The Hartford/2025/FY/Investor Financial Supplement

Document info
Document info
Organization	The Hartford
Year	2025
Period	FY
Period label	FY25
Document type	Earnings presentation
Publication date	2026-02-19
Language	English
Pages	45
Source	Original URL

This document is The Hartford's Investor Financial Supplement for the full-year 2025, published on 19 February 2026.

Consolidated financial results

The Hartford

Reporting period: Investor Financial Supplement as of December 31, 2025 ^{p. 1}
Non-GAAP financial measures not based on generally accepted accounting principles are denoted with an asterisk (*) the first time they appear in the document ^{p. 1}
Reconciliation of measures to the most directly comparable GAAP measures is provided within the Discussion of Non-GAAP Financial Measures section ^{p. 1}

The Hartford Insurance Group, Inc.

Stock trading: Common stock and preferred stock are traded on the New York Stock Exchange under the symbols "HIG" and "HIG PR G", respectively ^{p. 2}.
Address: One Hartford Plaza, Hartford, CT 06155 ^{p. 2}.
Internet address: http://www.thehartford.com ^{p. 2}.
Contact: Kate Jorens, SVP, Treasurer & Head of Investor Relations; Phone (860) 547-4066 ^{p. 2}.
Rating outlooks:
- Hartford Fire Insurance Company and Hartford Life and Accident Insurance Company ratings are on stable outlook at A.M. Best, Standard and Poor's and Moody's ^{p. 2}.
- Navigators Insurance Company ratings are on stable outlook at A.M. Best and Standard and Poor's ^{p. 2}.
- The Hartford Insurance Group, Inc. senior debt, junior subordinated debentures, and preferred stock are on stable outlook at A.M. Best, Standard and Poor's and Moody's ^{p. 2}.

Insurance financial strength and other ratings as of January 28, 2026 ^{p. 2}
Rating Type / Issuer	A.M. Best	Standard & Poor's	Moody's
Insurance Financial Strength Ratings:	—	—	—
Hartford Fire Insurance Company	A+	AA-	Aa3
Hartford Life and Accident Insurance Company	A+	AA-	A1
Navigators Insurance Company	A+	AA-	NR
Other Ratings:	—	—	—
Senior debt	a	A-	A3
Junior subordinated debentures	bbb+	BBB	Baa1
Preferred stock	bbb+	BBB	Baa2

Note: NR = Not Rated

Transfer agent contact information ^{p. 2}
Stockholder Correspondence	Overnight Correspondence
Computershare P.O. Box 505000 Louisville, KY 40233	Computershare 462 South 4th Street, Suite 1600 Louisville, KY 40202

The Hartford Insurance Group, Inc.

Table of Contents: Investor Financial Supplement ^{p. 3}
Category	Topic	Page
Consolidated	Consolidated Financial Results	1
—	Consolidated Statements of Operations	2
—	Operating Results by Segment	3
—	Consolidating Balance Sheets	4
—	Capital Structure	5
—	Statutory Capital to GAAP Stockholders' Equity Reconciliation	6
—	Accumulated Other Comprehensive Income (Loss)	7
Property & Casualty	Property & Casualty Income Statements	8
—	Property & Casualty Income Statements (Continued)	9
—	Property & Casualty Underwriting Ratios	10
—	Business Insurance Income Statements	11
—	Business Insurance Income Statements (Continued)	12
—	Business Insurance Underwriting Ratios	13
—	Business Insurance Supplemental Data	14
—	Personal Insurance Income Statements	15
—	Personal Insurance Income Statements (Continued)	16
—	Personal Insurance Underwriting Ratios	17
—	Personal Insurance Supplemental Data	18
—	Personal Insurance Supplemental Data (Continued)	19
—	P&C Other Operations Income Statements	20
Employee Benefits	Income Statements	21
—	Supplemental Data	22
Hartford Funds	Income Statements	23
—	Asset Value Rollforward - Assets Under Management By Asset Class	24
Corporate	Income Statements	25
Investments	Investment Income Before Tax - Consolidated	26
—	Investment Income Before Tax - Property & Casualty	27
—	Investment Income Before Tax - Employee Benefits	28
—	Net Investment Income	29
—	Components of Net Realized Gains (Losses)	30
—	Composition of Invested Assets	31
—	Invested Asset Exposures	32
Appendix	Basis of Presentation and Definitions	33
—	Discussion of Non-GAAP Financial Measures	34

Consolidated financial results, per share data, and return on equity for the three months and years ended December 31, 2025 and 2024 ^{p. 1}
USD million (unless otherwise mentioned)	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025	Dec 31 2024
Highlights	—	—	—	—	—	—	—	—	—	—
Net income	1,131	1,080	995	630	853	767	738	753	3,836	3,111
Net income available to common stockholders [1]	1,126	1,074	990	625	848	761	733	748	3,815	3,090
Core earnings*	1,148	1,077	981	639	865	752	750	709	3,845	3,076
Total revenues	7,339	7,232	6,987	6,810	6,879	6,751	6,486	6,419	28,368	26,535
Total assets	85,997	84,995	83,639	82,307	80,917	81,219	79,046	77,710	—	—
Per Share and Shares Data	—	—	—	—	—	—	—	—	—	—
Basic earnings per common share	—	—	—	—	—	—	—	—	—	—
Net income available to common stockholders	$4.05	$3.82	$3.49	$2.18	$2.93	$2.60	$2.48	$2.51	$13.51	$10.51
Core earnings*	$4.13	$3.83	$3.46	$2.23	$2.99	$2.57	$2.54	$2.38	$13.62	$10.47
Diluted earnings per common share	—	—	—	—	—	—	—	—	—	—
Net income available to common stockholders	$3.98	$3.77	$3.44	$2.15	$2.88	$2.56	$2.44	$2.47	$13.32	$10.35
Core earnings*	$4.06	$3.78	$3.41	$2.20	$2.94	$2.53	$2.50	$2.34	$13.42	$10.30
Weighted average common shares outstanding (basic)	278.3	280.9	283.7	286.6	289.3	292.6	295.5	298.1	282.4	293.9
Dilutive effect of stock compensation	4.3	4.1	4.0	4.2	4.9	4.9	4.4	4.5	4.1	4.7
Weighted average common shares outstanding and dilutive potential common shares (diluted)	282.6	285.0	287.7	290.8	294.2	297.5	299.9	302.6	286.5	298.6
Common shares outstanding	276.9	279.6	282.3	285.1	287.6	290.8	294.0	296.8	—	—
Book value per common share	$67.33	$64.79	$60.87	$57.91	$56.03	$57.34	$52.20	$50.99	—	—
Per common share impact of accumulated other comprehensive income [2]	7.43	7.17	8.45	9.05	10.03	6.89	10.43	10.10	—	—
Book value per common share (excluding AOCI)*	$74.76	$71.96	$69.32	$66.96	$66.06	$64.23	$62.63	$61.09	—	—
Book value per diluted share	$66.31	$63.86	$60.02	$57.07	$55.09	$56.39	$51.43	$50.23	—	—
Per diluted share impact of AOCI	7.31	7.06	8.33	8.92	9.86	6.78	10.28	9.95	—	—
Book value per diluted share (excluding AOCI)*	$73.62	$70.92	$68.35	$65.99	$64.95	$63.17	$61.71	$60.18	—	—
Common shares outstanding and dilutive potential common shares	281.2	283.7	286.3	289.3	292.5	295.7	298.4	301.3	—	—
Return on Common Stockholders' Equity ("ROE") [3]	—	—	—	—	—	—	—	—	—	—
Net income available to common stockholders' ROE ("Net income ROE")	22.0%	20.3%	19.8%	18.8%	19.9%	20.0%	19.8%	18.5%	—	—
Core earnings ROE*	19.4%	18.4%	17.0%	16.2%	16.7%	17.4%	17.4%	16.6%	—	—

> [1] Net income available to common stockholders includes the impact of preferred stock dividends. ^{p. 1}

> [2] Accumulated other comprehensive income ("AOCI") represents net of tax unrealized gain (loss) on fixed maturities, net gain (loss) on cash flow hedging instruments, foreign currency translation adjustments, liability for future policy benefits adjustments, and pension and other postretirement benefit plan adjustments. ^{p. 1}

> [3] For reconciliation of Net income ROE to Core earnings ROE, see Appendix beginning on page 33. ^{p. 1}

* Denotes financial measure that is non-GAAP ^{p. 1}

The Hartford Insurance Group, Inc. Consolidated Statements of Operations ^{p. 5}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Earned premiums	6,141	6,093	5,961	5,835	5,809	5,734	5,578	5,446	24,030	22,567
Fee income	368	361	342	346	354	347	339	333	1,417	1,373
Net investment income	832	759	664	656	714	659	602	593	2,911	2,568
Net realized gains (losses)	-29	-12	-10	-49	-17	-13	-59	28	-100	-61
Other revenues	27	31	30	22	19	24	26	19	110	88
Total revenues	7,339	7,232	6,987	6,810	6,879	6,751	6,486	6,419	28,368	26,535
Benefits, losses and loss adjustment expenses	3,733	3,793	3,712	4,000	3,779	3,823	3,661	3,611	15,238	14,874
Amortization of deferred policy acquisition costs ("DAC")	645	639	625	607	591	585	561	545	2,516	2,282
Insurance operating costs and other expenses	1,481	1,414	1,337	1,352	1,367	1,323	1,285	1,283	5,584	5,258
Interest expense	49	50	50	50	50	49	50	50	199	199
Amortization of other intangible assets	18	18	17	18	18	18	17	18	71	71
Restructuring and other costs [1]	—	—	—	—	—	1	—	1	—	2
Total benefits, losses and expenses	5,926	5,914	5,741	6,027	5,805	5,799	5,574	5,508	23,608	22,686
Income before income taxes	1,413	1,318	1,246	783	1,074	952	912	911	4,760	3,849
Income tax expense	282	238	251	153	221	185	174	158	924	738
Net income	1,131	1,080	995	630	853	767	738	753	3,836	3,111
Preferred stock dividends	5	6	5	5	5	6	5	5	21	21
Net income available to common stockholders	1,126	1,074	990	625	848	761	733	748	3,815	3,090
Adjustments to reconcile net income available to common stockholders to core earnings:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	29	10	10	47	16	12	58	-30	96	56
Restructuring and other costs, before tax [1]	—	—	—	—	—	1	—	1	—	2
Integration and other non-recurring M&A costs, before tax [2]	1	2	2	2	2	2	2	2	7	8
Change in deferred gain on retroactive reinsurance, before tax [3]	—	-8	-24	-32	4	-26	-37	-24	-64	-83
Income tax expense (benefit) [4]	-8	-1	3	-3	-5	2	-6	12	-9	3
Core earnings	1,148	1,077	981	639	865	752	750	709	3,845	3,076

[1] Represents restructuring costs related to the Company's Hartford Next operational transformation and cost reduction plan ^{p. 5}.
[2] Includes integration costs in connection with the 2019 acquisition of Navigators Group ^{p. 5}.
[3] The Company recorded amortization of the deferred gain related to the Navigators adverse development cover ("Navigators ADC") of USD 64m for the year ended December 31, 2025 and USD 58m and USD 145m for the three months and the year ended December 31, 2024, respectively ^{p. 5}. The deferred gain has been fully amortized as of September 30, 2025 ^{p. 5}. In addition, for the three and twelve month periods ended December 31, 2024, the Company ceded USD 62m of losses under the asbestos and environmental adverse development cover ("A&E ADC"), which was reflected as an increase to the deferred gain ^{p. 5}.
[4] Primarily represents federal income tax expense (benefit) related to before tax items not included in core earnings ^{p. 5}.

Consolidated operating results ^{p. 3}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Earned premiums	6,141	6,093	5,961	5,835	5,809	5,734	5,578	5,446	24,030	22,567
Fee income	368	361	342	346	354	347	339	333	1,417	1,373
Net investment income	832	759	664	656	714	659	602	593	2,911	2,568
Net realized gains (losses)	-29	-12	-10	-49	-17	-13	-59	28	-100	-61
Other revenues	27	31	30	22	19	24	26	19	110	88
Total revenues	7,339	7,232	6,987	6,810	6,879	6,751	6,486	6,419	28,368	26,535
Benefits, losses and loss adjustment expenses	3,733	3,793	3,712	4,000	3,779	3,823	3,661	3,611	15,238	14,874
Amortization of deferred policy acquisition costs ("DAC")	645	639	625	607	591	585	561	545	2,516	2,282
Insurance operating costs and other expenses	1,481	1,414	1,337	1,352	1,367	1,323	1,285	1,283	5,584	5,258
Interest expense	49	50	50	50	50	49	50	50	199	199
Amortization of other intangible assets	18	18	17	18	18	18	17	18	71	71
Restructuring and other costs [1]	-	-	-	-	-	1	-	1	-	2
Total benefits, losses and expenses	5,926	5,914	5,741	6,027	5,805	5,799	5,574	5,508	23,608	22,686
Income before income taxes	1,413	1,318	1,246	783	1,074	952	912	911	4,760	3,849
Income tax expense	282	238	251	153	221	185	174	158	924	738
Net income	1,131	1,080	995	630	853	767	738	753	3,836	3,111
Preferred stock dividends	5	6	5	5	5	6	5	5	21	21
Net income available to common stockholders	1,126	1,074	990	625	848	761	733	748	3,815	3,090
Adjustments to reconcile to core earnings:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	29	10	10	47	16	12	58	-30	96	56
Restructuring and other costs, before tax [1]	-	-	-	-	-	1	-	1	-	2
Integration and other non-recurring M&A costs, before tax [2]	1	2	2	2	2	2	2	2	7	8
Change in deferred gain on retroactive reinsurance, before tax [3]	-	-8	-24	-32	4	-26	-37	-24	-64	-83
Income tax expense (benefit) [4]	-8	-1	3	-3	-5	2	-6	12	-9	3
Core earnings	1,148	1,077	981	639	865	752	750	709	3,845	3,076

Operating results by segment ^{p. 3}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net income (loss):	—	—	—	—	—	—	—	—	—	—
Business Insurance	897	710	696	477	708	528	540	573	2,780	2,349
Personal Insurance	212	139	91	5	154	31	-11	34	447	208
P&C Other Operations	-141	12	13	13	-156	10	11	8	-103	-127
Property & Casualty ("P&C")	968	861	800	495	706	569	540	615	3,124	2,430
Employee Benefits	130	144	150	133	126	156	171	108	557	561
Hartford Funds	59	57	54	43	49	54	44	45	213	192
Sub-total	1,157	1,062	1,004	671	881	779	755	768	3,894	3,183
Corporate	-26	18	-9	-41	-28	-12	-17	-15	-58	-72
Net income	1,131	1,080	995	630	853	767	738	753	3,836	3,111
Preferred stock dividends	5	6	5	5	5	6	5	5	21	21
Net income available to common stockholders	1,126	1,074	990	625	848	761	733	748	3,815	3,090
Core earnings (loss):	—	—	—	—	—	—	—	—	—	—
Business Insurance	915	723	697	471	665	534	551	546	2,806	2,296
Personal Insurance	214	143	94	6	155	33	-4	33	457	217
P&C Other Operations	-140	14	14	13	-106	10	14	7	-99	-75
P&C	989	880	805	490	714	577	561	586	3,164	2,438
Employee Benefits	138	149	163	136	139	154	178	107	586	578
Hartford Funds	58	53	46	44	51	47	43	41	201	182
Sub-total	1,185	1,082	1,014	670	904	778	782	734	3,951	3,198
Corporate	-37	-5	-33	-31	-39	-26	-32	-25	-106	-122
Core earnings	1,148	1,077	981	639	865	752	750	709	3,845	3,076

[1] Restructuring and other costs include costs associated with corporate initiatives ^{p. 3}.
[2] Integration and other non-recurring M&A costs before tax are excluded from core earnings ^{p. 3}.
[3] Change in deferred gain on retroactive reinsurance represents the net impact of retroactive reinsurance transactions ^{p. 3}.
[4] Income tax expense (benefit) represents the tax impact of non-core adjustments ^{p. 3}.

Consolidating balance sheets as of December 31, 2025 and December 31, 2024 ^{p. 4}
USD million	Property & Casualty Dec 31 2025	Property & Casualty Dec 31 2024	Employee Benefits Dec 31 2025	Employee Benefits Dec 31 2024	Hartford Funds Dec 31 2025	Hartford Funds Dec 31 2024	Corporate [1] Dec 31 2025	Corporate [1] Dec 31 2024	Consolidated Dec 31 2025	Consolidated Dec 31 2024
Investments:	—	—	—	—	—	—	—	—	—	—
Fixed maturities, available-for-sale ("AFS"), at fair value	37,689	34,421	8,157	7,959	—	—	195	187	46,041	42,567
Fixed maturities, at fair value using the fair value option	127	254	41	54	—	—	—	—	168	308
Equity securities, at fair value	121	212	23	46	70	109	278	236	492	603
Mortgage loans, net	5,263	4,751	1,574	1,645	—	—	—	—	6,837	6,396
Limited partnerships and other alternative investments	4,503	3,974	1,186	1,068	—	—	115	—	5,804	5,042
Other investments	212	168	6	6	44	52	—	—	262	226
Short-term investments	2,104	2,075	365	389	385	291	1,499	1,313	4,353	4,068
Total investments	50,019	45,855	11,352	11,167	499	452	2,087	1,736	63,957	59,210
Cash	117	148	—	26	11	9	5	—	133	183
Restricted cash	42	42	2	9	—	—	—	—	44	51
Accrued investment income	378	352	94	92	1	1	1	5	474	450
Premiums receivable and agents' balances, net	5,727	5,390	589	608	—	—	—	—	6,316	5,998
Reinsurance recoverables, net [2]	6,684	6,626	294	290	—	—	213	224	7,191	7,140
Deferred policy acquisition costs ("DAC")	1,309	1,206	38	33	—	—	—	—	1,347	1,239
Deferred income taxes	485	746	-32	33	—	—	448	448	901	1,229
Goodwill	778	778	723	723	181	181	229	229	1,911	1,911
Property and equipment, net	825	778	59	62	4	6	43	42	931	888
Other intangible assets	280	310	276	317	10	10	—	—	566	637
Other assets	1,627	1,411	169	142	106	100	324	328	2,226	1,981
Total assets	68,271	63,642	13,564	13,502	812	761	3,350	3,012	85,997	80,917
Unpaid losses and loss adjustment expenses	38,155	36,404	8,113	8,206	—	—	—	—	46,268	44,610
Reserves for future policy benefits [2]	—	—	291	290	—	—	153	158	444	448
Other policyholder funds and benefits payable [2]	—	—	409	401	—	—	203	213	612	614
Unearned premiums	10,012	9,368	41	40	—	—	—	—	10,053	9,408
Debt	—	—	—	—	—	—	4,371	4,366	4,371	4,366
Other liabilities	3,064	2,796	227	219	176	173	1,803	1,836	5,270	5,024
Total liabilities	51,231	48,568	9,081	9,156	176	173	6,530	6,573	67,018	64,470
Common stockholders' equity, excluding AOCI*	17,450	16,206	4,678	4,706	636	588	-2,062	-2,501	20,702	18,999
Preferred stock	—	—	—	—	—	—	334	334	334	334
AOCI, net of tax	-410	-1,132	-195	-360	—	—	-1,452	-1,394	-2,057	-2,886
Total stockholders' equity	17,040	15,074	4,483	4,346	636	588	-3,180	-3,561	18,979	16,447
Total liabilities and stockholders' equity	68,271	63,642	13,564	13,502	812	761	3,350	3,012	85,997	80,917

Corporate holding company assets include fixed maturities, short-term investments, investment sales receivable, and cash of approximately USD 1.5bn as of December 31, 2025 (prior: USD 1.3bn as of December 31, 2024) ^{p. 4}.
Corporate segment investments include assets held by Hartford Life and Accident Insurance Company ("HLA") supporting reserves for run-off structured settlement and terminal funding agreement liabilities ^{p. 4}.
Corporate segment liabilities include retained reserves and reinsurance recoverables for the run-off life and annuity business sold in May 2018 ^{p. 4}.

The Hartford Insurance Group, Inc. capital structure and debt-to-capitalization ratios ^{p. 5}
USD million unless otherwise mentioned	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024
Debt	—	—	—	—	—	—	—	—
Senior notes	3,872	3,871	3,870	3,869	3,867	3,866	3,865	3,864
Junior subordinated debentures	499	499	499	499	499	499	499	499
Total debt	4,371	4,370	4,369	4,368	4,366	4,365	4,364	4,363
Stockholders' Equity	—	—	—	—	—	—	—	—
Total stockholders' equity	18,979	18,450	17,518	16,844	16,447	17,008	15,680	15,468
Less: Preferred stock	334	334	334	334	334	334	334	334
Less: AOCI	-2,057	-2,003	-2,384	-2,580	-2,886	-2,005	-3,068	-2,997
Common stockholders' equity, excluding AOCI	20,702	20,119	19,568	19,090	18,999	18,679	18,414	18,131
Capitalization	—	—	—	—	—	—	—	—
Total capitalization, including AOCI, net of tax	23,350	22,820	21,887	21,212	20,813	21,373	20,044	19,831
Total capitalization, excluding AOCI, net of tax*	25,407	24,823	24,271	23,792	23,699	23,378	23,112	22,828
Debt to Capitalization Ratios	—	—	—	—	—	—	—	—
Total debt to capitalization, including AOCI	18.7%	19.1%	20.0%	20.6%	21.0%	20.4%	21.8%	22.0%
Total debt to capitalization, excluding AOCI*	17.2%	17.6%	18.0%	18.4%	18.4%	18.7%	18.9%	19.1%
Total debt and preferred stock to capitalization, including AOCI	20.1%	20.6%	21.5%	22.2%	22.6%	22.0%	23.4%	23.7%
Total debt and preferred stock to capitalization, excluding AOCI*	18.5%	19.0%	19.4%	19.8%	19.8%	20.1%	20.3%	20.6%
Total rating agency adjusted debt to capitalization [1] [2]	19.5%	20.0%	20.8%	21.5%	21.8%	21.3%	22.7%	22.9%
Fixed Charge Coverage Ratios	—	—	—	—	—	—	—	—
Total earnings to total fixed charges [3]	21.6:1	20.3:1	18.8:1	14.7:1	17.9:1	17.3:1	17.1:1	17.1:1

Leverage calculation adjustments reflect defined benefit plans' unfunded pension liability, lease liabilities, and uncollateralized letters of credit for Lloyd's of London totaling USD 0.3bn as of both Dec 31, 2025 and Dec 31, 2024 ^{p. 5}.
Equity credit of 50% is applied to outstanding junior subordinated debentures and preferred stock based on rating agency methodology ^{p. 5}.
Fixed charge coverage ratio improved to 21.6:1 as of Dec 31, 2025, up from 17.9:1 as of Dec 31, 2024 ^{p. 5}.

The Hartford Insurance Group, Inc. Statutory capital to GAAP stockholders' equity reconciliation December 31, 2025

Statutory capital to GAAP stockholders' equity reconciliation for P&C and Employee Benefits as of December 31, 2025 ^{p. 9}
USD	P&C	Employee Benefits
U.S. statutory net income [1][2]	2,870	566
U.S. statutory capital [2][3][4]	14,437	2,674
U.S. GAAP adjustments [2]:	—	—
DAC	1,258	38
Non-admitted deferred tax assets [5]	233	145
Deferred taxes [6]	-476	-343
Goodwill	116	723
Other intangible assets	13	276
Non-admitted assets other than deferred taxes	902	110
Asset valuation and interest maintenance reserve	—	265
Benefit reserves	-60	416
Unrealized losses on investments	-564	-571
Deferred gain on retroactive reinsurance agreements [7]	-850	—
Other, net	861	750
U.S. GAAP stockholders' equity of U.S. insurance entities [2]	15,870	4,483
U.S. GAAP stockholders' equity of international subsidiaries as well as goodwill and other intangible assets related to the acquisition of Navigators Group	1,170	—
Total U.S. GAAP stockholders' equity	17,040	4,483

[1] Statutory net income is for the year ended December 31, 2025 ^{p. 9}.
[2] Excludes insurance operations based in the U.K. ^{p. 9}.
[3] For reporting purposes, statutory capital and surplus is referred to collectively as statutory capital ^{p. 9}.
[4] The statutory capital for property and casualty insurance subsidiaries in this table does not include the value of an intercompany note owed by Hartford Holdings, Inc. ("HHI") to Hartford Fire Insurance Company ^{p. 9}.
[5] Represents the limitations on the recognition of deferred tax assets under U.S. statutory accounting principles ("U.S. STAT") ^{p. 9}.
[6] Represents the tax timing differences between U.S. GAAP and U.S. STAT ^{p. 9}.
[7] Represents the deferred gain on retroactive reinsurance associated with U.S. entities for losses ceded to the asbestos and environmental adverse development cover ("A&E ADC") agreement that is recognized within a special category of surplus under U.S. STAT but is recorded within other liabilities under U.S. GAAP ^{p. 9}.

The Hartford Insurance Group, Inc. Accumulated other comprehensive income (loss)

Accumulated Other Comprehensive Income (Loss) ^{p. 10}
USD million	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024
Net unrealized loss on fixed maturities, AFS	-641	-656	-1,029	-1,237	-1,539	-671	-1,732	-1,642
Unrealized loss on fixed maturities, AFS with allowance for credit losses ("ACL")	-3	-3	-5	-6	-6	-5	-7	-7
Net gains on cash flow hedging instruments	16	15	6	40	40	33	30	21
Total net unrealized gain (loss)	-628	-644	-1,028	-1,203	-1,505	-643	-1,709	-1,628
Foreign currency translation adjustments	42	43	45	29	29	41	35	36
Liability for future policy benefits adjustments	24	22	29	30	33	19	35	30
Pension and other postretirement plan adjustments	-1,495	-1,424	-1,430	-1,436	-1,443	-1,422	-1,429	-1,435
Total AOCI	-2,057	-2,003	-2,384	-2,580	-2,886	-2,005	-3,068	-2,997

The Hartford Insurance Group, Inc. Property & Casualty

Property & Casualty income statements and ROE metrics ^{p. 11}
USD million unless otherwise mentioned	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025 (Year Ended)	Dec 31 2024 (Year Ended)
Written premiums	4,231	4,560	4,796	4,599	4,045	4,245	4,453	4,206	18,186	16,949
Change in unearned premium reserve	-309	70	441	376	-164	111	483	345	578	775
Earned premiums	4,540	4,490	4,355	4,223	4,209	4,134	3,970	3,861	17,608	16,174
Fee income	20	19	19	19	19	19	19	19	77	76
Losses and loss adjustment expenses	—	—	—	—	—	—	—	—	—	—
- Current accident year before catastrophes	2,564	2,661	2,537	2,454	2,426	2,464	2,347	2,300	10,216	9,537
- Current accident year catastrophes	-1	70	212	467	80	247	280	161	748	768
- Prior accident year development [1]	-12	-103	-187	-122	101	-50	-115	-56	-424	-120
Total losses and loss adjustment expenses	2,551	2,628	2,562	2,799	2,607	2,661	2,512	2,405	10,540	10,185
Amortization of DAC	637	631	616	599	583	577	552	536	2,483	2,248
Insurance operating costs	767	728	681	696	689	669	655	642	2,872	2,655
Amortization of other intangible assets	8	8	7	8	8	8	7	8	31	31
Dividends to policyholders	11	12	11	10	10	10	9	10	44	39
Underwriting gain*	586	502	497	130	331	228	254	279	1,715	1,092
Net investment income	656	605	526	512	562	518	471	459	2,299	2,010
Net realized gains (losses)	-25	-30	-26	-26	-9	-34	-61	13	-107	-91
Net servicing and other income (expense)	2	3	4	4	2	—	5	2	13	9
Income before income taxes	1,219	1,080	1,001	620	886	712	669	753	3,920	3,020
Income tax expense	251	219	201	125	180	143	129	138	796	590
Net income	968	861	800	495	706	569	540	615	3,124	2,430
Adjustments to reconcile net income to core earnings:	—	—	—	—	—	—	—	—	—	—
- Net realized losses (gains), excluded from core earnings, before tax	24	28	28	24	6	33	62	-15	104	86
- Integration and other non-recurring M&A costs, before tax	1	2	2	2	2	2	2	2	7	8
- Change in deferred gain on retroactive reinsurance, before tax [1]	—	-8	-24	-32	4	-26	-37	-24	-64	-83
- Income tax expense (benefit) [2]	-4	-3	-1	1	-4	-1	-6	8	-7	-3
Core earnings	989	880	805	490	714	577	561	586	3,164	2,438
ROE	—	—	—	—	—	—	—	—	—	—
Net income available to common stockholders [3]	23.7%	21.5%	20.6%	18.8%	20.5%	19.9%	19.9%	18.5%	—	—
Adjustments to reconcile net income available to common stockholders to core earnings:	—	—	—	—	—	—	—	—	—	—
- Net realized losses (gains), excluded from core earnings, before tax	0.8%	0.7%	0.8%	1.1%	0.8%	1.1%	1.2%	1.1%	—	—
- Integration and other non-recurring M&A costs, before tax	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	—	—
- Change in deferred gain on retroactive reinsurance, before tax [1]	(0.5%)	(0.5%)	(0.7%)	(0.8%)	(0.7%)	1.0%	1.3%	1.6%	—	—
- Income tax benefit [2]	(0.1%)	(0.1%)	—%	(0.1%)	—%	(0.4%)	(0.5%)	(0.6%)	—	—
- Impact of AOCI, excluded from core earnings ROE	(1.6%)	(1.0%)	(2.0%)	(1.8%)	(2.3%)	(2.7%)	(3.1%)	(2.6%)	—	—
Core earnings [3]	22.4%	20.7%	18.8%	17.3%	18.4%	19.0%	18.9%	18.1%	—	—

Change in deferred gain on retroactive reinsurance details are referenced on page 2 ^{p. 11}.
Income tax expense (benefit) adjustments primarily represent federal income tax related to before-tax items excluded from core earnings ^{p. 11}.
ROE calculations for Net income ROE and Core earnings ROE allocate a portion of Corporate debt, interest expense, preferred stock, and preferred stock dividends to Property & Casualty ^{p. 11}.

The Hartford Insurance Group, Inc. Property & Casualty income statements (continued)

Prior accident year development details showing unfavorable (favorable) reserve development across lines of business ^{p. 9}.
Asbestos and environmental (A&E) reserves reviewed in Q4 2025 and Q4 2024; 2025 study resulted in a reserve increase of USD 165m, while the 2024 study resulted in a USD 203m increase before ADC reinsurance (with USD 62m recorded as deferred gain on retroactive reinsurance) ^{p. 9}.
A&E reserve components for 2025 and 2024 included asbestos reserve increases of USD 122m and USD 167m, respectively, and environmental reserve increases of USD 43m and USD 36m, respectively ^{p. 9}.
Other reserve re-estimates for Q4 2025 and Q4 2024 included ULAE reserve increases of USD 31m and USD 28m, respectively, within P&C Other Operations, and favorable automobile physical damage reserve changes of USD -34m and USD -32m for the full years 2025 and 2024, respectively ^{p. 9}.

Property & Casualty prior accident year development by line of business ^{p. 9}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Workers' compensation	-67	-62	-61	-65	-70	-69	-52	-67	-255	-258
Workers' compensation discount accretion	11	11	11	12	10	11	11	12	45	44
General liability	—	—	—	—	130	32	32	17	—	211
Marine	—	—	—	—	—	—	-8	7	—	-1
Package business	—	—	—	—	—	-5	-1	—	—	-6
Commercial property	-14	-5	-20	-3	—	-2	-2	-3	-42	-7
Professional liability	-6	—	-11	—	-20	—	-2	-5	-17	-27
Bond	-49	—	-22	—	-34	—	-22	—	-71	-56
Assumed reinsurance	—	—	—	—	—	—	15	9	—	24
Commercial automobile liability	12	—	—	—	21	16	10	—	12	47
Personal automobile liability	-32	-33	-10	-12	-17	—	-13	—	-87	-30
Homeowners	-7	-5	-13	-18	-13	-5	-10	—	-43	-28
Net asbestos and environmental reserves [1]	165	—	—	—	141	—	—	—	165	141
Catastrophes	-45	—	-39	—	-49	—	-38	—	-84	-87
Uncollectible reinsurance	—	6	—	—	-19	—	—	—	6	-19
Other reserve re-estimates, net [2]	20	-7	2	-4	17	-2	2	-2	11	15
Prior accident year development before change in deferred gain	-12	-95	-163	-90	97	-24	-78	-32	-360	-37
Change in deferred gain on retroactive reinsurance included in other liabilities [1][3]	—	-8	-24	-32	4	-26	-37	-24	-64	-83
Total prior accident year development	-12	-103	-187	-122	101	-50	-115	-56	-424	-120

The Hartford Insurance Group, Inc. Property & Casualty underwriting ratios

Property & Casualty underwriting ratios and underwriting gain for the three months and year ended December 31, 2025 and 2024 ^{p. 10}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Underwriting Gain	USD 586	USD 502	USD 497	USD 130	USD 331	USD 228	USD 254	USD 279	USD 1,715	USD 1,092
Underwriting Ratios	—	—	—	—	—	—	—	—	—	—
Loss and loss adjustment expense ratio	56.2%	58.5%	58.8%	66.3%	61.9%	64.4%	63.3%	62.3%	59.9%	63.0%
Expense ratio [1]	30.7%	30.0%	29.5%	30.4%	29.9%	29.9%	30.1%	30.2%	30.2%	30.0%
Policyholder dividend ratio	0.2%	0.3%	0.3%	0.2%	0.2%	0.2%	0.2%	0.3%	0.2%	0.2%
Combined ratio	87.1%	88.8%	88.6%	96.9%	92.1%	94.5%	93.6%	92.8%	90.3%	93.2%
Current accident year catastrophes and prior accident year development	0.3%	0.7%	-0.6%	-8.2%	-4.3%	-4.8%	-4.2%	-2.7%	-1.8%	-4.0%
Underlying combined ratio*	87.4%	89.6%	88.0%	88.8%	87.8%	89.7%	89.5%	90.1%	88.4%	89.2%
Loss and loss adjustment expense ratio	—	—	—	—	—	—	—	—	—	—
Underlying loss and loss adjustment expense ratio*	56.5%	59.3%	58.3%	58.1%	57.6%	59.6%	59.1%	59.6%	58.0%	59.0%
Current accident year catastrophes	—	1.6%	4.9%	11.1%	1.9%	6.0%	7.1%	4.2%	4.2%	4.7%
Prior accident year development [2]	-0.3%	-2.3%	-4.3%	-2.9%	2.4%	-1.2%	-2.9%	-1.5%	-2.4%	-0.7%
Total loss and loss adjustment expense ratio	56.2%	58.5%	58.8%	66.3%	61.9%	64.4%	63.3%	62.3%	59.9%	63.0%

[1] Integration and transaction costs related to the acquisition of Navigators Group are not included in the expense ratio ^{p. 10}.
[2] Refer to [3] on page 2 for more information about the change in deferred gain on retroactive reinsurance ^{p. 10}.
Asterisk (*) denotes a non-GAAP financial measure ^{p. 10}.

The Hartford Insurance Group, Inc. Business insurance income statements

Business Insurance income statements for the three months and year ended December 31, 2025 and 2024 ^{p. 14}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Written premiums	3,381	3,573	3,816	3,686	3,174	3,275	3,540	3,362	14,456	13,351
Change in unearned premium reserve	-214	33	392	362	-129	26	419	314	573	630
Earned premiums	3,595	3,540	3,424	3,324	3,303	3,249	3,121	3,048	13,883	12,721
Fee income	12	11	11	11	10	11	11	11	45	43
Losses and loss adjustment expenses	—	—	—	—	—	—	—	—	—	—
Current accident year before catastrophes	2,015	2,051	1,952	1,891	1,849	1,862	1,750	1,725	7,909	7,186
Current accident year catastrophes	-12	39	114	280	67	155	155	109	421	486
Prior accident year development [1]	-152	-60	-146	-83	-58	-36	-81	-56	-441	-231
Total losses and loss adjustment expenses	1,851	2,030	1,920	2,088	1,858	1,981	1,824	1,778	7,889	7,441
Amortization of DAC	565	559	546	531	516	512	489	476	2,201	1,993
Insurance operating costs	581	546	507	512	505	497	484	487	2,146	1,973
Amortization of other intangible assets	8	7	7	7	8	7	7	7	29	29
Dividends to policyholders	11	12	11	10	10	10	9	10	44	39
Underwriting gain	591	397	444	187	416	253	319	301	1,619	1,289
Net investment income	562	519	449	437	479	442	402	391	1,967	1,714
Net realized gains (losses)	-21	-26	-20	-24	-3	-32	-50	12	-91	-73
Other income (expense) [2]	-1	—	-1	-1	-1	-1	-1	-2	-3	-5
Income before income taxes	1,131	890	872	599	891	662	670	702	3,492	2,925
Income tax expense	234	180	176	122	183	134	130	129	712	576
Net income	897	710	696	477	708	528	540	573	2,780	2,349
Adjustments to reconcile net income to core earnings:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	21	23	23	22	2	31	50	-13	89	70
Integration and other non-recurring M&A costs, before tax [2]	1	2	2	2	2	2	2	2	7	8
Change in deferred gain on retroactive reinsurance, before tax [1]	—	-8	-24	-32	-58	-26	-37	-24	-64	-145
Income tax expense (benefit) [3]	-4	-4	—	2	11	-1	-4	8	-6	14
Core earnings	915	723	697	471	665	534	551	546	2,806	2,296

Written premiums increased to USD 14,456m for the year ended Dec 31, 2025, up from USD 13,351m in 2024 ^{p. 14}.
Underwriting gain rose to USD 1,619m for the year ended Dec 31, 2025, compared to USD 1,289m in 2024 ^{p. 14}.
Net income reached USD 2,780m for the year ended Dec 31, 2025, up from USD 2,349m in 2024 ^{p. 14}.
Core earnings grew to USD 2,806m for the year ended Dec 31, 2025, compared to USD 2,296m in 2024 ^{p. 14}.
[1] Refer to [3] on page 2 for information about the change in deferred gain on retroactive reinsurance on the Navigators ADC ^{p. 14}.
[2] Includes Navigators Group integration costs ^{p. 14}.
[3] Primarily represents federal income tax expense (benefit) related to before tax items not included in core earnings ^{p. 14}.

The Hartford Insurance Group, Inc. Business insurance income statements (continued)

Prior accident year development details for Business Insurance, showing unfavorable (favorable) reserve development ^{p. 12}.

Business Insurance prior accident year development details in USD millions ^{p. 12}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Workers' compensation	-67	-62	-61	-65	-70	-69	-52	-67	-255	-258
Workers' compensation discount accretion	11	11	11	12	10	11	11	12	45	44
General liability	—	—	—	—	130	32	32	17	—	211
Marine	—	—	—	—	—	—	-8	7	—	-1
Package business	—	—	—	—	—	-5	-1	—	—	-6
Commercial property	-14	-5	-20	-3	—	-2	-2	-3	-42	-7
Professional liability	-6	—	-11	—	-20	—	-2	-5	-17	-27
Bond	-49	—	-22	—	-34	—	-22	—	-71	-56
Assumed reinsurance	—	—	—	—	—	—	15	9	—	24
Automobile liability	12	—	—	—	21	16	10	—	12	47
Catastrophes	-35	—	-28	—	-34	—	-33	—	-63	-67
Uncollectible reinsurance	—	—	—	—	—	—	—	-7	—	-7
Other reserve re-estimates, net	-4	4	9	5	-3	7	8	5	14	17
Prior accident year development before change in deferred gain	(152)	(52)	(122)	(51)	—	(10)	(44)	(32)	(377)	(86)
Change in deferred gain on retroactive reinsurance included in other liabilities [1]	—	-8	-24	-32	-58	-26	-37	-24	-64	-145
Total prior accident year development	(152)	(60)	(146)	(83)	(58)	(36)	(81)	(56)	(441)	(231)

[1] Includes amortization of the deferred gain on retroactive reinsurance related to the Navigators ADC ^{p. 12}.

The Hartford Insurance Group, Inc. Business insurance underwriting ratios

Business Insurance underwriting ratios and underwriting gain for the three months and years ended December 31, 2025 and 2024 ^{p. 13}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Underwriting Gain	591	397	444	187	416	253	319	301	1,619	1,289
Underwriting Ratios	—	—	—	—	—	—	—	—	—	—
Loss and loss adjustment expense ratio	51.5%	57.3%	56.1%	62.8%	56.3%	61.0%	58.4%	58.3%	56.8%	58.5%
Expense ratio [1]	31.8%	31.1%	30.6%	31.3%	30.8%	30.9%	31.1%	31.5%	31.2%	31.1%
Policyholder dividend ratio	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%
Combined ratio	83.6%	88.8%	87.0%	94.4%	87.4%	92.2%	89.8%	90.1%	88.3%	89.9%
Current accident year catastrophes and prior accident year development	4.5%	0.6%	1.0%	-5.9%	-0.2%	-3.7%	-2.4%	-1.8%	0.2%	-2.0%
Underlying combined ratio	88.1%	89.4%	88.0%	88.4%	87.1%	88.6%	87.4%	88.4%	88.5%	87.9%
Loss and loss adjustment expense ratio	—	—	—	—	—	—	—	—	—	—
Underlying loss and loss adjustment expense ratio	56.1%	57.9%	57.0%	56.9%	56.0%	57.3%	56.1%	56.6%	57.0%	56.5%
Current accident year catastrophes	-0.3%	1.1%	3.3%	8.4%	2.0%	4.8%	5.0%	3.6%	3.0%	3.8%
Prior accident year development	-4.2%	-1.7%	-4.3%	-2.5%	-1.8%	-1.1%	-2.6%	-1.8%	-3.2%	-1.8%
Total loss and loss adjustment expense ratio	51.5%	57.3%	56.1%	62.8%	56.3%	61.0%	58.4%	58.3%	56.8%	58.5%
Combined Ratios by Line of Business	—	—	—	—	—	—	—	—	—	—
Small Business	—	—	—	—	—	—	—	—	—	—
Combined ratio	80.8%	87.9%	89.7%	93.3%	83.8%	91.6%	88.7%	89.0%	87.8%	88.2%
Current accident year catastrophes	0.2%	-1.3%	-5.1%	-8.0%	-1.2%	-6.4%	-6.1%	-3.8%	-3.5%	-4.3%
Prior accident year development	6.4%	3.2%	4.5%	4.1%	4.1%	4.1%	4.2%	4.3%	4.5%	4.2%
Underlying combined ratio	87.3%	89.8%	89.0%	89.4%	86.7%	89.3%	86.8%	89.6%	88.9%	88.1%
Middle & Large Business	—	—	—	—	—	—	—	—	—	—
Combined ratio	91.1%	90.8%	86.6%	99.8%	93.9%	97.0%	95.9%	94.0%	92.0%	95.2%
Current accident year catastrophes	-0.7%	—	-1.1%	-8.9%	-0.5%	-3.5%	-4.8%	-3.6%	-2.6%	-3.1%
Prior accident year development	-1.0%	0.6%	3.6%	-0.3%	-3.3%	-3.3%	-1.4%	-1.2%	0.7%	-2.3%
Underlying combined ratio	89.4%	91.4%	89.1%	90.6%	90.2%	90.2%	89.6%	89.2%	90.1%	89.8%
Global Specialty	—	—	—	—	—	—	—	—	—	—
Combined ratio	78.1%	86.9%	85.9%	89.3%	84.7%	87.4%	83.4%	87.8%	85.0%	85.8%
Current accident year catastrophes	2.0%	-2.2%	-3.2%	-8.7%	-5.4%	-3.8%	-3.5%	-3.3%	-3.0%	-4.0%
Prior accident year development	7.5%	1.1%	2.1%	3.4%	4.3%	1.7%	5.3%	0.7%	3.6%	3.0%
Underlying combined ratio	87.6%	85.8%	84.8%	84.0%	83.6%	85.3%	85.2%	85.3%	85.6%	84.8%

[1] Integration and transaction costs related to the acquisition of Navigators Group are not included in the expense ratio ^{p. 13}.

Business Insurance written premiums, earned premiums, and statistical premium information ^{p. 14}
USD million (unless otherwise mentioned)	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Written Premiums	—	—	—	—	—	—	—	—	—	—
Small Business	1,444	1,490	1,503	1,553	1,330	1,347	1,373	1,425	5,990	5,475
Middle & Large Business	1,116	1,231	1,197	1,111	1,059	1,117	1,140	1,016	4,655	4,332
Middle Market	936	1,054	1,039	931	900	962	993	872	3,960	3,727
National Accounts and Other	180	177	158	180	159	155	147	144	695	605
Global Specialty [1]	805	836	1,100	1,006	769	797	1,013	907	3,747	3,486
U.S.	541	551	619	559	533	544	595	505	2,270	2,177
International	134	114	142	113	123	102	125	106	503	456
Global Re	130	171	339	334	113	151	293	296	974	853
Other	16	16	16	16	16	14	14	14	64	58
Total	3,381	3,573	3,816	3,686	3,174	3,275	3,540	3,362	14,456	13,351
Earned Premiums	—	—	—	—	—	—	—	—	—	—
Small Business	1,497	1,465	1,418	1,360	1,355	1,323	1,284	1,248	5,740	5,210
Middle & Large Business	1,164	1,144	1,100	1,075	1,069	1,065	1,021	996	4,483	4,151
Middle Market	992	976	942	924	918	921	879	864	3,834	3,582
National Accounts and Other	172	168	158	151	151	144	142	132	649	569
Global Specialty [1]	918	915	890	873	865	847	802	789	3,596	3,303
U.S.	574	568	549	540	547	540	514	503	2,231	2,104
International	121	122	119	113	115	113	108	105	475	441
Global Re	223	225	222	220	203	194	180	181	890	758
Other	16	16	16	16	14	14	14	15	64	57
Total	3,595	3,540	3,424	3,324	3,303	3,249	3,121	3,048	13,883	12,721
Business Insurance Statistical Premium Information	—	—	—	—	—	—	—	—	—	—
Small Business	—	—	—	—	—	—	—	—	—	—
Net New Business Premium	295	308	305	298	264	278	291	268	1,206	1,101
Renewal Written Price Increases	4.3%	5.4%	6.0%	6.5%	7.5%	6.5%	6.4%	5.6%	5.5%	6.5%
Policy Count Retention	84%	84%	83%	84%	84%	84%	84%	85%	84%	84%
Policies In-Force (in thousands)	1,657	1,640	1,615	1,591	1,570	1,558	1,537	1,512	—	—
Middle Market [2]	—	—	—	—	—	—	—	—	—	—
Net New Business Premium	176	211	190	188	180	176	187	174	765	717
Renewal Written Price Increases	4.5%	5.9%	7.1%	7.3%	6.5%	6.7%	6.8%	7.2%	6.2%	6.8%
Premium Retention	83%	84%	82%	81%	84%	85%	83%	84%	83%	84%
Global Specialty	—	—	—	—	—	—	—	—	—	—
Gross New Business Premium [3]	249	238	278	225	224	233	264	223	990	944
Renewal Written Price Increases [4]	3.9%	3.9%	5.1%	5.8%	5.8%	5.5%	6.3%	6.2%	4.7%	6.0%

U.S. business includes a small amount of business issued by U.S. insurance entities to U.S. policyholders with international-based exposures ^{p. 14}.
International represents Navigators Group business written in either Lloyd's market or other international markets, which includes U.S.-based exposures ^{p. 14}.
Middle Market metrics exclude loss sensitive and programs businesses, except for net new business premium ^{p. 14}.
Gross New Business Premium for Global Specialty excludes Global Re and is before ceded reinsurance ^{p. 14}.
Renewal Written Price Increases for Global Specialty excludes Global Re, offshore energy policies, credit and political risk insurance policies, political violence and terrorism policies, and any business under which the managing agent of our Lloyd's Syndicate 1221 delegates underwriting authority to coverholders and other third parties ^{p. 14}.

The Hartford Insurance Group, Inc. Personal insurance income statements

Personal Insurance income statements and core earnings reconciliation for the periods ended December 31, 2025 and 2024 ^{p. 15}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Written premiums	USD 850m	USD 987m	USD 980m	USD 913m	USD 871m	USD 970m	USD 913m	USD 844m	USD 3,730m	USD 3,598m
Change in unearned premium reserve	USD (95)m	USD 37m	USD 49m	USD 14m	USD (35)m	USD 85m	USD 64m	USD 31m	USD 5m	USD 145m
Earned premiums	USD 945m	USD 950m	USD 931m	USD 899m	USD 906m	USD 885m	USD 849m	USD 813m	USD 3,725m	USD 3,453m
Fee income	USD 8m	USD 8m	USD 8m	USD 8m	USD 9m	USD 8m	USD 8m	USD 8m	USD 32m	USD 33m
Losses and loss adjustment expenses	—	—	—	—	—	—	—	—	—	—
Current accident year before catastrophes	USD 549m	USD 610m	USD 585m	USD 563m	USD 577m	USD 602m	USD 597m	USD 575m	USD 2,307m	USD 2,351m
Current accident year catastrophes	USD 11m	USD 31m	USD 98m	USD 187m	USD 13m	USD 92m	USD 125m	USD 52m	USD 327m	USD 282m
Prior accident year development	USD (56)m	USD (43)m	USD (41)m	USD (39)m	USD (53)m	USD (14)m	USD (34)m	USD (7)m	USD (179)m	USD (108)m
Total losses and loss adjustment expenses	USD 504m	USD 598m	USD 642m	USD 711m	USD 537m	USD 680m	USD 688m	USD 620m	USD 2,455m	USD 2,525m
Amortization of DAC	USD 72m	USD 72m	USD 70m	USD 68m	USD 67m	USD 65m	USD 63m	USD 60m	USD 282m	USD 255m
Insurance operating costs	USD 184m	USD 180m	USD 172m	USD 182m	USD 182m	USD 169m	USD 169m	USD 153m	USD 718m	USD 673m
Amortization of other intangible assets	—	USD 1m	—	USD 1m	—	USD 1m	—	USD 1m	USD 2m	USD 2m
Underwriting gain (loss)	USD 193m	USD 107m	USD 55m	USD (55)m	USD 129m	USD (22)m	USD (63)m	USD (13)m	USD 300m	USD 31m
Net investment income	USD 74m	USD 67m	USD 58m	USD 57m	USD 64m	USD 58m	USD 50m	USD 50m	USD 256m	USD 222m
Net realized gains (losses)	USD (3)m	USD (4)m	USD (4)m	USD (2)m	USD (5)m	USD (2)m	USD (8)m	USD 1m	USD (13)m	USD (14)m
Net servicing and other income (expense)	USD 3m	USD 4m	USD 5m	USD 5m	USD 3m	USD 5m	USD 6m	USD 4m	USD 17m	USD 18m
Income (loss) before income taxes	USD 267m	USD 174m	USD 114m	USD 5m	USD 191m	USD 39m	USD (15)m	USD 42m	USD 560m	USD 257m
Income tax expense (benefit)	USD 55m	USD 35m	USD 23m	—	USD 37m	USD 8m	USD (4)m	USD 8m	USD 113m	USD 49m
Net income (loss)	USD 212m	USD 139m	USD 91m	USD 5m	USD 154m	USD 31m	USD (11)m	USD 34m	USD 447m	USD 208m
Adjustments to reconcile net income (loss) to core earnings (loss):	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	USD 2m	USD 5m	USD 3m	USD 2m	USD 3m	USD 2m	USD 9m	USD (2)m	USD 12m	USD 12m
Income tax expense (benefit) [1]	—	USD (1)m	—	USD (1)m	USD (2)m	—	USD (2)m	USD 1m	USD (2)m	USD (3)m
Core earnings (loss)	USD 214m	USD 143m	USD 94m	USD 6m	USD 155m	USD 33m	USD (4)m	USD 33m	USD 457m	USD 217m

Written premiums increased to USD 3,730m for the year ended Dec 31 2025, up from USD 3,598m in 2024 ^{p. 15}.
Underwriting gain improved significantly to USD 300m for the year ended Dec 31 2025 compared to USD 31m in 2024 ^{p. 15}.
Core earnings rose to USD 457m for the year ended Dec 31 2025 from USD 217m in 2024 ^{p. 15}.
[1] Represents federal income tax expense (benefit) related to before tax items not included in core earnings ^{p. 15}.

The Hartford Insurance Group, Inc. Personal insurance income statements (continued)

Prior accident year development details unfavorable (favorable) reserve development across segments ^{p. 16}.
Other reserve re-estimates includes a favorable change in automobile physical damage reserves of USD (8)m and USD (34)m for the three and twelve months ended December 31, 2025, respectively, and USD (8)m and USD (32)m for the three and twelve months ended December 31, 2024, respectively ^{p. 16}.

Personal Insurance prior accident year development details ^{p. 16}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Automobile liability	USD (32)	USD (33)	USD (10)	USD (12)	USD (17)	—	USD (13)	—	USD (87)	USD (30)
Homeowners	-7	-5	-13	-18	-13	-5	-10	—	-43	-28
Catastrophes	-10	—	-11	—	-15	—	-5	—	-21	-20
Uncollectible reinsurance	—	—	—	—	—	—	—	—	—	—
Other reserve re-estimates, net [1]	-7	-5	-7	-9	-8	-9	-6	-7	-28	-30
Total prior accident year development	USD (56)	USD (43)	USD (41)	USD (39)	USD (53)	USD (14)	USD (34)	USD (7)	USD (179)	USD (108)

The Hartford Insurance Group, Inc. Personal insurance underwriting ratios

Personal Insurance underwriting ratios and underwriting gain (loss) for the three months and year ended December 31, 2025 and 2024 ^{p. 17}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Underwriting Gain (Loss)	193	107	55	-55	129	-22	-63	-13	300	31
Underwriting Ratios	—	—	—	—	—	—	—	—	—	—
Loss and loss adjustment expense ratio	53.3%	62.9%	69.0%	79.1%	59.3%	76.8%	81.0%	76.3%	65.9%	73.1%
Expense ratio	26.2%	25.8%	25.1%	27.0%	26.5%	25.6%	26.4%	25.3%	26.0%	26.0%
Combined ratio	79.6%	88.7%	94.1%	106.1%	85.8%	102.5%	107.4%	101.6%	91.9%	99.1%
Current accident year catastrophes and prior accident year development	4.7%	1.2%	-6.1%	-16.5%	4.4%	-8.8%	-10.7%	-5.5%	-4.0%	-5.1%
Underlying combined ratio	84.3%	90.0%	88.0%	89.7%	90.2%	93.7%	96.7%	96.1%	88.0%	94.1%
Loss and loss adjustment expense ratio	—	—	—	—	—	—	—	—	—	—
Underlying loss and loss adjustment expense ratio	58.1%	64.2%	62.8%	62.6%	63.7%	68.0%	70.3%	70.7%	61.9%	68.1%
Current accident year catastrophes	1.2%	3.3%	10.5%	20.8%	1.4%	10.4%	14.7%	6.4%	8.8%	8.2%
Prior accident year development	-5.9%	-4.5%	-4.4%	-4.3%	-5.8%	-1.6%	-4.0%	-0.9%	-4.8%	-3.1%
Total loss and loss adjustment expense ratio	53.3%	62.9%	69.0%	79.1%	59.3%	76.8%	81.0%	76.3%	65.9%	73.1%
Combined Ratios by Product	—	—	—	—	—	—	—	—	—	—
Automobile	—	—	—	—	—	—	—	—	—	—
Combined ratio	92.7%	92.5%	94.0%	93.5%	98.3%	105.7%	105.4%	103.9%	93.2%	103.3%
Adjustment to reconcile combined ratio to underlying combined ratio:	—	—	—	—	—	—	—	—	—	—
Current accident year catastrophes	-0.3%	-0.6%	-1.8%	-1.2%	—	-5.8%	-3.6%	-1.0%	-1.0%	-2.6%
Prior accident year development	6.5%	6.0%	3.0%	3.8%	4.7%	1.6%	3.1%	1.6%	4.8%	2.8%
Underlying combined ratio	98.9%	97.9%	95.2%	96.1%	103.0%	101.5%	104.9%	104.4%	97.0%	103.4%
Homeowners	—	—	—	—	—	—	—	—	—	—
Combined ratio	53.7%	81.2%	94.4%	133.2%	57.8%	94.7%	114.5%	96.2%	89.2%	90.1%
Adjustment to reconcile combined ratio to underlying combined ratio:	—	—	—	—	—	—	—	—	—	—
Current accident year catastrophes	-3.0%	-8.3%	-28.8%	-63.7%	-4.8%	-21.0%	-40.4%	-18.7%	-24.8%	-20.9%
Prior accident year development	4.8%	1.6%	7.1%	5.6%	8.6%	1.7%	3.7%	-0.5%	4.7%	3.5%
Underlying combined ratio	55.5%	74.4%	72.7%	75.1%	61.7%	75.4%	77.8%	77.0%	69.2%	72.7%

The Hartford Insurance Group, Inc. Personal insurance supplemental data

Personal Insurance supplemental distribution and product line premium data ^{p. 18}
USD million	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Distribution	—	—	—	—	—	—	—	—	—	—
Written Premiums	—	—	—	—	—	—	—	—	—	—
Direct	672	798	796	758	716	815	780	728	3,024	3,039
Agency	178	189	184	155	155	155	133	116	706	559
Total	850	987	980	913	871	970	913	844	3,730	3,598
Earned Premiums	—	—	—	—	—	—	—	—	—	—
Direct	768	781	776	757	769	761	735	706	3,082	2,971
Agency	177	169	155	142	137	124	114	107	643	482
Total	945	950	931	899	906	885	849	813	3,725	3,453
Product Line	—	—	—	—	—	—	—	—	—	—
Written Premiums	—	—	—	—	—	—	—	—	—	—
Automobile	551	633	633	627	590	649	617	600	2,444	2,456
Homeowners	299	354	347	286	281	321	296	244	1,286	1,142
Total	850	987	980	913	871	970	913	844	3,730	3,598
Earned Premiums	—	—	—	—	—	—	—	—	—	—
Automobile	625	634	628	618	627	616	592	566	2,505	2,401
Homeowners	320	316	303	281	279	269	257	247	1,220	1,052
Total	945	950	931	899	906	885	849	813	3,725	3,453

The Hartford Insurance Group, Inc. Personal insurance supplemental data (continued)

Statistical premium information year-over-year ^{p. 19}
USD million (unless otherwise mentioned)	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025	Dec 31 2024
Net New Business Premium	—	—	—	—	—	—	—	—	—	—
Automobile	52	71	81	81	77	83	82	72	285	314
Homeowners	45	59	69	62	59	60	47	34	235	200
Renewal Written Price Increases	—	—	—	—	—	—	—	—	—	—
Automobile	10.4%	11.3%	13.9%	15.7%	19.0%	20.7%	23.4%	25.5%	12.8%	22.1%
Homeowners	11.9%	12.6%	12.6%	12.3%	13.8%	15.1%	14.9%	15.2%	12.3%	14.7%
Effective Policy Count Retention	—	—	—	—	—	—	—	—	—	—
Automobile	80%	80%	79%	79%	79%	79%	79%	79%	79%	79%
Homeowners	82%	82%	83%	83%	83%	83%	84%	83%	82%	83%
Policies In-Force (in thousands)	—	—	—	—	—	—	—	—	—	—
Automobile	1,054	1,091	1,121	1,146	1,171	1,193	1,214	1,233	—	—
Homeowners	716	723	724	719	712	707	702	701	—	—

The Hartford Insurance Group, Inc. P&C other operations income statements

Prior accident year development was USD 196m for the three months ended Dec 31, 2025, compared to USD 212m for the three months ended Dec 31, 2024 ^{p. 23}.
Underwriting loss was USD 198m for the three months ended Dec 31, 2025, compared to USD 214m for the three months ended Dec 31, 2024 ^{p. 23}.
Core loss was USD 140m for the three months ended Dec 31, 2025, compared to USD 106m for the three months ended Dec 31, 2024 ^{p. 23}.

P&C Other Operations income statements ^{p. 23}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Losses and loss adjustment expenses	—	—	—	—	—	—	—	—	—	—
Prior accident year development [1] [2]	196	—	—	—	212	—	—	7	196	219
Total losses and loss adjustment expenses	196	—	—	—	212	—	—	7	196	219
Insurance operating costs	2	2	2	2	2	3	2	2	8	9
Underwriting loss	-198	-2	-2	-2	-214	-3	-2	-9	-204	-228
Net investment income	20	19	19	18	19	18	19	18	76	74
Net realized losses	-1	—	-2	—	-1	—	-3	—	-3	-4
Other expense	—	-1	—	—	—	-4	—	—	-1	-4
Income (loss) before income taxes	-179	16	15	16	-196	11	14	9	-132	-162
Income tax expense (benefit)	-38	4	2	3	-40	1	3	1	-29	-35
Net income (loss)	-141	12	13	13	-156	10	11	8	-103	-127
Adjustments to reconcile net income (loss) to core earnings (loss):	—	—	—	—	—	—	—	—	—	—
Net realized losses excluded from core earnings, before tax	1	—	2	—	1	—	3	—	3	4
Change in deferred gain on retroactive reinsurance, before tax	—	—	—	—	62	—	—	—	—	62
Income tax expense (benefit) [3]	—	2	-1	—	-13	—	—	-1	1	-14
Core earnings (loss)	-140	14	14	13	-106	10	14	7	-99	-75

[1] Refer to [1] on page 9 for discussion related to prior year development on A&E reserves and the related deferred gain on retroactive reinsurance ^{p. 23}.
[2] Refer to [2] on page 9 for a discussion of an increase in ULAE reserves for the three months ended December 31, 2025 and 2024 ^{p. 23}.
[3] Represents federal income tax expense (benefit) related to before tax items not included in core earnings (loss) ^{p. 23}.

The Hartford Insurance Group, Inc.

Employee Benefits segment income statements, margins, and ROE for the periods ended December 31, 2025 and 2024 ^{p. 21}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Earned premiums	1,601	1,603	1,606	1,612	1,600	1,600	1,608	1,585	6,422	6,393
Fee income	55	55	57	56	56	55	57	54	223	222
Net investment income	153	136	118	126	130	119	112	114	533	475
Net realized gains (losses)	-10	-8	-16	-4	-16	—	-9	1	-38	-24
Total revenues	1,799	1,786	1,765	1,790	1,770	1,774	1,768	1,754	7,140	7,066
Benefits, losses and loss adjustment expenses	1,180	1,163	1,150	1,199	1,169	1,161	1,147	1,204	4,692	4,681
Amortization of DAC	8	8	9	8	8	8	9	9	33	34
Insurance operating costs and other expenses	437	425	407	406	424	401	387	397	1,675	1,609
Amortization of other intangible assets	10	10	10	10	10	10	10	10	40	40
Total benefits, losses and expenses	1,635	1,606	1,576	1,623	1,611	1,580	1,553	1,620	6,440	6,364
Income before income taxes	164	180	189	167	159	194	215	134	700	702
Income tax expense	34	36	39	34	33	38	44	26	143	141
Net income	130	144	150	133	126	156	171	108	557	561
Adjustments to reconcile net income to core earnings:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	9	8	15	4	15	-1	9	-1	36	22
Income tax benefit [1]	-1	-3	-2	-1	-2	-1	-2	—	-7	-5
Core earnings	138	149	163	136	139	154	178	107	586	578
Margin	—	—	—	—	—	—	—	—	—	—
Net income margin	7.2%	8.1%	8.5%	7.4%	7.1%	8.8%	9.7%	6.2%	7.8%	7.9%
Core earnings margin*	7.6%	8.3%	9.2%	7.6%	7.8%	8.7%	10.0%	6.1%	8.2%	8.2%
ROE	—	—	—	—	—	—	—	—	—	—
Net income available to common stockholders [2]	15.0%	14.7%	16.1%	16.6%	15.5%	17.7%	18.0%	16.1%	—	—
Adjustments to reconcile net income available to common stockholders to core earnings:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	1.0%	1.2%	1.0%	0.8%	0.7%	0.2%	1.1%	1.3%	—	—
Integration and other non-recurring M&A costs, before tax [3]	—%	—%	—%	—%	—%	—%	0.1%	0.1%	—	—
Income tax benefit [1]	(0.2%)	(0.2%)	(0.2%)	(0.2%)	(0.1%)	(0.1%)	(0.3%)	(0.3%)	—	—
Impact of AOCI, excluded from core earnings ROE	(1.2%)	(0.9%)	(1.6%)	(1.7%)	(1.7%)	(2.2%)	(2.5%)	(2.1%)	—	—
Core earnings [2]	14.6%	14.8%	15.3%	15.5%	14.4%	15.6%	16.4%	15.1%	—	—

[1] Represents federal income tax benefit related to before tax items not included in core earnings ^{p. 21}.
[2] Net income ROE and core earnings ROE are calculated by allocating a portion of debt, interest expense, preferred stock and preferred stock dividends accounted for within Corporate to Employee Benefits ^{p. 21}.
[3] Includes integration costs in connection with the 2017 acquisition of Aetna's group life and disability business ^{p. 21}.

The Hartford Insurance Group, Inc. Employee benefits supplemental data

Employee benefits supplemental data for premiums, sales, and ratios ^{p. 22}
USD million (unless otherwise mentioned)	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Premiums	—	—	—	—	—	—	—	—	—	—
Fully insured ongoing premiums	—	—	—	—	—	—	—	—	—	—
Group disability	840	835	838	844	845	835	837	836	3,357	3,353
Group life	640	648	644	650	651	658	663	645	2,582	2,617
Other [1]	121	120	120	118	104	107	107	104	479	422
Total fully insured ongoing premiums	1,601	1,603	1,602	1,612	1,600	1,600	1,607	1,585	6,418	6,392
Total buyouts [2]	—	—	4	—	—	—	1	—	4	1
Total premiums	1,601	1,603	1,606	1,612	1,600	1,600	1,608	1,585	6,422	6,393
Sales (Gross Annualized New Premiums)	—	—	—	—	—	—	—	—	—	—
Fully insured ongoing sales	—	—	—	—	—	—	—	—	—	—
Group disability	31	53	48	162	37	53	37	247	294	374
Group life	19	33	44	163	23	32	51	154	259	260
Other [1]	9	19	15	56	8	20	13	43	99	84
Total fully insured ongoing sales	59	105	107	381	68	105	101	444	652	718
Total buyouts [2]	—	—	4	—	—	—	1	—	4	1
Total sales	59	105	111	381	68	105	102	444	656	719
Ratios, Excluding Buyouts	—	—	—	—	—	—	—	—	—	—
Group disability loss ratio	70.5%	70.6%	68.5%	69.0%	66.9%	67.9%	67.1%	70.1%	69.6%	68.0%
Group life loss ratio	76.9%	74.2%	74.3%	79.9%	79.9%	77.5%	74.9%	82.6%	76.3%	78.7%
Total loss ratio	71.3%	70.1%	69.1%	71.9%	70.6%	70.2%	68.9%	73.5%	70.6%	70.8%
Expense ratio	27.5%	26.7%	25.7%	25.4%	26.7%	25.3%	24.4%	25.4%	26.3%	25.4%

[1] Includes other group coverages such as retiree health insurance, critical illness, accident and hospital indemnity coverages ^{p. 22}.
[2] Takeover of open claim liabilities and other non-recurring premium amounts ^{p. 22}.

The Hartford Insurance Group, Inc. Hartford Funds income statements

Hartford Funds income statements and key metrics for the periods ended December 31, 2025 ^{p. 26}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Investment management fees	225	216	198	202	208	202	195	191	841	796
Shareowner servicing fees	23	24	22	23	23	23	21	21	92	88
Other revenue	43	41	42	39	44	43	42	42	165	171
Net realized gains (losses)	1	5	9	—	-3	7	3	5	15	12
Total revenues	292	286	271	264	272	275	261	259	1,113	1,067
Sub-advisory expense	83	79	72	73	76	73	71	69	307	289
Employee compensation and benefits	32	33	31	39	33	31	32	35	135	131
Distribution and service	76	75	70	73	77	75	74	73	294	299
General, administrative and other	27	27	30	24	24	29	26	26	108	105
Total expenses	218	214	203	209	210	208	203	203	844	824
Income before income taxes	74	72	68	55	62	67	58	56	269	243
Income tax expense	15	15	14	12	13	13	14	11	56	51
Net income	59	57	54	43	49	54	44	45	213	192
Adjustments to reconcile net income to core earnings:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	-1	-5	-9	—	3	-7	-3	-5	-15	-12
Income tax expense (benefit) [1]	—	1	1	1	-1	—	2	1	3	2
Core earnings	58	53	46	44	51	47	43	41	201	182
Daily average Hartford Funds AUM	153,441	148,269	138,195	141,834	142,230	137,888	134,064	131,648	145,474	136,477
Return on assets (bps, net of tax) [2]	—	—	—	—	—	—	—	—	—	—
Net income	15.4	15.4	15.6	12.1	13.8	15.7	13.1	13.7	14.6	14.1
Core earnings*	15.1	14.3	13.3	12.4	14.3	13.6	12.8	12.5	13.8	13.3
ROE	—	—	—	—	—	—	—	—	—	—
Net income available to common stockholders [3]	43.2%	41.8%	42.9%	42.2%	43.4%	44.1%	42.2%	43.6%	—	—
Adjustments to reconcile net income available to common stockholders to core earnings:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	(3.1%)	(2.3%)	(2.9%)	(1.6%)	(2.8%)	(5.5%)	(2.9%)	(2.5%)	—	—
Income tax expense (benefit) [1]	0.6%	0.4%	0.2%	0.5%	0.5%	0.7%	0.7%	0.3%	—	—
Impact of AOCI, excluded from core earnings ROE	(1.0%)	(0.8%)	(1.1%)	(1.3%)	(1.4%)	(1.5%)	(1.6%)	(1.7%)	—	—
Core earnings [3]	39.7%	39.1%	39.1%	39.8%	39.7%	37.8%	38.4%	39.7%	—	—

[1] Represents federal income tax expense (benefit) related to before tax items not included in core earnings ^{p. 26}.
[2] Represents annualized earnings divided by daily average assets under management ("AUM"), as measured in basis points ("bps") which represents one hundredth of one percent ^{p. 26}.
[3] Net income ROE and core earnings ROE are calculated by allocating a portion of debt, interest expense, preferred stock and preferred stock dividends accounted for within Corporate to Hartford Funds ^{p. 26}.

The Hartford Insurance Group, Inc.

Hartford Funds AUM ended at USD 154,229m as of Dec 31 2025, up from USD 139,598m as of Dec 31 2024 ^{p. 24}.
Mutual Fund and ETF AUM ending balance reached USD 142,969m as of Dec 31 2025, compared to USD 128,054m as of Dec 31 2024 ^{p. 24}.
Third-party life and annuity separate account AUM stood at USD 11,260m as of Dec 31 2025, down from USD 11,544m as of Dec 31 2024 ^{p. 24}.

Hartford Funds Assets Under Management By Asset Class rollforward in USD millions ^{p. 24}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Equity Funds	—	—	—	—	—	—	—	—	—	—
Beginning balance	94,454	89,072	82,792	84,000	87,271	83,212	83,337	79,352	84,000	79,352
Sales	4,560	4,644	3,946	5,295	3,682	3,364	3,612	3,428	18,445	14,086
Redemptions	-5,738	-4,792	-5,167	-6,434	-4,787	-4,298	-4,831	-5,488	-22,131	-19,404
Net flows	-1,178	-148	-1,221	-1,139	-1,105	-934	-1,219	-2,060	-3,686	-5,318
Change in market value and other	2,189	5,530	7,501	-69	-2,166	4,993	1,094	6,045	15,151	9,966
Ending balance	95,465	94,454	89,072	82,792	84,000	87,271	83,212	83,337	95,465	84,000
Fixed Income Funds	—	—	—	—	—	—	—	—	—	—
Beginning balance	22,843	21,827	21,398	21,059	19,347	17,825	17,201	16,773	21,059	16,773
Sales	2,129	2,129	2,124	1,978	3,229	1,905	1,569	1,822	8,360	8,525
Redemptions	-1,522	-1,609	-2,066	-1,970	-1,290	-1,150	-1,080	-1,497	-7,167	-5,017
Net flows	607	520	58	8	1,939	755	489	325	1,193	3,508
Change in market value and other	209	496	371	331	-227	767	135	103	1,407	778
Ending balance	23,659	22,843	21,827	21,398	21,059	19,347	17,825	17,201	23,659	21,059
Multi-Strategy Investments Funds [1]	—	—	—	—	—	—	—	—	—	—
Beginning balance	18,632	18,544	18,321	18,512	19,425	18,807	19,268	19,292	18,512	19,292
Sales	397	325	350	458	455	400	472	387	1,530	1,714
Redemptions	-873	-821	-731	-905	-834	-902	-930	-954	-3,330	-3,620
Net flows	-476	-496	-381	-447	-379	-502	-458	-567	-1,800	-1,906
Change in market value and other	268	584	604	256	-534	1,120	-3	543	1,712	1,126
Ending balance	18,424	18,632	18,544	18,321	18,512	19,425	18,807	18,321	18,424	18,512
Exchange-Traded Funds ("ETF") AUM	—	—	—	—	—	—	—	—	—	—
Beginning balance	5,068	4,847	4,708	4,483	4,323	3,842	3,753	3,899	4,483	3,899
Net flows	305	99	29	146	341	256	103	-209	579	491
Change in market value and other	48	122	110	79	-181	225	-14	63	359	93
Ending balance	5,421	5,068	4,847	4,708	4,483	4,323	3,842	3,753	5,421	4,483
Mutual Fund and ETF AUM	—	—	—	—	—	—	—	—	—	—
Beginning balance	140,997	134,290	127,219	128,054	130,366	123,686	123,559	119,316	128,054	119,316
Sales - mutual fund	7,086	7,098	6,420	7,731	7,366	5,669	5,653	5,637	28,335	24,325
Redemptions - mutual fund	-8,133	-7,222	-7,964	-9,309	-6,911	-6,350	-6,841	-7,939	-32,628	-28,041
Net flows - ETF	305	99	29	146	341	256	103	-209	579	491
Net flows - mutual fund and ETF	-742	-25	-1,515	-1,432	796	-425	-1,085	-2,511	-3,714	-3,225
Change in market value and other	2,714	6,732	8,586	597	-3,108	7,105	1,212	6,754	18,629	11,963
Ending balance	142,969	140,997	134,290	127,219	128,054	130,366	123,686	123,559	142,969	128,054
Third-party life and annuity separate account AUM	11,260	11,341	11,226	10,879	11,544	12,073	11,832	12,083	11,260	11,544
Hartford Funds AUM	154,229	152,338	145,516	138,098	139,598	142,439	135,518	135,642	154,229	139,598

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

The Hartford Insurance Group, Inc. Corporate

Corporate income statements for the periods ended December 31, 2025 ^{p. 25}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Fee income [1]	USD 9m	USD 10m	USD 10m	USD 11m	USD 10m	USD 10m	USD 10m	USD 10m	USD 40m	USD 40m
Other revenue	USD 7m	USD 6m	USD 5m	USD 1m	—	USD 1m	USD 1m	—	USD 19m	USD 2m
Net investment income	USD 16m	USD 14m	USD 14m	USD 14m	USD 16m	USD 17m	USD 14m	USD 16m	USD 58m	USD 63m
Net realized gains (losses)	USD 5m	USD 21m	USD 23m	USD (19)m	USD 11m	USD 14m	USD 8m	USD 9m	USD 30m	USD 42m
Total revenues	USD 37m	USD 51m	USD 52m	USD 7m	USD 37m	USD 42m	USD 33m	USD 35m	USD 147m	USD 147m
Benefits, losses and loss adjustment expenses [2]	USD 2m	USD 2m	—	USD 2m	USD 3m	USD 1m	USD 2m	USD 2m	USD 6m	USD 8m
Insurance operating costs and other expenses [1]	USD 30m	USD 13m	USD 14m	USD 14m	USD 17m	USD 12m	USD 11m	USD 14m	USD 71m	USD 54m
Interest expense	USD 49m	USD 50m	USD 50m	USD 50m	USD 50m	USD 49m	USD 50m	USD 50m	USD 199m	USD 199m
Restructuring and other costs	—	—	—	—	—	USD 1m	—	USD 1m	—	USD 2m
Total expenses	USD 81m	USD 65m	USD 64m	USD 66m	USD 70m	USD 63m	USD 63m	USD 67m	USD 276m	USD 263m
Loss before income taxes	USD (44)m	USD (14)m	USD (12)m	USD (59)m	USD (33)m	USD (21)m	USD (30)m	USD (32)m	USD (129)m	USD (116)m
Income tax benefit	USD (18)m	USD (32)m	USD (3)m	USD (18)m	USD (5)m	USD (9)m	USD (13)m	USD (17)m	USD (71)m	USD (44)m
Net income (loss)	USD (26)m	USD 18m	USD (9)m	USD (41)m	USD (28)m	USD (12)m	USD (17)m	USD (15)m	USD (58)m	USD (72)m
Preferred stock dividends	USD 5m	USD 6m	USD 5m	USD 5m	USD 5m	USD 6m	USD 5m	USD 5m	USD 21m	USD 21m
Net income (loss) available to common stockholders	USD (31)m	USD 12m	USD (14)m	USD (46)m	USD (33)m	USD (18)m	USD (22)m	USD (20)m	USD (79)m	USD (93)m
Adjustments to reconcile net income (loss) available to common stockholders to core loss:	—	—	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	USD (3)m	USD (21)m	USD (24)m	USD 19m	USD (8)m	USD (13)m	USD (10)m	USD (9)m	USD (29)m	USD (40)m
Restructuring and other costs, before tax	—	—	—	—	—	USD 1m	—	USD 1m	—	USD 2m
Income tax expense (benefit) [3]	USD (3)m	USD 4m	USD 5m	USD (4)m	USD 2m	USD 4m	—	USD 3m	USD 2m	USD 9m
Core loss	USD (37)m	USD (5)m	USD (33)m	USD (31)m	USD (39)m	USD (26)m	USD (32)m	USD (25)m	USD (106)m	USD (122)m

[1] Includes investment management fees and expenses related to managing third-party assets ^{p. 25}.
[2] Includes benefits, losses and loss adjustment expenses for run-off structured settlement and terminal funding agreement liabilities ^{p. 25}.
[3] Represents federal income tax expense (benefit) related to before tax items not included in core earnings ^{p. 25}.

The Hartford Insurance Group, Inc. Investment income before tax consolidated

Consolidated investment income before tax and annualized yields for the periods ended December 31, 2025 and 2024 ^{p. 26}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net Investment Income (Loss)	—	—	—	—	—	—	—	—	—	—
Fixed maturities [1] - Taxable	579	574	553	538	533	533	496	483	2,244	2,045
Fixed maturities [1] - Tax-exempt	27	29	31	36	38	37	41	43	123	159
Total fixed maturities	606	603	584	574	571	570	537	526	2,367	2,204
Equity securities	8	4	5	4	15	5	6	9	21	35
Mortgage loans	78	76	72	70	70	68	65	63	296	266
Limited partnerships and other alternative investments [2]	160	91	13	39	79	37	16	16	303	148
Other [3]	5	8	13	-3	6	1	1	6	23	14
Subtotal	857	782	687	684	741	681	625	620	3,010	2,667
Investment expense	-25	-23	-23	-28	-27	-22	-23	-27	-99	-99
Total net investment income	832	759	664	656	714	659	602	593	2,911	2,568
Annualized investment yield, before tax [4]	5.2%	4.8%	4.3%	4.3%	4.7%	4.4%	4.1%	4.1%	4.7%	4.3%
Annualized limited partnerships and other alternative investment yield, before tax [4]	11.4%	6.7%	1.0%	3.1%	6.4%	3.0%	1.3%	1.3%	5.8%	3.0%
Annualized investment yield, before tax, excluding limited partnership and other alternative investments [4]*	4.6%	4.6%	4.6%	4.4%	4.6%	4.5%	4.4%	4.3%	4.5%	4.4%
Annualized investment yield, net of tax [4]	4.1%	3.9%	3.5%	3.4%	3.8%	3.5%	3.3%	3.3%	3.7%	3.5%
Annualized investment yield, net of tax, excluding limited partnership and other alternative investments [4]*	3.7%	3.7%	3.7%	3.5%	3.7%	3.6%	3.5%	3.5%	3.6%	3.6%
Average reinvestment rate [5]	5.4%	5.7%	5.9%	5.6%	5.7%	5.5%	6.4%	6.1%	5.6%	5.9%
Average sales/maturities yield [6]	5.3%	5.2%	4.6%	4.9%	5.4%	4.4%	4.9%	5.0%	5.0%	5.0%
Portfolio duration (in years) [7]	3.9	3.8	3.9	3.9	3.8	3.9	3.9	4.0	3.9	3.8

[1] Includes income on short-term investments ^{p. 26}.
[2] Within Property & Casualty, other alternative investments include an insurer-owned life insurance policy, which is primarily invested in private equity funds and fixed income ^{p. 26}.
[3] Includes changes in fair value of certain equity fund investments and income from derivatives that qualify for hedge accounting and are used to hedge fixed maturities ^{p. 26}.
[4] Represents annualized net investment income divided by the monthly average invested assets at amortized cost, as applicable, excluding derivatives book value ^{p. 26}.
[5] Represents the annualized yield on fixed maturities and mortgage loans that were purchased during the respective period. Excludes U.S. Treasury securities and cash equivalents ^{p. 26}.
[6] Represents the annualized yield on fixed maturities and mortgage loans that were sold, matured, or redeemed, including calls and paydowns, during the respective period. Excludes U.S. Treasury securities and cash equivalents ^{p. 26}.
[7] Excludes certain short-term investments ^{p. 26}.

The Hartford Insurance Group, Inc. Investment income before tax Property & Casualty

Property & Casualty investment income details and yields for the periods ended December 31, 2025 and 2024 ^{p. 27}
Footnotes [1] through [7] are explained on page 26 ^{p. 27}

Property & Casualty investment income before tax ^{p. 27}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net Investment Income (Loss)	—	—	—	—	—	—	—	—	—	—
Fixed maturities [1]	—	—	—	—	—	—	—	—	—	—
Taxable	462	458	440	426	421	420	389	373	1,786	1,603
Tax-exempt	21	23	24	27	29	28	29	32	95	118
Total fixed maturities	483	481	464	453	450	448	418	405	1,881	1,721
Equity securities	2	3	1	2	8	3	3	6	8	20
Mortgage loans	59	59	54	53	52	51	49	46	225	198
Limited partnerships and other alternative investments [2]	125	71	11	28	65	31	16	15	235	127
Other [3]	6	9	13	-2	8	2	2	8	26	20
Subtotal	675	623	543	534	583	535	488	480	2,375	2,086
Investment expense	-19	-18	-17	-22	-21	-17	-17	-21	-76	-76
Total net investment income	656	605	526	512	562	518	471	459	2,299	2,010
Annualized investment yield, before tax [4]	5.2%	4.9%	4.4%	4.3%	4.8%	4.5%	4.2%	4.1%	4.7%	4.4%
Annualized limited partnerships and other alternative investment yield, before tax [4]	11.5%	6.8%	1.1%	2.8%	6.7%	3.2%	1.6%	1.6%	5.7%	3.3%
Annualized investment yield, before tax, excluding limited partnership and other alternative investments [4]	4.6%	4.7%	4.7%	4.4%	4.6%	4.6%	4.4%	4.3%	4.6%	4.5%
Annualized investment yield, net of tax [4]	4.2%	3.9%	3.5%	3.4%	3.8%	3.6%	3.4%	3.3%	3.8%	3.5%
Annualized investment yield, net of tax, excluding limited partnership and other alternative investments [4]	3.7%	3.8%	3.7%	3.5%	3.7%	3.7%	3.5%	3.5%	3.7%	3.6%
Average reinvestment rate [5]	5.4%	5.6%	5.8%	5.6%	5.7%	5.5%	6.4%	6.1%	5.6%	5.9%
Average sales/maturities yield [6]	5.3%	5.2%	4.7%	4.9%	5.6%	4.5%	4.9%	4.9%	5.0%	5.1%
Portfolio duration (in years) [7]	3.7	3.7	3.8	3.7	3.7	3.7	3.8	3.8	3.7	3.7

The Hartford Insurance Group, Inc. Investment income before tax employee benefits

Employee Benefits investment income details and yields ^{p. 28}
Footnotes [1] through [7] are explained on page 26 ^{p. 28}.

Employee Benefits net investment income and yields ^{p. 28}
USD million unless otherwise mentioned	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net Investment Income (Loss)	—	—	—	—	—	—	—	—	—	—
Fixed maturities [1]	—	—	—	—	—	—	—	—	—	—
Taxable	102	100	98	97	96	94	92	93	397	375
Tax-exempt	4	5	6	7	8	7	10	10	22	35
Total fixed maturities	106	105	104	104	104	101	102	103	419	410
Equity securities	—	—	1	1	2	1	1	1	2	5
Mortgage loans	19	17	18	17	18	17	16	17	71	68
Limited partnerships and other alternative investments [2]	35	20	2	11	14	6	—	1	68	21
Other [3]	-1	-1	-1	-1	-2	-1	-1	-2	-4	-6
Subtotal	159	141	124	132	136	124	118	120	556	498
Investment expense	-6	-5	-6	-6	-6	-5	-6	-6	-23	-23
Total net investment income	153	136	118	126	130	119	112	114	533	475
Annualized investment yield, before tax [4]	5.3%	4.8%	4.1%	4.3%	4.5%	4.1%	3.9%	3.9%	4.6%	4.1%
Annualized limited partnerships and other alternative investment yield, before tax [4]	12.4%	7.1%	0.8%	4.1%	5.2%	2.3%	—%	0.4%	6.3%	2.0%
Annualized investment yield, before tax, excluding limited partnership and other alternative investments [4]	4.5%	4.5%	4.4%	4.4%	4.4%	4.3%	4.3%	4.2%	4.4%	4.3%
Annualized investment yield, net of tax [4]	4.2%	3.8%	3.3%	3.5%	3.6%	3.3%	3.1%	3.1%	3.7%	3.3%
Annualized investment yield, net of tax, excluding limited partnership and other alternative investments [4]	3.6%	3.6%	3.5%	3.5%	3.5%	3.4%	3.4%	3.4%	3.5%	3.4%
Average reinvestment rate [5]	5.6%	5.9%	6.1%	5.8%	5.8%	5.9%	6.6%	6.4%	5.9%	6.1%
Average sales/maturities yield [6]	5.0%	5.1%	4.3%	4.7%	4.8%	4.3%	4.8%	5.2%	4.8%	4.8%
Portfolio duration (in years) [7]	5.0	4.9	5.0	5.0	4.9	5.0	4.9	5.1	5.0	4.9

Net investment income by segment ^{p. 29}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net Investment Income	—	—	—	—	—	—	—	—	—	—
Business Insurance	562	519	449	437	479	442	402	391	1,967	1,714
Personal Insurance	74	67	58	57	64	58	50	50	256	222
P&C Other Operations	20	19	19	18	19	18	19	18	76	74
Total Property & Casualty	656	605	526	512	562	518	471	459	2,299	2,010
Employee Benefits	153	136	118	126	130	119	112	114	533	475
Hartford Funds	7	4	6	4	6	5	5	4	21	20
Corporate	16	14	14	14	16	17	14	16	58	63
Total net investment income by segment	832	759	664	656	714	659	602	593	2,911	2,568

Net investment income from limited partnerships and other alternative investments USD million ^{p. 29}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Total Property & Casualty	125	71	11	28	65	31	16	15	235	127
Employee Benefits	35	20	2	11	14	6	—	1	68	21
Total net investment income from limited partnerships and other alternative investments [1]	160	91	13	39	79	37	16	16	303	148

[1] Amounts are included above in total net investment income by segment ^{p. 29}.

Appendix

The Hartford Insurance Group, Inc. Components of net realized gains (losses) consolidated

Components of net realized gains and losses consolidated for the three months and year ended December 31, 2025 and 2024 ^{p. 30}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Gross gains on sales of fixed maturities	12	17	19	13	8	12	6	5	61	31
Gross losses on sales of fixed maturities	-21	-38	-45	-25	-50	-62	-75	-11	-129	-198
Equity securities [1]	6	27	36	-11	-3	27	14	35	58	73
Net credit losses on fixed maturities, AFS	-2	—	—	2	—	—	-1	-1	—	-2
Change in ACL on mortgage loans	—	-6	—	—	—	—	—	3	-6	3
Other net gains (losses) [2]	-24	-12	-20	-28	28	10	-3	-3	-84	32
Total net realized gains (losses)	-29	-12	-10	-49	-17	-13	-59	28	-100	-61
Net realized losses (gains), included in core earnings, before tax [3]	—	2	—	2	1	1	1	2	4	5
Total net gains (losses) excluded from core earnings, before tax	-29	-10	-10	-47	-16	-12	-58	30	-96	-56
Income tax benefit (expense) related to net realized gains (losses) excluded from core earnings	6	2	1	10	3	4	12	-7	19	12
Total net realized gains (losses) excluded from core earnings, after tax	-23	-8	-9	-37	-13	-8	-46	23	-77	-44

[1] Includes all changes in fair value and trading gains and losses for equity securities ^{p. 30}.
[2] Includes changes in value of fair value option securities and non-qualifying derivatives, including credit derivatives, interest rate derivatives used to manage duration, and equity derivatives; also includes periodic net coupon settlements on credit derivatives, which are included in core earnings, as well as transactional foreign currency revaluation ^{p. 30}.
[3] Represents net periodic settlements on credit derivatives ^{p. 30}.

The Hartford Insurance Group, Inc. composition of invested assets consolidated as of Dec 31 2025, Sept 30 2025, Jun 30 2025, Mar 31 2025, and Dec 31 2024 ^{p. 31}
USD million unless otherwise mentioned	Dec 31 2025 Amount [1]	Dec 31 2025 Percent	Sept 30 2025 Amount	Sept 30 2025 Percent	Jun 30 2025 Amount	Jun 30 2025 Percent	Mar 31 2025 Amount	Mar 31 2025 Percent	Dec 31 2024 Amount [1]	Dec 31 2024 Percent
Total investments	63,957	100.0%	62,568	100.0%	60,903	100.0%	60,094	100.0%	59,210	100.0%
Asset-backed securities	4,663	10.1%	4,506	10.0%	4,376	9.8%	4,333	9.8%	3,937	9.3%
Collateralized loan obligations	3,316	7.2%	3,379	7.5%	3,393	7.6%	3,396	7.7%	3,250	7.6%
Commercial mortgage-backed securities	2,328	5.1%	2,498	5.5%	2,585	5.8%	2,754	6.2%	2,736	6.4%
Corporate	23,076	50.1%	23,079	51.0%	22,525	50.6%	21,646	49.0%	20,636	48.5%
Foreign government/government agencies	447	1.0%	409	0.9%	455	1.0%	481	1.1%	480	1.1%
Municipal	4,652	10.1%	4,481	9.9%	4,650	10.4%	5,030	11.4%	5,304	12.5%
Residential mortgage-backed securities	6,178	13.4%	5,778	12.8%	5,513	12.4%	5,558	12.5%	5,230	12.3%
U.S. Treasuries	1,381	3.0%	1,073	2.4%	1,061	2.4%	1,006	2.3%	994	2.3%
Total fixed maturities, AFS [2]	46,041	100.0%	45,203	100.0%	44,558	100.0%	44,204	100.0%	42,567	100.0%
Credit Ratings of Total Fixed Maturities, AFS [2]	—	—	—	—	—	—	—	—	—	—
U.S. government/government agencies	5,929	12.9%	5,277	11.7%	5,130	11.5%	5,126	11.6%	4,937	11.6%
AAA	7,751	16.8%	7,482	16.6%	7,333	16.4%	7,573	17.2%	7,166	16.8%
AA	7,340	15.9%	7,313	16.2%	7,439	16.7%	7,423	16.8%	7,484	17.6%
A	12,470	27.1%	12,628	27.9%	12,239	27.5%	11,639	26.3%	10,933	25.7%
BBB	10,250	22.3%	10,179	22.5%	10,070	22.6%	10,125	22.9%	9,722	22.8%
BB	1,818	4.0%	1,778	3.9%	1,726	3.9%	1,775	4.0%	1,777	4.2%
B	470	1.0%	534	1.2%	609	1.4%	529	1.2%	542	1.3%
CCC	13	—%	12	—%	12	—%	13	—%	5	—%
CC & below	—	—%	—	—%	—	—%	1	—%	1	—%
Total fixed maturities, AFS [2]	46,041	100.0%	45,203	100.0%	44,558	100.0%	44,204	100.0%	42,567	100.0%

[1] Amount represents the value at which the assets are presented in the Consolidating Balance Sheets (page 4) ^{p. 31}.
[2] Fixed maturities, at fair value using the fair value option are not included ^{p. 31}.

The Hartford Insurance Group, Inc. Invested asset exposures December 31, 2025

Invested asset exposures detailed by sector and issuer as of December 31, 2025 ^{p. 32}.

Top ten corporate fixed maturity, AFS and equity exposures by sector ^{p. 32}
USD million unless otherwise mentioned	Cost or Amortized Cost	Fair Value	Percent of Total Invested Assets
Financial services	7,019	6,981	10.9%
Technology and communications	3,400	3,341	5.2%
Consumer non-cyclical	2,860	2,830	4.4%
Utilities	2,793	2,716	4.2%
Capital goods	1,757	1,771	2.8%
Consumer cyclical	1,667	1,666	2.6%
Energy	1,457	1,446	2.3%
Basic industry	1,258	1,257	2.0%
Transportation	862	840	1.3%
Other	724	720	1.1%
Total	23,797	23,568	36.8%

Top ten exposures by issuer ^{p. 32}
USD million	Cost or Amortized Cost	Fair Value	Percent of Total Invested Assets
Morgan Stanley	221	219	0.3%
SPCC Funding I LLC	189	190	0.3%
Entergy Corporation	199	190	0.3%
Hyundai Motor Company	185	182	0.3%
Goldman Sachs Group Inc.	189	182	0.3%
Government of Canada	179	180	0.3%
NextEra Energy Inc.	181	176	0.3%
Duke Energy Corporation	166	170	0.3%
Enterprise Holdings Inc.	165	168	0.2%
Pfizer Inc.	165	163	0.2%
Total	1,839	1,820	2.8%

Reporting segments: The Hartford conducts business principally in five reportable segments: Business Insurance, Personal Insurance, Property & Casualty Other Operations ("P&C Other Operations"), Employee Benefits, and Hartford Funds, as well as a Corporate category ^{p. 33}.
Property & Casualty (P&C): Consists of Business Insurance, Personal Insurance, and P&C Other Operations ^{p. 33}.
- Business Insurance: Provides workers' compensation, property, automobile, general liability, umbrella, package business, professional liability, bond, marine, livestock, accident and health, assumed reinsurance, and other product lines to businesses in the United States and internationally ^{p. 33}.
- Personal Insurance: Provides standard automobile, homeowners, and personal umbrella coverages to individuals across the United States, including a special program designed exclusively for members of AARP ^{p. 33}.
- P&C Other Operations: Includes certain property and casualty operations managed by the Company that have discontinued writing new business and includes substantially all asbestos and environmental exposures ^{p. 33}.
Employee Benefits: Provides employers and associations with group life, accident, and disability coverage, voluntary benefits, and group retiree health ^{p. 33}.
Hartford Funds: Offers investment products for retail and retirement accounts and provides investment management, distribution, and administrative services ^{p. 33}.
Corporate: Includes reserves for run-off structured settlement and terminal funding agreement liabilities, restructuring costs, capital raising activities, transaction expenses, certain M&A costs, purchase accounting adjustments related to goodwill, and other unallocated expenses ^{p. 33}.
Operating and statistical measures:
- Net new business premium: Premiums charged, after ceded reinsurance, for policies issued to customers who were not insured with the Company in the previous policy term ^{p. 33}.
- Gross new business premium: Premiums charged, before ceded reinsurance, for policies issued to customers who were not insured with the Company in the previous policy term ^{p. 33}.
- Renewal written price increases: Represents the combined effect of rate changes and individual risk pricing decisions per unit of exposure (Business Insurance) or total change in premium per policy (Personal Insurance) since the prior year on renewed policies ^{p. 33}.
- Policy count retention: For small business, the number of renewal policies issued during the current period divided by the new and renewal policies issued in the prior period ^{p. 33}.
- Effective policy count retention: For Personal Insurance, the number of policies expected to renew in the current period divided by the new and renewal policies effective in the prior period ^{p. 33}.
- Premium retention: For middle & large business, the ratio of prior period premiums successfully renewed divided by premiums associated with policies available for renewal in the current period ^{p. 33}.
- Policies in-force: Represents the number of policies with coverage in effect as of the end of the period ^{p. 33}.
Underwriting ratios:
- Loss and loss adjustment expense ratio: Ratio of losses and loss adjustment expenses to earned premiums ^{p. 33}.
- Expense ratio: Ratio of underwriting expenses less fee income to earned premiums ^{p. 33}.
- Combined ratio: Sum of the loss and loss adjustment expense ratio, the expense ratio, and the policyholder dividend ratio ^{p. 33}.
- Current accident year catastrophe ratio: Ratio of catastrophe losses and loss adjustment expenses incurred in the current accident year to earned premiums ^{p. 33}.
- Prior accident year loss and loss adjustment expense ratio: Increase (decrease) in the estimated cost of settling claims incurred in prior accident years divided by earned premiums ^{p. 33}.

Catastrophe definition: A severe loss resulting from natural or man-made events (including fire, earthquake, windstorm, explosion, terrorist attack, civil unrest, and similar events) ^{p. 34}.
- For U.S. events, defined by the Property Claim Service office of Verisk as causing USD 25m or more in industry insured property losses and affecting a significant number of property and casualty policyholders and insurers ^{p. 34}.
- For international events, the approach is similar, informed in part by how Lloyd's of London defines major losses ^{p. 34}.
Employee Benefits metrics:
- Loss ratio: Ratio of benefits, losses, and loss adjustment expenses (excluding those related to buyout premiums) to premiums and other considerations (excluding buyout premiums) ^{p. 34}.
- Expense ratio: Ratio of insurance operating costs and other expenses (excluding integration and other non-recurring M&A costs) to premiums and other considerations (excluding buyout premiums) ^{p. 34}.
- Buyout premiums: Represent takeover of open claim liabilities and other non-recurring premium amounts ^{p. 34}.
Hartford Funds segment: Provides supplemental data on sales, redemptions, net flows, and account value indicating current trends ^{p. 34}.
Core earnings: Non-GAAP measure used to evaluate ongoing performance by excluding the net effect of certain items ^{p. 34}:
- Certain realized gains and losses: Excludes highly variable capital market-driven gains and losses, but includes those integrally related to operations (such as net periodic settlements on credit derivatives) ^{p. 34}.
- Restructuring and other costs: Non-recurring costs incurred as part of a restructuring plan ^{p. 34}.
- Loss on extinguishment of debt: Make-whole payments or tender premiums upon paying debt off before maturity ^{p. 34}.
- Gains and losses on reinsurance transactions: Gains or losses on reinsurance entered into upon sale of a business or to reinsure loss reserves ^{p. 34}.
- Integration and other non-recurring M&A costs: Transaction and integration costs from acquired businesses ^{p. 34}.
- Change in loss reserves upon acquisition: Excluded to maintain comparability of results across periods ^{p. 34}.
- Deferred gain on retroactive reinsurance: Deferred gain and subsequent changes/amortization resulting from retroactive reinsurance ^{p. 34}.
- Tax valuation allowance changes: Valuation allowance changes on deferred taxes related to non-core components of before-tax income ^{p. 34}.
- Discontinued operations: Results of businesses sold or held for sale ^{p. 34}.
- Preferred stock dividends: Included in core earnings (though excluded from GAAP net income) as they are a cost of financing akin to interest expense ^{p. 34}.

Core earnings per share is a non-GAAP per share measure calculated using core earnings rather than U.S. GAAP net income, providing a valuable measure of operating performance ^{p. 35}.
Core earnings per diluted share is a non-GAAP per share measure calculated using core earnings rather than U.S. GAAP net income to evaluate operating performance ^{p. 35}.
Book value per diluted share (excluding AOCI) is a non-GAAP per share measure calculated by dividing common stockholders' equity, excluding AOCI, after tax, by common shares outstanding and dilutive potential common shares ^{p. 35}.
- Eliminates the effect of items that fluctuate significantly from period to period, primarily based on changes in interest rates ^{p. 35}.
- Reconciliations of book value per common share and book value per diluted share to book value per common share, excluding AOCI and book value per diluted share, excluding AOCI, are set forth on page 1 ^{p. 35}.

Reconciliation of net income available to common stockholders per share to core earnings per share ^{p. 35}
USD	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025	Dec 31 2024
Net Income available to common stockholders per share	4.05	3.82	3.49	2.18	2.93	2.60	2.48	2.51	13.51	10.51
Net realized losses (gains), excluded from core earnings, before tax	0.10	0.04	0.04	0.16	0.06	0.04	0.20	-0.10	0.34	0.19
Restructuring and other costs, before tax	—	—	—	—	—	—	—	—	—	0.01
Integration and other non-recurring M&A costs, before tax	—	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.03
Change in deferred gain on retroactive reinsurance, before tax	—	-0.03	-0.08	-0.11	0.01	-0.09	-0.13	-0.08	-0.23	-0.28
Income tax expense (benefit) on items excluded from core earnings	-0.02	-0.01	—	-0.01	-0.02	0.01	-0.02	0.04	-0.02	0.01
Core earnings per share	4.13	3.83	3.46	2.23	2.99	2.57	2.54	2.38	13.62	10.47

Reconciliation of net income available to common stockholders per diluted share to core earnings per diluted share ^{p. 35}
USD	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025	Dec 31 2024
Net Income available to common stockholders per diluted share	3.98	3.77	3.44	2.15	2.88	2.56	2.44	2.47	13.32	10.35
Net realized losses (gains), excluded from core earnings, before tax	0.10	0.04	0.03	0.16	0.05	0.04	0.19	-0.10	0.34	0.19
Restructuring and other costs, before tax	—	—	—	—	—	—	—	—	—	0.01
Integration and other non-recurring M&A costs, before tax	—	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.03
Change in deferred gain on retroactive reinsurance, before tax	—	-0.03	-0.08	-0.11	0.01	-0.09	-0.12	-0.08	-0.22	-0.28
Income tax expense (benefit) on items excluded from core earnings	-0.02	-0.01	0.01	-0.01	-0.01	0.01	-0.02	0.04	-0.04	—
Core earnings per diluted share	4.06	3.78	3.41	2.20	2.94	2.53	2.50	2.34	13.42	10.30

Core earnings ROE is a non-GAAP financial measure calculated by dividing core earnings for the prior four fiscal quarters by average common stockholders' equity, excluding AOCI ^{p. 39}.
Net income ROE is the most directly comparable U.S. GAAP measure ^{p. 39}.
Common stockholders' equity, excluding AOCI is a non-GAAP measure calculated as total stockholders' equity less preferred stock and AOCI ^{p. 39}.
Total capitalization, excluding AOCI, net of tax is calculated as total debt plus total stockholders' equity, excluding the impacts of AOCI included in stockholders' equity ^{p. 39}.

Reconciliation of Net income ROE to Core earnings ROE for the last twelve months ended ^{p. 39}
Ratio	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024
Net income ROE	22.0%	20.3%	19.8%	18.8%	19.9%	20.0%	19.8%	18.5%
Adjustments to reconcile net income (loss) ROE to core earnings ROE:	—	—	—	—	—	—	—	—
Net realized losses (gains), excluded from core earnings, before tax	0.6%	0.5%	0.5%	0.8%	0.4%	0.4%	0.8%	0.8%
Integration and other non-recurring M&A costs, before tax	—%	—%	—%	0.1%	0.1%	0.1%	0.1%	0.1%
Change in deferred gain on retroactive reinsurance, before tax	(0.4%)	(0.3%)	(0.5%)	(0.6%)	(0.5%)	0.7%	0.9%	1.2%
Income tax benefit on items not included in core earnings	(0.1%)	—%	—%	(0.1%)	—%	(0.2%)	(0.4%)	(0.4%)
Impact of AOCI, excluded from denominator of core earnings ROE	(2.7%)	(2.1%)	(2.8%)	(2.8%)	(3.2%)	(3.6%)	(3.8%)	(3.6%)
Core earnings ROE	19.4%	18.4%	17.0%	16.2%	16.7%	17.4%	17.4%	16.6%

Underwriting gain (loss): A before-tax non-GAAP financial measure representing earned premiums less incurred losses, loss adjustment expenses, and underwriting expenses ^{p. 40}.
Underlying underwriting gain (loss): A non-GAAP measure representing underwriting gain (loss) before current accident year catastrophes, prior accident year development (PYD), and current accident year change in loss reserves upon acquisition of a business ^{p. 40}.

Property & Casualty reconciliation of net income to underlying underwriting gain ^{p. 40}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net income	968	861	800	495	706	569	540	615	3,124	2,430
Net investment income	-656	-605	-526	-512	-562	-518	-471	-459	-2,299	-2,010
Net realized losses (gains)	25	30	26	26	9	34	61	-13	107	91
Net servicing and other (income) expense	-2	-3	-4	-4	-2	—	-5	-2	-13	-9
Income tax expense	251	219	201	125	180	143	129	138	796	590
Underwriting gain	586	502	497	130	331	228	254	279	1,715	1,092
Current accident year catastrophes	-1	70	212	467	80	247	280	161	748	768
Prior accident year development	-12	-103	-187	-122	101	-50	-115	-56	-424	-120
Underlying underwriting gain	573	469	522	475	512	425	419	384	2,039	1,740

Business Insurance reconciliation of net income to underlying underwriting gain ^{p. 40}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net income	897	710	696	477	708	528	540	573	2,780	2,349
Net investment income	-562	-519	-449	-437	-479	-442	-402	-391	-1,967	-1,714
Net realized losses (gains)	21	26	20	24	3	32	50	-12	91	73
Other expense (income)	1	—	1	1	1	1	1	2	3	5
Income tax expense	234	180	176	122	183	134	130	129	712	576
Underwriting gain	591	397	444	187	416	253	319	301	1,619	1,289
Current accident year catastrophes	-12	39	114	280	67	155	155	109	421	486
Prior accident year development	-152	-60	-146	-83	-58	-36	-81	-56	-441	-231
Underlying underwriting gain	427	376	412	384	425	372	393	354	1,599	1,544

Underlying combined ratio defined as a non-GAAP financial measure of underwriting results representing the combined ratio before catastrophes, prior accident year development, and current accident year change in loss reserves upon acquisition of a business ^{p. 38}.
The Company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year loss and loss adjustment expense reserve development ^{p. 38}.

Personal Insurance underwriting gain reconciliation ^{p. 38}
USD million	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025	Dec 31 2024
Net income (loss)	212	139	91	5	154	31	-11	34	447	208
Net investment income	-74	-67	-58	-57	-64	-58	-50	-50	-256	-222
Net realized losses (gains)	3	4	4	2	5	2	8	-1	13	14
Net servicing and other (income) expense	-3	-4	-5	-5	-3	-5	-6	-4	-17	-18
Income tax expense (benefit)	55	35	23	—	37	8	-4	8	113	49
Underwriting gain (loss)	193	107	55	-55	129	-22	-63	-13	300	31
Current accident year catastrophes	11	31	98	187	13	92	125	52	327	282
Prior accident year development	-56	-43	-41	-39	-53	-14	-34	-7	-179	-108
Underlying underwriting gain	148	95	112	93	89	56	28	32	448	205

P&C Other Operations underwriting loss reconciliation ^{p. 38}
USD million	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025	Dec 31 2024
Net income (loss)	-141	12	13	13	-156	10	11	8	-103	-127
Net investment income	-20	-19	-19	-18	-19	-18	-19	-18	-76	-74
Net realized losses	1	—	2	—	1	—	3	—	3	4
Other expense	—	1	—	—	—	4	—	—	1	4
Income tax expense (benefit)	-38	4	2	3	-40	1	3	1	-29	-35
Underwriting loss	-198	-2	-2	-2	-214	-3	-2	-9	-204	-228
Prior accident year development	196	—	—	—	212	—	—	—	196	219
Underlying underwriting loss	-2	-2	-2	-2	-2	-3	-2	-2	-8	-9

Underlying loss and loss adjustment expense ratio defined as the cost of non-catastrophe loss and loss adjustment expenses incurred in the current accident year divided by earned premiums ^{p. 39}.
Management believes this performance measure is useful to investors as it removes the impact of volatile and unpredictable catastrophe losses and prior accident year development (PYD) ^{p. 39}.

Property & Casualty loss and loss adjustment expense ratio reconciliation ^{p. 39}
Ratio	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Loss and loss adjustment expense ratio	56.2	58.5	58.8	66.3	61.9	64.4	63.3	62.3	59.9	63.0
Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:	—	—	—	—	—	—	—	—	—	—
Current accident year catastrophes and prior accident year development	0.3	0.7	-0.6	-8.2	-4.3	-4.8	-4.2	-2.7	-1.8	-4.0
Underlying loss and loss adjustment expense ratio	56.5	59.3	58.3	58.1	57.6	59.6	59.1	59.6	58.0	59.0

Business Insurance loss and loss adjustment expense ratio reconciliation ^{p. 39}
Ratio	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Loss and loss adjustment expense ratio	51.5	57.3	56.1	62.8	56.3	61.0	58.4	58.3	56.8	58.5
Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:	—	—	—	—	—	—	—	—	—	—
Current accident year catastrophes and prior accident year development	4.5	0.6	1.0	-5.9	-0.2	-3.7	-2.4	-1.8	0.2	-2.0
Underlying loss and loss adjustment expense ratio	56.1	57.9	57.0	56.9	56.0	57.3	56.1	56.6	57.0	56.5

Personal Insurance loss and loss adjustment expense ratio reconciliation ^{p. 39}
Ratio	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Loss and loss adjustment expense ratio	53.3	62.9	69.0	79.1	59.3	76.8	81.0	76.3	65.9	73.1
Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:	—	—	—	—	—	—	—	—	—	—
Current accident year catastrophes and prior accident year development	4.7	1.2	-6.1	-16.5	4.4	-8.8	-10.7	-5.5	-4.0	-5.1
Underlying loss and loss adjustment expense ratio	58.1	64.2	62.8	62.6	63.7	68.0	70.3	70.7	61.9	68.1

Core earnings margin defined as a non-GAAP measure to evaluate Employee Benefits segment operating performance; calculated by dividing core earnings by revenues, excluding buyouts and realized gains (losses) ^{p. 40}.
Return on Assets ("ROA"), Core Earnings defined as a non-GAAP measure to evaluate Hartford Funds segment operating performance; calculated by dividing annualized core earnings by daily average AUM ^{p. 40}.

Employee Benefits net income margin to core earnings margin reconciliation ^{p. 40}
%	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Net income margin	7.2%	8.1%	8.5%	7.4%	7.1%	8.8%	9.7%	6.2%	7.8%	7.9%
Net realized losses (gains), before tax	0.5%	0.4%	0.8%	0.3%	0.8%	(0.1%)	0.4%	(0.1%)	0.5%	0.4%
Income tax benefit	(0.1%)	(0.2%)	(0.1%)	(0.1%)	(0.1%)	-%	(0.1%)	-%	(0.1%)	(0.1%)
Core earnings margin	7.6%	8.3%	9.2%	7.6%	7.8%	8.7%	10.0%	6.1%	8.2%	8.2%

Hartford Funds ROA to ROA, core earnings reconciliation ^{p. 40}
Ratio	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Return on Assets ("ROA")	15.4	15.4	15.6	12.1	13.8	15.7	13.1	13.7	14.6	14.1
Effect of net realized losses (gains), excluded from core earnings, before tax	-0.3	-1.3	-2.6	—	0.8	-2.1	-0.9	-1.5	-1.0	-0.8
Effect of income tax expense (benefit)	—	0.2	0.3	0.3	-0.3	—	0.6	0.3	0.2	—
Return on Assets ("ROA"), core earnings	15.1	14.3	13.3	12.4	14.3	13.6	12.8	12.5	13.8	13.3

Non-GAAP measure definition: Net investment income excluding limited partnerships and other alternative investments is defined as net investment income on a Consolidated, P&C, or Employee Benefits level, excluding income from limited partnerships and other alternative investments ^{p. 44}.
Management rationale: The Company believes this measure provides investors with an important metric for analyzing trends in investment earnings by excluding the volatility associated with limited partnerships and other alternative investments ^{p. 44}.

Consolidated net investment income reconciliation ^{p. 44}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Total net investment income	832	759	664	656	714	659	602	593	2,911	2,568
Adjustment for income from limited partnerships and other alternative investments	-160	-91	-13	-39	-79	-37	-16	-16	-303	-148
Net investment income excluding limited partnerships and other alternative investments	672	668	651	617	635	622	586	577	2,608	2,420

Property & Casualty net investment income reconciliation USD million ^{p. 44}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Total net investment income	656	605	526	512	562	518	471	459	2,299	2,010
Adjustment for income from limited partnerships and other alternative investments	-125	-71	-11	-28	-65	-31	-16	-15	-235	-127
Net investment income excluding limited partnerships and other alternative investments	531	534	515	484	497	487	455	444	2,064	1,883

Employee Benefits net investment income reconciliation USD million ^{p. 44}
USD million	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Total net investment income	153	136	118	126	130	119	112	114	533	475
Adjustment for income from limited partnerships and other alternative investments	-35	-20	-2	-11	-14	-6	—	-1	-68	-21
Net investment income excluding limited partnerships and other alternative investments	118	116	116	115	116	113	112	113	465	454

Annualized investment yield, excluding limited partnerships and other alternative investments is a non-GAAP measure calculated as (a) annualized net investment income, on a Consolidated, P&C, or Employee Benefits level, excluding limited partnerships and other alternative investments, divided by (b) monthly average invested assets at amortized cost, excluding derivatives book value and limited partnerships and other alternative investments ^{p. 42}.
The Company believes this provides investors with an important measure of the trend in investment earnings by excluding volatility from limited partnerships and other alternative investments ^{p. 42}.

Consolidated annualized investment yield reconciliation ^{p. 42}
—	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Annualized investment yield	5.2%	4.8%	4.3%	4.3%	4.7%	4.4%	4.1%	4.1%	4.7%	4.3%
Adjustment for income from limited partnerships and other alternative investments	(0.6%)	(0.2%)	0.3%	0.1%	(0.1%)	0.1%	0.3%	0.2%	(0.2%)	0.1%
Annualized investment yield excluding limited partnerships and other alternative investments	4.6%	4.6%	4.6%	4.4%	4.6%	4.5%	4.4%	4.3%	4.5%	4.4%

Property & Casualty annualized investment yield reconciliation ^{p. 42}
—	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Annualized investment yield	5.2%	4.9%	4.4%	4.3%	4.8%	4.5%	4.2%	4.1%	4.7%	4.4%
Adjustment for income from limited partnerships and other alternative investments	(0.6%)	(0.2%)	0.3%	0.1%	(0.2%)	0.1%	0.2%	0.2%	(0.1%)	0.1%
Annualized investment yield excluding limited partnerships and other alternative investments	4.6%	4.7%	4.7%	4.4%	4.6%	4.6%	4.4%	4.3%	4.6%	4.5%

Employee Benefits annualized investment yield reconciliation ^{p. 42}
—	Three Months Ended Dec 31 2025	Three Months Ended Sept 30 2025	Three Months Ended Jun 30 2025	Three Months Ended Mar 31 2025	Three Months Ended Dec 31 2024	Three Months Ended Sept 30 2024	Three Months Ended Jun 30 2024	Three Months Ended Mar 31 2024	Year Ended Dec 31 2025	Year Ended Dec 31 2024
Annualized investment yield	5.3%	4.8%	4.1%	4.3%	4.5%	4.1%	3.9%	3.9%	4.6%	4.1%
Adjustment for income from limited partnerships and other alternative investments	(0.8%)	(0.3%)	0.3%	0.1%	(0.1%)	0.2%	0.4%	0.3%	(0.2%)	0.2%
Annualized investment yield excluding limited partnerships and other alternative investments	4.5%	4.5%	4.4%	4.4%	4.4%	4.3%	4.3%	4.2%	4.4%	4.3%

Abbreviations

AARP: American Association of Retired Persons
ACL: allowance for credit losses
ADC: adverse development cover
AFS: available-for-sale
AOCI: accumulated other comprehensive income
AUM: assets under management
CT: Connecticut
DAC: deferred policy acquisition costs
ETF: Exchange-Traded Funds
GAAP: generally accepted accounting principles
HHI: Hartford Holdings, Inc.
HIG: Hartford Insurance Group
HLA: Hartford Life and Accident Insurance Company
KY: Kentucky
LLC: Limited Liability Company
NR: Not Rated
PYD: prior accident year development
ROA: Return on Assets
ROE: Return on Common Stockholders' Equity
SPCC: SPCC Funding I
STAT: statutory accounting principles
SVP: Senior Vice President
ULAE: unallocated loss adjustment expense

The Hartford/2025/FY/Investor Financial Supplement

Consolidated financial results

The Hartford

The Hartford Insurance Group, Inc.

The Hartford Insurance Group, Inc.

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

The Hartford Insurance Group, Inc. Statutory capital to GAAP stockholders' equity reconciliation December 31, 2025

The Hartford Insurance Group, Inc. Accumulated other comprehensive income (loss)

The Hartford Insurance Group, Inc. Property & Casualty

The Hartford Insurance Group, Inc. Property & Casualty income statements (continued)

The Hartford Insurance Group, Inc. Property & Casualty underwriting ratios

The Hartford Insurance Group, Inc. Business insurance income statements

The Hartford Insurance Group, Inc. Business insurance income statements (continued)

The Hartford Insurance Group, Inc. Business insurance underwriting ratios

Table of Contents

The Hartford Insurance Group, Inc. Personal insurance income statements

The Hartford Insurance Group, Inc. Personal insurance income statements (continued)

The Hartford Insurance Group, Inc. Personal insurance underwriting ratios

The Hartford Insurance Group, Inc. Personal insurance supplemental data

The Hartford Insurance Group, Inc. Personal insurance supplemental data (continued)

The Hartford Insurance Group, Inc. P&C other operations income statements

The Hartford Insurance Group, Inc.

The Hartford Insurance Group, Inc. Employee benefits supplemental data

The Hartford Insurance Group, Inc. Hartford Funds income statements

The Hartford Insurance Group, Inc.

The Hartford Insurance Group, Inc. Corporate

The Hartford Insurance Group, Inc. Investment income before tax consolidated

The Hartford Insurance Group, Inc. Investment income before tax Property & Casualty

The Hartford Insurance Group, Inc. Investment income before tax employee benefits

Table of Contents

Appendix

The Hartford Insurance Group, Inc. Components of net realized gains (losses) consolidated

Table of Contents

The Hartford Insurance Group, Inc. Invested asset exposures December 31, 2025

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Table of Contents

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Table of Contents

Table of Contents

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Table of Contents

Abbreviations