Reliance Global Group Reflects on Strategic Achievements in Year-End Review – Eyes on Future Growth

Reliance Global Group, Inc. (NASDAQ: RELI) recently released a comprehensive year-end review outlining the significant advancements and strategic milestones achieved during the transformative year of 2024. The company expressed its forward-looking vision and strategic initiatives for the future, bolstered by its operational successes and growth prospects.

Ezra Beyman, the Chairman and Chief Executive Officer of Reliance Global Group, highlighted the pivotal nature of 2024 for the company. With the implementation of the RELI Exchange OneFirm approach, a unified operational platform was established, leading to enhanced efficiencies across all facets of the business. This integrated strategy was designed to drive sustainable growth and create long-term value for the company and its stakeholders. The positive outcomes of this strategic shift were evident, with notable revenue growth, expense reductions, and strengthened EBITDA demonstrated in the performance results for the third quarter of 2024.

A key focus for Reliance in 2024 has been the imminent completion of the Spetner acquisition, which is currently in its final stages and expected to conclude in early 2025. The acquisition, once finalized, is projected to significantly boost the company’s annual revenue to around $28 million and enhance its Adjusted EBITDA. The growth trajectory of Spetner’s BenManage voluntary benefit insurance segment further underlines the promising outlook anticipated from this strategic move. The impending completion of this acquisition underscores Reliance’s commitment to executing initiatives that drive expansion, profitability, and lasting value for its shareholders.

Looking forward, the company is poised to deliver further positive updates in the early months of 2025 as it continues to progress towards its corporate objectives. With the OneFirm transformation successfully implemented and the Spetner acquisition on track, Reliance is optimistic about its ability to achieve its goal of establishing a multi-billion dollar, highly profitable enterprise. The company remains resolute in its commitment to strategic expansion, innovation, and disciplined financial management as it aims to deliver consistent results and long-term value to its shareholders and stakeholders.

Reliance Global Group, Inc. operates as an InsurTech pioneer, leveraging cutting-edge technologies such as artificial intelligence (AI) and cloud-based systems to enhance efficiencies within the insurance agency and brokerage industry. The RELI Exchange platform offers a wide array of business development tools to independent insurance agencies, enabling them to compete effectively with larger national counterparts while reducing administrative costs. The company’s commitment to innovation and growth underscores its vision to become a leader in the insurance industry.

The information contained in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results may vary from expectations due to various factors. The company remains dedicated to updating its stakeholders on its progress and operational developments continuously.

For more information about Reliance Global Group, Inc., visit their website at https://www.relianceglobalgroup.com.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Reliance Global Group’s 8K filing here.

About Reliance Global Group

Reliance Global Group, Inc focuses in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides agency services for insurance products in the healthcare and Medicare, personal and commercial, trucking, property and casualty, and insurance brokerage. The company was formerly known as Ethos Media Network, Inc and changed its name to Reliance Global Group, Inc in October 2018.