Financial

Gateway Insurance Company Assigned Financial Stability Rating of A, Exceptional from Demotech, Inc.

47-state licensed carrier owned by Buckle continues to advance digital fronting strategy

Buckle, a tech-enabled financial services company, announced its licensed carrier, the Gateway Insurance Company, has been assigned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc.

In June, Buckle announced the acquisition and recapitalization of Gateway, including its 47 state insurance licenses. Through its digital fronting strategy™, Buckle has expanded insurance coverage to include transportation network companies (TNCs), traditional taxi, limo, and livery businesses using Lyft, Uber, and other apps.

“A Demotech rating enables us to continue the rapid advance of our digital insurance strategies in new and exciting ways,” said Marty Young, co-founder of Buckle. “We purchased, capitalized, seasoned, and relaunched Gateway all in one day. Two months later, we are successfully writing taxi and limo policies in 33 states with our partner, Anchor Group Management, Inc. and plan to expand into a

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UK financial job vacancies shrink by 60% in second quarter: data

LONDON (Reuters) – The volume of UK financial sector job vacancies dropped by 60% in the quarter to end-June, data on Wednesday showed, as the COVID-19 pandemic inflicted fresh injury to a labour market already reeling from restructuring and Brexit.

FILE PHOTO: Workers wearing face-masks travel through the Waterloo Station during the morning rush hour following the coronavirus disease (COVID-19) outbreak, in London, Britain, July 6, 2020. REUTERS/Toby Melville

The latest Morgan McKinley Spring London Employment Monitor, which details hiring trends across Britain’s financial industry, showed the number of job-seekers fell by almost a third in the three month period from April, with available jobs plunging by 72% year-on-year in that month alone.

The latest figures follow a rapid slowdown in hiring seen in March, when the number of available jobs dropped by 38% compared with February.

The early part of the April-June quarter was dominated by government-imposed lockdowns to

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