HARTFORD INSURANCE GROUP INC
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Corporate
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| Table of Contents | Index to MD&A |
|---|
|CORPORATE - RESULTS OF OPERATIONS
| 2024 | 2023 | 2022 | Increase (Decrease) From 2023 to 2024 | Increase (Decrease) From 2022 to 2023 | |
|---|---|---|---|---|---|
| Fee income [1] | $40 | $39 | $49 | 3% | (20%) |
| Net investment income [2] | 63 | 47 | 26 | 34% | 81% |
| Net realized gains (losses) [2] | 42 | 26 | (45) | 62% | NM |
| Other revenue (loss) | 2 | 2 | 1 | —% | 100% |
| Total revenues | 147 | 114 | 31 | 29% | NM |
| Benefits, losses and loss adjustment expenses [3] | 8 | 7 | 8 | 14% | (13%) |
| Insurance operating costs and other expenses [1] | 54 | 68 | 61 | (21%) | 11% |
| Interest expense [4] | 199 | 199 | 213 | —% | (7%) |
| Restructuring and other costs | 2 | 6 | 13 | (67%) | (54%) |
| Total benefits, losses and expenses | 263 | 280 | 295 | (6%) | (5%) |
| Loss before income taxes | (116) | (166) | (264) | 30% | 37% |
| Income tax benefit [5] | (44) | (45) | (69) | 2% | 35% |
| Net loss | (72) | (121) | (195) | 40% | 38% |
| Preferred stock dividends | 21 | 21 | 21 | —% | —% |
| Net loss available to common stockholders | $(93) | $(142) | $(216) | 35% | 34% |
[1]Includes investment management fees and expenses related to managing third-party business.
[3]Includes benefits expense on life and annuity business previously underwritten by the Company.
[4]For discussion of debt, see Note 13 - Debt of Notes to Consolidated Financial Statements.
[5]For discussion of income taxes, see Note 16 - Income Taxes of Notes to Consolidated Financial Statements.
Net loss available to common stockholders
Net loss available to common stockholders for the year ended December 31, 2024 decreased primarily due to an increase in net realized gains, higher net investment income, a $14, before tax, capital-based state tax expense covering several years in the 2023 period, and lower restructuring costs.
Interest Expense
Interest expense remained flat for the year ended December 31, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.