HARTFORD INSURANCE GROUP, INC.

Personal Insurance - Results of Operations

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

[3]Includes servicing revenues of $24 and $25 for the three months ended June 30, 2025 and 2024, respectively, and $44 and $44 for the six months ended June 30, 2025 and 2024, respectively. Includes servicing expenses of $19 and $18 for the three months ended June 30, 2025 and 2024, respectively, and $35 and $33 for the six months ended June 30, 2025 and 2024, respectively.

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

Written and Earned Premiums

Premium Measures

Underwriting Ratios

Product Combined Ratios

Net income (loss)

Net incomeof $91 for the three months ended June 30, 2025 improved from a loss in the prior year period, and increased for the six months ended June 30, 2025, largely driven by improved underwriting results and, to a lesser extent, from an increase in net investment income.

Underwriting gain (loss)

Underwriting gainfor the three and six months ended June 30, 2025 changed from an underwriting loss primarily due to the effect of an increase in earned premium due to renewal price increases and greater favorable prior accident year development. Current accident year catastrophe losses were lower for the three month period and higher for the six month period.

Expense ratio for the three months ended June 30, 2025 decreased primarily due to the effect of an increase in earned premium due to renewal written price increases, partially offset by a higher commission ratio due to business mix. The expense ratio for the six months ended June 30, 2025 increased slightly due to a higher commission ratiodue to business mix, partially offset bythe effect of an increase in earned premium due to renewal written price increases.

Written Premiums

Earned premiums increased in both the three and six months ended June 30, 2025 due to higher written premium over the prior twelve months in both automobile and homeowners.

Written premiums increased in both the three and six months ended June 30, 2025 driven by the effect of written pricing increases and by an increase in new business premium in homeowners in both the three month and six month periods.

Renewal written pricing moderated for both automobile and homeowners in both the three and six months ended June 30, 2025, primarily in response to moderating loss cost trends.

Effective Policy count retention was relatively stable both for automobile and homeowners in both the three and six months ended June 30, 2025, in response to moderating renewal written pricing increases.

Policies in-force as of June 30, 2025 compared to June 30, 2024 declined for automobile and increased for homeowners, reflecting the level of new business in relation to non-renewed policies.

Underlying Loss and Loss Adjustment Expense Ratio

Underlying loss and LAE ratio decreased in both automobile and homeowners in both the three and six months ended June 30, 2025. The decrease in automobile was primarily due to the impact of earned pricing increases, partially offset by higher loss costs. The higher loss costs in automobile were driven by higher physical damage and liability claim severities, partially offset by lower physical damage claim frequency. The automobile claim severity trend has moderated from the prior year. The automobile liability severity trend continues to recognize the inflationary effects and higher attorney representation rates on bodily injury claims. For homeowners, the decrease in the underlying loss and LAE ratio was primarily due to the impact of earned pricing increases, partially offset by higher claim severities, while the rate of change in severity declined from a year ago. Contributing to the higher homeowners severity was the effect of higher rebuilding costs.

Current Accident Year Catastrophes and Unfavorable (Favorable) Prior Accident Year Development

Current accident year catastrophe losses decreased in the three month period and increased in the six month period. CAY catastrophe losses for the three months ended June 30, 2025 included losses from tornado, wind and hail events across several regions, but concentrated in the South and Midwest regions. CAY catastrophe losses for the six months ended June 30, 2025 included a loss of $114, net of reinsurance, from the January 2025 California Wildfire Event, as well as losses from tornado, wind and hail events primarily in the South and Midwest regions. CAY catastrophe losses for 2024 included tornado, wind and hail events mainly in the Midwest and South regions, as well as winter storms in the Pacific and South regions.

Prior accident year development was favorable for both the three and six months ended June 30, 2025, primarily driven by lower estimated severity on homeowners, automobile physical damage, automobile liability, and catastrophes. Prior accident year development was favorable for the three and six months ended June 30, 2024, primarily driven by lower estimated severity on automobile physical damage, automobile liability, and homeowners.