LAKEWOOD, N.J., Aug. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTCQB: RELI) ("RELI" or the "Company"), today announced the appointment of senior insurance industry executive, Sheldon Brickman, as an independent member of the Company's Board of Directors. Mr. Brickman replaces David Lazar who has resigned due to personal commitments. As a result, the Board of Directors consists of 5 members, including 3 independent directors.
Mr. Brickman is the founder and president of Rockshore Advisors LLC, which provides a range of advisory services, including traditional mergers & acquisitions services, due diligence, valuations and strategic consulting. Mr. Brickman brings over 25 years of M&A advisory and business development experience, having overseen more than $40 billion in deal value. He has worked for numerous multibillion dollar insurance carriers, including assignments for companies as AIG, Aetna and National General. Mr. Brickman has assisted international companies (UAE, UK, Asia and Latin America), start-up operations, and regional insurance carriers. Mr. Brickman's experience covers the property casualty and life/health markets, including work with insurance carriers, managing general agencies, wholesalers, retailers and third party administrators.
Prior to starting Rockshore Advisors, he served as Head of International M&A and Business Development for Aetna International. He previously worked at AIG for more than 17 years in various executive level M&A and business development positions around the world where he was responsible for buying and selling numerous businesses on behalf of the company. Before joining AIG, Mr. Brickman spent four years at Hanwa Company LTD, a Japanese investment Company, and three years at the international accounting firm of Deloitte & Touche. Mr. Brickman received his Bachelor of Science in Accounting from Brooklyn College and is a Certified Public Accountant in New York State.
Ezra Beyman, CEO of Reliance Global Group, stated, "Sheldon is an outstanding addition to our board of directors as we rapidly accelerate our strategy to become the nation's leading 'clicks and bricks' insurance company. Specifically, he brings extensive M&A, due diligence, and valuation experience, having represented a diverse mix of insurance, underwriting, risk management, and fintech-related businesses. Importantly, we have recognized an enormous and untapped market opportunity within the insurance industry, which we intend to capitalize on through our partnership with Nsure.com, combined with an aggressive acquisition strategy. The insurance agency market is overdue for disruption, as well as consolidation, and we look forward to Sheldon's contributions as a member of the board. I'd also like to thank David Lazar for his contributions, and we wish him well in his future endeavors."
Mr. Brickman noted, "I am excited to join Reliance at this exhilarating time in the Company's evolution. Specifically, by acquiring undervalued insurance agencies and leveraging Nsure.com's advanced digital platform, Reliance is uniquely positioned to upend the insurance agency market."
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.