A groundbreaking campaign, Boycott Bloody Insurance, launches today alongside the release of a damning report that exposes how major global insurance companies are actively enabling Israel’s ongoing assault on Palestinians. Titled Ensuring Genocide: The Insurance Industry and Israel’s War Machine, the report reveals that insurers including Allianz, Aviva, AXA, Zurich, and RSA have collectively invested over $1.7 billion in companies supplying military equipment to Israel since 7 October 2023.
The report highlights investments in and underwriting of firms such as Boeing, Lockheed Martin, Elbit Systems, and BAE Systems; companies directly implicated in war crimes, including attacks on civilians in Gaza using white phosphorus and precision-guided munitions. These revelations underscore the insurance industry’s role in perpetuating violence and exploitation.
“Insurance giants claim to protect communities, but they’re funnelling our money into war, exploitation, and violence,” said Monika Nielsen, lead researcher at Boycott Bloody Insurance. “This campaign demands accountability from insurers profiting from human suffering.”
The findings have already been integrated into ongoing activism efforts. The Palestinian Youth Movement, for instance, has incorporated the revelation that AIG insures global logistics company Maersk into their Mask Off Maersk campaign. Yara Derbas from the Palestinian Youth Movement stated, “Insurance, just like logistics, is crucial for arms transfers to oppressive regimes. Our actions target the corporate complicity enabling Israel’s ongoing crimes. This isn’t just about Palestine; it’s about global justice and ending corporate exploitation.”
The report has garnered support from leading organisations, including the Palestine Solidarity Campaign, the Palestinian BDS National Committee, and the Watermelon Index. It provides compelling evidence for urgent action against insurers financing systemic violence and colonisation.
The Boycott Bloody Insurance campaign brings together activists from diverse movements, including Palestinian liberation, climate justice, migrant rights, and anti-war organising. A spokesperson from The Palestine Institute for Public Diplomacy emphasised, “Ending complicity with Israeli apartheid requires targeting all industries fuelling oppression. Policyholders must know how their money is being misused and demand immediate divestment.”
The campaign is set to escalate with coordinated actions across the UK on 25 March, urging institutions, charities, and businesses to shift to ethical insurers. This report is the first in a series of four, with three additional reports due in April. These will expose the insurance industry’s ties to fossil fuel companies, controversial weapons, and the UK detention industry.
As the campaign gains momentum, it sends a clear message: the insurance industry must no longer profit from human suffering and violence. By holding these corporations accountable, activists aim to disrupt the financial pipelines that sustain oppression and pave the way for a more just and equitable world.
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