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.

In the fourth quarter, catastrophe losses took $315 million out of Allstate’s homeowners-insurance business, up from $21 million the year before.