CAPE TOWN (Reuters) - Caster Semenya, the world 800 meters women's champion, announced her competitive return on Tuesday despite the world governing body's (IAAF) insistence she must wait for the outcome of gender verification tests.

The 19-year-old South African said the International Association of Athletics Federations' investigation had dragged on too long following her suspension after her surprise world championship win last August in Berlin.

"The result is that my athletic capabilities and earning potential are being severely compromised," she said in a statement.

"I am an athlete first and foremost and it is vital for my competitiveness, my well being and for my preparations for events during the European summer that I measure my performance against other athletes.

"I hereby publicly announce my return to athletics competitions."

(Writing by Jon Bramley in London; Editing by Ken Ferris)