Insured losses from the wildfires that have devastated parts of Los Angeles are expected to top $20 billion, which would make them the biggest such losses in California history, surpassing the 2018 wildfires that previously held that record, according to analysts at JPMorgan.

The analysts said their estimated insured losses from the L.A. fires doubled from their calculations just a day earlier as the wildfires worsened, with little progress on containment efforts.