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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest reported): December 19, 2023
Reliance
Global Group, Inc.
(Exact
name of registrant as specified in its charter)
Florida |
|
001-40020 |
|
46-3390293 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
Incorporation) |
|
File
Number) |
|
Identification
Number) |
300
Blvd. of the Americas, Suite 105, Lakewood, NJ 08701
(Address
of principal executive offices)
(732)
380-4600
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2.)
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CF$ 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol(s) |
|
Name
of Each Exchange on which Registered |
Common
Stock, $0.086 par value per share |
|
RELI |
|
The
Nasdaq Capital Market |
Series
A Warrants to purchase shares of Common Stock, par value $0.086 per share |
|
RELIW |
|
The
Nasdaq Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
7.01. Regulation FD Disclosure.
On
December 19, 2023, Reliance Global Group, Inc. (the “Company”) issued a press release providing an update on its business-to-business
InsurTech platform, RELI Exchange. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The
information included in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that
section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth under this
Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required
to be disclosed solely to satisfy the requirements of Regulation FD.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
Reliance
Global Group, Inc. |
|
|
|
Dated:
December 19, 2023 |
By: |
/s/
Ezra Beyman |
|
|
Ezra
Beyman |
|
|
Chief
Executive Officer |
Exhibit
99.1
Reliance
Global Group Provides Year-End Update on RELI Exchange
Reports
more than 60% increase in total RELI Exchange policies following
onboarding
of Fortman Insurance under new “One-Firm” approach
Adds
two new insurance carriers, resulting in 35 carriers now within the network
365
agents now on the RELI Exchange platform
RELI
Exchange positioned for further growth heading into 2024
LAKEWOOD,
N.J., December 19, 2023 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we”
or the “Company”), today provided an update on its business-to-business InsurTech platform, RELI Exchange.
Ezra
Beyman, CEO of Reliance, stated, “Since the launch of RELI Exchange last year, the platform has rapidly become one of the
premier agency partner networks in the country. At the same time, we continue to enhance the platform to provide an even more
compelling value proposition for both existing agency partners and potential agency partners. Notably, we have witnessed a more than
60% increase in total RELI Exchange policies following the onboarding of Fortman Insurance under our new and fully integrated
“One-Firm” approach. Additionally, RELI Exchange continues to add new commercial insurance carriers to its already
robust lineup, allowing our agency partners to expand their business further by providing competitive insurance quotes across a
variety of insurance products. With the recent addition of two new carriers, we now offer coverage from more than 35 insurance
carriers nationwide. Through our AI and machine learning algorithms, agents can provide quotes from a wide array of carriers across
the nation in just a few minutes, ensuring that their clients are getting a diverse and competitive selection to choose from. All of
this has served to accelerate the growth of the platform as evidenced by the fact we now have more than 365 agencies in our
exclusive Agency Partner network. Moreover, our agency partners have competitive offerings in all 46 states in which we operate.
With the U.S. insurance market’s vast potential, valued at approximately $2.7 trillion in 2021 and anticipated to grow by 26%
to $3.4 trillion by 2027, we believe that the success of the RELI Exchange platform positions the Company to continue its growth and
gain market share heading into 2024.”
About
Reliance Global Group, Inc.
Reliance
Global Group, Inc. (NASDAQ: RELI, RELIW) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies,
to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech
platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them
to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s
business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes
within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio
of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout
the United States, offering a wide variety of insurance products. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking
statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. In some
cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,”
“continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,”
“estimates,” and similar expressions. Actual results may differ materially from those in the forward-looking statements as
a result of a number of factors, including those risk factors described in the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2022, as the same may be updated from time to time. The Company undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as of the date of this press release.
Contact:
Crescendo
Communications, LLC
Tel:
+1 (212) 671-1020
Email:
RELI@crescendo-ir.com
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