Fitch: Platinum Underwriters outlook stable

Fitch Ratings said it affirmed the ratings of Platinum Underwriters Holding Ltd. and its subsidiaries. The agency also revised the outlook to stable from negative.

Fitch said it revised the outlook following a significant improvement in the company's underwriting results in the first nine months of 2012. These results are in line with the strong performance that Platinum has reported over the long-term, with no further adverse development on 2011 catastrophe events and a materially reduced exposure to U.S. and international catastrophe losses, the agency said.

The ratings also reflect Platinum's history of solid capitalization, moderate financial and operating leverage, and high-quality and liquid investment portfolio, Fitch said.

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