Platinum Underwriters Holdings Ltd. has announced the appointment of Allan Decleir as executive vice-president and chief financial officer (CFO), effective June 1.

Mr. Decleir, whose move is subject to the approval of the Bermuda Department of Immigration, will succeed James Krantz, who will be retiring from the company on August 10.

Michael Price, president and CEO of Platinum, said: "I am pleased to announce Allan's promotion to chief financial officer. We are fortunate to have a strong internal CFO successor in Allan, who has served as chief financial officer of our Bermuda reinsurance subsidiary for the last five years.

"I would also like to thank Jim Krantz for his dedicated service to Platinum over the last seven years and wish him well in his retirement."

Mr. Decleir, 45, joined Platinum in 2003 and has served as senior vice-president and CFO of Platinum's wholly-owned subsidiary, Platinum Underwriters Bermuda Ltd., since 2005. He is a Chartered Accountant and previously served as CFO of Stockton Reinsurance Ltd., a Bermuda reinsurance company. He began his career working in public accounting at Ernst & Young in 1988.

Platinum also announced that its board of directors has approved an increase in the authorised amount of Platinum's existing share repurchase programme to a total of up to $250 million of its common shares.

This represents an increase of approximately $47 million from the approximately $203 million remaining in the programme.

In addition, Platinum announced that its board has declared a quarterly dividend of eight cents per share. The dividend is payable on June 30 to shareholders of record on June 1.