<ARTICLE>                                       7
<MULTIPLIER>                                                1,000
                                                 
                                             
<PERIOD-TYPE>                                   YEAR
<FISCAL-YEAR-END>                               DEC-31-1996
<PERIOD-START>                                  JAN-01-1996
<PERIOD-END>                                    DEC-31-1996
<DEBT-HELD-FOR-SALE>                                   18,556,200
<DEBT-CARRYING-VALUE>                                     178,500
<DEBT-MARKET-VALUE>                                       195,100
<EQUITIES>                                                809,100
<MORTGAGE>                                              3,133,000
<REAL-ESTATE>                                           3,298,400
<TOTAL-INVEST>                                         64,789,300
<CASH>                                                    755,300
<RECOVER-REINSURE>                                              0
<DEFERRED-ACQUISITION>                                  3,106,500
<TOTAL-ASSETS>                                        128,811,200
<POLICY-LOSSES>                                                 0
<UNEARNED-PREMIUMS>                                             0
<POLICY-OTHER>                                          4,416,600
<POLICY-HOLDER-FUNDS>                                  21,863,800
<NOTES-PAYABLE>                                         5,379,600
<PREFERRED-MANDATORY>                                           0
<PREFERRED>                                               404,600
<COMMON>                                                    1,900
<OTHER-SE>                                              3,581,500
<TOTAL-LIABILITY-AND-EQUITY>                          128,811,200
<PREMIUMS>                                              1,471,600
<INVESTMENT-INCOME>                                     3,308,600
<INVESTMENT-GAINS>                                        599,200
<OTHER-INCOME>                                          2,925,500
<BENEFITS>                                              1,317,700
<UNDERWRITING-AMORTIZATION>                               406,000
<UNDERWRITING-OTHER>                                    4,794,300
<INCOME-PRETAX>                                           515,800
<INCOME-TAX>                                              137,400
<INCOME-CONTINUING>                                       206,000
<DISCONTINUED>                                           (83,800)
<EXTRAORDINARY>                                                 0
<CHANGES>                                                (23,100)
<NET-INCOME>                                               99,100
<EPS-PRIMARY>                                                0.36
<EPS-DILUTED>                                                0.36
<RESERVE-OPEN>                                                  0
<PROVISION-CURRENT>                                             0
<PROVISION-PRIOR>                                               0
<PAYMENTS-CURRENT>                                              0
<PAYMENTS-PRIOR>                                                0
<RESERVE-CLOSE>                                                 0
<CUMULATIVE-DEFICIENCY>                                         0