Reliance Global Group, Inc. (RELI): History, Ownership, Mission, How It Works & Makes Money

When you look at a company like Reliance Global Group, Inc. (RELI), are you seeing a traditional insurance holding company or a tech-driven consolidator in a fragmented market?

The answer is both, and the numbers from the 2025 fiscal year show a clear pivot: they sold Fortman Insurance Services for $5 million, netting a $3 million gain, which immediately helped reduce long-term debt by approximately 50% and boosted unrestricted cash by 590% to $2.6 million.

This strategic streamlining, plus the expansion of their InsurTech platforms like RELI Exchange and a new Digital Asset Treasury Initiative, is what makes their story relevant right now, even with Q3 2025 commission income hitting $2.5 million.

You need to understand how this mix of old-school acquisitions and new-school technology, including their use of AI, actually translates into shareholder value, especially with equity growing by 125% to $6.8 million this year.

Reliance Global Group, Inc. (RELI) History

Reliance Global Group, Inc. (RELI) has evolved from a small, non-insurance entity into a technology-driven insurance agency consolidator. The company's story is one of strategic pivots, leveraging acquisitions to scale in the fragmented US insurance market while integrating proprietary InsurTech (insurance technology) to drive efficiency and profitability.

Given Company's Founding Timeline

Year established

The company was incorporated on November 1, 2013, initially under the name Ethos Media Network, Inc.

Original location

RELI was initially incorporated in Nevada, but its operational headquarters are now in Lakewood, New Jersey.

Founding team members

While specific co-founders from the 2013 incorporation are not widely detailed, the company's strategic direction and transformation are definitively tied to Ezra Beyman, who has served as the Chairman and Chief Executive Officer since 2018.

Initial capital/funding

Details on the initial seed capital are not public, but the company's growth has been fueled by various funding methods, including equity and debt financing, such as the private placement secured in June 2025.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's trajectory has been defined by a decisive shift from a general holding company to a focused InsurTech consolidator, a strategy driven by the 'OneFirm' model. This model unifies acquired agencies under a cohesive operational structure to maximize efficiency.

The most significant transformative period occurred in 2025, which saw a major financial restructuring to strengthen the balance sheet and prepare for sustainable growth. Honestly, this restructuring is the clearest signal of a mature strategy.

• Strategic Divestiture and Debt Reduction: In the third quarter of 2025, the company completed the sale of Fortman Insurance Services (FIS) for $5 million, realizing an approximate $3 million gain. Proceeds were immediately used to repay approximately $5.6 million of long-term debt, reducing the overall debt load by about 50% and cutting annual debt service by over $1.8 million.
• Balance Sheet Strengthening (as of Q3 2025): This disciplined fiscal management resulted in a meaningfully stronger financial position compared to the 2024 fiscal year-end. Unrestricted cash increased approximately 590% to $2.6 million, and working capital grew by 284% to $1.6 million.
• First-Ever Dividend Announcement: Following the successful restructuring, the company announced its first-ever dividend in November 2025: a $0.03 per share special dividend, payable in December 2025. This move signals confidence in the improved financial flexibility and a commitment to shareholder returns.
• Focus on InsurTech and New Revenue: The launch of RELI Auto Leasing in 2025, alongside the continued adoption of advanced InsurTech solutions, shows a clear commitment to technology-driven growth and opening new commission streams for its agency partners.

For a deeper dive into how these moves are impacting the financials, you should read Breaking Down Reliance Global Group, Inc. (RELI) Financial Health: Key Insights for Investors. What this estimate hides, of course, is the execution risk of integrating new technology and acquisitions, but the Q1 2025 Adjusted EBITDA gain of $145,407 (up 297%) suggests the efficiency efforts are defintely starting to pay off.

Reliance Global Group, Inc. (RELI) Ownership Structure

Reliance Global Group, Inc. (RELI) maintains a highly concentrated ownership structure, where a significant majority of the stock is held by retail investors and company insiders, giving the management team substantial control over strategic decisions. This dynamic means that while institutional investors like BlackRock, Inc. hold shares, their collective influence is currently minimal compared to the large individual and retail base.

Given Company's Current Status

Reliance Global Group is a publicly traded company, listed on the Nasdaq Capital Market (NasdaqCM:RELI), which means its shares are available for trading by the general public. As an InsurTech pioneer, the company is governed by the rules and regulations of the U.S. Securities and Exchange Commission (SEC), requiring public disclosure of its financials and ownership changes. For example, the company reported its third-quarter 2025 financial results on November 6, 2025, and announced a special cash dividend of $0.03 per share payable in December 2025, a clear action of a public entity rewarding shareholders.

The stock price as of November 20, 2025, was $0.65 per share, reflecting a challenging year where the price declined by nearly 50% from November 2024. This volatility is defintely something you need to factor into your valuation models, as high retail ownership can sometimes amplify price swings.

Given Company's Ownership Breakdown

The company's ownership breakdown shows a structure heavily weighted toward individual investors and insiders, a common trait for smaller-cap growth companies. You can dive deeper into who is buying and why by Exploring Reliance Global Group, Inc. (RELI) Investor Profile: Who's Buying and Why?

Given Company's Leadership

The leadership team is small and focused, with a long average tenure for the board of directors at 5.9 years, which suggests stability but also a tight-knit decision-making circle. The strategic direction is clearly set by the founder, Ezra Beyman, who holds the dual role of Chairman and CEO.

Here's a quick look at the core executive team steering the organization as of November 2025:

• Ezra Beyman: Chairman and Chief Executive Officer (CEO). His total yearly compensation for the 2025 fiscal period was approximately $484.86K.
• Joel Markovits, CPA: Chief Financial Officer (CFO).
• Yaakov Beyman: Executive Vice President, Insurance Division.
• Grant Barra: Senior Vice President of Operations.
• Michael Dobek: Chief Operating Officer (COO) for RELI Exchange.

Plus, the company recently appointed Blake Janover as Chairman of its Crypto Advisory Board in November 2025, signaling a continued focus on digital asset strategy alongside its core InsurTech business. This shows they're actively mapping new opportunities.

Reliance Global Group, Inc. (RELI) Mission and Values

Reliance Global Group, Inc. (RELI) defines its purpose by pioneering the InsurTech space, using artificial intelligence (AI) and cloud technology to drive efficiency and profitability across the insurance brokerage industry. Their values center on innovation, disciplined execution, and creating tangible, long-term value for shareholders and agency partners alike.

Reliance Global Group, Inc.'s Core Purpose

The company's core purpose is to transform the traditional insurance agency model, making it more efficient and competitive for independent agencies while providing consumers with streamlined, technology-enabled services. This drives their 'OneFirm' strategy, which unifies their platforms for maximum operational efficiency.

Here's the quick math on execution: The focus on disciplined fiscal management and streamlining operations under the OneFirm model resulted in unrestricted cash increasing by approximately 590% to $2.6 million as of the third quarter of 2025, compared to the prior fiscal year-end. That's a huge jump in liquidity.

Official mission statement

While a single, boilerplate mission statement isn't formally published, the company's stated operational mission is to be an InsurTech pioneer and a force multiplier for its partners.

• Transform the insurance agency/brokerage industry using artificial intelligence (AI) and cloud-based technologies.
• Provide independent insurance agencies with a full suite of business development tools via the RELI Exchange platform.
• Deliver competitive online insurance quotes within minutes to consumers through the 5minuteinsure.com platform.

Vision statement

The long-term vision is clear: build a highly profitable enterprise by staying at the forefront of financial technology and strategic growth.

• Build a multi-billion dollar, highly profitable enterprise through strategic expansion and disciplined fiscal management.
• Position the company at the intersection of InsurTech, AI, and blockchain innovation.
• Drive long-term, sustainable value for shareholders, evidenced by the Board approving the company's first special cash dividend of $0.03 per share, payable in December 2025.

The company is defintely putting its capital where its mouth is, with Equity improving by approximately 125% to $6.8 million in Q3 2025, compared to the 2024 fiscal year-end. If you want to dive deeper into who's buying in, you should check out Exploring Reliance Global Group, Inc. (RELI) Investor Profile: Who's Buying and Why?

Reliance Global Group, Inc. slogan/tagline

Reliance Global Group, Inc. does not appear to use a single, public-facing slogan or tagline in its recent investor communications. Instead, its strategic narrative emphasizes its core functional identity.

• De facto Slogan: InsurTech Pioneer.
• Strategic Focus: The RELI Exchange OneFirm approach.

The focus is on action, not abstract marketing language. They are all about execution and efficiency.

Reliance Global Group, Inc. (RELI) How It Works

Reliance Global Group, Inc. (RELI) operates as an InsurTech pioneer, meaning it blends traditional insurance brokerage with proprietary technology to streamline the process for both independent agents and end consumers. Its core function is to acquire and manage insurance agencies while simultaneously deploying its digital platforms, RELI Exchange and 5minuteinsure.com, to drive efficiency and generate commission income.

Given Company's Product/Service Portfolio

Given Company's Operational Framework

The company's operational framework is built on a dual-pronged strategy: aggressive technology integration and disciplined financial management. This is how they drive value.

You can see this focus in the recent moves, like the sale of Fortman Insurance Services for $5.0 million, which generated an approximate $3.0 million gain, allowing a significant debt reduction. That was a smart, clean move.

• Execute the OneFirm Strategy: Unifies all acquired agency operations onto a single, standardized platform to cut redundant back-office costs and boost internal efficiency.
• Centralize Policy Administration: Launched a white-label client service center on RELI Exchange to streamline policy servicing, making agents more productive and scalable.
• Leverage InsurTech for Organic Growth: Use AI and cloud-based technologies within RELI Exchange and 5minuteinsure.com to improve underwriting precision and reduce customer acquisition costs.
• Diversify Capital Strategy: Established a Digital Asset Treasury (DAT) program, overseen by a Crypto Advisory Board, which includes investments in assets like Bitcoin, Ethereum, and Solana, to pursue capital appreciation and innovation exposure.

To be fair, this technology-first approach is defintely a high-risk, high-reward bet on the future of insurance distribution. You can read more about the long-term thinking here: Mission Statement, Vision, & Core Values of Reliance Global Group, Inc. (RELI).

Given Company's Strategic Advantages

Reliance Global Group's market success hinges on its ability to offer independent agents a competitive edge against large national carriers, plus its newly strengthened financial foundation.

• Proprietary InsurTech Ecosystem: The RELI Exchange platform gives small-to-midsize agencies the sophisticated tools-like AI-driven automation-they need to compete, which is a massive retention driver.
• Stronger Balance Sheet: The strategic divestiture of Fortman Insurance Services allowed the company to reduce its long-term debt by approximately 50%, or $5.6 million, and increased unrestricted cash by a remarkable 590% to $2.6 million as of Q3 2025. This gives them crucial financial flexibility.
• Focus on High-Growth Segments: The company is shifting its focus toward higher-margin Property & Casualty (P&C) revenue, which saw an 8% increase in Q2 2025, offsetting declines in other areas.
• New Revenue Streams: The launch of RELI Auto Leasing creates an immediate cross-selling opportunity for their existing agent network, turning a car insurance sale into a potential leasing commission.

Here's the quick math on the shift: Q3 2025 commission income was $2.5 million, down from $3.4 million in the prior year, primarily due to the Fortman sale, but the resulting debt reduction lowers annual debt service by over $1.8 million, which is a huge boost to future cash flow.

Reliance Global Group, Inc. (RELI) How It Makes Money

Reliance Global Group, Inc. (RELI) generates its revenue primarily through commission income earned by its network of independent insurance agencies on policies sold across the United States. This model is a technology-enabled insurance agency aggregator, meaning it acquires agencies and then drives efficiency and growth through its proprietary InsurTech platform, RELI Exchange, which provides agents with carrier access and a streamlined digital workflow.

The company's revenue engine is built on recurring, residual income-you get paid a commission every time a policy renews, which is a powerful lever for long-term cash flow. The strategic shift in 2025 is toward higher-growth, tech-enabled segments like Property & Casualty (P&C) and away from less strategic assets, as evidenced by the sale of Fortman Insurance Services.

Reliance Global Group, Inc.'s Revenue Breakdown

The revenue mix is actively shifting as of late 2025, moving away from a reliance on the Medical/Health sector toward the more scalable Property & Casualty (P&C) lines and new offerings like auto leasing. Here's the quick math on the approximate revenue composition based on the latest available data, which shows a clear focus on the P&C segment's 8% growth in Q2 2025.

The P&C segment, which includes personal and commercial lines like auto, home, and trucking insurance, is the core growth driver, showing an 8% increase in Q2 2025 commission income. Conversely, the Medical/Health segment saw a decline due to a client base shift and the Q3 2025 divestiture of Fortman Insurance Services, which resulted in a $3.0 million gain on sale.

Business Economics

Reliance Global Group's economic model is a commission-sharing structure layered on top of a centralized, low-overhead platform. This is how they scale: they acquire an agency's book of business, then immediately apply their InsurTech solution to reduce the acquired agency's operating costs and increase its sales efficiency.

• Commission Model: The company and its agency partners earn commissions from insurance carriers, typically ranging from 2% to 8% of the policy premium, depending on the line of business and state regulations.
• Agent Split: The RELI Exchange platform often operates on a tiered commission structure, which includes a split of the commission with the agent. This tiered approach is designed to incentivize agents to sell higher-premium policies, which in turn increases the company's gross commission income.
• Cost Control: The 'OneFirm' strategy unifies back-office operations, allowing acquired agencies to eliminate overhead costs like physical office space and staff salaries, which lowers the overall commission expense as a percentage of revenue over time.
• New Revenue Streams: The launch of RELI Auto Leasing in Q1 2025 is a smart move. It allows agents to earn a commission on both the vehicle lease and the bundled insurance policy, opening a new, high-margin revenue channel that leverages the existing agent network.

Reliance Global Group, Inc.'s Financial Performance

As of November 2025, the financial picture is one of strategic restructuring, with improved liquidity but still a net loss. The focus is on deleveraging the balance sheet and improving operational efficiency, which is defintely a necessary step for sustainable growth.

• Revenue: Trailing Twelve Months (TTM) revenue as of September 30, 2025, stood at approximately $13.12 million. This figure reflects the initial impact of the Fortman divestiture, which reduced commission income in Q3 2025 to $2.5 million.
• Profitability: Net loss for Q2 2025 was $2.7 million, but the company did achieve an Adjusted EBITDA (AEBITDA) gain of $145,407 in Q1 2025, a massive 297% improvement year-over-year, demonstrating core operational efficiency gains before non-cash expenses.
• Balance Sheet Strength: The company made a major move in Q2/Q3 2025, reducing its long-term debt by $5.6 million, which is roughly 50% of its total long-term debt. This action is expected to cut annual debt service by over $1.8 million, significantly improving future cash flow.
• Liquidity: Unrestricted cash increased approximately 590% to $2.6 million in Q3 2025 compared to the prior fiscal year-end, a direct result of the asset sale and disciplined management.

For a deeper dive into the metrics driving this turnaround, you should read Breaking Down Reliance Global Group, Inc. (RELI) Financial Health: Key Insights for Investors.

Reliance Global Group, Inc. (RELI) Market Position & Future Outlook

Reliance Global Group is aggressively repositioning itself from a traditional insurance agency holding company to a focused InsurTech pioneer, a move that has temporarily reduced commission income but significantly strengthened its balance sheet for future growth. The company's future hinges on the successful scaling of its technology platform and the execution of its unique Digital Asset Treasury strategy.

The strategic sale of its Fortman Insurance Services subsidiary, completed in Q3 2025, generated an approximate $3.0 million gain, allowing Reliance Global Group to reduce its long-term debt by roughly 50% and boost unrestricted cash to about $2.6 million. This financial cleanup provides the capital foundation to invest in its core technology platform, RELI Exchange, and its new blockchain initiatives.

Competitive Landscape

In the expansive US insurance distribution market, Reliance Global Group operates as a small-cap InsurTech player, competing against much larger, established digital and franchise models. To put the scale into perspective, the company's Trailing Twelve Months (TTM) revenue as of Q3 2025 was approximately $13.12 million, a fraction of its primary competitors' revenues.

Note: The Market Share % above is a relative calculation based on the combined TTM revenue of the three companies to illustrate the vast scale difference, not a percentage of the total US insurance market.

Opportunities & Challenges

The company's pivot to technology and digital assets presents a high-risk, high-reward profile. The core opportunity lies in integrating blockchain technology into insurance, while the main challenge remains achieving sustained profitability and scale in a highly competitive sector.

Industry Position

Reliance Global Group, Inc. is positioned as a niche, transforming InsurTech company, a micro-cap player in a multi-billion-dollar industry. Its strategy is no longer solely focused on organic growth through traditional agency acquisitions, but rather on technological differentiation.

• The company is an InsurTech pioneer, leveraging artificial intelligence (AI) and cloud-based technologies to enhance efficiencies for independent agencies through its RELI Exchange platform. [cite: 12, 17 in initial search]
• Its size, with a market capitalization of approximately $7.36 million as of November 2025, places it in the high-risk, high-growth speculation category, especially with the new digital asset focus. [cite: 19 in initial search]
• The recent special cash dividend of $0.03 per share, payable in December 2025, signals a commitment to shareholder return, a notable action for a small company in a transition phase. [cite: 3 in initial search]
• The appointment of a Crypto Advisory Board Chairman in November 2025 underscores a serious, albeit defintely non-traditional, commitment to the digital asset space for capital management and potential product innovation. [cite: 5 in initial search]

To understand the full context of this strategic shift, you should review the company's foundational principles: Mission Statement, Vision, & Core Values of Reliance Global Group, Inc. (RELI).