Hashtag: #PlatinumUnderwritersHoldings
Platinum: Floods Will Cost $27.9M
Bermuda ‘s Platinum Underwriters Holdings, Ltd. said today [Jan. 27] it expects 2011 catastrophes to have a $55.4 million impact fourth-quarter results, including an impact of about $27.9 million for flooding in Thailand. The Hamilton-based company also expects increases to its estimates for the March earthquake and tsunami inJapanand February... Read more of this article
Platinum Receives Florida Go-Ahead
Florida’s Office of Insurance Regulation has signed a consent order allowing Bermuda’s Platinum Underwriters to operate with reduced collateral and as an eligible reinsurer in the state. The signed consent makes Platinum as the 16th Bermuda reinsurer to operate in Florida with similar terms, out of a total of about 18 eligible reinsurers... Read more of this article
Analysts Upgrade Bermuda’s Platinum
Bermuda’s Platinum Underwriters was upgraded by equities research analysts at Zacks Investment Research from an “underperform” rating to a “neutral” rating in a research note issued to investors today [Dec.14]. Separately, analysts at Credit Suisse initiated coverage on shares of Platinum Underwriters in a research note to investors last... Read more of this article
Platinum Underwriters Quarterly Dividend
Bermuda-based Platinum Underwriters Holdings, Ltd. announced yesterday [Oct.26] that its Board of Directors has declared a quarterly dividend of $0.08 per common share. The dividend is payable on December 30, 2011 to shareholders of record on December 1, 2011. Related Stories BTC Sale To Barrie Holdings Ltd. Completed Banker Larry Slaughter Joins... Read more of this article
Platinum Reports $53.5 Million Loss
Bermuda-based Platinum Underwriters Holdings, Ltd. today [Oct. 20] reported a net loss of $53.5 million and a loss per common share of $1.43 for the quarter ended September 30, 2011. The results for the quarter include net premiums earned of $166.8 million, net favorable development of $27.8 million, net investment income of $29.8 million and net realized... Read more of this article
Platinum Loss Estimates: 2011 Catastrophes
Platinum Underwriters Holdings, Ltd. announced that it expects losses from major catastrophes in the third quarter of 2011 and increases to its loss estimates for major catastrophes in the first and second quarters of 2011 will have a net negative impact of approximately $112.4 million on the Company’s third quarter 2011 results. A statement released... Read more of this article
Platinum Declares Quarterly Dividend
Bermuda based Platinum Underwriters Holdings, Ltd. announced today [July 20] that its Board of Directors has declared a quarterly dividend of $0.08 per common share. The dividend is payable on September 30, 2011 to shareholders of record on September 1, 2011. Yesterday the Company reported a net loss of $20.4 million and a loss per common share of $0.55... Read more of this article
Platinum Reports Net Loss Of $20.4 Million
Bermuda based re/insurer Platinum Underwriters Holdings Ltd. today [July 19] reported a net loss of $20.4 million and a loss per common share of $0.55 for the quarter ended June 30, 2011. The results for the quarter include net premiums earned of $172.4 million, net favorable development of $16.4 million, net investment income of $34.0 million and net... Read more of this article
Platinum Estimates Q1 Losses: $75m
Bermuda based re/insurer Platinum Underwriters Holdings, Ltd. announced that it expects losses from catastrophes in the second quarter of 2011 and increases to its loss estimates for catastrophes in the first quarter of 2011 will have a net negative impact of approximately $74.8 million on the Company’s second quarter 2011 results. The net negative... Read more of this article
Standard & Poor’s Affirms Platinum Ratings
Standard & Poor’s has affirmed its ‘A’ counterparty credit and financial strength ratings on Platinum Underwriters Reinsurance Inc. and Platinum Underwriters Bermuda Ltd. S&P also affirmed its ‘BBB+’ counterparty credit rating on Platinum Underwriters Holdings Ltd. The outlook on all of these ratings remains stable. The announcement... Read more of this article
Platinum Financial Strength Rating Affirmed
A.M. Best Co. today [May 27] affirmed the financial strength rating of A [Excellent] and issuer credit ratings [ICR] of “a” of Platinum Underwriters Bermuda, Ltd. and its strategic affiliate Platinum Underwriters Reinsurance, Inc. The international ratings agency also has affirmed the ICR of “bbb” of Platinum Underwriters Holdings, Ltd. and... Read more of this article
Platinum Reports Hefty First Quarter Loss
Bermuda re/insurer Platinum Underwriters Holdings Ltd. yesterday [Apr. 19] reported a substantial first-quarter loss due to the recent earthquake and tsunami in Japan as well as natural disasters in New Zealand and Australia. However, the Bermuda company said it expects property catastrophe reinsurance rates to improve for the rest of the year, especially... Read more of this article
