Certification
		Pursuant to Section 302

EXHIBIT
		31.1

I, Thomas W. Jasper,
		Chief Executive Officer of Primus Guaranty, Ltd. certify that:

1.
				    I have reviewed this Annual Report on Form 10-K of Primus Guaranty,
				  Ltd.;


2.   Based
		on my knowledge, this report does not contain any untrue statement of a
		material fact or omit to state a material fact necessary to make the statements
		made, in light of the circumstances under which such statements were made, not
		misleading with respect to the period covered by this report;

3.   Based
		on my knowledge, the financial statements, 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.   The
		registrants other certifying officer and I are responsible for
		establishing and maintaining disclosure controls and procedures (as defined in
		Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
		reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
		registrant and have:

a)    Designed
		such disclosure controls and procedures, or caused such disclosure controls and
		procedures to be designed under our supervision, to ensure that material
		information relating to the registrant, including its consolidated
		subsidiaries, is made known to us by others within those entities, particularly
		during the period in which this report is being prepared;

b)    Designed
		such internal control over financial reporting, or caused such internal control
		over financial reporting to be designed under our supervision, to provide
		reasonable assurance regarding the reliability of financial reporting and in
		the preparation of financial statements for external purposes in accordance
		with generally accepted accounting principles;

c)    Evaluated
		the effectiveness of the registrants disclosure controls and procedures,
		and presented in this report our conclusions about the effectiveness of the
		disclosure controls and procedures, as of the end of the period covered by this
		report based on such evaluation; and

d)    Disclosed
		in this report any change in the registrants internal control over
		financial reporting that occurred during the registrants most recent
		fiscal quarter (the registrants fourth fiscal quarter in the case of an
		annual report) that has 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 and I have disclosed, based on our
		most recent evaluation of internal control over financial reporting, to the
		registrants auditors and the audit committee of the registrants
		board of directors (or persons performing the equivalent functions):

a)    All
		significant deficiencies and material weaknesses in the design or operation of
		internal control over financial reporting which are reasonably likely to
		adversely affect the registrants ability to record, process, summarize,
		and report financial information; and

b)    Any
		fraud, whether or not material, that involves management or other employees who
		have a significant role in the registrants internal control over
		financial reporting.

Date: March 14,
		2007



By:
			 /s/
				  Thomas W. JasperName: Thomas
				  W. Jasper
				Title: Chief
				  Executive Officer






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