<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