<ARTICLE>                     7
<LEGEND> 
      THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
Financial Security Assurance Holdings Ltd.
</LEGEND>
<MULTIPLIER>                  1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 JAN-01-1998
<PERIOD-END>                                   JUN-30-1998
<DEBT-HELD-FOR-SALE>                             1,487,408
<DEBT-CARRYING-VALUE>                                    0
<DEBT-MARKET-VALUE>                                      0
<EQUITIES>                                          28,812
<MORTGAGE>                                               0
<REAL-ESTATE>                                            0
<TOTAL-INVEST>                                   1,516,220
<CASH>                                              16,002
<RECOVER-REINSURE>                                   3,690
<DEFERRED-ACQUISITION>                             179,437
<TOTAL-ASSETS>                                   1,991,347
<POLICY-LOSSES>                                     66,364
<UNEARNED-PREMIUMS>                                648,561
<POLICY-OTHER>                                           0
<POLICY-HOLDER-FUNDS>                                    0
<NOTES-PAYABLE>                                    130,000
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                            700
<COMMON>                                           693,708
<OTHER-SE>                                         239,994
<TOTAL-LIABILITY-AND-EQUITY>                     1,991,347
<PREMIUMS>                                          64,373
<INVESTMENT-INCOME>                                 37,938
<INVESTMENT-GAINS>                                   6,672
<OTHER-INCOME>                                         356
<BENEFITS>                                           2,094
<UNDERWRITING-AMORTIZATION>                         16,914
<UNDERWRITING-OTHER>                                16,034
<INCOME-PRETAX>                                     74,297
<INCOME-TAX>                                        19,802
<INCOME-CONTINUING>                                 54,495
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                        54,495
<EPS-PRIMARY>                                         1.88
<EPS-DILUTED>                                         1.80
<RESERVE-OPEN>                                      75,417
<PROVISION-CURRENT>                                  2,094
<PROVISION-PRIOR>                                  (11,147)
<PAYMENTS-CURRENT>                                       0
<PAYMENTS-PRIOR>                                         0
<RESERVE-CLOSE>                                     66,364
<CUMULATIVE-DEFICIENCY>                                  0