NEW YORK (AP) - Platinum Underwriters Holdings Ltd. has named one of its directors non-executive chairman and said the reinsurer's existing chairman will retire from the board at the end of his term.

Dan Carmichael will assume the role of chairman after he is re-elected at the company's annual shareholder meeting on April 23. Outgoing chairman Steven Newman will remain as a consultant to Platinum's US subsidiary until April 23, 2010.