Platinum Housing: Avg $35,000 Per Month Each
The NYTimes reports that Bermuda based insurance company Platinum Underwriters Holdings Ltd spent $1.7 million to house four of its top executives in 2009.
In the company’s preliminary proxy statement, Platinum disclosed that it spent almost $1.7 million in housing allowance for the four executives.
This works out at an average of $35,000 a month each.
Platinum is a Bermuda-based provider of property and casualty reinsurance coverage. Founded in 2002, it is listed as having 142 employees.
2009 Housing Costs:
- The President and CEO Michael D. Price: $480,000 | $40,000 per month
- General Counsel Michael E. Lombardozzi: $480,000 | $40,000 per month
- Chief Executive Officer Robert S. Porter: $432,000 | $36,000 per month
- Chief Financial Officer James A. Krantz: $288,000 | $24,000 per month
