<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) OF MAIC HOLDINGS, INC.
AND SUBSIDIARIES FOR THE THREE MONTHS ENDED MARCH 31, 1997, AND IS QULIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<EXCHANGE-RATE>                                      1
<DEBT-HELD-FOR-SALE>                           571,030
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      31,688
<MORTGAGE>                                           0<F1>
<REAL-ESTATE>                                   12,406
<TOTAL-INVEST>                                 662,518
<CASH>                                          21,638
<RECOVER-REINSURE>                             120,971
<DEFERRED-ACQUISITION>                               0<F1>
<TOTAL-ASSETS>                                 954,679
<POLICY-LOSSES>                                571,497
<UNEARNED-PREMIUMS>                             68,590
<POLICY-OTHER>                                  44,046
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0<F1>
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        10,339
<OTHER-SE>                                     235,682
<TOTAL-LIABILITY-AND-EQUITY>                   954,679
<PREMIUMS>                                      28,402
<INVESTMENT-INCOME>                              9,458
<INVESTMENT-GAINS>                                 198
<OTHER-INCOME>                                     413
<BENEFITS>                                      20,237
<UNDERWRITING-AMORTIZATION>                      2,977
<UNDERWRITING-OTHER>                             4,164
<INCOME-PRETAX>                                 11,093
<INCOME-TAX>                                     2,679
<INCOME-CONTINUING>                              8,414
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     8,414
<EPS-PRIMARY>                                      .82
<EPS-DILUTED>                                        0
<RESERVE-OPEN>                                 548,742
<PROVISION-CURRENT>                             36,975
<PROVISION-PRIOR>                               (6,800)
<PAYMENTS-CURRENT>                              (1,653)
<PAYMENTS-PRIOR>                                (5,767)
<RESERVE-CLOSE>                                571,497
<CUMULATIVE-DEFICIENCY>                          6,800
<FN>
<F1>DEFERRED POLICY ACQUISITION COSTS AND MORTGAGE NOTES PAYABLE ARE NOT SEPARATELY
DISCLOSED IN FORM 10-Q BECAUSE ITEMS ARE IMMATERIAL FOR INDIVIDUAL DISCLOSURE.
DEFERRED POLICY ACQUISITION COSTS ARE INCLUDED AS A COMPONENT OF OTHER ASSETS,
AND MORTGAGE NOTES PAYABLE ARE INCLUDED AS A COMPONENT OF OTHER LIABILITIES.
</FN>