Lakewood-based “insurtech” company Reliance Global Group Inc. has acquired a health care insurance agency based in Michigan, it announced Thursday.
The deal for J.P. Kush and Associates Inc. adds more than 100 independent agents to the Reliance network. Founder Joshua Kushnereit will become chief operating officer of a new Reliance subsidiary, Kush Benefits Solutions LLC.
“We are delighted to announce the acquisition of J.P. Kush, which brings an extensive network of over 100 independent agents across 10 states and expands our expertise in the health insurance marketplace,” Reliance CEO Ezra Beyman said in a prepared statement. “Importantly, this acquisition is consistent with our strategy of acquiring growing, cash flow-positive agencies at attractive multiples, where the founders are incentivized to support the long-term growth of the company.”
Financial terms were not disclosed.