<ARTICLE> 7 <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <EXCHANGE-RATE> 1 <DEBT-HELD-FOR-SALE> 205,214 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 1,526 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 242,116 <CASH> 35,376 <RECOVER-REINSURE> 3,927 <DEFERRED-ACQUISITION> 5,879 <TOTAL-ASSETS> 416,569 <POLICY-LOSSES> 201,255 <UNEARNED-PREMIUMS> 12,913 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 30 <PREFERRED-MANDATORY> 101,277 <PREFERRED> 0 <COMMON> 34,301 <OTHER-SE> 25,517 <TOTAL-LIABILITY-AND-EQUITY> 416,569 <PREMIUMS> 140,920 <INVESTMENT-INCOME> 12,674 <INVESTMENT-GAINS> 44 <OTHER-INCOME> 0 <BENEFITS> 90,447 <UNDERWRITING-AMORTIZATION> 19,977 <UNDERWRITING-OTHER> 17,718 <INCOME-PRETAX> 17,261 <INCOME-TAX> 6,437 <INCOME-CONTINUING> 10,824 <DISCONTINUED> 0 <EXTRAORDINARY> (12,896) <CHANGES> 0 <NET-INCOME> (5,141) <EPS-PRIMARY> (0.98) <EPS-DILUTED> (0.00) <RESERVE-OPEN> 195,131 <PROVISION-CURRENT> 95,826 <PROVISION-PRIOR> (5,379) <PAYMENTS-CURRENT> 37,945 <PAYMENTS-PRIOR> 95,533 <RESERVE-CLOSE> 152,100 <CUMULATIVE-DEFICIENCY> (5,379) <FN> <F1>Reserves for unpaid claims, provision for insured events, and payments of claims are stated net of reinsurance. Reserves for unpaid claims - beginning of year include Pac Rim reserves at acquisition. </FN>