<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MUTUAL RISK
MANAGEMENT LTD.'S FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 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>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               SEP-30-1998
<EXCHANGE-RATE>                                      1
<DEBT-HELD-FOR-SALE>                           487,797
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                           0
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 487,797
<CASH>                                          91,287
<RECOVER-REINSURE>                             758,154
<DEFERRED-ACQUISITION>                          29,315
<TOTAL-ASSETS>                               2,626,053
<POLICY-LOSSES>                                854,169
<UNEARNED-PREMIUMS>                            234,222
<POLICY-OTHER>                                  87,908
<POLICY-HOLDER-FUNDS>                           37,524
<NOTES-PAYABLE>                                128,022
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           408
<OTHER-SE>                                     324,421
<TOTAL-LIABILITY-AND-EQUITY>                 2,626,053
<PREMIUMS>                                      73,993
<INVESTMENT-INCOME>                             21,712
<INVESTMENT-GAINS>                             (1,099)
<OTHER-INCOME>                                 109,847
<BENEFITS>                                      51,637
<UNDERWRITING-AMORTIZATION>                     24,042
<UNDERWRITING-OTHER>                            75,442
<INCOME-PRETAX>                                 53,332
<INCOME-TAX>                                     6,553
<INCOME-CONTINUING>                             46,778
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    46,821
<EPS-PRIMARY>                                     1.17
<EPS-DILUTED>                                     1.05
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0