<TABLE> <S> <C>

<PAGE>
<ARTICLE> 7
<LEGEND>
This schedule contains summary financial information extracted from
Transatlantic Holdings, Inc.'s Form 10-Q for the periods ended
March 31, 1997, June 30, 1997 and September 30, 1997, and is qualified
in its entirety by reference to such financial statements, as restated
pursuant to SFAS No. 128, "Earnings Per Share."
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000

<S>                             <C>                     <C>                     <C>
<PERIOD-TYPE>                   3-MOS                   6-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997             DEC-31-1997
<PERIOD-START>                             JAN-01-1997             JAN-01-1997             JAN-01-1997
<PERIOD-END>                               MAR-31-1997             JUN-30-1997             SEP-30-1997
<DEBT-HELD-FOR-SALE>                         1,896,956               2,019,629               2,092,549
<DEBT-CARRYING-VALUE>                        1,273,006               1,277,378               1,253,929
<DEBT-MARKET-VALUE>                          1,313,471               1,336,225               1,327,532
<EQUITIES>                                     390,983                 452,293                 492,895
<MORTGAGE>                                           0                       0                       0
<REAL-ESTATE>                                        0                       0                       0
<TOTAL-INVEST>                               3,583,730               3,776,887               3,856,072
<CASH>                                         134,086                  95,193                  72,640
<RECOVER-REINSURE>                             384,470                 407,653                 422,872
<DEFERRED-ACQUISITION>                          62,619                  63,069                  66,489
<TOTAL-ASSETS>                               4,549,792               4,719,897               4,790,795
<POLICY-LOSSES>                              2,750,666               2,827,676               2,849,381
<UNEARNED-PREMIUMS>                            361,459                 365,724                 380,267
<POLICY-OTHER>                                       0                       0                       0
<POLICY-HOLDER-FUNDS>                                0                       0                       0
<NOTES-PAYABLE>                                      0                       0                       0
<PREFERRED-MANDATORY>                                0                       0                       0
<PREFERRED>                                          0                       0                       0
<COMMON>                                        23,833                  35,349                  35,356
<OTHER-SE>                                   1,123,872               1,206,385               1,272,132
<TOTAL-LIABILITY-AND-EQUITY>                 4,549,792               4,719,897               4,790,795
<PREMIUMS>                                     284,181                 590,211                 923,390
<INVESTMENT-INCOME>                             50,020                 101,035                 154,060
<INVESTMENT-GAINS>                               4,179                   8,377                  17,560
<OTHER-INCOME>                                    (445)                   (959)                 (1,289)
<BENEFITS>                                     211,928                 435,587                 684,705
<UNDERWRITING-AMORTIZATION>                     (3,919)                 (4,368)                 (7,759)
<UNDERWRITING-OTHER>                            77,458                 159,954                 248,579
<INCOME-PRETAX>                                 52,468                 107,491                 168,196
<INCOME-TAX>                                    10,847                  22,726                  35,475
<INCOME-CONTINUING>                             41,621                  84,765                 132,721
<DISCONTINUED>                                       0                       0                       0
<EXTRAORDINARY>                                      0                       0                       0
<CHANGES>                                            0                       0                       0
<NET-INCOME>                                    41,621                  84,765                 132,721
<EPS-PRIMARY>                                     1.20                    2.45                    3.84
<EPS-DILUTED>                                     1.20                    2.44                    3.82
<RESERVE-OPEN>                                       0                       0                       0
<PROVISION-CURRENT>                                  0                       0                       0
<PROVISION-PRIOR>                                    0                       0                       0
<PAYMENTS-CURRENT>                                   0                       0                       0
<PAYMENTS-PRIOR>                                     0                       0                       0
<RESERVE-CLOSE>                                      0                       0                       0
<CUMULATIVE-DEFICIENCY>                              0                       0                       0


</TABLE>