AM Best Affirms Credit Ratings of The Hartford Insurance Group, Inc. and Its Subsidiaries

AM Best Affirms Credit Ratings of The Hartford Insurance Group, Inc. and Its Subsidiaries OLDWICK, N.J.--( BUSINESS WIRE)--AM Best has affirmed the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of The Hartford Insurance Group, Inc. (The Hartford) (Delaware) (NYSE: HIG), which is the ultimate parent of the companies hereinafter mentioned. AM Best also has affirmed the Financial Strength Rating (FSR) of A+ (Superior) the Long-Term ICRs of “aa” (Superior) of Hartford Fire Insurance Company (Hartford, CT) and its pooling subsidiaries and affiliates, as well as Hartford Life and Accident Insurance Company (Hartford, CT) and Navigators Insurance Company (New York, NY), collectively known as the Hartford Insurance Group. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of all companies and their ratings.)

The ratings of the Hartford Insurance Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.

The group’s balance sheet assessment continues to be anchored by its strongest risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). Additionally, The Hartford’s financial leverage has shown a well-managed trend over the last five years. The organization maintains significant financial flexibility through access to its $750 million five-year revolving credit facility, as well as its membership with Federal Home Loan Bank of Boston. The Hartford maintains a durable investment portfolio, which is highly rated and well diversified. In addition, it has a strong track record of generating good net cash flows and maintaining more than adequate overall liquidity to support its business needs.

The Hartford Insurance Group’s consistent operating performance has been trending positively in recent years due to the strength of its brand and reputation, as well as its diversified distribution and products across its various segments. Operating metrics continue to be in line with, or have exceeded, its peers and similarly rated companies in recent years. The Hartford has continued to report premium growth in its core property/casualty lines of business, reflecting sales growth and pricing actions in certain lines of business. Separately, the employee benefits segment continues to provide a steady stream of income driven by growth in fully insured ongoing premium, as well as excellent life and solid disability results.

The FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) have been affirmed, with stable outlooks for the following subsidiaries of The Hartford Insurance Group, Inc.:

The following Long-Term IRs have been affirmed with stable outlooks:

The Hartford Insurance Group, Inc. —

The following indicative Long-Term IRs on securities available under the shelf registration have been affirmed with stable outlooks:

The Hartford Insurance Group, Inc.—

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.