<TABLE> <S> <C>

<ARTICLE> 7
<RESTATED> 
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   3-MOS                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1996
<PERIOD-END>                               MAR-31-1996             JUN-30-1996
<DEBT-HELD-FOR-SALE>                           800,404                 828,699
<DEBT-CARRYING-VALUE>                                0                       0
<DEBT-MARKET-VALUE>                                  0                       0
<EQUITIES>                                           0                       0
<MORTGAGE>                                           0                       0
<REAL-ESTATE>                                        0                       0
<TOTAL-INVEST>                                 800,404                 828,699
<CASH>                                           5,016                   3,717
<RECOVER-REINSURE>                                 753                     753
<DEFERRED-ACQUISITION>                           9,184                  10,856
<TOTAL-ASSETS>                               1,033,739               1,059,019
<POLICY-LOSSES>                                 14,781                  18,538
<UNEARNED-PREMIUMS>                            325,619                 330,381
<POLICY-OTHER>                                       0                       0
<POLICY-HOLDER-FUNDS>                                0                       0
<NOTES-PAYABLE>                                 90,753                  90,762
<PREFERRED-MANDATORY>                           75,000                  75,000
<PREFERRED>                                          0                       0
<COMMON>                                           158                     159
<OTHER-SE>                                     436,335                 448,428
<TOTAL-LIABILITY-AND-EQUITY>                 1,033,739               1,059,019
<PREMIUMS>                                      20,104                  42,426
<INVESTMENT-INCOME>                             12,286                  24,782
<INVESTMENT-GAINS>                                (95)                   (811)
<OTHER-INCOME>                                     244                     763
<BENEFITS>                                       1,409                   3,766
<UNDERWRITING-AMORTIZATION>                      6,636                  13,786
<UNDERWRITING-OTHER>                             3,147                   5,504
<INCOME-PRETAX>                                 17,193                  35,400
<INCOME-TAX>                                     4,426                   9,348
<INCOME-CONTINUING>                             12,767                  26,052
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                    12,767                  26,052
<EPS-PRIMARY>                                     0.84                    1.68
<EPS-DILUTED>                                     0.83                    1.65
<RESERVE-OPEN>                                  10,245                  10,245
<PROVISION-CURRENT>                                 10                     167
<PROVISION-PRIOR>                                1,398                   3,598
<PAYMENTS-CURRENT>                                   0                       0
<PAYMENTS-PRIOR>                                 (454)                     244
<RESERVE-CLOSE>                                 12,108                  13,767
<CUMULATIVE-DEFICIENCY>                              0<F1>                       0<F1>
<FN>
<F1>Not Applicable for mortgage guaranty and specialty reinsurer
</FN>
        

</TABLE>