<ARTICLE> 7 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> JUN-30-1996 <DEBT-HELD-FOR-SALE> 10,257,774 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 802,117 <MORTGAGE> 0 <REAL-ESTATE> 611,614 <TOTAL-INVEST> 13,185,934 <CASH> 33,159 <RECOVER-REINSURE> 70,301 <DEFERRED-ACQUISITION> 371,383 <TOTAL-ASSETS> 19,608,481 <POLICY-LOSSES> 10,354,052 <UNEARNED-PREMIUMS> 2,242,500 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 695,552 <COMMON> 464,844 <PREFERRED-MANDATORY> 0 <PREFERRED> 12,813 <OTHER-SE> 3,220,296 <TOTAL-LIABILITY-AND-EQUITY> 19,608,481 <PREMIUMS> 2,085,960 <INVESTMENT-INCOME> 404,551 <INVESTMENT-GAINS> 95,425 <OTHER-INCOME> 273,876 <BENEFITS> 1,534,261 <UNDERWRITING-AMORTIZATION> 462,279 <UNDERWRITING-OTHER> 530,741 <INCOME-PRETAX> 332,531 <INCOME-TAX> 73,657 <INCOME-CONTINUING> 258,874 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 258,874 <EPS-PRIMARY> 3.00 <EPS-DILUTED> 2.83 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0