<ARTICLE> 7 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS FILED HEREWITH AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <DEBT-HELD-FOR-SALE> 346 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 264 <MORTGAGE> 11 <REAL-ESTATE> 0 <TOTAL-INVEST> 61 <CASH> 13 <RECOVER-REINSURE> 136 <DEFERRED-ACQUISITION> 44 <TOTAL-ASSETS> 1120 <POLICY-LOSSES> 286 <UNEARNED-PREMIUMS> 282 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 31 <PREFERRED-MANDATORY> 0 <PREFERRED> 20<F1> <COMMON> 10 <OTHER-SE> 342 <TOTAL-LIABILITY-AND-EQUITY> 1120 <PREMIUMS> 122 <INVESTMENT-INCOME> 8 <INVESTMENT-GAINS> 1<F2> <OTHER-INCOME> 15 <BENEFITS> 52 <UNDERWRITING-AMORTIZATION> 23 <UNDERWRITING-OTHER> 49 <INCOME-PRETAX> 22 <INCOME-TAX> 6 <INCOME-CONTINUING> 16 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 16 <EPS-PRIMARY> .78<F3> <EPS-DILUTED> 0 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0 <FN> <F1>Convertible redeemable preferred stock classified at mezzanine level on Consolidated Statements of Financial Position <F2>Excludes 1.0 pre-tax Investment in Radian <F3>Per common share. </FN>