This amounts to an increase of 18 per cent over the $14.38 million (£11.4 million/€13.4 million) the IOC paid for similar protection for the previous Summer Olympics in Rio de Janeiro in 2016.

This was a much smaller quadrennium-on-quadrennium jump than the Lausanne-based body faced for insuring the Winter Games.

Whereas the premium paid to cover for the Sochi Winter Games in Russia in 2014 was $7.565 million (£6 million/€7 million), the rate paid for coverage for Pyeongchang 2018 leapt by 69 per cent to $12.8 million (£10.15 million/€11.9 million).

The build-up to the 2018 event coincided with a period of heightened geopolitical tensions in and around the Korean peninsula.

The Tokyo fee brings to just under $30 million (£23.8 million/€28 million), the sum spent by the IOC on cancellation insurance during the COVID-impacted 2017-2021 Olympic cycle.

This represented an increase of more than 35 per cent from 2013-2016.

The figure for Tokyo is included in the IOC’s newly-published 2021 financial accounts.

This is probably the last time for the foreseeable future that the IOC’s cancellation insurance costs will be disclosed in this manner.

The German insurance giant Allianz has joined The Olympic Partner (TOP) worldwide sponsorship programme as worldwide insurance partner.

This means, presumably, that it will provide Games cancellation insurance as a form of value-in-kind.

In spite of a lot of discussion at the height of the pandemic over whether the IOC might have received an insurance pay-out as a consequence of the one-year postponement of Tokyo 2020, there seems nothing obvious in the new accounts to suggest that such a payment was received.