Fitch Affirms Imagine Insurance's 'A-' Rating.CHICAGO -- Fitch Ratings has affirmed the 'A-' insurer financial strength (IFS) ratings of Imagine Insurance Company Limited (Imagine) and Imagine International Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Limited (Imagine International). 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  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . . (Fitch considers Imagine to be a strategic subsidiary of Brookfield.) Although Fitch 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. As a writer of traditional reinsurance, Imagine competes globally against many larger, better-capitalized competitors. Imagine International is a Dublin-based, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Imagine. Fitch considers Imagine International to be a strategic subsidiary of Imagine based on business synergies, common management, common branding, and shared resources. Imagine also provides explicit support to Imagine International through a net worth maintenance agreement. Imagine is a Barbados-based global, diversified, specialty insurance company that was formed in and began conducting business in late 2000. Imagine is the principal subsidiary of Imagine Group Holdings Limited (together, the Imagine Group), a Bermuda-based reinsurance holding company formed in conjunction with Imagine. The Imagine Group's primary investor is Canadian-based Brookfield Asset Management (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : BAM Bam (bäm), town (1996 pop. 70,100), Kerman prov., SE Iran, on the intermittent Bam River. Located on the western edge of the Dasht-e Lut, Bam is a trade center in a henna-growing region. Dates and other fruits are also grown; camels are raised. .LV.A; NYSE NYSE See: New York Stock Exchange : BAM). The following ratings have been affirmed by Fitch with a Stable Outlook: Imagine Insurance Company Limited Imagine International Reinsurance Limited -- Insurer financial strength rating 'A-'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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