The Hartford/2025/FY/Financial supplement

Document info
Organization	The Hartford
Year	2025
Period	FY
Period label	FY25
Document type	Financial supplement
Publication date	2025-12-31
Language	English
Pages	45
Source	Original URL
Archive file	.md file

This article summarizes The Hartford's full-year 2025 Financial supplement, published on 31 December 2025.

• Measures in financial statements and exhibits not based on generally accepted accounting principles (non-GAAP) are marked with an asterisk (*) the first time they appear ^{p. 1}.
• Non-GAAP measures are defined in the "Discussion of Non-GAAP Financial Measures" section and reconciled to the most directly comparable GAAP measure ^{p. 1}.
• [Chart/image description:] The Hartford logo is in the top right corner ^{p. 1}.
• [Chart/image description:] A large black silhouette of a deer with prominent antlers, facing right, is on the left side ^{p. 1}.
• [Chart/image description:] "Investor Financial Supplement" and "December 31, 2025" are in a dark blue font ^{p. 1}.
• [Chart/image description:] The disclaimer text is smaller and black ^{p. 1}.

| | | | | | | | | | | | | | | | | |

—	- 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
Internet address:	NR - Not Rated
http://www.thehartford.com	—

—	Other Ratings:
Contact:	Senior debt
Kate Jorens	Junior subordinated debentures
SVP, Treasurer & Head of Investor Relations	Preferred stock
Phone (860) 547-4066	-The Hartford Insurance Group, Inc. senior debt, junior subordinated debentures, and preferred stock are on stable outlook at A.M. Best, Standard and Poor's and Moody's

Transfer Agent
Stockholder correspondence should be mailed to:	Overnight correspondence should be mailed to:
Computershare	Computershare
P.O. Box 505000	462 South 4th Street, Suite 1600
Louisville, KY 40233	Louisville, KY 40202

• Common stock and preferred stock of The Hartford Insurance Group, Inc. are traded on the New York Stock Exchange under symbols 'HIG' and "HIG PR G", respectively ^{p. 2}.
• This report is for information purposes only ^{p. 2}.
• The report should be read with documents filed by The Hartford Insurance Group, Inc. with the U.S. Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q ^{p. 2}.

The Hartford Insurance Group, Inc. consolidated financial results

| | | | | |

—	Accumulated Other Comprehensive Income (Loss)	7
Property & Casualty	Property & Casualty Income Statements	8

—	P&C Other Operations Income Statements	20

—	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

—	Invested Asset Exposures	32
Appendix	Basis of Presentation and Definitions	33

• Net income available to common stockholders includes the impact of preferred stock dividends ^{p. 4}.
• 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. 4}.
• A reconciliation of Net income ROE to Core earnings ROE is available in the Appendix starting on page 33 ^{p. 4}.

USD million	Three Months Ended						Three Months Ended			Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	—	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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 %	—	—

• Restructuring costs relate to the Company's Hartford Next operational transformation and cost reduction plan ^{p. 5}.
• Integration costs are connected with the 2019 acquisition of Navigators Group ^{p. 5}.
• The Company recorded amortization of the deferred gain related to the Navigators adverse development cover ("Navigators ADC") of $64 for the year ended December 31, 2025 ^{p. 5}.
• The amortization of the deferred gain related to the Navigators ADC was $58 for the three months ended December 31, 2024 ^{p. 5}.
• The amortization of the deferred gain related to the Navigators ADC was $145 for the year ended December 31, 2024 ^{p. 5}.
• The deferred gain has been fully amortized as of September 30, 2025 ^{p. 5}.
• For the three and twelve month periods ended December 31, 2024, the Company ceded $62 of losses under the asbestos and environmental adverse development cover ("A&E ADC"), which increased the deferred gain ^{p. 5}.
• Federal income tax expense (benefit) primarily relates to before tax items not included in core earnings ^{p. 5}.

The Hartford Insurance Group, Inc. operating results by segment

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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
Property & Casualty Other Operations ("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

• Corporate investments include fixed maturities, short-term investments, investment sales receivable, and cash of approximately $1.5bn as of December 31, 2025 ^{p. 7}.
• Corporate investments include fixed maturities, short-term investments, investment sales receivable, and cash of approximately $1.3bn as of December 31, 2024 ^{p. 7}.
• These corporate investments are held by the holding company of The Hartford Insurance Group, Inc. ^{p. 7}.
• Corporate investments also include investments held by Hartford Life and Accident Insurance Company ("HLA") that support reserves for run-off structured settlement and terminal funding agreement liabilities ^{p. 7}.
• Corporate includes retained reserves and reinsurance recoverables for the run-off life and annuity business sold in May 2018 ^{p. 7}.

The Hartford Insurance Group, Inc. capital structure

USD million	Property & Casualty		Employee Benefits		Hartford Funds		Corporate [1]		Consolidated
—	Dec 31 2025	Dec 31 2024	Dec 31 2025	Dec 31 2024	Dec 31 2025	Dec 31 2024	Dec 31 2025	Dec 31 2024	Dec 31 2025	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	-	2	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

• Leverage calculation includes adjustments for unfunded pension liability, lease liabilities, and uncollateralized letters of credit for Lloyd's of London, totaling USD 0.3bn as of December 31, 2025, and 2024 ^{p. 8}.
• Equity credit of 50% is applied to outstanding junior subordinated debentures and preferred stock, based on rating agency methodology ^{p. 8}.
• Fixed charge coverage ratio is calculated as year-to-date total earnings divided by year-to-date total fixed charges ^{p. 8}.
• Total earnings represent income before income taxes and total fixed charges (excluding preferred stock dividends), less undistributed earnings from limited partnerships and other alternative investments ^{p. 8}.
• Total fixed charges include interest expense, preferred stock dividends, interest factor attributable to rent expense, capitalized interest, and amortization of debt issuance costs ^{p. 8}.

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
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

USD million	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

USD million	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

• Statutory net income is reported for the year ended December 31, 2025 ^{p. 9}.
• Insurance operations based in the U.K. are excluded from these figures ^{p. 9}.
• Statutory capital and surplus is collectively referred to as "statutory capital" for reporting purposes ^{p. 9}.
• Statutory capital for property and casualty insurance subsidiaries in the table excludes the value of an intercompany note owed by Hartford Holdings, Inc. (HHI) to Hartford Fire Insurance Company ^{p. 9}.
• Deferred tax asset limitations represent restrictions on the recognition of deferred tax assets under U.S. statutory accounting principles (U.S. STAT) ^{p. 9}.
• Tax timing differences represent discrepancies between U.S. GAAP and U.S. STAT ^{p. 9}.
• Deferred gain on retroactive reinsurance relates to U.S. entities for losses ceded to the asbestos and environmental adverse development cover (A&E ADC) agreement ^{p. 9}.
• This deferred gain is recognized within a special category of surplus under U.S. STAT but is recorded within other liabilities under U.S. GAAP ^{p. 9}.

USD million	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	-

The Hartford Insurance Group, Inc. Property & Casualty

• Income Statements are presented on page 11 ^{p. 11}.

USD million	As Of
—	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)

• Information regarding the change in deferred gain on retroactive reinsurance is available in footnote [3] on page 2 ^{p. 11}.
• Footnote [2] primarily refers to federal income tax expense (benefit) related to pre-tax items not included in core earnings ^{p. 11}.
• Net income ROE and Core earnings ROE are calculated by allocating a portion of debt, interest expense, preferred stock, and preferred stock dividends from Corporate to Property & Casualty ^{p. 11}.

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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 %	—	—

• A&E reserves were reviewed in Q4 2025 and 2024 ^{p. 12}.
• The 2025 study resulted in a reserve increase of $165 ^{p. 12}.
• The 2024 study resulted in a reserve increase of $203 before ADC reinsurance ^{p. 12}.
• Of the 2024 reserve increase, $62 was recorded as a deferred gain on retroactive reinsurance and excluded from core earnings ^{p. 12}.
• Any net adverse loss development above the treaty limit, including $165 and $141 recognized in the three months ended December 31, 2025 and 2024, respectively, is reflected in core earnings ^{p. 12}.
• For 2025, total A&E reserve development included a $122 increase in asbestos reserves and a $43 increase in environmental reserves ^{p. 12}.
• For 2024, total A&E reserve development included a $167 increase in asbestos reserves and a $36 increase in environmental reserves ^{p. 12}.
• Other reserve re-estimates for the three months ended December 31, 2025 and 2024 primarily included increases in unallocated loss adjustment expense (ULAE) reserves of $31 and $28, respectively, within P&C Other Operations ^{p. 12}.
• The ULAE reserve increases were driven by the increase in gross A&E reserves ^{p. 12}.
• The years ended December 31, 2025 and 2024 also included a favorable change of $(34) and $(32), respectively, in automobile physical damage reserves within Personal Insurance ^{p. 12}.
• Information about the change in deferred gain on retroactive reinsurance is provided in footnote [3] on page 2 ^{p. 12}.

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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)

• Integration and transaction costs related to the Navigators Group acquisition are not included in the expense ratio ^{p. 13}.
• Refer to footnote [3] on page 2 for more information about the change in deferred gain on retroactive reinsurance ^{p. 13}.

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
Underwriting Gain	$ 586	$ 502	$ 497	$ 130	$ 331	$ 228	$ 254	$ 279	$ 1,715	$ 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

• Refer to footnote [3] on page 2 for information about the change in deferred gain on retroactive reinsurance on the Navigators ADC ^{p. 14}.
• Integration costs include those related to Navigators Group ^{p. 14}.
• Footnote [3] primarily represents federal income tax expense (benefit) related to pre-tax items not included in core earnings ^{p. 14}.

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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

• The Hartford Insurance Group, Inc. Business Insurance Underwriting Ratios are presented on page 16 ^{p. 16}.

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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)

• Integration and transaction costs related to the acquisition of Navigators Group are not included in the expense ratio ^{p. 16}.

USD million	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	FY25	FY24
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
Adjustments to reconcile combined ratio to underlying combined ratio:	—	—	—	—	—	—	—	—	—	—
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
Adjustments to reconcile combined ratio to underlying combined ratio:	—	—	—	—	—	—	—	—	—	—
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
Adjustments to reconcile combined ratio to underlying combined ratio:	—	—	—	—	—	—	—	—	—	—
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

• U.S. business includes a small amount of business issued by U.S. insurance entities to U.S. policyholders with international-based exposures ^{p. 17}.
• International business represents Navigators Group business written in Lloyd's market or other international markets, including U.S.-based exposures ^{p. 17}.
• Metrics for Middle Market exclude loss sensitive and programs businesses, except for net new business premium ^{p. 17}.
• Footnote [3] excludes Global Re and is before ceded reinsurance ^{p. 17}.
• Footnote [4] excludes Global Re, offshore energy policies, credit and political risk insurance policies, political violence and terrorism policies, and any business where the managing agent of Lloyd's Syndicate 1221 delegates underwriting authority to coverholders and other third parties ^{p. 17}.

USD million	Three Months Ended								Year Ended
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 %

• Footnote [1] represents federal income tax expense (benefit) related to pre-tax items not included in core earnings ^{p. 18}.
• The Hartford Insurance Group, Inc. Personal Insurance Income Statements (Continued) are presented on page 19 ^{p. 19}.
• Prior accident year development included unfavorable (favorable) reserve development ^{p. 19}.

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

• Other reserve re-estimates, net include a favorable change in automobile physical damage reserves of $(8) for the three months ended December 31, 2025, and $(34) for the twelve months ended December 31, 2025 ^{p. 19}.
• Other reserve re-estimates, net also include a favorable change in automobile physical damage reserves of $(8) for the three months ended December 31, 2024, and $(32) for the twelve months ended December 31, 2024 ^{p. 19}.

	Three Months Ended Year									Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 2024	31	Dec 31 2025	Dec 31 2024
Automobile liability	$ (32) $	(33) $	(10) $	(12) $	(17) $	- $	-13	$	-	$ (87) $	-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	$ (56) $	(43) $	(41) $	(39) $	(53) $	(14) $	-34	$	-7	$ (179) $	-108

	Three Months Ended								Year
Underwriting Gain (Loss)	Dec 31 2025 $ 193	Sept 30 2025 107	Jun 30 2025 55	Mar 31 2025 (55) $	Dec 31 2024 129	Sept 30 2024 $ (22)	Jun 30 2024 $ (63)	Mar 31 2024 (13)	Dec 31 2025 $ 300	Dec 31 2024 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 (Continued) is presented on page 22 ^{p. 22}.

	Three Months Ended										Year Ended
—	Dec 31 2025	—	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 2024	30 Jun	30 2024	Mar 31 2024	Dec 31 2025	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. P&C Other Operations Income Statements are presented on page 23 ^{p. 23}.

	Three Months Ended									Year Ended
—	Dec 31 2025	Sept 2025	30	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	Dec 31 2025	Dec 31 2024
Statistical Premium Information (Year Over Year)	—	—	—	—	—	—	—	—	—	—	—
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	—	—

• Refer to footnote [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}.
• Refer to footnote [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}.
• Footnote [3] represents federal income tax expense (benefit) related to pre-tax items not included in core earnings (loss) ^{p. 23}.

	Three Months Ended								Year Ended
—	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
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)

• Footnote [1] represents federal income tax benefit related to pre-tax items not included in core earnings ^{p. 24}.

The Hartford Insurance Group, Inc. employee benefits supplemental data

	Three Months Ended								Year Ended
—	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
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 & Acosts, 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%	—	—

• Footnote [1] includes other group coverages such as retiree health insurance, critical illness, accident, and hospital indemnity coverages ^{p. 25}.
• Footnote [2] refers to takeover of open claim liabilities and other non-recurring premium amounts ^{p. 25}.

The Hartford Insurance Group, Inc. Hartford Funds income statements

	Three Months Ended								Year Ended
—	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
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%

• Federal income tax expense (benefit) [1] relates to before-tax items not included in core earnings ^{p. 26}.
• Annualized earnings [2] are divided by daily average assets under management ("AUM"), measured in basis points ("bps"), where one bps equals one hundredth of one percent ^{p. 26}.
• Net income ROE and core earnings ROE [3] are calculated by allocating a portion of debt, interest expense, preferred stock, and preferred stock dividends from Corporate to Hartford Funds ^{p. 26}.

	Three Months Ended								Year Ended
—	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
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 %	—	—

• Balanced, allocation, and alternative investment products [1] are included ^{p. 27}.

	Three Months Ended								Year Ended
—	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
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 $	19,268	$ 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

• Investment management fees and expenses [1] include those related to managing third-party assets ^{p. 28}.
• Benefits, losses, and loss adjustment expenses [2] include those for run-off structured settlement and terminal funding agreement liabilities ^{p. 28}.
• Federal income tax expense (benefit) [3] relates to before-tax items not included in core earnings ^{p. 28}.

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

• Income on short-term investments [1] is included ^{p. 29}.
• Other alternative investments [2] within Property & Casualty include an insurer-owned life insurance policy, primarily invested in private equity funds and fixed income ^{p. 29}.
• Changes in fair value [3] include those of certain equity fund investments and income from derivatives that qualify for hedge accounting and are used to hedge fixed maturities ^{p. 29}.
• Annualized net investment income [4] is divided by the monthly average invested assets at amortized cost, excluding derivatives book value ^{p. 29}.
• Annualized yield [5] represents the yield on fixed maturities and mortgage loans purchased during the respective period, excluding U.S. Treasury securities and cash equivalents ^{p. 29}.
• Annualized yield [6] represents the yield on fixed maturities and mortgage loans sold, matured, or redeemed (including calls and paydowns) during the respective period, excluding U.S. Treasury securities and cash equivalents ^{p. 29}.
• Certain short-term investments [7] are excluded ^{p. 29}.

	Three Months Ended								Year Ended
—	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 Investment Income (Loss)	—	—	—	—	—	—	—	—	—	—
Fixed maturities [1]	—	—	—	—	—	—	—	—	—	—
Taxable	$ 579	$ 574	$ 553	$ 538	$ 533	$ 533	$ 496	$ 483	$2,244	$2,045
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

• Footnotes [1] through [7] are explained on page 26 ^{p. 30}.

	Three Months Ended								Year Ended
—	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 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

• Footnotes [1] through [7] are explained on page 26 ^{p. 31}.

	Three Months Ended								Year Ended
—	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 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	Three Months Ended								Year Ended
—	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 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

• Amounts [1] are included in total net investment income by segment ^{p. 32}.

—	Three Months Ended									Year Ended
Net Investment Income from Limited Partnerships and Other Alternative Investments	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 2024	30	Mar 31 2024	Dec 31 2025	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

• Changes in fair value and trading gains and losses [1] for equity securities are included ^{p. 33}.
• Changes in value [2] include those of fair value option securities and non-qualifying derivatives (credit derivatives, interest rate derivatives for duration management, and equity derivatives) ^{p. 33}.
• Periodic net coupon settlements [2] on credit derivatives, included in core earnings, and transactional foreign currency revaluation are also included ^{p. 33}.
• Net periodic settlements [3] on credit derivatives are represented ^{p. 33}.

	Three Months Ended								Year Ended
—	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 Realized Gains (Losses)	—	—	—	—	—	—	—	—	—	—
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)

• Amount [1] represents the value at which assets are presented in the Consolidating Balance Sheets (page 4) ^{p. 34}.
• Fixed maturities [2] at fair value using the fair value option are not included ^{p. 34}.

	Dec 31 2025		Sept 30 2025		Jun 30 2025		Mar 31 2025		Dec 31 2024
—	Amount [1]	Percent	Amount	Percent	Amount	Percent	Amount	Percent	Amount [1]	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 %
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 %

• Corporate bonds, municipal bonds, bonds issued by foreign government/government agencies, and equity securities [1] (excluding mutual funds) are included ^{p. 35}.

Basis of presentation and definitions

• All amounts are in millions, except for per share and ratio information, unless otherwise stated ^{p. 36}.
• Amounts presented in the document have been rounded for presentation purposes ^{p. 36}.

"The Hartford Insurance Group, Inc. (the "Company", "we", or "our") currently conducts business principally in five reportable segments: Business Insurance, Personal Insurance, Property & Casualty Other Operations ("P&C Other Operations"), Employee Benefits and Hartford Funds, as well as a Corporate category." ^{p. 36}

• P&C businesses consist of three reportable segments: Business Insurance, Personal Insurance, and P&C Other Operations ^{p. 36}.
• 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 U.S. and internationally ^{p. 36}.
• Business Insurance products are generally written for small businesses, middle market companies, and national and multi-national accounts ^{p. 36}.
• Business Insurance products are largely distributed through retail agents and brokers, wholesale agents, and global and specialty insurance and reinsurance brokers ^{p. 36}.
• Global specialty provides customized insurance products, including reinsurance ^{p. 36}.
• Personal Insurance provides standard automobile, homeowners, and personal umbrella coverages to individuals across the U.S. ^{p. 36}.
• Personal Insurance includes a special program designed exclusively for members of AARP ^{p. 36}.
• P&C Other Operations includes certain property and casualty operations managed by the Company that have discontinued writing new business ^{p. 36}.
• P&C Other Operations includes substantially all of the Company's asbestos and environmental exposures ^{p. 36}.
• Employee Benefits provides employers and associations with group life, accident, and disability coverage, along with other products and services, including voluntary benefits and group retiree health ^{p. 36}.
• Hartford Funds offers investment products for retail and retirement accounts ^{p. 36}.
• Hartford Funds provides investment management, distribution, and administrative services such as product design, implementation, and oversight ^{p. 36}.
• Hartford Funds also manages a portion of the mutual funds that support third-party life and annuity separate accounts ^{p. 36}.
• The Corporate category includes reserves for run-off structured settlement and terminal funding agreement liabilities ^{p. 36}.
• The Corporate category includes restructuring costs, capital raising activities (equity financing, debt financing, and related interest expense), and transaction expenses for acquisitions ^{p. 36}.
• The Corporate category includes certain M&A costs, purchase accounting adjustments related to goodwill, and other expenses not allocated to reportable segments ^{p. 36}.
• The Corporate category also includes investment management fees and expenses related to managing third-party assets ^{p. 36}.
• Operating and statistical measures for P&C Business Insurance and Personal Insurance are incorporated to provide supplemental data on current business trends ^{p. 36}.
• These measures include net new business premium, gross new business premium, renewal written price increases, policy count retention, effective policy count retention, premium retention, and policies in-force ^{p. 36}.
• Net new business premium represents premiums charged, after ceded reinsurance, for policies issued to new customers ^{p. 36}.
• Net new business premium plus renewal written premium equals total written premium ^{p. 36}.
• Gross new business premium represents premiums charged, before ceded reinsurance, for policies issued to new customers ^{p. 36}.
• Gross new business premium plus gross renewal written premium less ceded reinsurance equals total written premium ^{p. 36}.
• For global specialty, gross new business premium is used by management as it is more indicative of new business growth trends, partly because global specialty includes the Global Re assumed reinsurance book of business ^{p. 36}.
• Renewal written price increases for Business Insurance represent the combined effect of rate changes and individual risk pricing decisions per unit of exposure since the prior year on renewed policies ^{p. 36}.
• Renewal written price increases for Business Insurance include the amount of insurance, which is a component of change in exposure and offsets increases in loss cost trends due to inflation ^{p. 36}.
• Renewal written price increases for Personal Insurance represent the total change in premium per policy since the prior year on renewed policies ^{p. 36}.
• Renewal written price increases for Personal Insurance include the combined effect of rate changes, amount of insurance, and other changes in exposure ^{p. 36}.
• For Personal Insurance, other changes in exposure include changes in the number of drivers, vehicles, and incidents, as well as changes in customer policy elections like deductibles and limits ^{p. 36}.
• For small business, policy count retention represents the number of renewal policies issued in the current period divided by new and renewal policies issued in the prior period ^{p. 36}.
• For Personal Insurance, effective policy count retention represents the number of policies expected to renew in the current period (based on contract effective dates) divided by new and renewal policies effective in the prior period ^{p. 36}.
• Premium retention for middle & large business represents the ratio of prior period premiums successfully renewed divided by premiums associated with policies available for renewal in the current period ^{p. 36}.
• Premium retention excludes premium amounts from annual audits, renewal written price increases, and changes in exposure, including the amount of insurance ^{p. 36}.
• Premium Retention statistics are subject to change due to factors like subsequent cancellations and non-renewals ^{p. 36}.
• Policies in-force represents the number of policies with coverage in effect at period-end ^{p. 36}.
• Policies in-force is a growth measure for Personal Insurance and small business within Business Insurance ^{p. 36}.
• Policies in-force is affected by both new business growth and policy count retention ^{p. 36}.
• The Company uses underwriting ratios as performance measures, similar to others in the property and casualty insurance industry ^{p. 36}.
• The loss and loss adjustment expense ratio is the ratio of losses and loss adjustment expenses to earned premiums ^{p. 36}.
• The expense ratio is the ratio of underwriting expenses less fee income to earned premiums ^{p. 36}.
• Underwriting expenses in the expense ratio include amortization of deferred policy acquisition costs and insurance operating costs and expenses, including certain centralized services and bad debt expense ^{p. 36}.
• Underwriting expenses in the expense ratio exclude integration and other non-recurring M&A costs ^{p. 36}.
• The policyholder dividend ratio is the ratio of policyholder dividends to earned premiums ^{p. 36}.
• The combined ratio is the sum of the loss and loss adjustment expense ratio, the expense ratio, and the policyholder dividend ratio ^{p. 36}.
• These ratios are relative measurements describing the related cost of losses, expenses, and policyholder dividends for every $100 of earned premiums ^{p. 36}.
• A combined ratio below 100 indicates underwriting profit; a combined ratio above 100 indicates underwriting losses ^{p. 36}.
• The current accident year catastrophe ratio (a component of the loss and loss adjustment expense ratio) represents the ratio of catastrophe losses and loss adjustment expenses incurred in the current accident year to earned premiums ^{p. 36}.
• The prior accident year loss and loss adjustment expense ratio (a component of the loss and loss adjustment expense ratio) represents the increase (decrease) in estimated cost of settling catastrophe and non-catastrophe claims incurred in prior accident years, as recorded in the current calendar year, divided by earned premiums ^{p. 36}.

The Hartford Insurance Group, Inc. appendix

• A catastrophe is a severe loss from natural or man-made events, including fire, earthquake, windstorm, explosion, terrorist attack, civil unrest, and similar events ^{p. 37}.
• Catastrophes have unique characteristics and are unpredictable in timing or loss amount ^{p. 37}.
• Catastrophe losses are not included in earnings or loss and loss adjustment expense reserves prior to occurrence ^{p. 37}.
• The Company believes discussing the effect of catastrophes is meaningful for investors to understand periodic earnings variability ^{p. 37}.
• For U.S. events, a catastrophe is defined as an event causing $25m or more in industry insured property losses and affecting a significant number of property and casualty policyholders and insurers, as defined by the Property Claim Service office of Verisk ^{p. 37}.
• For international events, the Company's approach is similar, partly informed by how Lloyd's of London defines major losses ^{p. 37}.
• The Company uses loss and expense ratios as measures of the Employee Benefits segment's performance, similar to others in the insurance industry ^{p. 37}.
• The loss ratio for Employee Benefits is the ratio of benefits, losses, and loss adjustment expenses (excluding those related to buyout premiums) to premiums and other considerations (excluding buyout premiums) ^{p. 37}.
• The expense ratio for Employee Benefits is the ratio of insurance operating costs and other expenses (excluding integration and other non-recurring M&A costs) to premiums and other considerations (excluding buyout premiums) ^{p. 37}.
• Buyout premiums represent the takeover of open claim liabilities and other non-recurring premium amounts ^{p. 37}.
• The Hartford Funds segment provides supplemental data on sales, redemptions, net flows, and account value to indicate current trends ^{p. 37}.

Discussion of non-GAAP financial measures

• The Company uses non-GAAP financial measures in this Investor Financial Supplement to assist investors in analyzing operating performance ^{p. 37}.
• Investors should be careful when comparing the Company's non-GAAP financial measures to those of other companies due to potential calculation differences ^{p. 37}.
• Non-GAAP measures are indicated with an asterisk (*) the first time they appear ^{p. 37}.
• Core earnings* is a non-GAAP measure used by The Hartford as an important measure of operating performance ^{p. 37}.
• The Hartford believes core earnings provides investors with a valuable measure of ongoing business performance by revealing trends obscured by certain items ^{p. 37}.
• The following items are excluded from core earnings:
  • Certain realized gains and losses: primarily driven by investment decisions and external economic developments, unrelated to insurance and underwriting aspects ^{p. 37}.
  • Core earnings excludes the effect of all realized gains and losses that are highly variable based on capital market conditions ^{p. 37}.
  • Core earnings includes net realized gains and losses, such as net periodic settlements on credit derivatives, that are integrally related to insurance operations and directly offset an item in the income statement (e.g., net investment income) ^{p. 37}.
  • Restructuring and other costs: not a recurring operating expense ^{p. 37}.
  • Loss on extinguishment of debt: largely make-whole payments or tender premiums for early debt repayment, not a recurring operating expense ^{p. 37}.
  • Gains and losses on reinsurance transactions: such as those from business sales or loss reserve reinsurance, not a recurring operating expense ^{p. 37}.
  • Integration and other non-recurring M&A costs: including transaction costs for acquired businesses, incurred over a short period and not an ongoing operating expense ^{p. 37}.
  • Change in loss reserves upon acquisition of a business: excluded to maintain comparability of results before and after acquisition ^{p. 37}.
  • Deferred gain resulting from retroactive reinsurance and subsequent changes: retroactive reinsurance agreements economically transfer risk, and excluding the deferred gain provides greater insight into business economics ^{p. 37}.
  • Change in valuation allowance on deferred taxes related to non-core components of before tax income: excluded because they relate to non-core components like tax attributes (e.g., capital loss carryforwards) ^{p. 37}.
  • Results of discontinued operations: excluded for businesses sold or held for sale to maintain comparability of ongoing business results ^{p. 37}.
• Preferred stock dividends declared are included in core earnings, despite being excluded from net income available to common stockholders ^{p. 37}.
• Preferred stock dividends are considered a cost of financing, similar to interest expense on debt, and are expected to be a recurring expense as long as the preferred stock is outstanding ^{p. 37}.
• Net income (loss) and net income (loss) available to common stockholders are the most directly comparable U.S. GAAP measures to core earnings ^{p. 37}.
• Core earnings should not be considered a substitute for net income (loss) or net income (loss) available to common stockholders and does not reflect overall Company profitability ^{p. 37}.
• The Hartford believes it is useful for investors to evaluate net income (loss), net income (loss) available to common stockholders, and core earnings when reviewing performance ^{p. 37}.
• A reconciliation of net income (loss) available to common stockholders to core earnings is on page 2 ^{p. 37}.

Basic earnings per share

—	Cost or Amortized Cost	Fair Value	Percent of Total Invested Assets
Top Ten Corporate Fixed Maturity, AFS and Equity Exposures by Sector	—	—	—
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 [1]	—	—	—
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 %

• Core earnings per share* is a non-GAAP per share measure calculated using core earnings instead of U.S. GAAP net income ^{p. 38}.
• The Company believes core earnings per share provides a valuable measure of operating performance for the same reasons as core earnings ^{p. 38}.
• Net income (loss) available to common stockholders per share is the most directly comparable U.S. GAAP measure ^{p. 38}.
• Core earnings per share should not be considered a substitute for net income (loss) available to common stockholders per share and does not reflect overall Company profitability ^{p. 38}.
• The Company believes it is useful for investors to evaluate both net income (loss) available to common stockholders per share and core earnings per share when reviewing performance ^{p. 38}.
• A reconciliation of net income (loss) available to common stockholders per share to core earnings per share is provided below ^{p. 38}.
• Core earnings per diluted share* is a non-GAAP per share measure calculated using core earnings instead of U.S. GAAP net income ^{p. 38}.
• The Company believes core earnings per diluted share provides a valuable measure of operating performance for the same reasons as core earnings ^{p. 38}.
• Net income (loss) available to common stockholders per diluted common share is the most directly comparable U.S. GAAP measure ^{p. 38}.
• Core earnings per diluted share should not be considered a substitute for net income (loss) available to common stockholders per diluted common share and does not reflect overall Company profitability ^{p. 38}.
• The Company believes it is useful for investors to evaluate both net income (loss) available to common stockholders per diluted common share and core earnings per diluted share when reviewing performance ^{p. 38}.
• A reconciliation of net income available to common stockholders per diluted share to core earnings per diluted share is provided below ^{p. 38}.

Diluted earnings per share

	Three Months Ended								Year Ended
—	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
Adjustments made to reconcile net income available to common stockholders per share to core earnings per share:	—	—	—	—	—	—	—	—	—	—
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

• Book value per diluted share (excluding AOCI) is a non-GAAP measure calculated by dividing common stockholders' equity (excluding AOCI, after tax) by common shares outstanding and dilutive potential common shares ^{p. 38}.
• This measure helps investors analyze the Company's net worth primarily attributable to business operations ^{p. 38}.
• Excluding AOCI from the numerator is useful as it removes the effect of items that fluctuate significantly due to interest rate changes ^{p. 38}.
• Book value per diluted share is the most directly comparable U.S. GAAP measure ^{p. 38}.
• Reconciliations for book value per common share and book value per diluted share (both excluding AOCI) are on page 1 ^{p. 38}.
• Core earnings ROE is a non-GAAP measure calculated by dividing core earnings for the prior four fiscal quarters by the average common stockholders' equity, excluding AOCI ^{p. 39}.
• Net income ROE is the most directly comparable U.S. GAAP measure for Core earnings ROE ^{p. 39}.
• Excluding AOCI in core earnings ROE provides a measure of how effectively the Company invests the portion of its net worth primarily attributable to business operations ^{p. 39}.
• The Company provides return on equity measures based on non-GAAP core earnings for reasons outlined in the core earnings definition ^{p. 39}.
• A reconciliation of Net income (loss) ROE to Core earnings ROE is provided ^{p. 39}.

2 ──

• Common stockholders' equity, excluding AOCI is a non-GAAP measure calculated as total stockholders' equity less preferred stock and AOCI ^{p. 39}.
• Total stockholders' equity is the most directly comparable U.S. GAAP measure ^{p. 39}.
• This measure helps investors analyze the Company's net worth primarily attributable to business operations ^{p. 39}.
• Excluding AOCI is useful to investors because it removes the effect of items that can fluctuate significantly, mainly due to interest rate changes ^{p. 39}.
• A reconciliation of common stockholders' equity, excluding AOCI, to total stockholders' equity is on page 5 ^{p. 39}.
• Total capitalization, excluding AOCI, net of tax is a non-GAAP measure calculated as total debt plus total stockholders' equity, excluding AOCI impacts ^{p. 39}.
• Total capitalization, including AOCI, net of tax is the most directly comparable U.S. GAAP measure ^{p. 39}.
• The total debt to capitalization ratio excluding AOCI is calculated by dividing total debt by total capitalization excluding AOCI, net of tax ^{p. 39}.
• This measure helps investors analyze the Company's financial leverage ^{p. 39}.
• Excluding AOCI is useful to investors as it removes the effect of items that can fluctuate significantly, primarily due to interest rate changes ^{p. 39}.
• Reconciliations of capitalization metrics are on page 5 ^{p. 39}.
• Underwriting gain (loss) is a non-GAAP, before-tax measure representing earned premiums less incurred losses, loss adjustment expenses, and underwriting expenses ^{p. 40}.
• Net income (loss) is the most directly comparable U.S. GAAP measure for underwriting gain (loss) ^{p. 40}.
• The Hartford's management primarily evaluates the profitability of Business and Personal Insurance segments based on underwriting gain or loss ^{p. 40}.
• Underwriting gain (loss) is significantly influenced by earned premium growth and pricing adequacy ^{p. 40}.
• Underwriting profitability is also influenced by underwriting discipline, risk selection, diversification, claims management, reinsurance use, and expense management ^{p. 40}.
• The Hartford believes underwriting gain (loss) provides investors with a valuable before-tax measure of profitability from underwriting activities, which are managed separately from investing activities ^{p. 40}.
• Reconciliations of net income (loss) to underwriting gain (loss) for the Company's P&C businesses are provided ^{p. 40}.
• Underlying underwriting gain (loss) is a non-GAAP measure of underwriting profitability, representing underwriting gain (loss) before current accident year catastrophes, PYD, and current accident year change in loss reserves upon acquisition of a business ^{p. 40}.
• Net income (loss) is the most directly comparable U.S. GAAP measure for underlying underwriting gain (loss) ^{p. 40}.
• The Company believes underlying underwriting gain (loss) is important for understanding periodic earnings because the volatile nature of catastrophes and prior accident year reserve development can obscure underwriting trends ^{p. 40}.
• Changes to loss reserves upon acquisition of a business are also excluded to allow for comparable results in periods before and after acquisition, which is valuable for assessing financial performance ^{p. 40}.
• Reconciliations of net income (loss) to underlying underwriting gain (loss) for the Company's P&C businesses are provided ^{p. 40}.

	Three Months Ended									Year Ended
—	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
Adjustments made to reconcile net income available to common stockholders per diluted share to core earnings per diluted share:	—	—	—	—	—	—	—	—	—	—	—
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 & Acosts, 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

—	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%

Business insurance

	Three Months Ended								Year Ended
—	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	$ 968	$ 861	$ 800	$ 495	$ 706	$ 569	$ 540	$ 615	$ 3,124	$ 2,430
Adjustments to reconcile net income to underlying underwriting gain:	—	—	—	—	—	—	—	—	—	—
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

Personal insurance

	Three Months Ended								Year Ended
—	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	$ 897	$ 710	$ 696	$ 477	$ 708	$ 528	$ 540	$ 573	$ 2,780	$ 2,349
Adjustments to reconcile net income to underlying underwriting gain:	—	—	—	—	—	—	—	—	—	—
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

P&C other operations

	Three Months Ended								Year Ended
—	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
Adjustments to reconcile net income (loss) to underlying underwriting gain (loss):	—	—	—	—	—	—	—	—	—	—
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

• Underlying combined ratio is a non-GAAP financial measure representing the combined ratio before catastrophes, prior accident year development, and current accident year change in loss reserves upon acquisition of a business ^{p. 41}.
• Combined ratio is the most directly comparable U.S. GAAP measure ^{p. 41}.
• This ratio is considered an important measure of profitability trend as it removes the impact of volatile and unpredictable catastrophe losses and prior accident year loss and loss adjustment expense reserve development ^{p. 41}.
• Changes to loss reserves upon acquisition of a business are excluded to ensure comparability of results before and after an acquisition, which is valuable for investors ^{p. 41}.
• Reconciliations of the combined ratio to the underlying combined ratio for Property & Casualty, Business Insurance, and Personal Insurance are on pages 10, 13, and 17, respectively ^{p. 41}.
• Underlying loss and loss adjustment expense ratio is a non-GAAP financial measure representing the cost of non-catastrophe loss and loss adjustment expenses incurred in the current accident year divided by earned premiums ^{p. 42}.
• The loss and loss adjustment expense ratio is the most directly comparable U.S. GAAP measure ^{p. 42}.
• Management believes the underlying loss and loss adjustment expense ratio is useful to investors as it removes the impact of volatile and unpredictable catastrophe losses and prior accident year development ("PYD") ^{p. 42}.
• A reconciliation of the loss and loss adjustment expense ratio to the underlying loss and loss adjustment expense ratio for Property & Casualty, Business Insurance, and Personal Insurance is provided ^{p. 42}.

	Three Months Ended								Year Ended
—	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)
Adjustments to reconcile net income (loss) to underlying underwriting loss:	—	—	—	—	—	—	—	—	—	—
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	—	—	7	196	219
Underlying underwriting loss	$ (2) $	(2) $	(2) $	(2) $	(2) $	(3) $	(2) $	(2) $	$ (8) $	(9)

	Three Months Ended								Year Ended
—	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
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

	Three Months Ended								Year Ended
—	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
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

• Core earnings margin is a non-GAAP measure used by The Hartford to evaluate the Employee Benefits segment's operating performance ^{p. 43}.
• It is calculated by dividing core earnings by revenues, excluding buyouts and realized gains (losses) ^{p. 43}.
• Net income margin, calculated by dividing net income by revenues, is the most directly comparable U.S. GAAP measure ^{p. 43}.
• The Company believes core earnings margin provides a valuable measure of performance for Employee Benefits by revealing business trends that may be obscured by buyouts, realized gains (losses), and other items excluded from core earnings ^{p. 43}.
• Core earnings margin should not be considered a substitute for net income margin and does not reflect the overall profitability of Employee Benefits ^{p. 43}.
• Investors should evaluate both core earnings margin and net income margin when reviewing performance ^{p. 43}.
• A reconciliation of net income margin to core earnings margin is provided ^{p. 43}.

	Three Months Ended								Year Ended
—	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
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

• Return on Assets ("ROA"), Core Earnings is a non-GAAP financial measure used to evaluate the Hartford Funds segment's operating performance ^{p. 43}.
• ROA, core earnings is calculated by dividing annualized core earnings by a daily average AUM ^{p. 43}.
• ROA is the most directly comparable U.S. GAAP measure ^{p. 43}.
• The Company believes ROA, core earnings, provides a valuable measure of the Hartford Funds segment's performance by revealing business trends that may be obscured by items excluded from core earnings ^{p. 43}.
• ROA, core earnings, should not be considered a substitute for ROA and does not reflect the overall profitability of the Hartford Funds business ^{p. 43}.
• Investors should evaluate both ROA and ROA, core earnings when reviewing the Hartford Funds segment performance ^{p. 43}.
• A reconciliation of ROA to ROA, core earnings is provided ^{p. 43}.

	Three Months Ended								Year Ended
—	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 margin	7.2 %	8.1 %	8.5 %	7.4 %	7.1 %	8.8 %	9.7 %	6.2 %	7.8 %	7.9 %
Adjustments to reconcile net income margin to core earnings margin:	—	—	—	—	—	—	—	—	—	—
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 %

• Net investment income excluding limited partnerships and other alternative investments is a non-GAAP measure representing net investment income (on a Consolidated, P&C, or Employee Benefits level) earned from invested assets, excluding income from limited partnerships and other alternative investments ^{p. 44}.
• The Company believes this measure provides an important trend in investment earnings by excluding the volatility from limited partnerships and other alternative investments ^{p. 44}.
• Net investment income is the most directly comparable U.S. GAAP measure ^{p. 44}.
• A reconciliation of net investment income to net investment income, excluding limited partnerships and other alternative investments, is provided ^{p. 44}.

Consolidated

	Three Months Ended								Year Ended
—	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
Return on Assets ("ROA")	15.4	15.4	15.6	12.1	13.8	15.7	13.1	13.7	14.6	14.1
Adjustments to reconcile ROA to ROA, core earnings:	—	—	—	—	—	—	—	—	—	—
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

• Property & Casualty ^{p. 44}

	Three Months Ended								Year Ended
—	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
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

Employee benefits

	Three Months Ended								Year Ended
—	Dec 31 2025	Sept 30 2025	Jun 30 2025	Mar 31 2025	Dec 31 2024	Sept 30 2024	Jun 30 2024	Mar 31 2024	2025	Dec 31	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

• 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) the monthly average invested assets at amortized cost, excluding derivatives book value and limited partnerships and other alternative investments ^{p. 45}.
• The Company believes this measure provides an important trend in investment earnings by excluding the impact of volatility from limited partnerships and other alternative investments ^{p. 45}.
• Annualized investment yield is the most directly comparable U.S. GAAP measure ^{p. 45}.
• A reconciliation of annualized investment yield to annualized investment yield, excluding limited partnerships and other alternative investments, is provided ^{p. 45}.

	Three Months Ended								Year Ended
—	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
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

• Property & Casualty ^{p. 45}

	Three Months Ended								Year Ended
—	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
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%

	Three Months Ended								Year Ended
—	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
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%

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
• DAC: deferred policy acquisition costs
• ETF: Exchange-Traded Funds
• GAAP: generally accepted accounting principles
• HHI: Hartford Holdings, Inc.
• HIG: Hartford Financial Services 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