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However, its net losses from the fires will be closer to $600 million after reinsurance payments, which largely will come from its parent company.

However, it has said its net losses from the fires will be closer to $600 million after reinsurance payments largely from its parent.

The company has estimated the Pacific Palisades, Eaton and other fires on Jan. 7 will cost it more than $7 billion, though with reinsurance its net losses will be closer to $600 million.

That reinsurance will lower the losses State Farm General must absorb to $212 million.

They include allowing insurers to charge their California policyholders for the costs of reinsurance, which is acquired from other insurers to limit potential damage costs after a catastrophic event such as the L.A. fires.