Platinum to Name Porter CEO-Bermuda

January 27, 2006

Bermuda-based Platinum Underwriters Holdings Ltd. announced that Robert S. Porter will be appointed chief executive officer of its Bermuda reinsurance subsidiary, Platinum Underwriters Bermuda, Ltd., pending approval of the Bermuda Department of Immigration.

He currently serves as CEO and managing director of the company’s UK subsidiary, Platinum Re (UK) Limited, a position he has held since June 2003.

Platinum’s President and CEO Michael D. Price commented: “Robert is an excellent reinsurance executive and we’re pleased that he will be leading our efforts to expand the scale and scope of our Bermuda operating subsidiary. We expect that over time our Bermuda subsidiary will become the principal carrier for our global catastrophe portfolios and financial lines.”

Prior to joining Platinum, Porter held a variety of management and underwriting positions in the reinsurance unit of The St. Paul Companies in their London, New York and Miami operations. He is also a Fellow of the Chartered Institute of Insurers in the United Kingdom.

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