Egypt’s Talaat Moustafa Group (TMG) has agreed a strategic partnership with AXA Egypt to provide property buyers in its new development, “The Spine”, with a 10-year medical insurance policy starting from the date of unit delivery.
The agreement also stipulates that Houston Hospital, which is scheduled to open in 2027, will join AXA’s medical provider network. This inclusion will allow unit owners at “The Spine”, alongside existing AXA medical insurance clients, to access the hospital’s services.
“TMG pays great attention to developing its communities according to a vision based on providing integrated destinations that elevate the modern living experience and keep pace with future aspirations,” said Mohamed Hisham Talaat Moustafa, Chief Executive Officer of “The Spine”.
“The Spine embodies this vision as the first cognitive city in the world, designed according to the latest technologies to employ technology and artificial intelligence in various aspects of life, while integrating housing, work, services, and entertainment in one integrated system,” he said. “Our partnership with AXA Egypt comes to add a new level of health protection to this experience, by providing extended insurance coverage to unit owners.”
The partnership reflects TMG’s broader corporate strategy to embed insurance products directly into real estate ownership.
Hassan El-Shabrawishi, Chief Executive Officer of International Markets at AXA, said the cooperation aligns with the group’s global direction to establish embedded insurance as a main growth axis.
“We are committed at AXA to developing the role of insurance to keep pace with the evolution of lifestyles, through innovative models that integrate with vital sectors, headed by the real estate sector,” El-Shabrawishi said. “TMG’s The Spine embodies this trend, as it reflects our ability to employ our international expertise and adapt it in line with local market requirements.”
Minoush Abdel Meguid, Chief Executive Officer of AXA in Egypt, stated that the partnership provides tailored solutions intended to offer financial and health protection to property buyers.
“This cooperation represents a qualitative shift in providing insurance services within the real estate sector, by focusing on tangible value that reflects directly on customers,” Abdel Meguid said. “Through our role in The Spine, we provide insurance solutions designed for the needs of unit owners, thereby enhancing their long-term stability, to offer an integrated ownership experience.”