<ARTICLE> 7 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE REGISTRANT AND IS QUALIFED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLAR <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <EXCHANGE-RATE> 1 <DEBT-HELD-FOR-SALE> 1,708,304 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 6,992 <MORTGAGE> 99,359 <REAL-ESTATE> 0 <TOTAL-INVEST> 2,471,165 <CASH> 11,666 <RECOVER-REINSURE> 71,798 <DEFERRED-ACQUISITION> 245,438 <TOTAL-ASSETS> 3,148,016 <POLICY-LOSSES> 2,064,324 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 249,841 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 106,377 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 174 <OTHER-SE> 407,538 <TOTAL-LIABILITY-AND-EQUITY> 3,148,016 <PREMIUMS> 205,372 <INVESTMENT-INCOME> 41,849 <INVESTMENT-GAINS> 387 <OTHER-INCOME> 4,155 <BENEFITS> 195,882 <UNDERWRITING-AMORTIZATION> 14,370 <UNDERWRITING-OTHER> 26,097 <INCOME-PRETAX> 2,947 <INCOME-TAX> (1) <INCOME-CONTINUING> 2,948 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,828 <EPS-PRIMARY> 0.16 <EPS-DILUTED> 0.16 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0