NEW YORK, July 28 (Reuters) - Platinum Underwriters Holdings Ltd., a Bermuda-based provider of property, casualty and finite risk reinsurance, on Thursday said second-quarter profit rose 37 percent, helped by higher net premiums earned and net investment income.

The Hamilton-based company also named Michael Price chief operating officer, and said H. Elizabeth Mitchell will replace him as president of Platinum Underwriters Reinsurance Inc., the company's US operating unit.

In addition, Platinum named Michael Lombardozzi general counsel and chief administrative officer. Price's and Lombardozzi's appointments require approval by the Bermuda Department of Immigration.

Quarterly net income for Platinum rose to $68 million, or $1.39 per share, from $49.8 million, or $1.01 per share, a year earlier.

Analysts polled by Reuters Estimates, on average, had forecast profit of $1.05 per share.

Revenue rose 40 percent to $460.4 million. Net premiums earned increased 39 percent to $431.5 million, while net investment income rose 49 percent to $28.9 million. Platinum used 84.2 percent of premiums to pay claims and expenses, down from 85.9 percent a year earlier.

Platinum also said it expects 2005 profit to exceed $4.25 per share, as net premiums earned total about $1.6 billion. Analysts on average forecast profit of $4.45 per share.

Platinum shares on Thursday rose 22 cents to $32.80 on the New York Stock Exchange. The company announced results after U.S. markets closed.