Item 2.02. Results of Operations and Financial Condition.
(a) On November 4, 2009, Primus Guaranty, Ltd. (the "Registrant") issued a press release announcing operating results for the quarter ended September 30, 2009. A copy of the press release is furnished as Exhibit 99.1 to this Current Report. This exhibit shall not be deemed to be "filed" for purposes of Section 18 of the U.S. Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference in any filing by the Registrant under the U.S. Securities Act of 1933, as amended. Statements in the press release referred to above that are not historical facts are forward-looking and based on management's projections, assumptions and estimates; actual results may vary materially. Forward-looking statements are subject to certain risks and uncertainties, which may change over time and which include but are not limited to: fluctuations in the economic, credit, interest rate or foreign currency environment in the United States and abroad; the level of activity within the national and international credit and capital markets; the level of activity in the leveraged buyout and private equity markets; competitive conditions and pricing levels; changes in ratings agency requirements or methodology; counterparty limits and risks; legislative and regulatory developments; technological developments; changes in tax laws; changes in national or international political or economic conditions, including any terrorist attacks; successful implementation of the Registrant's 2009 Business Outlook and Strategy and the Registrant's ability to effectively integrate and manage the CypressTree Investment Management, LLP acquisition, and uncertainties that have not been identified at this time. Further factors concerning financial risks and results are contained in the Registrant's Annual Report on Form 10-K and other reports filed with the U.S. Securities and Exchange Commission. Such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and identify important risk factors that could cause the Registrant's actual results to differ materially from those expressed in any projected, estimated or forward-looking statements relating to the Registrant. Consequently, all of the forward-looking statements made in the press release referred to above are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by the Registrant will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Registrant or its business or operations. The Registrant assumes no obligation to, and does not undertake to, update publicly any such forward-looking statements.

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Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.

Exhibit No. Description

99.1 Press Release dated November 4, 2009 issued by the Registrant.

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Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PRIMUS GUARANTY, LTD.

By: /S/ Richard Claiden
Richard Claiden
Chief Financial and Operating Officer

(Duly Authorized Officer)

Date: November 4, 2009

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