<ARTICLE> 7
<LEGEND>
THIS 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>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               SEP-30-1999
<DEBT-HELD-FOR-SALE>                            49,058
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      83,844
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 148,680
<CASH>                                          44,262
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                           4,932
<TOTAL-ASSETS>                                 449,565
<POLICY-LOSSES>                                144,668
<UNEARNED-PREMIUMS>                             17,557
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            13
<OTHER-SE>                                     192,678
<TOTAL-LIABILITY-AND-EQUITY>                   449,565
<PREMIUMS>                                      25,350
<INVESTMENT-INCOME>                              5,377
<INVESTMENT-GAINS>                               3,588
<OTHER-INCOME>                                   3,549
<BENEFITS>                                      18,364
<UNDERWRITING-AMORTIZATION>                      8,316
<UNDERWRITING-OTHER>                            15,396
<INCOME-PRETAX>                                (4,114)
<INCOME-TAX>                                   (8,000)
<INCOME-CONTINUING>                              3,887
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                    442
<CHANGES>                                            0
<NET-INCOME>                                     4,329
<EPS-BASIC>                                       0.48
<EPS-DILUTED>                                     0.46
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0