​How would you assess 2023, and how satisfied are you with the results? 

There were no surprises. It's been a difficult year, with a sharp rise in interest rates, which has led to competition from banking products such as term deposits. In June 2023, industry inflows were down 20%, but our company ended the year with a decline of just 8% after a solid recovery. This reflects both the robustness and resilience of our Group, and our ability to adapt our offerings. Current endeavors involve numerous scenarios, with the primary one forecasting a dip in rates, aligning with an inflation deceleration. Alternate scenarios consider the continuation of elevated rates. ​

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How is your company adapting in this context? 

Luxembourg's life insurance sector boasts renowned benefits, yet complacency finds no place now. For instance, France recently legislated on green industry to facilitate life insurance access for investments in energy transition, stirring its market. French competitors are reforming, introducing more agility. Meanwhile, in Ireland, local firms actively seek market shares, highlighting Ireland's tax flexibility. Collaboration with the ACA and the CAA aims at evolving Luxembourg regulations to unveil new opportunities. Another area of work involves the rapid adoption of technological innovations to cope with regulatory pressure, including AML and KYC procedures, as well as reporting and file analysis. Cardif Lux Vie's ongoing evolution embraces automation, standardization, robotization, and notably, artificial intelligence, promising enhanced partner services and escalating satisfaction, our ultimate criterion. Our collaboration extends to 315 asset managers and 130 custodians, with a significant emphasis on APIs for seamless integration and essential data access for processes.