<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET OF RISK CAPITAL HOLDINGS, INC. AND ITS SUBSIDIARY AT
SEPTEMBER 30, 1999, AND THE RELATED STATEMENT OF INCOME, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               SEP-30-1999
<DEBT-HELD-FOR-SALE>                           252,803
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                     243,664
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 599,616
<CASH>                                          12,797
<RECOVER-REINSURE>                              58,753
<DEFERRED-ACQUISITION>                          24,423
<TOTAL-ASSETS>                                 870,979
<POLICY-LOSSES>                                355,873
<UNEARNED-PREMIUMS>                            115,735
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           171
<OTHER-SE>                                     361,206
<TOTAL-LIABILITY-AND-EQUITY>                   870,979
<PREMIUMS>                                     230,373
<INVESTMENT-INCOME>                             15,265
<INVESTMENT-GAINS>                              27,470
<OTHER-INCOME>                                       0
<BENEFITS>                                     221,228
<UNDERWRITING-AMORTIZATION>                     62,860
<UNDERWRITING-OTHER>                            10,443
<INCOME-PRETAX>                               (21,423)
<INCOME-TAX>                                   (8,528)
<INCOME-CONTINUING>                           (12,845)<F1>
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (12,845)<F1>
<EPS-BASIC>                                     (0.75)<F1>
<EPS-DILUTED>                                   (0.75)<F1>
<RESERVE-OPEN>                                 186,189
<PROVISION-CURRENT>                            190,522
<PROVISION-PRIOR>                               30,705
<PAYMENTS-CURRENT>                              31,530
<PAYMENTS-PRIOR>                                59,581
<RESERVE-CLOSE>                                316,305<F2>
<CUMULATIVE-DEFICIENCY>                         30,705
<FN>
<F1>Includes equity in net income of investees of $433 and a cumulative change in
accounting of (383). Net income excludes Other Comprehensive income (loss)
which the Company adopted 1st Qtr 1998 in a one financial statement approach.
Comprehensive loss was $37,265 or $2.18 per share Basic and Diluted.
<F2>Loss reserves net of reinsurance.
</FN>