Reliance Global Group

Reliance Global Group, Inc. is a diversified company, which engages in the business of insurance market and other relates sectors. It focuses on acquisition strategy, wholesale, and retail insurance agencies. The company was founded on August 2, 2013 and is headquartered in Lakewood, NJ.

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Reliance Global Group doubles revenue with Spetner acquisition, eyes growth

Reliance Global Group's Q1 2024 performance showcased growth potential through the Spetner acquisition, despite short-term financial challenges. The company's strategic focus on market expansion, service enhancement, and shareholder value creation positions it for future success.

Reliance Global Group reports growth and innovation, eyes Spetner acquisition

Reliance Global Group's Q3 performance reflects positive revenue growth, improved cost management, and strategic initiatives positioning the company for future growth and profitability.
While challenges like net losses persist, opportunities from the Spetner acquisition, AI solutions, and market expansion offer avenues for sustained growth and financial success.
Navigating market challenges and leveraging strengths in innovation and financial performance will be crucial for RELI to capitalize on growth opportunities and enhance shareholder value.

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Post acquisition, Reliance's revenue expected to increase greater than 100% Attractive consolidated EBITDA returns expected for FY'24 and beyond LAKEWOOD, N.J., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group , Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today announced it has entered into a Letter of Intent (LOI) to acquire a well established benefits enrollment company (the “Target”).

Reliance Global Group Announces Letter of Intent for Most Significant Acquisition to Date

Lakewood, NJ, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI) (“Reliance Global Group” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency under the RELI Exchange umbrella, today announced it has withdrawn its previously announced underwritten public offering.

Reliance Global Group, Inc. Withdraws Proposed Underwritten Public Offering

Lakewood, NJ, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI) (“Reliance Global Group” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency under the RELI Exchange umbrella, today announced it has commenced an underwritten public offering. Reliance Global Group intends to use the net proceeds from the offering for working capital to grow the Company and general corporate purposes.

Reliance Global Group, Inc. Announces Proposed Underwritten Public Offering

Reliance Global Group, Inc. (NASDAQ:RELI ) Q3 2023 Earnings Call Transcript November 13, 2023 4:30 PM ET Company Participants Ted Ayvas - IR Ezra Beyman - Chairman and CEO Joel Markovits - CFO Conference Call Participants Mike Albanese - EF Hutton Operator Greetings. Welcome to the Reliance Global Third Quarter 2023 Financial Results and Business Update Conference Call.

Reliance Global Group, Inc. (RELI) Q3 2023 Earnings Call Transcript

Consolidates All Reliance Owned Agencies Under the RELI Exchange Brand Anticipated Benefits Include Enhanced Efficiencies, Cross Talent Utilization, and Cross-Selling Reliance is Positioned for Seamless Integration of Accretive Acquisitions and Rapid Scalability SMIC Now Under the RELI Exchange Umbrella LAKEWOOD, NJ, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group , Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today formally announces its OneFirm vision and branding consolidation under the RELI Exchange umbrella. Ezra Beyman, CEO of Reliance, commented, "As we continue to grow, the Company is furthering its ‘OneFirm' approach which brings together Reliance Global Group's individual agencies under the single umbrella of RELI Exchange.

Reliance Global Group Embraces 'OneFirm' Approach for Future Growth

Working Capital Increases by $5.4 million Company to Host Conference Call Today at 4:30 PM Eastern Time LAKEWOOD, NJ, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group , Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today provided a business update and reported financial results for the third quarter and nine months ended September 30, 2023. Ezra Beyman, CEO of Reliance, commented, "We are pleased to report a 16% and 19% year-over-year increase in revenue for the third quarter and first nine months of 2023 respectively.

Reliance Global Group's Revenue Grows by 16% for the Third Quarter of 2023

Lakewood, NJ, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced today that it will host a conference call Monday, November 13, 2023 at 4:30 PM Eastern Time to discuss financial results for the third quarter of 2023 and provide a business update.

Reliance Global Group Schedules Third Quarter 2023 Financial Results and Business Update Conference Call

Reliance Global Group, Inc. (NASDAQ:RELI ) Q2 2023 Earnings Conference Call August 10, 2023 12:00 PM ET Company Participants Theodore Ayvas - Investor Relations, Crescendo Communications Ezra Beyman - Chairman and Chief Executive Officer Grant Barra - Senior Vice President of Operations Moshe Fishman - Director of Insurtech and Operations Joel Markovits - Chief Financial Officer Conference Call Participants Michael Albanese - EF Hutton Operator Greetings. Welcome to the Reliance Global Second Quarter 2023 Financial Results and Business Update Conference Call.

Reliance Global Group, Inc. (RELI) Q2 2023 Earnings Call Transcript

Working Capital Increases by $6.8 million RELI Exchange Continuing to Grow its Network of Agency Partners Strategic Plan for Consolidation of Subsidiary Agencies Leading to Enhanced Market Presence Reports 30% Reduction in Loss from Operations for the First Half of 2023 Over Same Period Last Year Company to Host Conference Call Today at 12:00 PM Eastern Time LAKEWOOD, N.J., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group , Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today provided a business update and reported financial results for the second quarter ended June 30, 2023.

Reliance Global Group Achieves 12% Increase in Revenue for the Second Quarter of 2023

Lakewood, NJ, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced today that it will host a conference call Thursday, August 10, 2023 – 12:00 PM Eastern Time to discuss financial results for the second quarter of 2023 and provide a business update.

Reliance Global Group Schedules Second Quarter 2023 Financial Results and Business Update Conference Call

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Reliance Global Group, Inc. (NASDAQ:RELI ) Q1 2023 Results Conference Call May 18, 2023 4:30 PM ET Company Participants Theodore Ayvas - VP, Crescendo Communications Ezra Beyman - Chairman & Chief Executive Office Joel Markovits - Chief Financial Officer Conference Call Participants Edward Reily - EF Hutton Elon Friedman - VKC Fund Operator Greetings, and welcome to the Reliance Global First Quarter 2023 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode.

Reliance Global Group, Inc. (RELI) Q1 2023 Earnings Call Transcript

RELI Exchange Continuing to Add New Agency Partners and Support Growth Company to Host Conference Call Today at 4:30 PM Eastern Time LAKEWOOD, N.J., May 18, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group , Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today provided a business update and reported financial results for the first quarter ended March 31, 2023.

Reliance Global Group Achieves 29% Increase in Revenue for the First Quarter of 2023

Lakewood, NJ, May 18, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced that it will host a conference call today, Thursday May 18, 2023 at 4:30 PM Eastern Time to discuss financial results for the first quarter of 2023 and provide a business update.

Reliance Global Group Schedules First Quarter 2023 Financial Results and Business Update Conference Call

Lakewood, NJ, May 04, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced today that its management team will be participating in The Inaugural EF Hutton Global Conference, which will be held on May 10-11, 2023, at the Plaza Hotel in New York City. The Inaugural EF Hutton Global Conference is a two-day, invitation-only event featuring key executives from approximately 150 public and private companies to convey their unique stories to an extensive audience that includes institutional investors, high-net-worth individuals, corporate clients, and exclusive members of the press.

Reliance Global Group to Participate in the Inaugural EF Hutton Global Conference

Reliance Global Group, Inc. (NASDAQ:RELI ) Q4 2022 Earnings Conference Call March 30, 2023 4:30 PM ET Company Participants Theodore Ayvas - VP, Crescendo Communications Ezra Beyman - Chairman & Chief Executive Office Joel Markovits - Chief Financial Officer Conference Call Participants Edward Reily - EF Hutton Operator Good day, everyone, and welcome to the Reliance Global Group Fourth Quarter and 2022 Year-End Financial Results and Business Update Conference Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Ted Ayvas.

Reliance Global Group, Inc. (RELI) Q4 2022 Earnings Call Transcript

Lakewood, NJ , March 16, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced the closing of its previously announced private placement of common stock (or pre-funded warrants in lieu thereof) and warrants.

Reliance Global Group, Inc. Announces Closing of $4.0 Million Private Placement

LAKEWOOD, N.J., March 16, 2023 (GLOBE NEWSWIRE) -- 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 2022 fiscal year. The Company currently projects revenue for the 2022 fiscal year of more than $16.5 million, an increase of greater than 70% compared to 2021.

Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022

LAKEWOOD, N.J., March 15, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance Global”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, announced the launch of RELI University, a new innovative communication and training tool developed by RELI Exchange.

Reliance Global Group Announces Launch of RELI University

LAKEWOOD, N.J., March 14, 2023 (GLOBE NEWSWIRE) -- 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 200 agency partners, which represents a greater than 200% increase in agency partners since the launch of RELI Exchange in July 2022.

Reliance Global Group Announces RELI Exchange Surpasses 200 Agency Partners Representing Over 200% Growth in Agency Partners Since July 2022

Lakewood, NJ, March 13, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” 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 securities purchase agreement with a single institutional investor to raise gross proceeds of approximately $4.0 million through the private placement of 155,038 shares of common stock and 897,594 pre-funded warrants and warrants to purchase an aggregate of 2,105,264 shares of common stock underlying the common warrants.

Reliance Global Group, Inc. Announces Pricing of $4.0 Million Private Placement Priced At-the-Market Per Nasdaq Rules

LAKEWOOD, N.J., Feb. 14, 2023 (GLOBE NEWSWIRE) -- 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 the conversion of $645,000 of a $1.845 million Company loan (the “Note”), beneficially held by the Company's CEO, Mr. Ezra Beyman, at $0.64 per share, significantly above the closing market price of $0.55 on February 13, 2023, which is equal to 1,009,390 common shares.

Reliance Global Group Announces Partial Conversion of Company Loan Beneficially Held by Company CEO Significantly Above Current Share Price

Provides enhanced sales tools and streamlines operations for agency partners

Reliance Global Group Expands its RELI Exchange Artificial Intelligence-Based InsurTech Platform with CRM Integration

LAKEWOOD, NJ, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) with the personalized experience of a traditional insurance agency, today announced that it has added a real-time, life insurance quotation tool to both its RELI Exchange and 5Minuteinsure.com platforms. The tool displays life insurance quotes from more than 15 life insurance companies, and builds upon the Company's successful home and auto insurance offerings.

Reliance Global Group Announces Real-Time Life Insurance Quotes are Now Available through its InsurTech Platforms

Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) with the personalized experience of a traditional insurance agency, today announced that it has entered into a referral partnership with Eastern Union Funding, LLC (“Eastern Union”), a provider of commercial real estate finance and capital market solutions. Under the agreement, RELI Exchange agency partners will now be able to refer clients to Eastern Union for commercial real estate financing, including multi-family and commercial structures.

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