<ARTICLE> 7 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <DEBT-HELD-FOR-SALE> 140,518,000 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 22,913,000 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 207,663,000 <CASH> 102,948,000 <RECOVER-REINSURE> 0 <DEFERRED-ACQUISITION> 25,653,000 <TOTAL-ASSETS> 817,011,000 <POLICY-LOSSES> 212,757,000 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 91,080,000 <COMMON> 11,435,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 270,122,000 <TOTAL-LIABILITY-AND-EQUITY> 817,011,000 <PREMIUMS> 256,288,000 <INVESTMENT-INCOME> 4,866,000 <INVESTMENT-GAINS> 0 <OTHER-INCOME> 0 <BENEFITS> 21,306,000 <UNDERWRITING-AMORTIZATION> 1,224,000 <UNDERWRITING-OTHER> 0 <INCOME-PRETAX> (21,509,000) <INCOME-TAX> (8,800,000) <INCOME-CONTINUING> (12,709,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (12,709,000) <EPS-PRIMARY> (1.11) <EPS-DILUTED> 0 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0