<ARTICLE> 7
<LEGEND>
THIS FINANCIAL SCHEDULE CONTAINS SUMMARY FINANACIAL
INFORMATION EXTRACTED FROM GUARANTY NATIONAL
CORPORATION'S FINANCIAL STATEMENTS FOR THE THREE MONTHS
ENDED MARCH 31, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                              JAN-1-1997
<PERIOD-END>                               MAR-31-1997
<DEBT-HELD-FOR-SALE>                           417,287
<DEBT-CARRYING-VALUE>                           73,029
<DEBT-MARKET-VALUE>                             73,015
<EQUITIES>                                      94,950
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 490,316
<CASH>                                           3,068
<RECOVER-REINSURE>                              85,564
<DEFERRED-ACQUISITION>                          45,558
<TOTAL-ASSETS>                                 928,186
<POLICY-LOSSES>                                361,533
<UNEARNED-PREMIUMS>                            162,037
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                101,500
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       136,247
<OTHER-SE>                                     102,868
<TOTAL-LIABILITY-AND-EQUITY>                   928,186
<PREMIUMS>                                     128,675
<INVESTMENT-INCOME>                             10,745
<INVESTMENT-GAINS>                               1,412
<OTHER-INCOME>                                       0
<BENEFITS>                                      88,862
<UNDERWRITING-AMORTIZATION>                     35,970
<UNDERWRITING-OTHER>                             2,580
<INCOME-PRETAX>                                 11,420
<INCOME-TAX>                                     3,002
<INCOME-CONTINUING>                              8,418
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     8,418
<EPS-PRIMARY>                                     0.56
<EPS-DILUTED>                                     0.56
<RESERVE-OPEN>                                 284,681
<PROVISION-CURRENT>                             88,389
<PROVISION-PRIOR>                                  473
<PAYMENTS-CURRENT>                              26,910
<PAYMENTS-PRIOR>                                62,891
<RESERVE-CLOSE>                                283,742
<CUMULATIVE-DEFICIENCY>                            473