Doral Insurance Agency Acquires CitiSeguros

Doral Insurance Agency Inc. announced the acquisition of the CitiSeguros PR Retail Bank insurance portfolio. The transaction with CitiSeguros, a Citigroup subsidiary, will add more than 10,000 new clients with insurance policies in personal and commercial lines, including health, life, disability, auto, property, and casualty.The acquisition is in line with Doral strategy of expanding its insurance product lines, which up until now concentrated on offering insurance products related to residential mortgages, such as title and property. Doral has become a general agency and expanded its product line to include the full line of insurance products. These are health and life insurance, including cancer, whole life, term life and disability; property and casualty including a personal package, commercial package, auto, umbrella and surety bonds, among others.