<ARTICLE> 7
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND CONSOLIDATED STATEMENT OF INCOME OF PICO
HOLDINGS, INC. AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               MAR-31-2000
<DEBT-HELD-FOR-SALE>                            46,295
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      73,699
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 137,755
<CASH>                                          84,838
<RECOVER-REINSURE>                               2,210
<DEFERRED-ACQUISITION>                           4,832
<TOTAL-ASSETS>                                 418,541
<POLICY-LOSSES>                                136,033
<UNEARNED-PREMIUMS>                             18,213
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            17
<OTHER-SE>                                     216,382
<TOTAL-LIABILITY-AND-EQUITY>                   418,541
<PREMIUMS>                                       7,514
<INVESTMENT-INCOME>                              1,502
<INVESTMENT-GAINS>                                (59)
<OTHER-INCOME>                                     745
<BENEFITS>                                       6,482
<UNDERWRITING-AMORTIZATION>                      2,301
<UNDERWRITING-OTHER>                             6,203
<INCOME-PRETAX>                                (5,117)
<INCOME-TAX>                                     (793)
<INCOME-CONTINUING>                            (4,325)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (4,325)
<EPS-BASIC>                                     (0.47)
<EPS-DILUTED>                                   (0.47)
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0