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Debt | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Debt | 13. DEBT Shelf Registrations On September 23, 2024, the Company filed with the Securities and Exchange Commission an automatic shelf registration statement (Registration No. 333-282288) for the potential offering and sale of debt and equity securities. The registration statement allows for the following types of securities to be offered: debt securities, junior subordinated debt securities, guarantees, preferred stock, common stock, depositary shares, warrants, stock purchase contracts, and stock purchase units. Because The Hartford is a well-known seasoned issuer, as defined in Rule 405 under the Securities Act of 1933, the registration statement became effective immediately upon filing and The Hartford may offer and sell an unlimited amount of securities under the registration statement during the three-year life of the registration statement. Lloyd's Letter of Credit Facility On October 21, 2024, The Hartford amended and restated its committed credit facility with a syndicate of lenders (the “Lloyd’s Facility”). The purpose of this facility is to issue letters of credit that may be treated as Funds at Lloyd's to support underwriting capacity provided by the Hartford Corporate Underwriters Limited to the Lloyd’s syndicate 1221 for the 2025 and 2026 underwriting years of account (and prior open years). The amended and restated Lloyd’s Facility has two tranches, with one tranche extending a $74 commitment and the other tranche extending a £79 million ($106 as of September 30, 2024). The term of the facility is two years. As of September 30, 2024, letters of credit with an aggregate face amount of $74 and £73 million, or $98, were outstanding under the Lloyd's Facility. As of December 31, 2023, letters of credit with an aggregate face amount of $74 and £79 million, or $101, were outstanding under the Lloyd's Facility. Among other covenants, the Lloyd's Facility contains financial covenants regarding The Hartford’s consolidated net worth and financial leverage. As of September 30, 2024 and December 31, 2023, The Hartford was in compliance with all financial covenants of the facility.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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