CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


The Board of Directors
Gryphon Holdings Inc.:

We  consent to the incorporation by reference in the Registration
Statements (Nos. 333-12775, 33-96922, and 33-83630) on  Form  S-8
of  Gryphon Holdings Inc. of our report dated February 14,  1997,
relating  to  the consolidated balance sheets of Gryphon  Holdings
Inc.  and  subsidiaries as of December 31, 1996 and 1995, and the
related consolidated statements of income, stockholders' equity, 
and cash flows for each of the years in the two year period then
ended, and  all  related schedules as of and for the years ended
December 31, 1996 and 1995, which report appears in the December
31, 1996 annual report on Form 10-K of Gryphon Holdings Inc.





                                   KPMG Peat Marwick LLP



New York, New York
March 26, 1997