Reliance Global Group Announces Formation of New Real Estate Division Aimed at Expanding Operations

LAKEWOOD, N.J., July 01, 2024 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) today announced the formation of a new Real Estate division drawing on Ezra Beyman’s extensive background in building the third-largest mortgage brokerage in the nation and accumulating a multi-billion-dollar portfolio of multi-family properties. Furthermore, Abe Miller, successful real estate investor and M&A executive, has agreed to join Reliance to oversee this new division and advise on future real estate transactions. Mr. Miller will receive no fixed salary for his services; rather, he will be compensated entirely on a success-based model. The new division is intended to supplement, and not replace, the Company’s focus on acquiring accretive and cash flow positive insurance agencies.

Ezra Beyman, CEO of Reliance, commented, “We are excited to launch a significant initiative—a new division within Reliance dedicated to the acquisition and development of multi-family and commercial real estate properties. We are also pleased to announce that Abe Miller will be joining the Company to head this division and provide strategic guidance on our future real estate endeavors. Abe’s remarkable track record, including his successful creation of a $3 billion real estate portfolio through strategic acquisitions, not only showcases his ability to enhance asset value but also his skill in navigating complex market dynamics to generate substantial investment returns. Having previously worked with Abe, I have firsthand experience of the immense value his insights contribute. We look forward to him leading this latest endeavor as we continue to drive Reliance forward as a leading, technology-focused firm committed to sustainable profitability and increasing shareholder value. With Abe’s extensive experience and strategic visions, we are confident this initiative will accelerate our progress toward achieving our objectives.”

“We anticipate that the new real estate division, set to launch following the closing of the Spetner acquisition, will align perfectly with our ongoing strategy focused on accretive and cash flow positive acquisitions—a realm where we have a proven track record of successful integration, particularly in the insurance brokerage sector. Additionally, we expect that this division will broaden our Company’s portfolio by diversifying into multiple business lines and asset categories. Through this expansion into real estate, Reliance will be positioned to leverage non-dilutive financing sources, supported by both the intrinsic value of the assets and our operational cash flows. We are confident that this strategy will not only contribute significantly to our growth but also greatly enhance shareholder value.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform,, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at