**Certification		Pursuant to Section 302**

**EXHIBIT		31.2**

I, Richard Claiden,		Chief Financial 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