<ARTICLE> 7 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> Dec-31-2000 <PERIOD-START> Jan-01-2000 <PERIOD-END> Mar-31-2000 <DEBT-HELD-FOR-SALE> 1,239,190 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 112,600 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 1,536,672<F3> <CASH> 189,579 <RECOVER-REINSURE> 783,125<F1> <DEFERRED-ACQUISITION> 87,796 <TOTAL-ASSETS> 3,465,970 <POLICY-LOSSES> 2,132,704 <UNEARNED-PREMIUMS> 419,048 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 273,450 <PREFERRED-MANDATORY> 110,000 <PREFERRED> 0 <COMMON> 1,629 <OTHER-SE> 444,309 <TOTAL-LIABILITY-AND-EQUITY> 3,465,970 <PREMIUMS> 134,932 <INVESTMENT-INCOME> 26,111 <INVESTMENT-GAINS> (669) <OTHER-INCOME> 4,601 <BENEFITS> 94,913 <UNDERWRITING-AMORTIZATION> 38,443 <UNDERWRITING-OTHER> 16,496 <INCOME-PRETAX> 2,347 <INCOME-TAX> 781 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> (825)<F2> <CHANGES> 0 <NET-INCOME> 741 <EPS-BASIC> .05 <EPS-DILUTED> .05 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0 <FN> 1 Represents net reinsurance recoverable balances after offset of funds held and reinsurance balances payable. 2 Including income tax benefit of $445. 3 Total investments include investments held by managed syndicates of $161,151 and other investments of $23,731. </FN>