<ARTICLE> 7 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <DEBT-HELD-FOR-SALE> 99840536 <DEBT-CARRYING-VALUE> 5634403 <DEBT-MARKET-VALUE> 0 <EQUITIES> 66252 <MORTGAGE> 1841643 <REAL-ESTATE> 671890 <TOTAL-INVEST> 128219922 <CASH> 2992452 <RECOVER-REINSURE> 1690246 <DEFERRED-ACQUISITION> 36733110 <TOTAL-ASSETS> 204685825 <POLICY-LOSSES> 126407054 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 8323611 <POLICY-HOLDER-FUNDS> 1918535 <NOTES-PAYABLE> 735814 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 45978460 <OTHER-SE> 18281307 <TOTAL-LIABILITY-AND-EQUITY> 204685825 <PREMIUMS> 11521303 <INVESTMENT-INCOME> 2078688 <INVESTMENT-GAINS> (8928) <OTHER-INCOME> 79633 <BENEFITS> 8441003 <UNDERWRITING-AMORTIZATION> 2380935 <UNDERWRITING-OTHER> 4101583 <INCOME-PRETAX> 734845 <INCOME-TAX> 249848 <INCOME-CONTINUING> 484997 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 484997 <EPS-PRIMARY> .03 <EPS-DILUTED> .03 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0