<ARTICLE> 7 <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <DEBT-HELD-FOR-SALE> 30 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 23 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 1,121 <CASH> 19 <RECOVER-REINSURE> 2,720 <DEFERRED-ACQUISITION> 0 <TOTAL-ASSETS> 4,689 <POLICY-LOSSES> 5,405 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 573 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (1,545) <TOTAL-LIABILITY-AND-EQUITY> 4,689 <PREMIUMS> 3 <INVESTMENT-INCOME> 27 <INVESTMENT-GAINS> 2 <OTHER-INCOME> (8) <BENEFITS> 1 <UNDERWRITING-AMORTIZATION> 0 <UNDERWRITING-OTHER> 19 <INCOME-PRETAX> (9) <INCOME-TAX> (1) <INCOME-CONTINUING> (8) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (8) <EPS-PRIMARY> 0 <EPS-DILUTED> 0 <RESERVE-OPEN> 5,687 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 5,405 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0