📋 Tender Overview
On April 6 2022 the Federal Council approved the 2021 annual report of the Swiss Export Risk Insurance SERV. SERV recorded an operating profit of CHF 88.1 million. It once again proved itself to be an important pillar of the export economy especially in times of crisis. 78 percent of SERV customers are SMEs. In 2021 the volumes of insured transactions ranged between CHF 19000 and CHF 264 million.At the end of 2021 71 of the commitment framework of CHF 14 billion set by the Federal Council had been used. The new insurance coverage plus Basic insurance commitments GV of SERV increased from CHF 3802 million in 2020 to CHF 4647 million in 2021. The increase can be attributed to higher demand for GV which SERV issues so that exporters can offer competitive financing for ongoing tenders. The increase in GM shows that exporters have made more efforts to get foreign orders again in 2021. The initiative approved by the Federal Council in April 2021 to promote access to large foreign infrastructure projects also contributes to this. Together with associations and other partners SERV actively approaches foreign general contractors who might be interested in procuring Swiss products and services. In doing so it creates targeted opportunities for Swiss SME exporters.At the end of 2021 SERV had the largest commitments insurance coverage in Russia with CHF 782 million followed by Turkey with CHF 765 million Bangladesh with CHF 557 million and Brazil with CHF 552 million. In terms of sectors the focus was on power generation and distribution with CHF 1973 million and mechanical engineering with CHF 1675 million.Claims payments made amounted to 109 million Swiss francs in the year under review previous year 83 million. Due to the situation in Ukraine it is foreseeable that there will be losses in business with Russia which will occupy SERV for the financial years from 2022 onwards. Not all policies in existence at the outbreak of war will result in total or partial damage. First of all the policyholders and SERV must take measures to mitigate the loss. The damage ultimately remaining for SERV cannot yet be quantified but according to current estimates it appears to be bearable. At the end of 2021 SERVs equity amounted to CHF 2832 million.
