Exhibit 11

MEADOWBROOK INSURANCE GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS

|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |   |       |  
|------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------- | - | -------------------------------------- | - | ------------- |  | --------- | --------- |  |  | - | ----- | -
|                                                                                           |                                                                                        |   | Income                                 |   | Shares        |  | Per Share
|                                                                                           |                                                                                        |   | (Numerator)                            |   | (Denominator) |  | Amount   
|                                                                                           |                                                                                        |   |                                        |   |               |  |          
|                                                                                           |                                                                                        |   | For the Six Months Ended June 30, 2000
|Net income applicable to common shareholders                                               |                                                                                        | $ | 1,018,772                              |  
|                                                                                           |                                                                                        |   |                                        |  
|Basic EPS                                                                                 
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Income applicable to shareholders                                                      |   |                                        |   |               |  |           | 8,511,659 |  |  | $ | 0.12  |  
|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |   |       |  
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Effect of Dilutive Securities                                                             
|                                                                                           | Options                                                                                |   |                                        |   |               |  |          |          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Diluted EPS                                                                               
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Income applicable to shareholders                                                      |   |                                        |   |               |  |           | 8,511,659 |  |  | $ | 0.12  |  
|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |  
|                                                                                           |                                                                                        |   | For the Six Months Ended June 30, 1999
|Net income before cumulative effect of accounting
change applicable to common shareholders |                                                                                        | $ | 194,209                                |  
|                                                                                           |                                                                                        |   |                                        |  
|Basic EPS                                                                                 
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Income before cumulative effect of accounting
change applicable to common shareholders |   |                                        |   |               |  |           | 8,644,657 |  |  | $ | 0.02  |  
|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |   |      
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Effect of Dilutive
Securities                                                             
|                                                                                           | Options                                                                                |   |                                        |   |               |  | 146,088   |          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Diluted EPS                                                                               
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Income before cumulative effect of accounting
change applicable to common shareholders |   |                                        |   |               |  |           | 8,790,745 |  |  | $ | 0.02  |  
|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |   |      
|Cumulative effect of accounting change                                                     |                                                                                        | $ | (1,706,416                             | )
|                                                                                           |                                                                                        |   |                                        |  
|Basic EPS                                                                                 
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Cumulative effect of accounting change                                                 |   |                                        |   |               |  |           | 8,644,657 |  |  | $ | (0.19 | )
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Effect of Dilutive
Securities                                                             
|                                                                                           | Options                                                                                |   |                                        |   |               |  | 146,088   |          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Diluted EPS                                                                               
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Cumulative effect of accounting change                                                 |   |                                        |   |               |  |           | 8,790,745 |  |  | $ | (0.19 | )
|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |  
|Net loss applicable to common shareholders                                                 |                                                                                        | $ | (1,512,207                             | )
|                                                                                           |                                                                                        |   |                                        |  
|Basic EPS                                                                                 
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Loss applicable to common shareholders                                                 |   |                                        |   |               |  |           | 8,644,657 |  |  | $ | (0.17 | )
|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |  
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Effect of Dilutive
Securities                                                             
|                                                                                           | Options                                                                                |   |                                        |   |               |  | 146,088   |          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Diluted EPS                                                                               
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                           | Loss applicable to common shareholders                                                 |   |                                        |   |               |  |           | 8,790,745 |  |  | $ | (0.17 | )
|                                                                                           |                                                                                        |   |                                        |   |               |  |           |           |  |  |  





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MEADOWBROOK INSURANCE GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS

|                                             |                                   |   |                                     |  |               |  |           |           |  |  |   |      | 
|-------------------------------------------- | --------------------------------- | - | ----------------------------------- |  | ------------- |  | --------- | --------- |  |  | - | ---- | 
|                                             |                                   |   | Income                              |  | Shares        |  | Per Share
|                                             |                                   |   | (Numerator)                         |  | (Denominator) |  | Amount   
|                                             |                                   |   |                                     |  |               |  |          
|                                             |                                   |   | For the Quarter Ended June 30, 2000
|Net income applicable to common shareholders |                                   | $ | 914,173                             | 
|                                             |                                   |   |                                     | 
|Basic EPS                                   
|                                            
|                                            
|                                            
|                                            
|                                             | Income applicable to shareholders |   |                                     |  |               |  |           | 8,511,663 |  |  | $ | 0.11 | 
|                                             |                                   |   |                                     |  |               |  |           |           |  |  |   |      | 
|                                            
|                                            
|                                            
|                                            
|Effect of Dilutive
Securities               
|                                             | Options                           |   |                                     |  |               |  |          |          
|                                            
|                                            
|                                            
|                                            
|Diluted EPS                                 
|                                            
|                                            
|                                            
|                                            
|                                             | Income applicable to shareholders |   |                                     |  |               |  |           | 8,511,663 |  |  | $ | 0.11 | 
|                                             |                                   |   |                                     |  |               |  |           |           |  |  |  
|                                             |                                   |   | For
the Quarter Ended June 30, 1999
|                                            
|                                            
|                                            
|                                            
|Net income applicable to common shareholders |                                   | $ | 1,631,975                           | 
|                                             |                                   |   |                                     | 
|Basic EPS                                   
|                                            
|                                            
|                                            
|                                            
|                                             | Income applicable to shareholders |   |                                     |  |               |  |           | 8,628,947 |  |  | $ | 0.19 | 
|                                             |                                   |   |                                     |  |               |  |           |           |  |  |  
|                                            
|                                            
|                                            
|                                            
|Effect of Dilutive
Securities               
|                                             | Options                           |   |                                     |  |               |  | 130,040   |          
|                                            
|                                            
|                                            
|                                            
|Diluted EPS                                 
|                                            
|                                            
|                                            
|                                            
|                                             | Income applicable to shareholders |   |                                     |  |               |  |           | 8,758,987 |  |  | $ | 0.19 | 
|                                             |                                   |   |                                     |  |               |  |           |           |  |  |