<TABLE> <S> <C>


<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE REPORT ON FORM 10-Q OF IPC HOLDINGS, LTD. FOR THE THREE MONTHS ENDED
MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
THE FINANCIAL STATEMENTS (AND THE NOTES THERETO) CONTAINED IN SUCH REPORT.

</LEGEND>
<MULTIPLIER>                                                   1000

       
<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>                                        263,836
<DEBT-CARRYING-VALUE>                                       226,622
<DEBT-MARKET-VALUE>                                         222,729
<EQUITIES>                                                        0
<MORTGAGE>                                                        0
<REAL-ESTATE>                                                     0
<TOTAL-INVEST>                                              486,565
<CASH>                                                       33,530
<RECOVER-REINSURE>                                                0
<DEFERRED-ACQUISITION>                                        6,371
<TOTAL-ASSETS>                                              605,266
<POLICY-LOSSES>                                              27,482
<UNEARNED-PREMIUMS>                                          64,906
<POLICY-OTHER>                                                    0
<POLICY-HOLDER-FUNDS>                                             0
<NOTES-PAYABLE>                                                   0
<PREFERRED-MANDATORY>                                             0
<PREFERRED>                                                       0
<COMMON>                                                        250
<OTHER-SE>                                                  510,282
<TOTAL-LIABILITY-AND-EQUITY>                                605,266
<PREMIUMS>                                                   28,407
<INVESTMENT-INCOME>                                           7,602
<INVESTMENT-GAINS>                                            (322)
<OTHER-INCOME>                                                    0
<BENEFITS>                                                    2,464
<UNDERWRITING-AMORTIZATION>                                   2,879
<UNDERWRITING-OTHER>                                          2,056
<INCOME-PRETAX>                                              27,512
<INCOME-TAX>                                                      0
<INCOME-CONTINUING>                                          27,512
<DISCONTINUED>                                                    0
<EXTRAORDINARY>                                                   0
<CHANGES>                                                         0
<NET-INCOME>                                                 27,512
<EPS-PRIMARY>                                                  1.05
<EPS-DILUTED>                                                  1.04
<RESERVE-OPEN>                                                    0
<PROVISION-CURRENT>                                               0
<PROVISION-PRIOR>                                                 0
<PAYMENTS-CURRENT>                                                0
<PAYMENTS-PRIOR>                                                  0
<RESERVE-CLOSE>                                                   0
<CUMULATIVE-DEFICIENCY>                                           0

        


</TABLE>