Mutual Risk Management Announces Executive Resignation

Business Wire, April 10, 2002

Business Editors

HAMILTON, Bermuda--(BUSINESS WIRE)--April 10, 2002

Mutual Risk Management (MRM) announced today that John Kessock Jr. has resigned as President and a Director of the Company in order to pursue personal interests.

Mr. Kessock has served the Company for 23 years in various executive capacities and was instrumental in introducing the Insurance Profit Center (IPC) rent-a-captive facility in the early 1980's.

Robert A. Mulderig, MRM's Chairman and CEO said, "John played a key role in building the Company over the years, particularly the sales and marketing of the IPC product. We wish him all the best in his future endeavors."

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, as well as financial services to individuals and other companies.

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in these laws. These statements are not guarantees of performance. Actual results may differ materially from those projected in such forward-looking statements and therefore you should not place undue reliance on them. Actual results could be affected by actions of regulators and customer and lender reactions to the rehabilitation orders. Other important factors that could cause actual results to differ materially from those in such forward-looking statements are set forth in Mutual Risk's most recent report on Form 10-K and Mutual Risk's other documents on file with the Securities and Exchange Commission. Mutual Risk undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.