<ARTICLE>                             7
<MULTIPLIER>                                       1,000
                                       
                                   
<PERIOD-TYPE>                         3-MOS
<FISCAL-YEAR-END>                     DEC-31-1996
<PERIOD-START>                        JAN-01-1996
<PERIOD-END>                          MAR-31-1996
<DEBT-HELD-FOR-SALE>                          15,869,400
<DEBT-CARRYING-VALUE>                                  0
<DEBT-MARKET-VALUE>                                    0
<EQUITIES>                                       575,800
<MORTGAGE>                                     3,551,300
<REAL-ESTATE>                                  3,814,400
<TOTAL-INVEST>                                27,006,800
<CASH>                                           759,200
<RECOVER-REINSURE>                                     0
<DEFERRED-ACQUISITION>                         3,211,300
<TOTAL-ASSETS>                                69,894,400
<POLICY-LOSSES>                                        0
<UNEARNED-PREMIUMS>                                    0
<POLICY-OTHER>                                 4,067,600
<POLICY-HOLDER-FUNDS>                         21,850,400
<NOTES-PAYABLE>                                2,034,300
<COMMON>                                           2,500
<PREFERRED-MANDATORY>                                  0
<PREFERRED>                                            0
<OTHER-SE>                                     3,822,400
<TOTAL-LIABILITY-AND-EQUITY>                  69,894,400
<PREMIUMS>                                       353,900
<INVESTMENT-INCOME>                              536,300
<INVESTMENT-GAINS>                                 1,200
<OTHER-INCOME>                                   272,900
<BENEFITS>                                       253,200
<UNDERWRITING-AMORTIZATION>                       60,000
<UNDERWRITING-OTHER>                             386,000
<INCOME-PRETAX>                                  144,700
<INCOME-TAX>                                      34,300
<INCOME-CONTINUING>                               91,500
<DISCONTINUED>                                         0
<EXTRAORDINARY>                                        0
<CHANGES>                                        (23,100)
<NET-INCOME>                                      68,400
<EPS-PRIMARY>                                          0
<EPS-DILUTED>                                          0
<RESERVE-OPEN>                                         0
<PROVISION-CURRENT>                                    0
<PROVISION-PRIOR>                                      0
<PAYMENTS-CURRENT>                                     0
<PAYMENTS-PRIOR>                                       0
<RESERVE-CLOSE>                                        0
<CUMULATIVE-DEFICIENCY>                                0