Focus on SMEs and international infrastructure projects strengthen new business
SERV further expanded its commitment in the 2025 financial year and focused its investment on international projects. Chief Insurance Officer Lars Ponterlitschek evaluates the development and gives an insight into focus areas, figures and perspectives.
A year of strong new commitment
“When we look back on 2025, we see a year of marked momentum in new business,” says our Chief Insurance Officer (CIO) Lars Ponterlitschek. SERV issued new insurance policies to the value of CHF 2.303 billion. The following points are particularly pleasing: The share of our SME clients remains stable at 79 per cent, confirming our important role for the Swiss export industry.
New commitment – the sum of all risks newly insured by SERV in 2025 under insurance policies – was much higher than in the previous year. The regional focus areas were Eastern Europe & Central Asia, followed by Western Europe and the Middle East & North Africa. Major individual projects were to the fore, particularly the financing of an energy-from-waste facility in England.
Focus on infrastructure projects
“We turned five major infrastructure projects into reality in 2025, providing 47 Swiss subcontractors with new business opportunities,” stresses Lars Ponterlitschek.
As in previous years, the focus was on projects in the railway and energy sectors. “We often support such projects with buyer credit insurance and thus enable sustainable investments abroad.”
Solid product demand and profitability
588 new applications were approved in 2025. This number is slightly above the previous year but still below previous record values. There is still strong demand for traditional SERV products, such as counter guarantees and supplier credit insurance.
Liquidity solutions play a fundamental role for SMEs. Demand for working capital insurance increased slightly, while the number of counter guarantees fell somewhat.
Premium income came to CHF 136.6 million and insurance income remained solid, despite interest income from debt rescheduling agreements being down slightly. Loss expenses were below the long-term average – a sign of a generally balanced portfolio.
Acquisition with a clear purpose
SERV consistently pursued its acquisition operations in 2025 with a particular focus on two areas: the regional banking initiative and the identification of major international projects.
“It is important to us to move closer to our customers, particularly via regional banks,” explains the CIO. “The aim is to make our solutions better known and more accessible and especially to focus more on supporting our SMEs.”
The cooperation within Team Switzerland Infrastructure remains key to enabling Swiss companies to focus on gaining access to major international infrastructure projects. SERV strengthens Switzerland’s position with regard to international major projects in cooperation with its partner organisations.
