International comparison of Swiss Export Risk Insurance SERV: efficient but operating within a tight legal framework

Press release 26.06.2025

Zurich, 26 June 2025 – Swiss Export Risk Insurance SERV had an international benchmarking study carried out. A total of 18 different public export credit agencies (ECAs) were compared on the basis of 20 indicators relating to a range of key areas. SERV scored very highly in the study overall. However, SERV operates within a tight legal framework by comparison with ECAs in other countries.

The Federal Council’s strategic goals for SERV (2024–2027) require it to offer modern and internationally competitive insurance and guarantee products. With this in mind, SERV regularly compares itself against other export credit agencies (ECAs). The aim is to highlight the need for changes to SERV’s range of products and services at the earliest possible opportunity.

Some five years after the last benchmarking analysis, SERV commissioned a new study (SERV Strategy 2027) to gain a better picture of its work and services compared with ECAs in other countries. There are more than 80 public export credit agencies (ECAs) and export-import banks (EXIMs) worldwide, which insure and guarantee almost one trillion Swiss francs every year. This equates to more than three per cent of global goods exports.

The new benchmarking study examined the approaches of leading ECAs – irrespective of their size or resources. These include Export Development Canada (EDC), the Export and Investment Fund of Denmark (EIFO), Finnvera in Finland, Nippon Export and Investment Insurance (NEXI) in Japan, SACE in Italy and UK Export Finance (UKEF). The study also outlined steps for improving SERV’s strategic positioning, operational efficiency and influence over Switzerland’s export industry.

SERV scored very highly in the study overall, notably with regard to its efficiency and the level of satisfaction among clients and employees. One major finding, however, was that ECAs were seen to have increasingly broad strategic goals, which extend beyond purely export-oriented interests. In addition, global megatrends are making traditional export models vulnerable in countries such as Switzerland. The study also revealed that SERV’s activities are restricted by a more stringent legal framework compared with other ECAs. This relates in particular to SERV’s portfolio of products, which is still very conventional whereas those of other ECAs have been significantly expanded over the last few years.

Talking about the study, Peter Gisler, CEO of SERV, said: “The positive scores from the study give us cause for optimism. However, the study also clearly confirmed that a partial revision of the existing SERV Act has become essential. There is a clear need for action with regard to our range of products and the eligibility requirements for SERV insurance, to ensure that we can continue to fulfil the Swiss government's export promotion mandate going forward, and on an equal footing with other ECAs.”

SERV has produced a white paper setting out the findings from the study and summarising the resulting conclusions drawn by SERV.

Link to the white paper on the study: www.serv-ch.com/benchmarking-study