Bajaj Allianz General Insurance is a joint venture between Allianz SE, a leading global insurer, and Bajaj Finserv Limited in India. Incorporated in 2001, it has grown to be one of the largest private general insurance companies in India, serving over 140 million customers across the country.
The company offers a comprehensive suite of general insurance products catering to individuals and the corporate sector. These include Motor Insurance, covering cars, two-wheelers, and commercial vehicles with options for comprehensive coverage, third-party liability, and standalone own damage, and they also offer specialized EV insurance. Health Insurance includes a wide range of health insurance plans, including individual, family floater, critical illness, and senior citizen plans, with features like cashless hospitalization at a vast network of hospitals, and they also offer specific plans for women (HERizon Care) and pet insurance. Home Insurance protects homes and their contents against various risks like natural calamities, theft, and burglary. Travel Insurance provides coverage for both domestic and international travel, including medical emergencies, trip cancellations, and baggage loss. Commercial Insurance offers tailored solutions for businesses, including property insurance, marine insurance, engineering insurance, liability insurance, and cyber insurance. Rural Insurance includes products like Pradhan Mantri Fasal Bima Yojana to support the agricultural sector.
Bajaj Allianz General Insurance is known for its strong focus on customer centricity, aiming to provide superior value and a caring experience. They have a wide distribution network with a significant digital presence, including a user-friendly app for policy management and claims processing. The company emphasizes quick and efficient claim settlement, with some claims being settled within minutes through their digital platforms.
Latest News on Bajaj Allianz Life Insurance
Bajaj Finserv has agreed to acquire a 26% stake in Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance from Allianz.
Bajaj Finserv, a leading financial services conglomerate, has announced that it will acquire a 26% stake in its joint ventures with Allianz, Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited. The acquisition is expected to enhance the company’s control and influence over the joint ventures, enabling it to further accelerate growth and expansion plans.
The joint ventures with Allianz have been in operation since 2001 and have been a significant success, with Bajaj Finserv holding a majority stake in the companies. The 26% stake acquisition will bring the company’s total stake in the joint ventures to 51%, giving it a significant majority control and enabling it to make strategic decisions for the businesses.
The acquisition is expected to benefit both Bajaj Finserv and its joint ventures with Allianz, enabling the companies to increase their footprint in the Indian and international markets. The joint ventures have been a key growth driver for Bajaj Finserv, with a gross written premium of over Rs. 40,000 crores in the last fiscal year.
The acquisition is also expected to enhance the operational efficiency and integration of the joint ventures, enabling the companies to better leverage resources and expertise. Bajaj Finserv has a strong track record of operations and management, and its acquisition of the additional stake is likely to bring in more operational efficiency and synergies.
The deal is subject to regulatory approvals and other customary conditions, and Bajaj Finserv has secured necessary approvals from the Reserve Bank of India (RBI) and other regulatory authorities. The acquisition is expected to be completed by the second quarter of the next fiscal year.
In a statement, Sanjib Datta, Managing Director and Chief Executive Officer, Bajaj Finserv Limited, said, “The acquisition is a strategic move to further consolidate our presence in the insurance sector and leverage the opportunities in the growing Indian insurance market. We believe that our expertise and presence will enable the joint ventures to grow faster and more effectively in the market.”
Overall, the acquisition of the 26% stake in Bajaj Allianz Life & General Insurance by Bajaj Finserv is a significant move to strengthen its presence in the insurance sector and leverage the opportunities in the growing Indian market.
Bajaj Finserv shares declined today following the announcement that Allianz will be exiting its joint venture with Bajaj Insurance for a whopping Rs 24,180 crore.
Bajaj Finserv shares took a hit on Tuesday, falling over 3% as the company’s joint venture with Allianz, one of the world’s largest insurance companies, came to an end. The French insurer has sold its 26% stake in Bajaj Allianz General Insurance Company Ltd, the Indian joint venture, to existing shareholders for a cash consideration of Rs 24,180 crore.
The news sent Bajaj Finserv’s shares tumbling, with the stock opening at Rs 4,275 and eventually closing at Rs 4,150, a decline of 3.04%. The share sale, which is one of the largest in the insurance sector, values Bajaj Allianz General Insurance at around $3.4 billion.
The exit by Allianz marks an end to a 20-year partnership, which began in 2001. The joint venture was formed to operate a general insurance business in India, offering non-life insurance products such as motor, health, and travel insurance. The partnership had seen significant growth over the years, with the company emerging as one of the top insurers in India.
The sale of Allianz’s stake is expected to help Bajaj Finserv increase its stake in the joint venture to 74%, giving the company greater control over the business. However, the deal also raises concerns about the impact on the partnership’s operations and the insurance sector as a whole.
Industry experts have noted that the exit by Allianz could lead to a change in the company’s strategy, which may not necessarily be aligned with the interests of existing shareholders. Additionally, the deal could also lead to a loss of expertise and resources, which may put pressure on the company’s performance.
In a statement, Bajaj Finserv managing director and chief executive officer, PD Nar teens, said that the company is committed to maintaining its leadership position in the insurance sector and will continue to work with its customers, partners, and employees to deliver excellent products and services.
Despite the challenges that lie ahead, the Bajaj Finserv management has expressed confidence in the company’s ability to navigate the changing landscape and continue to drive growth and profitability. The company has also announced plans to use the proceeds from the deal to reduce debt and increase its investment in new business initiatives.
Allianz sells majority stake in Bajaj Insurance, wraps up 24-year partnership in €2.6 billion deal.
Allianz, a leading global insurance company, has sold its 51% stake in Bajaj Allianz Life Insurance Company Ltd, its joint venture with Bajaj Finserv, to Bajaj Finserv for €2.6 billion. This move marks Allianz’s exit from the Indian market after a successful 24-year partnership.
Allianz and Bajaj Finserv formed a joint venture in 1996 to create Bajaj Allianz Life Insurance Company Ltd, which has since grown to become one of the largest private life insurance companies in India. The joint venture aimed to provide life insurance and other financial products to the growing middle class in India.
The sale is seen as a strategic move by Allianz to rebalance its portfolio and focus on its core markets. The company is looking to divest non-core assets and recommit resources to its core businesses. The deal also aligns with Allianz’s efforts to adapt to changing market conditions and regulatory requirements.
The sale is subject to regulatory approvals, which are expected to be completed in the next few weeks. The terms of the deal were not disclosed, but it is reportedly valued at €2.6 billion, which is approximately 20% of Allianz’s total assets under management in India.
Bajaj Finserv, a prominent financial services company in India, has shown keen interest in acquiring Allianz’s stake, which gives it full ownership of the joint venture. The acquisition is a significant step forward for Bajaj Finserv, enabling it to expand its presence in the life insurance sector and strengthen its financial services portfolio.
The deal is expected to have a positive impact on both companies, as it enables Allianz to focus on its core businesses and Bajaj Finserv to leverage its expertise and resources to drive growth in the Indian life insurance market. The partnership has been highly successful, with Bajaj Allianz Life Insurance emerging as a market leader in India, offering a range of insurance products to cater to the growing demand for financial protection and wealth creation in the country.
In conclusion, the sale of Allianz’s stake in Bajaj Allianz Life Insurance Company Ltd is a strategic move by the company to rebalance its portfolio and focus on its core markets. The deal is valued at €2.6 billion and is expected to have a positive impact on both Allianz and Bajaj Finserv, enabling them to achieve their respective goals and objectives.
Prudential plc and HCL Group are collaborating on a new health insurance joint venture.
UK-based Prudential Plc has announced a plan to establish a health insurance joint venture with India’s HCL Group. The new business will have Prudential Group Holdings Limited, a UK subsidiary, holding a 70% stake, while Vama, an HCL Group company, will hold the remaining 30%. This move is part of Prudential’s expansion in the Indian insurance market, which it has been a part of since the establishment of ICICI Prudential Life Insurance in 2001.
This development comes as other players in the Indian insurance sector are making significant moves. Public sector behemoth Life Insurance Corporation of India (LIC) is in the final stages of acquiring a substantial stake in a pure health insurance company and is expected to make an announcement before March 31. There are currently seven standalone health insurance companies operating in India, including Star Health & Allied Insurance, Niva Bupa Health Insurance, and ManipalCigna Health Insurance, among others.
In another significant development, German financial services firm Allianz SE has reportedly reached a preliminary agreement with Jio Financial Services Ltd, a joint venture between Jio Platforms and a clutch of investors, to establish a joint venture covering both health and general insurance businesses. This move comes days after Bajaj Finserv and Allianz SE announced the end of their joint venture, Bajaj Allianz, in a deal worth Rs 24,180 crore. Additionally, Patanjali Ayurved has entered the insurance sector through its acquisition of Magma General Insurance from Adar Poonawalla for Rs 4,500 crore.
The Bajaj Group has acquired complete ownership of the Bajaj Allianz Life and General Insurance entities, now making it 100% owner of these insurance companies.
Bajaj Group, a leading business conglomerate in India, has acquired a 100% stake in Bajaj Allianz Life Insurance Co. and Bajaz Allianz General Insurance Co. Ltd, its two joint venture insurance businesses in India. This move comes after Bajaj Group owned 74% stake in both companies, which was previously owned by Allianz SE, a German-based global financial services group.
The acquisition is seen as a strategic step by Bajaj Group to further strengthen its presence in the Indian insurance market, which is one of the fastest-growing insurance markets in the world. With this deal, Bajaj Group will have full control over the overall strategy, direction, and decision-making process of the insurance businesses, which will enable it to align the companies’ operations more closely with its own goals and objectives.
The transaction is expected to bring several benefits to both the companies, including enhanced operational efficiency, improved customer services, and increased investment in products and services. Bajaj Group is already a well-established player in the Indian market, with a strong brand presence and wide distribution network. The acquisition will enable the group to leverage its strengths to further grow its insurance business and expand its reach to a wider customer base.
The deal is also expected to create opportunities for the group to diversify its products and services, including expansion into new segments such as health insurance, personal accident insurance, and travel insurance. Moreover, the group will be able to use its expertise in motor and two-wheeler insurance to expand its presence in the mass market segment.
The direct ownership will also enable the group to make key strategic decisions, invest in new technology, and innovate products and services to remain competitive in the market. With this acquisition, Bajaj Group will become one of the largest private sector insurance companies in India, with a combined annual premium income of over Rs. 20,000 crores (approximately $2.5 billion).
The transaction is expected to conclude by the end of 2022, subject to regulatory approvals. The deal is seen as a significant milestone in Bajaj Group’s history, marking a major step towards its vision of becoming a leading insurance player in India. With this acquisition, Bajaj Group is poised to play a significant role in shaping the future of the Indian insurance industry and creating new opportunities for its customers, partners, and employees.
A comprehensive insurance plan catering to expectant mothers: ‘PregnancyGuard’ – Providing tailored coverage for prenatal care, hospital stays, and newborn care, starting at $99 per month.
This article provides an overview of maternity insurance plans in India, which cover pregnancy-related expenses, including prenatal care, delivery, and postpartum care. The article highlights the importance of having maternity insurance, as these plans can help with the significant medical expenses associated with pregnancy and childbirth.
The article then reviews some of the best maternity insurance plans available in India, including Aditya Birla Activ Health Platinum – Enhanced Plan with Maternity Cover, Bajaj Allianz Health Guard Family Floater Health Insurance Plan with Maternity Cover, Care Health Joy Health Insurance Plan with Maternity Cover, Chola MS Family Healthline Insurance Plan with Maternity Cover, and Bharti AXA Smart Super Health Insurance Plan with Maternity Cover.
The article also provides a list of factors to consider when selecting a maternity insurance plan, including the level of coverage, waiting periods, premium costs, network of hospitals, and exclusions. Additionally, it highlights the importance of reviewing the plan’s terms and conditions, including waiting periods and exclusions.
The article concludes by emphasizing the importance of having the right maternity health insurance plan, which can provide comfort and financial stability during this critical time.
Overall, the article is informative and provides a comprehensive overview of the best maternity insurance plans available in India, as well as the factors to consider when selecting a plan. This information is valuable for expectant or new parents who are looking to purchase a maternity insurance plan to cover their medical expenses.
Bajaj Finserv is reported to acquire Allianz’s 26% stake in its life and general insurance business.
Bajaj Finserv has agreed to buy out Allianz’s 26% stake in their life and general insurance joint ventures, Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance, for approximately Rs 24,000 crore (€2.6 billion). This sale marks Allianz’s exit from its Indian insurance joint ventures after 24 years.
The deal is part of Allianz’s global strategy to reduce its stakes in non-core businesses and focus on its core insurance operations. Bajaj Finserv, on the other hand, plans to maintain its majority stake in the joint ventures and continue to operate the businesses under the Bajaj Allianz brand.
The acquisition is significant for Bajaj Finserv, as it will enable the company to take full control of its insurance businesses and integrate them into its existing portfolio. It will also provide Bajaj Finserv with an opportunity to expand its reach and customer base.
Allianz has been a partner in the Indian insurance market since 1996, and its joint ventures with Bajaj Finserv have been among the top-performing insurance companies in India. However, the company has been looking to streamline its operations and focus on its core businesses.
The deal is subject to regulatory approvals and other customary closing conditions, and is expected to be completed by the end of 2023. The sale is seen as a strategic move by Allianz to optimize its global portfolio and increase its financial flexibility.
In conclusion, the deal between Bajaj Finserv and Allianz marks a significant development in the Indian insurance industry, with Allianz exiting its Indian insurance joint ventures after 24 years and Bajaj Finserv gaining full control of its insurance businesses. The deal is expected to have a positive impact on both companies, enabling Bajaj Finserv to expand its reach and customer base, while Allianz can focus on its core insurance operations.
According to recent data, the total new business premiums collected by life insurers decreased by 12% in February, with LIC at the forefront of this trend.
New business premiums of life insurance companies in India continued to decline in February, marking the fourth consecutive month of decline since the new surrender value guidelines came into effect in October 2024. The data from the Life Insurance Council showed that new business premium (NBP) stood at Rs 29,985.58 crore, a 12% year-on-year decline from Rs 33,913.18 crore in the same period last year. The decline was led by Life Insurance Corporation of India (LIC), the country’s largest life insurer, which saw its monthly premium decline 22% to Rs 15,513.95 crore.
LIC’s CEO, Siddhartha Mohanty, acknowledged that the new surrender value norms had impacted premium collections, and while collections were expected to improve in the fourth quarter, the decline worsened in February with a 14% year-on-year decline in January. To mitigate the impact, life insurers have been adopting measures such as reducing first-year commissions on new policies and clawing back agent commissions if policies are surrendered within the first two years.
In contrast, private life insurance companies witnessed a modest 3% year-on-year growth in NBP to Rs 14,471.62 crore. HDFC Life Insurance saw a 24% rise in NBP to Rs 3,213.76 crore, while SBI Life Insurance recorded an 18% decline to Rs 2,174.53 crore. ICICI Prudential Life Insurance grew 5% to Rs 1,857.05 crore, and Bajaj Allianz Life Insurance reported a 3% increase to Rs 1,080.33 crore. The industry sold 1.9 million policies during the month, down from 2.2 million in the same period last year.
Bajaj Allianz Japan, a provider of innovative health insurance solutions, is proud to introduce ‘HERizon Care’, a pioneering comprehensive health insurance plan designed specifically for the unique needs of Indian women.
Bajaj Allianz General Insurance has launched a groundbreaking policy called HERizon Care, which offers two comprehensive covers: Vita Shield and Cradle Care. Vita Shield is designed to provide critical illness and holistic wellness protection, covering 34 critical illnesses, including female-specific conditions. It also offers optional extensions, such as coverage for child education, loss of job, and incidental expenses, as well as a holistic wellness ecosystem.
Cradle Care, on the other hand, is designed to support women’s reproductive health journeys, including coverage for surrogate mothers, oocyte donors, and egg freezing. It also offers optional covers for infertility treatment, adoption expenses, and prenatal health.
This policy is unique in its approach to women’s health, addressing specific challenges that women face, such as infertility, surrogacy, and reproductive health issues. The policy also offers legal expenses for sexual assault, kidnapping, and acid attacks.
According to Bajaj Allianz General Insurance’s MD and CEO, Mr. Tapan Singhel, “HERizon Care is about more than just coverage – it’s about care, dignity, and making sure no woman feels alone when it comes to her health.”
The policy is available for women aged 18 to 80 years and children from day 90 to 35 years, with sum insured options ranging from INR 3 lakhs to INR 2 crores. It operates on an individual sum insured basis with policy periods of 1 to 5 years, offering flexible payment options and lifelong renewals.
Aviva selects AutoRek’s automated reconciliation solution to streamline their operations
Aviva, a leading insurance, wealth, and retirement business in the UK, has chosen AutoRek, a leading provider of automated reconciliation solutions, to implement a seamless and compliant reconciliation and CASS (Client Assets, Responsibilities, and Securities) process. This collaboration aims to increase efficiency and compliance by automating the reconciliation process, providing complete transparency for CASS auditors and internal stakeholders.
With AutoRek’s end-to-end platform, Aviva will be able to streamline its client money and regulatory reporting, reducing the manual effort and risk associated with manual processing. This will enable Aviva to reduce operational inefficiencies, streamline compliance, and enhance overall financial control.
Chris Golland, Head of CASS & Middle Office at Aviva, emphasizes the company’s commitment to investing in technology to drive growth, saying, “Following an extensive tender process, we were impressed with the quality of the AutoRek tool. The implementation of the AutoRek solution will streamline our processes and allow us to confidently address future scalability and volume requirements.”
Jack Niven, VP of Sales at AutoRek, expresses excitement to onboard Aviva as a client, stating, “We’re thrilled to work with Aviva, empowering them to achieve greater efficiency and accuracy in their operations. Together, we’re driving innovation and setting new benchmarks for financial excellence.”
The Aviva executive warns of an impending surge in chronic injury claims.
Declan O’Rourke, the CEO of Aviva Ireland’s general insurance business, has been involved in the industry for over three decades. He has experience working in various insurance companies, including AIG, where he spent 27 years before becoming the CEO of Aviva Ireland. In his current role, he is responsible for leading the company’s general insurance business, which includes a range of products such as car, home, and commercial insurance.
O’Rourke has been instrumental in the launch of Level Health, a new health insurance company that is a joint venture between Aviva and the founders of Vivas Health, which was acquired by Aviva in 2008. The new company offers a range of health insurance products, including four different plans, and is designed to be a simple and straightforward alternative to the more complex and expensive insurance options available in the Irish market.
In an interview, O’Rourke discussed the challenges facing the insurance industry in Ireland, including the high level of claims in the personal injury claims sector. He also spoke about the need for the industry to be more competitive and efficient, with fewer providers, and for the government to take a more active role in addressing the issue of fraudulent claims.
O’Rourke also highlighted the importance of insurance in times of crisis, such as after natural disasters like storms, and the need for insurance companies to be involved in the response efforts. He also spoke about the company’s environmental initiatives, including their sponsorship of the Lansdowne Road stadium, which has helped to raise awareness for important environmental issues.
In his personal life, O’Rourke is a family man who enjoys spending time with his five children, who are all involved in sports. He is also a keen mentor and coach, and coaches a youth hurling team in his spare time. His favorite film is “The Godfather” and he is currently reading a book called “The Rodfather” by Roddy Collins.
A warning has been issued to residents to prepare for potentially hazardous weather conditions, with freezing temperatures and a risk of flooding on the horizon.
As the UK prepares for a cold snap, residents are being advised to take precautions to protect themselves and their homes from the effects of freezing temperatures. Aviva, a leading insurance provider, has issued a list of steps to help residents stay safe and prevent damage to their homes and belongings.
The cold weather is expected to bring a range of issues, including frozen pipes, snow, and ice, as well as the risk of flooding as snow thaws. Aviva’s head of home claims, Laura Lazarus, emphasized the importance of taking precautions to prevent damage to homes and businesses.
The company has prepared a list of steps to help residents stay safe, including insulating exposed pipes, repairing leaky taps, and knowing where the stopcock is located in case of an emergency. Residents are also advised to sign up for flood warnings and prepare an emergency kit in case they need to evacuate their home.
If a pipe does burst, Aviva has provided a step-by-step guide on how to handle the situation, including turning off the water supply, locating the frozen pipe, and carefully thawing it using a hairdryer or warm towels. If the pipe is damaged, residents should turn off the power and call a qualified electrician to assess the situation.
Aviva is reminding customers to review their home insurance documents and register their claims online or through the MyAviva app if they experience damage to their home or belongings. The company’s claims team is on standby to help customers get their lives back to normal as quickly as possible.
Overall, Aviva is urging residents to take proactive steps to prepare for the cold weather and to be prepared in case of an emergency. By following these simple steps, residents can help minimize the impact of the cold snap and keep themselves and their homes safe.
According to the latest settlement ratios, Axis Max and HDFC secured the top spots with an impressive 99% rate, while Reliance Nippon trailed slightly behind at 94%.
The article discusses the importance of claim settlement ratio when it comes to life insurance, as it helps policyholders understand how likely an insurer is to honor their claims. The claim settlement ratio is the percentage of claims that an insurance company pays out of the total claims received. A higher claim settlement ratio is generally preferred, as it indicates that the insurer tends to honor most claims quickly and effectively.
The Insurance Regulatory and Development Authority of India (IRDAI) releases an annual handbook of Indian Insurance Statistics, which provides claim settlement ratios for all life insurers in the country. The data for 2023-2024 shows that the overall claim settlement ratio for the life insurance industry in India was 96.82%, with individual private life insurers having a higher claim settlement ratio of 99%.
The article also examines the claim settlement ratio of individual life insurers, with some companies, such as Kotak Mahindra, Ageas Federal, Future Generali, and Aviva, having a 100% claim settlement ratio. Other insurers, such as LIC, Axis Max Life, and HDFC, also have a high claim settlement ratio, with 96.42%, 99.79%, and 99.97%, respectively.
In addition to the claim settlement ratio, the article also discusses the claim settlement ratio by benefit amount, which measures the percentage of total claim benefit amount paid out within 30 days. HDFC has the highest claim settlement ratio by benefit amount, with 99.98%, followed closely by Axis Max Life with 99.97%.
In conclusion, the claim settlement ratio is an important factor to consider when choosing a life insurance company, as it indicates the likelihood of the insurer honoring claims. While a high claim settlement ratio is generally preferred, it is important to consider other factors such as coverage and premium payable as well.
HDFC, Max Life, and LIC have a superior track record when it comes to processing and settling claims.
The Insurance Regulatory and Development Authority of India (IRDAI) has released its annual report on the Claim Settlement Ratio (CSR) for 2023-24, which provides information on how different insurers handle claims. The overall CSR for individual death claims within 30 days, including both private insurers and Life Insurance Corporation of India (LIC), stood at 96.82%. The report highlights the performance of various life insurers in India.
Axis Max Life Insurance Limited, a private insurer, topped the list with a CSR of 99.79% in terms of number of policies, settling 19,569 policies within 30 days. HDFC Life Insurance Company Limited was second, with a CSR of 99.97%, settling 19,333 policies within 30 days. LIC, India’s largest public-sector insurer, topped the list in terms of the number of policies settled, with 7,99,612 policies settled within 30 days.
Some private insurers achieved 100% CSR, including Kotak Mahindra Life Insurance Company Limited, Ageas Federal Life Insurance Company Limited, Future Generali India Life Insurance Company Limited, and Aviva Life Insurance Company India Limited. HDFC Life Insurance and Axis Max Life Insurance topped the list in terms of CSR by benefit amount, with 99.98% and 99.97% of the total benefit amount paid out for claim settlement within 30 days, respectively.
The report also highlighted that private insurers led the list with the highest CSR (99%) in terms of the number of policies settled, with 1,51,770 policies settled within 30 days. The combined CSR of LIC and private insurers in India stood at 96.82%, with 9,51,382 policies settled within 30 days. The total benefit amount paid by private insurers in FY24 was Rs 10,038.72 crore, with 97.58% paid within 30 days.
Aviva, the UK’s second-largest insurance provider, has launched legal action against Palestine Action.
Protesters from Palestine Action have targeted the Manchester office of Aviva, an insurance company, by occupying the entrance and causing minor damage. The protest began at 7am on March 11, 2023, and some protesters even climbed on top of the revolving doors and hung Palestinian flags on the wall. Aviva has stated that it will take legal action in response to the protest, which has not affected service to customers.
This is not the first time Palestine Action has targeted Aviva, as the group also targeted the company’s office in Bristol in January. In a similar protest on March 10, 2023, protesters targeted Allianz’s London office, scaling the canopy above the entrance and leaving a trail of red paint and Palestinian flags.
Both Aviva and Allianz have condemned the protests, stating that while they respect the right to protest, they will not tolerate threats and criminal behavior that put people’s safety and security at risk. Both companies have also emphasized that their business operations and customer service have not been affected.
However, Palestine Action has stated that Aviva and Allianz directly enable the production of Israeli weapons in Britain by providing insurance to Israeli weapons factories. The group has vowed to continue taking direct action until these companies cease their ties with Elbit Systems, a company that produces military equipment for the Israeli military. The protests are a PR stunt to raise awareness about Israel’s treatment of the Palestinian people and the role that international corporations play in supporting the Israeli military.