Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), 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, “I 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 & 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. Moreover, we are excited about the future of the business as we continue to expand and enhance our offerings. Looking ahead to 2023, we expect RELI Exchange will be a key driver of organic growth. Additionally, we believe we have built a highly scalable business model that will drive profits and shareholder value in the years ahead.”