<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE CONSOLIDATED
STATEMENTS OF INCOME AND CONSOLIDATED BALANCE SHEETS (UNAUDITED) AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<EXCHANGE-RATE>                                      1
<DEBT-HELD-FOR-SALE>                         7,279,727
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      58,088
<MORTGAGE>                                   1,344,824
<REAL-ESTATE>                                   14,111
<TOTAL-INVEST>                               8,895,758
<CASH>                                          10,592
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                         672,012
<TOTAL-ASSETS>                              10,018,398
<POLICY-LOSSES>                              8,459,051
<UNEARNED-PREMIUMS>                             16,730
<POLICY-OTHER>                                   9,414
<POLICY-HOLDER-FUNDS>                           13,377
<NOTES-PAYABLE>                                258,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        31,873
<OTHER-SE>                                     750,017
<TOTAL-LIABILITY-AND-EQUITY>                10,018,398
<PREMIUMS>                                      10,151
<INVESTMENT-INCOME>                            171,212
<INVESTMENT-GAINS>                               5,150
<OTHER-INCOME>                                  19,063
<BENEFITS>                                     126,916
<UNDERWRITING-AMORTIZATION>                     18,123
<UNDERWRITING-OTHER>                             6,852
<INCOME-PRETAX>                                 46,788
<INCOME-TAX>                                    16,468
<INCOME-CONTINUING>                             30,205
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    30,205
<EPS-PRIMARY>                                      .95
<EPS-DILUTED>                                      .94
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0