{"id":740656,"date":"2023-03-16T08:06:08","date_gmt":"2023-03-16T12:06:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/"},"modified":"2023-03-16T08:06:08","modified_gmt":"2023-03-16T12:06:08","slug":"reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/","title":{"rendered":"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022"},"content":{"rendered":"<div class=\"mw_release\">\n<p>LAKEWOOD, N.J., March  16, 2023  (GLOBE NEWSWIRE) &#8212; <strong>Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) <\/strong>(\u201cReliance\u201d, \u201cwe\u201d or the \u201cCompany\u201d), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided preliminary revenue guidance for the 2022 fiscal year. The Company currently projects revenue for the 2022 fiscal year of more than $16.5 million, an increase of greater than 70% compared to 2021.<\/p>\n<p>Mr. Ezra Beyman, Chairman and CEO of Reliance commented, \u201cI am pleased to report that we are projecting more than a 70% increase in 2022 revenue. We attribute this success to the collective performance of our operating subsidiaries, including Barra &amp; Associates, which we acquired in April 2022 and subsequently rebranded as RELI Exchange. Moreover, 2022 was a transformative year with the successful rollout of our RELI Exchange InsurTech platform. Our team has worked diligently to ensure that RELI Exchange is delivering real value to our agency partners and their customers. We are gratified to see that this effort is paying off, as illustrated by the rapid growth in agency partners.\u00a0 Moreover, we are excited about the future of the business as we continue to expand and enhance our offerings.\u00a0 Looking ahead to 2023, we expect RELI Exchange will be a key driver of organic growth.\u00a0 Additionally, we believe we have built a highly scalable business model that will drive profits and shareholder value in the years ahead.\u201d<\/p>\n<p>\n        <strong>About Reliance Global Group, Inc.<\/strong>\n      <\/p>\n<p>Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) an InsurTech pioneer, is working to transform the traditional insurance agency model by combining artificial intelligence (AI) with the personalized experience of a traditional insurance agency model. Reliance Global Group\u2019s growth strategy includes the organic expansion of its current portfolio of agencies owned in addition to the growth of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=q9KrnaLW58ZF3sV8eEh22BaY5JumWjPyeAbkhg-Ms5Jr6Z537YhpRWLM-DLVmSPtZ25R4NNmFkMBD0ewoWA1m7UoG2hpMhWLW5NstcJq46I=\" rel=\"nofollow noopener\" target=\"_blank\"><u>5MinuteInsure.com<\/u><\/a>, its online business-to-consumer platform that utilizes artificial intelligence and data mining, to provide competitive insurance quotes within 5 minutes, and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Ia8fhi4Tfp9WMEdv9NI93Qvvkpbxz_0Cx1WuyzVwjabiLee5vgYDBk1kvHGz_27B82TPgEKxgt_nN1PR_3KP5w==\" rel=\"nofollow noopener\" target=\"_blank\"><u>RELI Exchange<\/u><\/a>, its B2B InsurTech platform and agency partner network for insurance agents and agencies, designed to give independent agents an entire suite of business development tools and the ability to effectively compete with national agencies. Additional information about the Company is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yTuOVpuk_5J7bca599SxTvy6rcipPR-P0e8u54u0BI2nMsKREfb0m21yK3lUyA6GMqsxNgQW3ypSrn2BWI9grj_3QRc5hFDxAsvF0YR5ZjnEfvsns_GL5nGJzJYApRd6\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/www.relianceglobalgroup.com\/<\/u><\/a>.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p>\n        <em>This press release contains forward-looking statements within the meaning of the \u201csafe harbor\u201d 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 \u201cmay,\u201d \u201cshould,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d and similar expressions and include statements such as the Company having built a best-in-class InsurTech platform, making RELI Exchange an even more compelling value proposition and further accelerating growth of the platform, rolling out several other services in the near future to RELI Exchange agency partners, building RELI Exchange into the largest agency partner network in the U.S., the Company moving in the right direction and the Company\u2019s highly scalable business model driving significant shareholder value. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere and risk as and uncertainties related to: the Company\u2019s ability to generate the revenue anticipated and the ability to build the RELI Exchange into the largest agency partner network in the U.S., and the other factors described in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, the Company\u2019s Quarterly Reports on Form 10-Q, the Company\u2019s recent Current Reports on Form 8-K and subsequent filings with the Securities and Exchange Commission. 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.<\/em>\n      <\/p>\n<p>\n        <strong>Contact:<\/strong>\n      <\/p>\n<p>Crescendo Communications, LLC<br \/>Tel: +1 (212) 671-1020<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2y917xClbPmumWEBxs1sAcrQBIMi5FmQn_mtmOW-eTlLuq-8C2m_K0fUfMS-K3uxYks8KUdN8rPSH7LJc2F9pkpDJp79tYHpfve4X_nf3Ec=\" rel=\"nofollow noopener\" target=\"_blank\"><u>RELI@crescendo-ir.com<\/u><\/a><\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTI4NCM1NDY0NzQ1IzUwMDEwOTQzNA==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/Y2Y4MzU2ZDQtZjE0MS00NjQxLTliM2ItNGJjNWM3ZGM2YTBiLTUwMDEwOTQzNA==\/tiny\/Reliance-Global-Group-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LAKEWOOD, N.J., March 16, 2023 (GLOBE NEWSWIRE) &#8212; Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (\u201cReliance\u201d, \u201cwe\u201d or the \u201cCompany\u201d), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided preliminary revenue guidance for the 2022 fiscal year. The Company currently projects revenue for the 2022 fiscal year of more than $16.5 million, an increase of greater than 70% compared to 2021. Mr. Ezra Beyman, Chairman and CEO of Reliance commented, \u201cI am pleased to report that we are projecting more than a 70% increase in 2022 revenue. We attribute this success to the collective performance of our operating subsidiaries, including Barra &amp; Associates, which we acquired in April 2022 and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-740656","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LAKEWOOD, N.J., March 16, 2023 (GLOBE NEWSWIRE) &#8212; Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (\u201cReliance\u201d, \u201cwe\u201d or the \u201cCompany\u201d), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided preliminary revenue guidance for the 2022 fiscal year. The Company currently projects revenue for the 2022 fiscal year of more than $16.5 million, an increase of greater than 70% compared to 2021. Mr. Ezra Beyman, Chairman and CEO of Reliance commented, \u201cI am pleased to report that we are projecting more than a 70% increase in 2022 revenue. We attribute this success to the collective performance of our operating subsidiaries, including Barra &amp; Associates, which we acquired in April 2022 and &hellip; Continue reading &quot;Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-16T12:06:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTI4NCM1NDY0NzQ1IzUwMDEwOTQzNA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022\",\"datePublished\":\"2023-03-16T12:06:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\\\/\"},\"wordCount\":736,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODc4OTI4NCM1NDY0NzQ1IzUwMDEwOTQzNA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\\\/\",\"name\":\"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/","og_locale":"en_US","og_type":"article","og_title":"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022 - Market Newsdesk","og_description":"LAKEWOOD, N.J., March 16, 2023 (GLOBE NEWSWIRE) &#8212; Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (\u201cReliance\u201d, \u201cwe\u201d or the \u201cCompany\u201d), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided preliminary revenue guidance for the 2022 fiscal year. The Company currently projects revenue for the 2022 fiscal year of more than $16.5 million, an increase of greater than 70% compared to 2021. Mr. Ezra Beyman, Chairman and CEO of Reliance commented, \u201cI am pleased to report that we are projecting more than a 70% increase in 2022 revenue. We attribute this success to the collective performance of our operating subsidiaries, including Barra &amp; Associates, which we acquired in April 2022 and &hellip; Continue reading \"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/","og_site_name":"Market Newsdesk","article_published_time":"2023-03-16T12:06:08+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTI4NCM1NDY0NzQ1IzUwMDEwOTQzNA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022","datePublished":"2023-03-16T12:06:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/"},"wordCount":736,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTI4NCM1NDY0NzQ1IzUwMDEwOTQzNA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/reliance-global-group-projects-strong-revenue-growth-of-more-than-70-for-fiscal-2022\/","name":"Reliance Global Group Projects Strong Revenue Growth of More Than 70% for Fiscal 2022 - 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