LONDON, January 9. /TASS/. Losses of insurers from wildfires in California may total $20 bln against the total damage of $50 bln, The Financial Times said, citing a report from JPMorgan.

Anticipated insured losses were doubled from the $10 bln estimated a day earlier in the letter sent by the bank to its clients. Limited progress on containment and the spread to neighboring areas were indicated as the reasons.

"Expectations of economic losses stemming from the fires have more than doubled since yesterday to closer to $50 billion, and we estimate that insured losses from the event could exceed $20 billion (and even more if the fires are not controlled)," JPMorgan said, cited by the news outlet.

The total area of wildfires in Los Angeles County has reached almost 11,000 hectares, California’s Department of Forestry and Fire Protection reported. More than 1,000 structures were destroyed.