CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS




We  consent to the incorporation by reference in the Registration
Statements  (Form  S-8  Nos. 333-12775, 33-96922,  and  33-83630)
pertaining to the 1995 Non-Employee Director Stock Option Plan of
Gryphon  Holdings Inc., 401(k) and Profit Sharing Plan of Gryphon
Holdings  Inc.,  and  the 1993 Stock Option Plan  and  Restricted
Stock  Plan of Gryphon Holdings Inc., respectively, of our report
dated  February  21, 1995, with respect to the 1994  consolidated
financial  statements  and  schedules of  Gryphon  Holdings  Inc.
included  in  the Annual Report (Form 10-K) for  the  year  ended
December 31, 1996.





                                   ERNST & YOUNG LLP



New York, New York
March 19, 1997