<ARTICLE> 7 <LEGEND> This schedule contains summary financial information extracted from the interim consolidated balance sheet and income statement of Allmerica Financial Corporation as of March 31, 1996 and for the period then ended, and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <DEBT-HELD-FOR-SALE> 7943 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 426 <MORTGAGE> 741 <REAL-ESTATE> 169 <TOTAL-INVEST> 9479 <CASH> 139 <RECOVER-REINSURE> 48 <DEFERRED-ACQUISITION> 769 <TOTAL-ASSETS> 18163 <POLICY-LOSSES> 2645 <UNEARNED-PREMIUMS> 818 <POLICY-OTHER> 3060 <POLICY-HOLDER-FUNDS> 2498 <NOTES-PAYABLE> 392 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1 <OTHER-SE> 1555 <TOTAL-LIABILITY-AND-EQUITY> 18163 <PREMIUMS> 548 <INVESTMENT-INCOME> 161 <INVESTMENT-GAINS> 52 <OTHER-INCOME> 68<F1> <BENEFITS> 497 <UNDERWRITING-AMORTIZATION> 120 <UNDERWRITING-OTHER> 116 <INCOME-PRETAX> 96 <INCOME-TAX> 24 <INCOME-CONTINUING> 72 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 47 <EPS-PRIMARY> 0.94 <EPS-DILUTED> 0.94 <RESERVE-OPEN> 2896 <PROVISION-CURRENT> 378 <PROVISION-PRIOR> (31) <PAYMENTS-CURRENT> 111 <PAYMENTS-PRIOR> 233 <RESERVE-CLOSE> 2869 <CUMULATIVE-DEFICIENCY> (30) <FN> <F1>Includes universal life and investment product policy fees of $46 million. </FN>