<ARTICLE> 7 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> DEC-31-1999 <DEBT-HELD-FOR-SALE> 329,962,000 <DEBT-CARRYING-VALUE> 321,247,527 <DEBT-MARKET-VALUE> 321,247,527 <EQUITIES> 24,840,360 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 509,568,077 <CASH> 14,735,040 <RECOVER-REINSURE> 106,702,307 <DEFERRED-ACQUISITION> 7,809,971 <TOTAL-ASSETS> 780,180,109 <POLICY-LOSSES> 261,551,353 <UNEARNED-PREMIUMS> 42,218,837 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 75,000,000 <COMMON> 11,679,769 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 251,599,214 <TOTAL-LIABILITY-AND-EQUITY> 780,180,109 <PREMIUMS> 128,503,110 <INVESTMENT-INCOME> 47,172,616 <INVESTMENT-GAINS> (3,765,816) <OTHER-INCOME> 3,590,337 <BENEFITS> 159,259,413 <UNDERWRITING-AMORTIZATION> 27,701,644 <UNDERWRITING-OTHER> 30,052,310 <INCOME-PRETAX> (54,218,324) <INCOME-TAX> (12,774,971) <INCOME-CONTINUING> (41,443,353) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> (695,278) <NET-INCOME> (42,138,631) <EPS-BASIC> (3.64) <EPS-DILUTED> (3.64) <RESERVE-OPEN> 102,592,394 <PROVISION-CURRENT> 220,132,079 <PROVISION-PRIOR> 37,129,370 <PAYMENTS-CURRENT> 17,508,053 <PAYMENTS-PRIOR> 80,794,439 <RESERVE-CLOSE> 261,551,354 <CUMULATIVE-DEFICIENCY> 37,129,370