Platinum Acknowledges Receipt of Subpoena in Finite Reinsurance Probe

bermuda-based Platinum Underwriters Holdings, Ltd. announced that it has received a subpoena from the Securities and Exchange Commission for documents relating to certain non-traditional, or loss mitigation, insurance products.

The bulletin indicated the subpoena was issued as part of “an industry-wide investigation.”

Platinum said it also “expects to receive a similar request from the Office of the Attorney General for the State of New York, and indicated that the company “intends to fully cooperate in responding to all such requests.”