<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY OF AMERICA
FOR THE THREE MONTHS ENDED MARCH 31, 1995, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL INFORMATION.
</LEGEND>
<RESTATED>
<MULTIPLIER>  1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               MAR-31-1995
<DEBT-HELD-FOR-SALE>                        11,838,600
<DEBT-CARRYING-VALUE>                           45,400
<DEBT-MARKET-VALUE>                             45,900
<EQUITIES>                                       6,200
<MORTGAGE>                                   1,423,700
<REAL-ESTATE>                                  231,300
<TOTAL-INVEST>                              14,961,500
<CASH>                                          25,900
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                         618,000
<TOTAL-ASSETS>                              17,020,200
<POLICY-LOSSES>                              7,032,500<F1>
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                 356,800
<POLICY-HOLDER-FUNDS>                        7,189,400
<NOTES-PAYABLE>                                225,300
<COMMON>                                        45,400
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    156,200
<OTHER-SE>                                   1,202,700
<TOTAL-LIABILITY-AND-EQUITY>                17,020,200
<PREMIUMS>                                     361,000
<INVESTMENT-INCOME>                            313,000
<INVESTMENT-GAINS>                              (3,900)
<OTHER-INCOME>                                  43,700
<BENEFITS>                                     546,900
<UNDERWRITING-AMORTIZATION>                     17,100
<UNDERWRITING-OTHER>                           126,800
<INCOME-PRETAX>                                 19,600
<INCOME-TAX>                                     7,300
<INCOME-CONTINUING>                             12,300
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    12,300
<EPS-PRIMARY>                                     0.20
<EPS-DILUTED>                                        0
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0
<FN>
<F1>"POLICY - LOSSES" INCLUDES RESERVES FOR FUTURE POLICY AND CONTRACT BENEFITS OF
$6,973,600 AND UNEARNED PREMIUMS OF $58,900.
</FN>