Estimate of future principal prepayments, derived from the characteristics of the underlying structure • Prepayment speeds previously experienced at the interest rate levels projected for the collateral • Independent broker quotes • Credit spreads beyond observable curve • Interest rates beyond observable curve • For privately traded investments, credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature Other inputs for less liquid securities or those that trade less actively: • Estimated cash flows • Credit spreads, which include illiquidity premium • Constant prepayment and default rates, and loss severity Corporates • Benchmark yields and spreads • Reported trades, bids, offers of the same or similar securities • Issuer spreads and credit default swap curves Other inputs for investment grade privately placed securities that utilize internal matrix pricing: • Credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature • Independent broker quotes • Credit spreads beyond observable curve • Interest rates beyond observable curve Other inputs for privately traded investments and below investment grade privately placed securities: • Credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature U.S. Treasuries, Municipals, and Foreign government/government agencies • Benchmark yields and spreads • Issuer credit default swap curves • Political events in emerging market economies • Municipal Securities Rulemaking Board reported trades and material event notices • Issuer financial statements • Credit spreads beyond observable curve • Interest rates beyond observable curve Equity Securities • Quoted prices in markets that are not active • For privately traded equity securities, internal discounted cash flow models utilizing earnings multiples or other cash flow assumptions that are not observable • Private company financials Short-term Investments • Benchmark yields and spreads • Reported trades, bids, offers • Issuer spreads and credit default swap curves • Material event notices and new issue money market rates • Independent broker quotes • For privately traded investments, credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature Derivatives Credit derivatives • Swap yield curve • Credit default swap curves • Not applicable Foreign exchange derivatives • Swap yield curve • Currency spot and forward rates • Cross currency basis curves • Not applicable Interest rate derivatives • Swap yield curve • Not applicable Equity derivatives • Equity index levels • Not applicable 21 Table of Contents Note 4 - Fair Value Measurements The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Significant Unobservable Inputs for Level 3 - Securities Assets accounted for at fair value on a recurring basis Fair Value Predominant Valuation Technique Significant Unobservable Input Minimum Maximum Weighted Average [1] Impact of Increase in Input on Fair Value [2] As of March 31, 2026 ABS $ 163 Discounted cash flows Spread 469 bps 941 bps 568 bps Decrease CLOs $ 233 Discounted cash flows Spread 279 bps 1,041 bps 556 bps Decrease CMBS [3] $ 116 Discounted cash flows Spread (encompasses prepayment, default risk and loss severity) 200 bps 925 bps 404 bps Decrease Corporate [4] $ 2,593 Discounted cash flows Spread 105 bps 1,445 bps 308 bps Decrease RMBS $ 5 Discounted cash flows Spread [6] 84 bps 201 bps 114 bps Decrease Constant prepayment rate [6] 2 % 5 % 4 % Decrease [5] Constant default rate [6] 1 % 5 % 2 % Decrease Loss severity [6] 37 % 80 % 51 % Decrease Equity Securities $ 73 Adjusted Cost Private company financials N/A N/A N/A Increase 14 Discounted cash flows Spread 1,422 bps 1,422 bps 1,422 bps Decrease Short-term investments $ 688 Discounted cash flows Spread 154 bps 488 bps 185 bps Decrease As of December 31, 2025 ABS $ 167 Discounted cash flows Spread 434 bps 843 bps 530 bps Decrease CLOs $ 217 Discounted cash flows Spread 270 bps 1,021 bps 544 bps Decrease CMBS [3] $ 115 Discounted cash flows Spread (encompasses prepayment, default risk and loss severity) 245 bps 1,000 bps 397 bps Decrease Corporate [4] $ 2,765 Discounted cash flows Spread 88 bps 811 bps 289 bps Decrease RMBS $ 7 Discounted cash flows Spread [6] 88 bps 551 bps 172 bps Decrease Constant prepayment rate [6] 2 % 5 % 4 % Decrease [5] Constant default rate [6] 1 % 5 % 2 % Decrease Loss severity [6] 37 % 80 % 50 % Decrease Equity Securities $ 56 Adjusted Cost Private company financials N/A N/A N/A Increase $ 14 Discounted cash flows Spread 1,370 bps 1,370 bps 1,370 bps Decrease Short-term investments $ 382 Discounted cash flows Spread 164 bps 186 bps 177 bps Decrease [1] The weighted average is determined based on the fair value of the securities. [2] Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. [3] Excludes securities for which the Company bases fair value on broker quotations. [4]Excludes securities for which the Company bases fair value on broker quotations; however, included are broker priced lower-rated private placement securities for which the Company receives spread and yield information to corroborate the fair value. [5]Decrease for above market rate coupons and increase for below market rate coupons. [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. The table above excludes certain securities for which fair values are predominately based on independent broker quotes. As of March 31, 2026 and December 31, 2025, the fair values of the Company's level 3 derivatives were less than $ 1 for both periods. 22 Table of Contents Note 4 - Fair Value Measurements The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs The Company uses derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instrument may not be classified within the same fair value hierarchy level as the associated asset or liability. Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the Three Months Ended March 31, 2026 Total realized/unrealized gains (losses) Fair value as of January 1, 2026 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, 2026 Assets Fixed maturities, AFS ABS $ 167 $ — $ ( 2 ) $ 12 $ ( 3 ) $ — $ — $ ( 11 ) $ 163 CLOs 217 — ( 1 ) 107 — — — ( 90 ) 233 CMBS 115 — ( 1 ) — — — 2 — 116 Corporate 2,866 — ( 35 ) 97 ( 231 ) ( 3 ) — — 2,694 RMBS 7 — — — ( 2 ) — — — 5 Total fixed maturities, AFS 3,372 — ( 39 ) 216 ( 236 ) ( 3 ) 2 ( 101 ) 3,211 FVO securities 168 ( 34 ) — 1 ( 5 ) — — — 130 Equity securities, at fair value 106 ( 1 ) — 18 — — — — 123 Short-term investments 382 — ( 1 ) 435 ( 41 ) ( 87 ) — — 688 Total Assets $ 4,028 $ ( 35 ) $ ( 40 ) $ 670 $ ( 282 ) $ ( 90 ) $ 2 $ ( 101 ) $ 4,152 Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the Three Months Ended March 31, 2025 Total realized/unrealized gains (losses) 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 Assets Fixed maturities, AFS ABS $ 22 $ — $ 1 $ 34 $ ( 1 ) $ — $ — $ — $ 56 CLOs 116 — — 208 ( 1 ) — — ( 90 ) 233 CMBS 167 — 3 — — ( 2 ) 35 ( 53 ) 150 Corporate 2,281 1 15 164 ( 89 ) ( 9 ) 38 — 2,401 RMBS 24 — — 24 ( 4 ) — — ( 5 ) 39 Total fixed maturities, AFS 2,610 1 19 430 ( 95 ) ( 11 ) 73 ( 148 ) 2,879 FVO securities 197 ( 4 ) — 6 ( 4 ) — — — 195 Equity securities, at fair value 87 ( 1 ) — 8 ( 3 ) — — — 91 Short-term investments 98 — — 10 ( 49 ) — — — 59 Total Assets $ 2,992 $ ( 4 ) $ 19 $ 454 $ ( 151 ) $ ( 11 ) $ 73 $ ( 148 ) $ 3,224 [1] Amounts in these columns are generally reported in net realized gains (losses) . All amounts are before income taxes. [2] All amounts are before income taxes. [3] Transfers into and/or (out of) Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs. 23 Table of Contents Note 4 - Fair Value Measurements The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Changes in Unrealized Gains (Losses) for Financial Instruments Classified as Level 3 Still Held at End of Period Three Months Ended March 31, 2026 2025 2026 2025 Changes in Unrealized Gain/(Loss) included in Net Income [1] [2] Changes in Unrealized Gain/(Loss) included in OCI [3] Assets Fixed maturities, AFS ABS $ — $ — $ ( 2 ) $ 1 CLOs — — ( 1 ) — CMBS — — ( 1 ) 3 Corporate — 3 ( 35 ) 13 Total fixed maturities, AFS — 3 ( 39 ) 17 FVO securities ( 34 ) ( 4 ) — — Equity securities, at fair value ( 1 ) — — — Total Assets $ ( 35 ) $ ( 1 ) $ ( 39 ) $ 17 [1] All amounts in these rows are reported in net realized gains (losses) . All amounts are before income taxes. [2] Amounts presented are for Level 3 only and therefore may not agree to other disclosures included herein. [3] Changes in unrealized gains (losses) on fixed maturities, AFS are reported in changes in net unrealized gain (loss) on fixed maturities in the Condensed Consolidated Statements of Comprehensive Income (Loss). Fair Value Option The Company has elected the fair value option for certain investments in residual interests of securitizations in order to reflect changes in fair value in earnings. 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. As of March 31, 2026 and December 31, 2025, the fair value of assets using the fair value option was $ 130 and $ 168 , respectively. For the three months ended March 31, 2026 and 2025, net realized gains (losses) related to the change in fair value of assets using the fair value option were $( 34 ) and $( 4 ), respectively. Financial Instruments Not Carried at Fair Value Financial Assets and Liabilities Not Carried at Fair Value March 31, 2026 December 31, 2025 Fair Value Hierarchy Level Carrying Amount [1] Fair Value Fair Value Hierarchy Level Carrying Amount [1] Fair Value Assets Mortgage loans Level 3 $ 7,015 $ 6,747 Level 3 $ 6,837 $ 6,607 Liabilities Other policyholder funds and benefits payable Level 3 $ 612 $ 612 Level 3 $ 612 $ 613 Senior notes [2] Level 2 $ 3,873 $ 3,440 Level 2 $ 3,872 $ 3,528 Junior subordinated debentures [2] Level 2 $ 499 $ 479 Level 2 $ 499 $ 473 [1] As of both March 31, 2026 and December 31, 2025, the carrying amount of mortgage loans is net of ACL of $ 49 . [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. 24 Table of Contents Note 5 - Investments The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 5. Investments Net Realized Gains (Losses) Three Months Ended March 31, (Before tax) 2026 2025 Gross gains on sales of fixed maturities $ 18 $ 13 Gross losses on sales of fixed maturities ( 30 ) ( 25 ) Equity securities [1] Change in net unrealized gains (losses) of equity securities ( 17 ) ( 11 ) Net realized and unrealized gains (losses) on equity securities ( 17 ) ( 11 ) Net credit losses on fixed maturities, AFS — 2 Change in ACL on mortgage loans — — Other, net [2] ( 26 ) ( 28 ) Net realized gains (losses) $ ( 55 ) $ ( 49 ) [1] The change in net unrealized gains on equity securities still held as of the end of the period, and included in net realized gains (losses) were $( 18 ) and $( 11 ) for the three months ended March 31, 2026 and 2025, respectively. [2] For the three months ended March 31, 2026 and 2025, includes gains (losses) from transactional foreign currency revaluation of $ 3 and $( 10 ), respectively, and gains on non-qualifying derivatives of $ 8 and $ 0 , respectively. Proceeds from the sales of fixed maturities, AFS totaled $ 1.4 billion and $ 1.0 billion for the three months ended March 31, 2026 and 2025, respectively. There were no non-cash investing activities for both the three months ended March 31, 2026 and 2025. Accrued Investment Income on Fixed Maturities, AFS and Mortgage Loans As of March 31, 2026 and December 31, 2025, the Company reported accrued investment income related to fixed maturities, AFS of $ 444 and $ 439 , respectively, and accrued investment income related to mortgage loans of $ 26 and $ 25 , respectively. These amounts are not included in the carrying value of the fixed maturities or mortgage loans. Investment income on fixed maturities and mortgage loans is accrued unless it is past due over 90 days or management deems the interest uncollectible. The Company does not include the current accrued investment income balance when estimating the ACL. The Company has a policy to write-off accrued investment income balances that are more than 90 days past due. Write-offs of accrued investment income are recorded as a credit loss component of net realized gains and losses. Recognition and Presentation of Intent-to-Sell Impairments and ACL on Fixed Maturities, AFS 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. 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. 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. Any remaining unrealized loss on a fixed maturity after recording an ACL is the non-credit amount and is recorded in OCI. The ACL is the excess of the amortized cost over the greater of the Company's best estimate of the present value of expected future cash flows or the security's fair value. Cash flows are discounted at the effective yield that is used to record interest income. The ACL cannot exceed the unrealized loss and, therefore, it may fluctuate with changes in the fair value of the fixed maturity if the fair value is greater than the Company's best estimate of the present value of expected future cash flows. The initial ACL and any subsequent changes are recorded in net realized gains and losses. The ACL is written off against the amortized cost in the period in which all or a portion of the related fixed maturity is determined to be uncollectible. Developing the Company’s best estimate of expected future cash flows is a quantitative and qualitative process that incorporates information received from third-party sources along with certain internal assumptions regarding the future performance. 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. 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. 25 Table of Contents Note 5 - Investments The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 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 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 Three Months Ended March 31, 2026 2025 (Before tax) CLOs CMBS Total Corporate CMBS Total Balance as of beginning of period $ 2 $ 14 $ 16 $ 3 $ 13 $ 16 Net increases (decreases) on fixed maturities where an allowance was previously recorded — — — ( 3 ) 1 ( 2 ) Balance as of end of period $ 2 $ 14 $ 16 $ — $ 14 $ 14 Fixed Maturities, AFS Fixed Maturities, AFS, by Type March 31, 2026 December 31, 2025 Amortized Cost ACL Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost ACL Gross Unrealized Gains Gross Unrealized Losses Fair Value ABS $ 4,664 $ — $ 30 $ ( 26 ) $ 4,668 $ 4,628 $ — $ 51 $ ( 16 ) $ 4,663 CLOs 3,335 ( 2 ) 3 ( 6 ) 3,330 3,310 ( 2 ) 9 ( 1 ) 3,316 CMBS 2,373 ( 14 ) 25 ( 152 ) 2,232 2,468 ( 14 ) 24 ( 150 ) 2,328 Corporate 23,886 — 204 ( 785 ) 23,305 23,305 — 375 ( 604 ) 23,076 Foreign govt./govt. agencies 435 — 6 ( 5 ) 436 440 — 9 ( 2 ) 447 Municipal 4,462 — 64 ( 271 ) 4,255 4,831 — 89 ( 268 ) 4,652 RMBS 6,317 — 31 ( 256 ) 6,092 6,372 — 50 ( 244 ) 6,178 U.S. Treasuries 1,457 — 1 ( 144 ) 1,314 1,517 — 3 ( 139 ) 1,381 Total fixed maturities, AFS $ 46,929 $ ( 16 ) $ 364 $ ( 1,645 ) $ 45,632 $ 46,871 $ ( 16 ) $ 610 $ ( 1,424 ) $ 46,041 Fixed Maturities, AFS, by Contractual Maturity Year March 31, 2026 December 31, 2025 Amortized Cost Fair Value Amortized Cost Fair Value One year or less $ 1,042 $ 1,040 $ 1,174 $ 1,179 Over one year through five years 9,915 9,876 9,725 9,791 Over five years through ten years 8,884 8,756 9,046 9,055 Over ten years 10,399 9,638 10,148 9,531 Subtotal 30,240 29,310 30,093 29,556 Mortgage-backed and asset-backed securities 16,689 16,322 16,778 16,485 Total fixed maturities, AFS $ 46,929 $ 45,632 $ 46,871 $ 46,041 Estimated maturities may differ from contractual maturities due to call or prepayment provisions. Due to the potential for variability in payment speeds (i.e., prepayments or extensions), mortgage-backed and asset-backed securities are not categorized by contractual maturity. Concentration of Credit Risk 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. 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, 2026 or 26 Table of Contents Note 5 - Investments The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) December 31, 2025 other than U.S. government securities and certain U.S. government agencies. Unrealized Losses on Fixed Maturities, AFS Unrealized Loss Aging for Fixed Maturities, AFS by Type and Length of Time as of March 31, 2026 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses ABS $ 1,166 $ ( 13 ) $ 212 $ ( 13 ) $ 1,378 $ ( 26 ) CLOs 1,996 ( 6 ) — — 1,996 ( 6 ) CMBS 73 ( 1 ) 1,787 ( 151 ) 1,860 ( 152 ) Corporate 6,908 ( 131 ) 6,631 ( 654 ) 13,539 ( 785 ) Foreign govt./govt. agencies 187 ( 2 ) 36 ( 3 ) 223 ( 5 ) Municipal 937 ( 16 ) 1,943 ( 255 ) 2,880 ( 271 ) RMBS 1,648 ( 13 ) 2,189 ( 243 ) 3,837 ( 256 ) U.S. Treasuries 502 ( 14 ) 518 ( 130 ) 1,020 ( 144 ) Total fixed maturities, AFS in an unrealized loss position $ 13,417 $ ( 196 ) $ 13,316 $ ( 1,449 ) $ 26,733 $ ( 1,645 ) Unrealized Loss Aging for Fixed Maturities, AFS by Type and Length of Time as of December 31, 2025 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses ABS $ 405 $ ( 2 ) $ 339 $ ( 14 ) $ 744 $ ( 16 ) CLOs 496 ( 1 ) — — 496 ( 1 ) CMBS 119 ( 3 ) 1,852 ( 147 ) 1,971 ( 150 ) Corporate 2,372 ( 34 ) 7,089 ( 570 ) 9,461 ( 604 ) Foreign govt./govt. agencies 39 — 38 ( 2 ) 77 ( 2 ) Municipal 407 ( 7 ) 2,286 ( 261 ) 2,693 ( 268 ) RMBS 256 ( 1 ) 2,626 ( 243 ) 2,882 ( 244 ) U.S. Treasuries 592 ( 11 ) 563 ( 128 ) 1,155 ( 139 ) Total fixed maturities, AFS in an unrealized loss position $ 4,686 $ ( 59 ) $ 14,793 $ ( 1,365 ) $ 19,479 $ ( 1,424 ) As of March 31, 2026, fixed maturities, AFS in an unrealized loss position consisted of 3,294 instruments and were primarily depressed due to higher interest rates and/or wider credit spreads since the purchase date. As of March 31, 2026, 95 % of these fixed maturities were depressed less than 20% of cost or amortized cost. The increase in unrealized losses during the three months ended March 31, 2026, was primarily attributable to higher 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. The Company neither has an intention to sell nor does it expect to be required to sell the fixed maturities outlined in the preceding discussion. The decision to record credit losses on fixed maturities, AFS in the form of an ACL requires us to make qualitative and quantitative estimates of expected future cash flows. Mortgage Loans ACL on Mortgage Loans The Company reviews mortgage loans on a quarterly basis to estimate the ACL with changes in the ACL recorded in net realized gains and losses. Apart from an ACL recorded on individual mortgage loans where the borrower is experiencing financial difficulties, the Company records an ACL on the pool of mortgage loans based on lifetime expected credit losses. The Company utilizes a third-party forecasting model to estimate lifetime expected credit losses at a loan level under multiple economic scenarios. The scenarios use macroeconomic data provided by an internationally recognized economics firm that generates forecasts of varying economic factors such as GDP growth, unemployment and interest rates. The economic scenarios are projected over 10 years. 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 27 Table of Contents Note 5 - Investments The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) historical long-term assumptions over the remaining period. 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. 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. The Company's process also considers qualitative factors. The model overlays historical data about mortgage loan performance based on DSCRs and LTVs and projects the probability of default, amount of loss given a default and resulting expected loss through maturity for each loan under each economic scenario. Economic scenarios are probability-weighted based on a statistical analysis of the forecasted economic factors and qualitative analysis. The Company records the change in the ACL on mortgage loans based on the weighted-average expected credit losses across the selected economic scenarios. When a borrower is experiencing financial difficulty, including when foreclosure is probable, the Company measures an ACL on individual mortgage loans. The ACL is established for any shortfall between the amortized cost of the loan and the fair value of the collateral less costs to sell. Estimates of collectibility from an individual borrower require the use of significant management judgment and include the probability and timing of borrower default and loss severity estimates. In addition, cash flow projections may change based upon new information about the borrower's ability to pay and/or the value of underlying collateral such as changes in projected property value estimates. 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. There were no mortgage loans held-for-sale as of March 31, 2026 or December 31, 2025. For the three months ended March 31, 2026 and 2025, 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. ACL on Mortgage Loans Three Months Ended March 31, 2026 2025 ACL as of beginning of period $ 49 $ 44 Current period provision (release) — — Current period gross write-offs — ( 1 ) ACL as of March 31, $ 49 $ 43 The weighted-average LTV ratio of the Company’s mortgage loan portfolio was 56 % as of March 31, 2026, while the weighted-average LTV ratio at origination of these loans was 58 %. 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. Factors considered in estimating property values include, among other things, actual and expected property cash flows, geographic market data and the ratio of the property's net operating income to its value. 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. Mortgage Loans LTV & DSCR by Origination Year as of March 31, 2026 2026 2025 2024 2023 2022 2021 & Prior Total Loan-to-value Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost [1] Avg. DSCR Greater than 80% $ — — x $ 31 1.83 x $ — — x $ — — x $ — — x $ 160 1.60 x $ 191 1.63 x 65% - 80% — — x 56 1.53 x 76 1.35 x 23 0.85 x 95 1.64 x 775 2.32 x 1,025 2.10 x Less than 65% 282 1.91 x 1,132 1.73 x 578 1.56 x 330 1.42 x 645 2.92 x 2,881 2.84 x 5,848 2.38 x Total mortgage loans $ 282 1.91 x $ 1,219 1.72 x $ 654 1.53 x $ 353 1.39 x $ 740 2.75 x $ 3,816 2.68 x $ 7,064 2.32 x [1] Amortized cost of mortgage loans excludes ACL of $ 49 . Mortgage Loans LTV & DSCR by Origination Year as of December 31, 2025 2025 2024 2023 2022 2021 2020 & Prior Total Loan-to-value Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost Avg. DSCR Amortized Cost [1] Avg. DSCR Greater than 80% $ 30 1.83 x $ — — x $ — — x $ — — x $ 36 0.98 x $ 164 1.39 x $ 230 1.38 x 65% - 80% 56 1.53 x 76 1.03 x 23 0.83 x 95 1.65 x 444 2.72 x 315 1.96 x 1,009 2.14 x Less than 65% 1,123 1.80 x 535 1.57 x 401 1.40 x 645 2.93 x 993 3.10 x 1,950 2.75 x 5,647 2.44 x Total mortgage loans $ 1,209 1.79 x $ 611 1.50 x $ 424 1.37 x $ 740 2.77 x $ 1,473 2.93 x $ 2,429 2.56 x $ 6,886 2.36 x [1] Amortized cost of mortgage loans excludes ACL of $ 49 . 28 Table of Contents Note 5 - Investments The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Mortgage Loans by Region March 31, 2026 December 31, 2025 Amortized Cost Percent of Total Amortized Cost Percent of Total East North Central $ 415 5.9 % $ 401 5.8 % Middle Atlantic 276 3.9 % 275 4.0 % Mountain 928 13.1 % 903 13.1 % New England 328 4.6 % 351 5.1 % Pacific 1,432 20.3 % 1,417 20.6 % South Atlantic 2,052 29.1 % 2,005 29.1 % West North Central 128 1.8 % 128 1.9 % West South Central 743 10.5 % 720 10.4 % Other [1] 762 10.8 % 686 10.0 % Total mortgage loans 7,064 100.0 % 6,886 100.0 % ACL ( 49 ) ( 49 ) Total mortgage loans, net of ACL $ 7,015 $ 6,837 [1] Primarily represents loans collateralized by multiple properties in various regions. Mortgage Loans by Property Type March 31, 2026 December 31, 2025 Amortized Cost Percent of Total Amortized Cost Percent of Total Commercial Industrial $ 3,400 48.1 % $ 3,208 46.6 % Multifamily 2,205 31.2 % 2,209 32.1 % Office 375 5.3 % 399 5.8 % Retail [1] 1,004 14.2 % 992 14.4 % Single Family 80 1.2 % 78 1.1 % Total mortgage loans 7,064 100.0 % 6,886 100.0 % ACL ( 49 ) ( 49 ) Total mortgage loans, net of ACL $ 7,015 $ 6,837 [1] Primarily comprised of grocery-anchored retail centers, with no exposure to regional shopping malls. Past-Due Mortgage Loans 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. As of March 31, 2026 and December 31, 2025, 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. As of March 31, 2026, under this program, the Company serviced mortgage loans with a total outstanding principal of $ 10.4 billion, of which $ 4.8 billion was serviced on behalf of third parties and $ 5.6 billion was retained and reported in total investments on the Company's Condensed Consolidated Balance Sheets. As of December 31, 2025, the Company serviced mortgage loans with a total outstanding principal balance of $ 10.4 billion, of which $ 4.8 billion was serviced on behalf of third parties and $ 5.6 billion was retained and reported in total investments on the Company's Condensed Consolidated Balance Sheets. Servicing rights are carried at the lower of cost or fair value and were $ 0 as of March 31, 2026 and December 31, 2025, because servicing fees were market-level fees at origination and remain adequate to compensate the Company for servicing the loans. Variable Interest Entities The Company is engaged with various special purpose entities and other entities that are deemed to be variable interest entities ("VIEs") primarily as an investor through normal investment activities or, at times, as an investment manager. A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of its VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. 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. Consolidated VIEs As of March 31, 2026 and December 31, 2025, the Company did no t hold any securities for which it is the primary beneficiary. Non-Consolidated VIEs The Company, through normal investment activities, makes passive investments in limited partnerships and other alternative investments. 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. The Company’s maximum exposure to loss as of March 31, 2026 and December 31, 2025 was limited to the total carrying value of $ 4.1 billion and $ 4.0 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. As of March 31, 2026 and December 31, 2025, the Company has outstanding commitments totaling $ 2.7 billion and $ 2.4 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. For further discussion of these investments, see Equity Method 29 Table of Contents Note 5 - Investments The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Investments within Note 5 - Investments of Notes to Consolidated Financial Statements included in the Company’s 2025 Form 10-K Annual Report. Furthermore, the Company makes investments in entities that sponsor affordable housing projects. Similarly, 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. 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. For the three months ended March 31, 2026 and 2025, the Company recognized amortization of $ 6 and $ 4 , respectively, and related tax benefits of $ 9 and $ 6 , respectively. The income tax credits and other income tax benefits are recognized in operating activities in the Condensed Consolidated Statement of Cash Flows. The carrying value of these investments, which are reported in other assets on the Company’s Condensed Consolidated Balance Sheets was $ 145 and $ 121 as of March 31, 2026, and December 31, 2025, respectively. As of March 31, 2026 and December 31, 2025, the Company has outstanding commitments related to affordable housing projects of $ 228 and $ 259 , 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. 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. The Company’s maximum exposure to loss on these investments is limited to the amount of the Company’s investment. Reverse Repurchase Agreements, Collateral Transactions and Restricted Investments Reverse Repurchase Agreements The Company enters into reverse repurchase agreements where the Company purchases securities and simultaneously agrees to resell the same or substantially the same securities. The maturity of these transactions is generally within one year. The agreements require additional collateral to be transferred to the Company under specified conditions and the Company has the right to sell or re-pledge the securities received. The Company accounts for reverse repurchase agreements as collateralized financing. As of both March 31, 2026 and December 31, 2025, the Company reported $ 87 , within short-term investments on the Condensed Consolidated Balance Sheets representing a receivable for the amount of cash transferred to purchase securities. Collateral Transactions For disclosure of collateral in support of derivative transactions, refer to the Derivative Collateral Arrangements section in Note 6 - Derivatives of Notes to Condensed Consolidated Financial Statements. Other Restricted Investments The Company is required by law to deposit securities with government agencies in certain states in which it conducts business. In addition, the Company is required to hold fixed maturities and short-term investments in trust for the benefit of syndicate policyholders, hold fixed maturities in a Lloyd's of London ("Lloyd's") trust account to provide a portion of the required capital, and maintain other investments primarily consisting of overseas deposits in various countries with Lloyd's to support underwriting activities in those countries. Lloyd's is an insurance market-place operating worldwide. Lloyd's does not underwrite risks. The Company accepts risks as the sole member of Lloyd's Syndicate 1221 ("Lloyd's Syndicate"). The following table presents the components of the Company’s exposure to other restricted investments. March 31, 2026 December 31, 2025 Fair Value Fair Value Securities on deposit with government agencies $ 2,515 $ 2,558 Fixed maturities in trust for benefit of Lloyd's Syndicate policyholders 1,194 1,178 Short-term investments in trust for benefit of Lloyd's Syndicate policyholders 5 23 Other investments 89 87 Total Other Restricted Investments $ 3,803 $ 3,846 30 Table of Contents Note 6 - Derivatives The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 6. Derivatives The Company utilizes a variety of OTC, OTC-cleared and exchange traded derivative instruments as a part of its overall risk management strategy as well as to enter into replication transactions or income generation covered call transactions. Derivative instruments are used to manage risk associated with interest rate, equity market, credit spread, issuer default, price, and currency exchange rate or volatility. Replication transactions may be used as an economical means to synthetically replicate the characteristics and performance of assets that are permissible investments under the Company’s investment policies. Strategies that Qualify for Hedge Accounting Some of the Company's derivatives satisfy hedge accounting requirements as outlined in Note 1 - Basis of Presentation and Significant Accounting Policies of Notes to Consolidated Financial Statements, included in The Hartford’s 2025 Form 10-K Annual Report. Typically, these hedging instruments include interest rate swaps and, to a lesser extent, foreign currency swaps where the terms or expected cash flows of the hedged item closely match the terms of the swap. Cash Flow Hedges Interest rate swaps are predominantly used to manage portfolio duration and better match cash receipts from assets with cash disbursements required to fund liabilities. These derivatives primarily convert interest receipts on variable-rate fixed maturity securities to fixed rates. The Company has also entered into interest rate swaps to convert the variable interest payments on the $ 500 junior subordinated debentures due 2067 to fixed interest payments. For further information, see the Junior Subordinated Debentures section within Note 13 - Debt of Notes to Consolidated Financial Statements, included in The Hartford's 2025 Form 10-K Annual Report. Foreign currency swaps are used to convert foreign currency denominated cash flows related to certain investment receipts to U.S. dollars in order to reduce cash flow fluctuations due to changes in currency rates. Non-qualifying Strategies Derivative relationships that do not qualify for hedge accounting (“non-qualifying strategies”) primarily include hedges of interest rate, foreign currency, and equity risk of certain fixed maturities and equities. In addition, hedging and replication strategies that utilize credit default swaps do not qualify for hedge accounting. The non-qualifying strategies include: Credit Contracts Credit default swaps are used to purchase credit protection on an individual entity or referenced index to economically hedge against default risk and credit-related changes in the value of fixed maturity securities. Credit default swaps are also used to assume credit risk related to an individual entity or referenced index as a part of replication transactions. These contracts require the Company to pay or receive a periodic fee in exchange for compensation from the counterparty or the Company should the referenced security issuers experience a credit event, as defined in the contract. The Company also enters into credit default swaps to terminate existing credit default swaps, thereby offsetting the changes in value of the original swap going forward. Interest Rate Swaps and Futures The Company uses interest rate swaps and, to a lesser extent, futures to manage interest rate duration between assets and liabilities. 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. As of March 31, 2026 and December 31, 2025, the notional amount of interest rate swaps in offsetting relationships was $ 333 for both periods. Foreign Currency Swaps The Company enters into foreign currency swaps to convert the foreign currency exposures of certain foreign currency-denominated fixed maturity investments to U.S. dollars. Equity Index Options The Company may enter into equity index options to hedge the impact of a decline in the equity markets on the investment portfolio. Derivative Balance Sheet Classification For reporting purposes, the Company has elected to offset within assets or liabilities based upon the net of the fair value amounts, income accruals, and related cash collateral receivables and payables of OTC derivative instruments executed in a legal entity and with the same counterparty under a master netting agreement, which provides the Company with the legal right of offset. The following fair value amounts do not include income accruals or related cash collateral receivables and payables, which are netted with derivative fair value amounts to determine balance sheet presentation. The Company’s derivative instruments are held for risk management purposes, unless otherwise noted in the following table. The notional amount of derivative contracts represents the basis upon which payments or receipts are calculated and is presented in the table to quantify the volume of the Company’s derivative activity. Notional amounts are not necessarily reflective of credit risk. 31 Table of Contents Note 6 - Derivatives The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Derivative Balance Sheet Presentation Net Derivatives Asset Derivatives Liability Derivatives Notional Amount Fair Value Fair Value Fair Value Hedge Designation/ Derivative Type Mar 31, 2026 Dec. 31, 2025 Mar 31, 2026 Dec. 31, 2025 Mar 31, 2026 Dec. 31, 2025 Mar 31, 2026 Dec. 31, 2025 Cash flow hedges Interest rate swaps $ 4,500 $ 3,775 $ 2 $ ( 1 ) $ 2 $ — $ — $ ( 1 ) Foreign currency swaps 588 588 18 3 41 33 ( 23 ) ( 30 ) Total cash flow hedges 5,088 4,363 20 2 43 33 ( 23 ) ( 31 ) Non-qualifying strategies Interest rate contracts Interest rate swaps and futures 1,794 333 2 ( 2 ) 3 — ( 1 ) ( 2 ) Foreign exchange contracts Foreign currency swaps 588 588 — — — — — — Credit contracts Credit derivatives in offsetting positions 985 985 — — 19 27 ( 19 ) ( 27 ) Total non-qualifying strategies 3,367 1,906 2 ( 2 ) 22 27 ( 20 ) ( 29 ) Total cash flow hedges and non-qualifying strategies $ 8,455 $ 6,269 $ 22 $ — $ 65 $ 60 $ ( 43 ) $ ( 60 ) Balance Sheet Location Fixed maturities, AFS $ 588 $ 588 $ — $ — $ — $ — $ — $ — Other investments 6,447 1,695 49 20 55 55 ( 6 ) ( 35 ) Other liabilities 1,420 3,986 ( 27 ) ( 20 ) 10 5 ( 37 ) ( 25 ) Total derivatives $ 8,455 $ 6,269 $ 22 $ — $ 65 $ 60 $ ( 43 ) $ ( 60 ) Offsetting of Derivative Assets/Liabilities The following tables present the gross fair value amounts, the offsetting amounts, and net position of derivative instruments eligible for offset in the Company's Condensed Consolidated Balance Sheets. Offsetting amounts include fair value amounts, income accruals and related cash collateral receivables and payables associated with derivative instruments that are traded under a common master netting agreement, as described in the preceding discussion. Also included in the tables are financial collateral receivables and payables, which are contractually permitted to be offset upon an event of default, although are disallowed for offsetting under U.S. GAAP. 32 Table of Contents Note 6 - Derivatives The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Offsetting Derivative Assets and Liabilities (i) (ii) (iii) = (i) - (ii) (iv) (v) = (iii) - (iv) Net Amounts Presented in the Statement of Financial Position Collateral Disallowed for Offset in the Statement of Financial Position 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 As of March 31, 2026 Other investments $ 65 $ 46 $ 49 $ ( 30 ) $ 11 $ 8 Other liabilities $ ( 43 ) $ ( 26 ) $ ( 27 ) $ 10 $ ( 16 ) $ ( 1 ) As of December 31, 2025 Other investments $ 60 $ 58 $ 20 $ ( 18 ) $ 1 $ 1 Other liabilities $ ( 60 ) $ ( 38 ) $ ( 20 ) $ ( 2 ) $ ( 21 ) $ ( 1 ) [1] Included in other investments in the Company's Condensed Consolidated Balance Sheets. [2] Included in other liabilities in the Company's Condensed Consolidated Balance Sheets and is limited to the net derivative payable associated with each counterparty. [3] Included in other investments in the Company's Condensed Consolidated Balance Sheets and is limited to the net derivative receivable associated with each counterparty. [4] Excludes collateral associated with exchange-traded derivative instruments. Cash Flow Hedges For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative is reported as a component of OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness. Gains (Losses) Recognized in OCI Three Months Ended March 31, 2026 2025 Interest rate swaps $ ( 18 ) $ 10 Foreign currency swaps 18 ( 6 ) Total $ — $ 4 Gains (Losses) Reclassified from AOCI into Income Three Months Ended March 31, 2026 2025 Net Investment Income Interest Expense Net Investment Income Interest Expense Interest rate swaps $ ( 1 ) $ 2 $ ( 2 ) $ 3 Foreign currency swaps 3 — 3 — Total $ 2 $ 2 $ 1 $ 3 Total amounts presented on the Condensed Consolidated Statement of Operations $ 739 $ 50 $ 656 $ 50 33 Table of Contents Note 6 - Derivatives The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) As of March 31, 2026, 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 $ 16 . 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. During the three months ended March 31, 2026 and 2025, 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 For non-qualifying strategies, including embedded derivatives that are required to be bifurcated from their host contracts and accounted for as derivatives, the gain or loss on the derivative is recognized currently in earnings within net realized gains (losses). Non-Qualifying Strategies Recognized within Net Realized Gains (Losses) Three Months Ended March 31, 2026 2025 Interest rate contracts Interest rate swaps and futures $ 8 $ ( 1 ) Equity contracts Equity index options — 1 Total [1] $ 8 $ — [1]Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 4 - Fair Value Measurements of Notes to Condensed Consolidated Financial Statements. Credit Risk Assumed through Credit Derivatives The Company enters into credit default swaps that assume credit risk of a single entity or referenced index in order to synthetically replicate investment transactions that are permissible under the Company's investment policies. The Company will receive periodic payments based on an agreed upon rate and notional amount and will only make a payment if there is a credit event. A credit event payment will typically be equal to the notional value of the swap contract less the value of the referenced security issuer’s debt obligation after the occurrence of the credit event. A credit event is generally defined as a default on contractually obligated interest or principal payments or bankruptcy of the referenced entity. The credit default swaps in which the Company assumes credit risk may primarily reference investment grade single corporate issuers and baskets, which include standard diversified portfolios of corporate and CMBS issuers. 34 Table of Contents Note 6 - Derivatives The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Credit Risk Assumed Derivatives by Type Underlying Referenced Credit Obligation(s) [1] Notional Amount [2] Fair Value Weighted Average Years to Maturity Type Average Credit Rating Offsetting Notional Amount [3] Offsetting Fair Value [3] As of March 31, 2026 Basket credit default swaps [4] Investment grade risk exposure $ 100 $ — 2 years CMBS Credit AAA $ 100 $ — Below investment grade risk exposure 392 18 2 years Corporate Credit BB- 392 ( 18 ) Below investment grade risk exposure 1 — Less than 1 year CMBS Credit B- 1 — Total [5] $ 493 $ 18 $ 493 $ ( 18 ) As of December 31, 2025 Basket credit default swaps [4] Investment grade risk exposure $ 100 $ 1 3 years CMBS Credit AAA $ 100 $ ( 1 ) Below investment grade risk exposure 392 27 2 years Corporate Credit B+ 392 ( 27 ) Below investment grade risk exposure 1 ( 1 ) Less than 1 year CMBS Credit B- 1 1 Total [5] $ 493 $ 27 $ 493 $ ( 27 ) [1] The average credit ratings are based on availability and are generally the midpoint of the available ratings among Moody’s, S&P and Fitch. If no rating is available from a rating agency, then an internally developed rating is used. [2] Notional amount is equal to the maximum potential future loss amount. These derivatives are governed by agreements and applicable law, which include collateral posting requirements. There is no additional specific collateral related to these contracts or recourse provisions included in the contracts to offset losses. [3] The Company has entered into offsetting credit default swaps to terminate certain existing credit default swaps, thereby offsetting the future changes in value of, or losses paid related to, the original swap. [4] Comprised of swaps of standard market indices of diversified portfolios of corporate and CMBS issuers referenced through credit default swaps. These swaps are subsequently valued based upon the observable standard market index. [5] Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 4 - Fair Value Measurements of Notes to Condensed Consolidated Financial Statements. Derivative Collateral Arrangements The Company enters into various collateral arrangements in connection with its derivative instruments, which require both the pledging and accepting of collateral. As of March 31, 2026 and December 31, 2025, the Company ha s pl edged cash collateral associated with derivative instruments of $ 17 and $ 27 , 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. As of March 31, 2026 and December 31, 2025, the Company pledged securities collateral associated with derivative instruments with a fair value of $ 15 and $ 22 , 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. In addition, as of March 31, 2026 and December 31, 2025, the Company has pledged initial margin of cash related to OTC-cleared and exchange traded derivatives with a fair value of $ 9 and $ 7 , respectively, which is recorded in other investments or other assets on the Company's Condensed Consolidated Balance Sheets. As of March 31, 2026 and December 31, 2025, the Company has pledged initial margin of securities related to OTC-cleared and exchange traded derivatives with a fair value of $ 227 and $ 98 , respectively, which are included within fixed maturities on the Company's Condensed Consolidated Balance Sheets. As of March 31, 2026 and December 31, 2025, the Company accepted cash collateral associated with derivative instruments of $ 40 and $ 50 , 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. The Company also accepted securities collateral, as of March 31, 2026 and December 31, 2025, with a fair value of $ 12 and $ 2 , respectively, which the Company has the right to repledge or sell. As of March 31, 2026 and December 31, 2025, the Company had no repledged securities. In addition, as of March 31, 2026 and December 31, 2025, non-cash collateral accepted was held in separate custodial accounts and was not included in the Company's Condensed Consolidated Balance Sheets. 35 Table of Contents Note 7 - Premiums Receivable and Agents' Balances The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 7. Premiums Receivable and Agents' Balances Premiums Receivable and Agents' Balances As of March 31, 2026 As of December 31, 2025 Premiums receivable, excluding receivables for losses within a deductible and retrospectively-rated policy premiums ("loss sensitive business") $ 6,384 $ 5,948 Receivables for loss sensitive business, by credit quality: AA 97 98 A 75 76 BBB 188 206 BB 95 89 Below BB 43 41 Total receivables for loss sensitive business 498 510 Total Premiums Receivable and Agents' Balances, Gross 6,882 6,458 ACL ( 153 ) ( 142 ) Total Premiums Receivable and Agents' Balances, Net of ACL $ 6,729 $ 6,316 ACL on Premiums Receivable and Agents' Balances There have been no material changes to the ACL on premiums receivable and agents' balances in the three months ended March 31, 2026 and 2025. For further information regarding the Company's determination of premium receivable ACL, see Note 7 - Premiums Receivable and Agents' Balances of Notes to Consolidated Financial Statements included in the Company's 2025 Form 10-K Annual Report. Rollforward of ACL on Premiums Receivable and Agents' Balances for the Three Months Ended March 31, 2026 March 31, 2025 Receivables Excluding Loss Sensitive Business Receivables for Loss Sensitive Business Total Receivables Excluding Loss Sensitive Business Receivables for Loss Sensitive Business Total Beginning ACL $ 120 $ 22 $ 142 $ 97 $ 20 $ 117 Current period provision 30 1 31 23 1 24 Current period write-offs ( 20 ) ( 1 ) ( 21 ) ( 17 ) — ( 17 ) Current period recoveries 1 — 1 2 — 2 Ending ACL $ 131 $ 22 $ 153 $ 105 $ 21 $ 126 36 Table of Contents Note 8 - Reinsurance The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 8. Reinsurance Reinsurance Recoverables Reinsurance Recoverables by Credit Quality Indicator As of March 31, 2026 As of December 31, 2025 P&C Employee Benefits Corporate Total P&C Employee Benefits Corporate Total A.M. Best Financial Strength Rating A++ $ 2,112 $ — $ — $ 2,112 $ 2,161 $ — $ — $ 2,161 A+ 2,258 301 214 2,773 2,292 286 213 2,791 A 730 — — 730 764 1 — 765 A- 599 3 — 602 603 3 2 608 B++ 3 — 2 5 2 — — 2 Below B++ 21 — — 21 21 — — 21 Total Rated by A.M. Best 5,723 304 216 6,243 5,843 290 215 6,348 Mandatory (Assigned) and Voluntary Risk Pools 199 — — 199 204 — — 204 Captives 473 — — 473 465 — — 465 Other not rated companies 225 7 232 238 5 — 243 Gross Reinsurance Recoverables 6,620 311 216 7,147 6,750 295 215 7,260 Allowance for uncollectible reinsurance ( 68 ) ( 1 ) ( 2 ) ( 71 ) ( 66 ) ( 1 ) ( 2 ) ( 69 ) Net Reinsurance Recoverables $ 6,552 $ 310 $ 214 $ 7,076 $ 6,684 $ 294 $ 213 $ 7,191 Allowance for Uncollectible Reinsurance Three Months Ended March 31, 2026 2025 P&C beginning allowance for uncollectible reinsurance $ 66 $ 72 Beginning allowance for disputed amounts 42 48 P&C beginning ACL 24 24 Current period provision (release) ( 2 ) ( 4 ) Current period gross write-offs — — P&C ending ACL 22 20 Ending allowance for disputed amounts 46 52 P&C ending allowance for uncollectible reinsurance 68 72 Employee Benefits allowance for uncollectible reinsurance 1 1 Corporate allowance for uncollectible reinsurance 2 2 Total allowance for uncollectible reinsurance $ 71 $ 75 There have been no material changes to the allowance for uncollectible reinsurance in the three months ended March 31, 2026 and 2025. For further information regarding the Company's determination of reinsurance recoverables and reinsurance allowance for uncollectible reinsurance, see Note 8 - Reinsurance of Notes to Consolidated Financial Statements included in the Company's 2025 Form 10-K Annual Report. 37 Table of Contents Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 9. Reserve for Unpaid Losses and Loss Adjustment Expenses Property & Casualty Insurance Product Reserves, Net of Reinsurance Rollforward of Liabilities for Unpaid Losses and Loss Adjustment Expenses For the three months ended March 31, 2026 2025 Beginning liabilities for unpaid losses and loss adjustment expenses, gross $ 38,155 $ 36,404 Reinsurance and other recoverables 6,723 6,753 Beginning liabilities for unpaid losses and loss adjustment expenses, net 31,432 29,651 Provision for unpaid losses and loss adjustment expenses Current accident year 2,800 2,921 Prior accident year development [1] ( 41 ) ( 122 ) Total provision for unpaid losses and loss adjustment expenses 2,759 2,799 Change in deferred gain on retroactive reinsurance included in other liabilities [1] 36 32 Payments Current accident year ( 354 ) ( 458 ) Prior accident years ( 1,889 ) ( 1,696 ) Total payments ( 2,243 ) ( 2,154 ) Foreign currency adjustment ( 7 ) 13 Ending liabilities for unpaid losses and loss adjustment expenses, net 31,977 30,341 Reinsurance and other recoverables 6,628 6,764 Ending liabilities for unpaid losses and loss adjustment expenses, gross $ 38,605 $ 37,105 [1] Prior accident year development for the three months ended March 31, 2026 included a $ 36 benefit for amortization of a deferred gain under retroactive reinsurance accounting related to the asbestos and environmental adverse development cover ("A&E ADC"). Prior accident year development for the three months ended March 31, 2025 included a $ 32 benefit for amortization of a deferred gain under retroactive reinsurance accounting related to the Navigators Adverse Development Cover (the "Navigator's ADC"). The Navigators's ADC deferred gain has been fully amortized as of September 30, 2025. For additional information regarding the adverse development cover ("ADC") reinsurance agreements, refer to "Change in Deferred Gain on Retroactive Reinsurance" discussion below. 38 Table of Contents Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Unfavorable (Favorable) Prior Accident Year Development For the three months ended March 31, 2026 2025 Workers’ compensation $ ( 59 ) $ ( 65 ) Workers’ compensation discount accretion 12 12 General liability 70 — Marine 4 — Commercial property ( 4 ) ( 3 ) Professional liability ( 4 ) — Assumed reinsurance 5 — Personal automobile liability ( 15 ) ( 12 ) Homeowners ( 15 ) ( 18 ) Other reserve re-estimates, net 1 ( 4 ) Prior accident year development before change in deferred gain ( 5 ) ( 90 ) Change in deferred gain on retroactive reinsurance included in other liabilities [1] ( 36 ) ( 32 ) Total prior accident year development $ ( 41 ) $ ( 122 ) [1] The change in deferred gain on retroactive reinsurance for the three months ended March 31, 2026 included a $ 36 benefit for amortization of the A&E ADC deferred gain. The change in deferred gain on retroactive reinsurance for the three months ended March 31, 2025 included a $ 32 benefit for amortization of the Navigators ADC deferred gain. For additional information regarding the ADC reinsurance agreements, refer to "Change in Deferred Gain on Retroactive Reinsurance" discussion below. Re-estimates of prior accident year reserves for the three months ended March 31, 2026 Workers’ compensation reserves were decreased within accident years 2017 to 2021 in small business, driven by lower than previously estimated claim severity. General liability reserves were increased to reflect legacy sexual molestation and sexual abuse exposures related to polices written in the 1970s and 1980s, which includes a provision for a settlement in principle in one bankruptcy proceeding involving a religious institution. Personal automobile liability reserves were decreased primarily within accident years 2021 to 2023 as a result of lower than expected severity . Homeowners reserves were decreased primarily due to favorable severity impacting accident year 2025. Re-estimates of prior accident year reserves for the three months ended March 31, 2025 Workers’ compensation reserves were decreased within the 2016 to 2020 accident years primarily in small business, driven by lower than previously estimated claim severity. 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. 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. Change in Deferred Gain on Retroactive Reinsurance The Company has two ADC reinsurance agreements in place with National Indemnity Company ("NICO"), a subsidiary of Berkshire Hathaway Inc., both accounted for as retroactive reinsurance. One agreement covered substantially all asbestos and environmental ("A&E") reserve development for accident years prior to 2016 up to an aggregate limit of $ 1.5 billion and the other covered substantially all reserve development of Navigators Insurance Company and certain of its affiliates for 2018 and prior accident years up to an aggregate limit of $ 300 . As the Company had previously ceded all of the available limits under the agreements, there is no remaining limit available under either agreement as of March 31, 2026. During the three months ended March 31, 2026, the Company began collecting recoveries from NICO under the A&E ADC and, as a result, amortized $ 36 of the deferred gain within benefits, losses and loss adjustment expenses. The deferred gain on the A&E ADC was $ 814 and $ 850 , as of March 31, 2026 and December 31, 2025, respectively, and is included in other liabilities on the Condensed Consolidated Balance Sheets. During the first quarter of 2026, NICO suspended payment under the A&E ADC due to a dispute that is the subject of an arbitration proceeding. The timing of any resolution or outcome of the arbitration is not yet known and there may be impacts to the Company's cash flows or operating results as a result of the dispute. During the three months ended March 31, 2025, the Company collected recoveries from NICO under the Navigators ADC and, as a result, amortized $ 32 of the deferred gain within benefits, losses and loss adjustment expenses. As of September 30, 2025, the deferred gain on the Navigators ADC had been fully amortized and the limit fully collected. 39 Table of Contents Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Group Life, Disability and Accident Products Rollforward of Liabilities for Unpaid Losses and Loss Adjustment Expenses For the three months ended March 31, 2026 2025 Beginning liabilities for unpaid losses and loss adjustment expenses, gross $ 8,113 $ 8,206 Reinsurance recoverables 282 282 Beginning liabilities for unpaid losses and loss adjustment expenses, net 7,831 7,924 Provision for unpaid losses and loss adjustment expenses Current incurral year 1,379 1,376 Prior year's discount accretion 58 55 Prior incurral year development [1] ( 176 ) ( 197 ) Total provision for unpaid losses and loss adjustment expenses [2] 1,261 1,234 Payments Current incurral year ( 371 ) ( 382 ) Prior incurral years ( 893 ) ( 903 ) Total payments ( 1,264 ) ( 1,285 ) Ending liabilities for unpaid losses and loss adjustment expenses, net 7,828 7,873 Reinsurance recoverables 290 288 Ending liabilities for unpaid losses and loss adjustment expenses, gross $ 8,118 $ 8,161 [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. [2] Includes unallocated loss adjustment expenses ("ULAE") of $ 46 and $ 44 for the three months ended March 31, 2026 and 2025, respectively, that are recorded in insurance operating costs and other expenses in the Condensed Consolidated Statements of Operations . Re-estimates of prior incurral years reserves for the three months ended March 31, 2026 Group disability - Prior period reserve estimates decreased by approximately $ 134 driven by favorable long-term disability claim recoveries. Group life and accident (including group life premium waiver) - Prior period reserve estimates decreased by approximately $ 46 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. Re-estimates of prior incurral years reserves for the three months ended March 31, 2025 Group disability- Prior period reserve estimates decreased by approximately $ 156 largely driven by strong long-term disability claim recoveries. 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. 40 Table of Contents Note 10 - Reserve for Future Policy Benefits The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 10. Reserve for Future Policy Benefits Rollforward of Reserve for Future Policy Benefits For the three months ended March 31, 2026 2025 Payout Annuities Life Conversions Paid-up Life Payout Annuities Life Conversions Paid-up Life Present Value of Expected Net Premiums Balance, beginning of the period $ 43 $ 45 Balance, ending of the period $ 42 $ 43 Present Value of Expected Future Policy Benefits Beginning balance at single-A rate $ 123 $ 104 $ 165 $ 128 $ 106 $ 168 Beginning adjustment for changes in single-A rate 3 ( 15 ) ( 24 ) — ( 15 ) ( 33 ) Beginning balance at original discount rate 120 119 189 128 121 201 Effect of changes in cash flow assumptions — — — — — — Effect of actual variances from expected experience 1 2 — 1 2 ( 1 ) Adjusted beginning balance 121 121 189 129 123 200 Issuances — 1 12 — — — Interest accrual and other 1 3 1 1 5 1 Benefit Payments ( 3 ) ( 9 ) ( 4 ) ( 3 ) ( 10 ) ( 4 ) Ending balance at original discount rate 119 116 198 127 118 197 Ending adjustment for changes in single-A rate — ( 14 ) ( 25 ) 2 ( 14 ) ( 30 ) Ending balance at single-A rate $ 119 $ 102 $ 173 $ 129 $ 104 $ 167 Net reserve for future policy benefits $ 119 $ 60 $ 173 $ 129 $ 61 $ 167 Weighted-average duration of the reserve for future policy benefits (years) 9.2 11.0 5.8 9.5 11.0 6.4 Net Reserve for Future Policy Benefits As of March 31, 2026 2025 Payout Annuities $ 119 $ 129 Life Conversions 60 61 Paid-up Life 173 167 Deferred Profit Liability 17 16 Other 82 76 Total $ 451 $ 449 Undiscounted Expected Future Gross Premiums and Benefit Payments As of March 31, 2026 2025 Payout Annuities [1] Expected future benefit payments $ 234 $ 254 Life Conversions Expected future gross premiums $ 98 $ 103 Expected future benefit payments $ 186 $ 194 Paid-up Life [1] Expected future benefit payments $ 251 $ 256 [1] Payout Annuities and Paid-up Life have no expected future gross premiums. 41 Table of Contents Note 10 - Reserve for Future Policy Benefits The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Weighted-Average Interest Rates As of March 31, 2026 2025 Payout Annuities Interest accretion rate 5.6 % 5.6 % Current discount rate 5.5 % 5.4 % Life Conversions Interest accretion rate 4.3 % 4.3 % Current discount rate 5.7 % 5.5 % Paid-up Life Interest accretion rate 3.0 % 2.9 % Current discount rate 5.0 % 5.1 % Gross premiums and interest accretion recognized on long-duration insurance policies for the three months ended March 31, 2026 and 2025 were immaterial. 11. Other Policyholder Funds and Benefits Payable Other policyholder funds and benefits payable of $ 612 and $ 611 as of March 31, 2026 and 2025 respectively, included universal life long-duration contracts of $ 194 and $ 202 as well as policyholder balances related to short-duration contracts of $ 418 and $ 409 . 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 For the three months ended March 31, 2026 2025 Balance, beginning of the period $ 196 $ 206 Premiums Received 3 3 Policy Charges ( 5 ) ( 5 ) Surrenders and Withdrawals ( 1 ) ( 2 ) Benefit Payments ( 1 ) ( 2 ) Interest Credited 2 2 Balance, end of the period $ 194 $ 202 Weighted-average crediting rate 4.3 % 4.3 % Net Amount at Risk [1] $ 733 $ 809 Cash Surrender Value $ 192 $ 201 [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. As of March 31, 2026 and 2025, universal life contracts of $ 193 and $ 201 , respectively, had crediting rates at their guaranteed minimums ranging from 4 %- 5 % . 12. Income Taxes The effective tax rate was 19.0 % and 19.5 % for the three months ended March 31, 2026 and 2025, respectively. The effective tax rate differs from the U.S. federal statutory tax rate of 21 % primarily due to net excess tax benefits on stock-based compensation, tax credits and non-taxable net investment income. 42 Table of Contents Note 13 - Commitments and Contingencies The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 13. Commitments and Contingencies Management evaluates each contingent matter separately. A loss is recorded if probable and reasonably estimable. Management establishes liabilities for these contingencies at its “best estimate,” or, if no one number within the range of possible losses is more probable than any other, the Company records an estimated liability at the low end of the range of losses. Litigation The Hartford is involved in claims litigation arising in the ordinary course of business, both as a liability insurer defending or providing indemnity for third-party claims brought against insureds and as an insurer defending coverage and benefits claims brought against it. The Hartford accounts for such activity through the establishment of unpaid loss and loss adjustment expense reserves. Subject to the uncertainties related to sexual molestation and sexual abuse claims, including those discussed in Note 10 - Reserve for Unpaid Losses and Loss Adjustment Expenses, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in the following discussion under the caption “Run-off Asbestos and Environmental Claims,” management expects that the ultimate liability, if any, with respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, will not be material to the consolidated financial condition, results of operations or cash flows of The Hartford. The Hartford is also involved in other kinds of individual and class actions, some of which assert claims for substantial amounts. Individual actions may include claims alleging bad faith in the handling of insurance claims or other allegedly unfair or improper business practices and may seek punitive damages. In putative class actions, plaintiffs may be seeking certification of a state or national class and have alleged for example, underpayment of claims or improper sales or underwriting practices in connection with various kinds of insurance policies, such as personal and commercial automobile and property. Management expects that the ultimate liability, if any, with respect to such lawsuits, after consideration of provisions made for estimated losses, will not be material to the consolidated financial condition of The Hartford. Nonetheless, given the large or indeterminate amounts sought in certain of these actions, and the inherent unpredictability of litigation, the outcome in certain matters could, from time to time, have a material adverse effect on the Company’s results of operations or cash flows in particular quarterly or annual periods. Run-off Asbestos and Environmental Claims The Company continues to receive A&E claims. Asbestos claims relate primarily to bodily injuries asserted by people who came in contact with asbestos or products allegedly containing asbestos. Environmental claims relate primarily to pollution and related clean-up costs. The vast majority of the Company's exposure to A&E relates to accident years prior to 1986 that are reported in Property & Casualty Other Operations ("Run-off A&E"). In addition, since 1986, the Company has written A&E exposures under general liability policies and pollution liability under homeowners policies, which are reported in the Business Insurance and Personal Insurance segments, respectively. Prior to 1986, the Company wrote several different categories of insurance contracts that may cover A&E claims. First, the Company wrote primary policies providing the first layer of coverage in an insured’s liability program. Second, the Company wrote excess and umbrella policies providing higher layers of coverage for losses that exhaust the limits of underlying coverage. Third, the Company acted as a reinsurer assuming a portion of those risks assumed by other insurers writing primary, excess, umbrella and reinsurance coverages. Significant uncertainty limits the ability of insurers and reinsurers to estimate the ultimate reserves necessary for unpaid gross losses and expenses related to environmental and asbestos claims. The degree of variability of gross reserve estimates for these exposures is significantly greater than for other more traditional exposures. In the case of the reserves for asbestos exposures, factors contributing to the high degree of uncertainty include inadequate loss development patterns, plaintiffs’ expanding theories of liability, new targets, the risks inherent in major litigation, and inconsistent and emerging legal doctrines with respect to the underlying claims and with respect to the Company's coverage obligations. Furthermore, over time, insurers, including the Company, have experienced significant changes in the rate at which asbestos claims are brought, the claims experience of particular insureds, and the value of claims, making predictions of future exposure from past experience uncertain. Plaintiffs and insureds also have sought to use bankruptcy proceedings, including “pre-packaged” bankruptcies, to accelerate and increase loss payments by insurers. In addition, some policyholders have asserted new classes of claims for coverages to which an aggregate limit of liability may not apply. Management believes these issues are not likely to be resolved in the near future. In the case of the reserves for environmental exposures, factors contributing to the high degree of uncertainty include expanding theories of liability and damages against insureds, emerging risks from products and substances alleged to cause damage, such as per-and polyfluoroalkyl substances ("PFAS"), the risks inherent in major litigation, inconsistent and emerging legal doctrines concerning the existence and scope of coverage for environmental claims, and the scope and level of complexity of the remediation required by regulators. The reporting pattern for assumed reinsurance claims, including those related to A&E claims, is much longer than for direct claims. In many instances, it takes months or years to determine that the policyholder’s own obligations have been met and how the reinsurance in question may apply to such claims. The delay in reporting reinsurance claims and exposures adds to the uncertainty of estimating the related reserves. 43 Table of Contents Note 13 - Commitments and Contingencies The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) It is also not possible to predict changes in the legal and legislative environment and their effect on the future development of A&E claims. Further uncertainties include insolvencies of other carriers, insolvencies of insureds and unanticipated developments pertaining to the Company’s ability to recover reinsurance for A&E claims. Given the factors described above, the Company believes the actuarial tools and other techniques it employs to estimate the ultimate cost of claims for more traditional kinds of insurance exposure are less precise in estimating reserves for A&E exposures. For this reason, the Company principally relies on exposure-based analysis to estimate the ultimate costs of these claims, both gross and net of reinsurance, and regularly evaluates new account information in assessing its potential A&E exposures. 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. For its Run-off A&E claims, as of March 31, 2026, the Company reported $ 275 of net A&E reserves, net of the benefit of losses ceded to the A&E ADC with NICO. While the Company believes that its current Run-off A&E reserves are appropriate, significant uncertainties limit our ability to estimate the ultimate reserves necessary for unpaid losses and related expenses. The ultimate liabilities, thus, could exceed the currently recorded reserves, and any such additional liability, while not reasonably estimable now, could be material to The Hartford's consolidated operating results or liquidity. For more information on the A&E ADC, refer to Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements and Note 10 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Consolidated Financial Statements included in the Company's 2025 Form 10-K Annual Report. Derivative Commitments Certain of the Company’s derivative agreements contain provisions that are tied to the financial strength ratings, as set by nationally recognized statistical agencies, of the individual legal entity that entered into the derivative agreement. If the legal entity’s financial strength were to fall below certain ratings, the counterparties to the derivative agreements could, in certain instances, terminate the agreements and demand immediate settlement of all outstanding derivative positions traded under each impacted bilateral agreement. The settlement amount is determined by netting the derivative positions transacted under each agreement. If the termination rights were to be exercised by the counterparties, it could impact the legal entity’s ability to conduct hedging activities by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity. 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, 2026 was $ 33 for which the legal entities have posted collateral of $ 31 in the normal course of business. Based on derivative contractual terms as of March 31, 2026, 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. The nature of the additional collateral that we would post, if required, would be primarily in the form of U.S. Treasury bills, U.S. Treasury notes and government agency securities. 14. Equity Equity Repurchase Program During the three months ended March 31, 2026 and 2025, the Company repurchased $ 450 ( 3.3 million shares) and $ 400 ( 3.5 million shares), respectively, of common stock under Board authorized share repurchase programs covering the applicable periods. As of March 31, 2026, the Company has $ 1.1 billion remaining for equity repurchases under the current $ 3.3 billion share repurchase program, which is effective until December 31, 2026. During the period April 1, 2026 through April 22, 2026, the Company repurchased $ 111 ( 0.8 million common shares) under this repurchase program. The timing of any repurchases of shares is dependent on several factors, including the market price of the Company's securities, the Company's capital position, consideration of the effect of any repurchases on the Company's financial strength or credit ratings, the Company's blackout periods, and other considerations . 44 Table of Contents Note 15 - Accumulated Other Comprehensive Income (Loss) The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 15. Changes In and Reclassifications From Accumulated Other Comprehensive Income (Loss) Changes in AOCI, Net of Tax for the Three Months Ended March 31, 2026 Changes in 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, net of tax Beginning balance $ ( 641 ) $ ( 3 ) $ 16 $ 42 $ 24 $ ( 1,495 ) $ ( 2,057 ) OCI before reclassifications ( 479 ) — — 1 5 — ( 473 ) Amounts reclassified from AOCI 12 — ( 4 ) — — 11 19 OCI, before tax ( 467 ) — ( 4 ) 1 5 11 ( 454 ) Income tax benefit (expense) 97 — 1 — ( 1 ) ( 2 ) 95 OCI, net of tax ( 370 ) — ( 3 ) 1 4 9 ( 359 ) Ending balance $ ( 1,011 ) $ ( 3 ) $ 13 $ 43 $ 28 $ ( 1,486 ) $ ( 2,416 ) Reclassifications from AOCI Three Months Ended March 31, 2026 Affected Line Item in the Condensed Consolidated Statement of Operations Net Unrealized Gain (Loss) on Fixed Maturities, AFS Fixed Maturities, AFS $ ( 12 ) Net realized losses ( 12 ) Total before tax ( 3 ) Income tax expense $ ( 9 ) Net income Net Gain (Loss) on Cash Flow Hedging Instruments Interest rate swaps $ ( 1 ) Net investment income Interest rate swaps 2 Interest expense Foreign currency swaps 3 Net investment income 4 Total before tax 1 Income tax expense $ 3 Net income Pension and Other Postretirement Plan Adjustments Amortization of prior service credit $ 1 Insurance operating costs and other expenses Amortization of actuarial loss ( 12 ) Insurance operating costs and other expenses ( 11 ) Total before tax ( 2 ) Income tax expense $ ( 9 ) Net income Total amounts reclassified from AOCI $ ( 15 ) Net income 45 Table of Contents Note 15 - Accumulated Other Comprehensive Income (Loss) The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) Changes in AOCI, Net of Tax for the Three Months Ended March 31, 2025 Changes in 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, net of tax Beginning balance $ ( 1,539 ) $ ( 6 ) $ 40 $ 29 $ 33 $ ( 1,443 ) $ ( 2,886 ) OCI before reclassifications 372 — 4 — ( 4 ) 2 374 Amounts reclassified from AOCI 10 — ( 4 ) — — 7 13 OCI, before tax 382 — — — ( 4 ) 9 387 Income tax benefit (expense) ( 80 ) — — — 1 ( 2 ) ( 81 ) OCI, net of tax 302 — — — ( 3 ) 7 306 Ending balance $ ( 1,237 ) $ ( 6 ) $ 40 $ 29 $ 30 $ ( 1,436 ) $ ( 2,580 ) Reclassifications from AOCI Three Months Ended March 31, 2025 Affected Line Item in the Condensed Consolidated Statement of Operations Net Unrealized Gain (Loss) on Fixed Maturities, AFS Fixed Maturities, AFS $ ( 10 ) Net realized losses ( 10 ) Total before tax ( 2 ) Income tax expense $ ( 8 ) Net income Net Gain (Loss) on Cash Flow Hedging Instruments Interest rate swaps $ ( 2 ) Net investment income Interest rate swaps 3 Interest expense Foreign currency swaps 3 Net investment income 4 Total before tax 1 Income tax expense $ 3 Net income Pension and Other Postretirement Plan Adjustments Amortization of prior service credit $ 2 Insurance operating costs and other expenses Amortization of actuarial loss ( 9 ) Insurance operating costs and other expenses ( 7 ) Total before tax ( 1 ) Income tax expense $ ( 6 ) Net income Total amounts reclassified from AOCI $ ( 11 ) Net income 46 Table of Contents Note 16 - Employee Benefit Plans The Hartford Insurance Group, Inc. Notes To Condensed Consolidated Financial Statements (continued) 16. Employee Benefit Plans The Company’s employee benefit plans are described in Note 18 - Employee Benefit Plans of Notes to Consolidated Financial Statements included in The Hartford’s 2025 Form 10-K Annual Report. Net periodic cost (benefit) is recognized in insurance operating costs and other expenses in the Condensed Consolidated Statement of Operations. The Company has not determined whether, and to what extent, contributions may be made to the U.S. qualified defined benefit pension plan in 2026. The Company will monitor the funded status of the U.S. qualified defined benefit pension plan during 2026 to make this determination. Net Periodic Cost (Benefit) Pension Benefits Other Postretirement Benefits Three Months Ended March 31, Three Months Ended March 31, 2026 2025 2026 2025 Service cost $ 1 $ — $ — $ — Interest cost 40 44 1 2 Expected return on plan assets ( 58 ) ( 60 ) — — Amortization of prior service credit — — ( 1 ) ( 2 ) Amortization of actuarial loss 11 8 1 1 Net periodic cost (benefit) $ ( 6 ) $ ( 8 ) $ 1 $ 1 47 Table of Contents Index to MD&A Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations