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The partnership reflects TMG’s vision of developing integrated smart communities that meet customers’ diverse needs and enhance their quality of life. It also forms part of the Group’s strategy to deliver integrated services and smart solutions across its communities through collaboration with leading institutions across various fields. This approach aims to create added value for customers and enhance the ownership experience through comprehensive protection covering financial, health, and life needs.
The partnership also reflects AXA Egypt’s commitment to developing innovative, tailored insurance solutions, drawing on its expertise in the real estate sector. Through this collaboration, AXA Egypt will introduce a new insurance product specifically designed for The Spine, taking into account the development’s scale and nature and the needs of its unit owners. The product combines a distinctive range of coverages in a single solution, offering broad protection in a first-of-its-kind initiative. It also reflects a more flexible approach to insurance product design, allowing solutions to adapt to the specific characteristics of developments and the evolving needs and aspirations of their customers.
The partnership further supports AXA Egypt’s strategy to expand its innovative insurance solutions and offer flexible, integrated products that meet customers’ needs at different stages of their lives. It also advances AXA’s embedded insurance model by integrating protection into modern lifestyles through comprehensive coverage addressing the financial, health, and life needs of unit owners.
The agreement was signed by Mohamed Hisham Talaat, CEO of The Spine, Talaat Moustafa Group, and Hassan El-Shabrawishi, CEO of AXA International Market, in the presence of Dr. Ashraf Salman, Board Member of Talaat Moustafa Group, and Minoush Abdelmeguid, CEO of AXA in Egypt. The partnership marks a step toward introducing an integrated embedded insurance model within the real estate sector.
Commenting on the partnership, Mohamed Hisham Talaat, CEO of The Spine, Talaat Moustafa Group, said: “Talaat Moustafa Group places great emphasis on developing its communities around a vision of integrated destinations that elevate the modern living experience and respond to future aspirations. The Spine embodies this vision as the world’s first fully integrated cognitive city, designed around the latest technologies to harness technology and artificial intelligence across different aspects of life, while bringing together living, work, services, and entertainment within one integrated ecosystem.”
He added: “At The Spine, we are committed to extending this ecosystem to address the diverse needs of our customers. Our partnership with AXA Egypt adds a new dimension of health protection to this experience by providing extended insurance coverage for unit owners, enhancing the value we offer our customers and reflecting our commitment to delivering an integrated living experience within the city.”
Hassan El-Shabrawishi, CEO of AXA International Market, said: “This partnership reflects AXA’s global direction to further establish embedded insurance as one of its key growth drivers by integrating insurance solutions into vital sectors, particularly real estate. At AXA, we are committed to evolving the role of insurance in line with changing lifestyles through innovative models that integrate with key sectors, including real estate. The Spine exemplifies this direction, demonstrating our ability to leverage our international expertise and tailor it to local market requirements, strengthening our role in supporting the growth of these markets and keeping pace with their evolving needs.”
Minoush Abdelmeguid, CEO of AXA in Egypt, said: “We are pleased to sign this strategic partnership with Talaat Moustafa Group. This partnership represents a significant step forward in delivering insurance services within the real estate sector, with a focus on creating tangible value for customers. Through our role at The Spine, we are providing insurance solutions tailored to the needs of unit owners, helping enhance their long-term security and delivering an integrated ownership experience that elevates quality of life, supported by comprehensive protection across financial, health, and life needs.”
She added: “The partnership reflects a shared vision to redefine the residential experience within new urban communities by providing integrated services that enhance the value of real estate investments and contribute to an improved quality of life.” AXA Group is one of the world’s leading insurance and asset management groups, with more than 200 years of experience and over 108 million clients across 57 countries. In Egypt, AXA has strengthened its position as one of the leading players in the local insurance market through a strategy focused on innovation, integrated solutions, and digital transformation.
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