Reliance Global Group to Sell Non-Core Subsidiaries to Focus on Tech-Driven Growth
Written by Emily J. Thompson, Senior Investment Analyst
Source: Globenewswire
Updated: 1 hour ago0mins
- Strategic Transformation: Reliance Global Group announced its intention to sell its non-core subsidiaries, EBS, located in Cadillac, Michigan, with an expected closing within 30 days, aiming to monetize non-core assets to strengthen its financial foundation and focus on technology-driven growth.
- Capital Structure Optimization: The company plans to allocate 50% of the net proceeds from the transaction to debt reduction, thereby improving its capital structure and enhancing its ability to execute on future growth opportunities, reflecting a strong commitment to financial stability.
- Business Development Investment: The remaining proceeds will support business development initiatives for RELI Exchange and 5minuteinsure.com, two platforms poised to redefine agent-consumer interactions in the insurance market, further enhancing the company's competitive positioning.
- Long-Term Value Commitment: Through this transaction, Reliance emphasizes its commitment to delivering sustainable long-term value, aiming to accelerate its transformation into a leading InsurTech platform by increasing investments in core technology initiatives.
RELI.O
$0.0000%Past 6 months
Line
|
Candle
1D
5D
1M
3M
6M
YTD
1Y
5Y
No Data
Powered By
Intellectia
Analyst Views on RELI
About RELI
Reliance Global Group Inc operates as a holding company with diversified interests in the insurance market, as well as other related sectors. It focuses on growing by pursuing acquisition strategies and focused on wholesale and retail insurance agencies. Its business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with an entire suite of business development tools. Its business-to-consumer platform, 5minuteinsure.com (5MI), utilizes artificial intelligence and data mining to provide online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. It has added Ethereum to its financial holdings. It focuses on identifying specific risk to reward arbitrage opportunities and developing these on a national platform, and identifying and acquiring undervalued wholesale and retail insurance agencies with operations in growing or underserved segments. It owns Solana, the native token of the Solana blockchain.
About the author
Preview
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Sigh Up to Get Intellectia Insights
Why did Reliance Global Group increase its investment in Zcash?
What technological features of Zcash make it appealing to Reliance Global Group?
How might Reliance's increased Zcash position impact its digital asset strategy?
Will Zcash's privacy features help Reliance gain a competitive advantage?