INSURANCE

State Farm Raises Estimate of Quake Losses: State Farm Mutual Automobile Co., the nation’s largest property and casualty insurer, raised to $1.27 billion its estimated losses from the Northridge earthquake. The expected pretax losses are 27% higher than the estimate of $1 billion made March 25. On Feb. 8, the company’s initial loss estimate was put at $600 million. “The new estimate is based on our most current data,” said Roger Lehman, State Farm’s vice president. “Further revisions are possible, but we should be getting close to the final figure.” The company, headquartered in Bloomington, Ill., based the most recent estimate on more than 105,000 claims for earthquake damage totaling almost $890 million. At the time of the $1 billion estimate in March, the company had received 100,000 claims and expected a total of 103,000.