EX-25.3 9 y12864a1exv25w3.txt STATEMENT OF ELIGIBILITY Exhibit 25.3 -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 ------------------------- FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE --------------------------------------------------- CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2) --------------------------------------------------- JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (Exact name of trustee as specified in its charter) 13-4994650 (State of incorporation (I.R.S. employer if not a national bank) identification No.) 1111 POLARIS PARKWAY COLUMBUS, OHIO 43271 (Address of principal executive offices) (Zip Code) Thomas F. Godfrey Vice President and Assistant General Counsel JPMorgan Chase Bank, National Association 1 Chase Manhattan Plaza, 25th Floor New York, NY 10081 Tel: (212) 552-2192 (Name, address and telephone number of agent for service) --------------------------------------------------- PLATINUM UNDERWRITERS HOLDINGS, LTD. (Exact name of obligor as specified in its charter) BERMUDA 98-0416483 (State or other jurisdiction of (I.R.S. employer incorporation or organization) identification No.) THE BELVEDERE BUILDING 69 PITTS BAY ROAD PEMBROKE, HM 08 BERMUDA N/A (Address of principal executive offices) (Zip Code) -------------------------------------------------------------------------------- SUBORDINATED DEBT SECURITIES (Title of the indenture securities) --------------------------------------------------- GENERAL Item 1. General Information. Furnish the following information as to the trustee: (a) Name and address of each examining or supervising authority to which it is subject. Comptroller of the Currency, Washington, D.C. Board of Governors of the Federal Reserve System, Washington, D.C., 20551 Federal Deposit Insurance Corporation, Washington, D.C., 20429. (b) Whether it is authorized to exercise corporate trust powers. Yes. Item 2. Affiliations with the Obligor and Guarantors. If the obligor or any guarantor is an affiliate of the trustee, describe each such affiliation. None. -2- Item 16. List of Exhibits List below all exhibits filed as a part of this Statement of Eligibility. 1. A copy of the Articles of Association of JPMorgan Chase Bank, N.A. (see Exhibit 1 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference). 2. A copy of the Certificate of Authority of the Comptroller of the Currency for the trustee to commence business. (see Exhibit 2 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference). 3. None, the authority of the trustee to exercise corporate trust powers being contained in the documents described in Exhibits 1 and 2. 4. A copy of the existing By-Laws of the Trustee. (see Exhibit 4 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference). 5. Not applicable. 6. The consent of the Trustee required by Section 321(b) of the Act. (see Exhibit 6 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference). 7. A copy of the latest report of condition of the Trustee, published pursuant to law or the requirements of its supervising or examining authority. 8. Not applicable. 9. Not applicable. SIGNATURE Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee, JPMorgan Chase Bank, N.A., has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York, on the 3rd day of November, 2005. JPMORGAN CHASE BANK, N.A. By /s/ James D. Heaney -------------------------------------- James D. Heaney Vice President -3- Exhibit 7 to Form T-1 Bank Call Notice RESERVE DISTRICT NO. 2 CONSOLIDATED REPORT OF CONDITION OF JPMorgan Chase Bank, N.A. of 1111 Polaris Parkway, Columbus, Ohio 43271 and Foreign and Domestic Subsidiaries, a member of the Federal Reserve System, at the close of business June 30, 2005, in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.
DOLLAR AMOUNTS ASSETS IN MILLIONS Cash and balances due from depository institutions: Noninterest-bearing balances and currency and coin $ 33,595 Interest-bearing balances 9,074 Securities: Held to maturity securities 92 Available for sale securities 46,530 Federal funds sold and securities purchased under agreements to resell Federal funds sold in domestic offices 27,359 Securities purchased under agreements to resell 162,222 Loans and lease financing receivables: Loans and leases held for sale 28,317 Loans and leases, net of unearned income $348,961 Less: Allowance for loan and lease losses 4,676 Loans and leases, net of unearned income and allowance 344,285 Trading Assets 231,417 Premises and fixed assets (including capitalized leases) 8,360 Other real estate owned 142 Investments in unconsolidated subsidiaries and associated companies 818 Customers' liability to this bank on acceptances outstanding 549 Intangible assets Goodwill 23,432 Other Intangible assets 9,440 Other assets 47,481 TOTAL ASSETS $973,113 ==========
LIABILITIES Deposits In domestic offices $ 383,950 Noninterest-bearing $ 141,374 Interest-bearing 242,576 In foreign offices, Edge and Agreement subsidiaries and IBF's 145,247 Noninterest-bearing $ 7,348 Interest-bearing 137,899 Federal funds purchased and securities sold under agreements to repurchase: Federal funds purchased in domestic offices 8,743 Securities sold under agreements to repurchase 93,698 Trading liabilities 117,933 Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases) 79,495 Bank's liability on acceptances executed and outstanding 549 Subordinated notes and debentures 17,982 Other liabilities 40,922 TOTAL LIABILITIES 888,519 Minority Interest in consolidated subsidiaries 1,426
EQUITY CAPITAL Perpetual preferred stock and related surplus 0 Common stock 1,785 Surplus (exclude all surplus related to preferred stock) 58,838 Retained earnings 22,718 Accumulated other comprehensive income (173) Other equity capital components 0 TOTAL EQUITY CAPITAL 83,168 --------- TOTAL LIABILITIES, MINORITY INTEREST, AND EQUITY CAPITAL $ 973,113 =========
I, Joseph L. Sclafani, E.V.P. & Controller of the above-named bank, do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief. JOSEPH L. SCLAFANI We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the in- structions issued by the appropriate Federal regulatory AUTHORITY AND IS TRUE AND CORRECT. WILLIAM B. HARRISON, JR. ) JAMES DIMON ) DIRECTORS MICHAEL J. CAVANAGH )