<ARTICLE> 7 <LEGEND> </LEGEND> <CIK> 0000897430 <NAME> TIG HOLDINGS, INC. <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <DEBT-HELD-FOR-SALE> 0 <DEBT-CARRYING-VALUE> 4,111 <DEBT-MARKET-VALUE> 4,111 <EQUITIES> 0 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 4,284 <CASH> 24 <RECOVER-REINSURE> 1,254 <DEFERRED-ACQUISITION> 152 <TOTAL-ASSETS> 6,555 <POLICY-LOSSES> 3,695 <UNEARNED-PREMIUMS> 708 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 124 <PREFERRED-MANDATORY> 25 <PREFERRED> 0 <COMMON> 1,206 <OTHER-SE> 259 <TOTAL-LIABILITY-AND-EQUITY> 6,555 <PREMIUMS> 353 <INVESTMENT-INCOME> 75 <INVESTMENT-GAINS> 1 <OTHER-INCOME> 0 <BENEFITS> 253 <UNDERWRITING-AMORTIZATION> 0 <UNDERWRITING-OTHER> 109 <INCOME-PRETAX> 54 <INCOME-TAX> (18) <INCOME-CONTINUING> 36 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 36 <EPS-PRIMARY> 0.63 <EPS-DILUTED> 0.63 <RESERVE-OPEN> 3,695 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 3,695 <CUMULATIVE-DEFICIENCY> 0