Robert Lusardi Joins Primus Guaranty As Senior Advisor
March 12, 2010
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 is seeking to create a rated, regulated credit-related risk insurer that would focus on selling credit-related protection to market participants in key segments of the insurance and structured credit markets.
In his new position, Mr. Lusardi will work closely with Tom Jasper, the Company’s Chief Executive Officer, Douglas Renfield-Miller, a senior insurance industry executive who is also advising Primus, and the Company’s management team. Mr. Lusardi will remain on the board of directors of Primus Guaranty, which he has served on since March 2002.
Mr. Lusardi was previously a senior executive with White Mountains Insurance Group, Ltd. from 2005 to 2010 and with XL Capital Ltd. from 1998 to 2005. From 1980 until 1998, he was at Lehman Brothers where he served as a managing director and headed the insurance and asset management investment banking practices. Mr. Lusardi is also a director of Symetra Financial Corporation, a life insurance entity, and Chairman of Pentelia Ltd. and Eolia Diamond Ltd., specialized investment funds.