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Reliance Global Group Inc (NASDAQ: RELI) |
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Description of Reliance Global Group Inc's Business Segments
Reliance Global Group Inc. is a diversified holding company primarily engaged in the insurance sector, operating through various subsidiaries that cater to a wide array of financial protection and asset management needs. Below is a comprehensive overview of the company's segments, products, and services.
Segments
1. Insurance: The core segment of Reliance Global Group focuses on the provision of diverse insurance products. This includes life, health, and property and casualty insurance, serving both individual and commercial clients.
2. Insurance Brokerage: This segment involves acting as intermediaries between clients and insurance carriers, helping clients navigate and select from a range of insurance options tailored to their unique requirements.
3. Real Estate Services: In line with its growth strategy, the company has diversified into real estate services, encompassing property management, sales, and investment consulting.
4. Mortgage Services: This involves helping clients secure financing through various mortgage products, including home loans and refinancing options.
5. Insurance Technology: As a response to industry shifts, Reliance Global Group invests in tech-driven solutions to enhance operational efficiency and customer experience within the insurance space.
Products and Services
1. Life Insurance:
- Term Life Insurance: Provides coverage for a specified period, offering financial protection to beneficiaries upon the policyholders death within the term.
- Whole Life Insurance: Offers lifelong coverage with a cash value component that grows over time, providing both protection and an investment vehicle.
- Universal Life Insurance: A flexible premium, adjustable benefit policy that combines insurance coverage with an investment savings element.
2. Health Insurance:
- Individual Health Insurance: Tailored plans designed to cover medical expenses for individuals based on their health needs.
- Group Health Insurance: Provided through employers, covering groups of people, which can lower costs for participants.
- Medicare Plans: Supplemental insurance products that help cover costs not included in traditional Medicare coverage.
- Medicaid Services: Programs designed to assist low-income individuals and families with healthcare coverage.
3. Property and Casualty Insurance:
- Homeowners Insurance: Coverage that protects homeowners from damages to their property and liability for injuries sustained on their premises.
- Renters Insurance: Similar to homeowners insurance but tailored for tenants, covering personal property against theft or damage.
- Auto Insurance: Protection against financial loss from accidents involving vehicles, covering both damage to the vehicle and liability for injuries to others.
- Commercial Insurance: A suite of products designed for business properties, including liability, property damage, and workers compensation.
4. Investment and Retirement Products:
- Annuities: Investment products providing a steady income stream during retirement, with various types available, such as fixed and variable annuities.
- Mutual Funds: Investment vehicles that pool funds from multiple investors to purchase a diversified portfolio of stocks and bonds.
- Retirement Savings Plans: Options designed to help employees save for retirement through employer-sponsored plans, such as 401(k)s.
5. Insurance Brokerage Services:
- Personalized advisory services that guide clients through the insurance selection process, ensuring they find coverage that fits their needs and budget.
- Policy Negotiation: Acting on clients' behalf to negotiate better terms and rates with insurance carriers.
6. Real Estate Services:
- Residential and Commercial Real Estate Sales: Facilitating transactions for buying and selling both residential and commercial properties.
- Property Management: Comprehensive services for managing rental properties, including tenant relations, maintenance, and financial reporting.
- Real Estate Investment Consulting: Advising clients on investment opportunities in real estate, including market analysis and property valuation.
Mortgage Services:
- Assistance with securing home loans tailored to individual financial circumstances.
- Refinancing Options: Helping existing homeowners reduce their monthly payments or access equity through competitive refinancing solutions.
8. Insurance Technology:
- Development of innovative technology solutions that streamline insurance operations, enhance customer engagement, and improve data management.
- Implementation of digital tools to facilitate easier claims processing and policy management for clients.
Overall, Reliance Global Group Inc. continues to adapt and grow its portfolio of services, responding to the dynamic demands of the insurance market and related sectors. The range of products and services not only addresses fundamental insurance needs but also incorporates investment and real estate solutions to provide a comprehensive financial service package.
Composition of Reliance Global Group Inc Revenues by
Segments |
Q3 three months ended (Sep 30 2024)
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| Revenues by Business Segments |
Revenues
(in millions $) |
%
(of total Revenues) |
| Total |
3.44 |
100 % |
Q3 three months ended (Sep 30 2024)
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| Revenue Growth rates by Segment |
Y/Y Revenue
% |
Q/Q Revenue
% |
| Total |
- |
6.44 % |
Q3 three months ended (Sep 30 2024)
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| Income by Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Total |
-0.84 |
- |
Q3 three months ended (Sep 30 2024)
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| Income Growth rates by Segment |
Y/Y Income
% |
Q/Q Income
% |
| Total |
- |
- |
Annual Report on Reliance Global Group Inc Divisions, Sales by Country |
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| Medical Regular |
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 74.26 % |
of total Revenue |
| Life Regular |
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1.22 % |
of total Revenue |
| Property and Casualty Regular |
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24.52 % |
of total Revenue |
| Insurance Segment |
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100 % |
of total Revenue |
Twelve months ended 2024
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| RELI s Annual Revenue by Geography and Business Segments |
Sales
(in millions $) |
%
(of total Sales) |
| Total |
14.05 |
100 % |
| Medical Regular |
10.44 |
74.26 % |
| Life Regular |
0.17 |
1.22 % |
| Property and Casualty Regular |
3.45 |
24.52 % |
| Insurance Segment |
14.05 |
100 % |
Twelve months ended 2024
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| RELI s Annual Income by Country and Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Total |
-9.07 |
- |
| Insurance Segment |
-9.07 |
- |
Twelve months ended 2024
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| Annual Revenue and Income Growth by Country and Business Segments |
% Y/Y Sales Growth |
% Y/Y Income Growth |
| Medical Regular |
-3.59 % |
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| Life Regular |
0.7 % |
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| Property and Casualty Regular |
25.96 % |
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| Insurance Segment |
2.35 % |
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