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Abdel Aziz Labib, financial director of Wethaq Takaful Insurance Company, said the costs of developing and furnishing the new branch in Nasr City reached about EGP 500,000.
The new branch was inaugurated from two weeks. The branch was not bought as it has been acquired by the company from a long time, he added.
Mohamed Abdel Aziz, who previously worked at Chartis Insurance Egypt, has been appointed as the general manager of the new branch.
Wethaq Takaful Insurance Company targets to achieve profits of EGP 7 million in FY 2012/2013.
It is worth mentioning that Wethaq has six branches as it has two branches in Cairo, one in Rehab City, one in Alexandria, one in Mansoura and the new branch in Nasr City, in addition to the headquarters.
