<ARTICLE> 7 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> Dec-31-2000 <PERIOD-START> Jan-01-2000 <PERIOD-END> Jun-30-2000 <DEBT-HELD-FOR-SALE> 1,147,361 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 107,222 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 1,427,371<F3> <CASH> 250,029 <RECOVER-REINSURE> 743,521<F1> <DEFERRED-ACQUISITION> 93,132 <TOTAL-ASSETS> 3,491,181 <POLICY-LOSSES> 2,050,332 <UNEARNED-PREMIUMS> 434,421 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 75,000 <PREFERRED-MANDATORY> 110,000 <PREFERRED> 0 <COMMON> 1,689 <OTHER-SE> 437,783 <TOTAL-LIABILITY-AND-EQUITY> 3,491,181 <PREMIUMS> 288,264 <INVESTMENT-INCOME> 54,018 <INVESTMENT-GAINS> (375) <OTHER-INCOME> 3,473 <BENEFITS> 206,494 <UNDERWRITING-AMORTIZATION> 81,047 <UNDERWRITING-OTHER> 34,780 <INCOME-PRETAX> 1,129 <INCOME-TAX> (2,560) <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 825 <CHANGES> 0 <NET-INCOME> 2,864 <EPS-BASIC> .18<F2> <EPS-DILUTED> .18 <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 Represents basis earnings per share. 3 Total investments include investments held by managed syndicates of $147,608 and other investments of $24,736. </FN>