Reliance Global Group Completes Audit of Fortman Insurance Agency

LAKEWOOD, NJ, March 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTCQB: RELI) ("RELI" or the "Company"), today reported that the Company has completed the audit of its wholly owned Fortman Insurance Agency subsidiary (“Fortman”).  The 2017 and 2018 financial results for Fortman Insurance, which precede the acquisition by Reliance, will be posted on the Company’s website.  The 2019 results will be included in the consolidated financials within the Company’s Form 10-K, which is expected to be filed shortly. 

Ezra Beyman, CEO of Reliance Global Group, stated, “We are delivering on our promise by completing the audits for each of our subsidiaries.  We are near completion of the audits for the final remaining subsidiary.  Upon completion of each of the audits, we will file our Form 10-K to become fully reporting with the Securities and Exchange Commission.  Despite the current havoc in the markets, our insurance agencies are performing well and we are starting to see a more favorable real estate market, which we believe will allow us to take advantage of opportunistic acquisitions.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" 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. 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. 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.

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