John Kessock

MRM in class action settlement talks

August 31, 2003

Negotiations are underway to settle a class action lawsuit filed by shareholders against Mutual Risk Management and several of its former officers and directors.Details are contained in a filing at the U. S. District Court for the Southern District of California on July 30, 2003 in which the defendants agreed to withdraw their motion to dismiss the complaint.

Mutual Risk Management finally files 2001 financials

November 30, 2002

At a time when Mutual Risk Management was desperate for cash to meet its liabilities, its then Chairman and CEO, Robert Mulderig, owed the firm an advance of $318,303, according to an SEC filing. Details of the debt, which has

New lawsuits filed against Mutual Risk Management

August 31, 2002

Three new civil lawsuits - one in Bermuda and two in the United States - have been filed against members of the Mutual Risk Management group.On July 30, 2002, Aegis Corporation and Principal Insurance Managers filed an action against Mutual Indemnity (Bermuda) Ltd. at Bermuda Supreme Court.

MRM insider trades

February 28, 2001

The collapse of Mutual Risk Management's stock price shows the wisdom of several insiders who reported last November that they had exercised options and sold shares for a profit, rather than hang on to them.Records filed with the SEC shows that insiders made a combined profit of $533,133 on the stock market by exercising options at $15.14 per share and selling them for between $17.82 and $18.73.

Mutual Risk Management officers in heavy selling

January 29, 1999

Senior officers of Mutual Risk Management engaged in heavy selling of their company's stock from November 20-December 14, 1998, collectively off-loading 247,214 shares for $9,121,767 on the New York Stock Exchange.

MRM’s millionaire insurance bosses

March 31, 1998

Mutual Risk Management chairman and CEO Robert Mulderig received a financial package worth $2.67 million for fiscal 1997, according to the company's latest Proxy Statement filing with the SEC. Mulderig received a salary of $452,250, a bonus of $486,842, pension contributions of $11,309 and a profit of $1.72 million from exercising stock options. His right-hand man, John Kessock, who is president of the company, received a package valued at $2.64 million, comprising a salary of $452,504, a bonus of $486,842, pension contributions of $4,000 and a stock option profit of $1.7 million.