<ARTICLE> 7
<LEGEND>
This schedule contains summary financial information extracted from the
Condensed Consolidated Balance Sheets and the Consolidated Statements of Income
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<DEBT-HELD-FOR-SALE>                         4,650,196
<DEBT-CARRYING-VALUE>                        4,069,067
<DEBT-MARKET-VALUE>                          4,345,009
<EQUITIES>                                     320,461
<MORTGAGE>                                         248
<REAL-ESTATE>                                    4,329
<TOTAL-INVEST>                               9,304,911
<CASH>                                          22,447
<RECOVER-REINSURE>                             125,375
<DEFERRED-ACQUISITION>                         938,381
<TOTAL-ASSETS>                              10,717,983
<POLICY-LOSSES>                              8,612,340
<UNEARNED-PREMIUMS>                                234
<POLICY-OTHER>                                  65,741
<POLICY-HOLDER-FUNDS>                          116,988
<NOTES-PAYABLE>                                207,216
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     80,000
<COMMON>                                       312,913
<OTHER-SE>                                     961,545
<TOTAL-LIABILITY-AND-EQUITY>                10,717,983
<PREMIUMS>                                     177,466
<INVESTMENT-INCOME>                            196,231
<INVESTMENT-GAINS>                              10,301
<OTHER-INCOME>                                  27,725
<BENEFITS>                                     308,146
<UNDERWRITING-AMORTIZATION>                     14,376
<UNDERWRITING-OTHER>                            29,002
<INCOME-PRETAX>                                 60,199
<INCOME-TAX>                                    21,276
<INCOME-CONTINUING>                             38,923
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    38,923
<EPS-PRIMARY>                                     0.77
<EPS-DILUTED>                                     0.77
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0