<ARTICLE> 7
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<DEBT-HELD-FOR-SALE>                         3,067,500
<DEBT-CARRYING-VALUE>                        2,541,100
<DEBT-MARKET-VALUE>                          2,536,500
<EQUITIES>                                      35,000
<MORTGAGE>                                      73,400
<REAL-ESTATE>                                   39,400
<TOTAL-INVEST>                               6,043,600
<CASH>                                          19,100
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                         174,000
<TOTAL-ASSETS>                               6,711,900
<POLICY-LOSSES>                                      0
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                 556,300
<POLICY-HOLDER-FUNDS>                        5,208,400
<NOTES-PAYABLE>                                170,400
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     17,000
<COMMON>                                        43,100
<OTHER-SE>                                     320,200
<TOTAL-LIABILITY-AND-EQUITY>                 6,711,900
<PREMIUMS>                                      55,500
<INVESTMENT-INCOME>                            227,600
<INVESTMENT-GAINS>                                 900
<OTHER-INCOME>                                   3,100
<BENEFITS>                                     185,300
<UNDERWRITING-AMORTIZATION>                     14,200
<UNDERWRITING-OTHER>                            34,400
<INCOME-PRETAX>                                 48,000
<INCOME-TAX>                                    17,000
<INCOME-CONTINUING>                             31,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                (4,300)
<CHANGES>                                            0
<NET-INCOME>                                    26,700
<EPS-PRIMARY>                                     0.60
<EPS-DILUTED>                                     0.60
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0