<ARTICLE> 7
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND CONSOLIDATED STATEMENT OF INCOME OF PICO
HOLDINGS, INC. AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               MAR-31-1999
<DEBT-HELD-FOR-SALE>                            31,536
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                     107,431
<MORTGAGE>                                           0
<REAL-ESTATE>                                    2,022
<TOTAL-INVEST>                                 163,934
<CASH>                                          54,670
<RECOVER-REINSURE>                               1,054
<DEFERRED-ACQUISITION>                           5,372
<TOTAL-ASSETS>                                 428,813
<POLICY-LOSSES>                                153,514
<UNEARNED-PREMIUMS>                             18,843
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                               13
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                     193,104
<TOTAL-LIABILITY-AND-EQUITY>                   428,813
<PREMIUMS>                                       8,555
<INVESTMENT-INCOME>                              1,914
<INVESTMENT-GAINS>                               (344)
<OTHER-INCOME>                                     385
<BENEFITS>                                       6,516
<UNDERWRITING-AMORTIZATION>                      2,606
<UNDERWRITING-OTHER>                             3,892
<INCOME-PRETAX>                                (2,866)
<INCOME-TAX>                                     (477)
<INCOME-CONTINUING>                            (2,389)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (2,389)
<EPS-BASIC>                                     (0.27)
<EPS-DILUTED>                                   (0.27)
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0