Southern California Edison (SCE), a subsidiary of Edison International , said on Thursday that it was probing whether its equipment was associated with the ignition of two Los Angeles-area wildfires this year.

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

It's estimated the damage from the Southern California wildfires will cost up to $45 billion to remedy. That's according to two analytic firms, Verisk and CoreLogic, which calculated property losses covered by insurance in the Palisades and Eaton fires.

Allstate Corp. said it expects about $1.1 billion in losses from the wildfires that destroyed Los Angeles County communities in January.