<ARTICLE>                     7
<MULTIPLIER>                  1       
<CURRENCY>                    U.S Dollars     
       
                           
<PERIOD-TYPE>                 12-MOS
<FISCAL-YEAR-END>             DEC-31-1997
<PERIOD-START>                JAN-1-1997      
<PERIOD-END>                  DEC-31-1997
<EXCHANGE-RATE>               1
<DEBT-HELD-FOR-SALE>                108,323,668
<DEBT-CARRYING-VALUE>               117,690,339
<DEBT-MARKET-VALUE>                 117,735,481
<EQUITIES>                            6,710,851
<MORTGAGE>                                    0
<REAL-ESTATE>                                 0
<TOTAL-INVEST>                      125,088,457
<CASH>                               81,974,204
<RECOVER-REINSURE>                    3,120,221
<DEFERRED-ACQUISITION>              628,051,995
<TOTAL-ASSETS>                   12,972,416,108  <F1>
<POLICY-LOSSES>                      67,619,442
<UNEARNED-PREMIUMS>                           0
<POLICY-OTHER>                                0
<POLICY-HOLDER-FUNDS>                         0
<NOTES-PAYABLE>                     213,000,000
<PREFERRED-MANDATORY>                         0
<PREFERRED>                                   0
<COMMON>                              2,000,000
<OTHER-SE>                          182,421,044
<TOTAL-LIABILITY-AND-EQUITY>     12,972,416,108  <F2>
<PREMIUMS>                              920,042
<INVESTMENT-INCOME>                   8,181,073
<INVESTMENT-GAINS>                       87,103
<OTHER-INCOME>                      148,826,076     <F3>
<BENEFITS>                            4,596,607
<UNDERWRITING-AMORTIZATION>          52,524,520
<UNDERWRITING-OTHER>                 37,972,432
<INCOME-PRETAX>                      38,025,279
<INCOME-TAX>                         10,477,746
<INCOME-CONTINUING>                           0
<DISCONTINUED>                                0
<EXTRAORDINARY>                               0
<CHANGES>                                     0
<NET-INCOME>                         27,547,533
<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
        

<FN>
<F1> Included in Total Assets are Assets Held in Separate Accounts 
     of $12,095,163.
<F2> Included in Total Liabilities and Equity are Liabilities Related to
     Separate Accounts of $12,095,163,569.
<F3> Other income includes annuity charges and fees of $121,157,846  and 
     fee income of $27,587,231.
</FN>