Tower Insurance Brokers secures major growth funding from TDC to accelerate expansion and transform niche-risk insurance market

The deal follows a period of exceptional organic growth for Tower. Founded in 2017 by Tim Forshaw, who left global broker Gallagher to build the business from the ground up, Tower has expanded from a one-man operation in a small Lytham office into a Top 100 broker. In under a decade, Tower has grown significantly to nearly £40 million GWP – all achieved organically and without taking on external investment.

From the outset, Tower has focused on transforming the UK’s approach to non-standard risks. After gaining regulatory approval in 2017, the team spent its early years cold-calling, knocking on doors and winning new business from scratch while researching gaps in the market overlooked by traditional brokers.

That market insight shaped Tower’s specialisms: construction, large property developers and landlords, hospitality venues, family entertainment centres and other sectors where longstanding underwriting bias has historically limited choice and fair pricing. Tower has since built robust datasets and industry-led programmes that more accurately reflect the genuine risk profile of these sectors, giving operators fit for purpose insurance solutions.

Tower has also expanded its national footprint in recent years, with teams across the North and South regions to support its growing client base.

Now, with funding from TDC’s Impact Fund, Tower is looking to bolster its position in the market as it eyes potential acquisitions, bringing in more niche capabilities to its growing network. The investment will also help to invest in senior talent with new skills and capabilities.

Tim Forshaw, CEO at Tower Insurance Brokers, said: “From day one, our mission has been to challenge outdated underwriting assumptions and give niche industries the insurance solutions they deserve. In just eight years, we’ve done exactly that, establishing ourselves in what is a crowded market while achieving exponential growth. Having done this largely by ourselves until now, we recognised the need to bring in additional investment to continue delivering on this growth.

“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.”

“This is exactly what our Impact Fund was designed for, supporting high growth Northern businesses to scale, creating jobs and boost the regional economy.”