Taking into account his health (he apparently has Type 2 diabetes from all the mince pies), age and the content value of his sleigh, Santa’s travel insurance premium has set him back more than £800,000, according to Staysure.

How did they get to this figure?

Well, the insurer calculated Santa will visit roughly 2.2 billion children in the world, so will eat over two billion mince pies and drink two billion glasses of sherry. This equates to 570,000,000,000 calories, based on the average mince pie containing 217 calories and glass of sherry containing 68 calories, so risk of health issues means a sky-high premium.

They also calculated that Santa will be travelling at a speed of 42,500,000 mph to deliver all his presents and travelling the whole world, which has a surface area of 510.1 million square miles. Travelling at such speeds and for such a long distance carries a very high-risk factor.

There’s also the contents of his sleigh to think about.  If Santa were to give every child in the world a present, he will be carrying 2,200,000,000 presents at an average value of £10, making the total value of his sleigh £22,000,000,000.

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Julian Kearney, CEO of Staysure said: “It does cost a bit more than the average adventurer, however Santa has a very unique lifestyle and job which significantly increased his insurance quote. However that won’t deter us from insuring him, we pride ourselves on insuring the over 50’s no matter their lifestyle, age or occupation, everyone should be able to get good quality cover.”