<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>