UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
(Rule 13d-1)
Under the Securities Exchange Act of 1934
(Amendment No. 1)
NYMAGIC, INC.
-------------
(Name of Issuer)
Common Stock, $1.00 Par Value
-----------------------------
(Title of Class of Securities)
629484 10 6
-----------
(CUSIP Number)
Howard S. Tuthill
c/o Cummings & Lockwood
Four Stamford Plaza, P.O. Box 120
Stamford, Connecticut 06904
(203) 327-1700
--------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 16, 1998
-------------
(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 6 Pages
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 629484 10 6 Page 2 of 6 Pages
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Louise B. Tollefson Florida Intangible Tax Trust u/a 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
0
NUMBER OF
SHARES -------- ---------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
REPORTING -------- ---------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
-------- ---------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ------------ -------------------------------------------------------------------
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)
0%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
- ------------ -------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 629484 10 6 Page 3 of 6 Pages
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Howard S. Tuthill
- ------------ -------------------------------------------------------------------
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
United States
- ------------------------- -------- ---------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES -------- ---------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
REPORTING -------- ---------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
-------- ---------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ------------ -------------------------------------------------------------------
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)
0%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- ------------ -------------------------------------------------------------------
<PAGE>
Page 4 of 6 Pages
INTRODUCTION
This Amendment No. 1 to Schedule 13D 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. The sole Trustee of the FIT Trust is Howard S. Tuthill
("Tuthill").
ITEM 1. SECURITY AND ISSUER.
There has been no change to this Item.
ITEM 2. IDENTITY AND BACKGROUND.
There has been no change to this Item.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The transactions which require the filing of this Amendment 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.
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 FIT Trust nor Tuthill has any plans or proposals which
would result in any of the consequences listed in paragraphs (a) - (j) of Item 4
of Schedule 13D.
<PAGE>
Page 5 of 6 Pages
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 Reporting
Person named in Item 2 as of the date hereof:
<TABLE>
<CAPTION>
Number of Shares Number of Shares
Beneficially Owned With Beneficially Owned With Aggregate Number
Sole Voting and Shared Voting and of Shares Percentage of Shares
Name Dispositive Power Dispositive Power Beneficially Owned Beneficially Owned
- ---- ----------------------- ----------------------- ------------------ --------------------
Louise B. Tollefson
Florida Intangible
Tax Trust u/a
<S> <C> <C> <C> <C>
12/23/97 0 0 0 0%
Howard S. Tuthill 0 0 0 0%
</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 or received for these transfers.
(d) None.
(e) Not Applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Pursuant to the terms of the Trust Agreement, dated December 23, 1997,
executed in connection with the establishment of the FIT Trust (the "Trust
Agreement"), Tuthill was obligated to distribute the assets held by the FIT
Trust to the acting Trustee of the Revocable Trust.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
There has been no change to this Item.
<PAGE>
Page 6 of 6 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: July 16, 1998
/s/ Howard S. Tuthill
--------------------------------
Howard S. Tuthill
LOUISE B. TOLLEFSON FLORIDA
INTANGIBLE TAX TRUST U/A 12/23/97
By: /s/ Howard S. Tuthill
----------------------------
Howard S. Tuthill
Trustee
