<ARTICLE> 7 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE UNAUDITED STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND THE UNAUDITED BALANCE SHEET AS OF MARCH 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <DEBT-HELD-FOR-SALE> 3,130,265 <DEBT-CARRYING-VALUE> 9,417,822 <DEBT-MARKET-VALUE> 9,226,605 <EQUITIES> 0 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 12,548,087 <CASH> 2,718,356 <RECOVER-REINSURE> 169,842 <DEFERRED-ACQUISITION> 563,474 <TOTAL-ASSETS> 38,848,504 <POLICY-LOSSES> 27,825,314 <UNEARNED-PREMIUMS> 2,443,710 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 5,715,360 <COMMON> 102,501 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 38,848,504 <PREMIUMS> 1,937,698 <INVESTMENT-INCOME> 248,041 <INVESTMENT-GAINS> 0 <OTHER-INCOME> 167,757 <BENEFITS> 1,382,313 <UNDERWRITING-AMORTIZATION> 152,000 <UNDERWRITING-OTHER> 696,359 <INCOME-PRETAX> 117,824 <INCOME-TAX> 40,000 <INCOME-CONTINUING> 77,824 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 77,824 <EPS-PRIMARY> .76 <EPS-DILUTED> .76 <RESERVE-OPEN> 28,306,416 <PROVISION-CURRENT> 1,382,313 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 256,104 <PAYMENTS-PRIOR> 2,675,602 <RESERVE-CLOSE> 27,825,314 <CUMULATIVE-DEFICIENCY> 0