Platinum Underwriters Holdings, Ltd. announced today that it has increased the authorized amount under its existing share repurchase program to a total of up to $250 million of its common shares. This represents an increase of approximately $41 million from the approximately $209 million remaining in the program. Repurchases under the program may be made in open market or privately negotiated transactions or otherwise, from time to time, depending on market conditions.

The company also announced that the Board of Directors has declared a quarterly dividend of $0.08 per common share. The dividend is payable on September 30, 2009 to shareholders of record on September 1, 2009.