<ARTICLE>                                           7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 
Financial Security Assurance Holdings, Ltd.
</LEGEND>
<MULTIPLIER>                                   1000       
       
                             
<PERIOD-TYPE>                   9-MOS   
<FISCAL-YEAR-END>                              DEC-31-1996
<PERIOD-START>                                 JAN-01-1996
<PERIOD-END>                                   SEP-30-1996
<DEBT-HELD-FOR-SALE>                             1,164,052
<DEBT-CARRYING-VALUE>                                    0
<DEBT-MARKET-VALUE>                                      0
<EQUITIES>                                           7,801
<MORTGAGE>                                               0
<REAL-ESTATE>                                            0
<TOTAL-INVEST>                                   1,171,854
<CASH>                                               7,394
<RECOVER-REINSURE>                                  36,350
<DEFERRED-ACQUISITION>                             139,083
<TOTAL-ASSETS>                                   1,548,397
<POLICY-LOSSES>                                     81,452
<UNEARNED-PREMIUMS>                                505,955
<POLICY-OTHER>                                           0
<POLICY-HOLDER-FUNDS>                                    0
<NOTES-PAYABLE>                                     30,000
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                            700
<COMMON>                                           695,441
<OTHER-SE>                                          92,395
<TOTAL-LIABILITY-AND-EQUITY>                     1,548,397
<PREMIUMS>                                          64,121
<INVESTMENT-INCOME>                                 48,135
<INVESTMENT-GAINS>                                  (1,826)
<OTHER-INCOME>                                         224
<BENEFITS>                                           4,637
<UNDERWRITING-AMORTIZATION>                         18,081
<UNDERWRITING-OTHER>                                11,919
<INCOME-PRETAX>                                     74,393
<INCOME-TAX>                                        18,891
<INCOME-CONTINUING>                                 55,502
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                        55,502
<EPS-PRIMARY>                                         1.81
<EPS-DILUTED>                                         1.81
<RESERVE-OPEN>                                     111,759
<PROVISION-CURRENT>                                  4,637
<PROVISION-PRIOR>                                        0
<PAYMENTS-CURRENT>                                       0
<PAYMENTS-PRIOR>                                    34,944
<RESERVE-CLOSE>                                     81,452
<CUMULATIVE-DEFICIENCY>                                  0