Eaton Newsroom

Institutions predict that the total losses from the Los Angeles wildfires may exceed 250 billion dollars, with insurance losses potentially reaching 30 billion dollars.

Wildfires in the Los Angeles area of the United States have been raging for nearly a week, and according to the latest estimates from Wells Fargo & Co, this could result in losses of up to 30 billion dollars for the Insurance industry, far exceeding the approximately 20 billion dollars in losses predicted by JPMorgan last week. According to a report by Wells Fargo & Co to clients over the weekend, homeowners' insurance companies will bear the brunt of the costs, with Allstate, Chubb, American International Group, and Travelers Cos among the companies tracked by Wells Fargo & Co having the largest exposure. Analysts state that the insurance company with the greatest untracked exposure is Wells Fargo & Co.

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