<TABLE> <S> <C>

<ARTICLE> 7
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   12-MOS                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1995
<PERIOD-END>                               DEC-31-1996             DEC-31-1995
<DEBT-HELD-FOR-SALE>                         1,961,166               3,226,175
<DEBT-CARRYING-VALUE>                      179,535,861             190,558,351
<DEBT-MARKET-VALUE>                        181,815,225             197,006,257
<EQUITIES>                                   1,794,405               1,946,481
<MORTGAGE>                                  11,022,792              13,891,762
<REAL-ESTATE>                               10,268,490              11,683,575
<TOTAL-INVEST>                             223,267,780             244,005,116
<CASH>                                      16,801,288              11,979,637
<RECOVER-REINSURE>                          42,601,217              14,401,852
<DEFERRED-ACQUISITION>                      18,162,356              19,041,728
<TOTAL-ASSETS>                             336,639,124             334,057,785
<POLICY-LOSSES>                                      0                       0
<UNEARNED-PREMIUMS>                                  0                       0
<POLICY-OTHER>                             252,718,388             242,763,581
<POLICY-HOLDER-FUNDS>                       19,626,449              18,488,738
<NOTES-PAYABLE>                             18,999,853              20,623,328
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                    23,967,749              23,967,749
<OTHER-SE>                                  11,510,902              14,717,051
<TOTAL-LIABILITY-AND-EQUITY>               336,639,124             334,057,785
<PREMIUMS>                                  27,618,892              29,998,125
<INVESTMENT-INCOME>                         15,909,226              15,499,751
<INVESTMENT-GAINS>                           (411,053)               (348,582)
<OTHER-INCOME>                               3,420,966               3,215,880
<BENEFITS>                                  34,443,600              31,224,015
<UNDERWRITING-AMORTIZATION>                  4,992,885               5,440,653
<UNDERWRITING-OTHER>                        15,036,062              14,535,154
<INCOME-PRETAX>                            (7,934,516)             (2,834,648)
<INCOME-TAX>                               (4,961,506)             (1,435,824)
<INCOME-CONTINUING>                        (3,031,649)             (1,451,638)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                               (3,031,649)             (1,451,638)
<EPS-PRIMARY>                                    (.13)                   (.06)
<EPS-DILUTED>                                    (.13)                   (.06)
<RESERVE-OPEN>                                       0                       0
<PROVISION-CURRENT>                                  0                       0
<PROVISION-PRIOR>                                    0                       0
<PAYMENTS-CURRENT>                                   0                       0
<PAYMENTS-PRIOR>                                     0                       0
<RESERVE-CLOSE>                                      0                       0
<CUMULATIVE-DEFICIENCY>                              0                       0
        

</TABLE>