HARTFORD FINANCIAL SERVICES GROUP INC

REPORTABLE SEGMENT AND CORPORATE 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 ("CPRI") 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 months ended September 30, 2024 increased primarily due to higher net investment income and lower net realized losses, partially offset by a lower underwriting gain. Net income for the nine month period increased primarily due to a higher underwriting gain, higher net investment income and lower net realized losses. For further discussion of investment results, see MD&A - Investment Results.

Underwriting Gain

Underwriting gain for the three months ended September 30, 2024 decreased due to higher CAY catastrophe losses, a higher CAY loss and LAE ratio before catastrophes and less favorable prior accident year development, including $26 of a benefit for amortization of a deferred gain on the Navigators ADC in the current year period, partially offset by the effect of earned premium growth. Underwriting gain for the nine month period increased due to the effect of earned premium growth and higher favorable prior accident year development, including $87 of a benefit for amortization of a deferred gain on the Navigators ADC in the current year period, partially offset by higher CAY catastrophe losses.

Expense ratio for the three months ended September 30, 2024 increased driven byhigher staffing costs, including higher incentive compensation and benefits costs, partially offset by the impact of higher earned premium. Expense ratio for the nine month period was flat as the impact of higher earned premium was offset by higher staffing costs, including higher incentive compensation and benefits costs.

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[1]Other earned premiums of $14 and $14, for the three months ended September 30, 2023, and 2024, respectively and $40 and $43 , for the nine months ended September 30, 2023, and 2024, respectively.

Written Premiums

[1]Other written premiums of $14 and $14 for the three months ended September 30, 2023, and 2024, respectively and $40 and $42 for the nine months ended September 30, 2023 and 2024, respectively.

Earned premiums for the three and nine months ended September 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 nine months ended September 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 casualty lines. 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 nine 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 accelerating year to date double-digit price increases in package business and automobile and moderating double-digit price increases in excess and surplus lines. Workers' compensation pricing year to date was slightly positive and consistent with 2023.

•In middle market, renewal written price increases were generally flat to 2023, with year to date high single-digit to low double-digit price increases in most lines other than workers’ compensation, which was slightly positive. Property pricing has moderated from elevated levels in 2023 while automobile pricing has accelerated.

•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 nine months ended September 30, 2024 deteriorated primarily due to a higher general liability loss ratio, partially offset by lower net non-catastrophe property losses.

Catastrophes and Unfavorable (Favorable) Prior Accident Year Development

Current accident year catastrophe losses for the three months ended September 30, 2024 included losses from hurricanes, including a loss of $55 from Hurricane Helene, and tropical storms primarily in the Southeast and South regions and, to a lesser extent, tornado, wind and hail events primarily in the Midwest and Northeast regions.

Current accident year catastrophe losses for the nine month period included losses from tornado, wind and hail events across several regions of the United States, hurricanes and tropical storms primarily in the Southeast and South regions and, to a lesser extent, winter storms mainly in the Pacific, Northeast and South regions.

Current accident year catastrophe losses for the three months ended September 30, 2023 included losses from tornado, wind and hail events across several regions of the United States, and to a lesser extent, losses from hurricanes and tropical storms. Current accident year catastrophe losses for the nine months ended September 30, 2023 included losses from tornado, wind and hail events across several regions of the United States, and losses from winter storms along the East and West coasts.

Prior accident year development was net favorable for the three and nine months ended September 30, 2024 and included reserve decreases for workers' compensation and, for the nine month period, catastrophes and bond, partially offset by reserve increases for general liability, automobile liability and, for the nine month period, assumed reinsurance. Also included are benefits of $26 and $87 related to amortization of the Navigators ADC deferred gain for the three and nine 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 nine months ended September 30, 2023 and included reserve decreases for workers' compensation and package business, partially offset by reserve increases for general liability and assumed reinsurance. In addition, the nine month period included a reserve decrease for catastrophes.