Reliance Global Group tops Nasdaq index on acquiring health insurance agency

Reliance Global

13/05/2021 15:17

** Shares of insurance REIT  RELI.O  surge 46.1% to $4.31,
topping the Nasdaq composite index  .IXIC 
    ** Co acquires privately held healthcare insurance agency
J.P. Kush and Associates Inc for $1.95 mln through a combination
of cash, restricted stock and an earnout  urn:newsml:reuters.com:*:nGNX2jhC1P
    ** J.P. Kush's founder, Joshua Kushnereit, to become COO of
the new Kush Benefits Solutions LLC, which is now a wholly owned
subsidiary of RELI
    ** J.P. Kush generated revenue of more than $1.1 mln over
trailing twelve months with mid-double digit operating margins
and adds over 100 independent agents to RELI's agency network
across the United States
    ** Shares down 54.1% for the year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))