Earnings Report: Platinum Underwriters

April 24, 2012

                                                                                Q1 2012         Q1   2011          
Net premiums written ————           $143.66 mn     $194.78 mn
Net premiums earned  ———–            $138.21mn      $182.88 mn  
Net income (loss) ——————           $53.287 mn     ($157.19 mn)             
Net Operating income (loss) —–           $32.778 mn      ($154.81 mn)
Investment gains  ——————           $22.34 mn       ($0.407 mn
Investment Impairment  loss —-          ($1.07 mn)        ($1.507 mn) 
Net investment income ————         $28.552 mn      $32.378 mn

Q1 combined ratio – 88.2 percent (200.4 percent in Q1 2011)
Q1 combined ratio (statutory) – 86.6 percent (198.7 percent in Q1 2011)

The complete report may be obtained on the company’s website.

Source: Platinum Underwriters (Platinum Re)

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