Platinum Underwriters Group (Bermuda) and its members have been affirmed the financial strength rating of A (excellent) and the issuer credit ratings of "a" by AM Best.

Best has also affirmed the ICR of "bbb" of Platinum Underwriters Holdings, Ltd. (Bermuda) and the debt ratings of Platinum and Platinum Underwriters Finance Inc. The outlook for all ratings is stable.

According to AM Best, the ratings reflect the group's very strong capitalisation, strong operating results and established business position as a global, multi-line provider of reinsurance coverages. The ratings also reflect the group's good financial flexibility, solid liquidity and proven ability to access the capital markets.

Somewhat offsetting these strengths are the current challenges occurring in the global reinsurance market including rate softening and increased competition. The outlook reflects Platinum's strong risk management capabilities and well seasoned management team.

The group has generated very strong underwriting results over the most recent five-year period.