Welcome to our dedicated page for Reliance Global Group news (Ticker: RELI), a resource for investors and traders seeking the latest updates and insights on Reliance Global Group stock.
Reliance Global Group Inc (RELI) operates at the intersection of insurance services and technological innovation, specializing in strategic acquisitions and InsurTech solutions. This page serves as the definitive source for verified company news, offering stakeholders timely updates on operational developments and market positioning.
Access comprehensive coverage of RELI's commission-driven growth strategy, including earnings reports, partnership announcements, and technology deployments. Key focus areas include updates on RELI Exchange platform enhancements, acquisition activity in wholesale/retail insurance markets, and progress in AI-driven consumer solutions like 5minuteinsure.com.
Our news collection prioritizes factual reporting on operational milestones without speculative commentary. Regular updates ensure investors maintain awareness of capital structure optimizations, real estate diversification efforts, and other initiatives impacting long-term enterprise value.
Bookmark this page for efficient tracking of RELI's dual growth strategy: acquiring undervalued insurance assets while advancing cloud-based technologies that streamline industry operations. Check back regularly for official updates directly influencing the company's risk/reward profile in evolving insurance markets.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) announced a private placement offering expected to close on or around December 27, 2021, raising $20 million. The offering includes 9,076 shares of Series B Convertible Preferred Stock, 2,670,892 shares of common stock, and warrants to purchase up to 9,779,952 shares. Proceeds will mainly fund the acquisition of Medigap and enhance marketing for 5MinuteInsure.com. The preferred stock is convertible to common shares at $4.09 each, while the warrants feature the same exercise price, expiring in five years.
Reliance Global Group (Nasdaq: RELI; RELIW) announced its plan to acquire Medigap Health Insurance Company for approximately $19.6 million. This transaction is expected to close in the first quarter of 2022, subject to customary conditions. Medigap, an insurance brokerage based in Florida, specializes in Medicare supplement insurance and generated about $7 million in revenue in the last twelve months. The acquisition aims to enhance Reliance's capabilities in the Medicare market, potentially increasing revenue by over 70%, and is anticipated to be highly accretive.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) announced that CEO Ezra Beyman will participate in the Benzinga All Access event on December 16, 2021, at 10:20 a.m. ET. The event features a live interview moderated by Spencer Israel, Executive Producer of Benzinga TV. Viewers can watch the event live here, with an archived recording available on the company's investor relations website.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) has successfully expanded its insurance platform, 5MinuteInsure.com, to include 20 states across the U.S., reaching a population of over 100 million. CEO Ezra Beyman expressed satisfaction with the rapid rollout and highlighted ongoing discussions for significant acquisitions to enhance product offerings. This platform utilizes AI to streamline insurance purchases, providing quotes in under 2 minutes and binding coverage in 5 minutes.
Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) has expanded its 5MinuteInsure.com platform to four additional states: Missouri, Alabama, Iowa, and West Virginia. This expansion brings the total number of states served to 12, covering over 82 million people. The platform, utilizing AI and data mining, allows users to receive competitive auto insurance quotes quickly and bind coverage within minutes. The company's growth strategy includes organic expansion and acquiring undervalued insurance agencies.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) has announced the promotion of Jonathan Fortman to Vice President of Acquisitions. Fortman, who has been with the company since its acquisition of Fortman Insurance Services in 2019, will report directly to Chairman and CEO Ezra Beyman. The company aims to enhance its growth strategy by accelerating the acquisition of cash flow positive insurance agencies, building on the success of 5MinuteInsure.com. This initiative is part of Reliance's strategy to become a leading 'clicks and bricks' insurance provider.
Reliance Global Group (Nasdaq: RELI; RELIW) has launched 5MinuteInsure.com in South Carolina, now live in 8 states with a total population exceeding 65 million. The platform utilizes AI and data mining to offer competitive insurance quotes in under 2 minutes, allowing consumers to bind coverage within 5 minutes. This initiative aims to provide a fast and efficient way for consumers to save on insurance amid rising inflation. The company continues to expand its digital presence and innovative services.
Reliance Global Group (Nasdaq: RELI; RELIW) has launched its platform 5MinuteInsure.com in North Carolina, expanding its coverage to a total of 7 states. This follows recent launches in Virginia and Tennessee. The platform utilizes AI to provide competitive insurance quotes quickly, allowing consumers to compare and purchase coverage in under 5 minutes. CEO Ezra Beyman emphasized the company's commitment to a rapid rollout and aggressive marketing strategy to enhance market presence.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) has launched 5MinuteInsure.com in Virginia, expanding its coverage to six states. The platform offers rapid insurance quotes in under two minutes, allowing consumers to complete purchases in five minutes. CEO Ezra Beyman emphasized the quick rollout alongside strategic marketing for client acquisition. Reliance intends to grow organically and through acquiring cash flow positive insurance agencies, enhancing its AI-driven insurance services.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) has launched 5MinuteInsure.com in Tennessee, following successful launches in Michigan, Arizona, Indiana, and Ohio. This platform utilizes AI to provide competitive insurance quotes in under 2 minutes and allows binding of coverage within 5 minutes. CEO Ezra Beyman highlighted the rapid expansion capabilities and the potential for significant policy savings for consumers.
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