Mutual Risk Management Ltd. plans more "aggressive'' marketing of its newly-expanded captive insurance company operations, the Bermuda-based company said yesterday.

In a restructuring, operations of the company's six independently-operated captive domiciles have been united into the Mutual Risk Captive Group.

Mutual Risk Captive Group president Simon Scupham said the company's growing captive market presence motivated the move.

Mutual Risk Captive Group ranks among the top ten captive managers worldwide by units managed. "Although we are known for our insurance profit centre programmes (rent-a-captives), we want people to know we have a substantial captive management operation,'' Mr. Scupham said.

MRM has in excess of 100 captives under management.

"Combining the domiciles under one group is one of many ways we plan to more aggressively market our captive operations in the US and international markets.'' MRM has captive management operations in Bermuda, Barbados, Cayman Islands, Dublin, Vermont and Guernsey. The latest is Guernsey. One of the Channel Islands, it is located about 80 miles south of the English coast.

MRM, with $1.6 billion in assets, provides risk management services to clients seeking an alternative to traditional commercial insurance for certain risks.

For the year ended December 31, 1996, MRM made $37.2 million compared to $30.4 million in the prior year.

A captive insurance company is formed to insure the risks of its parent corporation.

Bermuda is the world's largest captive insurance company domicile.