<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> 1,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<EXCHANGE-RATE>                                      1
<DEBT-HELD-FOR-SALE>                         7,287,010
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      63,690
<MORTGAGE>                                   1,652,140
<REAL-ESTATE>                                    8,929
<TOTAL-INVEST>                               9,258,582
<CASH>                                          28,970
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                         744,708
<TOTAL-ASSETS>                              11,934,057
<POLICY-LOSSES>                              9,058,549
<UNEARNED-PREMIUMS>                             18,554
<POLICY-OTHER>                                   5,871
<POLICY-HOLDER-FUNDS>                           13,189
<NOTES-PAYABLE>                                175,400
<PREFERRED-MANDATORY>                          125,000
<PREFERRED>                                          0
<COMMON>                                        31,968
<OTHER-SE>                                     764,947
<TOTAL-LIABILITY-AND-EQUITY>                11,934,057
<PREMIUMS>                                      29,712
<INVESTMENT-INCOME>                            528,612
<INVESTMENT-GAINS>                              15,828
<OTHER-INCOME>                                  65,709
<BENEFITS>                                     385,986
<UNDERWRITING-AMORTIZATION>                     60,652
<UNDERWRITING-OTHER>                            21,724
<INCOME-PRETAX>                                146,738
<INCOME-TAX>                                    50,865
<INCOME-CONTINUING>                             93,672
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    93,672
<EPS-PRIMARY>                                     2.94
<EPS-DILUTED>                                     2.89
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0