Reliance Global Group, Inc. (RELI) stock plunged 10.43% in the after-market trading session at the price of $1.89 after it announced the promotion of Jonathan Fortman to Vice President of Acquisitions.
Reliance Global Group consists of advanced technologies with the personalized experience of a conventional insurance agency model. RELI’s growth strategy includes procuring undervalued, well-managed, and cash flow positive insurance agencies.
Jonathan Fortman Promoted to Vice President
On 22nd November 2021, RELI published that it had promoted Jonathan Fortman to Vice President of Acquisitions for Reliance Global Group. He will report directly to Chairman and CEO, Mr. Ezra Beyman. He was earlier serving as Chief Operating Officer at its subsidiary, Fortman Insurance Services. Mr. Jonathan joined Reliance Global Group in 2019 when the company procured Fortman Insurance Services. He joined Fortman Insurance Services in 2003 and had eventually appointed as COO in 2019. Mr. Fortman received his bachelor’s degree in Economics from Bowling Green State University.
Management Comments
Chairman and Chief Executive Officer of RELI, Ezra Beyman, remarked that they were happy to publish the promotion of Jonathan to Vice President of Acquisitions. Mr. Jonathan brought extensive industry associations and a deep understanding of the sector. Jonathan has been efficient in assessing various acquisition targets, and they look forward to fully leveraging the width of his experience. The company is now expediting its focus on procuring accretive insurance agencies. It is actively assessing targets that could have a meaningful impact on its business. Such acquisitions would advance the company’s strategy of becoming the best ‘clicks and bricks’ insurance firm, Mr. Ezra added.
RELI Announced Launch of 5MinuteInsure.com
On 18th November 2021, RELI published the successful launch of 5MinuteInsure.com in South Carolina. 5MinuteInsure.com is formulated by Reliance Global which offers a simple and effective way to purchase insurance. The program presents competitive insurance quotes within 2 minutes with the capacity to bind coverage in 5 minutes. Customers can compare live quotes for auto insurance among multiple carriers and purchase coverage on the same platform.
Ezra Beyman remarked that following this launch, they are now available in 8 different states. They encourage clients to visit 5MinuteInsure.com, a fast and easy way to save money on insurance.
