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The Hartford receives $1.12B cash payment to terminate reinsurance agreement with Berkshire Hathaway subsidiary
HIG-PGHartford Insurance Group, Inc.
The Hartford Insurance Group announced the commutation of its Aggregate Excess of Loss Reinsurance Agreement with National Indemnity Company, a subsidiary of Berkshire Hathaway, resolving an existing dispute. On September 25, 2026, The Hartford received a cash payment of $1.12 billion to terminate the agreement and release associated liabilities. As a result, the company expects to recognize a before-tax net gain of $497 million and an increase in net income of $393 million for the periods ended September 30, 2026, with no impact on core earnings. This transaction resolves confidential arbitration regarding adverse development cover reinsurance provided since December 31, 2016. The Hartford Insurance Group operates in the property and casualty insurance industry.