Reliance Global Group Inc Stock Price, News & Analysis

Reliance Global Group (NASDAQ: RELI) has signed a non-binding LOI to sell its Fortman Insurance Agency subsidiary for $5 million in cash, representing a premium over the original acquisition price. The company plans to use the proceeds to support its planned acquisition of Spetner Associates, a growing insurance platform. Under Reliance's ownership, Fortman has undergone operational improvements, system upgrades, and leadership enhancements, resulting in an expanded customer base and market presence. CEO Ezra Beyman emphasizes that this strategic move demonstrates their ability to acquire, improve, and monetize assets while highlighting the underlying value in their portfolio. The transaction, subject to due diligence and definitive documentation, aligns with Reliance's OneFirm strategy and aims to enhance shareholder value through transformative growth opportunities.

Reliance Global Group (NASDAQ: RELI) announced the withdrawal of its Form S-1 Registration Statement (No. 333-284218) from the Securities and Exchange Commission (SEC). The registration statement, initially filed on January 10, 2025, was withdrawn as the company decided not to proceed with the planned public offering at this time. The company confirmed that the registration statement had not been declared effective by the SEC, and no securities were sold in connection with the proposed offering.

Reliance Global Group (NASDAQ: RELI) reported its Q1 2025 financial results, showing improved performance and strategic growth. Commission income revenue increased 4% to $4.24M compared to Q1 2024, while net loss decreased significantly by 68% to $1.74M. The company achieved positive Adjusted EBITDA of $145,407, a 297% improvement from the previous year's loss. Key developments include the upcoming Spetner acquisition and the launch of RELI Auto Leasing, which enables agency partners to offer vehicle leasing services nationwide. The company's OneFirm model and operational streamlining have contributed to cost efficiencies, despite increases in commission expenses and salaries primarily due to non-cash equity awards. Management remains focused on expanding market share and improving profitability through InsurTech innovations and disciplined fiscal management.

Reliance Global Group (NASDAQ: RELI) has announced it will host a conference call on Wednesday, May 14, 2025, at 4:30 PM Eastern Time to discuss its first quarter 2025 financial results and provide a business update. The call will be accessible via telephone and webcast, with U.S. callers able to dial toll-free at +1 888-506-0062 (access code: 848176). A webcast replay will be available through May 13, 2026, while a telephone replay can be accessed until May 27, 2025.

Reliance Global Group (NASDAQ: RELI) has launched RELI Auto Leasing, a new service enabling RELI Exchange Agency Partners to offer vehicle leasing nationwide with delivery to any location in the United States. The initiative allows insurance agents to earn commissions on both lease agreements and residual insurance policies.

Through the agent dashboard, partners can connect clients with leasing options without requiring specialized auto leasing training. The service integrates with RELI's existing insurance business, allowing agents to help clients project how different vehicles will impact their insurance premiums before making a decision.

The platform aims to strengthen client relationships by combining auto leasing and insurance services, providing a comprehensive solution for customers while creating additional revenue streams for agency partners. The service features competitive pricing and a wide selection of vehicles available for delivery across the U.S.

Reliance Global Group (RELI) reported its 2024 financial results, showing a 2% increase in commission income revenue to $14.05M from $13.73M in 2023. The company's net loss decreased by 24% to $9.07M, compared to $12.01M in 2023. Adjusted EBITDA loss improved significantly, decreasing 39% to $321,224 from $526,798 in 2023.

The company highlighted its OneFirm strategy, which has integrated agency operations into a unified technology platform. RELI's Quote & Bind platform, powered by AI, has expanded to include more carriers and insurance products. The company is also in the final stages of completing the Spetner acquisition, which is expected to expand its insurance offerings.

Reliance Global Group (NASDAQ: RELI) has announced a conference call scheduled for Thursday, March 6, 2025, at 4:30 PM Eastern Time. The call will discuss the company's financial results for the fourth quarter and year ended December 31, 2024, along with providing a business update.

Participants can join via telephone by dialing toll-free +1 888-506-0062 (U.S. callers) or +1 973-528-0011 (international callers) with access code 522829. A webcast will be available through the company's investor relations website, with replay access through March 6, 2026. A telephone replay will be accessible until March 20, 2025.

Reliance Global Group (Nasdaq: RELI) announced a major expansion of its Commercial Quote & Bind InsurTech solution on RELI Exchange, following its successful beta launch in late 2024. The expansion includes additional carriers and product offerings to the platform's agent distribution channel, with plans to introduce more business lines and carriers in upcoming months.

The enhanced platform aims to empower insurance agents with advanced InsurTech solutions to improve efficiency and business growth. The system allows agents to quote and bind a wider range of commercial insurance policies, optimizing the insurance purchasing experience through automation.

According to CEO Ezra Beyman, these enhancements will enable agents to connect with more prospects, write more policies, and increase their earnings. The company's goal is to position RELI Exchange as the industry's leading comprehensive agency partner platform.

Reliance Global Group (NASDAQ: RELI) reports a transformative 2024, highlighting the success of its OneFirm approach which has driven revenue growth, reduced expenses, and strengthened EBITDA. The company's Q3 2024 showed significant improvements linked to this strategic initiative.

The planned Spetner acquisition is nearing completion in early 2025, expected to nearly double annual revenue to approximately $28 million while boosting Adjusted EBITDA. Notably, Spetner's BenManage voluntary benefit insurance segment has grown from 45,000 to over 85,000 employees covered.

The company aims to build a multi-billion dollar enterprise through strategic expansion and disciplined fiscal management.