<ARTICLE>                                           7

                                           
<PERIOD-TYPE>                                 9-MOS
<FISCAL-YEAR-END>                             Dec-31-2000
<PERIOD-START>                                Jan-01-2000
<PERIOD-END>                                  Sep-30-2000
<DEBT-HELD-FOR-SALE>                          1,738,500
<DEBT-CARRYING-VALUE>                                 0
<DEBT-MARKET-VALUE>                                   0
<EQUITIES>                                      117,843
<MORTGAGE>                                            0
<REAL-ESTATE>                                         0
<TOTAL-INVEST>                                2,020,258<F2>
<CASH>                                          198,278<F3>
<RECOVER-REINSURE>                              723,359<F1>
<DEFERRED-ACQUISITION>                           96,790
<TOTAL-ASSETS>                                4,012,338
<POLICY-LOSSES>                               2,253,360
<UNEARNED-PREMIUMS>                             499,129
<POLICY-OTHER>                                        0
<POLICY-HOLDER-FUNDS>                                 0
<NOTES-PAYABLE>                                 266,944
<PREFERRED-MANDATORY>                            86,900
<PREFERRED>                                           0
<COMMON>                                          3,667
<OTHER-SE>                                      628,803
<TOTAL-LIABILITY-AND-EQUITY>                  4,012,338
<PREMIUMS>                                       82,739
<INVESTMENT-INCOME>                              27,778
<INVESTMENT-GAINS>                              (1,916)
<OTHER-INCOME>                                     (53)
<BENEFITS>                                       69,190
<UNDERWRITING-AMORTIZATION>                      16,269
<UNDERWRITING-OTHER>                             10,387
<INCOME-PRETAX>                                   2,732
<INCOME-TAX>                                          0
<INCOME-CONTINUING>                                   0
<DISCONTINUED>                                        0
<EXTRAORDINARY>                                       0
<CHANGES>                                             0
<NET-INCOME>                                      2,732
<EPS-BASIC>                                         .17
<EPS-DILUTED>                                       .17
<RESERVE-OPEN>                                        0
<PROVISION-CURRENT>                                   0
<PROVISION-PRIOR>                                     0
<PAYMENTS-CURRENT>                                    0
<PAYMENTS-PRIOR>                                      0
<RESERVE-CLOSE>                                       0
<CUMULATIVE-DEFICIENCY>                               0


<FN>
1    Represents net reinsurance recoverable balances after offset of funds held
     and reinsurance balances payable.
2    Total investments include investments held by managed syndicates of
     $163,915.
3    Cash includes cash and cash equivalents held by managed syndicates of
     $75,992.

</FN>