<ARTICLE> 7 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <DEBT-HELD-FOR-SALE> 122,928,000 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 8,889,000 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 183,434,000 <CASH> 140,139,000 <RECOVER-REINSURE> 0 <DEFERRED-ACQUISITION> 24,569,000 <TOTAL-ASSETS> 956,469,000 <POLICY-LOSSES> 244,578,000 <UNEARNED-PREMIUMS> 0 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 67,526,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 11,602,000 <OTHER-SE> 342,713,000 <TOTAL-LIABILITY-AND-EQUITY> 956,469,000 <PREMIUMS> 376,425,000 <INVESTMENT-INCOME> 4,835,000 <INVESTMENT-GAINS> 1,617,000 <OTHER-INCOME> 0 <BENEFITS> 18,592,000 <UNDERWRITING-AMORTIZATION> 0 <UNDERWRITING-OTHER> 0 <INCOME-PRETAX> 4,766,000 <INCOME-TAX> 1,900,000 <INCOME-CONTINUING> 2,866,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,866,000 <EPS-PRIMARY> .25 <EPS-DILUTED> 0 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0