Platinum Underwriters Holdings, Ltd. Reports Record Fourth Quarter and Year Ended December 31, 2007 Financi...($112842 GAAP underwriting ratios: ...),Health

GAAP underwriting ratios:

Loss and LAE 35.7% 62.6% (70.7%) 48.1%

Acquisition expense 13.6% 24.4% 85.1% 21.2%

Other underwriting expense 7.5% 4.7% 10.2% 6.0%

Combined 56.8% 91.7% 24.6% 75.3%

Three Months Ended December 31, 2006

Segment underwriting results

Net premiums written $91,023 173,725 10,825 $275,573

Net premiums earned 106,637 191,173 17,916 315,726

Net losses and LAE 41,024 128,728 5,184 174,936

Net acquisition expenses 15,122 47,692 2,824 65,638

Other underwriting expenses 12,245 3,535 452 16,232

Total underwriting expenses 68,391 179,955 8,460 256,806

Segment underwriting income $38,246 11,218 9,456 58,920

Net investment income 50,822

Net realized gains on investments 1,068

Net foreign currency exchange gains 277

Other expense (945)

Corporate expenses not allocated to

segments (7,530)

Interest expense (5,453)

Income before income tax expense $97,159

GAAP underwriting ratios:

Loss and LAE 38.5% 67.3% 28.9% 55.4%

Acquisition expense 14.2% 24.9% 15.8% 20.8%

Other underwriting expense 11.5% 1.8% 2.5% 5.1%

Combined 64.2% 94.0% 47.2% 81.3%

The GAAP
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