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) announced an update on its pending acquisition of Spetner Associates, expected to close in the second half of 2024. The acquisition is projected to double the Company's annual revenue to approximately $28 million. Spetner's BenManage insurance segment has expanded significantly, now covering 85,000 employees, up from 45,000 at the acquisition announcement. CEO Ezra Beyman highlighted this acquisition as the largest in the Company's history, aligning with their 'OneFirm' strategy to build a profitable, technology-driven enterprise. The acquisition is seen as a key growth inflection point for Reliance.
Reliance Global Group (Nasdaq: RELI) reported financial results for Q1 2024, revealing significant development. The company achieved consistent organic growth, driven by its 'OneFirm' approach integrating nine agencies across the U.S. Reliance announced a definitive agreement to acquire Spetner Associates, expected to double annual revenue to $28 million and boost EBITDA. Spetner's advanced technologies and voluntary benefits programs align with Reliance's strategy to expand personal insurance lines via the RELI Exchange platform. The acquisition aims to enhance shareholder value and position Reliance as a leading technology-enabled enterprise within the $463 billion global insurance market. A conference call to discuss these updates is scheduled for May 20, 2024, at 4:30 PM ET.
Reliance Global Group (NASDAQ: RELI; RELIW) has announced a conference call on May 20, 2024, at 4:30 PM ET to discuss its Q1 2024 financial results and provide a business update.
US callers can dial +1 888-506-0062, and international callers can dial +1 973-528-0011 with access code 512517 to join. A webcast will be available on the company's website and a replay will be accessible through May 20, 2025.
Reliance Global Group announced the acquisition of Spetner Associates, a benefits enrollment company. This move is projected to double Reliance's revenue to approximately $28 million in 2024, with an expected Adjusted EBITDA of over $4 million. Spetner, through its BenManage platform, serves over 75,000 employees in the U.S. and integrates HR processes such as benefits enrollment, applicant tracking, onboarding, and payroll. The acquisition is seen as a strategic fit to enhance Reliance's tech-driven insurance enterprise, offering cross-selling opportunities and operational efficiencies.
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