Analysts are evaluating the financial impact of the wildfires that have charred hillsides, homes and streets in Los Angeles County, with initial estimates from AccuWeather suggesting total economic losses could reach as high as $150 billion.

Wildfires that have ravaged swaths of Los Angeles could result in losses of as much as $30 billion for the insurance industry as the blazes rage on almost a week after they ignited. The new estimates from Wells Fargo & Co.

The wildfires in Los Angeles are expected to result in billions of dollars worth of insurance losses, according to credit ratings agency Moody's.