Platinum Underwriters Holdings Increases Buyback Program to $250M

Platinum Underwriters Holdings, Ltd. PTP announced today that it has increased the authorized amount under its existing share repurchase program to a total of up to $250.0 million of its common shares. This represents an increase of approximately $139.9 million from the approximately $110.1 million remaining in the program. Repurchases under the program may be made in open market or privately negotiated transactions or otherwise, from time to time, depending on market conditions. The Company also announced that the Board of Directors has declared a quarterly dividend of $0.08 per common share. The dividend is payable on March 31, 2011 to shareholders of record on March 1, 2011.