Reliance Global Group Reports 2024 Financial Results, Plans Expansion

Reliance Global Group, Inc. recently released its annual 10-K report, highlighting a significant reduction in total operating expenses by 21% to $21.75 million and an improved net loss of $9.07 million, down 24% from the previous year. The company reported a notable improvement in Adjusted EBITDA loss, which decreased by 39%, reflecting enhanced operational performance and cost management. Reliance's aggressive acquisition strategy has resulted in nine insurance agency acquisitions, with plans for further expansion through mergers and acquisitions. The company has developed several InsurTech platforms, including the RELI Exchange and 5MinuteInsure.com, which leverage AI to streamline operations and enhance efficiency. A conference call scheduled for March 6, 2025, will provide additional insights into the company's financial results and strategic direction. Overall, Reliance is focused on leveraging technology to improve its insurance offerings and operational capabilities.