Kent insurance tycoon Peter Cullum, pictured above left, was invited to meet Sir Richard Branson at his home as his firm was presented with an award for best management team of the year.

The Sunday Times Fast Track Award was presented to Mr Cullum for the pace of growth at which Maidstone-based Towergate has increased sales – 80 per cent a year over three years.

The awards ceremony was hosted at the Virgin magnate’s home in Oxfordshire.

Mr Cullum, said to be worth £1.7 billion, said: "To be recognised by leading figures within the financial world and peers is extremely satisfying and reaffirms our position as a leading player within the insurance world."

Towergate has also been named as 2008 UK Private Company of the Year by readers of ACQ Finance, a corporate finance trade magazine.