Market Overview - The second quarter saw significant volatility for small and mid-cap (SMID) stocks, with the Russell 2500 Index returning 8.6%, while the Russell 2000 Index matched this but lagged behind the Russell 1000 Index's return of 11.1% [2] - The Russell 2500 Growth Index outperformed the Value Index, returning 11.3%, indicating a preference for growth stocks during this period [2] Economic and Market Sentiment - Recent months have been characterized by reversals in trade policy and legislative priorities, with the market adapting to trade threats and pricing in more favorable outcomes [3] - Macroeconomic indicators such as unemployment, inflation, and spending trends remain stable, suggesting manageable operating conditions for businesses and consumers [4] Sector Performance - The ClearBridge SMID Growth Strategy outperformed its benchmark due to strong contributions from the health care and consumer staples sectors [5] - In health care, companies like Insmed saw stock price increases due to positive clinical results and improved earnings estimates [5] - Insulet, a medical device company, also performed well, driven by strong earnings and product launches [6] - Consumer staples companies like e.l.f. Beauty and Casey's General Stores benefited from strategic acquisitions and reinvestments, respectively [7] Detractors and Challenges - The information technology sector was a significant detractor, with companies like Wix.com and Globant facing challenges due to uneven demand [8] - The exit from Ashland was due to persistent headwinds and management turnover, impacting long-term confidence [11] Portfolio Positioning and Transactions - New positions were initiated in Ryan Specialty Holdings and Duolingo, both showing strong growth potential in their respective markets [9][10] - The portfolio also saw exits from several positions, including Ashland and Tradeweb Markets, reflecting a strategic shift in response to market conditions [11][19] Outlook - Despite recent market performance, there remains uncertainty regarding macroeconomic policies and geopolitical factors, with a focus on companies with unique growth drivers [12] - The potential for faster earnings growth in SMID stocks is highlighted, suggesting a favorable outlook for this segment [12]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against SelectQuote, Inc. due to allegations of violations of federal securities laws related to misleading statements and illegal kickbacks [4][6][7] Group 1: Allegations Against SelectQuote - The complaint alleges that SelectQuote directed Medicare beneficiaries to plans that compensated the company best, regardless of quality [6] - SelectQuote is accused of failing to provide unbiased comparisons for Medicare Advantage insurance plans [6] - The company allegedly received illegal kickbacks from health insurers to steer beneficiaries towards certain plans, limiting enrollment in competitors' offerings [6] - SelectQuote's actions reportedly made it vulnerable to regulatory and legal sanctions, including violations of the False Claims Act [6] - The U.S. Department of Justice filed a complaint stating that SelectQuote received "tens of millions of dollars" in illegal kickbacks from 2016 to 2021 [7] Group 2: Impact on Stock and Legal Proceedings - Following the DOJ's allegations, SelectQuote's stock price fell by $0.61, or 19.2%, closing at $2.56 per share on May 1, 2025, with unusually high trading volume [7] - Investors who suffered losses are encouraged to contact Faruqi & Faruqi to discuss their legal rights and options [4][9] - There is an October 10, 2025 deadline for investors to seek the role of lead plaintiff in the federal securities class action against SelectQuote [4]

Core Viewpoint - Brown & Brown, Inc. has appointed Chief Operating Officer Steve Hearn to lead all operations outside of North America, aiming to enhance global capabilities and drive growth [1][2]. Company Overview - Brown & Brown, Inc. is a leading insurance brokerage firm established in 1939, with over 700 locations and a workforce of more than 23,000 professionals [3]. - The company specializes in delivering comprehensive and customized insurance solutions, focusing on scalable and innovative strategies for customer growth [3]. Leadership Change - The appointment of Steve Hearn is expected to strengthen the company's position as an industry leader globally and enhance relationships in the global market [2]. - The leadership change is seen as a strategic move to further invest in the global marketplace and leverage robust global capabilities [2].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased SelectQuote, Inc. securities between September 9, 2020, and May 1, 2025, of the upcoming lead plaintiff deadline on October 10, 2025, for a class action lawsuit [1] Group 1: Class Action Details - Investors who bought SelectQuote securities during the specified class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1] - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [2] - The lead plaintiff must file a motion with the Court by October 10, 2025, to represent other class members [2] Group 2: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [3] - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [3] - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020, and many attorneys at the firm have received accolades from Lawdragon and Super Lawyers [3] Group 3: Allegations Against SelectQuote - The lawsuit alleges that SelectQuote made false and misleading statements and failed to disclose critical information regarding its business practices, including directing Medicare beneficiaries to insurers that compensated SelectQuote the most [4] - It is claimed that SelectQuote did not provide unbiased comparisons for Medicare Advantage plans and received illegal kickbacks, leading to potential regulatory and legal sanctions [4] - The misleading statements from SelectQuote resulted in investor damages when the true nature of the company's practices became known [4]

As filed with the Securities and Exchange Commission on August 27, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Reliance Global Group, Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of (Primary Standard Industrial (I.R.S. Employer Incorporation or Organization) Classification Code Number) Identification Number) Mr. Ezra Beyman Florida 6411 46-3390293 ...

Summary of Huize Holding Limited (HUIZ) Conference Call Company Overview - **Company Name**: Huize Holding Limited - **Ticker**: HUIZ - **Industry**: Insurance Brokerage - **Headquarters**: Shenzhen, China - **Listing**: Nasdaq since 2020 - **Years in Operation**: 19 years - **Revenue Sources**: Over 30% from international markets including Hong Kong, Vietnam, and Singapore [4][5][16] Core Business Model - **Insurtech Leader**: One of the leading insurtech players in China, providing a fully digital and AI-driven insurance brokerage platform [8][36] - **Ecosystem**: Connects consumers with insurance carriers and intermediaries, offering over 120 providers on the platform [10][13] - **Customer Base**: Over 10 million policyholders, with a significant growth in customer engagement and retention [14][22] Financial Performance - **Gross Written Premium (GWP)**: $844 million in the previous year, with revenues around $200 million [15][42] - **Profitability**: Profitable on a quarterly basis, targeting a 10% net margin in the next few years [50][51] - **Cash Position**: Approximately $30 million in cash, exceeding current market cap [37][51] Market Position - **Market Share**: Approximately 5% in China, ranking as a top five player in the market [40][41] - **Distribution Channels**: Revenue split includes 20% from direct-to-consumer (D2C) and 80% from B2B partnerships [44][42] Growth Strategy - **International Expansion**: Focus on Southeast Asia, particularly Vietnam, Indonesia, and the Philippines, leveraging low insurance penetration and young demographics [32][35] - **Product Development**: Co-developing exclusive insurance products with partners, contributing to 53% of total GDP in Q4 2024 [25][26] - **AI Integration**: Utilizing AI for customer acquisition, underwriting, and claims processing, improving operational efficiency [27][28] Industry Dynamics - **Market Growth**: Anticipated double-digit CAGR in the insurance distribution market in China over the next decade [28][30] - **Regulatory Environment**: Clear regulatory framework in China for digital insurance distribution, reducing uncertainty for investors [60][61] Key Products - **Product Categories**: Focus on long-term savings products and health insurance, particularly critical illness products [56][59] - **Market Trends**: Shift from bank deposits to insurance products due to low interest rates in China [57][58] Customer Engagement - **Customer Demographics**: Average customer age of 35, with a high persistency ratio of 95% for policy renewals [22][23] - **Lead Generation**: Utilizing social media and educational content to attract customers, particularly targeting Gen Y and Gen Z [20][48] Conclusion - **Investment Highlights**: Leading insurtech platform with a strong cash position, significant growth potential in both domestic and international markets, and a commitment to leveraging technology for enhanced customer service and operational efficiency [36][37]

Company Overview - Yiren Digital is an established AI-powered financial service platform serving China and Southeast Asia, listed in 2015 [11] - The company has a robust financial foundation supported by steady cash flow from the core lending business [11] - Yiren Digital possesses a proprietary AI-powered platform, enhanced by proprietary LLM Zhiyu, commercially approved in April 2025 [11] - International expansion is underway, supported by cutting-edge technological expertise and strong local partnerships [11] Financial Performance - Loan facilitation reached RMB20.3 billion, a 57% year-over-year increase [16] - The company holds RMB4.1 billion in cash and equivalents [16] - Revenue in Q2 2025 was RMB1.5 billion, up 75% year-over-year [18] - Gross Written Premium (GWP) of digital insurance products increased by 103% quarter-over-quarter [18] Risk Management and Customer Acquisition - Delinquency rates remain stable at 1.7%/1.1%/1.0% for 1-30 days/31-60 days/61-90 days delinquent cases [16] - 77% of loans in Q2 2025 were from repeat borrowers [17, 21] - AI technologies are used for fraud detection, blocking over 30,000 high-risk identity documents daily [20] - 81% of Tier-1 debt collection is automated [20] AI and Technology - AIGC LLM "Zhiyu" was commercially approved in Q1 2025, driving business growth and reducing costs [16] - AI-generated marketing scaled 30x, from 20,000 to 600,000 daily user targets in Q2 2025 [35]

Core Viewpoint - A securities class action lawsuit has been filed against SelectQuote following the U.S. Department of Justice's intervention in a separate lawsuit, leading to a significant 19% drop in the company's stock price on May 1, 2025 [1][4]. Group 1: Lawsuit Details - The class action, Pahlkotter v. SelectQuote, Inc. et al., seeks to represent investors who acquired SelectQuote securities between September 9, 2020, and May 1, 2025 [2]. - The lead plaintiff deadline for the lawsuit is set for October 10, 2025 [2]. Group 2: Allegations Against SelectQuote - The lawsuit alleges that SelectQuote made false and misleading statements regarding its business practices, particularly in its Medicare Advantage sales [3]. - The DOJ claims that from 2016 to at least 2021, SelectQuote received "tens of millions of dollars" in illegal kickbacks for directing Medicare beneficiaries to specific plans, contradicting its claims of providing unbiased advice [3][8]. - The company allegedly discriminated against less profitable beneficiaries and directed customers to the highest-paying plans, which raises concerns about compliance with applicable laws [3][8]. Group 3: Impact on Stock and Investor Sentiment - Following the announcement of the DOJ's involvement and the class action lawsuit, SelectQuote's stock price has continued to decline, indicating a significant impact on the company's market value [4]. - Hagens Berman is investigating the extent to which SelectQuote's alleged practices may have inflated its financial results, leading to investor losses [7][9].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against SelectQuote, Inc. due to allegations of misleading practices related to Medicare insurance plans, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by October 10, 2025 [4]. Group 1: Allegations Against SelectQuote - The complaint alleges that SelectQuote and its executives violated federal securities laws by making false and misleading statements, including directing Medicare beneficiaries to plans that compensated SelectQuote the most, regardless of quality [6]. - It is claimed that SelectQuote did not provide unbiased comparisons for Medicare Advantage plans and received illegal kickbacks to steer beneficiaries towards certain insurers [6]. - The U.S. Department of Justice filed a complaint stating that from 2016 to at least 2021, SelectQuote received tens of millions of dollars in illegal kickbacks, leading to materially false claims about offering unbiased coverage comparisons [7]. Group 2: Financial Impact - Following the DOJ's allegations, SelectQuote's stock price fell by $0.61, or 19.2%, closing at $2.56 per share on May 1, 2025, amid unusually heavy trading volume [7]. Group 3: Legal Proceedings - Investors who suffered losses exceeding $75,000 in SelectQuote between September 9, 2020, and May 1, 2025, are encouraged to contact Faruqi & Faruqi to discuss their legal rights [1]. - The role of lead plaintiff in the class action is open to any member of the putative class, with the ability to share in any recovery not affected by the decision to serve as lead plaintiff [8].

Core Viewpoint - Wall Street anticipates flat earnings for SelectQuote (SLQT) compared to the previous year, with expectations of higher revenues impacting stock price movements based on actual results [1][2]. Earnings Expectations - The upcoming earnings report is expected on August 21, with a consensus estimate of a quarterly loss of $0.18 per share, unchanged from the year-ago quarter [3]. - Revenues are projected to be $333.42 million, reflecting an 8.5% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has remained stable over the last 30 days, indicating no significant changes in analysts' outlooks [4]. - The Most Accurate Estimate for SelectQuote is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -25.71%, suggesting a bearish sentiment among analysts [11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive reading is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank of 1, 2, or 3 [9]. - SelectQuote currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat conclusively [11]. Historical Performance - In the last reported quarter, SelectQuote was expected to post earnings of $0.04 per share but delivered only $0.03, resulting in a surprise of -25.00% [12]. - Over the past four quarters, the company has only beaten consensus EPS estimates once [13]. Conclusion - SelectQuote does not appear to be a strong candidate for an earnings beat, and investors should consider other factors when making decisions regarding the stock ahead of the earnings release [16].