Summary
The Hartford Insurance Group, Inc. (HIG) has announced the execution of a Second Amended and Restated Credit Agreement, effective September 24, 2025. This agreement establishes a new revolving credit facility with a total committed amount of up to $750 million, which can be further expanded by an additional $500 million under certain conditions. This facility includes a $100 million sublimit for outstanding letters of credit. This updated credit agreement, set to expire on September 24, 2030, provides The Hartford with financial flexibility for general corporate purposes. Key covenants include maintaining a minimum consolidated net worth of $12.7 billion and a debt-to-capitalization ratio not exceeding 35%. The agreement also outlines standard representations, warranties, and covenants customary for such financial arrangements, along with provisions for events of default.
Key Highlights
- 1The Hartford has entered into a Second Amended and Restated Credit Agreement, establishing a $750 million revolving credit facility.
- 2The facility allows for potential increases of up to an additional $500 million from electing lenders.
- 3A $100 million sublimit is in place for outstanding letters of credit.
- 4The credit agreement has a maturity date of September 24, 2030.
- 5Borrowings under the agreement are permitted for general corporate purposes.
- 6Key financial covenants require a minimum consolidated net worth of $12.7 billion and a debt-to-total capitalization ratio capped at 35%.
- 7The agreement includes customary covenants limiting certain actions such as incurring liens or engaging in mergers, subject to exceptions.