One of the world’s largest insurance companies, it invests in many companies on the BDS divestment shortlist and used to provide employer's liability insurance for Elbit Systems.
Allianz SE, headquartered in Munich, Germany, is the holding company for Allianz Group, which is comprised of many subsidiaries across Europe, Asia, the United States, and Australia. Allianz is one of the largest insurance companies in the world and the largest insurance provider in Europe.
Allianz is invested in at least 14 major weapons companies on the BDS divestment shortlist, including BAE Systems, Boeing, Caterpillar, Elbit Systems, General Dynamics, Honeywell International, L3Harris, Leonardo, Lockheed Martin, Northrop Grumman, Oshkosh, Rheinmetall AG, Rolls-Royce, Textron, and ThyssenKrupp. These investments total more than $450 million as of February 2025, according to an analysis that looked into insurance companies’ coverage of and investments in weapons companies connected to Israel’s genocide in Gaza.
Allianz's asset management subsidiary, PIMCO, also invests in Israeli treasury bonds.
Allianz previously provided employer’s liability insurance coverage for Elbit Systems UK, the U.K. subsidiary of Israel’s largest weapons manufacturer. In December 2025, Elbit Systems UK switched its employer’s liability insurance from Allianz to Aspen Insurance. This followed a year-long campaign in the United Kingdom led by Palestine Action. However, it is unclear why Elbit Systems UK made this switch, and whether or not Allianz still insures Elbit Systems UK through other types of insurance plans, which are not publicly disclosed.