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Item 1 - Financial Statements

Registrant hereby replaces Consolidated Statements of Income (unaudited)
with the following which corrects formatting errors, but does not amend or
restate any financial results.










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                               EXECUTIVE RISK INC.
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (UNAUDITED)


                                                       Three Months Ended June 30,      Six Months Ended June 30,
(In thousands, except per share data)                      1996           1995            1996            1995
                                                       ----------      ----------      ----------       ---------
                                                                                                  
REVENUES
   Gross premiums written                               $ 90,357        $ 51,619        $ 148,039        $ 87,252
   Premiums ceded                                        (33,043)        (13,578)         (51,874)        (23,741)
                                                        --------        --------        ---------        --------
      Net premiums written                                57,314          38,041           96,165          63,511

   Change in unearned premiums                           (20,889)        (10,029)         (25,827)        (10,212)
                                                        --------        --------        ---------        --------
       NET PREMIUMS EARNED                                36,425          28,012           70,338          53,299

   Net investment income                                   7,450           6,406           14,825          12,690
   Net realized capital (losses) gains                    (1,308)          1,717             (354)          1,268
   Other income (losses)                                     195             (95)             287               7
                                                        --------        --------        ---------        --------
        TOTAL REVENUES                                    42,762          36,040           85,096          67,264

EXPENSES
   Loss and loss adjustment expenses                      24,607          18,881           47,501          35,939
   Policy acquisition costs                                6,225           5,192           12,969          10,072
   General and administrative expenses                     3,912           2,520            7,080           4,874
   Long-term incentive compensation                                          173              187             593  
   Interest expense                                        1,296             500            1,874             971
                                                        --------        --------        ---------        --------
       TOTAL EXPENSES                                     36,040          27,266           69,611          52,449
                                                        --------        --------        ---------        --------
       INCOME BEFORE INCOME TAXES                          6,722           8,774           15,485          14,815

Income tax expense (benefit)

   Current                                                 3,899           2,177            5,634           3,246
   Deferred                                               (2,737)           (472)          (2,934)           (798)
                                                        --------        --------        ---------        --------
                                                           1,162           1,705            2,700           2,448
                                                        --------        --------        ---------        --------

        NET INCOME                                      $  5,560        $  7,069        $  12,785        $ 12,367
                                                        ========        ========        =========        ========

Earnings per common and common equivalent share         $   0.57        $   0.59        $    1.17        $   1.04

Weighted average shares outstanding                        9,809          11,850           10,910          11,799

Earnings per common and common equivalent share -
     assuming full dilution                             $   0.56        $   0.59        $    1.17        $   1.04

Weighted average shares outstanding -
     assuming full dilution                                9,856          11,903           10,950          11,861

Dividends declared per common share                     $   0.02        $   0.02        $    0.04        $   0.04




NOTE: The sum of the 1996 quarters' earnings per share does not equal the 
year-to-date per share amount.

The accompanying notes are an integral part of the consolidated financial
statements.

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