<TABLE> <S> <C>

<PAGE>

<ARTICLE> 7
<MULTIPLIER> 1,000

<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          SEP-30-2000
<PERIOD-START>                             OCT-01-1999
<PERIOD-END>                               DEC-31-1999
<DEBT-HELD-FOR-SALE>                           411,706
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                           0
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 411,706
<CASH>                                         147,885
<RECOVER-REINSURE>                              17,776
<DEFERRED-ACQUISITION>                           8,470
<TOTAL-ASSETS>                                 726,168
<POLICY-LOSSES>                                190,352
<UNEARNED-PREMIUMS>                             49,895
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
                                0
                                      3,000
<COMMON>                                        15,604
<OTHER-SE>                                     343,356
<TOTAL-LIABILITY-AND-EQUITY>                   726,168
                                      30,391
<INVESTMENT-INCOME>                              8,588
<INVESTMENT-GAINS>                                   0
<OTHER-INCOME>                                       0
<BENEFITS>                                      46,642
<UNDERWRITING-AMORTIZATION>                      6,812
<UNDERWRITING-OTHER>                             5,356
<INCOME-PRETAX>                               (19,831)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (19,831)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (19,831)
<EPS-BASIC>                                     (1.06)
<EPS-DILUTED>                                   (1.06)
<RESERVE-OPEN>                                       0<F1>
<PROVISION-CURRENT>                                  0<F1>
<PROVISION-PRIOR>                                    0<F1>
<PAYMENTS-CURRENT>                                   0<F1>
<PAYMENTS-PRIOR>                                     0<F1>
<RESERVE-CLOSE>                                      0<F1>
<CUMULATIVE-DEFICIENCY>                              0<F1>
<FN>
<F1> Amounts for Securities Act Industry Guide 6 and Exchange Act Industry
     Guide 4 disclosures are not provided because the Company's loss reserves
     do not exceed one half of the consolidated common shareholders equity.
</FN>


</TABLE>



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