Increased the amount under its existing share repurchase program to a total of up to $250 million
Platinum Underwriters Holdings has announced the increase in the authorised amount under its existing share repurchase program. The company has increased it to a total of up to $250 million of its common shares.
This suggests 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.
Platinum Underwriters Holdings is a provider of property, casualty and finite risk reinsurance coverages, through reinsurance intermediaries. The company operates through its principal subsidiaries in Bermuda and the US.