UNITED STATES SECURITIES AND EXCHANGE COMMISSION ~~Washington, D.C. 20549~~

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT Pursuant to Section 13 orOR 15(d) of ~~the~~The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~October~~November 84, 2010

NYMAGIC, INC. ~~(Exact name of registrant as specified in its charter)~~

New York		1-11238		13-3534162
(State or other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

(Exact name of registrant as specified in its charter)

919 Third Avenue, New York, New York	10022
New York	1-11238	13-3534162
(Address of Principal Executive Offices)	(Zip Code)
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


919 Third Avenue, New York, New York		10022

(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (212) 551-0600

Not applicable ~~(Former name or former address if changed since last report.)~~

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

1Item 2.02. Results of Operation and Financial Condition.

~~Item~~On 5November 4, 2010, NYMAGIC, INC.02 (the “Company”) issued a press release reporting the financial results for its quarter ended September 30, 2010. ~~Departure~~A copy of ~~Directors~~the orpress ~~Certain~~release ~~Officers;~~is attached ~~Election~~to ofthis ~~Directors;~~Current ~~Appointment~~Report ofon ~~Certain~~Form ~~Officers;~~8-K ~~Compensatory~~(the ~~Arrangements~~“Current Report”) as Exhibit 99.1 and is incorporated herein solely for purposes of ~~Certain~~this ~~Officers~~Item 2.02 disclosure.

~~(e)~~ On ~~October~~November 85, 2010, ~~NYMAGIC, INC. (~~the “Company”) ~~entered~~held ~~into~~a ~~executive~~conference ~~severance~~call ~~agreements~~to ~~with~~discuss ~~Messrs. Paul~~the J.financial ~~Hart~~results of ~~and~~the ~~Thomas~~Company J.for ~~Iacopelli~~its quarter ended September 30, ~~conditioned~~2010. onA copy of the ~~consummation~~transcript of the ~~merger~~call ~~(the~~is attached ~~“Merger”)~~to ~~contemplated~~this byCurrent ~~the~~Report ~~Agreement~~as Exhibit 99.2 and ~~Plan~~ ofis ~~Merger,~~incorporated ~~dated~~herein ~~July 15,~~solely ~~2010,~~for bythe ~~and~~purposes of ~~among~~Item 2.02 ~~the~~disclosure. ~~Company,~~The ~~ProSight~~transcript ~~Specialty~~has ~~Insurance~~been ~~Holdings,~~selectively ~~Inc.~~edited ~~and~~to ~~PSI~~facilitate the ~~Merger~~understanding ~~Sub~~of ~~Inc~~the information communicated during the conference call.

~~Messrs. Hart’s~~The ~~and~~information ~~Iacopelli’s~~in ~~current~~this ~~employment~~Current ~~agreements~~Report, ~~dated~~including ~~January 1,~~the ~~2010~~exhibits attached hereto, ~~will~~is ~~continue~~being furnished inand ~~effect~~shall ~~until~~not ~~the consummation~~be deemed “filed” for purposes of Section 18 of the ~~Merger,~~Securities atExchange ~~which~~Act of ~~time~~1934, as amended (the ~~new~~“Exchange ~~executive~~Act”), ~~severance~~or ~~agreements~~otherwise ~~will~~subject ~~replace~~to the ~~current~~liabilities ~~employment~~of such section. ~~agreements~~The information in ~~their~~this ~~entirety.~~Current ~~The~~Report, ~~term~~including of the ~~executive~~exhibits, ~~severance~~shall ~~agreements~~not ~~will~~be ~~begin~~incorporated onby reference into any filing under the ~~date~~Securities Act of 1933, as amended, or the Exchange Act, ~~consummation~~regardless of ~~the~~any ~~Merger~~incorporation ~~and~~by ~~remain~~reference language in ~~effect~~such ~~until December 31, 2012~~filing.

~~Under their respective executive severance agreements, Mr.~~Item ~~Hart will continue to serve as General Counsel and will be entitled to a base salary of $300,000, and Mr~~9. ~~Iacopelli~~01. ~~will continue to serve as Chief~~ Financial ~~Officer~~Statements and ~~will be~~Exhibits entitled to a base salary of $275,000. In addition, each of Mr. Hart and Mr. Iacopelli will continue to participate in the Company’s annual incentive plan, under which each of Mr. Hart and Mr. Iacopelli has a target incentive bonus of 50% of his base salary.

~~Each of Messrs.~~(d) ~~Hart’s and Iacopelli’s executive severance agreements include provisions governing termination for any~~Exhibits ~~reason, termination without cause, resignation for good reason due to the Company’s requirement that such executive~~ ~~relocate, and resignation for good reason due to a material diminution in such executive’s duties and responsibilities.~~

~~Generally,~~The infollowing ~~the~~exhibits ~~event~~are offurnished awith ~~termination~~this ~~without~~Current ~~cause~~Report oron aForm ~~resignation for good reason due to a~~8-K: relocation, the executive will be entitled to receive severance in an amount equal to (a) two times his base salary, plus (b) his pro rated bonus. In the event of a resignation for good reason due to a diminution in the executive's duties and responsibilities, the executive will be entitled to receive severance in an amount equal to (a) his base salary, plus (b) his pro rated bonus.

During the term of the executive severance agreements and thereafter, Messrs. Hart and Iacopelli are subject to confidentiality and non-disparagement provisions. In addition, during the term of the executive severance agreements and for a two-year period following termination of employment for any reason, Messrs. Hart and Iacopelli are also subject to non-competition and non-solicitation provisions.


Exhibit No.		Description
99.1		Press Release, dated November 4, 2010.

99.2		Transcript from quarter ended September 30, 2010 financial results conference call held on November 5, 2010.

~~The above description of the executive severance agreements is a summary and is qualified in its entirety by the~~SIGNATURES ~~executive severance agreements for Messrs. Hart and Iacopelli, which are filed as Exhibits 10.1 and 10.2 hereto, and are incorporated herein by reference.~~

~~Item~~Pursuant ~~9.01.~~to ~~Financial~~the ~~Statements~~requirements ~~and~~of ~~Exhibits~~the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

~~(d) Exhibits The~~NYMAGIC, ~~following~~INC. ~~exhibits~~By: ~~are~~/s/ ~~furnished~~Thomas orJ. ~~filed,~~Iacopelli asName: ~~applicable,~~Thomas ~~with~~J. ~~this~~Iacopelli ~~Current~~Title: ~~Report~~Chief onFinancial ~~Form~~Officer ~~8-K:~~ and Treasurer

Exhibit No.		Description
10.1		Executive Severance Agreement, dated as of October 8, 2010, by and between Paul J. Hart and NYMAGIC, INC.
10.2		Executive Severance Agreement, dated as of October 8, 2010, by and between Thomas J. Iacopelli and NYMAGIC, INC.

Dated: November 8, 2010

2EXHIBIT INDEX

SIGNATURES


Exhibit No.		Description

99.1		Press Release, dated November 4, 2010.

99.2		Transcript from quarter ended September 30, 2010 financial results conference call held on November 5, 2010.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

NYMAGIC, INC. By: /s/ Thomas J. Iacopelli Name: Thomas J. Iacopelli Title: Chief Financial Officer and Treasurer

Dated: October 21, 2010

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