<TABLE> <S> <C>

<PAGE>

<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MUTUAL RISK
MANAGEMENT LTD.'S FINANCIAL STATEMENTS AS OF JUNE 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
       
<S>                             <C>
<PERIOD-TYPE>                            6-MOS               
<FISCAL-YEAR-END>                         DEC-31-1998        
<PERIOD-START>                            JAN-01-1998        
<PERIOD-END>                              JUN-30-1998        
<EXCHANGE-RATE>                                     1        
<DEBT-HELD-FOR-SALE>                          393,671        
<DEBT-CARRYING-VALUE>                               0        
<DEBT-MARKET-VALUE>                                 0        
<EQUITIES>                                          0        
<MORTGAGE>                                          0        
<REAL-ESTATE>                                       0        
<TOTAL-INVEST>                                393,671        
<CASH>                                         71,067        
<RECOVER-REINSURE>                            717,409        
<DEFERRED-ACQUISITION>                         26,541        
<TOTAL-ASSETS>                              2,429,666        
<POLICY-LOSSES>                               804,817        
<UNEARNED-PREMIUMS>                           240,845        
<POLICY-OTHER>                                      0        
<POLICY-HOLDER-FUNDS>                          43,420        
<NOTES-PAYABLE>                               126,186        
<PREFERRED-MANDATORY>                               0        
<PREFERRED>                                         0        
<COMMON>                                          397        
<OTHER-SE>                                    301,735        
<TOTAL-LIABILITY-AND-EQUITY>                2,429,666        
<PREMIUMS>                                     49,806        
<INVESTMENT-INCOME>                            15,009        
<INVESTMENT-GAINS>                             (1,157)       
<OTHER-INCOME>                                     43        
<BENEFITS>                                     33,877        
<UNDERWRITING-AMORTIZATION>                    16,892        
<UNDERWRITING-OTHER>                           43,918        
<INCOME-PRETAX>                                33,372        
<INCOME-TAX>                                    4,304        
<INCOME-CONTINUING>                            29,068        
<DISCONTINUED>                                      0        
<EXTRAORDINARY>                                     0        
<CHANGES>                                           0        
<NET-INCOME>                                   29,068        
<EPS-PRIMARY>                                    0.75        
<EPS-DILUTED>                                    0.67        
<RESERVE-OPEN>                                      0        
<PROVISION-CURRENT>                                 0        
<PROVISION-PRIOR>                                   0        
<PAYMENTS-CURRENT>                                  0        
<PAYMENTS-PRIOR>                                    0        
<RESERVE-CLOSE>                                     0        
<CUMULATIVE-DEFICIENCY>                             0         
 
        


</TABLE>