NYMAGIC, INC. Announces Appointments
August 17 2009 - 5:47PM
PR Newswire (US)
NEW YORK, Aug. 17 /PRNewswire-FirstCall/ -- NYMAGIC, INC.
(NYSE:NYM) announced today the appointment of senior officers at
its subsidiary, Mutual Marine Office, Inc. Tim McAndrew has been
appointed Executive Vice President and Chief Underwriting Officer -
Ocean Marine. In addition, Ed Skoch has been appointed Executive
Vice President and Chief Underwriting Officer - Other Liabilities
and Inland Marine/Fire. Tim and Ed will report directly to George
Kallop, President and Chief Executive Officer. Tim McAndrew has
over 28 years of experience in the insurance industry, and he has
been working in the marine insurance industry since 1983. Tim
joined the Company as a marine underwriter in 1989 and has expanded
his role and responsibilities with the company over the years. His
most recent title was Senior Vice President and Manager of the
Marine and Energy Division. Prior to joining the Company, Tim held
positions with Allstate, Navigators and Highlands Insurance
Companies. Tim is a Certified Property and Casualty Underwriter and
also attained the Associate Marine Insurance Management
Designation. Tim is a graduate of Lafayette College and attended
Rutgers Graduate School of Management. Ed Skoch has over 17 years
of experience in the insurance industry. Mr. Skoch joined the
Company in 2001. Most recently, he was Senior Vice President and
Manager of the Professional Liability and Excess Workers'
Compensation Division, a position he has occupied for the past four
years. Previously, Mr. Skoch managed excess workers' compensation
underwriting and co-managed professional liability underwriting
beginning in 2003. Before that, he managed large casualty and
professional liability claims. Prior to joining the Company, Mr.
Skoch worked in a variety of positions for insurance carriers as a
claims adjuster, defense counsel and coverage counsel. Mr. Skoch is
an attorney and member of several state bars. He graduated from
Northwestern School of Law of Lewis and Clark College and John
Carroll University. George Kallop, President and Chief Executive
Officer, commented, "These appointments represent an important step
forward in the management of our business. Tim and Ed bring a
wealth of experience and fresh ideas that are expected to
strengthen and grow our underwriting business. We are committed to
increasing new product development and expanding marketing
initiatives as a means to achieving profitable growth in premiums
written and earned." Mark W. Blackman, formerly NYMAGIC's Executive
Vice President and Chief Underwriting Officer resigned as an
officer and employee of NYMAGIC and its subsidiaries last week. He
continues to serve as a Director of NYMAGIC. NYMAGIC, INC. is an
insurance holding company whose property and casualty insurance
subsidiaries specialize in underwriting 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. 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 and
the Company's ability to pay dividends in 2009 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, the estimation
of loss reserves and loss reserve development, net loss retention,
the effect of competition, the ability to collect reinsurance
recoverables, the availability and cost of reinsurance, changes in
the value of the Company's investment portfolio, changes in the
ratings assigned to the Company by rating agencies and other risks
and uncertainties as included in the Company's filings with the
Securities and Exchange Commission. These risks could cause actual
results for the 2009 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. CONTACT: NYMAGIC, INC. A. George
Kallop, 212-551-0744 or Richard Lewis Communications, Inc. Gregory
Tiberend, 212-827-0020 DATASOURCE: NYMAGIC, INC. CONTACT: A. George
Kallop of NYMAGIC, INC., +1-212-551-0744; or Gregory Tiberend of
Richard Lewis Communications, Inc., +1-212-827-0020, for NYMAGIC,
INC.
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