<ARTICLE> 7 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <DEBT-HELD-FOR-SALE> 440,966 <DEBT-CARRYING-VALUE> 2,073,268 <DEBT-MARKET-VALUE> 2,073,268 <EQUITIES> 7,513 <MORTGAGE> 62,625 <REAL-ESTATE> 4,066 <TOTAL-INVEST> 3,483,664 <CASH> 46,538 <RECOVER-REINSURE> 27,914 <DEFERRED-ACQUISITION> 625,235 <TOTAL-ASSETS> 8,753,205 <POLICY-LOSSES> 2,720,314 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 13,610 <NOTES-PAYABLE> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 2,500 <OTHER-SE> 1,308,192 <TOTAL-LIABILITY-AND-EQUITY> 8,753,205 <PREMIUMS> 10,555 <INVESTMENT-INCOME> 60,851 <INVESTMENT-GAINS> 7,175 <OTHER-INCOME> 81,544 <BENEFITS> 39,605 <UNDERWRITING-AMORTIZATION> 2,808 <UNDERWRITING-OTHER> 29,243 <INCOME-PRETAX> 59,443 <INCOME-TAX> 20,811 <INCOME-CONTINUING> 38,632 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 38,632 <EPS-PRIMARY> 0 <EPS-DILUTED> 0 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0