Reliance Global Group, Inc (RELI)

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About Reliance Global Group, Inc

Reliance Global Group, Inc. engages in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides healthcare and Medicare, personal and commercial, trucking and transportation, and employee benefits insurance products. The company was formerly known as Ethos Media Network, Inc. and changed its name to Reliance Global Group, Inc. in October 2018. Reliance Global Group, Inc. was incorporated in 2013 and is headquartered in Lakewood, New Jersey. Address: 300 Boulevard of the Americas, Lakewood, NJ, United States, 08701

Reliance Global Group, Inc News and around…

Latest news about Reliance Global Group, Inc (RELI) common stock and company :

Reliance Global Group Launches 5MinuteInsure.com in Missouri, Alabama, Iowa and West Virginia
29 Nov, 2021 FinancialContent
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23 Nov, 2021 FinancialContent

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Reliance Global Group Promotes Jonathan Fortman to Vice President of Acquisitions
22 Nov, 2021 FinancialContent
Reliance Global Group Announces Successful Launch of 5MinuteInsure.com in South Carolina
18 Nov, 2021 FinancialContent
Reliance Global Group Announces Launch of 5MinuteInsure.com in North Carolina
17 Nov, 2021 FinancialContent
Reliance Global Group Launches 5MinuteInsure.com in Virginia
16 Nov, 2021 FinancialContent
Reliance Global Group Announces Successful Launch of 5MinuteInsure.com in Tennessee
15 Nov, 2021 FinancialContent
Reliance Global Group Reports 54% Increase in Revenue for the Third Quarter of 2021
10 Nov, 2021 FinancialContent
Reliance Global Group Launches 5MinuteInsure.com in Michigan and Arizona
03 Nov, 2021 FinancialContent
Insurance Stocks Moving In Wednesday's Intraday Session
27 Oct, 2021 FinancialContent

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27 Oct, 2021 FinancialContent

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22 Oct, 2021 FinancialContent

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Reliance Global Group to Present at Dawson James Securities 6th Annual Small Cap Growth Conference on October 21, 2021
19 Oct, 2021 FinancialContent
Reliance Global Group Announces Successful Launch of 5MinuteInsure.com in Indiana
18 Oct, 2021 FinancialContent
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12 Oct, 2021 FinancialContent

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Reliance Global Group Announces Successful Launch of 5MinuteInsure.com
13 Sep, 2021 FinancialContent
Reliance Global Group to Present at the H.C. Wainwright 23rd Annual Global Investment Conference
10 Sep, 2021 FinancialContent
Reliance Global Group Reports 33.4% Increase in Revenue for the Second Quarter of 2021
17 Aug, 2021 Yahoo! Finance

On track to commence commercial launch of 5MinuteInsure.com this summer; increases insurance carriers on the platform to 16 LAKEWOOD, N.J., Aug. 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided a business update and reported financial results for the second quarter ended June 30, 2021. Ezra Beyman, CEO of Reliance Glo

Reliance Global Group Adds Lemonade and Hippo to its 5MinuteInsure.com Platform
26 Jul, 2021 Yahoo! Finance

On track for commercial launch of 5MinuteInsure.com this summer LAKEWOOD, NJ, July 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an insurtech company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced its subsidiary, Fortman Insurance Services LLC, has been approved to offer insurance products from Lemonade Inc. and Hippo Enterprises Inc. through the Company’s 5Minute

Reliance Global Group Schedules Commercial Launch of 5minuteinsure.com for Q3 2021; Demo Video Now Available Online
08 Jun, 2021 Yahoo! Finance

LAKEWOOD, N.J., June 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced plans for the commercial launch of its 5minuteinsure.com platform in Q3 2021 and reports that its new demo video is available on the Company’s website. 5minuteinsure.com is designed to utilize artificial intelligence (AI) to provide competitive ins

Reliance Global Group Reports 15% Increase in Revenue for the First Quarter of 2021 and Provides Corporate Update
14 May, 2021 Yahoo! Finance

LAKEWOOD, N.J., May 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided a business update and reported financial results for the first quarter ended March 31, 2021. Ezra Beyman, CEO of Reliance Global Group, commented, “We continue to execute on our organic growth strategy as evidenced by a 15% increase in revenue for the first quarter of 2021 over the same period last year. I am also pleased to report that we continue to increase the cash flow from our insurance operations. We ended the quarter with over $10 million of cash and restricted cash, which provides us a solid balance sheet to execute on our near and long-term growth objectives. At the same time, we are accelerating our M&A strategy by targeting additional growing, cash flow positive agencies we can acquire at attractive multiples, as illustrated by our recently announced acquisition of J.P. Kush and Associates, Inc., a premier healthcare insurance agency with over one hundred independent agents across 10 states. Importantly, this acquisition is consistent with our strategy of targeting companies that we believe will expand our national footprint, add additional carrier relationships, provide opportunities for meaningful operating synergies and are expected to be accretive to earnings. We are currently evaluating additional acquisition opportunities that we believe may be highly synergistic and in line with our core strategy.” “We are also making progress towards rolling out our new 5minuteinsure.com platform, which we continue to believe will be transformative for our Company. After a successful initial Beta program, 5Minuteinsure.com gathered valuable information on the online insurance consumer’s ideal experience. Through extensive research, we have determined the key factors required to most efficiently convert a prospect into a client, using the online interactive platform. Consumers are demanding online tools to compare live quotes for home and auto insurance between multiple carriers, which at the same time, enable the consumer to instantly purchase the coverage they desire, on a single platform. This is a major differentiating factor from lead generator comparison sites that compare non-binding quotes and sell your information as a lead. We believe Reliance is in a strong position to fill the personal insurance needs of the online consumer through 5MinuteInsure.com. Our R&D team has been working aggressively at fine tuning the user experience to align with the needs and growing demand of consumers.” “As previously discussed, this state-of-the-art platform is designed to utilize artificial intelligence (AI) to provide competitive insurance quotes online within five minutes, with minimal data input by the customer. 5minuteinsure.com combines the best of a traditional insurance agency, including the option for direct agent interaction with the ability to bind a policy either online or offline. The list of carriers offered on the platform continues to grow rapidly. We now have 11 carriers on the platform and have licenses in 46 states. These carriers have been impressed by Reliance Global Group Inc.’s investment in the user experience by using AI to bring accurate and adequately underwritten quotes to clients faster. Our initial plan is to focus on home and auto insurance, with plans to expand to additional types of insurance. Our recent acquisition of J.P. Kush and Associates provides us additional capabilities and expertise in the health insurance marketplace, which we plan to leverage longer term through 5minuteinsure.com. Overall, we are extremely encouraged by the outlook for the business and believe we are poised to disrupt the insurtech industry through our multi-channel approach utilizing both our online platform and offline agents.” Financial Results The Company achieved revenues of $2,296,328 for the three months ended March 31, 2021, as compared to $2,004,314 for the three months ended March 31, 2020. The Company had total commission expense of $529,472 for the three months ended March 31, 2021 compared to $425,585 for the three months ended March 31, 2020. The Company had total general and administrative expenses of $1,004,401 for the three months ended March 31, 2021, as compared to $1,121,120 for the three months ended March 31, 2020. Loss from operations for the three months ending March 31, 2021 was $512,257, compared to $807,518 for the three months ended March 31, 2020. Net loss for the three months ended March 31, 2021 was $641,328, or ($0.09) per share, compared to $979,798, or ($0.34), the three months ended March 31, 2020. The complete financial results are available in the Company’s Form 10-Q, which has been filed with the U.S. Securities & Exchange Commission and is available on the Company’s website. About Reliance Global Group, Inc. Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Contact: Crescendo Communications, LLC Tel: +1 (212) 671-1020 Email: RELI@crescendo-ir.com

Reliance Global Group Acquires Premier Health Insurance Agency J.P. Kush and Associates, Inc.
13 May, 2021 Yahoo! Finance

LAKEWOOD, N.J., May 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an “insurtech” company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced it has acquired J.P. Kush and Associates, Inc., a premier healthcare insurance agency with operations in 10 states, headquartered in Troy, Michigan. J.P. Kush’s founder, Joshua Kushnereit, will become part of the Reliance Global family as Chief Operating Officer of the new Kush Benefits Solutions, LLC, which is now a wholly owned subsidiary of Reliance Global Group, Inc. Founded in 2008, J.P. Kush adds over 100 independent agents to Reliance’s agency network across the United States, including California, Florida, Ohio, Michigan, Mississippi, New Mexico, South Carolina, Texas, Utah and Wisconsin. J.P. Kush has established relationships with a number of the country’s leading insurance carriers. In 2019 and 2020, J.P. Kush was ranked as the most active agency writing policies with Molina Healthcare, Inc. in the State of Michigan. Mr. Kushnereit has been in the insurance industry over 15 years and has been consistently ranked among the top insurance producers, in addition to building a national network of agents. Mr. Kushnereit is experienced in the complexities of the Affordable Care Act and how it affects insurance products. Ezra Beyman, CEO of Reliance Global Group, commented, “We are delighted to announce the acquisition of J.P. Kush, which brings an extensive network of over one hundred independent agents across 10 states and expands our expertise in the health insurance marketplace. Importantly, this acquisition is consistent with our strategy of acquiring growing, cash flow positive agencies at attractive multiples, where the founders are incentivized to support the long-term growth of the Company. We are pleased to welcome Joshua and his team to expand our national presence. Moreover, J.P. Kush generated revenue of more than $1.1 million over the trailing twelve months with mid-double digit operating margins. Based on a purchase price of $1,950,000, we believe this transaction has the potential to be highly accretive. The purchase has been funded through a combination of cash, restricted stock and an earnout. In addition, we believe we can help to not only grow J.P. Kush’s sales, but we anticipate meaningful operating synergies.” “In addition to the immediate synergies with our existing agency portfolio companies, the addition of J.P. Kush will support our future plans to add new insurance products to our 5minuteinsure.com platform, including health insurance policies. As we have stated previously, we believe the insurance market is ripe for disruption through digital technologies and we are working rapidly towards our goal of full commercial launch of 5minuteinsure.com. We look forward to providing further updates as we prepare to launch our full commercial site. I’d like to commend the team behind 5minuteinsure.com given the progress we have made in a short amount of time.” Additional details on the transaction are available in the Company’s Form 8-K, to be filed with the Securities and Exchange Commission within four business days of closing the transaction. About Reliance Global Group, Inc. Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is an insurtech company combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Contact: Crescendo Communications, LLC Tel: +1 (212) 671-1020 Email: RELI@crescendo-ir.com

Reliance Global Group, Inc (RELI) is a NASDAQ Common Stock listed in , ,

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