News
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April 29, 2010
PRIMUS SCHEDULES 1st QUARTER 2010 EARNINGS CONFERENCE CALLarter 2010 Earnings Conference Call
Hamilton, Bermuda – April 29, 2010 – Primus Guaranty, Ltd. (NYSE:PRS) announced that it will host a conference call for investors on Thursday, May 13, 2010, at 11 a.m. Eastern Time to discuss its 1st quarter 2010 earnings, which are scheduled for release between 8:30 a.m. and 9:30 a.m. Eastern Time on Thursday, May ...
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March 30, 2010
PRIMUS COMMENTS ON AMBAC, MONOLINE CDS EXPOSURE
Hamilton, Bermuda - March 30, 2010 – Primus Guaranty, Ltd. (the “Company”) (NYSE:PRS) today commented on certain aspects of the credit default swap (“CDS”) portfolio of Primus Financial Products, LLC (“Primus Financial”) related to the credit event announced by International Swaps and Derivatives Association, Inc. Americas Determinations Committee involving Ambac Assurance Corporation that occurred on March 25, 2010.
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March 12, 2010
ROBERT LUSARDI JOINS PRIMUS GUARANTY AS SENIOR ADVISOR
Hamilton, Bermuda - March 12, 2010 – Primus Guaranty, Ltd. (NYSE:PRS) today announced that Robert R. Lusardi, a long-time Primus Guaranty board member, has joined the Company as senior advisor to accelerate the development and launch of a new credit protection business. As previously discussed, Primus ...
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February 12, 2010
Primus Completes Portfolio Repositioning Transaction That Further Reduces Its Bespoke Tranche Exposure
Hamilton, Bermuda – February 12, 2010 – Primus Guaranty, Ltd. (NYSE:PRS) announced that its subsidiary, Primus Financial Products, LLC (“Primus Financial”), has completed a portfolio repositioning transaction with a significant counterparty. In the transaction, Primus Financial terminated $300 million notional ...
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February 03, 2010
Primus Guaranty Reports Fourth Quarter 2009 Financial Results
Primus Guaranty Reports Fourth Quarter and Full Year 2009 Financial Results
- GAAP net income available to common shares for the fourth quarter 2009 was $295.0 million, or $7.21 per diluted share, and $1.5 billion, or $35.26 per diluted share, for the full year 2009
- Economic Results for the fourth quarter 2009 was a loss of $35.5 million, or $0.87 per diluted share, and a loss of $3.7 million, or $0.09 per diluted share, for the full year 2009
- Economic ...
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November 05, 2009
Primus Announces Third Credit Mitigating Transaction
Primus Guaranty, Ltd. (NYSE:PRS) announced that its subsidiary, Primus Financial Products, LLC (“Primus Financial”) has completed its third credit mitigation transaction. Primus Financial assigned a portfolio of credit swaps with its largest single counterparty, comprising notional principal of $2.65 billion of bespoke tranche transactions and approximately $250 million of single name credit swaps, to a newly formed subsidiary which is wholly owned by Primus Financial.
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November 04, 2009
Primus Guaranty Reports Third Quarter 2009 Financial Results
Primus Guaranty, Ltd. (“Primus Guaranty” or “the Company”) (NYSE:PRS) today announced GAAP net income available to common shares of $461.5 million, or $11.14 per diluted share, for the third quarter of 2009, compared with GAAP net loss available to common shares of $(390.2) million, or $(8.63) per diluted share, for the third quarter of 2008.
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October 22, 2009
Primus Guaranty, Ltd. Schedules 3rd Quarter 2009 Earnings Conference Call
Primus Guaranty, Ltd. (NYSE:PRS) announced that it will host a conference call for investors on Wednesday, November 4, 2009, at 11 a.m. Eastern Time to discuss its 3rd quarter 2009 earnings, which are scheduled for release between 7 a.m. and 9 a.m. Eastern Time on Wednesday, November 4, 2009.
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October 05, 2009
Primus and Counterparty Terminate $1.3 Billion of Credit Swaps
Primus Guaranty, Ltd. (NYSE:PRS) today announced that its subsidiary, Primus Financial Products, LLC (“Primus Financial”), has terminated $1.3 billion notional principal of credit swaps with a significant counterparty. These swaps represent the counterparty’s entire portfolio of credit swaps with Primus Financial. Primus Financial paid $6.5 million to the counterparty, a significant discount to the market value of the portfolio, to terminate these swaps. Included ...
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August 05, 2009
Primus Guaranty Reports Second Quarter 2009 Financial Results
Primus Guaranty, Ltd. (“Primus Guaranty” or “the Company”) (NYSE:PRS) today announced GAAP net income available to common shares of $595.8 million, or $14.44 per diluted share, for the second quarter of 2009, compared with GAAP net income available to common shares of $262.6 million, or $5.78 per diluted share, for the second quarter of 2008.