The deal is believed to be worth around DKK40 million (£4.2 million/$7 million/€5.3 million) and some of the funds have already been earmarked for a High Performance Centre just outside the Danish Olympic Village in Copenhagen.

"The money goes a long way," said DIF President Niels Nygaard.

"We make a High Performance Centre, where we can have people kayaking [among other sports].

"Here, there must be physical therapists and trainers who would otherwise not fit into the Olympic camp."

Nygaard claimed it is imperative for Danish elite sport to find additional funds if Denmark is to keep up with increasing international competition.

"We are very pleased that Købstædernes Insurance [shares] values ​​of sport and the athletes' winning culture by entering into an Olympic partnership, two years before the Olympics," he said.

"We now have the opportunity to support the Danish athletes even better, so we can achieve our shared ambition of 10 medals at the Olympics in Rio and Danish participation [in] sports.

"It is only if we have ambitious commercial partners in the back that we can afford [to do that] and thus the opportunity to go to achieve the best Danish Olympic result ever in the intensifying global competition.

"And with good Danish results follows enthusiasm and community in the Danish population."

Rikke Møller Pedersen benefitted from funding support from Købstædernes Insurance in the build-up to London 2012 ©Getty Images

Denmark's best performance at an Olympic Games came at the 1948 Games in London when it won 20 medals, including five gold.

At London 2012, it claimed nine medals, including two gold, four silver and three bronze.

One of those gold medal winners was Lasse Norman Hansen who took the men's omnium title in London, and both he and swimmer Rikke Møller Pedersen were supported by Købstædernes in the build-up to the Games.

Denamrk's other gold came in the form of rowers Rasmus Quist and Mads Rasmussen in the men's lightweight double sculls.

While Pedersen did not medal in London, she has since gone on to win World Championship silver and European gold.

"The dedication, willpower, preparation and ability to deliver results characterise the Danish elite athletes and [their] values," said Steen B. Jørgensen, chief executive of Købstædernes Insurance, which claims to be Denmark's oldest insurance company.

"We can identify with and make further use of [this] through the Olympic partnership.

"At Købstædernes Insurance we provide, just like athletes, all we can and just a bit to for our customers."

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