<PAGE> 1
AmerUs Life Holdings, Inc.
Exhibit 11 - Statement Re: Computation of Earnings Per Share
<TABLE>
<CAPTION>
Three Months Ended June 30,
--------------------------------------------------------------------------------------
2000 1999
--------------------------------------------------------------------------------------
Number of Per Share Number of Per Share
Net Income Shares Amount Net Income Shares Amount
--------------------------------------------------------------------------------------
($ in thousands, except per share data)
<S> <C> <C> <C> <C> <C> <C>
Basic EPS
Net Income $ 20,605 29,924 $ 0.69 $ 16,591 30,433 $ 0.55
Effect of dilutive securities
Options - 17 - - 90 (0.01)
Warrants - - - - - -
Stock appreciation rights - - - - - -
-------- ------ ------ -------- ------- ------
Diluted EPS $ 20,605 29,941 $ 0.69 $ 16,591 30,523 $ 0.54
======== ====== ====== ======== ======= ======
<CAPTION>
Six Months Ended June 30,
--------------------------------------------------------------------------------------
2000 1999
--------------------------------------------------------------------------------------
Number of Per Share Number of Per Share
Net Income Shares Amount Net Income Shares Amount
--------------------------------------------------------------------------------------
($ in thousands, except per share data)
Basic EPS
Net Income $ 36,323 29,946 $ 1.21 $ 33,548 30,432 $ 1.10
Effect of dilutive securities
Options - 26 - - 63 -
Warrants - - - - - -
Stock appreciation rights - - - - - -
-------- ------- ------ -------- ------ ------
Diluted EPS $ 36,323 29,972 $ 1.21 $ 33,548 30,495 $ 1.10
======== ======= ====== ======== ====== ======
</TABLE>
52