Platinum Underwriters Holdings Ltd. has announced it has increased the authorised amount of its share repurchase programme to $250 million.

This represents a rise of approximately $194.6 million from the approximately $55.4 million remaining in the programme.

Buybacks under the programme may be made in open market or privately negotiated transactions or otherwise, depending on market conditions.

The company also announced that the board of directors has declared a quarterly dividend of eight cents per common share. The dividend is payable on December 31, 2010 to shareholders of record on December 1, 2010.