Allstate Corp. said it expects about $1.1 billion of losses from the wildfires that ravaged swaths of Los Angeles last month. The anticipated cost partly reflects the Northbrook-based insurer's decision to reduce market share beginning in 2007, the insurer said in a statement Wednesday, when it reported fourth-quarter results.

The star-studded FireAid benefit concerts brought in more than $100 million for immediate relief efforts and long-term needs in Los Angeles, according to estimates from organizers on Tuesday. More than 50 million viewers watched the shows across 28 streaming platforms,