(Adds details, analyst comments)

By Supantha Mukherjee

BANGALORE, April 21 (Reuters) - Platinum Underwriters Holdings Ltd (PTP.N: Quote, Profile, Research), a Bermuda-based property and casualty reinsurer, posted a 44 percent jump in quarterly profit, beating Wall Street estimates, helped by lower-than-expected catastrophe activity and reduced expenses.

The company was better on the growth side with better-than-expected premium, driven by a large contract and better underwriting profitability, Keefe, Bruyette & Woods analyst Dean Evans said.

The Bermuda reinsurers are probably all on track to post a favorable quarter as there were no large catastrophe activity in the quarter, Evans added.

He, however, warned that there was some concern as reinsurers were heading into catastrophe season and added that "if the wind blows the potential is there to take a large loss."

In the North Atlantic, hurricane season starts from June and lasts till November, but most hurricanes happen during the fall.

For the latest first quarter, the company earned $105.2 million, or $1.76 a share, compared with $72.8 million, or $1.08 a share, a year ago.

Analysts on average expected the company to earn $1.21 a share, before special items, according to Reuters Estimates.