Royal & SunAlliance and Munich Re have been appointed lead insurers for the 2012 London Olympic Games. Together they will provide about half the construction and public liability cover.

Thirteen other co-insurers will provide cover, including Ace Europe, Norwich Union, Munich American Risk Partners, Tokio Marine Global, Scor, DA Constable, QBE, Brit Insurance, Lloyd's Syndicate 2525, CNA, Mitsui Sumitomo Insurance Underwriting at Lloyd's, Allied World Assurance and AIG Excess Liability International.

Broker Jardine Lloyd Thompson arranged the cover for the Olympic Delivery Authority.

The cost of staging the 2012 Olympics has almost quadrupled to more than £9 billion ($20 billion) from the initial estimate of £2.35 billion ($5.24 billion), due to increased allocations for construction, security and taxation.