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 16 - Income Taxes of Notes to Consolidated Financial Statements.

Premiums and Other Considerations

Ratios, Excluding Buyouts

Margin

Net income decreased primarily due to a higher group disability loss ratio, an increase in the expense ratio and higher net realized losses, partially offset by a lower group life loss ratio and higher net investment income.

Insurance operating costs and other expenses were higherdue to higher staffing costs, including increased incentive compensation and benefits and higher technology costs, including increased investment.

Fully Insured Ongoing Premiums

Fully insured ongoing premiums was up slightly as an increase in exposure on existing accounts was largely offset by lower fully insured ongoing sales during the past year.

Fully insured ongoing 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 improved 0.2 points in 2025 compared to the prior year period. The group life loss ratio decreased 2.4 points driven by lower mortality across both term and accidental life products. The group disability loss ratio increased 1.6 points due to higher short-term and long-term disability loss trends as well as the prior year update to the long-term disability claim recovery rate reserve assumptions, which reduced the prior year loss ratio by 0.5 points, partially offset by paid family and medical leave product pricing actions.

Expense ratio increased primarily due tohigher staffing costs, including increased incentive compensation and benefits and higher technology costs, including increased investment.

The Company expects growth in fully insured ongoing premiums in 2026 due to sales and continued strong book persistency. The level of long-term disability incidence and recoveries will impact the group disability loss ratio. The 2025 group life loss ratio benefited from favorable mortality which is not expected to repeat in 2026. We expect the long-term net income margin outlook for this business to be approximately 6% to 7%.