HARTFORD FINANCIAL SERVICES GROUP INC

SEGMENT OPERATING SUMMARIES

|COMMERCIAL LINES - RESULTS OF OPERATIONS

[1]For additional information on current accident year catastrophes and prior accident year development, see MD&A - Critical Accounting Estimates, Property and Casualty Insurance Product Reserves Development, Net of Reinsurance and Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

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

[4]For discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

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Premium Measures

[1]Except for net new business premium, metrics for middle market exclude loss sensitive and programs businesses.

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

[3]Excludes Global Re, offshore energy policies, credit and political risk insurance policies, political violence and terrorism ("PV&T") policies, and any business under which the managing agent of our Lloyd's Syndicate delegates underwriting authority to coverholders and other third parties.

Underwriting Ratios

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Net incomefor the three and six months ended June 30, 2024 increased primarily due to a higher underwriting gain, higher net investment income, and, for the six month period, lower net realized losses. For further discussion of investment results, see MD&A - Investment Results.

Underwriting Gain

Underwriting gain for the three and six months ended June 30, 2024 increased due to the effect of earned premium growth, higher favorable prior accident year development, including $37 and $61 of a benefit for amortization of a deferred gain on the Navigators ADC for the three and six month periods, respectively, and a lower CAY loss and LAE ratio before catastrophes, partially offset by higher current accident year catastrophe losses.

Expense ratio for the three and six months ended June 30, 2024 decreased driven by the impact of higher earned premium, partially offset by higher underwriting staffing costs, including higher incentive compensation, and increased commissions.

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[1]Other earned premiums of $13 and $14, for the three months ended June 30, 2023, and 2024, respectively and $26 and $29 , for the six months ended June 30, 2023, and 2024, respectively.

Written Premiums

[1]Other written premiums of $13 and $14 for the three months ended June 30, 2023, and 2024, respectively and $26 and $28 for the six months ended June 30, 2023 and 2024, respectively.

Earned premiums for the three and six months ended June 30, 2024 increased due to written premium increases over the prior twelve months, including the effect of higher insured exposures, principally in workers’ compensation and property lines.

Written premiums for the three and six months ended June 30, 2024 increased driven by growth across small commercial, middle & large commercial and global specialty.

•Small commercial written premium increased driven by double-digit new business growth, renewal written price increases in all lines and higher insured exposures. Written premium grew in nearly all lines of business, including package business, excess and surplus and automobile.

•Middle & large commercial written premium increased driven by double-digit new business growth, renewal written price increases in all lines and higher insured exposures. Written premium grew in nearly all lines across industry verticals, specialty markets, general industries and large property.

•Global specialty written premium increased driven by written price increases across almost all lines as well as an increase in gross new business, primarily in wholesale. Written premiums grew across most U.S. lines, global reinsurance and international lines.

Renewal written price increases were recognized in nearly all lines in both the three and six month periods, with price increases across most lines other than directors and officers ("D&O").

•In small commercial, renewal written price increases were higher in 2024, with double-digit price increases in package business, automobile and excess and surplus lines. Workers' compensation pricing was slightly positive, but moderated from 2023 due to lower net rates and lower wage inflation.

•In middle market, the Company recognized high single-digit to mid-teens price increases in most lines other than workers’ compensation, which was positive due to the effect of wage inflation offset by lower net rates.

•In global specialty, U.S. price increases were higher than prior year levels and we achieved mid single-digit renewal written price increases overall, with high single to low double-digit increases in marine, casualty and auto lines. D&O pricing continues to be negative, but to a lesser extent than the prior year.

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Current Accident Year Loss and LAE Ratio before Catastrophes

Current accident year loss and LAE ratio before catastrophes for the three and six months ended June 30, 2024 improved primarily due to lower net non-catastrophe property losses.

Catastrophes and Unfavorable (Favorable) Prior Accident Year Development

Current accident year catastrophe losses for the three and six months ended June 30, 2024 included losses from tornado, wind and hail events across several regions, but concentrated in the South and Midwest regions, and for the six month period, winter storms primarily in the Northeast, Pacific and South regions.

Current accident year catastrophe losses for the three and six months ended June 30, 2023 included losses from tornado, wind and hail events across several regions of the United States and, for the six month period, winter storms primarily on the East and West coasts.

Prior accident year development was net favorable for the three and six months ended June 30, 2024 and included reserve decreases for workers' compensation, catastrophes and bond, partially offset by reserve increases for general liability, assumed reinsurance and automobile liability. Also included are benefits of $37 and $61 related to amortization of the Navigators ADC deferred gain for the three and six month periods, respectively. For additional information regarding the ADC reinsurance agreement, refer to Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

Prior accident year development was net favorable for the three and six months ended June 30, 2023 and included reserve decreases for workers' compensation and catastrophes, partially offset by reserve increases for general liability, assumed reinsurance and bond.