<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FORM THE CONSOLIDATED
STATEMENTS OF INCOME AND CONSOLIDATED BALANCE SHEETS (UNAUDITED) AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<EXCHANGE-RATE>                                      1
<DEBT-HELD-FOR-SALE>                         7,017,874
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      52,468
<MORTGAGE>                                   1,537,827
<REAL-ESTATE>                                   14,273
<TOTAL-INVEST>                               8,850,804
<CASH>                                           8,002
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                         729,008
<TOTAL-ASSETS>                              10,121,079
<POLICY-LOSSES>                              8,639,509
<UNEARNED-PREMIUMS>                             17,155
<POLICY-OTHER>                                   9,191
<POLICY-HOLDER-FUNDS>                           13,261
<NOTES-PAYABLE>                                216,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        31,897
<OTHER-SE>                                     721,472
<TOTAL-LIABILITY-AND-EQUITY>                10,121,079
<PREMIUMS>                                      19,898
<INVESTMENT-INCOME>                            348,266
<INVESTMENT-GAINS>                              11,318
<OTHER-INCOME>                                  39,656
<BENEFITS>                                     255,989
<UNDERWRITING-AMORTIZATION>                     38,198
<UNDERWRITING-OTHER>                            13,269
<INCOME-PRETAX>                                 95,777
<INCOME-TAX>                                    33,686
<INCOME-CONTINUING>                             61,977
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    61,977
<EPS-PRIMARY>                                     1.95
<EPS-DILUTED>                                     1.92
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0