Marks seventh successful agency acquisition in under 2 years
LAKEWOOD, NJ, Sept. 23, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (OTCQB: RELI) ("RELI" or the "Company"), today announced that it has acquired the assets of UIS Agency, LLC (UIS), a premier regional insurance agency serving the commercial transportation industry.
Ezra Beyman, CEO of Reliance Global Group, stated, "UIS is a perfect addition to our insurance agency portfolio, as they complement our existing holdings, which includes auto transport/towing, and commercial transportation insurance. Premium rates in the transportation sector have increased steadily in recent years, driven primarily by the trucking segment. UIS has been a leader in the field for over 20 years and brings established relationships with leading carriers to offer competitive rates for drivers and trucking companies, the life blood of our economy. We are excited to consummate our seventh successful agency acquisition in under 24 months, with a much larger pending acquisition underway and others in our pipeline."
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.
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.