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
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(CUSIP Number)
Robert G. Simses
Cummings & Lockwood
140 Royal Palm Way, Suite 205
Palm Beach, FL 33480
(561) 659-1250
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
May 18, 2000
------------
(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 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
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)
11.7%
- ------------ -------------------------------------------------------------------
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)
Louise B. Tollefson
- ------------ -------------------------------------------------------------------
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 1,085,231
-------- ---------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,085,231
-------- ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,085,231
- ------------ -------------------------------------------------------------------
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)
11.8%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- ------------ -------------------------------------------------------------------
<PAGE>
Page 4 of 6
Introduction
This Schedule 13D is being filed in order to report the transfer of
1,080,667 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 the Louise B.
Tollefson Revocable Trust dated 12/23/97 (the "Revocable Trust"). 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. L. Tollefson ("Tollefson") is a beneficiary and sole trustee of the
Revocable Trust. The transfers described above were effected on May 18, 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 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 "Reporting Persons"). 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 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
which was effected without consideration. On May 18, 2000, 1,080,667 shares of
Common Stock were transferred from the FIT Trust to the Revocable Trust.
Item 4. Purpose of Transaction
The purpose of the transfer of 1,080,667 shares of Common Stock from the
FIT Trust to the Revocable Trust was to implement certain aspects of Tollefson's
estate and tax planning objectives.
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.
<PAGE>
Page 5 of 6
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
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
Revocable Trust dated
12/23/97 1,080,667 0 1,080,667 11.7%
Louise B. Tollefson 1,085,231 0 1,085,231 11.8%
</TABLE>
(c) The Reporting Persons received beneficial ownership of an aggregate of
1,080,667 shares of Common Stock on May 18, 2000, in a transfer 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
None.
Item 7. Material to Be Filed as Exhibits
Exhibit
Number Description
- ------- -----------
1 Agreement, dated as of May 18, 2000, between the Reporting Persons
relating to the filing of a joint Schedule 13D.
<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: May 26, 2000
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
EXHIBIT 1
AGREEMENT
This Agreement is made as of the 18th day of May, 2000, 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 (and any
amendments thereto) 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 set forth above.
LOUISE B. TOLLEFSON REVOCABLE
TRUST DATED 12/23/1997
By:/s/ LOUISE B. TOLLEFSON
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Louise B. Tollefson
Trustee
/s/ LOUISE B. TOLLEFSON
-----------------------
Louise B. Tollefson
