SERV published its Annual Report 2016 on 29 March 2017. It closed its tenth financial year, with a positive net result of CHF 72.7 m – once again an improvement compared to the previous year. With a total of 956 transactions completed – in comparison with 864 in the previous year – the demand for SERV products rose to record levels. The continuing strong demand for counter guarantees (213 insurance policies and commitments) and working capital insurance (105 insurance policies and commitments) is worthy of particular mention. Both products support especially SMEs with the optimisation of their liquidity management. Due to a lack of large projects, the volume of transactions and thus premium revenues nevertheless fell from CHF 59 m to CHF 51 m.
The financial year 2016 was characterised by uncertainty about future trade policy and weak growth figures in industrial countries. Furthermore, low commodity prices took their toll on trade and economic growth in important markets for clients of SERV. However, the Swiss export industry, which also has to cope with the disadvantages of the franc’s ongoing strength, defied these adverse circumstances and continued to find sales markets for its goods and services.
The annual report is available on SERV's website under www.serv-ch.com > Documents > Annual report.