Randall & Quilter, which acquired the Quest captive management group in January, is reported to be acquiring the Woolworths Group captive insurance company, Woolworths Insurance (Guernsey).

Randall and Quilter CEO Ken Randall, quoted in The Insurance Insider, said the acquisition of the Willis-managed captive is “relatively small, with acquired assets of approximately £1.2m and reserves of £7.5m”.

According to the Insider report, the Woolworths captive has been in run-off since the parent went into administration in November last year.