<ARTICLE> 7 <RESTATED> <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <DEBT-HELD-FOR-SALE> 204,732 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 849 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 213,194 <CASH> 25,610 <RECOVER-REINSURE> 852 <DEFERRED-ACQUISITION> 5,834 <TOTAL-ASSETS> 411,228 <POLICY-LOSSES> 222,625 <UNEARNED-PREMIUMS> 14,988 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 1,370 <NOTES-PAYABLE> 42,366 <PREFERRED-MANDATORY> 25,672 <PREFERRED> 0 <COMMON> 34,128 <OTHER-SE> 22,676 <TOTAL-LIABILITY-AND-EQUITY> 411,228 <PREMIUMS> 99,148 <INVESTMENT-INCOME> 9,244 <INVESTMENT-GAINS> 46 <OTHER-INCOME> 0 <BENEFITS> 66,311 <UNDERWRITING-AMORTIZATION> 13,647 <UNDERWRITING-OTHER> 14,115 <INCOME-PRETAX> (7,976) <INCOME-TAX> (2,517) <INCOME-CONTINUING> (5,459) <DISCONTINUED> 0 <EXTRAORDINARY> (796) <CHANGES> 0 <NET-INCOME> (7,642) <EPS-PRIMARY> 0 <EPS-DILUTED> (1.52) <RESERVE-OPEN> 195,131 <PROVISION-CURRENT> 61,472 <PROVISION-PRIOR> 4,839 <PAYMENTS-CURRENT> 12,362 <PAYMENTS-PRIOR> 80,490 <RESERVE-CLOSE> 168,590 <CUMULATIVE-DEFICIENCY> 4,839 <FN> 1. RESERVES FOR UNPAID CLAIMS, PROVISION FOR INSURED EVENTS, AND PAYMENTS OF CLAIMS ARE STATED NET OF REINSURANCE 2. OPENING RESERVES INCLUDE AMOUNTS FROM PAC RIM AT ACQUISITION </FN>