<ARTICLE> 7 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> APR-01-1999 <PERIOD-END> JUN-30-1999 <DEBT-HELD-FOR-SALE> 239,646,439 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 0 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 239,646,439 <CASH> 3,469,533 <RECOVER-REINSURE> 0 <DEFERRED-ACQUISITION> 0 <TOTAL-ASSETS> 352,359,109 <POLICY-LOSSES> 104,027,579 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 185,764 <OTHER-SE> 246,889,862 <TOTAL-LIABILITY-AND-EQUITY> 352,359,109 <PREMIUMS> 0 <INVESTMENT-INCOME> 4,124,756 <INVESTMENT-GAINS> (518,911) <OTHER-INCOME> 250,496 <BENEFITS> 319,666 <UNDERWRITING-AMORTIZATION> 24,014 <UNDERWRITING-OTHER> 116,769 <INCOME-PRETAX> 2,190,809 <INCOME-TAX> 0 <INCOME-CONTINUING> 2,190,809 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,190,809 <EPS-BASIC> 0.12 <EPS-DILUTED> 0.12 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0