Exhibit 12.1

Platinum Underwriters Holdings, Ltd.

Ratio of Earnings to Fixed Charges

($ in Thousands)

	Six Months		Three Months		Year Ended		Year Ended		Period from
	Ended June 30,		Ended March 31,		December 31,		December 31,		April 19, 2002 to
	2005		2005		2004		2003		December 31, 2002
Earnings
Earnings before income taxes	$	170,850		83,036		115,133		193,698	$	11,093
Add fixed charges		6,347		2,173		9,268		9,492		1,444
Total		177,197		85,209		124,401		203,190		12,537
Fixed charges:
Interest Expense		5,512		1,835		7,426		7,563		1,261
Amortized expenses related to indebtedness		835		337		1,842		1,929		183
Total fixed charges	$	6,347		2,172		9,268		9,492	$	1,444
Ratio of earnings to fixed charges		27.9		39.2		13.4		21.4		8.7