EXHIBIT 11

<TABLE>

                   STIRLING COOKE BROWN HOLDINGS LIMITED

      STATEMENT OF COMPUTATION OF NET INCOME (LOSS) PER ORDINARY SHARE

 (Expressed in thousands of United States Dollars, except share and per share data)

<CAPTION>
                                                  1999                                                 2000
                           -----------------------------------------------------    ----------------------------------------
                                                        Cumulative
                                                       effect of a
                                             Dis-       change in                                    Dis-
                          Continued       continued     accounting                  Continued       continued
                          operations     operations     principle       Total       operations      operations      Total
                          ----------     ----------     ----------      -----       ----------      ----------      -----

<S>                       <C>            <C>           <C>            <C>           <C>            <C>           <C>
Net Loss.............     $    (4,820)   $   (1,590)   $      (307)   $   (6,717)   $  (15,976)    $  (11,029)   $  (27,005)
                          ===========    ==========    ===========    ==========    ==========     ===========   ===========


BASIC
Number of Shares:
Weighted average
 number of ordinary
 shares outstanding..       9,863,372     9,863,372      9,863,372     9,863,372     9,877,619      9,877,619      9,877,619
Weighted average          -----------    ----------    -----------    ----------    ----------     ----------    -----------
 treasury
 shares held.........        (383,016)     (383,016)      (383,016)     (383,016)     (443,400)      (443,400)     (443,400)
                          -----------    ----------    -----------    ----------    ----------     ----------    -----------
                            9,480,356     9,480,356      9,480,356     9,480,356     9,434,219      9,434,219      9,434,219
                          ===========    ==========    ===========    ==========    ==========     ==========    ===========
Net loss per share...     $     (0.51)   $    (0.17)   $     (0.03)   $    (0.71)   $    (1.69)    $    (1.17)   $     (2.86)
                          ===========    ==========    ===========    ==========    ==========     ==========    ===========

DILUTED
Number of shares:
Weighted average
  number of ordinary
  shares outstanding..      9,863,372     9,863,372      9,863,372     9,863,372     9,877,619      9,877,619      9,877,619
Weighted average
  treasury
  shares held........        (383,016)     (383,016)      (383,016)     (383,016)     (443,400)      (443,400)      (443,400)
                          ===========    ==========    ===========    ==========    ==========     ==========    ===========
                            9,480,356     9,480,356      9,480,356     9,480,356     9,434,219      9,434,219      9,434,219
                          ===========    ==========    ===========    ==========    ==========     ==========    ===========

Net loss per share
 assuming dilution...     $     (0.51)    $   (0.17)   $     (0.03)   $    (0.71)   $    (1.69)    $    (1.17)    $    (2.86)
                          ===========    ==========    ===========    ==========    ==========     ==========    ===========



<CAPTION>
                                           2001
                          ----------------------------------------
                                            Dis-
                            Continued    continued
                           operations    operations      Total
                          -----------    ----------      -----

<S>                       <C>             <C>             <C>
Net Loss.............     $   (15,143)   $   (6,187)   $   (21,330)
                          ===========    ==========    ===========


BASIC
Number of Shares:
Weighted average number
 of ordinary shares
 outstanding.........       9,863,372     9,863,372      9,863,372
                          -----------    ----------    -----------
Weighted average
 treasury
 shares held.........        (443,400)     (443,400)      (443,400)
                          -----------    ----------    -----------
                            9,519,972     9,519,972      9,519,972
                          ===========    ==========    ===========
Net loss per share...     $    (1.59)    $    (0.65)   $     (2.24)
                          ===========    ==========    ===========

DILUTED
Number of shares:
Weighted average
  number of
  ordinary shares
  outstanding........       9,963,372     9,963,372      9,963,372
Weighted average
  treasury
  shares held........        (443,400)     (443,400)      (443,400)
                          ===========    ==========    ===========
                            9,519,972     9,519,972      9,519,972
                          ===========    ==========    ===========

Net loss per share
 assuming dilution...     $     (1.59)   $    (0.65)   $     (2.24)
                          ===========    ==========    ===========





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