<TABLE> <S> <C>

<PAGE>
<ARTICLE> 7
       
<S>                             <C>                     
<PERIOD-TYPE>                   3-MOS                   
<FISCAL-YEAR-END>                          DEC-31-1997  
<PERIOD-START>                             JAN-01-1997  
<PERIOD-END>                               MAR-31-1997  
<DEBT-HELD-FOR-SALE>                       241,698,092  
<DEBT-CARRYING-VALUE>                                0                       
<DEBT-MARKET-VALUE>                                  0                       
<EQUITIES>                                  15,117,310               
<MORTGAGE>                                           0                       
<REAL-ESTATE>                                        0                       
<TOTAL-INVEST>                             256,896,046             
<CASH>                                      14,512,008              
<RECOVER-REINSURE>                          10,216,937                       
<DEFERRED-ACQUISITION>                      87,668,685              
<TOTAL-ASSETS>                             399,658,356             
<POLICY-LOSSES>                            119,117,683            
<UNEARNED-PREMIUMS>                             12,215                 
<POLICY-OTHER>                              58,406,726           
<POLICY-HOLDER-FUNDS>                                0                       
<NOTES-PAYABLE>                             76,925,396                       
<PREFERRED-MANDATORY>                                0                       
<PREFERRED>                                          0                       
<COMMON>                                       812,370              
<OTHER-SE>                                 118,297,609              
<TOTAL-LIABILITY-AND-EQUITY>               399,658,356            
<PREMIUMS>                                  39,709,888             
<INVESTMENT-INCOME>                          3,893,298               
<INVESTMENT-GAINS>                              49,762                  
<OTHER-INCOME>                                  78,966                 
<BENEFITS>                                  25,350,614         
<UNDERWRITING-AMORTIZATION>                (5,492,417)         
<UNDERWRITING-OTHER>                        19,077,348            
<INCOME-PRETAX>                              4,816,369             
<INCOME-TAX>                                 1,397,000          
<INCOME-CONTINUING>                          3,419,369               
<DISCONTINUED>                                       0                       
<EXTRAORDINARY>                                      0                       
<CHANGES>                                            0                       
<NET-INCOME>                                 3,419,369              
<EPS-PRIMARY>                                      .45                    
<EPS-DILUTED>                                      .42                  
<RESERVE-OPEN>                                       0                       
<PROVISION-CURRENT>                                  0                       
<PROVISION-PRIOR>                                    0                       
<PAYMENTS-CURRENT>                                   0                       
<PAYMENTS-PRIOR>                                     0                       
<RESERVE-CLOSE>                                      0                       
<CUMULATIVE-DEFICIENCY>                              0                       
        

</TABLE>