UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
NYMAGIC, Inc.
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(Name of Issuer)
Common Stock, $1.00 Par Value
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(Title of Class of Securities)
629484 10 6
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(CUSIP Number)
Howard S. Tuthill III
Cummings & Lockwood
Four Stamford Plaza, P.O. Box 120
Stamford, Connecticut 06904
(203) 327-1700
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 31, 2000
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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 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 dated 12/9/98
- ------------ ------------------------------------------------------------------
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
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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
NUMBER OF 1,080,667
-------- --------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- --------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,080,667
-------- --------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,080,667
- ------------ ------------------------------------------------------------------
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)
11.5%
- ------------ ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
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<PAGE>
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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, III
- ------------ ------------------------------------------------------------------
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
NUMBER OF 1,080,667
-------- --------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- --------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,080,667
-------- --------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,080,667
- ------------ ------------------------------------------------------------------
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)
11.5%
- ------------ ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
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<PAGE>
Page 4 of 6
Introduction
This Amendment No. 1 to Schedule 13D is being filed in order to report the
transfer of 366,972 shares of common stock, $1.00 par value ("Common Stock"), of
NYMAGIC, Inc., a New York corporation (the "Issuer"), from the Louise B.
Tollefson Florida Intangible Tax Trust dated 12/9/98 (the "FIT Trust") to Louise
B. Tollefson ("L. Tollefson") and 366,972 shares of Common Stock from the FIT
Trust to Bennett H. Tollefson ("B. Tollefson"). L. Tollefson is a beneficiary of
the FIT Trust, and the co-trustees of the FIT Trust are Howard S. Tuthill and
Howard S. Tuthill, III ("Tuthill"), with Tuthill having sole voting and
dispositive power over the shares of Common Stock held by the FIT Trust. The
transfers described above were effected on March 31, 2000.
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 FIT Trust and by Tuthill in his
capacity as a Trustee of the Trust. The principal business address of both the
FIT Trust and Tuthill (collectively, the "Reporting Persons") is c/o Cummings &
Lockwood, Four Stamford Plaza, P.O. Box 120, Stamford, Connecticut 06904.
Tuthill is a partner at Cummings & Lockwood, a law firm headquartered in
Stamford, Connecticut.
During the last five years, neither Reporting Person has been convicted in
a criminal proceeding or 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 transaction that requires the filing of this Schedule was a transfer
that was effected without consideration. On March 31, 2000, 366,972 shares of
Common Stock were transferred from the FIT Trust to each of L. Tollefson and B.
Tollefson.
Item 4. Purpose of Transaction.
The purpose of the transfer of 366,972 shares of Common Stock from the FIT
Trust to each of L. Tollefson and B. Tollefson was to implement certain aspects
of L. Tollefson's and B. Tollefson's estate and tax planning objectives.
<PAGE>
Page 5 of 6
The Reporting Persons have no plans or proposals that would result in any
of the consequences listed in paragraphs (a) - (j) of Item 4 of Schedule 13D.
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 Beneficially Owned Aggregate Number Percentage of
With Sole Voting and With Shared Voting and of Shares Shares Beneficially
Name Dispositive Power Dispositive Power Beneficially Owned Owned
---- ----------------- ----------------- ------------------ -------------------
<S> <C> <C> <C> <C>
Louise B. Tollefson
Florida Intangible Tax
Trust dated 12/9/98 1,080,667 0 1,080,667 11.5%
Howard S. Tuthill, III 1,080,667 0 1,080,667 11.5%
</TABLE>
(c) The Reporting Persons transferred beneficial ownership of an aggregate
of 733,944 shares of Common Stock on March 31, 2000, in two transfers from the
FIT Trust. The Reporting Persons were given no consideration for such shares.
(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 9, 1998,
executed in connection with the establishment of the FIT Trust, Tuthill shall,
upon April 30th of each calendar year, distribute the then-remaining trust
estate to the then-acting Trustee of the Louise B. Tollefson Revocable Trust
dated 12/23/97.
Item 7. Material to Be Filed as Exhibits.
Exhibit
Number Description
1 Agreement, dated as of April 6, 2000, between the Reporting
Persons relating to the filing of a joint Schedule 13D
(incorporated by reference to the Schedule 13D of the Reporting
Persons dated April 10, 2000).
<PAGE>
Page 6 of 6
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: April 7, 2000
/s/ HOWARD S. TUTHILL III
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Howard S. Tuthill III
LOUISE B. TOLLEFSON FLORIDA INTANGIBLE TAX
TRUST DATED 12/9/98
By /s/ HOWARD S. TUTHILL III
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Howard S. Tuthill III
Trustee
