<TABLE> <S> <C>

<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 1997 (UNAUDITED) AND THE CONSOLIDATED
STATEMENT OF INCOME FOR THE THREE MONTHS ENDED MARCH 31, 1997 (UNAUDITED) AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
<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>                         1,842,915
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                           0
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                               2,192,954
<CASH>                                          88,681
<RECOVER-REINSURE>                             221,461
<DEFERRED-ACQUISITION>                          95,218
<TOTAL-ASSETS>                               2,877,882
<POLICY-LOSSES>                                940,767
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                          726,227
<NOTES-PAYABLE>                                178,947
<PREFERRED-MANDATORY>                          100,000<F1>
<PREFERRED>                                          0
<COMMON>                                           182
<OTHER-SE>                                     357,359
<TOTAL-LIABILITY-AND-EQUITY>                 2,877,882
<PREMIUMS>                                      87,937
<INVESTMENT-INCOME>                             46,898
<INVESTMENT-GAINS>                               4,236
<OTHER-INCOME>                                       0
<BENEFITS>                                      74,382
<UNDERWRITING-AMORTIZATION>                      7,797
<UNDERWRITING-OTHER>                            21,847
<INCOME-PRETAX>                                 30,747
<INCOME-TAX>                                    10,331
<INCOME-CONTINUING>                             20,298
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    20,298
<EPS-PRIMARY>                                     1.03
<EPS-DILUTED>                                     1.03
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0
<FN>
<F1>Represents Company-obligated mandatorily redeemable Capital Securities of
Delphi Funding L.L.C. holding solely junior subordinated deferrable interest
debentures of the Company.
</FN>
        

</TABLE>