HARTFORD INSURANCE GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Property & Casualty Other Operations
| Table of Contents | Index to MD&A |
|---|
Property & Casualty Other Operations - Results of Operations
| 2025 | 2024 | 2023 | Increase (Decrease) From 2024 to 2025 | Increase (Decrease) From 2023 to 2024 | |
|---|---|---|---|---|---|
| Losses and loss adjustment expenses | |||||
| Prior accident year development [1] | $196 | $219 | $224 | (11%) | (2%) |
| Total losses and loss adjustment expenses | 196 | 219 | 224 | (11%) | (2%) |
| Insurance operating costs | 8 | 9 | 4 | (11%) | 125% |
| Underwriting loss | (204) | (228) | (228) | 11% | —% |
| Net investment income [2] | 76 | 74 | 69 | 3% | 7% |
| Net realized losses [2] | (3) | (4) | (7) | 25% | 43% |
| Other expenses | (1) | (4) | — | 75% | NM |
| Loss before income taxes | (132) | (162) | (166) | 19% | 2% |
| Income tax benefit [3] | (29) | (35) | (36) | 17% | 3% |
| Net loss | $(103) | $(127) | $(130) | 19% | 2% |
[1]For discussion of prior accident year development, see MD&A - Critical Accounting Estimates, Property & Casualty Insurance Product Reserves, Net of Reinsurance and Note 10 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Consolidated Financial Statements.
[3]For discussion of income taxes, see Note 16 - Income Taxes of Notes to Consolidated Financial Statements.
Net Loss
Net loss decreased due to lower underwriting losses as well as lower other expenses resulting from one-time contract settlement charge on a claims servicing agreement recorded in the 2024 period.
Underwriting loss decreased due to a decrease in unfavorable prior accident year reserve development.
Unfavorable prior accident year reserve development for the year ended December 31, 2025 was primarily due to a$165 increase in A&E reserves and a$31 increase in related ULAE reserves. Unfavorable prior accident year reserve development for the year ended December 31, 2024 was primarily due to a$203 increase in A&E reserves and a$28 increase in related ULAE reserves.
Asbestos reserves prior accident year development in 2025 of $122 was primarily due to higher-than-expected frequency, an increase in claim settlement rates, and higher settlement values for a subset of accounts.
Environmental reserves prior accident year development in 2025 of $43 was primarily due to higher environmental site cleanup and monitoring costs and higher legal expenses.
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