<ARTICLE> 7 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MUTUAL RISK MANAGEMENT LTD.'S FINANCIAL STATEMENTS AS OF DECEMBER 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <CIK> 0000826918 <NAME> MUTUAL RISK MANAGEMENT LTD. <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> DEC-31-1998 <EXCHANGE-RATE> 1 <DEBT-HELD-FOR-SALE> 460,624 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 0 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 460,624 <CASH> 114,800 <RECOVER-REINSURE> 1,079,563 <DEFERRED-ACQUISITION> 27,215 <TOTAL-ASSETS> 3,041,481 <POLICY-LOSSES> 1,190,426 <UNEARNED-PREMIUMS> 241,893 <POLICY-OTHER> 79,753 <POLICY-HOLDER-FUNDS> 37,448 <NOTES-PAYABLE> 127,330 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 411 <OTHER-SE> 341,263 <TOTAL-LIABILITY-AND-EQUITY> 3,041,481 <PREMIUMS> 101,913 <INVESTMENT-INCOME> 29,467 <INVESTMENT-GAINS> (1,003) <OTHER-INCOME> 149,019 <BENEFITS> 78,258 <UNDERWRITING-AMORTIZATION> 26,061 <UNDERWRITING-OTHER> 103,032 <INCOME-PRETAX> 72,045 <INCOME-TAX> 8,506 <INCOME-CONTINUING> 63,539 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 63,632 <EPS-PRIMARY> 1.58 <EPS-DILUTED> 1.43 <RESERVE-OPEN> 85,764 <PROVISION-CURRENT> 74,476 <PROVISION-PRIOR> 3,782 <PAYMENTS-CURRENT> 15,039 <PAYMENTS-PRIOR> 38,119 <RESERVE-CLOSE> 110,864 <CUMULATIVE-DEFICIENCY> 0