HARTFORD INSURANCE GROUP, INC.

For the period ended Sep 30, 2026. Filed Oct 26, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Oct 26, 2026

HIG$137.80+2.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Results of Operations

The Consolidated Results of Operations should be read in conjunction withthe Company's Condensed Consolidated Financial Statements and the related Notes as well as with the Reportable Segment and Corporate Operating Summaries within the MD&A.

Consolidated Results of Operations

	Three Months Ended September 30,			Nine Months Ended September 30,
	2026	2025	Change	2026	2025	Change
Earned premiums	$6,351	$6,093	4%	$18,775	$17,889	5%
Fee income	87	84	4%	260	256	2%
Net investment income	850	755	13%	2,384	2,065	15%
Net realized losses	(116)	(17)	NM	(104)	(85)	(22%)
Other revenues	48	31	55%	109	83	31%
Total revenues	7,220	6,946	4%	21,424	20,208	6%
Benefits, losses and loss adjustment expenses	3,713	3,793	(2%)	11,792	11,505	2%
Amortization of deferred policy acquisition costs	679	639	6%	2,004	1,871	7%
Insurance operating costs and other expenses	1,177	1,203	(2%)	3,620	3,488	4%
Interest expense	50	50	—%	150	150	—%
Amortization of other intangible assets	18	18	—%	53	53	—%
Total benefits, losses and expenses	5,637	5,703	(1%)	17,619	17,067	3%
Income from continuing operations before income taxes	1,583	1,243	27%	3,805	3,141	21%
Income tax expense	321	222	45%	759	598	27%
Income from continuing operations, net of tax	1,262	1,021	24%	3,046	2,543	20%
Income from discontinued operations, net of tax	61	59	3%	431	162	166%
Net income	1,323	1,080	23%	3,477	2,705	29%
Preferred stock dividends	6	6	—%	16	16	—%
Net income available to common stockholders	$1,317	$1,074	23%	$3,461	$2,689	29%

Three months ended September 30, 2026 compared to 2025

Net income available to common stockholders increased by $243, primarily driven by:

A higher P&C underwriting gain of $382, before tax, primarily driven by a higher level of favorable prior accident year reserve development, including a $497, before tax, benefit related to the commutation and termination of the A&E ADC in the third quarter of 2026, the effect of earned premium growth in Business Insurance, and a lower underlying loss and LAE ratio in Personal Insurance, partially offset by higher CAY catastrophe losses and a higher underlying loss and LAE ratio in Business Insurance; and

Higher net investment income of $95, before tax.

These increases were partially offset by:

In Employee Benefits, the impact of higher short-term and long-term disability loss ratios and a higher group life loss ratio, partially offset by a lower expense ratio; and

Greater net realized losses of $99, before tax.

For a discussion of the Company's operating results by segment, see MD&A - Reportable Segment and Corporate Operating Summaries. For additional information regarding the A&E ADC, refer to Note 8 - Reinsurance and Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

Table of Contents	Index to MD&A

Revenue

Earned premiums increased by $258 or 4%, primarily due to:

An increase in P&C reflecting a 7% increase in Business Insurance, partially offset by a 4% decrease in Personal Insurance.

–Contributing to the increase in Business Insurance was the effect of earned pricing increases across the majority of lines of business and the impact of new business.

–Personal Insurance declined driven by automobile, as the impact of a decline in policies in-force was partially offset by earned pricing increases, while homeowners increased primarily due to earned pricing increases.

Employee Benefits earned premium increased primarily due to the impact of new business sales, an increase in exposure on existing accounts, and book persistency in excess of 90%.

Net Investment Income

[1]Limited partnerships and other alternative investments of $91 and $156 for the three months ended September 30, 2025 and 2026 respectively.

Net investment income increased primarily due to higher income from limited partnerships and other alternative investments and the impact of a higher level of invested assets.

Net realized losses increased primarily due to losses on interest rate derivatives in the 2026 period.

For further discussion of investment results, see MD&A - Investment Results, Net Realized Gains and MD&A - Investment Results, Net Investment Income.

Table of Contents	Index to MD&A

Benefits, Losses and Expenses

Losses and LAE Incurred for P&C

Benefits, losses and loss adjustment expenses decreased $80 due to:

A decrease in Property & Casualty of $204, which was attributable to:

–An increase in P&C favorable prior accident year reserve development of $491, with favorable development in the 2026 period of $594, compared to $103 in the prior year period. Net favorable prior accident year reserve development in the 2026 period was primarily driven by a $497 benefit related to the commutation and termination of the A&E ADC. Also included within prior accident year reserve development in the 2026 period were decreases in reserves for workers' compensation, Personal Insurance automobile liability and physical damage, and commercial property. 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. Also included within net prior accident year reserve development for the 2025 period was a benefit of $8 related to amortization of the Navigators ADC deferred gain, which has been fully amortized as of September 30, 2025.

–An increase in P&C CAY loss and LAE before catastrophes of $159, 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

–An increase in CAY catastrophe losses of $128. Catastrophe losses in both the 2026 and 2025 periods primarily included losses from tornado, wind and hail events.

For further discussion, see Note 8 - Reinsurance and Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

Losses and LAE Incurred for Employee Benefits

Employee Benefits losses and LAE increased $124, primarily due to higher short-term and long-term disability loss ratios, as well as higher earned premium. Higher loss ratios were driven by increased claim incidence across short and long-term disability and less favorable long-term disability claim recoveries compared with the prior year, as well as a higher group life loss ratio compared to the prior year, reflecting that the 2025 period included a benefit related to favorable development on prior quarters, partially offset by lower mortality in the 2026 period in term life products.

Amortization of deferred policy acquisition costs increased from the prior year period driven by Business Insurance, reflecting an increase in earned premiums across all lines of business.

Insurance operating costs and other expenses decreased due to:

Lower staffing costs.

Higher P&C commissions, driven by the impact of increased business volume; and

Higher technology costs, including increased investment in our businesses.

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.

Table of Contents	Index to MD&A

Nine months ended September 30, 2026 compared to 2025

Net income available to common stockholders increased by $772 primarily driven by:

A higher P&C underwriting gain of $491, before tax, primarily driven by a higher level of net favorable prior accident year reserve development, including a $497, before tax, benefit related to the commutation and termination of the A&E ADC in the third quarter of 2026, the effect of earned premium growth in Business Insurance, lower CAY catastrophe losses, and a lower underlying loss and LAE ratio in Personal Insurance, partially offset by a higher underlying loss and LAE ratio in Business Insurance;

Higher net investment income of $319, before tax; and

A $269 increase in income from discontinued operations, net of tax, primarily related to a $251 income tax benefit associated with establishing a deferred tax asset related to

the sale of Hartford Funds. For further information related to the sale of Hartford Funds, refer to Note 17 - Discontinued Operations of Notes to Condensed Consolidated Financial Statements.

These increases were partially offset by:

In Employee Benefits, the impact of a higher short-term and long-term disability loss ratio, partially offset by a lower group life loss ratio and a lower expense ratio; and

Greater net realized losses of $19, before tax.

Revenue

Earned premiums increased by $886, or 5%, primarily due to:

An increase in P&C reflecting a 7% increase in Business Insurance, partially offset by a 2% decrease in Personal Insurance.

–Contributing to the increase in Business Insurance was the effect of earned pricing increases across the majority of lines of business and an increase in new business.

Employee Benefits earned premium increased primarily due to higher new business sales, an increase in exposure on existing accounts, and book persistency in excess of 90%.

Net Investment Income

[1]Limited partnerships and other alternative investments of $143 and $345 for the nine months ended September 30, 2025 and 2026, respectively.

Net investment income increased due to higher income from limited partnerships and other alternative investments and the impact of a higher level of invested assets.

Net realized losses increased primarily due to losses on interest rate derivatives, largely offset by greater appreciation in value of equity securities in the 2026 period and a realized gain on the sale of an other investment.

For further discussion of investment results, see MD&A - Investment Results, Net Realized Gains and MD&A - Investment Results, Net Investment Income.

Table of Contents	Index to MD&A

Benefits, Losses and Expenses

Losses and LAE Incurred for P&C

Benefits, losses and loss adjustment expenses increased $287, due to:

An increase in Employee Benefits losses and LAE of $304, as higher short-term and long-term disability loss ratios, as well as higher earned premium, were partially offset by a lower group life loss ratio, reflecting reduced mortality in both term and accidental life products. The increases in the disability loss ratios were driven by increased claim incidence across short and long-term disability and less favorable long-term disability claim recoveries, partially offset by continued paid family and medical leave pricing actions.

A decrease in Property & Casualty of $18, which was attributable to:

–An increase in P&C favorable net prior accident year reserve development of $334, with favorable development in the 2026 period of $746, compared to $412 in the prior year period. Net favorable prior accident year reserve development in the 2026 period was primarily driven by a $497 benefit related to the commutation and termination of the A&E ADC. Also included within prior accident year reserve development in the 2026 period were decreases in reserves for workers' compensation, Personal Insurance automobile liability and physical damage, catastrophes, homeowners, bond, and commercial property, partially offset by an increase in reserves for general liability and commercial automobile liability. 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. Also included within net prior accident year reserve development for the nine months ended September 30,

2025 was a benefit of $64 related to amortization of the Navigators ADC deferred gain, which has been fully amortized as of September 30, 2025; and

–Lower CAY catastrophe losses of $99. Catastrophe losses in the 2026 period primarily included losses from tornado, wind and hail events and winter storms. Catastrophe losses in the 2025 period included losses from tornado, wind and hail events as well as a loss of $305, net of reinsurance, from the January 2025 California Wildfire Event.

–An increase in P&C CAY loss and LAE before catastrophes of $415, 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.

Losses and LAE Incurred for Employee Benefits

For further discussion, see Note 8 - Reinsurance and Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

Amortization of deferred policy acquisition costs increased from the prior year period driven by Business Insurance, reflecting an increase in earned premiums across all lines of business.

Table of Contents	Index to MD&A

Insurance operating costs and other expenses increased due to:

Higher technology costs, including increased investment in our businesses;

Higher P&C commissions, driven by the impact of increased business volume;

A loss on disposal of real estate, which was sold during the second quarter of 2026; and

Higher staffing costs, partly in response to increased business volume.

Income from discontinued operations, net of taxincreased primarily due to a $251 income tax benefit associated with the sale of Hartford Funds representing the difference between the tax basis and U.S. GAAP carrying value of Hartford Funds. For further discussion of discontinued operations, see Note 17 - Discontinued Operations of Notes to Condensed Consolidated Financial Statements.

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