Platinum News

RenaissanceRe to Acquire Platinum Underwriters in $1.9 Billion Deal

RenaissanceRe Holdings Ltd. and Platinum Underwriters Holdings Ltd. announced that the companies have entered into a definitive merger agreement under which RenaissanceRe will acquire Platinum. Under the terms of the transaction, the common shareholders of Platinum will receive $76.00 per …

Platinum estimates $24.8 Million Q1 2012 Losses from Catastrophes

Bermuda-based Platinum Underwriters Holdings, Ltd. announced that it expects major catastrophe losses will have a net negative impact of approximately $24.8 million on the Company’s results for the quarter ended March 31, 2012.  The company explained that the losses were …

Best Affirms Platinum Underwriters ‘A’ Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Platinum Underwriters Bermuda, Ltd. and its strategic affiliate, Baltimore-based Platinum Underwriters Reinsurance, Inc. Best also affirmed the ICR of “bbb” …

Bermuda Re/Insurers Announce Q3 Cat Loss Estimates

A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries, reinstatement premiums and taxes. Aspen Insurance Holdings Limited …

S&P Revises Outlook on Platinum to Negative; Affirms Ratings

In an announcement that received slightly less notice than the downgrading of the U.S.’ ratings from ‘AAA’ to ‘AA+’, Standard & Poor’s also announced that it has revised its outlook on Platinum Underwriters Reinsurance Inc. and Platinum Underwriters Bermuda Ltd. …

S&P Affirms Platinum Underwriters and Operating Subs Ratings

Standard & Poor’s has affirmed its ‘A’ counterparty credit and financial strength ratings on Platinum Underwriters Reinsurance Inc. and Platinum Underwriters Bermuda Ltd. (collectively referred to as Platinum). S&P also affirmed its ‘BBB+’ counterparty credit rating on Platinum Underwriters Holdings Ltd. …

Best Affirms Platinum Underwriters and Subs Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Platinum Underwriters Bermuda, Ltd. and its strategic affiliate Platinum Underwriters Reinsurance, Inc. Best also affirmed the ICR of “bbb” …

Best Places Topiary Capital Debt Rating under Review/Developing

A.M. Best Co. has placed under review with developing implications the debt rating of “bb+” on $200 million Series 2008-1 Class A principal at-risk variable rate notes due August 5, 2011, issued by Topiary Capital Limited, which is based in …