Reliance Global Group Completes Sale of Altruis Benefit Consulting

LAKEWOOD, NJ, Oct. 01, 2026 /CourierPR/ -- Reliance Global Group, Inc. has completed the sale of its Altruis Benefit Consulting subsidiary, a Michigan-based health insurance agency and benefits consulting business, for a cash purchase price of $8 million, plus an earnout of up to $1 million that may be earned over the next three years. The deal, which closed on September 23, 2026, is part of the company's ongoing portfolio monetization strategy aimed at unlocking value and accelerating its transformation into a technology-driven InsurTech company.

The Altruis sale follows the company's previous sale of Southwestern Montana Insurance Center, which closed on September 11, 2026. These transactions are part of Reliance's broader strategy to selectively monetize non-core insurance agency assets and redeploy capital into its proprietary AI platform, RELI Exchange, and other strategic growth initiatives.

According to the press release, Reliance has received approximately $7.5 million in cash from the Altruis sale, including the payment in full of a $3.1 million secured promissory note delivered by the buyer at closing. The remaining balance of $461,729 is being held by the buyer as customary indemnity and working capital holdbacks. The company may earn up to $1 million in earnout payments over the next three years, contingent on the annual revenue growth of the acquired business.

The company's portfolio monetization strategy involves the selective sale of mature insurance distribution assets to unlock value and enhance its financial flexibility. By redeploying capital into its AI platform and other strategic growth initiatives, Reliance aims to drive long-term shareholder value. The Altruis sale provides the company with an $8 million cash purchase price without the issuance of any shares of Reliance common stock.

Reliance Global Group, Inc. is an InsurTech company leveraging artificial intelligence, cloud computing, and advanced technologies to transform the insurance agency/brokerage industry. Through its growing portfolio of proprietary AI solutions and insurance operations, the company is focused on enhancing operational efficiency, improving customer experiences, and creating long-term shareholder value.

Forward-looking statements in this press release include, without limitation, the amount, timing, and payment of the earnout consideration, if any; the release of the indemnity and working capital holdbacks; any post-closing purchase price or working capital adjustments; the anticipated benefits of the completed sale of Altruis; the company's use of proceeds and the anticipated effects of the transaction on the company's cash position, capital structure, and financial flexibility; the company's portfolio monetization strategy, including the monetization of mature insurance distribution assets and the redeployment of capital; and the continued development, deployment, and potential commercialization of the company's proprietary artificial intelligence platform and its RELI Exchange InsurTech platform.

These statements are based on management's current expectations and assumptions and are subject to risks, uncertainties, and other factors, many of which are beyond the company's control. Readers are cautioned not to place undue reliance on forward-looking statements.