Primus hires for new venture

Primus has announced that Robert Lusardi has joined the firm as a senior advisor to launch a new credit protection business. Lusardi, previously of White Mountains Insurance and a long-time Primus board member, will work with Primus chief executive Tom Jasper and with another advisor Douglas Renfield Miller on the new venture. Primus gives no further details of the planned entity except to say that it will sell credit-related protection to market participants in key segments of the insurance and structured credit markets.