Swiss Export Risk Insurance SERV is Switzerland’s official export credit agency. As an institution under the public law of the Swiss Confederation, it benefits from Switzerland’s AAA credit rating.
What does SERV do?
If a company wants to establish itself in a new market, it has to expect risks. Times are volatile and the political situation is not always stable everywhere. This presents companies with various challenges: Is it risky to ship to this country? Will our bank finance the raw materials needed for production? What happens if the buyer doesn’t pay? Could political unrest prevent us from getting paid? Swiss Export Risk Insurance SERV is here to help with these and other questions.
For Swiss companies, SERV steps in if foreign buyers are unable or unwilling to pay due to political or economic reasons. Calculated risks keep insured export companies and financing banks on the safe side. SERV’s insurance products also make it easier for companies to obtain loans for their production costs and increase their credit limits.
With its insurance solutions, SERV complements the products of private insurers (principle of subsidiarity). It operates in an economically viable manner and finances itself by charging premiums that are commensurate with the risk – meaning it functions without taxpayers’ money.
Facts and figures
For over 90 years, we have stood for stability and security in the Swiss economy. With our insurance products, we help companies create and maintain jobs – today and tomorrow.
1934
as ERG (Export Risk Guarantee). SERV took over the rights and obligations of ERG in January 2007.
Zurich
with an office in Lausanne since 2010.
92
SERV insurance policies enable the creation and safeguarding of up to
21 000
jobs in Switzerland.
Institution under public law as its own legal entity. SERV is independent in its organisation and management. It is economically viable and keeps its own accounts (SERV is part of the decentralised federal administration).
The State Secretariat for Economic Affairs SECO (Promotion Activities Directorate) supervises SERV. It holds quarterly controlling meetings with SERV management together with the GS-EAER, the FDFA and the FFA.
SERV’s basic objective is to create and safeguard jobs in Switzerland and promote Switzerland as a location of business in international competition (Art. 5 SERVG).
History of SERV
On 1 January 2007, Swiss Export Risk Insurance SERV replaced Export Risk Guarantee (ERG), which had already been making an important contribution towards the economic development of Switzerland since being founded in 1934 – originally as a measure to combat unemployment. Dr Hans-Peter Bärtschi, an industrial and economic historian, has traced the history of ERG for you in the context of global economic developments.
Today, SERV is a modern, internationally recognised export credit agency (ECA) that has already helped countless companies – both big and small – to export their goods and services. SERV has been pursuing the same objectives from the very beginning: to promote Switzerland as a location of business and to create and safeguard jobs in Switzerland.
