<ARTICLE> 7
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q FOR
THE NINE MONTHS ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000035733
<NAME> FINANCIAL INDUSTRIES CORPORATION
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               SEP-30-1997
<DEBT-HELD-FOR-SALE>                            82,075
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                           4
<MORTGAGE>                                           0
<REAL-ESTATE>                                   7,1340
<TOTAL-INVEST>                                 116,018
<CASH>                                             839
<RECOVER-REINSURE>                               9,150
<DEFERRED-ACQUISITION>                          44,101
<TOTAL-ASSETS>                                 297,239
<POLICY-LOSSES>                                 60,204
<UNEARNED-PREMIUMS>                                104
<POLICY-OTHER>                                  43,444
<POLICY-HOLDER-FUNDS>                            5,177
<NOTES-PAYABLE>                                 55,329
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,169
<OTHER-SE>                                     101,468
<TOTAL-LIABILITY-AND-EQUITY>                   297,239
<PREMIUMS>                                      30,284
<INVESTMENT-INCOME>                              6,583
<INVESTMENT-GAINS>                                   0
<OTHER-INCOME>                                   2,091
<BENEFITS>                                      13,469
<UNDERWRITING-AMORTIZATION>                      3,516
<UNDERWRITING-OTHER>                             9,405
<INCOME-PRETAX>                                  8,549
<INCOME-TAX>                                     1,497
<INCOME-CONTINUING>                              7,052
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     7,052
<EPS-PRIMARY>                                     1.26
<EPS-DILUTED>                                     1.26
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0