Demotech downgrades Buckle’s Gateway to M
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Demotech downgrades Buckle’s Gateway to M

Shelby Rosenberg
June 27, 2023
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Demotech has downgraded the financial strength rating (FSR) of Gateway Insurance Company, rideshare InsurTech Buckle’s licensed carrier for gig economy drivers in Florida, and Buckle’s non-standard auto insurance policies underwritten to M (moderate) from A (exceptional).

The change reflects a sharp decline in Gateway’s gross written premiums from its peak of nearly $102mn for Q4 of 2022 to just over $33mn for Q1 of 2023.

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