Platinum Underwriters Holdings, Ltd. Reports Record Fourth Quarter and Year Ended December 31, 2007 Financi...(base through share repurchases subject t...),Health

Results for the quarter ended December 31, 2007 were summarized as follows:

-- Net income was $102.2 million or $1.60 per diluted common share.

-- Net premiums written were $241.0 million and net premiums earned were

$302.0 million.

-- GAAP combined ratio was 75.3%.

-- Net investment income was $53.6 million.

Results for the quarter ended December 31, 2007 compared to the quarter ended December 31, 2006 were summarized as follows:

-- Net income increased $16.2 million (or 18.9%).

-- Net premiums written decreased $34.5 million (or 12.5%) and net

premiums earned decreased $13.7 million (or 4.3%).

-- GAAP combined ratio decreased 6.0 percentage points.

-- Net investment income increased $2.7 million (or 5.4%).

Net premiums written for Platinum's Property and Marine, Casualty and Finite Risk segments for the quarter ended December 31, 2007 were $105.6 million, $128.7 million and $6.8 million, respectively, representing 43.8%, 53.4% and 2.8%, respectively, of the total net premiums written. Combined ratios for these segments were 56.8%, 91.7% and 24.6%, respectively. Compared to the quarter ended December 31, 2006, net premiums written increased $14.6 million (or 16.0%) in the Property and Marine segment and decreased $45.1 million (or 25.9%) and $4.0 million (or 37.2%) in the Casualty and Finite Risk segments, respectively.

Results for the year ended December 31, 2007 were summarized as follows:

-- Net income was $357.0 million or $5.38 per diluted common share.

-- Net premiums written were $1.12 billion and net premiums earned were

$1.17 billion.

-- GAAP combined ratio was 81.0%.

-- Net investment income was $214.2 million.

Results for the year ended December 31, 2007 compared to the year ended December 31, 2006 were summarized as foll
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