<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 1996 (UNAUDITED) AND THE CONSOLIDATED
STATEMENT OF INCOME FOR THE THREE MONTHS ENDED MARCH 31, 1996 (UNAUDITED) AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<DEBT-HELD-FOR-SALE>                         1,869,360
<DEBT-CARRYING-VALUE>                        1,869,360
<DEBT-MARKET-VALUE>                          1,869,360
<EQUITIES>                                           0
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                               2,138,395
<CASH>                                          79,767
<RECOVER-REINSURE>                             198,627
<DEFERRED-ACQUISITION>                         103,209
<TOTAL-ASSETS>                               2,829,236
<POLICY-LOSSES>                                918,760
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                          751,755
<NOTES-PAYABLE>                                241,217
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           150
<OTHER-SE>                                     297,017
<TOTAL-LIABILITY-AND-EQUITY>                 2,829,236
<PREMIUMS>                                      72,776
<INVESTMENT-INCOME>                             30,624
<INVESTMENT-GAINS>                             (1,201)
<OTHER-INCOME>                                       0
<BENEFITS>                                      62,774
<UNDERWRITING-AMORTIZATION>                      4,906
<UNDERWRITING-OTHER>                            19,326
<INCOME-PRETAX>                                 15,193
<INCOME-TAX>                                     5,318
<INCOME-CONTINUING>                              9,875
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     9,875
<EPS-PRIMARY>                                      .74
<EPS-DILUTED>                                      .74
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0