Financial Data and Key Metrics Changes - The company reported core earnings growth of 14% with core EPS growth of 23% for the year [95] - Core earnings ROE was 14.4%, and the company returned $2.1 billion of excess capital to shareholders [95] - The underlying combined ratio improved to 87.4 from the prior year, driven by lower loss and expense ratios [112] Business Line Data and Key Metrics Changes - In commercial lines, written premium growth was 11%, with an underlying combined ratio of 88.3 [95] - Group Benefits saw fully insured premium growth of 6% with a core earnings margin of 6.5% [95] - Personal lines experienced a written premium growth of 4% for the fourth quarter and 2% for the full year, with an underlying combined ratio of 96.2 [107][114] Market Data and Key Metrics Changes - The commercial lines renewal written price increased by 4.9% for the quarter, with U.S. Standard commercial lines renewal pricing excluding workers' compensation at 7.9% [105] - In Global Specialty, gross written premiums increased by 9% for the year, with significant growth in various segments [104] - The personal lines market saw auto rates increase by an average of 8.3% in the fourth quarter, reflecting inflationary pressures [108] Company Strategy and Development Direction - The company aims to sustain superior returns through a performance-driven culture, outstanding underwriting, and innovative technology [6] - There is a focus on expanding capabilities in the excess and surplus binding lines, targeting a market of approximately $8 billion [99] - The company is committed to digital transformation and product innovation in Group Benefits to strengthen market leadership [110] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to manage the book through various economic environments, expecting an underlying combined ratio in commercial lines to be between 87 to 89 [1] - The company anticipates that mortality trends will settle above pre-pandemic levels, pricing business accordingly [4] - Management is optimistic about achieving a core earnings ROE range of 14% to 15% while creating value for stakeholders [14] Other Important Information - The company was recognized in The Bloomberg Gender-Equality Index and for its commitment to sustainability [5] - Investment income is increasing, supported by a diversified portfolio of assets, with credit quality remaining healthy [6] - The company completed its annual asbestos and environmental reserve study, resulting in a significant increase in reserves [119] Q&A Session All Questions and Answers Question: Regarding the Hartford Next program and expense savings - Management confirmed that the Hartford Next program is contributing to overall efficiency with a half-point benefit expected in 2023 [15][16] Question: On property market pricing and growth - Management highlighted a strategic initiative to become a bigger property writer, with approximately $3 billion in property premium [18][19] Question: Impact of layoffs on Group Benefits - Management indicated that trends in their book are stable, with strong growth in earned premium and fees [20][21] Question: Workers' compensation underlying losses and combined ratio - Management noted that renewal pricing is likely to be flat to slightly negative, with a consistent long-term medical cost inflation of five points [24][25] Question: Catastrophe loss guidance - Management explained that reinsurance treaties have not changed dramatically, and they are pleased with the overall renewal [27][28] Question: Retention statistics for commercial and personal lines - Management emphasized the importance of customer care to retain business and maintain profitability [32][33] Question: Personal lines profitability and marketing strategy - Management discussed a shift to more targeted marketing and expects to see new business growth by mid-year [55][56] Question: Investment yield outlook - Management anticipates a continued increase in annualized investment yield, expecting a 50 to 60 basis point increase in 2023 [126] Question: Workers' compensation loss cost and frequency assumptions - Management clarified that loss cost trends are stable, with slight negative expectations for renewal written premium [80][81]

The Hartford Financial Services Group, Inc. (NYSE:HIG) Q3 2022 Results Conference Call October 28, 2022 9:00 AM ET Company Participants Susan Spivak - IR Chris Swift - CEO Beth Costello - CFO Doug Elliot - President Conference Call Participants Alex Scott - Goldman Sachs Elyse Greenspan - Wells Fargo David Motemaden - Evercore ISI Brian Meredith - UBS Greg Peters - Raymond James Andrew Kligerman - Credit Suisse Michael Phillips - Morgan Stanley Josh Shanker - Bank of America Yaron Kinar - Jefferies Michael ...

Part I - Financial Information [Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for The Hartford Financial Services Group, Inc. as of September 30, 2022, including statements of operations, comprehensive income, balance sheets, changes in stockholders' equity, and cash flows, along with detailed notes covering significant accounting policies, segment performance, investments, derivatives, reserves, and other financial details Condensed Consolidated Statements of Operations Highlights | Indicator | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Total revenues** | $5,580M | $5,686M | $16,346M | $16,574M | | **Income before income taxes** | $431M | $583M | $1,526M | $1,996M | | **Net income** | $339M | $482M | $1,226M | $1,636M | | **Net income available to common stockholders** | $333M | $476M | $1,210M | $1,620M | | **Diluted EPS** | $1.02 | $1.36 | $3.65 | $4.54 | Condensed Consolidated Balance Sheets Highlights | Indicator | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Total investments** | $50,661M | $57,749M | | **Total assets** | $71,801M | $76,578M | | **Total liabilities** | $58,846M | $58,735M | | **Total stockholders' equity** | $12,955M | $17,843M | Condensed Consolidated Statements of Cash Flows Highlights | Indicator | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $2,924M | $2,889M | | **Net cash used for investing activities** | ($705M) | ($1,748M) | | **Net cash used for financing activities** | ($2,253M) | ($963M) | [Note 3 - Segment Information](index=13&type=section&id=Note%203%20-%20Segment%20Information) The company operates in five main segments: Commercial Lines, Personal Lines, P&C Other Operations, Group Benefits, and Hartford Funds, with Commercial Lines being the largest contributor to net income at $1,058 million for the nine months ended September 30, 2022, and total earned premiums and fee income growing to $15.4 billion year-to-date Net Income (Loss) by Segment (YTD ended Sep 30) | Segment | 2022 (in millions) | 2021 (in millions) | | :--- | :--- | :--- | | Commercial Lines | $1,058 | $1,055 | | Personal Lines | $47 | $304 | | P&C Other Operations | ($6) | $26 | | Group Benefits | $184 | $207 | | Hartford Funds | $117 | $155 | | Corporate | ($174) | ($111) | | **Total Net Income** | **$1,226** | **$1,636** | Total Earned Premiums and Fee Income by Segment (YTD ended Sep 30) | Segment | 2022 (in millions) | 2021 (in millions) | | :--- | :--- | :--- | | Commercial Lines | $7,833 | $7,053 | | Personal Lines | $2,218 | $2,240 | | Group Benefits | $4,511 | $4,260 | | Hartford Funds | $803 | $884 | | Corporate | $37 | $38 | | **Total** | **$15,402** | **$14,475** | [Note 5 - Investments](index=24&type=section&id=Note%205%20-%20Investments) The company reported net realized losses of **$649 million** for the nine months ended September 30, 2022, a significant shift from net realized gains of **$297 million** in the prior year, primarily due to net unrealized losses on equity securities and fixed maturities, while the mortgage loan portfolio grew to **$5.9 billion** Net Realized Gains (Losses) (YTD ended Sep 30) | Component | 2022 (in millions) | 2021 (in millions) | | :--- | :--- | :--- | | Gross gains on sales of fixed maturities | $54 | $162 | | Gross losses on sales of fixed maturities | ($256) | ($54) | | Net realized and unrealized gains (losses) on equity securities | ($450) | $134 | | Net credit losses on fixed maturities, AFS | ($15) | $4 | | Change in ACL on mortgage loans | ($7) | $12 | | **Total Net Realized (Losses) Gains** | **($649)** | **$297** | - As of September 30, 2022, fixed maturities (AFS) in an unrealized loss position totaled **$33.4 billion** in fair value, with gross unrealized losses of **$3.9 billion**, a significant increase from December 31, 2021, when unrealized losses were **$144 million**[98](index=98&type=chunk)[99](index=99&type=chunk) Mortgage Loans by Property Type (Amortized Cost) | Property Type | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Industrial | $2,146M (36.0%) | $1,931M (35.7%) | | Multifamily | $2,222M (37.2%) | $1,833M (33.9%) | | Office | $611M (10.2%) | $627M (11.6%) | | Retail | $948M (15.9%) | $951M (17.6%) | | **Total** | **$5,967M** | **$5,412M** | [Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses](index=40&type=section&id=Note%209%20-%20Reserve%20for%20Unpaid%20Losses%20and%20Loss%20Adjustment%20Expenses) For the nine months ended September 30, 2022, the company recorded favorable prior accident year development of **$147 million** for its P&C business, a reversal from **$170 million** of unfavorable development in the prior-year period, driven by workers' compensation, package business, and personal auto liability, while Group Benefits also saw favorable development of **$323 million** P&C Prior Accident Year Development (YTD ended Sep 30) | Line of Business | 2022 (in millions) | 2021 (in millions) | | :--- | :--- | :--- | | Workers' compensation | ($143) | ($113) | | General liability | $33 | $451 | | Package business | ($35) | ($66) | | Automobile liability (Comm. & Pers.) | $9 | ($64) | | Catastrophes | ($32) | ($98) | | **Total Prior Accident Year Development** | **($147)** | **$170** | - For the nine months ended September 30, 2022, favorable development in workers' compensation was driven by lower than estimated claim severity for accident years 2014-2018, while unfavorable development in general liability was driven by increased settlement costs for large claims from 2016-2019[188](index=188&type=chunk)[189](index=189&type=chunk) - Group disability prior period reserve estimates decreased by approximately **$275 million** YTD, driven by lower long-term disability claim incidence, strong recoveries, and higher estimated claim termination rates[213](index=213&type=chunk) [Note 13 - Commitments and Contingencies](index=45&type=section&id=Note%2013%20-%20Commitments%20and%20Contingencies) The company is involved in various legal proceedings, including **over 300 lawsuits** related to COVID-19 business interruption claims, ongoing management of run-off asbestos and environmental (A&E) claims partially mitigated by a reinsurance agreement with NICO, and a pending settlement agreement with the Boy Scouts of America for **$787 million** related to sexual abuse claims - The company has been named in **over 300 lawsuits** seeking coverage for business income losses due to COVID-19, which it denies citing lack of direct physical damage and virus exclusions[235](index=235&type=chunk)[236](index=236&type=chunk) - A settlement agreement with the Boy Scouts of America (BSA) for **$787 million** was executed in February 2022, pending final court approval after bankruptcy court approval in September 2022[203](index=203&type=chunk)[204](index=204&type=chunk) - The company has an Adverse Development Cover (A&E ADC) with NICO to reinsure A&E loss development, with **$1,015 million** of the **$1.5 billion** limit utilized, leaving **$485 million** of available coverage as of September 30, 2022[207](index=207&type=chunk)[251](index=251&type=chunk) [Note 14 - Equity](index=48&type=section&id=Note%2014%20-%20Equity) The company actively repurchased **$1.2 billion (17 million shares)** of its common stock during the nine months ended September 30, 2022, and authorized a new **$3.0 billion** share repurchase program in July 2022, with **$3.1 billion** remaining available for repurchases as of September 30, 2022 - During the nine months ended September 30, 2022, the company repurchased **$1.2 billion (17 million shares)** of its common stock[256](index=256&type=chunk) - In July 2022, the Board of Directors approved a new share repurchase authorization for up to **$3.0 billion**, effective from August 1, 2022, to December 31, 2024, with **$3.1 billion** remaining available for repurchases under all programs as of September 30, 2022[256](index=256&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=61&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting a 30% decrease in Q3 net income available to common stockholders to **$333 million**, driven by net realized investment losses and lower net investment income, while core earnings for Q3 rose to **$471 million** from **$442 million** year-over-year, detailing segment performance, cost reduction plans, enterprise risks, and capital position Reconciliation of Net Income to Core Earnings | (in millions) | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Net income available to common stockholders** | $333 | $476 | $1,210 | $1,620 | | Adjustments (Net realized losses, restructuring, etc.) | $138 | ($34) | $536 | ($139) | | **Core earnings** | **$471** | **$442** | **$1,746** | **$1,481** | - The 'Hartford Next' operational transformation plan is expected to achieve annual expense savings of approximately **$560 million** by 2022 and **$625 million** by 2023, relative to 2019 levels, with cumulative savings for the nine months ended Sep 30, 2022, at **$413 million**[335](index=335&type=chunk)[338](index=338&type=chunk) [Commercial Lines](index=75&type=section&id=Commercial%20Lines) Commercial Lines reported net income of **$286 million** for Q3 2022, down from **$357 million** in Q3 2021, primarily due to net realized losses and lower investment income, despite an improved underwriting result and a combined ratio of **94.3%** Commercial Lines Underwriting Ratios (Q3) | Ratio | 2022 | 2021 | Change (pts) | | :--- | :--- | :--- | :--- | | Total loss and loss adjustment expense ratio | 62.6% | 69.2% | (6.6) | | Expense ratio | 31.5% | 31.8% | (0.3) | | **Combined ratio** | **94.3%** | **101.2%** | **(6.9)** | | **Underlying combined ratio** | **89.3%** | **87.2%** | **2.1** | - Written premiums grew **10%** in Q3 2022 to **$2.8 billion**, driven by growth across Small Commercial, Middle & Large Commercial, and Global Specialty segments, reflecting strong new business, retention, and renewal price increases[422](index=422&type=chunk)[445](index=445&type=chunk) [Personal Lines](index=80&type=section&id=Personal%20Lines) Personal Lines reported a net loss of **$36 million** in Q3 2022, a sharp decline from a **$51 million** net income in Q3 2021, due to higher current accident year loss costs in both auto and homeowners, increased catastrophe losses, and less favorable prior year development, resulting in a combined ratio of **109.6%** Personal Lines Underwriting Ratios (Q3) | Ratio | 2022 | 2021 | Change (pts) | | :--- | :--- | :--- | :--- | | Total loss and loss adjustment expense ratio | 82.5% | 71.2% | 11.3 | | Expense ratio | 27.1% | 27.4% | (0.3) | | **Combined ratio** | **109.6%** | **98.7%** | **10.9** | | **Underlying combined ratio** | **95.9%** | **91.8%** | **4.1** | - The underlying combined ratio for Automobile increased to **102.6%** in Q3 2022 from **99.7%** in Q3 2021, driven by an increase in average physical damage claim severity[470](index=470&type=chunk)[485](index=485&type=chunk) [Group Benefits](index=86&type=section&id=Group%20Benefits) Group Benefits net income rose to **$86 million** in Q3 2022 from **$28 million** in Q3 2021, primarily driven by a significant reduction in excess mortality losses to **$26 million** from **$212 million** in the prior-year quarter, with fully insured ongoing premiums growing 6% to **$1.5 billion** and the total loss ratio improving to **72.8%** - Excess mortality losses were **$26 million** in Q3 2022, a substantial decrease from **$212 million** in Q3 2021, which was the primary driver of the segment's improved profitability[507](index=507&type=chunk)[515](index=515&type=chunk) Group Benefits Ratios, Excluding Buyouts (Q3) | Ratio | 2022 | 2021 | Change (pts) | | :--- | :--- | :--- | :--- | | Group disability loss ratio | 68.4% | 68.4% | 0.0 | | Group life loss ratio | 83.1% | 110.9% | (27.8) | | **Total loss ratio** | **72.8%** | **84.7%** | **(11.9)** | | Expense ratio | 25.4% | 25.2% | 0.2 | [Hartford Funds](index=88&type=section&id=Hartford%20Funds) Hartford Funds reported a net income of **$41 million** for Q3 2022, down 27% from **$56 million** in Q3 2021, due to lower fee income resulting from a **16%** decrease in daily average assets under management (AUM) to **$129.8 billion**, and net outflows of **$2.2 billion** in the quarter - Daily average AUM decreased **16%** to **$129.8 billion** in Q3 2022 from **$155.0 billion** in Q3 2021, leading to lower fee income and net income[519](index=519&type=chunk) - The segment experienced net outflows of **$2.2 billion** in Q3 2022, a reversal from net inflows of **$295 million** in Q3 2021, which, combined with market depreciation, led to a **22%** year-over-year decline in mutual fund and ETF AUM[524](index=524&type=chunk)[529](index=529&type=chunk) [Enterprise Risk Management](index=91&type=section&id=Enterprise%20Risk%20Management) The company categorizes its main risks as insurance, operational, and financial, managed through disciplined underwriting, exposure controls, and risk transfer via reinsurance, maintaining a detailed property catastrophe reinsurance program and a high-quality investment portfolio with **84.8%** of fixed maturities rated 'A' or better Primary Catastrophe Treaty Reinsurance Coverages (as of Sep 30, 2022) | Treaty | Retention / Attachment Point | Coverage | | :--- | :--- | :--- | | **Per Occurrence Property** | | | | Earthquakes/Named Hurricanes | $350M | 75% of $150M xs $350M; 90% of $600M xs $500M | | Other Perils | $100M (subject to $50M AAD) | 70% of $250M xs $100M | | **Aggregate Property** | $700M | 100% of $200M xs $700M | | **Workers' Comp** | $100M | 80% of $350M xs $100M | - The company's estimated deductible under the Terrorism Risk Insurance Program (TRIPRA) is **$1.7 billion** for 2022[555](index=555&type=chunk) Fixed Maturities, AFS by Credit Quality | Rating | Fair Value (Sep 30, 2022) | Percent of Total | | :--- | :--- | :--- | | US Gov't/Agencies | $5,018M | 14.0% | | AAA | $5,675M | 15.9% | | AA | $6,465M | 18.1% | | A | $8,972M | 25.1% | | BBB | $7,732M | 21.7% | | BB & below | $1,855M | 5.2% | | **Total** | **$35,717M** | **100.0%** | [Capital Resources and Liquidity](index=102&type=section&id=Capital%20Resources%20and%20Liquidity) The company maintains a strong capital and liquidity position, with the holding company holding **$1.1 billion** in liquid assets as of September 30, 2022, and expecting to receive approximately **$1.5 billion** in net dividends from its P&C subsidiaries for 2022, despite a decrease in total capitalization to **$17.3 billion** from **$22.8 billion** at year-end 2021 - As of September 30, 2022, the holding company held **$1.1 billion** in liquid assets and had access to a **$750 million** undrawn revolving credit facility[636](index=636&type=chunk) - The company's U.S. P&C insurance subsidiaries have a dividend capacity of **$2.0 billion** for 2022, with approximately **$1.5 billion** of net dividends expected to be paid to the holding company during the year[637](index=637&type=chunk) Capital Structure | (in millions) | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Total debt | $4,356 | $4,944 | | Total stockholders' equity | $12,955 | $17,843 | | **Total capitalization** | **$17,311** | **$22,787** | | Debt to capitalization | 25% | 22% | [Controls and Procedures](index=111&type=section&id=Item%204.%20Controls%20and%20Procedures) The company's principal executive officer and principal financial officer concluded that as of September 30, 2022, the company's disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the third quarter - Management concluded that the company's disclosure controls and procedures were effective as of the end of the quarter[708](index=708&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[709](index=709&type=chunk) Part II - Other Information [Legal Proceedings](index=112&type=section&id=Item%201.%20Legal%20Proceedings) Information regarding the company's legal proceedings is contained in Note 13 of the Notes to Condensed Consolidated Financial Statements - For details on legal proceedings, refer to Note 13 - Commitments and Contingencies[710](index=710&type=chunk) [Risk Factors](index=112&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2021 - The company's risk factors are incorporated by reference from its 2021 Form 10-K Annual Report[711](index=711&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=112&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the third quarter of 2022, the company repurchased approximately **5.4 million** shares of its common stock for a total of **$350 million**, with approximately **$3.1 billion** remaining available for purchase under its publicly announced share repurchase programs as of September 30, 2022 Issuer Purchases of Equity Securities (Q3 2022) | Period | Total Shares Purchased | Average Price Paid | Value of Shares Remaining for Purchase (end of period) | | :--- | :--- | :--- | :--- | | July 2022 | 1,860,590 | $64.15 | $329M | | August 2022 | 2,158,032 | $66.03 | $3,188M | | September 2022 | 1,361,856 | $66.07 | $3,098M | | **Total** | **5,380,478** | **$65.39** | **$3,098M** |

The Hartford Financial Services Group, Inc. (NYSE:HIG) Q2 2022 Earnings Conference Call July 29, 2022 9:00 AM ET Company Participants Susan Spivak - Senior Vice President of Investor Relations Chris Swift - Chairman & Chief Executive Officer Beth Costello - Chief Financial Officer Doug Elliot - President Conference Call Participants Elyse Greenspan - Wells Fargo Greg Peters - Raymond James Brian Meredith - UBS David Motemaden - Evercore Michael Phillips - Morgan Stanley Paul Newsome - Piper Sandler Joshua S ...

4Q21 CORE EARNINGS1 OF $697 MILLION, EPS1,2 OF $2.02, ROE1,3 OF 12.7% The Hartford's Second Quarter 2022 Financial Results The Hartford Financial Services Group, Inc. | July 28, 2022 4Q21 CORE EARNINGS 4Q21 CORE EARNINGS11 OF $697 MILLION, EPS OF $697 MILLION, EPS1,2 1,2 OF $2.02, ROE OF $2.02, ROE1,3 1,3 OF 12.7% OF 12.7% SAFE HARBOR STATEMENT Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Thes ...

Financial Performance - Total revenues for Q2 2022 were $5,373 million, a decrease of 3.9% compared to $5,589 million in Q2 2021[17] - Net income available to common stockholders for Q2 2022 was $437 million, down 51.5% from $900 million in Q2 2021[17] - Basic earnings per share for Q2 2022 were $1.33, a decrease of 52.4% from $2.54 in Q2 2021[17] - Net income for Q2 2022 was $442 million, a decrease of 51% compared to $905 million in Q2 2021[19] - Comprehensive loss for Q2 2022 was $(1,121) million, compared to a comprehensive income of $1,211 million in Q2 2021[19] - Total revenues for the first half of 2022 were $10.766 billion, a slight decrease from $10.888 billion in the first half of 2021[41] - Net income available to common stockholders for the first half of 2022 was $877 million, down 23.4% from $1.144 billion in the same period of 2021[36] Premiums and Investment Income - Earned premiums increased to $4,810 million in Q2 2022, up 7.8% from $4,460 million in Q2 2021[17] - Total earned premiums and fee income for Q2 2022 reached $5.151 billion, an increase of 6.5% compared to $4.835 billion in Q2 2021[41] - Commercial Lines earned premiums increased to $2.625 billion in Q2 2022, up 11.6% from $2.352 billion in Q2 2021[41] - Net investment income decreased to $541 million in Q2 2022, down 6.9% from $581 million in Q2 2021[17] - The Hartford Funds segment generated $263 million in revenue for Q2 2022, down 11.1% from $296 million in Q2 2021[44] Expenses and Losses - Benefits, losses, and loss adjustment expenses rose to $3,076 million in Q2 2022, an increase of 10.4% from $2,786 million in Q2 2021[17] - Total benefits, losses, and expenses for Q2 2022 were $4,821 million, an increase of 7.6% from $4,479 million in Q2 2021[17] - The company reported a net realized loss of $338 million in Q2 2022, compared to a gain of $147 million in Q2 2021[17] - The company reported net realized losses of $483 million in the first half of 2022, compared to gains of $(227) million in the same period of 2021[25] Assets and Liabilities - Total assets decreased to $72,402 million as of June 30, 2022, down from $76,578 million at the end of 2021[21] - Total liabilities slightly decreased to $58,176 million from $58,735 million at the end of 2021[21] - Retained earnings increased to $16,388 million as of June 30, 2022, compared to $15,764 million at the end of 2021[21] - Cash and restricted cash at the end of the period was $348 million, up from $308 million at the end of 2021[25] Economic and Market Conditions - The company anticipates continued challenges due to economic conditions and potential impacts from the COVID-19 pandemic[9] - The company is focused on maintaining its financial strength amid regulatory and market risks[9] Reinsurance and Credit Losses - The total gross reinsurance recoverables amounted to $6,831 million, an increase from $6,622 million as of December 31, 2021[185] - The net reinsurance recoverables were reported at $5,998 million, up from $5,997 million in the previous period[185] - The allowance for uncollectible reinsurance increased to $105 million as of June 30, 2022, compared to $99 million as of June 30, 2021[192] - The company reported a decrease in the allowance for credit losses (ACL) to $44 million as of June 30, 2022, from $45 million in the prior year[193] Mortgage Loans and Real Estate - The carrying amount of mortgage loans as of June 30, 2022, was $5,852 million, compared to $5,506 million as of December 31, 2021[76] - The total mortgage loans amounted to $5.888 billion, an increase from $5.412 billion as of December 31, 2021, representing a growth of 8.8%[112] - The mortgage loans by property type showed that multifamily loans increased to $2.167 billion (36.8% of total) from $1.833 billion (33.9% of total) year-over-year[113] - The company reported no past-due mortgage loans as of June 30, 2022, maintaining a consistent performance from December 31, 2021[114] Derivative Instruments and Fair Value - The total derivatives on the balance sheet as of June 30, 2022, amounted to $10,503 million, down from $11,224 million as of December 31, 2021[146] - The fair value of interest rate swaps decreased by $19 million from December 31, 2021, to June 30, 2022[146] - The company entered into credit default swaps to assume credit risk, which are based on an agreed-upon notional amount and rate[162] - The total notional amount of non-qualifying strategies was $7,824 million, with a fair value loss of $18 million[146]

The Hartford Financial Services Group, Inc. (NYSE:HIG) Q1 2022 Earnings Conference Call April 29, 2022 9:00 AM ET Company Participants Susan Spivak - Senior Vice President of Investor Relations Chris Swift - Chairman & Chief Executive Officer Beth Costello - Chief Financial Officer Doug Elliot - President Conference Call Participants Brian Meredith - UBS Elyse Greenspan - Wells Fargo Greg Peters - Raymond James David Motemaden - Evercore ISI Michael Phillips - Morgan Stanley Alex Scott - Goldman Sachs Andre ...

H THE The Hartford's First Quarter 2022 Financial Results The Hartford Financial Services Group, Inc. | April 28, 2022 HARTFORD Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford's future results of operations. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Inve ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-Q ____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ______________ Commission file number 001-13958 ____________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-13958 THE HARTFORD FINANCIAL SERVICES GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 13-3317783 (State o ...