<ARTICLE> 7 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <DEBT-HELD-FOR-SALE> 210,065 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 1,980 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 228,535 <CASH> 16,490 <RECOVER-REINSURE> 2,295 <DEFERRED-ACQUISITION> 5,987 <TOTAL-ASSETS> 401,508 <POLICY-LOSSES> 180,333 <UNEARNED-PREMIUMS> 14,610 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 30 <PREFERRED-MANDATORY> 34,316 <PREFERRED> 101,291 <COMMON> 0 <OTHER-SE> 27,492 <TOTAL-LIABILITY-AND-EQUITY> 401,508 <PREMIUMS> 30,587 <INVESTMENT-INCOME> 4,253 <INVESTMENT-GAINS> 400 <OTHER-INCOME> 0 <BENEFITS> 18,288 <UNDERWRITING-AMORTIZATION> 5,123 <UNDERWRITING-OTHER> 4,868 <INCOME-PRETAX> 6,078 <INCOME-TAX> 2,311 <INCOME-CONTINUING> 3,767 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,895 <EPS-PRIMARY> 0 <EPS-DILUTED> 0.24 <RESERVE-OPEN> 152,100<F1> <PROVISION-CURRENT> 18,280 <PROVISION-PRIOR> 7 <PAYMENTS-CURRENT> 1,165 <PAYMENTS-PRIOR> 42,194 <RESERVE-CLOSE> 127,028 <CUMULATIVE-DEFICIENCY> 7 <FN> <F1>RESERVES FOR UNPAID CLAIMS, PROVISION FOR INSURED EVENTS, AND PAYMENTS OF CLAIMS ARE STATED NET OF REINSURANCE. </FN>