Business
Reliance Global Group Achieves 73% Increase in Revenue to $16.8 Million for 2022
Reports Continued Growth of RELI Exchange Platform Company to Host Conference Call Today at 4:30 PM Eastern Time LAKEWOOD, N.J., March 30, 2023 (GLOBE
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"Reports Continued Growth of RELI Exchange Platform Company to Host Conference Call Today at 4:30 PM Eastern Time LAKEWOOD, N.J., March 30, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today provided a business update and reported financial results for the year-ended December 31, 2022. Ezra Beyman, CEO of Reliance, commented, “We are extremely pleased to report a 73% increase in revenue in 2022 as compared to 2021. This achievement was due to the growth and overall solid performance from our ten operating subsidiaries. We are also very proud of our most recent business formation, RELI Exchange, built on the foundations of Barra & Associates, an agency we acquired in April 2022. RELI Exchange is a business-to-business (B2B) InsurTech platform and agency partner network for insurance agents and agencies, providing independent agents a comprehensive suite of business development tools propelling them to effectively compete with national agencies.” “The RELI Exchange InsurTech platform has been a game-changer for Reliance, allowing us to deliver on our promise, to provide our clients best in class risk management / insurance coverage at the best value for their money. RELI Exchange as of December 31, 2022, supported home and auto insurance, however, we continually invest time and resources to expand the platform for additional products that will provide added client value. This is best illustrated by our February 2023 addition of our proprietary life insurance quotation tool, which enables agents to immediately compare life insurance policies and pricing in under a minute, thereby facilitating enhanced client discussions and more expeditious policy binding.” “March 2023 saw the unveiling of RELI University, a new training platform for our RELI Exchange agency partners. Designed specifically for the independent insurance industry, the platform provides both new and experienced agents with a complete education on all the products, services, and tools available through RELI Exchange. In addition, RELI University keeps agents abreast of the latest carrier and industry developments, enabling them to stay ahead of the curve and grow their businesses.” “The exceptional efforts and unwavering commitment from our team have driven a surge of nearly 200% in agency partners on th...