(Bloomberg) Platinum Underwriters Holdings Ltd., a Bermuda-based reinsurer, said it received a subpoena from the US Securities and Exchange Commission about insurance policies that have come under scrutiny as a possible tool to hide losses.

Platinum, the fourth insurer to disclose such a request this week, also expects a subpoena from New York Attorney General Eliot Spitzer, the company said in a statement distributed by PR Newswire.

Regulators are investigating a type of policy called non- traditional, or finite, insurance because some contracts can provide financing like a loan while being accounted for as insurance. Platinum last week cancelled a policy with Warren Buffett?s Berkshire Hathaway Inc. to avoid concern that the company was using the agreement to mask hurricane losses.

ACE Ltd., St. Paul Travelers Cos. and Zurich Financial Services AG reported subpoenas about the policies this week.

The inquiry is a new area of investigation for Spitzer, who is also probing bid-rigging and kickbacks between insurers and insurance brokers.