<ARTICLE> 7 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <DEBT-HELD-FOR-SALE> 19,289,500 <DEBT-CARRYING-VALUE> 162,000 <DEBT-MARKET-VALUE> 179,300 <EQUITIES> 1,151,400 <MORTGAGE> 2,751,000 <REAL-ESTATE> 3,395,600 <TOTAL-INVEST> 72,589,100 <CASH> 996,000 <RECOVER-REINSURE> 0 <DEFERRED-ACQUISITION> 3,241,900 <TOTAL-ASSETS> 147,256,100 <POLICY-LOSSES> 0 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 4,505,400 <POLICY-HOLDER-FUNDS> 21,832,500 <NOTES-PAYABLE> 7,619,200 <PREFERRED-MANDATORY> 0 <PREFERRED> 404,600 <COMMON> 1,900 <OTHER-SE> 4,065,300 <TOTAL-LIABILITY-AND-EQUITY> 147,256,100 <PREMIUMS> 759,400 <INVESTMENT-INCOME> 1,842,600 <INVESTMENT-GAINS> 612,100 <OTHER-INCOME> 1,611,200 <BENEFITS> 482,400 <UNDERWRITING-AMORTIZATION> 151,700 <UNDERWRITING-OTHER> 2,846,400 <INCOME-PRETAX> 700,200 <INCOME-TAX> 259,700 <INCOME-CONTINUING> 391,400 <DISCONTINUED> (2,700) <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 388,700 <EPS-PRIMARY> 1.96 <EPS-DILUTED> 1.73 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0