<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>
<MULTIPLIER>                  1,000
       
                             
<PERIOD-TYPE>                                YEAR
<FISCAL-YEAR-END>                     DEC-31-1997
<PERIOD-START>                        JAN-01-1997
<PERIOD-END>                          DEC-31-1997
<DEBT-HELD-FOR-SALE>                    1,401,089
<DEBT-CARRYING-VALUE>                           0  
<DEBT-MARKET-VALUE>                             0
<EQUITIES>                                 30,539
<MORTGAGE>                                      0  
<REAL-ESTATE>                                   0
<TOTAL-INVEST>                          1,431,628
<CASH>                                     12,475
<RECOVER-REINSURE>                         30,618
<DEFERRED-ACQUISITION>                    171,098
<TOTAL-ASSETS>                          1,900,644
<POLICY-LOSSES>                            75,417
<UNEARNED-PREMIUMS>                       595,196
<POLICY-OTHER>                                  0
<POLICY-HOLDER-FUNDS>                           0
<NOTES-PAYABLE>                           130,000
<PREFERRED-MANDATORY>                           0
<PREFERRED>                                   700
<COMMON>                                  694,174
<OTHER-SE>                                187,486
<TOTAL-LIABILITY-AND-EQUITY>            1,900,644
<PREMIUMS>                                109,511
<INVESTMENT-INCOME>                        72,085
<INVESTMENT-GAINS>                         11,522
<OTHER-INCOME>                              9,303
<BENEFITS>                                  9,156
<UNDERWRITING-AMORTIZATION>                27,962
<UNDERWRITING-OTHER>                       26,804
<INCOME-PRETAX>                           138,499
<INCOME-TAX>                               37,997
<INCOME-CONTINUING>                       100,502
<DISCONTINUED>                                  0 
<EXTRAORDINARY>                                 0 
<CHANGES>                                       0  
<NET-INCOME>                              100,502
<EPS-PRIMARY>                                3.35
<EPS-DILUTED>                                3.25
<RESERVE-OPEN>                             72,079
<PROVISION-CURRENT>                         5,400
<PROVISION-PRIOR>                           7,361
<PAYMENTS-CURRENT>                          2,850
<PAYMENTS-PRIOR>                            6,573
<RESERVE-CLOSE>                            75,417
<CUMULATIVE-DEFICIENCY>                         0