Exhibit 12.1
Platinum Underwriters Holdings, Ltd.
Ratio of Earnings to Fixed Charges
Period from | ||||||||||||||||||
Nine Months | April 19, | |||||||||||||||||
Ended | Year Ended | Year Ended | 2002 to | |||||||||||||||
September 30, | December 31, | December 31, | December 31, | |||||||||||||||
2005 | 2004 | 2003 | 2002 | |||||||||||||||
($ In thousands) | ||||||||||||||||||
Earnings | ||||||||||||||||||
Earnings before income taxes | $ | (42,942 | ) | 115,133 | 193,698 | $ | 11,093 | |||||||||||
Add fixed charges | 13,186 | 9,268 | 9,492 | 1,444 | ||||||||||||||
Total | (29,756 | ) | 124,401 | 203,190 | 12,537 | |||||||||||||
Fixed charges: | ||||||||||||||||||
Interest Expense | 12,017 | 7,426 | 7,563 | 1,261 | ||||||||||||||
Amortized expenses related to indebtedness | 1,169 | 1,842 | 1,929 | 183 | ||||||||||||||
Total fixed charges | $ | 13,186 | 9,268 | 9,492 | $ | 1,444 | ||||||||||||
Ratio of earnings to fixed charges | * | 13.4 | 21.4 | 8.7 |
* | Earnings were insufficient to cover fixed charges by $42,942,000 for the nine month period ended September 30, 2005. |