Allstate Corp. expects net pretax catastrophe losses of $1.07 billion from the January wildfires in Los Angeles, according to a report from AM Best.
The estimate includes Allstate’s share of the California FAIR Plan’s $1 billion assessment and $1.4 billion in anticipated reinsurance recoveries, the company said.
The company reported about $1.08 billion in net pretax catastrophe losses for January. The number of Allstate Protection policies in force declined 0.5% last month to 37.4 million, compared with a year earlier. Growth in homeowners and other personal lines policies was offset by a decline in automobile and commercial lines policies.
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