<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM CONSOLIDATED
BALANCE SHEETS AND CONSOLIDATED STATEMENT OF OPERATIONS AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   3-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1996
<PERIOD-START>                             JUL-01-1996             JAN-01-1996
<PERIOD-END>                               SEP-30-1996             SEP-30-1996
<DEBT-HELD-FOR-SALE>                                 0                 110,136
<DEBT-CARRYING-VALUE>                                0                       0
<DEBT-MARKET-VALUE>                                  0                       0
<EQUITIES>                                           0                       0
<MORTGAGE>                                           0                       0
<REAL-ESTATE>                                        0                       0
<TOTAL-INVEST>                                       0                 112,541
<CASH>                                               0                     732
<RECOVER-REINSURE>                                   0                   4,076
<DEFERRED-ACQUISITION>                               0                   1,255
<TOTAL-ASSETS>                                       0                 162,463
<POLICY-LOSSES>                                      0                  92,517
<UNEARNED-PREMIUMS>                                  0                   7,088
<POLICY-OTHER>                                       0                       0
<POLICY-HOLDER-FUNDS>                                0                     247
<NOTES-PAYABLE>                                      0                  18,854
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                             0                      95
<OTHER-SE>                                           0                  36,576
<TOTAL-LIABILITY-AND-EQUITY>                         0                 162,463
<PREMIUMS>                                      22,156                  63,415
<INVESTMENT-INCOME>                              1,745                   5,351
<INVESTMENT-GAINS>                                 153                     241
<OTHER-INCOME>                                       3                       5
<BENEFITS>                                      20,754                  51,886
<UNDERWRITING-AMORTIZATION>                      3,685                  11,146
<UNDERWRITING-OTHER>                             3,456                   9,278
<INCOME-PRETAX>                                (4,425)                 (5,050)
<INCOME-TAX>                                       791                     606
<INCOME-CONTINUING>                            (5,216)                 (5,656)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                   (5,216)                 (5,656)
<EPS-PRIMARY>                                    (.55)                   (.59)
<EPS-DILUTED>                                    (.55)                   (.59)
<RESERVE-OPEN>                                       0                  96,525
<PROVISION-CURRENT>                                  0                  46,939
<PROVISION-PRIOR>                                    0                   4,947
<PAYMENTS-CURRENT>                                   0                   9,735
<PAYMENTS-PRIOR>                                     0                  45,749
<RESERVE-CLOSE>                                      0                  92,517
<CUMULATIVE-DEFICIENCY>                              0                   4,947
        

</TABLE>