Activists declare Axa, AIG as top targets

By Rebecca Delaney

Aug 15 - (The Insurer) - Axa and AIG have been named as the top targets of Extinction Rebellion's next round of actions under the Insure Our Survival campaign over alleged links to new fossil fuel infrastructure and weapons manufacturers.

Extinction Rebellion launched its Insure Our Survival campaign in October last year to coordinate a series of nonviolent direct actions targeting insurers.

Most recently, activists targeted the Energy Insurance London conference in July, as well as the annual conference of the British Insurance Brokers' Association in May.

In its latest update, Insure Our Survival announced an "international wave of action" that will take place between September 8 to 22, targeting insurers with alleged involvement in providing coverage to the expansion of oil and gas infrastructure, as well as arms companies.

Actions have been scheduled to take place in London on September 8 and 9, with more events planned across Europe, the Americas, Africa and Asia.

The campaign said it is "pushing for pressure worldwide" on Axa and AIG specifically.

AIG declined to comment. Axa did not respond to a request for comment.

Insure Our Survival described Axa as "a key insurer of the Israeli war machine", as well as alleging that the French (re)insurer is involved in providing insurance coverage to "the worst carbon bomb projects".

Axa previously faced protests over alleged holdings in three banks linked to the Israeli state: Bank Hapoalim, Israel Discount Bank and Bank Leumi. As reported at the time, Axa had divested from the trio by June 24, 2024, according to independent research organisation Profundo.

"Axa has already dropped its support of many Israeli banks and Elbit Systems due to activist pressure: we know we can move them," said Insure Our Survival.

The campaign added that AIG is "almost as heavily involved in fossil fuels and arms", with the Peter Zaffino-led carrier also slammed as "still in the frame" for alleging providing insurance coverage to the East African Crude Oil Pipeline.

Insure Our Survival has called on retail customers to boycott the two insurers.

"We’re asking all groups that can to take direct action to disrupt and shout loudly in their country for a permanent mass public boycott of a major global insurer: Axa/AIG. That way we focus as much pressure and profit damage as possible on one of the worst firms," said Insure Our Survival.

"As their biggest profits come from selling insurance to ordinary people, we can affect their bottom line by telling everyone that they are quietly arming Israel, driving floods, wildfires, droughts and heatwaves even as they advertise their shiny brand to us. That will get their board’s attention, and they will be forced to act because they know we won’t stop until they do."