Document:

EX-10.5

 Exhibit 10.5 

EXECUTION VERSION 
 THIRD
SUPPLEMENTAL INDENTURE 
 BY AND AMONG 

PLATINUM UNDERWRITERS FINANCE, INC., 

AS ISSUER, 
 PLATINUM UNDERWRITERS
HOLDINGS, LTD., 
 AS GUARANTOR, 

RENAISSANCERE HOLDINGS LTD., 
 AS
PARENT GUARANTOR, 
 AND 
 THE
BANK OF NEW YORK MELLON TRUST COMPANY (AS SUCCESSOR IN 
 INTEREST TO JPMORGAN CHASE BANK, N.A.), 

AS TRUSTEE 
 DATED AS OF MARCH 3,
2015 
 PLATINUM UNDERWRITERS FINANCE, INC. 

SERIES B 7.50% NOTES DUE JUNE 1, 2017 

 THIRD SUPPLEMENTAL INDENTURE 

This Third Supplemental Indenture, dated as of March 3, 2015 (this “Third Supplemental Indenture”), to the
Indenture, dated as of May 26, 2005 (the “Base Indenture”), by and among Platinum Underwriters Finance, Inc., a corporation duly organized and existing under the laws of the State of Delaware, having its principal office
at 2 World Financial Center, 225 Liberty Street, 23rd Floor, New York, New York 10281 (the “Company”), Platinum Underwriters Holdings, Ltd., a corporation duly organized
and existing under the laws of Bermuda, having its principal office at The Belvedere Building, 69 Pitts Bay Road, Pembroke, HM 08, Bermuda (the “Guarantor”), RenaissanceRe Holdings Ltd., a company duly organized and existing
under the laws of Bermuda, having its principal office at Renaissance House, 12 Crow Lane, Pembroke, HM 19, Bermuda (the “Parent Guarantor”), and The Bank of New York Mellon Trust Company, N.A. (as successor in interest to
JPMorgan Chase Bank, N.A.), a national banking association duly organized and existing under the laws of the United States of America, having its principal corporate trust office at 2 North LaSalle ST, STE 1020, Chicago, Illinois 60602, as Trustee
(the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of May 26, 2005, by and among the Company, the Guarantor and the Trustee and as supplemented by the Second Supplemental Indenture, dated as
of November 2, 2005, by and among the Company, the Guarantor and the Trustee (the “Second Supplemental Indenture”), is effective upon the execution hereof by the parties hereto. 

RECITALS 
 WHEREAS, the Company
and the Guarantor have heretofore executed and delivered to the Trustee the Base Indenture providing for the issuance from time to time of the Company’s notes, debentures or other evidences of its unsecured indebtedness (the
“Securities”), unlimited as to principal amount; 
 WHEREAS, the Company and the Guarantor have heretofore executed
and delivered to the Trustee the Second Supplemental Indenture providing for the issuance of the Company’s Series B 7.50% Notes due June 1, 2017 (the “Notes”); 

WHEREAS, the Base Indenture and the Second Supplemental Indenture are incorporated herein by this reference; 

WHEREAS, the Base Indenture, as supplemented by the Second Supplemental Indenture, is referred to herein as the
“Indenture”; 
 WHEREAS, capitalized terms used herein but not defined herein have the meanings given to such terms
in the Indenture; 
 WHEREAS, pursuant to that certain Agreement and Plan of Merger, dated as of November 23, 2014, by and among the
Parent Guarantor, the Guarantor and Port Holdings Ltd., a wholly owned subsidiary of the Parent Guarantor (“Acquisition Sub”), Acquisition Sub was merged with and into the Guarantor with the Guarantor continuing as the
surviving company (the “Acquisition”); 

  
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 WHEREAS, as a result of the Acquisition, the Company and the Guarantor became wholly owned
subsidiaries of the Parent Guarantor; 
 WHEREAS, Section 10.1 of the Base Indenture authorizes the Company and the Guarantor, without
the consent of any Holders of the Securities, to enter into supplemental indentures in order to, among other things, add any additional Guarantees with respect to all or any series of Securities (as specified in such supplemental indenture) and
otherwise amend or supplement any of the provisions of the Base Indenture or any supplemental indenture provided such amendment or supplement does not adversely affect the interests of the Holders of any Securities then Outstanding; 

WHEREAS, the Parent Guarantor desires to Guarantee all of the outstanding Notes; 

WHEREAS, the Trustee has been provided with the documents relating to this Third Supplemental Indenture that are required to be delivered to
it as contemplated by Section 10.5 of the Base Indenture; and 
 WHEREAS, the execution and delivery of this Third Supplemental
Indenture have been authorized by each of the Company, the Guarantor and the Parent Guarantor and all conditions necessary to authorize the execution and delivery of this Third Supplemental Indenture and to make it a valid and binding obligation of
the Company, the Guarantor and the Parent Guarantor have been done or performed; 
 NOW, THEREFORE, in consideration of the foregoing and
for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Guarantor, the Parent Guarantor and the Trustee mutually covenant and agree as follows: 

ARTICLE I 
 AMENDMENTS 

Section 1.1. Addition of Parent Guarantor. The Parent Guarantor, by its execution of this Third Supplemental Indenture, hereby
agrees to guarantee, on a joint and several basis with the Guarantor, the payment obligations of the Company under the Notes and the Indenture on the terms and conditions set forth in the Indenture and that certain Guarantee, dated as of the date
hereof and delivered to the Trustee. 
 Section 1.2. Definitions. (a) The definition of the term “Guarantor” set
forth in Section 1.1 of the Base Indenture is hereby amended to read in its entirety as follows: 
 ““Guarantor”
means (i) the Parent Guarantor and (ii) the Person named as the “Guarantor” in the first paragraph of this instrument and, in the case of each of clauses (i) and (ii), subject to Article 11, its successors and assigns.”

 (b) Section 1.1 of the Base Indenture is hereby amended by adding an additional defined term as follows: 

““Parent Guarantor” means RenaissanceRe Holdings Ltd., a company duly organized and existing under the laws of Bermuda,
having its principal office at Renaissance House, 12 Crow Lane, Pembroke, HM 19, Bermuda, and, subject to ARTICLE 11, its respective successors and assigns.” 

  
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 ARTICLE II 

MISCELLANEOUS PROVISIONS 

Section 2.1. Ratification and Incorporation of Indenture. As supplemented hereby, the Indenture is in all respects ratified and
confirmed, and the Indenture as supplemented by this Third Supplemental Indenture shall be read, taken and construed as one and the same instrument. 

Section 2.2. Counterparts. This Third Supplemental Indenture may be executed in several counterparts, each of which shall be an
original and all of which shall constitute but one and the same instrument. 
 Section 2.3. Governing Law. This Third
Supplemental Indenture shall be governed by, and construed in accordance with the laws of the State of New York, without regard to conflicts of law principles thereof. 

Section 2.4. Headings. The Article and Section headings herein are for convenience only and shall not affect the construction
hereof. 
 Section 2.5. Trustee. The Trustee makes no representations as to the validity or sufficiency of this Third
Supplemental Indenture. The recitals and statements herein are deemed to be those of the Company, the Guarantor and the Parent Guarantor and not of the Trustee. 

[The remainder of this page is intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Third Supplemental Indenture to be duly
executed, all as of the day and year first above written. 
  

			
	PLATINUM UNDERWRITERS FINANCE, INC., as Issuer
		
	By:		 /s/ Stephen H. Weinstein

	Name:		Stephen H. Weinstein
	Title:		Senior Vice President, General Counsel and Secretary
	
	PLATINUM UNDERWRITERS HOLDINGS, LTD., as Guarantor
		
	By:		 /s/ Mark A. Wilcox

	Name:		Mark A. Wilcox
	Title:		Senior Vice President, Group Controller and Chief Accounting Officer
	
	 RENAISSANCERE HOLDINGS LTD.,
 as
Parent Guarantor

		
	By:		 /s/ Mark A. Wilcox

	Name:		Mark A. Wilcox
	Title:		Senior Vice President, Chief Accounting Officer and Group Controller
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:		 /s/ Lawrence M. Kusch

	Name:		Lawrence M. Kusch
	Title:		Vice President

 [Third Supplemental Indenture]EX-10.6

 Exhibit 10.6 

EXECUTION VERSION 

GUARANTEE 

March 3, 2015 
 For
value received, RenaissanceRe Holdings Ltd., a company duly organized and existing under the laws of Bermuda (herein called the “Parent Guarantor”, which term includes any successor under the Indenture referred to in the
Security upon which this Guarantee is endorsed), on the date hereof hereby absolutely, fully and unconditionally and irrevocably guarantees to the Holder of the Security upon which this Guarantee is endorsed, and to the Trustee on behalf of itself
and such Holder, (a) the due and punctual payment of the principal of, premium, if any, interest, if any, and Additional Amounts, if any, on such Security, and the due and punctual payment of any sinking fund payments provided in such Security
when and as the same shall become due and payable, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, (b) the due and punctual payment of interest on overdue principal of and interest on such
Security, if any, if lawful, and (c) the due and punctual payment of any and all other payments due to the Holder or the Trustee, all in accordance with the terms of such Security and of the Indenture. In case of the failure of the Company,
punctually to make any such payment of principal, premium, if any, interest, if any, or Additional Amounts, if any, the Parent Guarantor hereby agrees to cause any such payment to be made punctually when and as the same shall become due and payable,
whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, and as if such payment were made by the Company. 

The Parent Guarantor hereby agrees that its obligations hereunder are a guaranty of payment and not a guaranty of collection or performance
and shall be unconditional and absolute, irrespective of the validity, regularity or enforceability of such Security or the Indenture or any limitation of the Company thereunder or any limitation on the method or terms of payment thereunder which
may now or hereafter be caused or imposed in any manner whatsoever, the absence of any action to enforce the same, any waiver or consent by the Holder of such Security or by the Trustee with respect to any provisions thereof or of the Indenture, the
obtaining of any judgment against the Company or any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. The Parent Guarantor hereby waives the benefits of
division and discussion, diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest or notice with respect to
such Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee will not be discharged except by complete performance of the obligations contained in such Security and in this Guarantee. 

Without limiting the generality of the foregoing, the Parent Guarantor hereby agrees that the obligations of the Parent Guarantor hereunder
shall not be released, affected or impaired by assignment or transfer in whole or in part of the Security whether or not made without notice to or the consent of the Parent Guarantor and shall not be subject to any reduction, limitation, impairment
or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of, including, but not limited to, setoff, counterclaim, recoupment or termination whatsoever, and
that such obligations shall not 

 
be released, affected or impaired regardless of whether or not any Holder, including the Holder of the Security, or anyone on behalf of any such Holder shall have instituted any suit, action or
proceeding or exhausted its remedies or taken any steps to enforce any rights against the Company or any other person to compel any such performance or observance or to collect all or part of any such amount, either pursuant to the provisions of the
Indenture or the Security or at law or in equity, and regardless of any other condition or contingency, or by reason of the invalidity, illegality or unenforceability of the Security or the Indenture or otherwise and that such obligations shall not
be discharged or impaired or otherwise affected by the failure of the Trustee or any Holder of such Security to assert any claim or demand or to enforce any remedy under the Indenture or such Security, any other guarantee or any other agreement, by
any waiver, amendment, indulgence or modification (whether material or otherwise) of any provision of any thereof, by any default, failure or delay, willful or otherwise, in the performance of any obligations under the Indenture, the Security or
this Guarantee, or by the voluntary or involuntary liquidation, sale or other disposition of all or substantially all of the assets of the Company, the Guarantor or the Parent Guarantor, or any receivership, insolvency, bankruptcy, reorganization,
or other similar proceedings, affecting the Company or any of its assets, or the release of any property from the lien and security interest created by the Indenture or the Security or of any other security for the Security, or the release or
discharge of the Company, the Guarantor or the Parent Guarantor from the performance or observance of any agreement, covenant, term or condition contained in the Indenture or the Security by operation of law, or the merger or consolidation of the
Company, the Guarantor or the Parent Guarantor, or any other cause, whether similar or dissimilar to the foregoing, or by any other act or omission that may or might in any manner or to the extent vary the risk or obligations of the Parent Guarantor
or that would otherwise operate as a discharge or a surety or guarantor as a matter of law or equity (other than the performance of the obligations contained in such Security and in this Guarantee). 

The Holder of the Security upon which this Guarantee is endorsed is entitled to the further benefits relating hereto set forth in the
Indenture. No reference herein to the Indenture and no provision of this Guarantee or of the Indenture shall alter or impair the guarantee of the Parent Guarantor, which is absolute and unconditional, of the due and punctual payment of the principal
of and interest, or any such other payments, on the Security upon which this Guarantee is endorsed. 
 This Guarantee shall be governed by
and construed in accordance with the laws of the State of New York, without giving effect to the conflicts of laws principles thereof. 

All terms used in this Guarantee that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

This Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Security upon which this
Guarantee is endorsed shall have been executed by the Trustee under the Indenture by the manual signature of one of its authorized officers. 

[SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the Parent Guarantor has caused this Guarantee to be duly executed. 

 

					
	RENAISSANCERE HOLDINGS LTD.
		
	By:		 /s/ Gareth S. Bahlmann

			Name:		Gareth S. Bahlmann
			Title:		Assistant Vice President

 [Guarantee]

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