Shareholders of NYMAGIC approved a merger agreement with ProSight Specialty Insurance Holdings, paving the way for the deal to be completed.

The board of directors of New York-based NYMAGIC declared a dividend to shareholders of 10 cents, payable Oct. 6.

A lawyer in Bensalem, Pa., says he has begun an investigation into corporate actions involved the planned sale of New York-based NYMAGIC to ProSight Specialty Insurance Holdings announced last week.

NYMAGIC is going to be acquired by ProSight Specialty Insurance Holdings, a specialty property-casualty insurance company.

NYMAGIC, a New York-based insurance holding company with property-casualty subsidiaries underwriting ocean marine, inland marine and non-marine liability policies, announced a 10-cent per share quarterly dividend for the fourth quarter.

The president and CEO of New York, N.Y.-based NYMAGIC, said the recent ratings affirmation for his company and its subsidiaries is “a confirmation of our financial strength.”

NYMAGIC is an insurance …  Read →