Michał Trochimczuk: The world is currently facing numerous geopolitical, economic and environmental challenges. From Baloise in Germany's perspective, which do you consider to be the most important? How are you addressing them?

Dr Jürg Schiltknecht: We are very concerned about the economic situation in Germany. The country has been stagnating for several years. These are not good conditions. However, we hope that we will soon see positive developments again. We are focusing on the target group segments in which we expect continued profitable growth. In these segments, we want to score points with attractive products, top service and a highly committed team. So far, we have been very successful in this.

Another challenge is the increasing number of rules and regulations affecting the insurance industry. In the area of ESG, for example, there is a degree of formalism that sometimes makes you wonder whether it is justified in terms of content. It is intended to ensure security and fairness but often results in additional costs. Less could be more in this case. It is better to have fewer rules that are well formulated and consistently implemented than more and more rules. The merger of Helvetia and Baloise also helps us to meet the ever-increasing requirements.

Michał Trochimczuk: What changes will have the greatest impact on the insurance industry over the next 25 years? What do you expect this to mean for the future business of Baloise in Germany?

Dr Jürg Schiltknecht: Despite, or perhaps because of, the changes ahead, we are optimistic about the future. AI in particular will significantly change the market. We want to take advantage of the opportunities this presents, as we believe that this field will continue to develop very dynamically and lead to fundamental changes. The issue of demographics will also continue to intensify. The ageing of society will continue irreversibly in the coming years and will place an increasing burden on social systems. The private insurance industry and Helvetia Baloise offer attractive solutions to this problem. After all, the state cannot and does not want to finance everything on its own. That is why the importance of private pension provision will continue to grow. The ‘war for talent’ is also intensifying. The insurance industry will have to continue to fight to position itself as an attractive option for potential employees. In my opinion, the insurance industry will become more attractive due to its resilience and stability in an increasingly rapidly changing society.