<ARTICLE> 7 <LEGEND> THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED BALANCE SHEET AND THE CONSOLIDATED STATEMENT OF OPERATIONS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <DEBT-HELD-FOR-SALE> 2,614,091<F1> <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 0 <MORTGAGE> 35,109 <REAL-ESTATE> 7,681 <TOTAL-INVEST> 2,748,843 <CASH> 5,850 <RECOVER-REINSURE> 0 <DEFERRED-ACQUISITION> 82,344 <TOTAL-ASSETS> 3,859,767 <POLICY-LOSSES> 2,157,750<F2> <UNEARNED-PREMIUMS> 153,887 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 120,281 <NOTES-PAYABLE> 133,573 <COMMON> 29 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 467,125 <TOTAL-LIABILITY-AND-EQUITY> 3,859,767 <PREMIUMS> 131,419 <INVESTMENT-INCOME> 49,787 <INVESTMENT-GAINS> 857 <OTHER-INCOME> 0 <BENEFITS> 114,884 <UNDERWRITING-AMORTIZATION> 10,840 <UNDERWRITING-OTHER> 24,509 <INCOME-PRETAX> 26,670 <INCOME-TAX> 7,270 <INCOME-CONTINUING> 19,400 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 19,400 <EPS-PRIMARY> 0.82 <EPS-DILUTED> 0.82 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0 <FN> <F1> Refer to Note 3 - Investments of the Company's Consolidated Notes to Financial Statements for March 31, 1997. <F2> Refer to the Company's Consolidated Balance Sheet as of March 31, 1997. </FN>