<ARTICLE>                     7
<CIK>                         0000935724
<NAME>                        THE PMI GROUP INC.
<MULTIPLIER>                  1,000
       
                           
<PERIOD-TYPE>                 6-MOS
<FISCAL-YEAR-END>                    DEC-31-1996
<PERIOD-START>                       JAN-01-1996
<PERIOD-END>                         JUN-30-1996
<DEBT-HELD-FOR-SALE>                   1,000,820
<DEBT-CARRYING-VALUE>                          0
<DEBT-MARKET-VALUE>                            0
<EQUITIES>                               105,907
<MORTGAGE>                                     0
<REAL-ESTATE>                                  0
<TOTAL-INVEST>                         1,131,624
<CASH>                                     3,853
<RECOVER-REINSURE>                        82,528
<DEFERRED-ACQUISITION>                    22,939
<TOTAL-ASSETS>                         1,331,542
<POLICY-LOSSES>                          195,091
<UNEARNED-PREMIUMS>                      117,287
<POLICY-OTHER>                                 0
<POLICY-HOLDER-FUNDS>                          0
<NOTES-PAYABLE>                                0
<COMMON>                                     350
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<OTHER-SE>                               923,188
<TOTAL-LIABILITY-AND-EQUITY>           1,331,542
<PREMIUMS>                               188,284
<INVESTMENT-INCOME>                       33,488
<INVESTMENT-GAINS>                         9,984
<OTHER-INCOME>                             3,206
<BENEFITS>                                63,503
<UNDERWRITING-AMORTIZATION>               25,883
<UNDERWRITING-OTHER>                      36,006
<INCOME-PRETAX>                          109,570
<INCOME-TAX>                              31,360
<INCOME-CONTINUING>                       78,210
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                              78,210
<EPS-PRIMARY>                               2.23
<EPS-DILUTED>                               2.23
<RESERVE-OPEN>                           192,087
<PROVISION-CURRENT>                       60,803
<PROVISION-PRIOR>                          2,700
<PAYMENTS-CURRENT>                           521
<PAYMENTS-PRIOR>                          59,978
<RESERVE-CLOSE>                          195,091
<CUMULATIVE-DEFICIENCY>                        0