The Reliance Global Group announced the complete acquisition of Medigap Health Insurance Co. Total consideration for Medigap Health Insurance was $20.1 million in a cash and stock exchange deal. With the acquisition, Reliance Global Group’s revenue increases by 70% and their presence across geographies increases too. Medigap had in the previous 12 months earned $7 million in revenues. The acquisition is expected to close during the first quarter of 2022.
Medigap is an insurance brokerage venture that deals in 47 USA states. Headquartered in Florida, they specialise in Medicare supplement insurance. They are one of the fastest-growing providers of Medicare supplemental insurance coverage in the USA.
Reliance Global Group works in the acquisition and management of insurance ventures in the USA. They are an insurtech company that is combining personalised experience with advanced technologies. They have ventures like 5MinuteInsure.com, Nsure.com, J.P. Kush & Associates, Commercial Coverage Solutions LLC, Employee Benefits Solutions LLC, altruis and other ventures under its belt. The company CEO and Chairman is Ezra Beyman. Reliance Global Group last year was working on the expansion of 5MinuteInsure.com in different states in the USA including North Carolina, South Carolina, West Virginia, Missouri, Alabama and more.