HARTFORD INSURANCE GROUP, INC.

Previous wording

[1]For the three months ended March 31, 2025 and 2024,the Company recorded amortization of the deferred gain related to the Navigators adverse development cover ("Navigators ADC") of $32 and$24, 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.

Current wording

[1]The Company recorded amortization of the deferred gain related to the Navigators adverse development cover ("Navigators ADC") of $24 and $56 for the three and six months ended June 30, 2025 and $37 and $61 for the three and six months ended June 30, 2024, 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.

Previous wording

Expense Ratio-For Business Insurance and Personal Insurance is the ratio of underwriting expenses less fee income, to earned premiums. Underwriting expenses include the

Current wording

Expense Ratio-For Business Insurance and Personal Insurance is the ratio of underwriting expenses less fee income,

Previous wording

amortization of deferred policy acquisition costs ("DAC"), amortization of other intangible assets and insurance operating costs and other expenses, including certain centralized services costs and bad debt expense. DAC includes commissions, taxes, licenses and fees and other incremental direct underwriting expenses and are amortized over the policy term.

Current wording

to earned premiums. Underwriting expenses include the amortization of deferred policy acquisition costs ("DAC"), amortization of other intangible assets and insurance operating costs and other expenses, including certain centralized services costs and bad debt expense. DAC includes commissions, taxes, licenses and fees and other incremental direct underwriting expenses and are amortized over the policy term.

Previous wording

Loss and Loss Adjustment Expense Ratio-A measure of the cost of claims incurred in the calendar year divided by earned premium and includes losses and loss adjustment expenses incurred for both the current and prior accident years. Among other factors, the loss and loss adjustment expense ratio needed for the Company to achieve its targeted return on equity ("ROE") fluctuates from year to year based on changes in the expected investment yield over the claim settlement period, the timing of expected claim settlements and the targeted returns set by management based on the competitive environment.

Current wording

Loss and Loss Adjustment Expense Ratio-A measure of the cost of claims incurred in the calendar year divided by earned premium and includes losses and loss adjustment expenses incurred for both the current and prior accident years. Among other factors, the loss and loss adjustment expense ratio needed for the Company to achieve its targeted return on equity ("ROE") fluctuates from year to year based on changes in the expected investment yield over the claim settlement period, the timing of expected claim

Previous wording

Traditional life and disability insurance type products, such as those sold by Employee Benefits, collect premiums from policyholders in exchange for financial protection for the policyholder from a specified insurable loss, such as death or disability. These premiums together with net investment income earned are used to pay the contractual obligations under these insurance contracts. Two major factors, new sales and persistency, impact premium growth. Sales can increase or decrease in a given year based on a number of factors, including but not limited to, customer demand for the Company’s product offerings, pricing competition, distribution channels and the Company’s reputation and ratings. Persistency refers to the percentage of premium remaining in-force from year-to-year.

Current wording

Traditional life and disability insurance type products, such as those sold by Employee Benefits, collect premiums from policyholders in exchange for financial protection for the policyholder from a specified insurable loss, such as death or disability. These premiums together with net investment income earned are used to pay the contractual obligations under these insurance contracts. Two major factors, sales and persistency, impact premium growth. Sales can increase or decrease in a given year based on a number of factors, including but not limited to, customer demand for the Company’s product offerings, pricing competition, distribution channels and the Company’s reputation and ratings. Persistency refers to the percentage of premium remaining in-force from year-to-year.

Previous wording

•A lower P&C underwriting gain of $130, before tax, driven by higher CAY catastrophe losses, partially offset by the effect of earned premium growth, a lower underlying loss and LAE ratio in Personal Insurance and a higher level of favorable prior accident year reserve development; and

Current wording

•An increase in P&C underwriting gain of $243, before tax, driven by the effect of earned premium growth, a higher level of net favorable prior accident year reserve development, a lower underlying loss and LAE ratio in Personal Insurance and lower CAY catastrophe losses, partially offset by a higher underlying loss and LAE ratio in Business Insurance;

Previous wording

•Higher net investment income of $63, before tax, primarily driven by a higher level of invested assets, reinvesting at higher interest rates, and greater income from limited partnerships and other alternative investments, partially offset by a lower yield on variable-rate securities; and

Current wording

•Higher net investment income of $62, before tax, primarily driven by the impact of higher invested assets and reinvesting at higher interest rates, partially offset by a lower yield on variable-rate securities; and

Previous wording

Earned premiums increased by $389 or 7%, primarily due to:

Current wording

Earned premiums increased by $383 or 7%, primarily due to:

Previous wording

Fee income increased primarily due to a $10 increase in Hartford Funds driven by higher daily average assets resulting from an increase in equity market levels, partially offset by net outflows over the preceding twelve month period.

Current wording

Fee income increased primarily due to a $3 increase in Hartford Funds driven by higher daily average assets resulting from an increase in equity market levels, partially offset by net outflows over the preceding twelve month period.

Previous wording

[1]Limited partnerships and other alternative investments of $16 and $39 for the three months ended March 31, 2024 and 2025 respectively.

Current wording

[1]Limited partnerships and other alternative investments of $16 and $13 for the three months ended June 30, 2024 and 2025 respectively.

Previous wording

•An increase in Property & Casualty of $394 which was attributable to:

Current wording

•An increase in Property & Casualty of $50, which was attributable to:

Previous wording

–A favorable change of $66, before tax, in P&C net prior accident year reserve development, with development in the 2025 period of $122, compared to $56 in the prior year period. Favorable prior year reserve development in the 2025 period was primarily driven by decreases in reserves related to workers' compensation, homeowners, and Personal Insurance automobile liability and physical damage. Favorable prior year reserve development in the 2024 period was primarily driven by decreases in reserves related to workers' compensation and Personal Insurance automobile physical damage, partially offset by increases in reserves for general liability, assumed reinsurance, and marine. Also included within net prior accident year reserve development for three months ended March 31, 2025 and 2024 was a benefit of $32 and $24, respectively, related to amortization of the Navigators ADC deferred gain.

Current wording

–A favorable change of $72, before tax, in P&C net prior accident year reserve development, with development in the 2025 period of $187, compared to $115 in the prior year period. Favorable prior year reserve development in the 2025 period was primarily driven by decreases in reserves related to workers' compensation, catastrophes, bond, commercial property, homeowners, and Personal Insurance automobile liability and physical damage. Favorable prior year reserve development in the 2024 period was primarily driven by decreases in reserves related to workers' compensation, catastrophes, bond, Personal Insurance automobile liability, and homeowners, partially offset by increases in reserves for general liability, assumed reinsurance, and Business Insurance automobile liability. Also included within net prior accident year reserve development for the three months ended June 30, 2025 and 2024 was a benefit of $24 and $37, respectively, related to amortization of the Navigators ADC deferred gain. For further discussion, see Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements; and

Previous wording

Income tax expense decreased primarily due to a decrease in income before tax. For further discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

Current wording

Income tax expense increased primarily due to an increase in income before tax. For further discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

Previous wording

•In Employee Benefits, a lower group life loss ratio, the effect of higher fully insured ongoing premiums, and a lower loss ratio on paid family and medical leave products, partially offset by a higher long-term disability ratio and a higher loss ratio on supplemental health products.

Current wording

•In Employee Benefits, the impact of a lower group life loss ratio, slightly higher fully insured ongoing premiums, and a lower loss ratio on paid family and medical leave products, was largely offset by the impact of a higher expense ratio, a higher long-term disability ratio, and a higher loss ratio on supplemental health products.

Previous wording

•An increase in P&C reflecting a 9% increase in Business Insurance and a 11% increase in Personal Insurance.

Current wording

•An increase in P&C reflecting a 9% increase in Business Insurance and a 10% increase in Personal Insurance.

Previous wording

•An increase in Employee Benefits earned premium of 2%, including an increase in exposure on existing accounts, new business sales, and persistency in excess of 90%.

Current wording

•An increase in Employee Benefits earned premium of 1%, including an increase in exposure on existing accounts, fully insured ongoing sales, and persistency in excess of 90%.

Previous wording

•Losses on transactional foreign currency revaluation in the 2025 period compared to gains in the 2024 period.

Current wording

•Losses on transactional foreign currency revaluation in the 2025 period compared to gains in the 2024 period; and

Previous wording

–An increase in P&C CAY loss and LAE before catastrophes of $154, before tax, primarily due to the effect of higher earned premiums, partially offset by a lower underlying loss and LAE ratio in Personal Insurance; and

Current wording

–An increase in P&C CAY loss and LAE before catastrophes of $344, before tax, primarily due to the effect of higher earned premiums, partially offset by a lower underlying loss and LAE ratio in Personal Insurance; and

Previous wording

–An increase in CAY catastrophe losses of $306, before tax. Catastrophe losses in the 2025 period included $325, net of reinsurance, related to the January 2025 California Wildfire Event, as well as losses from tornado, wind and hail events mainly in the Midwest and South regions. Catastrophe losses in the 2024 period included losses from tornado, wind and hail mainly in the Midwest, South and Mid-Atlantic regions, as well as winter storms, primarily in the Northeast, Pacific and South regions.

Current wording

–An increase in CAY catastrophe losses of $238, before tax. Catastrophe losses in the 2025 period included $313, net of reinsurance, from the January 2025 California Wildfire Event, as well as losses from tornado, wind and hail events mainly in the South and Midwest regions. Catastrophe losses in the 2024 period included losses from tornado, wind and hail events across several regions, but concentrated in the South and Midwest regions, and, to a lesser extent, from winter storms, mainly in the Northeast, Pacific and South regions.

Previous wording

•A slight decrease in Employee Benefits of $5, before tax, primarily driven by lower group life mortality, and a lower loss ratio on paid family and medical leave products, largely offset by the effect of higher earned premiums, a higher loss ratio on long-term disability and supplemental health products.

Current wording

•A slight decrease in Employee Benefits of $2, before tax, primarily driven by lower group life mortality, and a lower loss ratio on paid family and medical leave products, largely

Previous wording

•Higher direct marketing costs in Personal Insurance;

Current wording

•Higher direct marketing costs in Personal Insurance; and

Previous wording

•Higher commissions due to increased business volume and a slightly higher commission ratio due to mix of business.

Current wording

•Higher commissions due to increased business volume and a slightly higher commission ratio in Employee Benefits due to mix of business.

Previous wording

Fixed maturities, AFS, at fair value increased primarily due to net additions of corporate bonds, high-quality ABS and residential mortgage-backed securities ("RMBS"), partially offset by net reductions to tax-exempt municipal bonds.

Current wording

Fixed maturities, AFS, at fair value increased primarily due to net additions of corporate bonds and high-quality ABS, partially offset by net reductions to tax-exempt municipal bonds. The increase was also due to higher valuations as a result of lower interest rates.

Previous wording

Total net investment income increased primarily due to the impact of a higher level of invested assets, reinvesting at higher interest rates, and greater income from limited partnerships and other alternative investments, partially offset by a lower yield on variable-rate securities.

Current wording

Total net investment income increased primarily due to the impact of higher invested assets and reinvesting at higher interest rates, partially offset by a lower yield on variable-rate securities. For the six month period, the increase also reflects greater income from limited partnerships and other alternative investments.

Previous wording

Annualized net investment income yield, excluding limited partnerships and other alternative investments, was up primarily due to the impact of reinvesting at higher rates, partially offset by a lower yield on variable-rate securities.

Current wording

Annualized net investment income yield, excluding limited partnerships and other alternative investments, increased primarily due to the impact of reinvesting at higher rates, partially offset by a lower yield on variable-rate securities.

Previous wording

Average reinvestment rate, on fixed maturities and mortgage loans, excluding U.S. Treasury securities, for the three months ended March 31, 2025 was 5.6%, which was above the average yield of sales and maturities of 4.9% for the same period. Average reinvestment rate, on fixed maturities and mortgage loans, excluding U.S. Treasury securities, for the three months ended March 31, 2024 was 6.1%, which was above the average yield of sales and maturities of 5.0% for the same period.

Current wording

Average reinvestment rates, of fixed maturities and mortgage loans, excluding U.S. Treasury securities, for the three and six months ended June 30, 2025, were 5.9% and 5.7%, respectively, which were above the average yield of sales and maturities of 4.6% and 4.7%, respectively. Average reinvestment rates, of fixed maturities and mortgage loans, excluding U.S. Treasury securities, for the three and six months ended June 30, 2024, were 6.4% and 6.2%, respectively, which were above the average yield of sales and maturities of 4.9% and 4.9%, respectively.

Previous wording

[1]The change in net unrealized gains (losses) on equity securities still held as of the end of the period and included in net realized gains (losses) were $(11) and $36 for the three months ended March 31, 2025, and 2024, respectively.

Current wording

[1]The change in net unrealized gains on equity securities still held as of June 30, 2025, and included in net realized gains were $34 and $21 for the three and six months ended June 30, 2025, respectively. The change in net unrealized gains on equity securities still held as of June 30, 2024, and included in net realized gains were $15 and $44 for the three and six months ended June 30, 2024, respectively.

Previous wording

Equity securities net losses were primarily driven by a decrease in value due to lower equity market levels.

Current wording

Equity securities net gains were primarily driven by an increase in value due to higher equity market levels.

Previous wording

Gross gains and losses on sales were primarily due to sales of corporate securities and tax-exempt municipals.

Current wording

Gross gains and losses on sales were primarily due to sales of U.S. Treasuries, corporate securities, and tax-exempt municipals to fund purchases of higher-yielding investments.

Previous wording

Other, netlosses include losses of $5 on equity derivatives due to higher equity market levels and $1 on impairments of limited partnerships and other alternative investments. Also included are gains of $4 on FVO securities due to appreciation in value and $3 on interest rate derivatives driven by changes in interest rates.

Current wording

Other, netlosses for the three and six month periods ended June 30, 2024, primarily included losses of $6 and $3, respectively, on interest rate derivatives driven by changes in interest rates, and gains of $4 and $6, respectively, on transactional foreign currency revaluation. Also included for the six-month period ended June 30, 2024, were losses of $5 on equity derivatives due to higher equity market levels.

Previous wording

[1]Catastrophe losses from the January 2025 California Wildfire Event were $325, net of reinsurance, and included losses of $54 in the global assumed reinsurance business.

Current wording

[1] The three months ended June 30, 2025, included a favorable change in losses of ($12), net of reinsurance, from the January 2025 California Wildfire Event. For the six months ended June 30, 2025, catastrophe losses from the January 2025 California Wildfire Event were $313, net of reinsurance, and included losses of $54 in the global assumed reinsurance business.

Previous wording

[1]The $24 change in deferred gain on retroactive reinsurance for the three months ended March 31, 2024, related to amortization of the Navigators ADC deferred gain under retroactive reinsurance accounting.

Current wording

[2]The $24 change in deferred gain on retroactive reinsurance for the three months ended June 30, 2025 is related to amortization of the Navigators ADC deferred gain under retroactive reinsurance accounting.

Previous wording

[1]Other earned premiums of $15 and $16 for the three months ended March 31, 2024, and 2025, respectively.

Current wording

[1]Other earned premiums of $14 and $16 for the three months ended June 30, 2024, and 2025, respectively and $29 and $32, for the six months ended June 30, 2024 and 2025, respectively.

Previous wording

[1]Other written premiums of $14 and $16 for the three months ended March 31, 2024, and 2025, respectively.

Current wording

[1]Other written premiums of $14 and $16 for the three months ended June 30, 2024, and 2025, respectively and $28 and $32, for the six months ended June 30, 2024 and 2025, respectively.

Previous wording

Earned premiums increased due to written premium increases over the prior twelve months.

Current wording

Earned premiums for the three and six months ended June 30, 2025 increased due to written premium increases over the prior twelve months.

Previous wording

Written premiums increased driven by growth across small business, middle & large business and global specialty.

Current wording

Written premiumsfor the three and six months ended June 30, 2025 increased driven by growth across small business, middle & large business and global specialty.

Previous wording

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

Current wording

•Small business written premium increased driven by renewal written price increases in almost all lines, as well as mid single-digit and high single-digit new business growth for the three and six month periods, respectively. Written premium grew in nearly all lines of business, including package business, excess and surplus and automobile.

Previous wording

•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 U.S. excess casualty insurance lines. Written premiums also grew in global reinsurance, primarily in property, credit risk and casualty.

Current wording

•Global specialty written premium increased driven by written price increases across most lines as well as an increase in gross new business, primarily in U.S. excess casualty insurance lines. Written premiums also grew in global reinsurance, primarily in property, casualty and credit risk.

Previous wording

Renewal written price increases were recognized in most lines.

Current wording

Renewal written price increases were recognized in most lines for both the three and six months ended June 30, 2025.

Previous wording

•In small business, renewal written price increases were higher than the prior year, with low double-digit price increases in package business and automobile and moderating high single-digit price increases in excess and surplus lines. Workers' compensation pricing was slightly negative.

Current wording

•In small business, renewal written price increases were lower than prior year levels overall, with mid single-digit to low double-digit price increases across most lines. Workers' compensation pricing was slightly negative.