<ARTICLE> 7
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<DEBT-HELD-FOR-SALE>                         4,311,900
<DEBT-CARRYING-VALUE>                        2,184,400
<DEBT-MARKET-VALUE>                          2,246,200
<EQUITIES>                                      91,700
<MORTGAGE>                                      49,600
<REAL-ESTATE>                                   43,400
<TOTAL-INVEST>                               6,972,700
<CASH>                                          32,700
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                         272,100
<TOTAL-ASSETS>                               7,890,800
<POLICY-LOSSES>                                      0
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                 778,000
<POLICY-HOLDER-FUNDS>                        5,540,300
<NOTES-PAYABLE>                                161,600
<PREFERRED-MANDATORY>                          225,000<F1>
<PREFERRED>                                          0
<COMMON>                                        43,100
<OTHER-SE>                                     566,600
<TOTAL-LIABILITY-AND-EQUITY>                 7,890,800
<PREMIUMS>                                      46,800
<INVESTMENT-INCOME>                            127,000
<INVESTMENT-GAINS>                              10,200
<OTHER-INCOME>                                   3,200
<BENEFITS>                                     109,200
<UNDERWRITING-AMORTIZATION>                     14,000
<UNDERWRITING-OTHER>                            21,000
<INCOME-PRETAX>                                 38,100
<INCOME-TAX>                                    12,400
<INCOME-CONTINUING>                             25,700
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  (800)
<CHANGES>                                            0
<NET-INCOME>                                    24,900
<EPS-PRIMARY>                                     0.58
<EPS-DILUTED>                                     0.57
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0
<FN>
<F1>Mandatorily Redeemable Preferred Securities of subsidiary trusts
</FN>