BNET Industries
Market Cap:$1.8B
Last Fiscal Year Sales:$1.3B
- Public
- BM
Dow Jones Description
Platinum Underwriters is better than gold. Founded in 2002 and headquartered in Pembroke, Bermuda, Platinum Underwriters Holdings, Ltd. (NYSE: PTP) provides various reinsurance services. The company offers property, casualty, marine, and finite risk lines in Bermuda, the US, and UK. Its subsidiaries include Platinum Underwriters Reinsurance, Platinum Re UK, and Platinum Underwriters Bermuda. The company had 2005 revenue of about $1.8 billion and employs about 165 people. In October 2005, it entered into a three-year $200,000,000 credit agreement with a syndicate of lenders.
President & CEO
Michael D. PriceNumber of Employees 153
Contact Information
The Belvedere Building 69 Pitts Bay Road
Pembroke HM 08
(441) 295 7195
Peer Companies
NAICS Code Direct Property and Casualty Insurance Carriers: 524126
Recent Events
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Goldman Sachs Upgrades TRV and XL, Downgrades PTP and RNR
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BRIEF-RESEARCH ALERT-Goldman raises Travelers, XL Capital to buy
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Platinum Underwriters Holdings, Ltd. Declares Quarterly Dividend on Common Shares
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Platinum Underwriters Turns To Profit In Q3 - Update
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BRIEF-KBW raises targets on U.S. property & casualty insurers
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Platinum Underwriters Holdings, Ltd. to Report Third Quarter 2009 Financial Results...
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Platinum Reports Q2 Financial Results
News & Analysis
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platinum underwriters holdings ltd. - All News and Analysis
Platinum Underwriters Holdings, Ltd. Reports Fourth Quarter and Year Ended December 31, 2008 Financial Results
- 2009-02-18
HAMILTON, Bermuda, Feb. 18 /PRNewswire-FirstCall/ -- Platinum Underwriters Holdings, Ltd. today reported net income of $64.1 million, or $1.18 per diluted common share, for the quarter ended December 31, 2008 and net income of $226.2 million, or $3.98 per diluted common share, for the year ended December 31,...
Platinum Underwriters Holdings, Ltd. Announces Conversion of All of Its Outstanding 6% Series A Mandatory Convertible Preferred Shares
- 2009-02-12
HAMILTON, Bermuda, Feb 12 /PRNewswire-FirstCall/ -- Platinum Underwriters Holdings, Ltd. announced today that the mandatory conversion of all of its 5,750,000 outstanding 6% Series A Mandatory Convertible Preferred Shares will occur on February 17, 2009. Based on the arithmetic average of the volume-weighted average price of the...
Has added Platinum Underwriters Holdings Ltd. to their watch list.
- 2008-02-21
M2 PRESSWIRE-21 February 2008-MG Strategies: Has added Platinum Underwriters Holdings Ltd. to their watch list.C1994-2008 M2 COMMUNICATIONS LTD RDATE:21022008 Maybach Financial is a syndicate of financial informants representing a true investing experience. Taking research from financial consultants, brokers, researchers, and...
Progressive Following on Platinum Underwriters Holdings Ltd.
- 2008-02-20
M2 PRESSWIRE-20 February 2008-NYSENEWS: Progressive Following on Platinum Underwriters Holdings LtdC1994-2008 M2 COMMUNICATIONS LTD RDATE:20022008 InvestorIM has been created as a tool for the average investor. The idea is simple, a website where the world can communicate. Do you have a ...
A Look Into Platinum Underwriters Holdings Ltd.
- 2008-01-17
M2 PRESSWIRE-17 January 2008-Market Review: A Look Into Platinum Underwriters Holdings Ltd.C1994-2008 M2 COMMUNICATIONS LTD RDATE:17012008 Stocks were mixed in early morning trading Wednesday following the announcement that Intel Corp. had disappointing earnings. However, JP Morgan Chase & Co. did offer...
Q4 2005 Platinum Underwriters Holdings Ltd Earnings Conference Call - Research and Markets Offers a Brief of 'Platinum Underwriters Holdings Ltd' Conference Call
- 2006-02-27
DUBLIN, Ireland -- The Platinum Underwriters Holdings Ltd (NYSE:PTP) Corporate Conference Call took place on 27-Feb-06 9:00am ET. PTP reported that net loss to common shareholders was $103m or $1.94 for basic and fully diluted common shares in 4Q05 and net loss to common shareholders for the year-ended 12/31/05...
Finite re probes hitting Bermuda hard; investigations undermine sector, threaten revenues and hike carrier expenses.(BERMUDA UPDATE)
- 2005-05-16
BERMUDA REINSURANCE companies--which have traditionally written a substantial amount of finite re deals--are feeling the heat of heightened scrutiny as regulatory probes into these types of alternative risk transfers rage on and the demand for such products begin to dry up. With New York...
Platinum Underwriters Holdings First-Quarter Financial Results Teleconference
- 2003-04-08
Business Editors HAMILTON, Bermuda--BUSINESS WIRE--April 8, 2003 Platinum Underwriters Holdings, Ltd. (NYSE: PTP) will report financial results for the first quarter ended March 31, 2003 after the close of the stock market on Tuesday, May 13, 2003. The Company will host a teleconference the next morning, Wednesday,...
Platinum Underwriters Holdings Names Justin Cressall Treasurer
- 2003-03-31
Business Editors HAMILTON, Bermuda--BUSINESS WIRE--March 31, 2003 Platinum Underwriters Holdings, Ltd. (NYSE:PTP) today announced the appointment of Justin Cressall as Treasurer. Mr. Cressall joins Platinum from KPMG LLP, where he has held various positions serving the firm's insurance, reinsurance and financial services clientele. As part of his...
Platinum Underwriters Holdings Presentation at Association of Insurance and Financial Analysts Conference to Be Webcast Live
- 2003-02-28
Business Editors HAMILTON, Bermuda--BUSINESS WIRE--Feb. 28, 2003 Platinum Underwriters Holdings, Ltd. (NYSE: PTP) President and CEO Jerome T. Fadden will deliver a company presentation at the Association of Insurance and Financial Analysts Annual Conference in Scottsdale, Arizona on Tuesday, March 4, 2003 at 3:00 pm Mountain time (5:00...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Michael D. Price | President & CEO |
| Joseph F. Fisher | CFO & Executive Vice President |
| Lily B. Outerbridge | Vice President & Director, Investor Relations |
| Justin Cressall | Treasurer |
| Robert V. Deutsch | Coordinator, Risk |
| H. Furlong Baldwin | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Steven H. Newman | Chairman |
| Dan R. Carmichael | Board of Directors |
| Jonathan F. Bank | Board of Directors |
| Peter T. Pruitt | Board of Directors |
Mr. Price has been a director since 2005. Mr. Price has been President and Chief Executive Officer of the Company since October 2005 and was Chief Operating Officer of the Company from August 2005 until October 2005. Prior thereto, he was President of Platinum Underwriters Reinsurance, Inc.
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | President & CEO | Current |
| Platinum Underwriters Holdings, Ltd. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | CFO & Executive Vice President | Current |
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | Vice President & Director, Investor Relations | Current |
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | Treasurer | Current |
| Organization | Position | Status |
|---|---|---|
| Iron Shore Inc. | Chief Executive Officer | Current |
| Ironshore Technical Services, Inc. | Chief Executive Officer | Current |
| Platinum Underwriters Holdings, Ltd. | Coordinator, Risk | Current |
| American Academy of Actuaries | Board of Directors | Current |
| Platinum Underwriters Holdings, Ltd. | Board Member | Current |
| Chaucer Holdings Plc | Board of Directors | Current |
| Platinum Underwriters Reinsurance, Inc. | Board of Directors | Current |
| Casualty Actuarial Society | Fellow | Current |
| Platinum Underwriters Reinsurance, Inc. | Member of the Audit, Compensation and Executive Committees | Current |
| Iron Shore Inc. | President | Former |
| CNA Financial Corporation | Executive Vice President and Chief Financial Officer | Former |
| Iron Shore Inc. | Director | Former |
| Casualty Actuarial Society | Director | Former |
| Darwin Professional Underwriters, Inc. | Board of Directors | Former |
| Wharton Graduate School of the University of Pennsylvania | B.S. In Economics | Former |
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | Chairman | Current |
| Platinum Underwriters Holdings, Ltd. | Chairman | Current |
Mr. Carmichael has been a director since 2002 and Chairman of the Board of Directors since 2008. Mr. Carmichael has been an advisor and consultant with Proudfoot Consulting, a management consulting firm, since January 2008. From August 2007 to October 2008, he was an executive consultant to Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group. Prior thereto, Mr. Carmichael was President, Chief Executive Officer and a Director of Ohio Casualty Corporation, an insurance holding company. Mr. Carmichael is a Director of Alleghany Corporation.
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Allegheny Energy, Inc. | Director | Current |
| W.R. Grace & Company | Board of Directors | Current |
| Platinum Underwriters Holdings, Ltd. | Director | Current |
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | Board of Directors | Current |
Mr. Pruitt has been a director since 2002. Mr. Pruitt was Chairman of Willis Re Inc., a reinsurance intermediary, from June 1995 until his retirement in December 2001.
| Organization | Position | Status |
|---|---|---|
| Platinum Underwriters Holdings, Ltd. | Board of Directors | Current |
| Volume | 162,613 |
| Shares Outstanding | 49.8M |
| Market Cap | 1.8B |
| Year High | 38.50 |
| Year Low | 25.18 |
| Earnings Per Share | 6.76 |
| P/E Ratio | 5.3979 |
| Dividend | 0.32 |
| Yield | 0.876953 |
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