NYMAGIC, INC. Declares Dividend
December 04 2008 - 12:15PM
PR Newswire (US)
NEW YORK, Dec. 4 /PRNewswire-FirstCall/ -- The Board of Directors
of NYMAGIC, INC. (NYSE:NYM) announced today that it has declared a
dividend to shareholders of $0.08 per share, payable on January 7,
2009 to shareholders of record on December 31, 2008. NYMAGIC, INC.
is an insurance holding company whose property and casualty
insurance subsidiaries specialize in writing ocean marine, inland
marine and non-marine liability insurance, and whose agency
subsidiaries specialize in establishing markets for such business.
The Company maintains offices in New York and Chicago. This report
contains certain forward-looking statements concerning the
Company's operations, economic performance and financial condition,
including, in particular, the likelihood of the Company's success
in developing and expanding its business. Any forward-looking
statements concerning the Company's operations, economic
performance and financial condition contained herein, including
statements related to the outlook for the Company's performance in
2008 and beyond, are made under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These statements
are based upon a number of assumptions and estimates which
inherently are subject to uncertainties and contingencies, many of
which are beyond the control of the Company. Some of these
assumptions may not materialize and unanticipated events may occur
which could cause actual results to differ materially from such
statements. These include, but are not limited to, the cyclical
nature of the insurance and reinsurance industry, premium rates,
investment results and risk assessments, the estimation of loss
reserves and loss reserve development, uncertainties associated
with asbestos and environmental claims, including difficulties with
assessing latent injuries and the impact of litigation settlements,
bankruptcies and potential legislation, the uncertainty surrounding
the loss amounts related to the attacks of September 11, 2001, and
hurricanes Katrina and Rita, the occurrence and effects of wars and
acts of terrorism, net loss retention, the effect of competition,
the ability to collect reinsurance receivables and the timing of
such collections, the availability and cost of reinsurance, the
possibility that the outcome of any litigation or arbitration
proceeding is unfavorable, the ability to pay dividends, regulatory
changes, changes in the ratings assigned to the Company by rating
agencies, failure to retain key personnel, the possibility that our
relationship with Mariner Partners, Inc. could terminate or change,
and the fact that ownership of our common stock is concentrated
among a few major stockholders and is subject to the voting
agreement, as well as assumptions underlying any of the foregoing
and are generally expressed with words such as "intends," "intend,"
"intended," "believes," "estimates," "expects," "anticipates,"
"plans," "projects," "forecasts," "goals," "could have," "may have"
and similar expressions. These and other risks could cause actual
results for the 2008 year and beyond to differ materially from
those expressed in any forward-looking statements made. The Company
undertakes no obligation to update publicly or revise any
forward-looking statements made. CONTACTS: NYMAGIC, INC. A. George
Kallop, 212-551-0610 or Richard Lewis Communications, Inc.
212-827-0020 Cecelia Heer or Gregory Tiberend DATASOURCE: NYMAGIC,
INC. CONTACT: A. George Kallop of NYMAGIC, INC., +1-212-551-0610;
or Cecelia Heer, , or Gregory Tiberend, , both of Richard Lewis
Communications, Inc., +1-212-827-0020, for NYMAGIC, INC.
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