Insurance costs are estimated to amount to around 20 billion dollars, equivalent to approximately 223 billion kronor.
The total economic losses, including insured losses, are estimated to be close to 50 billion dollars, which is double the amount from just a day earlier, according to the newspaper.
However, the sum may still grow as the fires continue to rage.
The final bill for a natural disaster is difficult to estimate as long as the event is still unfolding – and therefore the estimates vary, according to the newspaper.
Pressing the market
The American credit rating agency Moody's says that the losses may put significant pressure on California's already fragile home insurance market – and "will likely drive up premiums and may reduce the availability of property insurance".
Several people have died so far in the fires that have been raging around Los Angeles since Tuesday due to very strong winds. By Thursday evening, nearly 2,000 buildings had been destroyed – but tens of thousands of properties are still at risk.
Analysts calculate the potential costs partly by comparing the number and average value of destroyed buildings with previous fires.
Hurricane Katrina the most expensive so far
The most destructive fire so far in the USA, the so-called Camp Fire in California in 2018, caused damages of 12.5 billion dollars, according to the insurance broker Aon.
According to the company, hurricanes and earthquakes are the most expensive natural disasters.
The most expensive one to hit the USA was Hurricane Katrina in 2005, which resulted in 102 billion dollars in insurance costs. Hurricane Ian in 2022 was the second most expensive, with a cost of 56 billion dollars.
