The two biggest blazes that recently ravaged the Los Angeles metropolitan region may have caused property damage and capital losses of up to $164 billion, new research has determined.

Insured losses, meanwhile, likely made up around $75 billion of that total, according to the report, issued by economists at the University of California, Los Angeles (UCLA) Anderson School of Management.

The economists also predicted a 0.48 percent loss in county-level gross domestic product for 2025, or about $4.6 billion, and a total wage loss of $297 million for local businesses in the affected areas.

Although both blazes are now 100 percent contained,

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