<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-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<EXCHANGE-RATE>                                      1
<DEBT-HELD-FOR-SALE>                           982,690
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      68,654
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                               1,051,344
<CASH>                                          65,991
<RECOVER-REINSURE>                               4,626
<DEFERRED-ACQUISITION>                          36,952
<TOTAL-ASSETS>                               1,560,860
<POLICY-LOSSES>                                693,609
<UNEARNED-PREMIUMS>                            291,756
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                 75,000
<PREFERRED-MANDATORY>                          125,000
<PREFERRED>                                          0
<COMMON>                                           120
<OTHER-SE>                                     292,385
<TOTAL-LIABILITY-AND-EQUITY>                 1,560,860
<PREMIUMS>                                      59,785
<INVESTMENT-INCOME>                             15,139
<INVESTMENT-GAINS>                               1,775
<OTHER-INCOME>                                      83
<BENEFITS>                                      40,116
<UNDERWRITING-AMORTIZATION>                     10,617
<UNDERWRITING-OTHER>                            11,429
<INCOME-PRETAX>                                 14,620
<INCOME-TAX>                                     3,141
<INCOME-CONTINUING>                             11,479
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    11,479
<EPS-PRIMARY>                                     1.06
<EPS-DILUTED>                                     0.98
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0