--- title: Brokerage insurtech Reliance Global to sell Fortman agency for $5 million description: "\"Discover the latest developments in the insurtech industry as Reliance Global Group announces the sale of its Fortman Insurance Agency for $5 million and withdraws a share offering. Find out the implications for stakeholders and the market context. Read more here.\"" image: https://insnerds.com/hubfs/News%20Feed%20Featured%20Image.jpg --- 1 min read # Brokerage insurtech Reliance Global to sell Fortman agency for $5 million [![Picture of Insurance Nerds Editorial Team](https://insnerds.com/hubfs/insurance_nerds_logo.png) Insurance Nerds Editorial Team ](https://insnerds.com/news/author/insurance-nerds-editorial-team) : Jun 17, 2025 7:45:53 PM ![Brokerage insurtech Reliance Global to sell Fortman agency for $5 million](https://insnerds.com/hubfs/News%20Feed%20Featured%20Image.jpg) ## Reliance Global Group to Sell Fortman Insurance Agency ### Overview of the Deal Reliance Global Group, an insurtech company listed on Nasdaq, has announced its decision to sell its Fortman Insurance Agency subsidiary for a total of $5 million in cash. This move comes amidst a strategic shift within the company, suggesting a reevaluation of its current assets and direction. ### Withdrawal of Share Offering Alongside the sale of Fortman Insurance Agency, Reliance has also opted to withdraw a previous share offering. The company filed a request to cancel its Form S-1, which had been initially submitted on January 10, 2025. This step indicates a potential pivot in Reliance’s financial strategy, as they reconsider their approach to equity financing. ### Implications for Stakeholders This transaction may have several implications for various stakeholders. For Reliance Global Group, divesting the Fortman Insurance Agency signals a focused approach towards optimizing its portfolio. Investors might view the sale positively if it leads to more streamlined operations and a clearer strategic vision. Meanwhile, current employees of Fortman Insurance Agency could experience changes depending on the plans of the new ownership. ### Market Context The sale reflects broader trends in the insurance industry, where insurtech companies often reassess their structures to respond to market demands and operational efficiency. As Reliance Global Group continues to navigate this landscape, the decision to sell its subsidiary may be a prudent adjustment in a competitive environment. Overall, while this deal marks a significant transaction for Reliance, it also emphasizes the ongoing shifts within the insurtech sector. **Original Source:** [https://www.tradingview.com/news/reuters.com,2025:newsml_L6N3SK0Z3:0-brokerage-insurtech-reliance-global-to-sell-fortman-agency-for-5-million/](https://www.tradingview.com/news/reuters.com,2025:newsml_L6N3SK0Z3:0-brokerage-insurtech-reliance-global-to-sell-fortman-agency-for-5-million/) - [Tweet](https://twitter.com/share) [![Markel rolls out new insurance product for insurtech companies](https://insnerds.com/hubfs/News%20Feed%20Featured%20Image.jpg) ](https://insnerds.com/news/markel-rolls-out-new-insurance-product-for-insurtech-companies) #### [Markel rolls out new insurance product for insurtech companies](https://insnerds.com/news/markel-rolls-out-new-insurance-product-for-insurtech-companies) ![Picture of Insurance Nerds Editorial Team](https://insnerds.com/hs-fs/hubfs/insurance_nerds_logo.png?width=30&name=insurance_nerds_logo.png) [Insurance Nerds Editorial Team](https://insnerds.com/news/author/insurance-nerds-editorial-team) : Jun 12, 2025 8:56:05 AM Markel Insurance Introduces InsurtechRisk+ Markel Insurance has announced the launch of a new insurance product called InsurtechRisk+, specifically... 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[Read More](https://insnerds.com/news/weecover-makes-case-for-modular-ai-in-insurance) ![](https://px.ads.linkedin.com/collect/?pid=7110236&fmt=gif) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Insurance Nerds Editorial Team", "url" : "https://insnerds.com/news/author/insurance-nerds-editorial-team" }, "datePublished" : "2025-06-17T23:45:53.000Z", "headline" : "Brokerage insurtech Reliance Global to sell Fortman agency for $5 million", "image" : [ "https://insnerds.com/hubfs/News%20Feed%20Featured%20Image.jpg" ], "mainEntityOfPage" : { "@id" : "https://insnerds.com/news/brokerage-insurtech-reliance-global-sell-fortman-agency-5-million", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://insnerds.com/hubfs/InsNerds%20Large%20print%20quality.png" }, "name" : "Insurance Nerds" } } ```