Christine Theodorovics
Baloise Assurances Luxembourg
CEO
Christine Theodorovics became the CEO of Baloise Luxembourg in 2023, the latest step in a successful international career in financial services. She shares some glimpses of her professional life, along with insights and inspiration for aspiring financial services leaders, in this wide-ranging interview with Boris Plantier from Qorus.
Please tell us a little bit about your background.
I was born in Vienna, Austria, but after many years in Switzerland, I also hold Swiss citizenship. My career spans over 25 years in finance and insurance, where I've had the opportunity to work across different markets and cultures.
I started in market research in Germany, which really shaped my customer-centric approach early on. Then, I joined Credit Suisse and after that Swiss Life, where I focused on developing new markets in Asia and the Middle East. After that, I moved to Zurich Insurance Group, where I held global roles before joining the executive committees in Austria, Switzerland and Germany.
Later, I took on a group-level role at AXA in Paris as Head of Group Strategy within the European Executive Committee, overseeing strategy, distribution, innovation, digital transformation and ESG.
Since June 2023, I’ve been the CEO of Baloise Luxembourg, leading a fantastic team in a dynamic and evolving market. It’s been an exciting journey so far!
What does your workplace look like?
I split my time between Switzerland and Luxembourg. In Switzerland, I have an important role to play in the Group Strategic Committee. On the one hand, I represent Baloise Luxembourg there, ensuring that our market’s voice is heard; on the other hand, together with my peers, we are leading and shaping the group’s strategy. At the same time, I am fully immersed in my role as CEO of Baloise Luxembourg, where I spend most of my time, leading our teams, shaping our strategy, representing the company, and working closely with our partners and clients to drive growth and innovation.
Beyond my responsibilities at Baloise, I also serve as a board member of the Luxembourg Insurance Association (ACA), contributing to the broader development and representation of the insurance sector in Luxembourg. This role allows me to actively engage in industry discussions, advocate for our market, and collaborate with key stakeholders to shape the future of our sector.
My workplace is dynamic and diverse – one day, I’m in strategic discussions at the group level in Switzerland, and the next, I’m in Luxembourg, engaging with my teams and industry peers. It’s a fast-paced, highly connected environment, but one that I thrive in.
Ultimately, my workplace isn’t just a physical space – it’s wherever I connect with people, exchange ideas, and help move our business and industry forward.
Could you describe your usual working day?
Honestly? There is no ‘usual’ working day. My role is dynamic, fast-paced and ever-changing – no two days look the same.
Some days are filled with high-level strategic decisions, board meetings and industry discussions. Other days, I’m focused on our people, culture and operational excellence – whether it’s supporting my teams, mentoring talents or exploring new ways to innovate and grow.
What I love about my job is precisely this lack of routine. It requires adaptability, curiosity and a strong sense of purpose. Every day brings new challenges, new opportunities and new conversations that push us forward. And that’s exactly what keeps it exciting!
What is your favorite food?
I love food! I’m a real foodie and a bon vivant – I truly enjoy eating and discovering new flavors. Luckily, with all the sports I do, I can indulge without immediately feeling too guilty... That said, I also believe in balance, a healthy lifestyle and healthy eating. I eat a lot of fruits and vegetables, and I make sure my diet is varied and balanced. I enjoy trying different cuisines, exploring new tastes and appreciating good food, but always with a mindful approach. But I really love the Austrian ‘Backhendl’ – a baked chicken and typical Austrian dish – not super healthy, but so good!
For me, it’s all about enjoying what you eat while taking care of yourself. I love to eat with others – it is a form of social gathering, which I really like. After all, food is energy, pleasure, and a way to connect with others – just like sports, it’s a big part of my lifestyle!
What do you do when you need a break from work?
When I need a break from work, sports are my go-to. I truly believe in the saying, ‘a healthy mind in a healthy body’.
I’m passionate about mountaineering, diving and running, and sports require discipline, teaching me perseverance and endurance over the long run. But beyond physical benefits, sports are a powerful confidence booster. Pushing past limits, facing challenges and achieving small victories build mental resilience – qualities that translate far beyond the sports field and into everyday life.
Too often, women wait until they feel ‘perfectly ready’ before taking action. But confidence doesn’t come first; it follows action. Every time you try something new, speak up in a meeting or defend your ideas, you strengthen your self-confidence.
For example, studies show that women tend to apply for a job only when they meet 100% of the criteria, while men apply when they meet just 60%. We need to stop self-censoring and take more chances. So, my advice? Just apply! Don’t let doubt dictate your path.
What is the key to building a successful team?The key to building a successful team? People first!
I see myself as an open and accessible leader – I engage a lot with my colleagues, listen and communicate. This helps me form informed opinions and stay connected to what truly matters.
For me, empowering talent and motivated individuals is essential. Everyone who brings great ideas and commitment should have a chance and a voice. My team is my best ambassador, and nothing would be possible without them. That’s why I try to make sure that each individual is recognized at all levels of the company. Diversity is a strength, and success comes from knowing how to leverage the right talents at the right time.
Communication is key:
• Inform, explain and exchange – this fosters understanding and helps us see things from different perspectives.
• Give a clear vision – set direction, define objectives and clear goals. Simon Sinek, leadership expert and bestselling author, explains that great leaders start with why: purpose gives direction, how relies on the team’s expertise, and what ensures execution. A clear vision follows this logic – aligning strategy with meaning to inspire action.
• There is no single truth – but transparency helps to shape the full picture and is crucial to moving forward together.
• Above all, I believe in meritocracy because it rewards effort, skills and results over status or privilege, fostering a culture of fairness, motivation and continuous improvement.
That’s why I stay close to my team – to understand their reality and our collective reality. Because in the end, great leadership is about enabling others to thrive.
There is a saying that we learn more from failure than success. Tell me about one of your failures and what you have learned from it.
At the beginning of my leadership journey, I believed that I needed to do and know everything myself; but I quickly realized that this approach was not sustainable and, more importantly, not the most effective way to lead.
I thought being a strong leader meant having all the answers, but in reality, great leadership is about surrounding yourself with experts, delegating effectively, and giving them the space to excel. Once I shifted my approach, not only did the team perform better, but I also had more time to focus on the bigger picture. That experience taught me that leadership isn’t about knowing everything – it’s about enabling others to bring their best to the table.
What advice would you give to someone who wants to succeed in financial services?
My advice for anyone looking to succeed in financial services – or anywhere else for that matter? Stay flexible, be agile, and seize opportunities. Success isn’t just about ambition; it’s about adapting, learning, and embracing new challenges. Don’t be too fixated on a specific career path – sometimes the best moves are the unexpected ones. A lateral shift, an opportunity in a new location, or an unfamiliar project can shape you in ways you never anticipated. As long as you’re growing and enjoying the journey, it’s valuable.
Also, appreciate the progress you’ve made, celebrate your wins, and give yourself permission to pause and recharge. Sustained success comes from staying motivated and engaged, not just relentlessly pushing forward.
And to all the women out there: Climb, fall, get back up, climb again – enjoy the view. You are capable of more than you think. Take your place, own your space, and go for it!