Allianz faces fresh protests over alleged links to Israeli weapons firm

By Rebecca Delaney

Jan 28 - (The Insurer) - Fifteen of Allianz's offices across the UK and Europe have been targeted by protest group Palestine Action over the German carrier's alleged involvement with an Israeli weapons manufacturer.

The group targeted three Allianz offices across Germany on Tuesday morning, as well as the insurer's office in the City of London.

UK regional offices in Croydon, Bristol, Newcastle and Glasgow were also targeted by protesters, who daubed the premises with red paint and smashed windows.

Red graffiti at some locations carried the demand "Drop Elbit", referring to Israeli weapons manufacturer Elbit Systems.

In a post on social media platform X, Palestine Action said: "Allianz insures and invests in Elbit Systems, making it possible for the Israeli weapons firm to operate in Britain. We will cost the company more than they gain by working with Elbit, until they cut ties."

A separate post said: "Palestine Action is ramping up the pressure against the insurance firm to end their links with Israel's biggest weapons firm. If you associate with Elbit, we will become associated with you."

A spokesperson for Allianz UK told this publication: "We respect everyone’s right to have and express their opinion. However, we have zero tolerance for any criminal behaviour that threatens the safety or security of our people, property, and business."

The spokesperson also confirmed that Allianz's business operations and service to customers and clients remained unaffected by the protests.

Allianz's London office was covered in red paint last month, a move that Palestine Action later took credit for online.

In October 2024, 10 Allianz offices across the UK were targeted in a similar protest by Palestine Action over the carrier's alleged involvement with Elbit.

As previously reported, French insurer Axa was also targeted over its former links to Elbit. It partially divested from the defence firm in December 2018 and March 2019, before fully divesting by the end of 2019.

In August 2024, a report by non-profit Ekō said that Axa had divested holdings worth $20mn from three banks linked to the Israeli state over the prior three quarters.