<PAGE>   1

                        POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned, being a
director and/or officer of Delphi Financial Group, Inc., a Delaware
corporation (the "Company"), hereby constitutes and appoints Robert
Rosenkranz and Robert M. Smith, Jr. or either of them his or her
true and lawful attorney(s)-in-fact and agent(s), with full power
of substitution and resubstitution, for him or her and in his or
her place and stead in any and all capacities, to execute one or
more Annual Reports for the Company's fiscal year ended December
31, 1996, on Form 10-K pursuant to the Securities Exchange Act of
1934, as amended, or such other form as such attorney(s)-in-fact
may deem necessary or desirable, any amendments thereto, and all
additional amendments thereto in such form as either of them may
approve, and to file the same with all exhibits thereto and other
documents in connection therewith with the Securities and Exchange
Commission, granting unto said attorney(s)-in-fact and agent(s)
full power and authority to do and perform each and every act and
thing requisite and necessary to be done to the end that such
Annual Report or Annual Reports shall comply with the Securities
Exchange Act of 1934, as amended, and the applicable rules and
regulations of the Securities and Exchange Commission adopted or
issued pursuant thereto, as fully and to all intents and purposes
as he or she might or could do in person, hereby ratifying and
confirming all that said attorney(s)-in-fact and agent(s) or his
substitute or resubstitute, may lawfully do or cause to be done by
virtue hereof.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or
her hand this 27th day of January, 1997.


                                         /s/ EDWARD A. FOX 
                                        ---------------------    
                                        Edward A. Fox
                                        Director

<PAGE>   2

                        POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned, being a
director and/or officer of Delphi Financial Group, Inc., a Delaware
corporation (the "Company"), hereby constitutes and appoints Robert
Rosenkranz and Robert M. Smith, Jr. or either of them his or her
true and lawful attorney(s)-in-fact and agent(s), with full power
of substitution and resubstitution, for him or her and in his or
her place and stead in any and all capacities, to execute one or
more Annual Reports for the Company's fiscal year ended December
31, 1996, on Form 10-K pursuant to the Securities Exchange Act of
1934, as amended, or such other form as such attorney(s)-in-fact
may deem necessary or desirable, any amendments thereto, and all
additional amendments thereto in such form as either of them may
approve, and to file the same with all exhibits thereto and other
documents in connection therewith with the Securities and Exchange
Commission, granting unto said attorney(s)-in-fact and agent(s)
full power and authority to do and perform each and every act and
thing requisite and necessary to be done to the end that such
Annual Report or Annual Reports shall comply with the Securities
Exchange Act of 1934, as amended, and the applicable rules and
regulations of the Securities and Exchange Commission adopted or
issued pursuant thereto, as fully and to all intents and purposes
as he or she might or could do in person, hereby ratifying and
confirming all that said attorney(s)-in-fact and agent(s) or his
substitute or resubstitute, may lawfully do or cause to be done by
virtue hereof.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or
her hand this 27th day of January, 1997.


                                         /s/ CHARLES P. O'BRIEN 
                                        -------------------------
                                        Charles P. O'Brien
                                        Director

<PAGE>   3

                        POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned, being a
director and/or officer of Delphi Financial Group, Inc., a Delaware
corporation (the "Company"), hereby constitutes and appoints Robert
Rosenkranz and Robert M. Smith, Jr. or either of them his or her
true and lawful attorney(s)-in-fact and agent(s), with full power
of substitution and resubstitution, for him or her and in his or
her place and stead in any and all capacities, to execute one or
more Annual Reports for the Company's fiscal year ended December
31, 1996, on Form 10-K pursuant to the Securities Exchange Act of
1934, as amended, or such other form as such attorney(s)-in-fact
may deem necessary or desirable, any amendments thereto, and all
additional amendments thereto in such form as either of them may
approve, and to file the same with all exhibits thereto and other
documents in connection therewith with the Securities and Exchange
Commission, granting unto said attorney(s)-in-fact and agent(s)
full power and authority to do and perform each and every act and
thing requisite and necessary to be done to the end that such
Annual Report or Annual Reports shall comply with the Securities
Exchange Act of 1934, as amended, and the applicable rules and
regulations of the Securities and Exchange Commission adopted or
issued pursuant thereto, as fully and to all intents and purposes
as he or she might or could do in person, hereby ratifying and
confirming all that said attorney(s)-in-fact and agent(s) or his
substitute or resubstitute, may lawfully do or cause to be done by
virtue hereof.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or
her hand this 27th day of January, 1997.


                                         /s/ Lewis S. Ranieri 
                                        ------------------------
                                        Lewis S. Ranieri
                                        Director

<PAGE>   4

                        POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned, being a
director and/or officer of Delphi Financial Group, Inc., a Delaware
corporation (the "Company"), hereby constitutes and appoints Robert
Rosenkranz and Robert M. Smith, Jr. or either of them his or her
true and lawful attorney(s)-in-fact and agent(s), with full power
of substitution and resubstitution, for him or her and in his or
her place and stead in any and all capacities, to execute one or
more Annual Reports for the Company's fiscal year ended December
31, 1996, on Form 10-K pursuant to the Securities Exchange Act of
1934, as amended, or such other form as such attorney(s)-in-fact
may deem necessary or desirable, any amendments thereto, and all
additional amendments thereto in such form as either of them may
approve, and to file the same with all exhibits thereto and other
documents in connection therewith with the Securities and Exchange
Commission, granting unto said attorney(s)-in-fact and agent(s)
full power and authority to do and perform each and every act and
thing requisite and necessary to be done to the end that such
Annual Report or Annual Reports shall comply with the Securities
Exchange Act of 1934, as amended, and the applicable rules and
regulations of the Securities and Exchange Commission adopted or
issued pursuant thereto, as fully and to all intents and purposes
as he or she might or could do in person, hereby ratifying and
confirming all that said attorney(s)-in-fact and agent(s) or his
substitute or resubstitute, may lawfully do or cause to be done by
virtue hereof.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or
her hand this 27th day of January, 1997.


                                         /s/ Thomas L. Rhodes 
                                        -----------------------
                                        Thomas L. Rhodes
                                        Director

<PAGE>   5

                        POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned, being a
director and/or officer of Delphi Financial Group, Inc., a Delaware
corporation (the "Company"), hereby constitutes and appoints Robert
Rosenkranz and Robert M. Smith, Jr. or either of them his or her
true and lawful attorney(s)-in-fact and agent(s), with full power
of substitution and resubstitution, for him or her and in his or
her place and stead in any and all capacities, to execute one or
more Annual Reports for the Company's fiscal year ended December
31, 1996, on Form 10-K pursuant to the Securities Exchange Act of
1934, as amended, or such other form as such attorney(s)-in-fact
may deem necessary or desirable, any amendments thereto, and all
additional amendments thereto in such form as either of them may
approve, and to file the same with all exhibits thereto and other
documents in connection therewith with the Securities and Exchange
Commission, granting unto said attorney(s)-in-fact and agent(s)
full power and authority to do and perform each and every act and
thing requisite and necessary to be done to the end that such
Annual Report or Annual Reports shall comply with the Securities
Exchange Act of 1934, as amended, and the applicable rules and
regulations of the Securities and Exchange Commission adopted or
issued pursuant thereto, as fully and to all intents and purposes
as he or she might or could do in person, hereby ratifying and
confirming all that said attorney(s)-in-fact and agent(s) or his
substitute or resubstitute, may lawfully do or cause to be done by
virtue hereof.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or
her hand this 27th day of January, 1997.


                                         /s/ THOMAS A. SULLIVAN 
                                        -------------------------
                                        Thomas A. Sullivan
                                        Director

<PAGE>   6

                        POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned, being a
director and/or officer of Delphi Financial Group, Inc., a Delaware
corporation (the "Company"), hereby constitutes and appoints Robert
Rosenkranz and Robert M. Smith, Jr. or either of them his or her
true and lawful attorney(s)-in-fact and agent(s), with full power
of substitution and resubstitution, for him or her and in his or
her place and stead in any and all capacities, to execute one or
more Annual Reports for the Company's fiscal year ended December
31, 1996, on Form 10-K pursuant to the Securities Exchange Act of
1934, as amended, or such other form as such attorney(s)-in-fact
may deem necessary or desirable, any amendments thereto, and all
additional amendments thereto in such form as either of them may
approve, and to file the same with all exhibits thereto and other
documents in connection therewith with the Securities and Exchange
Commission, granting unto said attorney(s)-in-fact and agent(s)
full power and authority to do and perform each and every act and
thing requisite and necessary to be done to the end that such
Annual Report or Annual Reports shall comply with the Securities
Exchange Act of 1934, as amended, and the applicable rules and
regulations of the Securities and Exchange Commission adopted or
issued pursuant thereto, as fully and to all intents and purposes
as he or she might or could do in person, hereby ratifying and
confirming all that said attorney(s)-in-fact and agent(s) or his
substitute or resubstitute, may lawfully do or cause to be done by
virtue hereof.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or
her hand this 7th day of February, 1997.


                                         /s/ B.K. WERNER  
                                        --------------------
                                        B.K. Werner
                                        Director

<PAGE>   7

                        POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that the undersigned, being a
director and/or officer of Delphi Financial Group, Inc., a Delaware
corporation (the "Company"), hereby constitutes and appoints Robert
Rosenkranz and Robert M. Smith, Jr. or either of them his or her
true and lawful attorney(s)-in-fact and agent(s), with full power
of substitution and resubstitution, for him or her and in his or
her place and stead in any and all capacities, to execute one or
more Annual Reports for the Company's fiscal year ended December
31, 1996, on Form 10-K pursuant to the Securities Exchange Act of
1934, as amended, or such other form as such attorney(s)-in-fact
may deem necessary or desirable, any amendments thereto, and all
additional amendments thereto in such form as either of them may
approve, and to file the same with all exhibits thereto and other
documents in connection therewith with the Securities and Exchange
Commission, granting unto said attorney(s)-in-fact and agent(s)
full power and authority to do and perform each and every act and
thing requisite and necessary to be done to the end that such
Annual Report or Annual Reports shall comply with the Securities
Exchange Act of 1934, as amended, and the applicable rules and
regulations of the Securities and Exchange Commission adopted or
issued pursuant thereto, as fully and to all intents and purposes
as he or she might or could do in person, hereby ratifying and
confirming all that said attorney(s)-in-fact and agent(s) or his
substitute or resubstitute, may lawfully do or cause to be done by
virtue hereof.

     IN WITNESS WHEREOF, the undersigned has hereunto set his or
her hand this 24th day of January, 1997.


                                        /s/ JANE R. DUNLAP  
                                        ---------------------
                                        Jane R. Dunlap
                                        Vice President & Treasurer