<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-31-1996
<PERIOD-START>                        JAN-01-1996
<PERIOD-END>                          JUN-30-1996
<DEBT-HELD-FOR-SALE>                    1,132,858
<DEBT-CARRYING-VALUE>                           0
<DEBT-MARKET-VALUE>                             0
<EQUITIES>                                  6,581
<MORTGAGE>                                      0
<REAL-ESTATE>                                   0
<TOTAL-INVEST>                          1,139,439
<CASH>                                      7,432
<RECOVER-REINSURE>                         35,624
<DEFERRED-ACQUISITION>                    133,950
<TOTAL-ASSETS>                          1,516,296
<POLICY-LOSSES>                            79,501
<UNEARNED-PREMIUMS>                       496,061
<POLICY-OTHER>                                  0
<POLICY-HOLDER-FUNDS>                           0
<NOTES-PAYABLE>                            30,000
<PREFERRED-MANDATORY>                           0
<PREFERRED>                                   700
<COMMON>                                  695,475
<OTHER-SE>                                 63,825
<TOTAL-LIABILITY-AND-EQUITY>            1,516,296
<PREMIUMS>                                 42,484
<INVESTMENT-INCOME>                        31,668
<INVESTMENT-GAINS>                          1,512
<OTHER-INCOME>                                105
<BENEFITS>                                  3,155
<UNDERWRITING-AMORTIZATION>                12,620
<UNDERWRITING-OTHER>                        8,549
<INCOME-PRETAX>                            51,455
<INCOME-TAX>                               13,153
<INCOME-CONTINUING>                        38,292
<DISCONTINUED>                                  0
<EXTRAORDINARY>                                 0
<CHANGES>                                       0
<NET-INCOME>                               38,292
<EPS-PRIMARY>                                1.23
<EPS-DILUTED>                                1.22
<RESERVE-OPEN>                            111,759
<PROVISION-CURRENT>                         4,286
<PROVISION-PRIOR>                               0
<PAYMENTS-CURRENT>                              0
<PAYMENTS-PRIOR>                           36,544
<RESERVE-CLOSE>                            79,501
<CUMULATIVE-DEFICIENCY>                         0