Lopez: I'm no billion dollar babe

Jennifer Lopez: Bemused by news reports

Singer and actress Jennifer Lopez has laughed off reports she has insured her body for $1 billion - around £618m.

Newspapers in the UK and US claimed a New York insurance company had made the deal, insuring different parts of the 29-year-old's body for different amounts.

But she said: "I don't know where they got it from. When I heard the story I thought it was very funny."

The reports claimed her breasts were insured for $200m (£123m), her legs and backside for $300m (£185m) and her hair for $50m (£31m). In terms of body weight, the 54.4 kilogramme performer had reportedly been insured for $18.4m (£11.3m) per kilo.

Lopez is reportedly proud of her figure

Lopez added she had been tempted by the idea when she saw the reports.

She joked: "I thought, 'Why not? What if something happens to me?"

Lopez is reportedly proud of her figure. She was once quoted by the New York Post as saying she "could serve coffee using my rear end as ledge".

When asked if Lopez was the most valuable woman on the planet her agent, Allan Nierob, said: "At this time we cannot confirm or deny this information."

Celebrities insuring the bodies is not a new idea - in 1940 Betty Grable insured her legs for $1m, and Dolly Parton's breasts are insured for $600,000 (£371,000).

In music, Bruce Springsteen's voice is insured for $6m (£3.7m).

1999 has seen Jennifer Lopez conquer the pop charts following Hollywood hits such as Blood And Wine, Selena and Out Of Sight.

High profile couple: With Sean 'Puffy' Combs

Her debut single If You Had My Love went to number one in the US, and her album On The Six has been a worldwide hit. She has been nominated twice for next month's American Music Awards.

Her relationship with rapper Puff Daddy - otherwise known as record mogul Sean "Puffy" Combs - has also put her in the spotlight, with Combs denying the two are engaged to be married.

She is also an investor in a Los Angeles salsa club, The Conga Room.

Despite her success in the recording studio, she is continuing with her film career. Projects lined up for 2000 include thriller The Cell and comedy The Wedding Planner.

She is due to arrive in the UK later this week ahead of Saturday's Record of The Year show on ITV.