HARTFORD INSURANCE GROUP, INC.

Employee Benefits - Results of Operations

[1]For discussion of consolidated investment results, see MD&A - Investment Results.

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

Net income decreased for the three month period, primarily due to an increase in the expense ratio as well as a higher group disability loss ratio, partially offset by a lower group life loss ratio. For the nine month period, net income decreased primarily due to an increase in the expense ratio as well as higher net realized losses, partially offset by a lower group life loss ratio, higher fully insured ongoing premiums, and higher net investment income.

Insurance operating costs and other expenses were higher for both the three and nine month periodsdue to higher staffing costs, including increased incentive compensation and benefits, higher technology costs, including increased investment, and higher commission costs.

Fully Insured Ongoing Premiums

[1]Other of $107 and $120 for the three months ended September 30, 2024 and 2025 respectively, and $318 and $358 for the nine months ended September 30, 2024 and 2025, respectively which includes other group coverages such as retiree health insurance, critical illness, accident and hospital indemnity coverages.

Fully insured ongoing premiums remained flat for the three month period, as an increase in exposure on existing accounts was offset by lower sales during the past year. For the nine month period, premiums increased slightly over prior year and included an increase in exposure on existing accounts and persistency in excess of 90%.

Fully insured ongoing sales were flat for the three month period. For the nine month period, sales decreased compared to prior year driven by lower sales of the paid family and medical leave product and fewer large case sales.

Ratios

Loss ratio remained relatively flat for the three months ended September 30, 2025, and improved 0.4 points for the nine months ended September 30, 2025. The group life loss ratio decreased 3.3 points for the quarter and 2.2 points year-to-date driven by lower mortality across both term and accidental life products. The group disability loss ratio increased 2.7 points for the quarter and 0.9 points year-to-date largely due to a benefit in the prior year related to an update to the long-term disability claim recovery rate reserve assumptions, which reduced the prior year loss ratios by 2.2 and 0.7 points, respectively, as well as slightly higher long-term disability loss trends, partially offset by paid family and medical leave product pricing actions.

Expense ratio increased for the three and nine months ended September 30, 2025 primarily due tohigher staffing costs, including increased incentive compensation and benefits, higher technology costs, including increased investment, and a higher commission ratio.