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                                                                  EXHIBIT 10.113

                   AMENDMENT NO. 1 TO SETTLEMENT AGREEMENT


     This Amendment No. 1 to Settlement Agreement ("Amendment") is entered into
this 2nd day of June 1997, by and between The Central National Insurance
Company Of Omaha, a Nebraska insurance corporation in rehabilitation
("Central"), Transre Insurance Services, a California corporation ("Transre")
and TCO Holdings, Inc., a California corporation ("Holdings").

     WHEREAS, on November 9, 1995, the parties entered into a Settlement
Agreement ("Settlement Agreement") pursuant to which they sought to settle
certain matters;

     WHEREAS, on November 11, 1996, as a consequence of Transre's apparent
inability to meet its November 15, 1996, payment obligation, the parties
modified the Settlement Agreement ("11/12/96 Modification") to provide for
installment payments of the $366,666 due on or before November 15, 1996;

     WHEREAS, Transre now has informed Central that Transre is incapable of
meeting its remaining payment obligations under the Settlement Agreement and
the 11/12/96 Modification, and has proposed an alternative to Central; and

     WHEREAS, the parties now wish to amend the Settlement Agreement and
the 11/12/96 Modification as set forth in this Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants and conditions
hereinafter set forth, and other consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows:

     1.      PAYMENTS.

             In lieu of the remaining payments due pursuant to the Settlement
             Agreement and the 11/12/96 Modification, Transre and/or Holdings
             shall cause to be paid to Central the amounts set forth below:

             A.   $100,000 in cash to be paid to Central within five business 
                  days following the execution of this Amendment; and

             B.   Subject to final approval by the Illinois Department of 
                  Insurance, and additionally subject to execution of various   
                  settlement and related agreements with other parties not
                  directly related to this Amendment, $1,550,000 payable from
                  26.67% of the 3.75% override commission ("Override
                  Commission") to be paid by Alpine Insurance Company
                  ("Alpine") to Holdings with respect to the quota share
                  reinsurance between United Capitol Insurance Company and its
                  affiliates and Alpine, as evidenced by the Casualty Quota
                  Share Slip attached as Exhibit I hereto (the "Reinsurance
                  Agreement").

                  1)    Such amounts shall be paid to Central quarterly by the 
                        end of the month following the end of each such quarter.



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                   2)   In the event the experience under the Reinsurance 
                        Agreement in any quarter is such that the maximum       
                        Override Commission is not generated, Central shall be
                        entitled to receive amounts equal to 26.67% of the
                        Override Commission which is generated. Except as set
                        forth in Subsection 1.B.3, such amounts shall be
                        limited to 26.67% of the premiums actually received by
                        Alpine by the end of the quarters with respect to which
                        the payments are payable.  If, in any one quarter, the
                        amount paid to Central is limited, by reason of this
                        Subsection 1/B.2, to less than 26.67% of 3.75% of the
                        gross premiums assumed by Alpine in the quarter, the
                        balance owing to Central shall be carried forward to
                        successive quarters in which the amounts of premiums
                        actually received by Alpine under the Reinsurance
                        Agreement exceed 3.75% of the gross premiums assumed by
                        Alpine, until the full amount owing has been paid.

                   3)   At such time, if ever, as Holdings shall have met its 
                        obligations to use 73.33% of the 3.75% Override 
                        Commission to satisfy certain of Holdings' obligations
                        to Geneva Syndicate, Inc., Transre shall cause to be
                        paid to Central 100% of the 3.75% Override Commission
                        until Central shall have received a total of $1,550,000
                        pursuant to this Subsection 1.B.

             2.  REPORTING

                 Transre shall prepare for Central a quarterly report on the    
                 business produced under the Reinsurance Agreement, summarizing
                 premiums assumed by Alpine, Alpine's unearned premiums,
                 Alpine's return premiums, Alpine's ceding commissions,
                 Alpine's losses and loss adjustment expenses paid, Alpine's
                 loss reserves, Alpine's salvage recoveries, and Alpine's
                 amounts of Override Commissions.  This report shall be
                 delivered to Central by the end of the month following the end
                 of each quarter.  Transre shall honor any reasonable request
                 by Central to audit, at Central's expense, the books and
                 records of Transre, Holdings, or Alpine relative to the
                 Reinsurance Agreement.  Transre shall immediately notify
                 Central should the Reinsurance Agreement be terminated.

             3.  CONSIDERATION.

                 Central acknowledges that it believes it likely would not      
                 receive the remaining payments due from Transre in accordance
                 with the Settlement Agreement and the 11/12/96 Modification,
                 and that, among other things, Central is entering into this
                 Amendment in consideration of Transre's agreement to cause its
                 affiliates to pay to Central the amounts set forth in Section
                 1 of this Agreement.

             4.  EFFECT.

                 This Amendment shall supersede the Settlement Agreement and    
                 the 11/12/96 Modification only as expressly set forth herein,
                 and only for so long as Central receives an annual average
                 amount of at least $50,000 (beginning with calendar year 1997)
                 pursuant to Subsection 1.B of this Agreement. If at the end of
                 any year (beginning with calendar year 1997) Central has not
                 received an average annual 


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                 amount of at least $50,000 pursuant to Subsection 1.B of this  
                 Agreement, or in the event that the Reinsurance Agreement is
                 terminated, this Amendment automatically shall terminate and
                 all of the terms and conditions of the Settlement Agreement
                 and the 11/12/96 Modification immediately shall be reinstated
                 as if this Amendment had never been executed; provided,
                 however that (i) the total amount due Central pursuant to the
                 Settlement Agreement and the 11/12/96 Modification shall be
                 reduced by amounts paid pursuant to this Amendment, with the
                 payments paid pursuant to this Amendment being applied first
                 to reduce amounts due to Central pursuant to the 11/12/96
                 Modification, and then successively to reduce amounts due
                 pursuant to the Settlement Agreement from the earliest amount
                 due to the latest amount due; and (ii) the periods of any
                 statutes of limitations applicable to the Settlement Agreement
                 and the 11/12/96 Modification shall have been tolled while
                 this Amendment was effective.  All other terms and conditions
                 of the Agreement among the parties, as evidenced by the
                 Settlement Agreement and the 11/12/96 Modification, shall
                 remain in full force and effect.

         IN WITNESS WHEREOF, the undersigned agree to this Amendment and signify
their acceptances and approvals by signing below this 2nd day of June 1997.



THE CENTRAL NATIONAL INSURANCE
COMPANY OF OMAHA (In Rehabilitation)          TRANSRE INSURANCE SERVICES

By: /s/ Houghton Furr,Jr.
   ---------------------------------          By: /s/  Steven C. Shinn
    Houghton Furr, Jr.                           ------------------------------
    Deputy Rehabilitator                          Steven C. Shinn


                                                                      
                                              TCO HOLDINGS, INC.        
                                                                            
                                              BY: /s/ Steven C. Shinn       
                                                 ------------------------------
                                                  Steven C. Shinn            
                                                                             
                                                                             
                                              Acknowledged:                  
                                                                             
                                              PETER J. O'SHAUGHNESSY         
                                                                             
                                                                             
                                              By: /s/ Peter J. O'Shaughnessy 
                                                 ------------------------------
                                                                             
                                              Date:  2/6/97                  
                                                 ------------------------------

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