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RenaissanceRe Completes Platinum Acquisition

RenaissanceRe Completes Platinum Acquisition

[Updated] Bermuda-based RenaissanceRe Holdings Ltd. today [March 2] announced that it has completed its acquisition of Platinum Underwriters Holdings Ltd. Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, commented: “The combination of RenaissanceRe and Platinum marks an important milestone for our company, benefiting... Read more of this article

Platinum Shareholders Approve RenRe Deal

Platinum Shareholders Approve RenRe Deal

Platinum Underwriters Holdings, Ltd. announced that at a special general meeting of shareholders held earlier today [Feb 27], all proposals related to the Company’s pending acquisition by RenaissanceRe Holdings Ltd. were overwhelmingly approved by the Company’s shareholders. “I’d like to thank our shareholders for their support... Read more of this article

RenRe Receives Regulatory Approvals For Deal

RenRe Receives Regulatory Approvals For Deal

RenaissanceRe Holdings Ltd. announced that it has received all regulatory approvals required in connection with its previously announced acquisition of Platinum Underwriters Holdings, Ltd. “The transaction remains subject to approval by the shareholders of Platinum at Platinum’s previously announced shareholder meeting scheduled to be held... Read more of this article

Platinum Underwriters Declares Special Dividend

Platinum Underwriters Declares Special Dividend

Platinum Underwriters Holdings, announced today [Feb 10] that its Board of Directors has, subject to certain conditions, declared a quarterly dividend of $0.08 per common share. The quarterly dividend would be payable on March 31, 2015 to shareholders of record on March 2, 2015. The quarterly dividend is conditioned on Platinum’s previously announced... Read more of this article

Platinum To Hold Special Shareholder Meeting

Platinum To Hold Special Shareholder Meeting

Platinum Underwriters Holdings, Ltd. has scheduled a special meeting of its shareholders for February 27, 2015, in connection with Platinum’s pending acquisition by RenaissanceRe Holdings Ltd. RenaissanceRe previously announced it will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction between the two Bermuda-based... Read more of this article

Fitch: RenRe Deal Could Spark Further M&A

Fitch: RenRe Deal Could Spark Further M&A

RenaissanceRe’s agreement to acquire Platinum Underwriters Holdings could spur merger and acquisition activity among reinsurers, Fitch Ratings says. RenaissanceRe recently announced it will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction between the two Bermuda-based re/insurers expected to close in the first... Read more of this article

Platinum & RenRe Ratings Placed Under Review

Platinum & RenRe Ratings Placed Under Review

Following the announcement that RenaissanceRe will purchase Platinum Underwriters, A.M. Best has placed RenaissanceRe under review with “negative implications,” and placed Platinum under review with “developing implications.” The aggregate consideration for the transaction between the two Bermuda-based re/insurers is $1.9 billion,... Read more of this article

RenRe To Acquire Platinum For $1.9 Billion

RenRe To Acquire Platinum For $1.9 Billion

RenaissanceRe Holdings and Platinum Underwriters Holdings confirmed that RenaissanceRe will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction expected to close in the first half of 2015. The aggregate consideration for the transaction between the two Bermuda-based re/insurers will consist of 7.5 million RenaissanceRe... Read more of this article

Platinum Underwriters Declares  $0.08 Dividend

Platinum Underwriters Declares $0.08 Dividend

Bermuda-based Platinum Underwriters Holdings, Ltd. announced today that the Board of Directors has declared a quarterly dividend of $0.08 per common share. The dividend is payable on December 31, 2014 to shareholders of record on December 1, 2014. Related StoriesAthene Announces Pricing Of Public Offering Oct 2: Bespoke Analytics’... Read more of this article

Platinum Underwriters Reports Q3 Results

Platinum Underwriters Reports Q3 Results

Bermuda-based Platinum Underwriters Holdings, Ltd. reported net income of $29.1 million and diluted earnings per common share of $1.12 for the quarter ended September 30, 2014. The results for the quarter include net premiums earned of $129.5 million, net favorable development of $23.5 million and net investment income of $17.5 million. Michael D.... Read more of this article

Platinum Declares $0.08 Quarterly Dividend

Platinum Declares $0.08 Quarterly Dividend

Bermuda-based Platinum Underwriters Holdings, Ltd. announced that the Board of Directors has declared a quarterly dividend of $0.08 per common share. The dividend is payable on September 30, 2014 to shareholders of record on September 2, 2014. Related StoriesAthene Announces Pricing Of Public Offering Oct 2: Bespoke Analytics’ TimeXtender... Read more of this article

Platinum’s Net Income For Quarter: $36.2 Million

Platinum’s Net Income For Quarter: $36.2 Million

Bermuda-based Platinum Underwriters Holdings, Ltd. reported net income of $36.2 million and diluted earnings per common share of $1.34 for the quarter ended June 30, 2014. The results for the quarter include net premiums earned of $124.8 million, net favorable development of $28.6 million and net investment income of $17.6 million. Michael D. Price,... Read more of this article

A.M. Best Affirms Platinum Underwriters Ratings

A.M. Best Affirms Platinum Underwriters Ratings

Rating company A.M. Best has affirmed the financial strength rating of A [Excellent] and issuer credit ratings [ICR] of “a” of Platinum Underwriters Bermuda, Ltd. [Platinum] [Bermuda] and its strategic affiliate, Platinum Underwriters Reinsurance, Inc. [Baltimore, MD]. A.M. Best also has affirmed the ICR of “bbb” of Platinum’s holding company,... Read more of this article