Reliance Global Soars 31.8% on Fortman Insurance Sale

Reliance Global's stock surged by 31.8% in pre-market trading on June 18, 2025, marking a significant rise that has caught the attention of investors and analysts alike.

Reliance Global Group has announced a strategic move to sell its Fortman Insurance Agency subsidiary for $5 million in cash. This transaction represents a premium over the original acquisition price and is aimed at funding the company's planned acquisition of Spetner Associates, a growing insurance platform. The sale of Fortman Insurance is part of Reliance's broader strategy to optimize its portfolio and enhance shareholder value through transformative growth opportunities.

CEO Ezra Beyman highlighted that this sale demonstrates Reliance's ability to acquire, improve, and monetize assets effectively. The proceeds from the sale will strengthen the company's cash position, enabling it to pursue the Spetner Associates acquisition, which is expected to be highly accretive and generate stronger cash flow.

The strategic rationale behind this move is clear: Reliance aims to reallocate capital to support its growth initiatives and enhance its market presence. The sale of Fortman Insurance, coupled with the planned acquisition of Spetner Associates, aligns with the company's "OneFirm" strategy, which focuses on portfolio optimization and value creation.