Declaration of Divestment

Allianz profits from the genocide of Palestinians and the destruction of the Earth.

Allianz is a German multinational company headquartered in Munich, Germany. It is the world’s largest insurance company and the largest financial services company in Europe. Allianz invests

450 million USD in arms companies that supply military weapons to Israel. These weapons have been used in the occupation and ongoing genocide in Palestine.

Allianz invests in Elbit Systems, Israel’s largest weapons manufacturer, and is the insurer of its UK factories where deadly ‚Hermes‘ drones are produced and shipped to Israel. These drones are then deployed in surveillance and strike missions in Gaza. Without insurance, Elbit could not continue to operate. This makes Allianz complicit in the genocide.

Allianz also sells insurance policies and directly invests more than 2.3 billion USD (600 million for insurance policies + 1.7 billion investments) in fossil fuel companies that fuel the destruction of the environment and supply the Israeli war machine. Among these: BP, ExxonMobil and Chevron, that provide crude oil to fuel Israel’s military and air force. In particular Chevron operates the Arish-Ashkelon pipeline that delivers gas from Israel to Egypt through Palestinian waters, and supplies energy to illegal settlements while cutting electricity to Gaza.

Insurers like Allianz are a key part of the global capitalist system, by underwriting the risk of weapon companies and actively investing in the arm sector. They enable weapon companies to expand, kill with impunity and profit from this deadly business.

We condemn Allianz’s profiting of the genocide of people and the destruction of the planet.

On 26 January 2024, the International Court of Justice found there are plausible grounds to believe that Israel is committing genocide in Gaza. Under the provisional measures, States and Corporations are required by the Genocide Convention to prevent and to punish genocide.

Allianz has shown no signs of change. Instead of divesting from weapons manufacturers like other companies are doing, Allianz has doubled its investment in 2024.

As an institution we cannot support such genocidal business practices. We firmly believe that we have a responsibility in insuring our business relationships do not sustain the ongoing genocide.

We want to contribute to a world free from such genocidal business practices that strives for the liberation of all people.

We will have no ties with those that enable genocide and oppression. ​​​​​​​

To this effect, [  ] declare that, as long as Allianz profits from the genocide of Palestinians and the destruction of the Earth:

OPT 1. We have no business relationship with Allianz and commit to never doing business with them in the future

OPT 2. We will cease all business relationships with Allianz.