Fitch Ratings has affirmed the ?A-? insurer financial strength ratings of Imagine Insurance Company Limited (Imagine) and Imagine International Reinsurance Limited. The rating outlook is stable.

?The affirmations reflect Imagine?s below-average underwriting risk, conservative investment strategy, historically strong capital formation rate (Imagine has grown its capital to more than $600 million from $200 million since inception in 2000 through retained earnings and capital contributions) and the continued majority ownership of Imagine by Brookfield Asset Management.? Fitch said.

Although Fitch said it considers Imagine?s underwriting risk to be below-average, the company?s underwriting risk has been increasing as it has implemented its expansion from transactions with contractually capped loss profiles (also known as finite-risk reinsurance) into traditional property, casualty and life reinsurance.