TERMINATION ADDENDUM EXCESS OF LOSS RETROCESSION AGREEMENT BY AND BETWEEN PLATINUM RE (UK) LIMITED (RETROCEDANT) and PLATINUM UNDERWRITERS REINSURANCE, INC. (RETROCESSIONAIRE)

EXHIBIT 10.4

TERMINATION ADDENDUM
EXCESS OF LOSS RETROCESSION AGREEMENT
BY AND BETWEEN
PLATINUM RE (UK) LIMITED
(RETROCEDANT)

and

PLATINUM UNDERWRITERS REINSURANCE, INC.
(RETROCESSIONAIRE)

IT IS HEREBY MUTUALLY AGREED that effective March 31, 2006, the Excess of Loss Retrocession Agreement dated as of January 1, 2006, by and between Platinum Underwriters Reinsurance, Inc., a Maryland domiciled insurance company (the “Retrocessionaire”), and Platinum Re (UK) Limited (the “Retrocedant”), is terminated pursuant to this Termination Addendum ( the “Addendum”).

The Retrocessionaire shall return all premium paid to date, less $250,000, as consideration for the early termination of its exposure.

IN WITNESS WHEREOF, the parties have caused this Addendum to be executed in duplicate by their respective officers duly authorized so to do, on the date set forth below.

		Platinum Re (UK) Limited
		By:		/s/ Xxxxxxx Xxxxxxx
				Name: Xxxxxxx Xxxxxxx
				Title: CEO & Managing Director
				Date: June 15, 2006
		Platinum Underwriters Reinsurance, Inc.
		By:		/s/ H. Xxxxxxxxx Xxxxxxxx
				Name: H. Xxxxxxxxx Xxxxxxxx
				Title: President
				Date: June 13, 2006