By Jonathan Davies

The rising popularity of cycling among middle-aged men has resulted in a huge boost for the cycling insurance industry.

'Mamils' - middle-aged men in lycra - have helped drive a 75% rise in the number of cycling insurance policies taken out between 2009 and 2015, according to Aviva.

The insurance giant said the largest spike came after London 2012 Olympics. Aviva said there were around 29,000 insurance policies in the UK in 2009. That figure increased to 33,000 in 2011 and following the success of Team GB at the Olympics, it shot up to 39,500.

Aviva now says there are 51,000 policies in the UK. There was a big spike last year, particularly in the Yorkshire area, where the Grand Depart of the Tour de France was hosted.

Estimates suggest that 376,000 bikes are stolen every year in the UK. And with Mamils spending hundreds, sometimes thousands, of pounds on bikes and equipment, the need for insurance is growing.

Market research firm Mintel says the average person spends £233 on buying a bike.