Rule13a-14(a)/15d-14(a) Certification

EXHIBIT 31.2

I, Richard Claiden, Chief Financial Officer of Primus Guaranty, Ltd.certify that:

1.    I have reviewed this Quarterly Report onForm 10-Q of Primus Guaranty, Ltd.;

2.    Based on myknowledge, this report does not contain any untrue statement of amaterial fact or omit to state a material fact necessary to make thestatements made, in light of the circumstances under which suchstatements were made, not misleading with respect to the period coveredby this report;

3.    Based on my knowledge, the financialstatements, and other financial information included in this report,fairly present in all material respects the financial condition,results of operations and cash flows of the registrant as of, and for,the periods presented in this report;

4.    Theregistrant's other certifying officer and I are responsible forestablishing and maintaining disclosure controls and procedures (asdefined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for theregistrant and have:

a)    Designed such disclosurecontrols and procedures, or caused such disclosure controls andprocedures to be designed under our supervision, to ensure thatmaterial information relating to the registrant, including itsconsolidated subsidiaries, is made known to us by others within thoseentities, particularly during the period in which this report is beingprepared;

b)    (Paragraph omitted pursuant to SECRelease Nos. 33-8238 and 34-47986).

c)    Evaluatedthe effectiveness of the registrant's disclosure controls andprocedures, and presented in this report our conclusions about theeffectiveness of the disclosure controls and procedures, as of the endof the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in theregistrant's internal control over financial reporting thatoccurred during the registrant's most recent fiscal quarter thathas materially affected, or is reasonably likely to materially affect,the registrant's internal control over financial reporting;and

5.    The registrant's other certifying officer andI have disclosed, based on our most recent evaluation of internalcontrol over financial reporting, to the registrant's auditorsand the audit committee of the registrant's board of directors(or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknessesin the design or operation of internal control over financial reportingwhich are reasonably likely to adversely affect the registrant'sability to record, process, summarize, and report financialinformation; and

b)    Any fraud, whether or notmaterial, that involves management or other employees who have asignificant role in the registrant's internal control overfinancial reporting.

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|------------------|--|--------|--|----------------------------------------------------|--|--|--|--|--|--|
| Date:May 12,2005 |  | By:    |  | /s/Richard Claiden                                 |
|             |  |   |  | Name: RichardClaiden Title: Chief FinancialOfficer |
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