- HIG's insurance subsidiaries entered a Reinsurance Commutation and Release Agreement with NICO on September 23, 2026.
- The agreement commutes and terminates the Aggregate Excess of Loss Reinsurance Agreement that has been in place since 2016 covering asbestos and environmental adverse development.
- Hartford received $1.12 billion in cash on September 25, 2026.
- Expects a before-tax net gain of $497 million, net income increase of $393 million, and no impact on core earnings for the three and nine months ending September 30, 2026.
- The commutation also resolves a confidential arbitration between the parties.
- HIG terminated its legacy aggregate excess-of-loss reinsurance agreement with Berkshire's NICO, receiving $1.12 billion in cash and settling a related arbitration. The transaction releases both parties from all liabilities under the reinsurance contract.
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