The wildfires that broke out this week in Los Angeles County are still raging and are expected to be among the costliest natural disasters in U.S. history.

The devastating fires have killed at least 16 people and burned more than 12,000 buildings since Tuesday, destroying entire neighborhoods that were home to properties worth millions of dollars.

Although it is too early to provide an accurate tally of the financial losses, estimates indicate that the losses so far make these fires among the costliest in the history of the United States.

A preliminary estimate from AccuWeather indicated that the economic damage and losses so far range between $135 billion and $150 billion.

For comparison, AccuWeather estimated the damage and economic losses caused by Hurricane Helen, which struck six southeastern states last fall, at $225 billion to $250 billion.

Wildfires in Los Angeles County, fanned by strong Santa Ana winds and extreme drought, remained largely out of control on Saturday.

This means that the final toll of fire losses is likely to increase, perhaps significantly.

Shares of American insurance companies fell on Friday, after analysts estimated that the insured losses resulting from the forest fires in Los Angeles could reach $20 billion.