Automobiles — Prior accident year development [1]
The Hartford Financial Services Group Automobiles — Prior accident year development [1] increased by 25.0% to -$15.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 25.0%, from -$12.00M to -$15.00M. Over 4 years (FY 2021 to FY 2025), Automobiles — Prior accident year development [1] shows relatively stable performance with a -1.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
Negative development (a reduction in reserves) is favorable as it indicates previous reserves were redundant; positive development suggests under-reserving in prior periods.
Detailed definition
This represents the change in estimated ultimate losses for claims that occurred in previous accident years. It reflects...
Peer comparison
Commonly reported as 'Prior Year Reserve Development' in actuarial disclosures for P&C insurers.
hig_segment_automobiles_prior_accident_year_development_1Historical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | -$20.00M | -$21.00M | -$17.00M | -$5.00M | $12.00M | $2.00M | $15.00M | $0.00 | $6.00M | $0.00 | $14.00M | $0.00 | -$3.00M | $16.00M | $4.00M | -$12.00M | -$10.00M | -$33.00M | -$20.00M | -$15.00M |
| QoQ Change | — | -5.0% | +19.0% | +70.6% | +340.0% | -83.3% | +650.0% | -100.0% | — | -100.0% | — | -100.0% | — | +633.3% | -75.0% | -400.0% | +16.7% | -230.0% | +39.4% | +25.0% |
| YoY Change | — | — | — | — | +160.0% | +109.5% | +188.2% | +100.0% | -50.0% | -100.0% | -6.7% | — | -150.0% | — | -71.4% | — | -233.3% | -306.3% | -600.0% | -25.0% |
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Frequently Asked Questions
- What is The Hartford Financial Services Group's automobiles — prior accident year development [1]?
- The Hartford Financial Services Group (HIG) reported automobiles — prior accident year development [1] of -$15.00M in Q1 2026.
- How has The Hartford Financial Services Group's automobiles — prior accident year development [1] changed year-over-year?
- The Hartford Financial Services Group's automobiles — prior accident year development [1] decreased by 25.0% year-over-year, from -$12.00M to -$15.00M.
- What is the long-term trend for The Hartford Financial Services Group's automobiles — prior accident year development [1]?
- Over 4 years (2021 to 2025), The Hartford Financial Services Group's automobiles — prior accident year development [1] has grown at a -1.9% compound annual growth rate (CAGR), from -$81.00M to -$75.00M.
- What does automobiles — prior accident year development [1] mean?
- The adjustment to previous loss estimates based on new information or claim settlement experience.