<ARTICLE> 7
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<DEBT-HELD-FOR-SALE>                           542,864
<DEBT-CARRYING-VALUE>                        1,718,570
<DEBT-MARKET-VALUE>                          1,735,383
<EQUITIES>                                      25,559
<MORTGAGE>                                     190,780
<REAL-ESTATE>                                   18,194
<TOTAL-INVEST>                               2,665,531
<CASH>                                           8,649
<RECOVER-REINSURE>                               1,255
<DEFERRED-ACQUISITION>                         282,861
<TOTAL-ASSETS>                               3,006,434
<POLICY-LOSSES>                              2,605,207
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                  13,979
<POLICY-HOLDER-FUNDS>                            9,884
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         3,491
<OTHER-SE>                                     311,456
<TOTAL-LIABILITY-AND-EQUITY>                 3,006,434
<PREMIUMS>                                      23,090<F1>
<INVESTMENT-INCOME>                             50,655
<INVESTMENT-GAINS>                                 623
<OTHER-INCOME>                                   1,101
<BENEFITS>                                      47,029<F2>
<UNDERWRITING-AMORTIZATION>                      8,361
<UNDERWRITING-OTHER>                             6,554
<INCOME-PRETAX>                                 13,525
<INCOME-TAX>                                     4,781
<INCOME-CONTINUING>                              8,744
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                     00
<CHANGES>                                            0
<NET-INCOME>                                     8,744
<EPS-PRIMARY>                                     2.50
<EPS-DILUTED>                                     2.50
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0
<FN>
<F1>Consists of $4,274 revenues from traditional contracts subject to FAS 60
accounting treatment and $18,816 revenues from universal life and investment
annuity contracts subject to FAS 97 accounting treatment.
<F2>Consists of $8,678 benefits paid to policyholders, $(484) decrease in
reserves on traditional contracts and $38,835 interest on universal life and
investment annuity contracts.
</FN>