An unnamed German reinsurer has underwritten Tesco's new motor and home insurance promotion - £50 cash back if England wins the World Cup this year.

Tesco Personal Finance insurance manager Paul Baxter said the Germans approached Tesco with the cheapest quote by far when the risk was put on the market.

Tesco has made the offer to every online buyer of motor and home insurance between 22 April and 31 May 2002.

"They were very quick to contact us, which shows what they think of our chances," Baxter said