WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 7
<LEGEND>
                                                                    
EXHIBIT 27.3
THIS FINANCIAL SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ORION CAPITAL CORPORATION'S 1997
QUARTERLY FINANCIAL STATEMENTS, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 
THE SCHEDULE HAS BEEN RESTATED FOR FAS NO. 128 AND THE COMPANY'S 2-FOR-1 STOCK SPLIT OF ITS COMMON STOCK ISSUED
ON JULY 7, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<RESTATED>
                
<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-1-1997    JAN-1-1997     JAN-1-1997   
<PERIOD-END>                 MAR-31-1997   JUN-30-1997    SEP-30-1997  
<DEBT-HELD-FOR-SALE>           1,361,948     1,342,885      1,424,615      
<DEBT-CARRYING-VALUE>            328,279       324,640        318,614      
<DEBT-MARKET-VALUE>              331,541       331,164        327,661      
<EQUITIES>                       363,986       382,264        432,765      
<MORTGAGE>                         1,307         1,280          2,000        
<REAL-ESTATE>                          0             0              0            
<TOTAL-INVEST>                 2,450,764     2,511,966      2,617,531                                        
<CASH>                             5,606        13,598          2,529                                        
<RECOVER-REINSURE>               414,233       420,615        441,898                   
<DEFERRED-ACQUISITION>           139,478       141,732        145,377                                        
<TOTAL-ASSETS>                 3,608,456     3,677,293      3,761,172                 
<POLICY-LOSSES>                1,794,801     1,793,358      1,805,057                
<UNEARNED-PREMIUMS>              497,114       502,800        508,910                                        
<POLICY-OTHER>                         0             0              0                         
<POLICY-HOLDER-FUNDS>             20,780        21,465         21,286                                   
<NOTES-PAYABLE>                  310,734       310,565        310,395                                        
<COMMON>                         173,930       173,531        174,342                                       
<PREFERRED-MANDATORY>                  0             0             0                            
<PREFERRED>                            0             0              0                            
<OTHER-SE>                       403,499       457,287        510,362                            
<TOTAL-LIABILITY-AND-EQUITY>   3,608,456     3,677,293      3,761,172                            
<PREMIUMS>                       323,963       659,189      1,006,639                                        
<INVESTMENT-INCOME>               40,221        81,537        122,291                                        
<INVESTMENT-GAINS>                15,789        24,147         29,299                                        
<OTHER-INCOME>                     4,939        10,119         15,133                      
<BENEFITS>                       219,002       444,696        673,781                                        
<UNDERWRITING-AMORTIZATION>       94,798       188,075        287,565                    
<UNDERWRITING-OTHER>              11,183        26,487         43,928                                        
<INCOME-PRETAX>                   43,364        82,679        120,752                    
<INCOME-TAX>                       9,921        20,791         30,519                                        
<INCOME-CONTINUING>               29,478        54,859         79,385                    
<DISCONTINUED>                         0             0              0                                        
<EXTRAORDINARY>                        0             0              0            
<CHANGES>                              0             0              0                            
<NET-INCOME>                      29,478        54,859         79,385       
<EPS-BASIC>                         1.08          2.01           2.91        
<EPS-DILUTED>                       1.06          1.97           2.85                            
<RESERVE-OPEN>                 1,368,420     1,368,420      1,368,420         
<PROVISION-CURRENT>              217,460       441,001        667,098                            
<PROVISION-PRIOR>                  1,542         3,695          6,683     
<PAYMENTS-CURRENT>                81,395       163,377        277,151                            
<PAYMENTS-PRIOR>                 125,299       266,521        381,249      
<RESERVE-CLOSE>                1,380,728     1,383,218      1,383,801                            
<CUMULATIVE-DEFICIENCY>            1,542         3,695          6,683       
           
      

</TABLE>