The golden Speedo kid.

Away from Team GB’s Great Haul of China, one of the highlights of the Beijing Olympics was Michael Phelps and his record-breaking eight gold medals in the pool. Speedo, the maker of Phelps’ high-tech swimsuit, promised to pay the young American a $1m bonus if he won seven gold medals. The rumour in Lloyd’s was that several insurers were trying to put together a policy to cover the firm’s payout. Let’s just hope Speedo struck a deal and hasn’t found itself in the financial deep end.