Chartis Egypt Insurance Moves To Mohandseen On Cost-Cutting Plans

Chartis Egypt Insurance Co. plans to move to its old headquarters in Mohandseen by the beginning of the new fiscal year, because of the high rent payments, sources told Amwal Al Ghad.

Amwal Al Ghad was informed that the Company pays a yearly rent of US$ 600,000 on its current headquarters in Nile City Towers.

The Company has made some changes to cut its costs as the volume of premiums was dropped by EGP 50 million, registering EGP 320 million in the current year.