Firefighters work to contain wildfires near Eaton Canyon in California on Thursday, January 9, 2025. Photo: Amanda Bronstad/ALM.

Allstate’s predicted $1.1 billion in losses related to the LA County wildfires reflects a comprehensive reinsurance program and a company decision to reduce market share beginning in 2007, the insurer said in a recent earnings statement.

The carrier also reported $16.5 billion in total revenues for the fourth quarter of 2024 to notch an 11.3% increase from prior year quarter, and $64.1 billion in total revenues for the year to notch a 12.3% increase from 2023.

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Joe Toppe

Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.

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