Non-standard commercial lines specialist Tower Insurance Brokers has secured a multi-million-pound funding facility from investor TDC, which will be used to accelerate further growth. Tim Forshaw founded Tower in 2017. It now controls gross written premium of almost £40m.

Tower has a focus on sectors including construction, large property developers and landlords, hospitality venues and family entertainment centres.

Tim Forshaw, CEO at Tower Insurance Brokers, said: “When we met TDC, it was clear we were culturally aligned. They understood our business immediately and saw the potential investment could unlock for us. Now, with the investment in place, we’re entering a new stage for the business as we go on the acquisition trail and look to bring in senior talent. If the last few years are anything to go by, the next few promise to be even better.”

Jon Petty, investment director at TDC, added: “Tower is an exceptional example of a founder-led business that has identified a market gap and built a high-growth company around deep specialist knowledge. We are excited about partnering with Tim and the team in the next phase of their growth.”