Annual Report 2024
Swiss Export Risk Insurance SERV is an institution under public law with the status of an independent legal entity under the Swiss Confederation. It is independent in its organisation and management and conducts its own accounts (Art. 3 SERVG). In accordance with Art. 24 SERVG, the SERV Board of Directors (BoD) prepares the financial statements as well as the annual report and publishes these following the approval by the Federal Council. This annual report focuses on information relating to the course of business in 2023. It consists of the management report, statements on corporate governance, the financial report and the financial statements with notes. The complete annual report (incl. financial statements) can be consulted in the PDF version. All background information – namely regarding the general business policy, the risk policy and risk management, sustainability, loss and claims management, as well as international cooperation – is available on the website serv-ch.com.
The 2024 SERV Annual Report is available in English, French and German.
The German PDF version is authoritative.
Financial Highlights
New Commitment
1 765
CHF million
Income from Insurance
95
CHF million
Proportion of customers that are SMEs
82
%
Loss Expenses
15
CHF million
Economic Viability
20
CHF million
The surplus cover in the economic viability calculation amounted to CHF 20 million.
Commitment
Commitment by Industry
As at 31 December
Commitment by OECD Country risk Category
As at 31 December
Commitment
8210
CHF million
|
Obligation in CHF million |
|
31.12.2024 |
|
31.12.2023 |
|
Framework of obligation |
|
14 000 |
|
14 000 |
|
Insurance obligations |
|
9 865 |
|
9 674 |
|
|
|
|
|
|
|
Current exposure in CHF million |
|
31.12.2024 |
|
31.12.2023 |
|
Commitment: insurance policies (IP) |
|
8 210 |
|
7 892 |
|
Insurance commitments in principle (ICP) |
|
1 655 |
|
1 782 |
|
Exposure |
|
9 865 |
|
9 674 |
|
|
|
|
|
|
|
New exposure in CHF million |
|
2024 |
|
2023 |
|
New commitment : insurance policies (IP) |
|
1 765 |
|
2 641 |
|
Insurance commitments in principle (ICP) |
|
969 |
|
1 791 |
|
|
|
|
|
|
|
Balance sheet in CHF million |
|
31.12.2024 |
|
31.12.2023 |
|
Cash in hand & at bank and cash investments |
|
3 349 |
|
3 252 |
|
Claims from losses and restructuring |
|
131 |
|
149 |
|
Credit balances from debt rescheduling agreements |
|
67 |
|
86 |
|
Unearned premiums and provisions |
|
584 |
|
654 |
|
Capital |
|
2 991 |
|
2 892 |
|
|
|
|
|
|
|
Income statement in CHF million |
|
2024 |
|
2023 |
|
Earned premiums |
|
90 |
|
171 |
|
Interest income from debt rescheduling agreements |
|
4 |
|
18 |
|
Loss expenses |
|
–15 |
|
–222 |
|
Debt rescheduling results |
|
26 |
|
27 |
|
Profit / loss on insurance |
|
105 |
|
–8 |
|
Personnel expenses |
|
–17 |
|
–17 |
|
Non-personnel expenses incl. depreciation |
|
–14 |
|
–13 |
|
Financial income |
|
2 |
|
11 |
|
Other income |
|
3 |
|
7 |
|
Operating profit / loss |
|
79 |
|
–20 |
|
Interest income from cash investments |
|
20 |
|
34 |
|
Net income (NI) |
|
99 |
|
13 |
|
|
|
|
|
|
|
Number of employees |
|
|
|
|
|
Number |
|
88 |
|
86 |
|
Full-time equivalents |
|
82.0 |
|
79.8 |
|
Average number of full-time equivalents by year |
|
80.9 |
|
79.4 |
