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NYMAGIC REPORTS RESULTS FOR THREE MONTHS ENDED MARCH 31, 1992

 NYMAGIC REPORTS RESULTS FOR THREE MONTHS ENDED MARCH 31, 1992
 NEW YORK, May 8 /PRNewswire/ -- NYMAGIC, Inc. (NASDAQ: NYMG) reported today the results of consolidated operations for the three months ended March 31, 1992. John N. Blackman, Jr., chairman, announced that total revenues for the first quarter of 1992 were $23,990,076, a decrease of approximately 8 percent over total revenues in the first quarter of 1991, which were $26,109,627. Included in total revenues were realized investment gains in the first quarter of 1992 of $939,744 compared with realized investment gains of $2,863,859 in the first quarter of 1991.
 Net premiums earned for the three months ended March 31, 1992, were $17,376,777, compared with $18,019,279 for the same period of the prior year for a decrease of approximately 4 percent. Net investment income for the quarter ended March 31, 1992, was $4,558,631, a decrease of approximately 3 percent over the first-quarter 1991 net investment income of $4,684,129. Commission income for the three months ended March 31, 1992, was $1,044,874 compared with $435,799 for the same period of the prior year for an increase of approximately 140 percent.
 Net income for the three months ended March 31, 1992, was $4,382,902 compared with $5,268,409 for the same period of 1991, or a decrease of approximately 17 percent. Net income per share for the first quarter of 1992 was $.38 compared with $.46 for the same period a year ago.
 NYMAGIC, Inc. is an insurance holding company whose property and casualty insurance subsidiaries specialize in ocean marine, inland marine, aircraft and non-marine liability insurance, and whose agency subsidiaries specialize in establishing markets for such business.
 NYMAGIC, INC.
 Table of Results
 Three months ended March 31 1992 1991
 Total revenues $23,990,076 $26,109,627
 Premiums earned 17,376,777 18,019,279
 Net investment income 4,558,631 4,684,129
 Commission income 1,044,874 435,799
 Other income 70,050 106,561
 Realized investment gains 939,744 2,863,859
 Net income 4,382,902 5,268,409
 Net income per share .38 .46
 Average shares outstanding 11,405,933 11,383,096
 -0- 5/8/92
 /CONTACT: James A. Lambert of NYMAGIC, 212-953-0580/
 (NYMG) CO: NYMAGIC Inc. ST: New York IN: INS SU: ERN


TS -- NY016 -- 7975 05/08/92 09:21 EDT
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Publication:PR Newswire
Date:May 8, 1992
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