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Hamilton, Bermuda, December 14, 1995.
Mutual Risk announces acquisition of Professional Underwriters Corporation

Mutual Risk Management Ltd. (NYSE:MM) today announced that it had reached an agreement to acquire Professional Underwriters Corporation, an underwriting manager located in King of Prussia, Pennsylvania. Professional Underwriters specializes in underwriting and managing "Program Business" on behalf of a number of insurance companies including Mutual Risk's subsidiary, Legion Insurance Company. Program Business involves a producing agent and one or more insurers or reinsurers jointly participating in the underwriting profit and investment income produced by a Mutual Risk "Alternative Market" program, rather than the insured, and has been a growing segment of Mutual Risk's business.

John Kessock, Jr., President of Mutual Risk, noted that, "Professional Underwriters Corporation brings extensive experience in underwriting and managing Program Business and will enhance Mutual Risk's ability to grow this important segment of our business. Professional Underwriters experience in liability and property lines will be especially helpful to Mutual Risk as we expect our Program Business to be significantly less concentrated in the workers' compensation line than our traditional Alternative Market business".

The acquisition of Professional Underwriters is expected to be completed in January, 1996. Professional Underwriters' 1995 revenues are expected to be approximately $5 million and they employ a staff of about 55 people.


Mutual Risk Management Ltd. provides risk management services to clients in the United States, Canada and Europe seeking alternatives to traditional commercial insurance for certain of their risk exposures, especially workers' compensation. Mutual Risk Management Ltd. Common Shares are listed on the New York and Bermuda stock exchanges under the symbol MM.


Mutual Risk Management Ltd.
P.O. Box HM 2064, 44 Church Street
Hamilton HM HX, Bermuda
Tel: (441) 295-5688 Fax: (441) 292-1867