UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
NYMAGIC, INC.
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(Name of Issuer)
Common Stock, $1.00 Par Value
-----------------------------
(Title of Class of Securities)
629484 10 6
-----------
(CUSIP Number)
Robert G. Simses
Cummings & Lockwood
140 Royal Palm Way, Suite 205
Palm Beach, FL 33480
(561) 659-1250
--------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 16, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this Schedule because of Rule 13d-1(b)(3) or (4), check the following
box. [ ]
Page 1 of 7 pages
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 629484 10 6 Page 2 of 7 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Louise B. Tollefson Revocable Trust dated 12/23/97
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [_]
(b) [_]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) [_]
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- ------------------------- -------- ---------------------------------------------
7 SOLE VOTING POWER
1,814,611
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,814,611
PERSON
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,814,611
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) [_]
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
- ------------ -------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 629484 10 6 Page 3 of 7 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Louise B. Tollefson
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [_]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [_]
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------- -------- ---------------------------------------------
7 SOLE VOTING POWER
1,818,117
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,818,117
PERSON
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,818,117
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) [_]
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- ------------ -------------------------------------------------------------------
<PAGE>
Page 4 of 7 Pages
INTRODUCTION
This Schedule is being filed in order to report the transfer of an
aggregate of 1,814,611 shares of common stock, $1.00 par value (the "Common
Stock"), of NYMAGIC, Inc., a New York corporation (the "Issuer"), from the
Louise B. Tollefson Florida Intangible Tax Trust u/a 12/23/97 (the "FIT Trust")
to the Louise B. Tollefson Revocable Trust dated 12/23/97 (the "Revocable
Trust"). Louise B. Tollefson ("Tollefson") is a beneficiary of the FIT Trust and
is both the sole Trustee and a beneficiary of the Revocable Trust.
ITEM 1. SECURITY AND ISSUER.
The class of equity securities to which this Schedule relates is the
Issuer's Common Stock, $1.00 par value. The Issuer is NYMAGIC, Inc., a New York
corporation, and its principal executive offices are located at 330 Madison
Avenue, New York, New York 10017.
ITEM 2. IDENTITY AND BACKGROUND
This Schedule is being filed by the Revocable Trust and by Tollefson in
her capacity as a direct owner of shares of Common Stock and as both the sole
Trustee and a beneficiary of the Revocable Trust. The principal business address
for the Revocable Trust is c/o Cummings & Lockwood, 140 Royal Palm Way, Suite
205, Palm Beach, Florida 33480. Tollefson is retired and her residence is
located at 18665 S.E. Village Circle, Tequesta, Florida 33469.
During the last five years, neither the Revocable Trust nor Tollefson
has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) nor been the subject of a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The transactions which require the filing of this Schedule were
transfers which were effected without consideration. On June 16, 1998 and June
19, 1998, the FIT Trust effected transfers of an aggregate of 1,814,611 shares
of Common Stock to the Revocable Trust.
<PAGE>
Page 5 of 7 Pages
ITEM 4. PURPOSE OF TRANSACTION
The purpose of the transfers of 1,814,611 shares of Common Stock from
the FIT Trust to the Revocable Trust was to implement certain aspects of
Tollefson's estate and tax planning.
Neither the Revocable Trust nor Tollefson currently has any plan or
proposal which would result in any of the consequences listed in paragraphs (a)
- - (j) of Item 4 of Schedule 13D. If any such plan or proposal were decided upon
by the Revocable Trust or Tollefson, an appropriate amendment to this Schedule
13D would be prepared and filed promptly.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) Set forth in the table below are the number and
percentage of shares of Common Stock of the Issuer beneficially owned by each of
the Revocable Trust and Tollefson as of the date hereof:
<TABLE>
<CAPTION>
Number of Shares Number of Shares
Beneficially Owned Beneficially Owned Aggregate Number Percentage of
With Sole Voting and With Shared Voting and of Shares Shares
Name Dispositive Power Dispositive Power Beneficially Owned Beneficially Owned
- ----------------------------------------------------------------------------------------------------------------------
Louise B. Tollefson
Revocable Trust dated
12/23/97 1,814,611 0 1,814,611 18.8%
<S> <C> <C> <C> <C>
Louise B. Tollefson 1,818,117 0 1,818,117 18.8%
</TABLE>
(c) On June 16, 1998, 1,788,806 shares of Common Stock were
transferred from the FIT Trust to the Revocable Trust. On June 19, 1998, 25,805
shares of Common Stock were transferred from the FIT Trust to the Revocable
Trust. No consideration was given for these transfers.
(d) None.
(e) Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit
Number Description
- ------ -----------
1 Agreement, dated as of June 30, 1998, between the Revocable
Trust and Tollefson relating to the filing of a joint Schedule
13D.
<PAGE>
Page 6 of 7 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: June 30, 1998
LOUISE B. TOLLEFSON REVOCABLE TRUST
DATED 12/23/97
By: /s/ Louise B. Tollefson
---------------------------------
Louise B. Tollefson
Trustee
/s/ Louise B. Tollefson
---------------------------------
Louise B. Tollefson
<PAGE>
Page 7 of 7 Pages
EXHIBIT INDEX
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Exhibit
Number Description
- ------ -----------
1 Agreement, dated as of June 30, 1998, between the Revocable
Trust and Tollefson relating to the filing of a joint Schedule
13D.
EXHIBIT 1
AGREEMENT
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This Agreement is made as of the 30th day of June, 1998 between the
Louise B. Tollefson Revocable Trust dated 12/23/1997 (the "Trust") and Louise B.
Tollefson ("Tollefson").
The Parties hereto hereby agree that a single, joint statement
containing the information required by Schedule 13D under the Securities
Exchange Act of 1934 with respect to the beneficial ownership of shares of
Common Stock of NYMAGIC, Inc., a New York corporation, may be filed with the
Securities and Exchange Commission on behalf of each of the Trust and Tollefson.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first written above.
LOUISE B. TOLLEFSON REVOCABLE TRUST
DATED 12/23/97
By: /s/ Louise B. Tollefson
---------------------------------
Louise B. Tollefson
Trustee
/s/ Louise B. Tollefson
---------------------------------
Louise B. Tollefson
