<ARTICLE> 7 <LEGEND> NAC RE CORPORATION ARTICLE 7 OF REGULATION S-X INSURANCE COMPANIES NINE MONTH PERIOD ENDING SEPTEMBER 30, 1996 (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) </LEGEND> <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> SEP-30-1996 <DEBT-HELD-FOR-SALE> 1,656,278 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 152,419 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 1,922,352 <CASH> 7,668 <RECOVER-REINSURE> 13,567 <DEFERRED-ACQUISITION> 79,399 <TOTAL-ASSETS> 2,662,154 <POLICY-LOSSES> 1,443,686 <UNEARNED-PREMIUMS> 251,774 <POLICY-OTHER> 5,819 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 299,932 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 2,145 <OTHER-SE> 526,253 <TOTAL-LIABILITY-AND-EQUITY> 2,662,154 <PREMIUMS> 386,282 <INVESTMENT-INCOME> 77,499 <INVESTMENT-GAINS> 14,654 <OTHER-INCOME> 0 <BENEFITS> 248,710 <UNDERWRITING-AMORTIZATION> 145,931 <UNDERWRITING-OTHER> 16,896 <INCOME-PRETAX> 66,898 <INCOME-TAX> 13,674 <INCOME-CONTINUING> 53,224 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 53,224 <EPS-PRIMARY> 2.75 <EPS-DILUTED> 2.61 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0