U.S. property and casualty insurance stocks fell in premarket trading on Friday after wildfires menacing Los Angeles killed at least 10 people and devoured nearly 10,000 structures, with five fires burning into a third night.

A new wildfire was reported today at 2:03 a.m. in Los Angeles County. The wildfire has been burning on private land. Currently, there is no information on the containment of the fire and the cause of it has yet to be determined.

Fierce wildfires are raging in the Los Angeles area, with fast-moving flames burning through homes and businesses. Residents are fleeing smoke-filled canyons.

Here's what Hollywood's stars have said and shared on social media about the devastating wildfires ravaging Southern California in January 2025.

The potential cost for insurers of the devastation caus Los Angeles wildfires is now expected to surpass $20 billion, according to analysts at JPMorgan Chase & Co., doubling their estimate from just a day before.

Two massive wildfires menacing Los Angeles from the east and west were still burning uncontained on Thursday, but a brief respite from the fierce winds that have fanned the flames for two days allowed crews to slow their explosive spread.

With flames driven by hurricane-force winds, “it feels like Armageddon,” said one woman who was forced to evacuate. “It’s just smoke and darkness.”