Schedule V Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule V Valuation and Qualifying Accounts

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

SCHEDULE V

VALUATION AND QUALIFYING ACCOUNTS

(in millions)


	Balance January 1, [1]		Increase (decrease) in Costs and Expenses		Write-offs/ Payments/ Other		Balance December 31,
2020
Allowance for credit losses ("ACL") on fixed maturities, available-for-sale			$	30	$	(7)	$	23
ACL on mortgage loans	$	19	$	19	$	—	$	38
ACL on premiums receivable and agents' balances	$	122	$	74	$	(44)	$	152
Allowance for uncollectible reinsurance	$	116	$	4	$	(12)	$	108
Valuation allowance for deferred taxes	$	4	$	9	$	(9)	$	4
2019
ACL on mortgage loans	$	1	$	(1)	$	—	$	—
ACL on premiums receivable and agents' balances	$	135	$	42	$	(32)	$	145
Allowance for uncollectible reinsurance	$	126	$	2	$	(14)	$	114
Valuation allowance for deferred taxes	$	—	$	—	$	4	$	4
2018
ACL on mortgage loans	$	1	$	—	$	—	$	1
ACL on premiums receivable and agents' balances	$	132	$	40	$	(37)	$	135
Allowance for uncollectible reinsurance	$	104	$	3	$	19	$	126
Valuation allowance for deferred taxes	$	—	$	—	$	—	$	—

[1] The balance as of January 1, 2020 reflects a cumulative effect adjustments recorded to retained earnings of $19, ($23), and $2, for the ACL on mortgage loans, ACL on premiums receivable and agents' balances, and the allowance for uncollectible reinsurance, respectively. For more information see Note 1 - Basis of Presentation and Significant Accounting Policies.