New York city real estate agents Dolly and Jenny Lenz Los Angeles discuss wildfires and will affect the local housing market on ‘Fox Business Live’.
Allstt said that last month, a wildfire insurance company that burns through Southern California will cause a large -scale damage.
CEO Tom Wilson said in a statement on Wednesday that the damage related to the wildfire is expected to be a network of about $ 1.1 billion, pre-tax, reinforce It reflects.”
The expected loss of the allstate from the Los Angeles-sector wildfire was released in the fourth quarter earnings of the insurance company.
On February 7, 2024, an indication has been shown at the entrance of an allstate brokerage office in Chicago, Illinois. Allstt Corp today reported the fourth quarter earnings which was higher than the expectations of Wall Street. (Photo by Scott Olson/Getty Image) (Scott Olson / Getty Image / Getty Images)
Part of the company California homeowner market According to Allstate, at 5.8%, at the end of 2023, it was significantly below 12.6%.
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Maraio Rizo, president of Allstt Property Liability, said during the company’s earnings that “he had” quickly and sympathetically responded to help customers and communities after the tragic wildfire in Southern California. “
Many parts of many forest fire were destroyed Los Angeles Area Last month, more than two dozen people were killed. One of the blazes, the pelisads fire, scorched through 23,700 acres and surprised more than 6,800 structures.
Los Angeles, visible structures and houses due to wildfires in the Pacific Palisades of Los Angeles on January 11, 2025 in California. (Excel/Bauur-Giffin/GC Images/Getty Images)
A view of the wealth of the fire beach with a view of the Pacific Ocean, which was burnt as a result of the fire of Palisads in Malibu, California on 12 January 2025. (Frederick J. Brown / AFP Getty Image / Getty Image)
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“We deployed mobile claim centers and more than 900 team members to help customers. It is our main priority to help our customers overcome fire,” Rizo said. “The financial impact of the wildfire reflects a comprehensive risk and withdrawal approach that we have taken to manage the insurance business of the owners of the house.”
An estimated $ 1.1 billion loss will appear in the company’s first quarter earnings.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| All | Allstate Corp. | 190.24 | -1.64 |
-0.85% |
Rizo said that Allstate “Will continue to monitor the development of the event and will give an update later in February.
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The company produced $ 64.1 billion in 2024, including $ 16.6 billion in the fourth quarter. Its adjusted annual net income came in $ 4.9 billion.
Till Friday, Allstt shares were almost flat from the beginning of 2025. In the last 12 months, he has registered an increase of more than 20%.
