Welcome to our dedicated page for Reliance Global Group news (Ticker: RELIW), a resource for investors and traders seeking the latest updates and insights on Reliance Global Group stock.
Reliance Global Group Inc (RELIW) operates at the forefront of InsurTech innovation, combining artificial intelligence with strategic acquisitions to transform insurance operations. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, technological advancements, and market positioning.
Access real-time information about earnings announcements, partnership agreements, and technology deployments that shape the company's growth trajectory. Our curated collection includes press releases detailing AI platform enhancements, acquisition strategies, and operational efficiency initiatives across wholesale/retail insurance markets.
Key focus areas include cloud-based solution rollouts, risk management innovations, and regulatory compliance updates. Users benefit from centralized access to strategic decisions impacting the company's InsurTech leadership and financial performance.
Bookmark this page for streamlined monitoring of RELIW's market movements and technology-driven transformation within the insurance sector. Return regularly for authoritative reporting on developments that influence the evolving landscape of digital insurance solutions.
Reliance Global Group (Nasdaq: RELI) has announced a significant debt reduction of approximately $5.55 million, representing a 50% decrease in its long-term debt. The debt repayment was primarily funded through the $5.0 million proceeds from the sale of Fortman Insurance Services subsidiary, with additional funds from released cash collateral.
As a result of this strategic deleveraging, RELI's annual principal, interest, and service fee payments are expected to decrease from $2.95 million to $1.1 million, representing a 61% reduction in annual debt service obligations. The company plans to utilize this improved financial flexibility to support strategic initiatives, including the planned acquisition of Spetner Associates.
Reliance Global Group (Nasdaq: RELI) has completed the sale of its subsidiary Fortman Insurance Services for $5 million in cash. The transaction represents a profitable exit, as the sale price exceeds Reliance's initial 2019 purchase price for Fortman.
The strategic divestment of this non-core asset aims to strengthen the company's balance sheet and support its long-term growth initiatives. Additionally, Reliance reaffirmed its plans to complete the acquisition of Spetner Associates, which is expected to enhance the company's OneFirm strategy and operational scale.
Reliance Global Group (Nasdaq: RELI) has highlighted strong preliminary unaudited Q1 2025 financial results from Spetner Associates, a company they are in the process of acquiring. Spetner demonstrated exceptional performance with revenue growth of 95% year-over-year to $5.16 million and net income growth of 220% to $2.98 million.
The company reported significant improvements across key metrics, including an increase in operating income margin to 74% and doubled cash flows from operating activities to $2.6 million. These results align with Reliance's strategy of acquiring high-performing insurance distribution platforms to enhance their technology-driven business model.
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.