<ARTICLE> 7
<LEGEND>
This schedule contains summary financial information extracted from the
Company's first quarter 10-Q and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<MULTIPLIER> 1,000 
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<EXCHANGE-RATE>                                      1
<DEBT-HELD-FOR-SALE>                           664,303
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      41,556
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 705,859
<CASH>                                          70,671
<RECOVER-REINSURE>                               1,785
<DEFERRED-ACQUISITION>                          24,905
<TOTAL-ASSETS>                               1,055,177
<POLICY-LOSSES>                                499,316
<UNEARNED-PREMIUMS>                            210,697
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                          125,000
<PREFERRED>                                          0
<COMMON>                                           105
<OTHER-SE>                                     147,075
<TOTAL-LIABILITY-AND-EQUITY>                 1,055,177
<PREMIUMS>                                      46,229
<INVESTMENT-INCOME>                             10,105
<INVESTMENT-GAINS>                               1,006
<OTHER-INCOME>                                     146
<BENEFITS>                                      31,321
<UNDERWRITING-AMORTIZATION>                      7,481
<UNDERWRITING-OTHER>                             8,584
<INCOME-PRETAX>                                 10,100
<INCOME-TAX>                                     1,686
<INCOME-CONTINUING>                              8,414
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     8,414
<EPS-PRIMARY>                                     0.83
<EPS-DILUTED>                                     0.83
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0