LAKEWOOD, N.J., Nov. 07, 2022 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency announced today that it will host a conference call on Tuesday, November 15, 2022, at 12:00 PM Eastern Time to discuss financial results for the quarter ended September 30, 2022, and provide a business update.
A webcast replay will be available on the investor relations section of company’s the website at https://relianceglobalgroup.com/investor-relations/ through November 16, 2023. A telephone replay of the call will be available approximately one hour following the call, through November 29, 2022, and can be accessed by dialing +1 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 47068.
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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/.
LAKEWOOD, NJ / October 6, 2022 / Reliance Global Group, Inc. (Nasdaq:RELI) (Nasdaq:RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that the management of Reliance Global Group has been invited to present at the 2022 MicroCap Rodeo Windy City Roundup Conference, which is being held on October 12 – 13, 2022 in Chicago, Illinois.
William Lebovics, Chief Financial Officer of Reliance, and Grant Barra, Senior Vice President of Reliance, are scheduled to present on Thursday, October 13th at 9:00 a.m. Central Time/10:00 a.m. Eastern Time. The presentation will be webcast live and available for replay at https://www.webcaster4.com/Webcast/Page/2924/46723. Management will also be available for one-on-one meetings with qualified investors throughout the conference.
To receive additional information, request an invitation, or to schedule a one-on-one meeting, please email angie.wright@issuerdirect.com.
The second-annual, live in-person MicroCap Rodeo is back. Join us as we go on the road and participate in the Windy City Roundup 2022 in Chicago, Illinois. Over two days in October, investors can harness top stocks for their portfolios. They’ll meet with executive management teams from approximately 60-plus microcap companies across a wide variety of industries and gain an understanding into the key value drivers and potential trends for 2023. Complementing the interactive, in-depth 25-minute one-on-one meeting format will be four tracks of company presentations.
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements such ashaving built a best-in-class platform, continuing to aggressively add new agency partners and new revenue streams to our network, such new additions and revenue streams having a multiplier effect on the growth of our business, the platform providing the Company with the ability to grow this business line significantly with little additional costs, the goal of building RELI Exchange into the largest agency partner network in the country and the growth the Company has already experienced demonstrating that the Company is on the right path. 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 and risk as and uncertainties related to: the Company’s ability to continue to aggressively add new agency partners and new revenue streams to our network, the Company’s ability to generate revenue and grow the RELI Exchange, the Company’s ability to maintain its NASDAQ listing and the other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
Platform proving to be highly scalable and attracting new agency partners nationwide
LAKEWOOD, N.J., Sept. 29, 2022 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that RELI Exchange, its business-to-business (B2B) InsurTech platform and agency partner network, has surpassed 100 agency partners (click here to view the RELI Exchange video).
Moshe Fishman, Director of InsurTech at Reliance Global Group commented, “Since its launch in July, RELI Exchange is rapidly becoming one of the premier agency partner networks in the nation. Unlike other agency solutions, our cloud-based platform does not require agency partners to pay upfront or recurring franchise fees to set up or manage – they can simply sign up as an agency partner and start leveraging the power of the RELI Exchange to grow and immediately improve the operating efficiency of their business. RELI Exchange helps agents compare quotes faster and sell more insurance in a way they could not have done before implementing the tech stack that Reliance Global Group has developed. The platform provides competitive insurance quotes from more than thirty insurance carriers nationwide in just a few minutes, ensuring clients are getting the best possible quotes. RELI Exchange also reduces an agent’s back-office burden and expenses by eliminating paperwork, thus providing the agent with more time to focus on their clients, selling policies, and growing their businesses.”
“Our platform is also attracting entrepreneurs who previously served as captive carrier agents or within large and often bureaucratic agencies. These agents can now reap the full benefits of owning their own business. Given the uncertainties of the current economy, property and casualty insurance have withstood the test of time, even in inflationary environments. At the same time, we are aggressively adding new recurring revenue streams to further entice and support the growth of our agency partner network. As a result, we are proud to announce that we have surpassed one hundred agency partners within the network.”
Mr. Ezra Beyman, Chairman and CEO of Reliance, commented, “We have received excellent feedback from our RELI Exchange agency partners. They are already reporting on the positive effects the platform is having on their business. We believe we have built a best-in-class platform and are not aware of any other offering in the insurance industry with the speed, or versatility of RELI Exchange. We are excited that the platform has grown so quickly and look forward to continuing to aggressively add new agency partners and new revenue streams to our network, which we believe will have a multiplier effect on the growth of our business. Given the proprietary software that we developed, our agency partner model is highly scalable, and we believe it will provide us with the ability to grow this business line significantly with little additional costs. As we have stated previously, our goal is to build RELI Exchange into the largest agency partner network in the country and we believe the growth we have already experienced demonstrates that we are on the right path.”
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements such ashaving built a best-in-class platform, continuing to aggressively add new agency partners and new revenue streams to our network, such new additions and revenue streams having a multiplier effect on the growth of our business, the platform providing the Company with the ability to grow this business line significantly with little additional costs, the goal of building RELI Exchange into the largest agency partner network in the country and the growth the Company has already experienced demonstrating that the Company is on the right path. 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 and risk as and uncertainties related to: the Company’s ability to continue to aggressively add new agency partners and new revenue streams to our network,the Company’s ability to generate revenue and grow the RELI Exchange, the Company’s ability to maintain its NASDAQ listing and the other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
CEO Ezra Beyman personally purchases over $400,000 of Company Stock
LAKEWOOD, N.J., Sept. 23, 2022 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that its Board of Directors (the “Board”) authorized a share repurchase program under which the Company may repurchase up to 3.0 million shares of its outstanding common stock, which will become effective three business days after the date the Company issues its quarterly earnings release for the three months ended September 30, 2022 (the “Commencement Date”), which the Company currently anticipates issuing on or about November 14, 2022.
Following the Commencement Date, and for a period of six months thereafter, repurchases may be made through open market transactions (based on prevailing market prices), privately negotiated transactions, block trades, or any combination thereof, in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of shares to be repurchased and the timing of the repurchases, if any, will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with the Company’s working capital requirements and general business conditions. The Board of Directors of the Company will re-evaluate the program from time to time and may authorize adjustments to its terms. The Company expects to utilize its existing funds to fund repurchases under the repurchase program.
Ezra Beyman, CEO of Reliance Global Group, commented, “We are pleased to announce this share repurchase program, which we expect will help drive value for shareholders by reducing the outstanding shares. We believe the Company is in a stronger position than at any time in our history, but do not believe this is reflected in the share price given the current market conditions. As further illustration of my confidence, I have personally purchased over $400,000 of stock in the open market within the past weeks. We could not be more encouraged by the outlook for the business and look forward to providing further updates on RELI Exchange and other significant initiatives underway.”
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements such asdriving value for shareholders by reducing the outstanding shares, the Company being in a stronger position than at any time in its history, the Company’s position not being reflected in its share price and providing further updates on RELI Exchange and other significant initiatives underway. 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 and risk as and uncertainties related to: the Company’s ability to implement itsshare repurchase program as planned, the Company’s ability to generate revenue and grow the RELI Exchange, the Company’s ability to maintain its NASDAQ listing and the other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
Adds New Revenue Stream for RELI Exchange Agents by Providing Clients Access to Merchant Cash Advance Services
LAKEWOOD, NJ, Sept. 08, 2022 — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has entered into a referral partnership with NRS Funding, a service of National Retail Solutions (NRS) and a provider of merchant cash advance services to independent retailers nationwide. Under the agreement, RELI Exchange affiliated agents will now be able to offer clients merchant cash advance services.
Ezra Beyman, CEO of Reliance Global Group, commented, “We are excited about our partnership with NRS Funding and look forward to providing agents on the RELI Exchange network with a potential new revenue stream accretive to the profitability of their existing businesses. We expect that this new referral partnership will benefit RELI Exchange, our agents, and most importantly, our customers.”
Elie Y. Katz, President and CEO of NRS, said, “NRS was founded to help independent brick-and-mortar retailers effectively fight back against increasing competition from large retail chains and internet retailing Goliaths. We take our commitment to our retailers seriously, and strive to provide products and services that will help their businesses prosper.”
NRS operates a point-of-sale (POS) terminal-based platform for independent retailers nationwide, including convenience, grocery, liquor, and tobacco stores. These retailers are able to process transactions and manage operations more effectively through their NRS terminal while accessing value-added services including NRS' digital payment processing service, NRS Pay. Advertisers access the terminal's digital display network to reach these retailers' predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons, and special offers to independent retailers. NRS is a subsidiary of IDT Corporation, a NYSE listed company.
Beyman added, “We designed RELI Exchange to have low barriers to entry and a compelling value proposition to help us attract new agency partners and provide them with the tools to make their businesses operate more efficiently and become more profitable. The platform has been well received by agents as evidenced by the substantial growth in our agency partner channel since the launch. We believe this latest enhancement to our already robust offering will prove to be another differentiator in the industry, providing independent agents yet another reason to consider moving to the RELI Exchange platform. We plan to continue adding new products and services in the future, which we believe will further accelerate the growth of the platform, getting us closer to our ultimate goal of building RELI Exchange into the largest agency partner network in the country. Overall, we are highly encouraged by the rapid growth of the RELI Exchange platform, and our ability to add bolt-on services for new revenue streams. Given the limited float and strong fundamentals of our business we have no current plans for a reverse stock split and remain laser focused on driving shareholder value.”
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements regarding providing agents on the RELI Exchange network with a potential new revenue stream accretive to the profitability of their existing businesses, the new referral partnership benefiting the RELI Exchange, the Company's agents and its customers, the RELI Exchange attracting new agency partners and providing them with the tools to make their businesses operate more efficiently and become more profitable, the latest enhancement to the Company's offering proving to be another differentiator in the industry and providing independent agents another reason to consider moving to the RELI Exchange platform, continuing to add new products and services in the future, accelerating the growth of the platform and building RELI Exchange into the largest agency partner network in the country. 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 and risk as and uncertainties related to: the Company's ability to provide agents on the RELI Exchange network with a potential new revenue stream accretive to the profitability of their existing businesses, the ability of the RELI Exchange to attract new agency partners and provide them with the tools to make their businesses operate more efficiently and become more profitable, the Company's ability to move independent agents to the RELI Exchange platform, the Company's ability to add new products and services in the future, accelerate the growth of the platform and build RELI Exchange into the largest agency partner network in the country, the Company's ability to generate the revenue as anticipated the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K..The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
LAKEWOOD, NJ, Aug. 15, 2022 — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (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, 2022.
Ezra Beyman, CEO of Reliance Global Group, commented, “We are extremely pleased to report a 92% year-over-year increase in revenue for the second quarter of 2022. Our strong growth reflects the successful acquisitions of JP Kush & Associates, Medigap Health Insurance Company and Barra & Associates. Importantly, we are also experiencing solid organic growth, which illustrates the synergies of our portfolio. As an example, we recently relaunched Barra & Associates as RELI Exchange, our new business-to-business InsurTech platform and agency partner network, which builds on the artificial intelligence and data mining backbone of 5MinuteInsure.com. RELI Exchange combines the best of digital and the human element by providing agents and customers quotes from multiple carriers within minutes, while reducing back office expenses and driving operational efficiency. Due to the competitive advantages and compelling value proposition of our platform, we are aggressively adding new agency partners to RELI Exchange, as evidenced by an increase in agents of more than 30% in just three months. We are committed to achieving our goal of building RELI Exchange into the largest agency partner network in the U.S. Overall, we have built a highly scalable business model that we believe will drive significant shareholder value for years to come.”
Financial results for the three months ended June 30, 2022
Revenue for the three months ended June 30, 2022, was approximately $4.2 million, an increase of approximately 92%, compared to $2.2 million for the three months ended June 30, 2021. The increase of $2.0 million was primarily driven by expanded operations, both organic and due to the additional insurance agencies acquired throughout 2021 and 2022.
Operating expenses for the three months ended June 30, 2022, were approximately $6.2 million, compared to approximately $3.3 million for the three months ended June 30, 2021. The increase in operating expenses was primarily attributable to higher commission expenses, salaries, and wages, general and administrative, advertising and marketing expenses, reflecting operating expenses of the acquired insurance agencies during 2021 and 2022, as well as increased expenses to support the Company’s growth. Operating expenses also included certain non-cash expenses and non-recurring expenses related to financing activities.
Net income for three months ended June 30, 2022, was approximately $10.5 million, compared to a loss of $1.3 million for the same period last year. The increase is primarily attributable to the recognition and change in fair value of warrant liabilities of $12.6 million.
Financial results for the six months ended June 30, 2022
Revenue for the six months ended June 30, 2022, was approximately $8.4 million, an increase of approximately 86.7%, compared to $4.5 million for the six months ended June 30, 2021. The increase was primarily driven by expanded operations, both organic and due to the additional insurance agencies acquired throughout 2021 and 2022.
Operating expenses for the six months ended June 30, 2022, were approximately $12.8 million, compared to approximately $6.1 million for the six months ended June 30, 2021. The increase in operating expenses was primarily attributable to higher commission expense, salaries, and wages, general and administrative, advertising and marketing expenses, reflecting operating expenses of the acquired insurance agencies during 2021 and 2022, as well as increased expenses to support the Company’s growth. Operating expenses also included certain non-cash expenses and non-recurring expenses related to financing activities.
Net income for six months ended June 30, 2022, was approximately $19.8 million, compared to a loss of $1.9 million for the same period last year is attributable primarily to the recognition and change in fair value of warrant liabilities of $24.5 million.
The complete financial results will be available in the Company’s Form 10-Q, which is expected to be filed with the U.S. Securities & Exchange Commission later today.
Conference Call
Reliance Global Group will host a conference call today at 2:00 P.M. Eastern Time to discuss the Company’s financial results for the second quarter ended June 30, 2022, as well as the Company’s corporate progress and other developments.
A webcast replay will also be available on the Company’s Investors section of the website (https://relianceglobalgroup.com/investor-relations/) through August 15, 2023. A telephone replay of the call will be available approximately one hour following the call, through August 29, 2022, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering conference ID: 46386.
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements such achieving the Company’s goal of building RELI Exchange into the largest agency partner network in the U.S. and driving significant shareholder value for years to come 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 and risk as and uncertainties related to: the Company’s ability to generate the revenue anticipated and the ability to build the RELI Exchange into the largest agency partner network in the U.S., and the other factors described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, the Company’s Quarterly Reports on Form 10-Q, the Company’s recent Current Reports on Form 8-K and subsequent filings with the Securities and Exchange Commission. 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.
LAKEWOOD, NJ, Aug. 11, 2022 — via NewMediaWire —Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, announced today that it will host a conference call on Monday, August 15, 2022, at 2:00 PM Eastern Time to discuss financial results for the quarter ended June 30, 2022, and provide a business update.
A webcast replay will be available on the investor relations section of the company’s website at https://relianceglobalgroup.com/investor-relations/ through August 15, 2023. A telephone replay of the call will be available approximately one hour following the call, through August 29, 2022, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 46386.
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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/.
LAKEWOOD, NJ, Aug. 09, 2022 — via NewMediaWire —Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that Ezra Beyman, Chairman and Chief Executive Officer, Moshe Fishman, Director of Insurtech, and Grant Barra, Senior VP of Operations of Reliance Global Group, will be presenting at the Q3 Investor Summit, hosted by the Investor Summit Group, being held virtually on August 16-17, 2022.
A replay of the presentation will be available on the Investor Relations section of the Company website here. Management will also host 1×1 meetings with qualified investors throughout the conference. The conference is completely complimentary to qualified investors, who can register at Complimentary Investor Registration.
About Investor Summit Group
The Investor Summit (formerly MicroCap Conference) is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors. The Q3 Investor Summit will take place virtually, featuring 90+ companies and over 500 investors comprising institutional investors, family offices, and high net worth investors. Sectors Participating: Biotech, Communication Services, Consumer, Energy, Energy/Tech, Financial, Healthcare, Industrials, Materials, Real Estate, Technology, and Tech/Crypt. Contact: info@investorsummitgroup.com
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 is focused on both organic expansion, including 5minuteinsure.com and RELI Exchange, 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/.
LAKEWOOD, NJ, Aug. 02, 2022 — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided preliminary revenue guidance for the second quarter of 2022. The Company currently expects revenue for the second quarter of 2022 to approximately double compared to the same period last year.
Mr. Ezra Beyman, Chairman and CEO of Reliance, commented, “I am pleased to report that we expect year-over-year revenues will approximately double compared to the same period last year. This growth is due in part to the acquisitions of Barra & Associates and Medigap. Importantly, both of these businesses are experiencing strong organic growth since we acquired them earlier this year, further validating our buy-and-build strategy, as well as our ability to acquire cash flow positive agencies at attractive multiples.
“Since relaunching Barra & Associates as RELI Exchange, following the integration of our state-of-the-art InsurTech platform, we have witnessed unprecedented interest and demand from new agency partners. When we acquired Barra & Associates in April of this year, it was our intention and strategy to leverage their agent network to accelerate the growth of RELI Exchange. I could not be more pleased with the progress and receptivity from the agents. Specifically, we provide our agency partners the ability to generate instant and competitive insurance quotes for their customers from more than thirty insurance carriers, utilizing our own 5MinuteInsure.com platform, while reducing back-office burden and expenses by eliminating paperwork. In turn, this frees up agents to focus on selling policies. In just three short months, we have grown our agency partner channel by over 30%. We believe this reflects the scalability of our platform and we remain steadfast in our goal of building RELI Exchange into the largest agency partner network in the U.S.
“At the same time, we are experiencing steady growth in Medigap. In July of 2022 alone, Medigap recorded nearly 800 new policies, an increase of more than 20% compared to January of 2022, the month in which we acquired them. Medicare supplemental insurance coverage represents a tremendous growth opportunity and we are executing on our strategy to aggressively expand their operations, as well as capitalize on cross-selling opportunities across our existing portfolio companies. Overall, we remain highly encouraged by the outlook for the business and look forward to providing further updates on our progress.”
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. n In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements such as revenue for the second quarter of 2022 to approximately double compared to the same period last year, year-over-year revenues approximately double compared to the same period last year, the intention and strategy to leverage Barra & Associates network to accelerate the growth of RELI Exchange, the scalability of the Company’s platform, the goal of building RELI Exchange into the largest agency partner network in the U.S., Medicare supplemental insurance coverage representing a tremendous growth opportunity and providing further updates on our progress. 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 and risk as and uncertainties related to: the Company’s ability to generate the revenue anticipated, the ability to accelerate the RELI Exchange, the ability to grow the RELI Exchange into the largest agency partner network in the U.S., the ability to take advantage of the Medicare supplemental insurance coverage growth opportunity. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, the Company’s Quarterly Reports on Form 10-Q, the Company’s recent Current Reports on Form 8-K and subsequent filings with the Securities and Exchange Commission.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.
LAKEWOOD, NJ, July 14, 2022 — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that Ezra Beyman, Chairman and CEO of Reliance Global Group, will be participating in the Benzinga All Access event taking place on July 22, 2022. Mr. Beyman will be joined by Grant Barra, Senior VP of Operations, who will be discussing the recently announced launch of RELI Exchange, a highly scalable InsurTech platform designed to accelerate growth of the Company’s agency partner network.
Mr. Beyman and Mr. Barra are scheduled to present on Friday, July 22, 2022, at 11:00 A.M. Eastern Time.
Benzinga All Access is a first-of-its-kind show: part interview, part investor presentation. On All Access, Benzinga partners with companies to bring you in-depth one-on-one conversations with executives across a wide range of industries and asset classes. From emerging biotechs, to alternative real estate investment platforms, to everything in between, guests on All Access have one thing in common: they want to tell their story to investors.
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 1995Statements 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. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, and include statements such as the recently announced launch of RELI Exchange accelerating growth of the Company’s agency partner network and the Company growing through an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including the Company’s ability to accelerate growth of the Company’s agency partner network from the RELI Exchange and its ability to grow through an organic expansion, including through 5minuteinsure.com, as well as acquire well managed, undervalued and cash flow positive insurance agencies and 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.
