NYMAGIC® amalgamates press releases from PR Newswire, articles from popular news sources, and corporate disclosures.
Shareholders to receive $25.75 per share in cash.
Transaction Valued at Approximately $230 Million
NEW YORK, July 15, 2010 – NYMAGIC, INC. (NYSE: NYM) today announced that it has
entered into a definitive agreement to be acquired by ProSight Specialty Insurance
Holdings, Inc. (“ProSight Specialty Insurance”) for $25.75 per share, which represents
a premium of 23.5% to NYMAGIC’s closing price yesterday of $20.85. ProSight
Specialty Insurance was founded by CEO Joseph Beneducci and a group of senior
executives from the P&C industry and is backed by affiliates of TPG Capital and GS
Capital Partners.
New York, March 12, 2010. NYMAGIC, INC. (NYSE:NYM) announced today that its Chief Executive Officer, A. George Kallop, intends to retire on April 2, 2010. He will be succeeded by George R. Trumbull, currently a Director of the Company, and formerly the Company’s Chairman and Chief Executive Officer, who was elected to the position of Senior Executive Vice President of the Company, effective today, and President and Chief Executive Officer of the Company, effective April 2, 2010.
New York, February 26, 2010. NYMAGIC, INC. (NYSE: NYM) reported today the results of consolidated operations for the fourth quarter ended December 31, 2009. The Company reported net income of $13.2 million, or $1.53 per diluted share for the three months ended December 31, 2009, compared with net losses of $(19.8) million, or $(2.36) per diluted share, for the fourth quarter of 2008. Net income for the year ended December 31, 2009 totaled $45.5 million, or $5.26 per diluted share, compared with net losses of $(104.3) million, or $(12.23) per diluted share, for the year ended December 31, 2008.
New York, December 10, 2009 – The Board of Directors of NYMAGIC, INC. (NYSE: NYM) announced today that it has declared a dividend to shareholders of $.06 per share, payable on January 6, 2010 to shareholders of record on December 31, 2009.
New York, November 3, 2009. NYMAGIC, INC. (NYSE: NYM) reported today the results of consolidated operations for the third quarter ended September 30, 2009. The Company reported net income of $14.6 million, or $1.68 per diluted share for the three months ended September 30, 2009, compared with net losses of $(50.1) million, or $(5.96) per diluted share, for the third quarter of 2008. Net income for the nine months ended September 30, 2009 totaled $32.3 million, or $3.74 per diluted share, compared with net losses of $(84.6) million, or $(9.85) per diluted share, for the nine months ended September 30, 2008.
New York, September 21, 2009 – A. George Kallop, President and Chief Executive Officer of NYMAGIC, INC. (NYSE: NYM), announced today that the Company has entered into a consulting agreement with Mark Blackman extending through December 31, 2010...
New York, September 17, 2009 – The Board of Directors of NYMAGIC, INC. (NYSE: NYM) announced today that it has declared a dividend to shareholders of $.06 per share, payable on October 6, 2009 to shareholders of record on September 30, 2009. This quarterly dividend represents an increase of two cents a share over recent previous quarterly dividends of $.04 per share declared by the Company.