Millions of dollars have been raised for victims of the wildfires, including the superstar-riddled FireAid concert, but where is all the money going?

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.

Fires in the Los Angeles area may result in claims of between 500 million euros ($518.95 million) and 700 million euros for the reinsurer Hannover Re , the company's chief executive Jean-Jacques Henchoz said on Thursday.