HARTFORD INSURANCE GROUP, INC.

Previous 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.

Current wording

[1]The Company recorded amortization of the deferred gain related to the Navigators adverse development cover ("Navigators ADC") of $8 and $64 for the three and nine months ended September 30, 2025 and $26 and $87 for the three and nine months ended September 30, 2024, respectively. The deferred gain has been fully amortized as of September 30, 2025. 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

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.

Current 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 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

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 settlements and the targeted returns set by management based on the competitive environment.

Previous wording

Net investment income excluding limited partnerships and other alternative investments- This non-GAAP measure is the amount of net investment income on a consolidated level earned from invested assets, excluding the net investment income related to limited partnerships and other alternative investments. The Company believes that net investment income excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment earnings because it excludes the impact of the volatility in returns related to limited partnerships and other alternative investments. Net investment income is the most directly comparable U.S. GAAP measure. A reconciliation of net investment income to net investment income excluding limited partnerships and other alternative investments - is set forth in the Investment Results section within MD&A.

Current wording

Net investment income excluding limited partnerships and other alternative investments- This non-GAAP measure is the amount of net investment income on a consolidated level earned from invested assets, excluding the net investment income related to limited partnerships and other alternative investments. The Company believes that net investment income excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment

Previous wording

Premium Retention- For middle & large business, represents the ratio of prior period premiums that were successfully renewed divided by premiums associated with policies available for renewal in the current period. Premium retention excludes premium amounts from annual audits, renewal written price increases and changes in exposure, including amount of insurance. Premium retention statistics are subject to change from period to period based on a number of

Current wording

Premium Retention- For middle & large business, represents the ratio of prior period premiums that were successfully renewed divided by premiums associated with policies available for renewal in the current period. Premium retention excludes premium amounts from annual audits, renewal written price increases and changes in exposure, including amount of insurance. Premium retention statistics are subject to change from period to period based on a number of factors, including the effect of subsequent cancellations and non-renewals.

Previous wording

Renewal Written Price Increase (Decrease)-For Business Insurance, represents the combined effect of rate changes, and individual risk pricing decisions per unit of exposure on policies that renewed and includes amount of insurance. For Personal Insurance, renewal written price increases represent the total change in premium per policy since the prior year on those policies that renewed and includes the combined effect of rate changes, amount of insurance and other changes in exposure. For Personal Insurance, other changes in exposure include, but are not limited to, the effect of changes in number of drivers, vehicles and incidents, as well as changes in customer policy elections, such as deductibles and limits. The rate component represents the change in rate impacting renewal policies as previously filed with and approved by state regulators during the period. Amount of insurance represents the change in the value of the rating base, such as model year/vehicle symbol for automobiles, building replacement costs for property and wage inflation for workers’ compensation. A number of factors affect renewal written price increases (decreases) including expected loss costs as projected by the Company’s pricing actuaries, rate filings approved by state regulators, risk selection decisions made by the Company’s underwriters and marketplace competition. Renewal written price changes reflect the property and casualty insurance market cycle. Prices tend to increase for a particular line of business when insurance carriers have incurred significant losses in that line of business in the recent past or the industry as a whole commits less of its capital to writing exposures in that line of business. Prices tend to decrease when recent loss experience has been favorable or when competition among insurance carriers increases. Renewal written price statistics are subject to change from period to period, based on a number of factors, including changes in actuarial estimates and the effect of subsequent cancellations and non-renewals, and modifications made to better reflect ultimate pricing achieved.

Current wording

Renewal Written Price Increase (Decrease)-For Business Insurance, represents the combined effect of rate changes, and individual risk pricing decisions per unit of exposure on policies that renewed and includes amount of insurance. For Personal Insurance, renewal written price increases represent the total change in premium per policy since the prior year on those policies that renewed and includes the combined effect of rate changes, amount of insurance and other changes in exposure. For Personal Insurance, other changes in exposure include, but are not limited to, the effect of changes in number of drivers, vehicles and incidents, as well as changes in customer policy elections, such as deductibles and limits. The rate component represents the change in rate impacting renewal policies as previously filed with and approved by state regulators during the period. Amount of insurance represents the change in the value of the rating base, such as model year/vehicle symbol for automobiles, building replacement costs for property and wage inflation for workers’ compensation. A number of factors affect renewal written price increases (decreases) including expected loss costs as projected by the Company’s pricing actuaries, rate filings approved by state regulators, risk selection decisions made by the Company’s underwriters and marketplace competition. Renewal written price changes reflect the property and casualty insurance market cycle. Prices tend to increase for a particular line of business when insurance carriers have incurred significant losses in that line of business in the recent past or the industry as a whole commits less of its capital to writing exposures in that line of business. Prices tend to decrease when recent loss experience has been favorable or when competition among insurance carriers increases. Renewal written price

Previous wording

Three months ended June 30, 2025 compared to the three months ended June 30, 2024

Current wording

Three months ended September 30, 2025 compared to 2024

Previous 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;

Current wording

•An increase in P&C underwriting gain of $274, before tax, driven by lower CAY catastrophe losses, the effect of earned premium growth, a higher level of net favorable prior accident year reserve development, and a lower underlying loss and LAE ratio in Personal Insurance, partially offset by a higher underlying loss and LAE ratio in Business Insurance; and

Previous wording

•In Employee Benefits, the impact of a higher expense ratio, including higher technology costs and staffing costs, and a higher loss ratio on long-term and short-term disability, partially offset by a lower group life loss ratio.

Current wording

•In Employee Benefits, the impact of a higher expense ratio, including higher staffing and technology costs, and a higher long-term disability loss ratio, partially offset by a lower group life loss ratio and a lower loss ratio on the paid family and medical leave product.

Previous wording

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

Current wording

•An increase in P&C reflecting a 9% increase in Business Insurance and a 7% increase in Personal Insurance.

Previous wording

–For Personal Insurance, earned premium increased primarily due to the effect of earned pricing increases, partially offset by non-renewals.

Current wording

–For Personal Insurance, earned premium increased primarily due to the effect of earned pricing increases, partially offset by a decline in policies in-force.

Previous wording

•Employee Benefits earned premium was essentially flat, as an increase in exposure on existing accounts was offset by lower fully insured ongoing sales.

Current wording

•Employee Benefits earned premium was essentially flat, as an increase in exposure on existing accounts was offset by lower fully insured ongoing sales during the past year.

Previous 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.

Current wording

Fee income increased primarily due to a $14 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 $13 for the three months ended June 30, 2024 and 2025 respectively.

Current wording

[1]Limited partnerships and other alternative investments of $37 and $91 for the three months ended September 30, 2024 and 2025 respectively.

Previous wording

Net realized losses improved primarily due to fewer net losses on sales of fixed maturities. Also included were valuation improvements on equity securities, partially offset by valuation declines on equity derivatives, due to higher equity market levels.

Current wording

•Fewer net losses on sales of fixed maturities in the 2025 period compared to the 2024 period; and

Previous wording

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

Current wording

•Gains on transactional foreign currency revaluation in the 2025 period compared to losses in the 2024 period.

Previous wording

•An increase in Property & Casualty of $444, which was attributable to:

Current wording

•A decrease in Property & Casualty of $33, which was attributable to:

Previous wording

–A decrease in CAY catastrophe losses of $68, before tax. Catastrophe losses in 2025 and 2024 included losses from tornado, wind and hail events across several regions, but concentrated in the South and Midwest regions.

Current wording

–A decrease in CAY catastrophe losses of $177, before tax. Catastrophe losses in the 2025 period included losses from tornado, wind and hail events across several regions, but concentrated in the Mountain West and South regions. Catastrophe losses in the 2024 period included losses from hurricanes, including a loss of $104 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, Northeast and Mountain West regions; and

Previous 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

Current wording

–A favorable change of $53, before tax, in P&C net prior accident year reserve development, with development in the 2025 period of $103, compared to $50 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 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 and Business Insurance automobile liability. Also included within net prior accident year reserve development for the three months ended September 30, 2025 and 2024 was a benefit of $8 and $26, respectively, related to amortization of the Navigators ADC deferred gain, which has been fully amortized as of September 30, 2025. For further discussion, see Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

Previous 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

Current wording

–An increase in P&C CAY loss and LAE before catastrophes of $197, before tax, primarily due to the effect of higher earned premiums and a higher underlying loss and LAE ratio in Business Insurance, partially offset by a lower underlying loss and LAE ratio in Personal Insurance.

Previous wording

•A slight increase in Employee Benefits of $3, before tax, primarily driven by a higher loss ratio on short-term and long-term disability, largely offset by a lower group life loss ratio.

Current wording

•A slight increase in Employee Benefits of $2, before tax, primarily driven by a higher long-term disability loss ratiodue to a benefit in the prior year related to an update to the long-term disability claim recovery rate assumptions, largely offset by a lower group life loss ratio driven by lower mortality and a lower loss ratio on the paid family and medical leave product.

Previous wording

•Higher technology costs, including increased investment;

Current wording

•Higher technology costs, including increased investment; and

Previous 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.

Current wording

Income tax expense increased primarily due to an increase in income before tax, partially offset by a higher net tax benefit in the Corporate category. For further discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

Previous wording

•A higher P&C underwriting gain of $94, before tax, driven by a lower underlying loss and LAE ratio in Personal Insurance, a higher level of favorable prior accident year reserve development, and the effect of earned premium growth, partially offset by higher CAY catastrophe losses, and a higher underlying loss and LAE ratio in Business Insurance; and

Current wording

•A higher P&C underwriting gain of $368, before tax, driven by the effect of earned premium growth, a higher level of favorable prior accident year reserve development, and a lower underlying loss and LAE ratio in Personal Insurance, partially offset by a higher underlying loss and LAE ratio in Business Insurance and higher CAY catastrophe losses; and

Previous wording

•Higher net investment income of $125, 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;

Current wording

•Higher net investment income of $225, before tax, driven by a higher level of invested assets, reinvesting at higher interest rates, and higher income from limited partnerships and other alternative investments, partially offset by a lower yield on variable-rate securities;

Previous 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.

Current wording

•In Employee Benefits, the impact of a higher expense ratio, including higher staffing costs and technology costs, and a higher long-term disability loss ratio, partially offset by a lower group life loss ratio, a lower loss ratio on the paid family and medical leave product, and the impact of slightly higher fully insured ongoing premiums.

Previous wording

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

Current wording

Earned premiums increased by $1,131, or 7%, primarily due to:

Previous wording

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

Current wording

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

Previous wording

–For Personal Insurance, earned premium increased primarily due to the effect of earned pricing increases, partially offset by non-renewals.

Current wording

–For Personal Insurance, earned premium increased primarily due to the effect of earned pricing increases, partially offset by a decline in policies in-force.

Previous 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%.

Current wording

•A slight increase in Employee Benefits earned premium of 1%, including an increase in exposure on existing accounts and persistency in excess of 90%.

Previous wording

Fee income increased, primarily due to a $13 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 $27 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 $32 and $52 for the six months ended June 30, 2024 and 2025, respectively.

Current wording

[1]Limited partnerships and other alternative investments of $69 and $143 for the nine months ended September 30, 2024 and 2025, respectively.

Previous wording

•Lower appreciation in value of equity securities in the current year compared to the prior year;

Current wording

•Lower appreciation in value of equity securities in the 2025 period compared to the 2024 period;

Previous wording

•Depreciation in value of fixed maturities, at fair value using the fair value option (“FVO securities”) in the 2025 period compared to appreciation in the 2024 period due to changes in credit spreads.

Current wording

•Greater depreciation in value of fixed maturities, at fair value using the fair value option (“FVO securities”) in the 2025 period due to changes in credit spreads.

Previous wording

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

Current wording

•An increase in Property & Casualty of $411, which was attributable to:

Previous wording

–An increase in P&C CAY loss and LAE before catastrophes of $190, before tax, primarily due to the effect of higher earned premiums, partially offset by a lower underlying loss and LAE ratio in Personal Insurance.

Current wording

–An increase in P&C CAY loss and LAE before catastrophes of $541, before tax, primarily due to the effect of higher earned premiums and a higher underlying loss and LAE ratio in Business Insurance, partially offset by a lower underlying loss and LAE ratio in Personal Insurance; and

Previous 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.

Current wording

–An increase in CAY catastrophe losses of $61, before tax. Catastrophe losses in the 2025 period included losses from tornado, wind and hail events across several regions, but concentrated in the South and Midwest regions as well as a loss of $305, net of reinsurance, from the January 2025 California Wildfire Event. Catastrophe losses in the 2024 period included losses from tornado, wind and hail events across several regions of the United States, as well as losses from hurricanes and tropical storms mainly in the Southeast and South regions, and, to a lesser extent, from winter storms, mainly in the Pacific, Northeast and South regions.

Previous wording

–A favorable change of $138, before tax, in P&C net prior accident year reserve development, with favorable development in the 2025 period of $309, compared to $171 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, homeowners, commercial property, bond, 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 six months ended June 30, 2025 and 2024 was a benefit of $56 and $61, 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.

Current wording

–A favorable change of $191, before tax, in P&C net prior accident year reserve development, with favorable development in the 2025 period of $412, compared to $221 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, Personal Insurance automobile liability and physical damage, catastrophes, homeowners, commercial property, and bond. 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 physical damage, homeowners, and Personal Insurance automobile liability, partially offset by increases in reserves for general liability, Business Insurance automobile liability, and assumed reinsurance. Also included within net prior accident year reserve development for the nine months ended September 30, 2025 and 2024 was a benefit of $64 and $87, respectively, related to amortization of the Navigators ADC deferred gain, which has been fully amortized as of September 30, 2025. For further discussion, see Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

Previous wording

•An increase in doubtful accounts expense partly due to higher business volume; and

Current wording

•An increase in doubtful accounts expense partly due to higher business volume;

Previous wording

Total investments increased primarily due to an increase in fixed maturities, AFS, at fair value, partially offset by a decrease in short-term investments.

Current wording

Total investments increased primarily due to an increase in fixed maturities, AFS, at fair value and limited partnerships and other alternative investments.