<ARTICLE>                     7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
SECURITY ASSURANCE HOLDINGS LTD. AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER>                  1,000
       
                             
<PERIOD-TYPE>                               6-MOS
<FISCAL-YEAR-END>                     DEC-31-1997
<PERIOD-START>                        JAN-01-1997
<PERIOD-END>                          JUN-30-1997
<DEBT-HELD-FOR-SALE>                    1,254,681
<DEBT-CARRYING-VALUE>                           0
<DEBT-MARKET-VALUE>                             0
<EQUITIES>                                 11,354
<MORTGAGE>                                      0
<REAL-ESTATE>                                   0
<TOTAL-INVEST>                          1,266,035
<CASH>                                     21,474
<RECOVER-REINSURE>                         29,799
<DEFERRED-ACQUISITION>                    150,581
<TOTAL-ASSETS>                          1,694,604
<POLICY-LOSSES>                            74,013
<UNEARNED-PREMIUMS>                       570,363
<POLICY-OTHER>                                  0   
<POLICY-HOLDER-FUNDS>                           0
<NOTES-PAYABLE>                            30,000
<PREFERRED-MANDATORY>                           0  
<PREFERRED>                                   700
<COMMON>                                  694,973
<OTHER-SE>                                145,526
<TOTAL-LIABILITY-AND-EQUITY>            1,694,604
<PREMIUMS>                                 52,335
<INVESTMENT-INCOME>                        33,482
<INVESTMENT-GAINS>                          1,333
<OTHER-INCOME>                              3,257
<BENEFITS>                                  4,441
<UNDERWRITING-AMORTIZATION>                13,349
<UNDERWRITING-OTHER>                       10,293
<INCOME-PRETAX>                            62,324
<INCOME-TAX>                               16,841
<INCOME-CONTINUING>                        45,483
<DISCONTINUED>                                  0
<EXTRAORDINARY>                                 0
<CHANGES>                                       0
<NET-INCOME>                               45,483
<EPS-PRIMARY>                                1.51
<EPS-DILUTED>                                1.48
<RESERVE-OPEN>                             72,079
<PROVISION-CURRENT>                         5,325
<PROVISION-PRIOR>                               0  
<PAYMENTS-CURRENT>                              0  
<PAYMENTS-PRIOR>                            3,391
<RESERVE-CLOSE>                            74,013
<CUMULATIVE-DEFICIENCY>                         0