<ARTICLE> 7 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> DEC-31-1996 <DEBT-HELD-FOR-SALE> 1 <DEBT-CARRYING-VALUE> 215,072,441 <DEBT-MARKET-VALUE> 0 <EQUITIES> 10,281,459 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 239,260,677 <CASH> 1,459,775 <RECOVER-REINSURE> 143,345,057 <DEFERRED-ACQUISITION> 3,657,718 <TOTAL-ASSETS> 457,095,319 <POLICY-LOSSES> 269,601,050 <UNEARNED-PREMIUMS> 33,916,832 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 17,942,034 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 823,790 <OTHER-SE> 114,718,646 <TOTAL-LIABILITY-AND-EQUITY> 457,095,319 <PREMIUMS> 78,731,102 <INVESTMENT-INCOME> 13,614,475 <INVESTMENT-GAINS> 503,319 <OTHER-INCOME> 11,327,400 <BENEFITS> 48,976,951 <UNDERWRITING-AMORTIZATION> 12,171,208 <UNDERWRITING-OTHER> 20,417,251 <INCOME-PRETAX> 20,874,352 <INCOME-TAX> 4,121,914 <INCOME-CONTINUING> 16,752,438 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 16,752,438 <EPS-PRIMARY> 2.02 <EPS-DILUTED> 2.02 <RESERVE-OPEN> 138,760,610 <PROVISION-CURRENT> 51,429,000 <PROVISION-PRIOR> (2,452,000) <PAYMENTS-CURRENT> 15,439,000 <PAYMENTS-PRIOR> 39,741,000 <RESERVE-CLOSE> 132,558,000 <CUMULATIVE-DEFICIENCY> (2,452,000)