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<TITLE> Platinum Underwriters Holdings, Ltd. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	&nbsp;
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	October 21, 2014
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	Platinum Underwriters Holdings, Ltd.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Bermuda
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	001-31341
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	98-0416483
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	Waterloo House, 100 Pitts Bay Road, Pembroke, Bermuda
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	&nbsp;
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	HM 08
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
	(Zip Code)
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	Registrant&#146;s telephone number, including area code:
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	(441) 295-7195
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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<P><FONT SIZE="2">
[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt"><B>Item&nbsp;5.02</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt">Departure of Directors or Certain Officers; Election of Directors; Appointment of
<B>Certain Officers; Compensatory Arrangements of Certain Officers.</B></FONT></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt">At its meeting on October&nbsp;21, 2014, the Board of Directors of Platinum Underwriters Holdings, Ltd.
(the &#147;Company&#148;), upon the recommendation of the Compensation Committee of the Board of Directors
(the &#147;Compensation Committee&#148;), approved an amendment to the Platinum Underwriters Holdings, Ltd.
Amended and Restated Change in Control Severance Plan (&#147;CIC Plan&#148;) to (i)&nbsp;eliminate the tax
gross-up payment that would have been payable to a participant in the CIC Plan if such
participant&#146;s benefits under the CIC Plan and any other benefits contingent upon a change in
control of the Company (collectively, a participant&#146;s &#147;Change in Control Benefits&#148;) exceeded a
safe-harbor amount (the participant&#146;s &#147;Safe Harbor Cap&#148;) determined under the &#147;golden parachute&#148;
rules contained in Section&nbsp;280G of the Internal Revenue Code (the &#147;Code&#148;) and subjected the
participant to the excise tax on certain &#147;excess parachute payments&#148; under Section&nbsp;4999 of the
Code, and (ii)&nbsp;provide that the aggregate Change in Control Benefits payable to a participant will
be reduced to the participant&#146;s Safe Harbor Cap (unless the amount of the participant&#146;s Change in
Control Benefits, less any excise tax payable by the participant, is greater than the Safe Harbor
Cap, in which case the participant&#146;s Change in Control Benefits will not be reduced).


<P align="left" style="font-size: 12pt">On October&nbsp;21, 2014, the Board of Directors of the Company, upon the recommendation of the
Compensation Committee, also approved an amendment to the Platinum Underwriters Holdings, Ltd. 2010
Share Incentive Plan (&#147;Share Incentive Plan&#148;) to prohibit the Company from cancelling or exchanging
any outstanding award under the Share Incentive Plan for payment of cash or other consideration
unless the fair market value of a Company common share on the date of determination by the
Compensation Committee to make such cancellation or exchange is greater than the per share
exercise, base or purchase price of such award.


<P align="left" style="font-size: 12pt">The foregoing descriptions of the amendments to the CIC Plan and the Share Incentive Plan do not
purport to be complete and are qualified in their entirety by reference to the full text of the
amended and restated CIC Plan and the amended and restated Share Incentive Plan, copies of which
are filed herewith as Exhibit&nbsp;10.1 and Exhibit&nbsp;10.2, respectively, and incorporated herein by
reference.


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    <TD width="1%" nowrap align="right"><B>Item&nbsp;5.05</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Amendments to the Registrant&#146;s Code of Ethics, or Waiver of a Provision of the Code of
Ethics.</B></TD>
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</TABLE>


<P align="left" style="font-size: 12pt">At its meeting on October&nbsp;21, 2014, the Board of Directors of the Company approved an amended Code
of Business Conduct and Ethics (the &#147;Code&#148;), which applies to all officers, directors, employees,
interns and consultants of the Company and its subsidiaries. The amendments to the Code clarify,
update, reorganize or otherwise enhance the descriptions of the standards of conduct.


<P align="left" style="font-size: 12pt">The foregoing description of the amended Code does not purport to be complete and is qualified in
its entirety by reference to the full text of the amended Code, a copy of which is filed herewith
as Exhibit&nbsp;14.1 and is incorporated herein by reference.


<P align="left" style="font-size: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>

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    <TD align="left" valign="top">(d)
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    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibits</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD align="left" valign="top">Exhibit&nbsp;10.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Platinum Underwriters Holdings, Ltd. Amended and Restated Change in<BR>
Control Severance Plan</DIV></TD>
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<TR valign="bottom" style="font-size: 12pt">
    <TD align="left" valign="top">Exhibit&nbsp;10.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Platinum Underwriters Holdings, Ltd. Amended and Restated 2010 Share<BR>
Incentive Plan</DIV></TD>
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<TR valign="bottom" style="font-size: 12pt">
    <TD align="left" valign="top">Exhibit&nbsp;14.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Platinum Underwriters Holdings, Ltd. Code of Business Conduct and Ethics</DIV></TD>
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	Platinum Underwriters Holdings, Ltd.
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<I>
	October 21, 2014
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	&nbsp;
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<I>
	By:
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	&nbsp;
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<I>
	/s/ Michael E. Lombardozzi
</I>
<BR>
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	&nbsp;
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<I>
	Name: Michael E. Lombardozzi
</I>
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	&nbsp;
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<I>
	Title: Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	10.1
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<FONT SIZE="2">
	&nbsp;
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</TD>
<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
Platinum Underwriters Holdings, Ltd. Amended and Restated Change in Control Severance Plan
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</TD>
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<TD VALIGN="TOP" WIDTH="8%" nowrap>
<FONT SIZE="2">
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	10.2
</DIV>
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<FONT SIZE="2">
	&nbsp;
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</TD>
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<FONT SIZE="2">
Platinum Underwriters Holdings, Ltd. Amended and Restated 2010 Share Incentive Plan
</FONT>
</TD>
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	14.1
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<FONT SIZE="2">
	&nbsp;
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<FONT SIZE="2">
Platinum Underwriters Holdings, Ltd. Code of Business Conduct and Ethics
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Platinum Underwriters Holdings, Ltd. (Form: 8-K)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
October 21, 2014
Platinum Underwriters Holdings, Ltd.
__________________________________________
(Exact name of registrant as specified in its charter)
Bermuda
001-31341
98-0416483
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
Waterloo House, 100 Pitts Bay Road, Pembroke, Bermuda
HM 08
_________________________________
(Address of principal executive offices)
___________
(Zip Code)
Registrant's telephone number, including area code:
(441) 295-7195
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Top of the Form
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.
At its meeting on October 21, 2014, the Board of Directors of Platinum Underwriters Holdings, Ltd.
(the "Company"), upon the recommendation of the Compensation Committee of the Board of Directors
(the "Compensation Committee"), approved an amendment to the Platinum Underwriters Holdings, Ltd.
Amended and Restated Change in Control Severance Plan ("CIC Plan") to (i) eliminate the tax
gross-up payment that would have been payable to a participant in the CIC Plan if such
participant's benefits under the CIC Plan and any other benefits contingent upon a change in
control of the Company (collectively, a participant's "Change in Control Benefits") exceeded a
safe-harbor amount (the participant's "Safe Harbor Cap") determined under the "golden parachute"
rules contained in Section 280G of the Internal Revenue Code (the "Code") and subjected the
participant to the excise tax on certain "excess parachute payments" under Section 4999 of the
Code, and (ii) provide that the aggregate Change in Control Benefits payable to a participant will
be reduced to the participant's Safe Harbor Cap (unless the amount of the participant's Change in
Control Benefits, less any excise tax payable by the participant, is greater than the Safe Harbor
Cap, in which case the participant's Change in Control Benefits will not be reduced).
On October 21, 2014, the Board of Directors of the Company, upon the recommendation of the
Compensation Committee, also approved an amendment to the Platinum Underwriters Holdings, Ltd. 2010
Share Incentive Plan ("Share Incentive Plan") to prohibit the Company from cancelling or exchanging
any outstanding award under the Share Incentive Plan for payment of cash or other consideration
unless the fair market value of a Company common share on the date of determination by the
Compensation Committee to make such cancellation or exchange is greater than the per share
exercise, base or purchase price of such award.
The foregoing descriptions of the amendments to the CIC Plan and the Share Incentive Plan do not
purport to be complete and are qualified in their entirety by reference to the full text of the
amended and restated CIC Plan and the amended and restated Share Incentive Plan, copies of which
are filed herewith as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by
reference.
Item 5.05
Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of
Ethics.
At its meeting on October 21, 2014, the Board of Directors of the Company approved an amended Code
of Business Conduct and Ethics (the "Code"), which applies to all officers, directors, employees,
interns and consultants of the Company and its subsidiaries. The amendments to the Code clarify,
update, reorganize or otherwise enhance the descriptions of the standards of conduct.
The foregoing description of the amended Code does not purport to be complete and is qualified in
its entirety by reference to the full text of the amended Code, a copy of which is filed herewith
as Exhibit 14.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits
Exhibit 10.1
Platinum Underwriters Holdings, Ltd. Amended and Restated Change in
Control Severance Plan
Exhibit 10.2
Platinum Underwriters Holdings, Ltd. Amended and Restated 2010 Share
Incentive Plan
Exhibit 14.1
Platinum Underwriters Holdings, Ltd. Code of Business Conduct and Ethics
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
Platinum Underwriters Holdings, Ltd.
October 21, 2014
By:
/s/ Michael E. Lombardozzi
Name: Michael E. Lombardozzi
Title: Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
Top of the Form
Exhibit Index
Exhibit No.
Description
10.1
Platinum Underwriters Holdings, Ltd. Amended and Restated Change in Control Severance Plan
10.2
Platinum Underwriters Holdings, Ltd. Amended and Restated 2010 Share Incentive Plan
14.1
Platinum Underwriters Holdings, Ltd. Code of Business Conduct and Ethics