<ARTICLE> 7 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> DEC-31-1998 <DEBT-HELD-FOR-SALE> 0 <DEBT-CARRYING-VALUE> 5,606,374 <DEBT-MARKET-VALUE> 146,645,842 <EQUITIES> 862,287 <MORTGAGE> 1,560,757 <REAL-ESTATE> 595,271 <TOTAL-INVEST> 176,572,123 <CASH> 9,868,728 <RECOVER-REINSURE> 1,755,561 <DEFERRED-ACQUISITION> 37,259,386 <TOTAL-ASSETS> 253,384,195 <POLICY-LOSSES> 160,176,329 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 11,633,737 <POLICY-HOLDER-FUNDS> 1,873,588 <NOTES-PAYABLE> 333,333 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 53,073,905 <OTHER-SE> 21,829,774 <TOTAL-LIABILITY-AND-EQUITY> 253,384,195 <PREMIUMS> 59,154,329 <INVESTMENT-INCOME> 11,279,125 <INVESTMENT-GAINS> 1,614,388 <OTHER-INCOME> 664,084 <BENEFITS> 43,333,572 <UNDERWRITING-AMORTIZATION> 10,926,749 <UNDERWRITING-OTHER> 0 <INCOME-PRETAX> (5,677,265) <INCOME-TAX> 1,043,428 <INCOME-CONTINUING> (6,720,693) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (6,720,693) <EPS-PRIMARY> (0.31) <EPS-DILUTED> (0.31) <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0