Platinum Underwriters Holdings has announced that Steven Newman will retire from its board of directors at the end of his current term. Mr Newman has served as the chairman of the board of Platinum since 2002.

Mr Newman will continue to serve as a consultant to Platinum’s US subsidiary until April 23, 2010. The board of directors of Platinum has appointed Dan Carmichael as its non-executive chairman effective upon his re-election on April 23, 2008.

Mr Carmichael has served as the presiding independent director and chairman of the governance committee of Platinum since 2002. He has also served as a member of the Platinum’s audit committee since 2002.

Michael Price, president and CEO of Platinum, said: I would like to thank Steve for his significant contributions to Platinum’s success over the last five years and I am pleased we will continue to have access to his advice and counsel.