The entry of new investors like hedge funds into the reinsurance market is likely to keep prices mostly flat when European customers renew policies in January, despite the industry's losses from superstorm Sandy, broker Willis Re said.

Fine art insurers face claims of up to half a billion dollars, their biggest ever payout, to compensate the owners of artwork destroyed when Superstorm Sandy flooded galleries in New York.

Sales this year of new catastrophe bonds have been the second highest since the market began, despite potential losses for investors as a result of superstorm Sandy, Swiss Re said on Thursday.

Sales this year of new catastrophe bonds have been the second highest since the market began, despite potential losses for investors as a result of superstorm Sandy, Swiss Re said on Thursday.

U.S data aggregator Property Claims Service (PCS) is putting insured losses from superstorm Sandy at $11 billion, which currently leaves catastrophe bond investors safe from losses - but experts say the figure is likely to rise.

Expectations that catastrophe bond investors will not lose money as a result of superstorm Sandy have been shaken by an estimate that losses for insurers from the Oct. 30 storm will top $20 billion.

Investors who brought a specialist bond designed to protect Swiss Re from natural disaster claims will not lose money over superstorm Sandy, rating agency Moody's said.

U.S. insurer USAA plans to raise $250 million of protection against natural disasters with the sale of a new catastrophe bond, despite the threat of a payout on previous such deals following Hurricane Sandy.