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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 12, 1999
DATE OF EARLIEST EVENT REPORTED: OCTOBER 11, 1999
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 Number)
incorporation or
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.
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On October 11, 1999, the registrant issued the press release filed as
Exhibit 99.1 hereto.
Item 7. Financial Statements and Exhibits.
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Exhibit Description
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99.1 Press Release issued October 11, 1999
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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 12, 1999
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 11, 1999
EXHIBIT 99.1
Contact: The Torrenzano Group
Don Schuster or Beth Jarecki
212-681-1700 Ext. 103/115
NICHOLAS BROWN RESIGNS FROM STIRLING COOKE BROWN
HAMILTON, BERMUDA, October 11, 1999 - Stirling Cooke Brown Holdings Limited
(NASDAQ: SCBHF) today announced that Nicholas Brown has resigned from his
position as managing director and head of London brokering operations to
pursue new business ventures.
"Nick Brown has made major contributions during his tenure with Stirling
Cooke," said Len Quick, acting Chief Executive Officer. "We wish him the
best of success in his new ventures."
Mr. Brown plans to create a new company. "My experience with Stirling Cooke
was very rewarding. At this time, I'm delighted to have a unique
opportunity to create a new company. I'm sure that Stirling Cooke will do
very well in the future, and I will miss working with so many first-rate
people."
Mr. Quick added, "We have instituted major restructurings and realignments
during 1999, and we expect to sharpen our focus further to meet competitive
market conditions. We have made considerable progress on a number of fronts
and plan to continue this process over the coming months."
Stirling Cooke merged its two London reinsurance brokerage operations into
a single business unit effective July 1, 1999, to achieve management,
information systems, and other efficiencies. Full integration of the
personnel and systems of the prior reinsurance brokerage units should be
completed by the end of 1999. Mr. Brown's departure is not expected to
affect that schedule.
Stirling Cooke Brown Holdings Limited is a Bermuda holding company that,
through its subsidiaries, provides risk management services and products
predominantly to small- and mid-sized businesses, including those seeking
cost-effective alternatives to traditional commercial insurance for certain
of their risk exposures. In addition, Stirling Cooke 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.
