<ARTICLE> 7 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <DEBT-HELD-FOR-SALE> 21,285,500 <DEBT-CARRYING-VALUE> 134,900 <DEBT-MARKET-VALUE> 155,200 <EQUITIES> 1,493,400 <MORTGAGE> 2,498,400 <REAL-ESTATE> 2,386,500 <TOTAL-INVEST> 70,773,600 <CASH> 1,285,100 <RECOVER-REINSURE> 0 <DEFERRED-ACQUISITION> 3,352,500 <TOTAL-ASSETS> 166,254,300 <POLICY-LOSSES> 0 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 4,662,100 <POLICY-HOLDER-FUNDS> 20,750,000 <NOTES-PAYABLE> 8,978,800 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 2,200 <OTHER-SE> 5,820,200 <TOTAL-LIABILITY-AND-EQUITY> 166,254,300 <PREMIUMS> 806,200 <INVESTMENT-INCOME> 2,358,000 <INVESTMENT-GAINS> 349,000 <OTHER-INCOME> 2,383,100 <BENEFITS> 520,400 <UNDERWRITING-AMORTIZATION> 172,700 <UNDERWRITING-OTHER> 3,629,900 <INCOME-PRETAX> 990,000 <INCOME-TAX> 328,800 <INCOME-CONTINUING> 513,600 <DISCONTINUED> 1,800 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 515,400 <EPS-PRIMARY> 2.32 <EPS-DILUTED> 2.21 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0