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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT: OCTOBER 7, 1998
DATE OF EARLIEST EVENT REPORTED: OCTOBER 7, 1998
STIRLING COOKE BROWN HOLDINGS LIMITED
(Exact name of registrant as specified in its charter)
BERMUDA 000-23427 NOT APPLICABLE
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification
incorporation or Number)
organization)
VICTORIA HALL, THIRD FLOOR
11 VICTORIA STREET
HAMILTON, HM 11, BERMUDA
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (441) 295-7556
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Item 5. Other Events.
On October 7, 1998, the registrant issued the press release filed as
Exhibit 99.1 hereto.
Item 7. Financial Statements and Exhibits.
Exhibit Description
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99.1 Press Release issued October 7, 1998
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
Dated: October 7, 1998
STIRLING COOKE BROWN HOLDINGS LIMITED
By: /s/ George W. Jones
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George W. Jones
Chief Financial Officer
and Director
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EXHIBIT INDEX
Exhibit Description
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99.1 Press Release issued October 7, 1998
Exhibit 99.1
[STIRLING COOKE BROWN HOLDINGS LIMITED LETTERHEAD]
FOR IMMEDIATE RELEASE
CONTACT: Mark Cooke
George Jones
Tel: 441-295-7556
Fax: 441-295-7201
STIRLING COOKE BROWN HOLDINGS LIMITED ANNOUNCES
250,000 SHARE REPURCHASE PROGRAM
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HAMILTON, BERMUDA (7th October, 1998) -- Stirling Cooke Brown Holdings
Limited (Nasdaq: SCBHF) today announced that it has authorized a subsidiary
of the Company to repurchase up to 250,000 shares of the Company's
outstanding ordinary shares. Stirling Cooke Brown Holdings Limited expects
such repurchases to be effected from time to time, in the open market, in
private transactions or otherwise, subject to market conditions. No
assurance can be given as to the time period over which the shares will be
repurchased or as to whether and to what extent the share repurchase will
be consummated.
Mark Cooke, Chairman Chief Executive Officer said, "In light of the recent
market turmoil and the current price level of SCBHF stock, we believe that
this program represents an attractive investment. The Company believes that
utilizing excess capital to repurchase its shares is consistent with the
best interests of its shareholders and provides management with an
additional tool for enhancing shareholder value".
Stirling Cooke Brown Holdings Limited is a Bermuda holding company which,
through its subsidiaries, provides risk management services and products
predominantly to U.S. based small and mid-sized businesses, including those
seeking cost-effective alternatives to traditional commercial insurance for
certain of their risk exposures. In addition, the Company arranges
reinsurance for its products as well as for those offered by independent
insurance carriers and reinsurance companies active in the workers'
compensation, occupational accident and health and casualty insurance markets.
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