Real estate agents in New York Dolly and Jenny Lenz talked about the wildlife in Los Angeles and the influence they will have on the local market market on ‘Fox Business Live’.
Allstate said the fires that flew through southern California would bring a significant loss last month last month.
Executive Director Tom Wilson said on Wednesday that the wildlife losses “expected about $ 1.1 billion, before taxation, net reinsure, reflecting the decision to reduce the market share since 2007 and the comprehensive reinsurance program.”
The expected loss of allstate from wild fires in Los Angeles was published in the Edition in the fourth quarter of the insurance company.
The sign was shown at the entrance to the Brokered Power Office of Allstate on February 7, 2024 in Chicago, Illinois. Allstate Corp. Today he reported about earnings in the fourth quarter that exceeded the expectations on Wall Street. (Photo Scott Olson/Getty Images) (Scott Olson / Getty Images / Getty Images)
The share of the company in House owner market in California At the end of 2023, it was 5.8%, which is a drop significantly than 12.6% 15 years ago, according to Allstate.
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Allstate Property President Mario Rizzo said during the call of the company that he “responded quickly and empathetic to help customers and communities after tragic fires in southern California.”
More wild fires devastated parts Los Angeles area Last month killing over two dozen people. One of the flashes, palisades, fallen, passed 23,700 acres and crashed over 6,800 buildings.
View of damaged structures and homes caused by fires in the neighborhood of Pacific Palisades in Los Angeles 11 January 2025 in Los Angeles, California. (Axelle/Bauer-Giffin/GC Pictures/Getty Pictures)
A view of the property of the beach with fires overlooking the Pacific Ocean, which burned as a result of the Palisades fire on January 12, 2025 in Malibuo, California. (Frederic J. Brown / AFP via Getty Images / Getty Images)
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“We used mobile devices centers and over 900 team members to help customers. Help our customers to recover from the fire is our main priority,” Rizzo said. “The financial impact of wild fires reflects a comprehensive approach to risk and return we have taken to manage the insurance jobs of homeowners.”
An estimated $ 1.1 billion loss will appear in the company’s earnings in the first quarter.
| Dice | Security | Last | Change | Change % |
|---|---|---|---|---|
| ALL | Allstate Corp. | 190.24 | -1.64 |
-0.85% |
Rizzo said that Allstate “He would continue to monitor the development of this event and update later in February.
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In the fourth quarter, the company generated $ 64.1 billion in 2024, including $ 16.6 billion. His custom annual net income was $ 4.9 billion.
Since Friday, Allstate shares have been about straight from the beginning of 2025. In the last 12 months, they have recorded an increase of 20%.
