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Platinum Underwriter Holdings Ltd.

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PTP.N

ISIN: BMG7127P1005
SEDOL: 2958516

Rating:

HOLD

Target Price:

34.01 USD

Investment Horizon:

6 to 12 months
19th Jan 2009 View Report   Download

3Q 08 Supplement Report

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On 14 January 2009, Platinum Underwriters Holdings Ltd. (Platinum) announced it had revised its claim estimates from Hurricane Ike upwards by US$60 mn, taking total losses to approximately US$165 mn. These losses are higher than our initial estimate. Consequently, we have increased our 4Q 08 and FY 2008 combined ratio estimate. In addition, given the ongoing weakness in global financial…

15th Jan 2009 View Report   Download

Company News Alert

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On 14 January 2009, Platinum Underwriters Holdings Ltd. (Platinum) announced that it has revised its 3Q 08 Hurricane Ike claim estimate. Management now expects claim expenses from Ike to increase by US$60 mn to a total of US$165 mn, net of reinstatement premiums and tax benefits. Considering this, as well as the fact that our target price now supports a HOLD…

22nd Dec 2008 View Report   Download

Company News Alert

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Platinum Underwriters Holdings Ltd. (Platinum) NYSE common stock achieved our target price on 19 December 2008. The increase in price reflects improvement in global financial markets coupled with the company’s strong fundamentals and consistent performance. Moreover, on 19 December 2008, S&P;revised the company’s outlook from stable to positive. Therefore, we maintain our current BUY rating for the NYSE common stock…

24th Nov 2008 View Report   Download

3Q 08 Update Report

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Platinum Underwriters Holdings Ltd. (Platinum) reported a y-o-y decline in total revenue in 3Q 08 reflecting decline in net premiums earned and net investment income, which was further exacerbated by realized losses on investments. Moreover, a significant y-o-y increase in total claims and expenses led to a net loss in 3Q 08.Going forward, we now expect premium rates in the US to begin to recover following recent hurricane…

3rd Nov 2008 View Report   Download

Company News Alert

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The NYSE common stock price has appreciated 26.3% since we downgraded Platinum Underwriters Holdings Ltd.’s (Platinum) NYSE common stock rating to a HOLD. However, considering the weakness in global financial markets and Platinum’s performance in 3Q 08, until we revalue the stock in our next update report, we maintain our HOLD rating for the NYSE common stock although the current target price suggests a BUY....