Palestine Youth Movement’s (PYM) “Mask Off Maersk” campaign has launched a determined effort to expose and disrupt the shipping giant, Maersk, and its role in transporting weapons to Israel. By targeting logistics companies that facilitate the global arms trade, PYM aims to sever a critical link in the supply chain that supports Israeli military actions in Palestinian territories. However, recognising that logistics alone is not enough, PYM has joined forces with a new campaign called Boycott Bloody Insurance (BBI), which seeks to leverage the insurance industry’s influence to further restrict the movement of arms.
Maersk’s Role in the Arms Trade
Since October 2023, Maersk has been identified as a key player in shipping over $300 million of arms components destined for US defence manufacturers such as Northrop Grumman, Woodward, RTX (formerly Raytheon), and Lockheed Martin. These companies integrate the components into advanced weapons systems, many of which are then sold to Israel. Given that approximately 68% of Israel’s weapons imports originate from the United States, Maersk’s involvement in this supply chain is seen as a crucial enabler of military operations in Gaza.
Nadya Tannous of PYM has emphasised that without Maersk’s logistical services, these weapons would not reach Israel as efficiently. By cutting off this supply chain, the campaign aims to limit Israel’s access to weapons used in ongoing attacks on Palestinian civilians.
Introducing Boycott Bloody Insurance: Targeting AIG
While PYM’s campaign has primarily focused on logistics, the newly launched Boycott Bloody Insurance (BBI) campaign is highlighting the often-overlooked role of insurers in enabling unethical corporate behaviour. BBI has partnered with PYM to target American International Group (AIG), Maersk’s primary insurer. By pressuring AIG to cut ties with Maersk, activists hope to make it riskier and more costly for the shipping giant to continue facilitating arms shipments.
AIG is also the insurer of Barclays Bank, another major target of pro-Palestine activists due to its financial ties with Israeli arms manufacturers. This makes AIG an especially strategic target, as cutting off its services to companies like Maersk and Barclays would significantly disrupt industries profiting from Israel’s military actions.
Why Insurance is a Powerful Leverage Point
Insurance companies offer a unique and effective leverage point for activists because they have little financial incentive to remain loyal to any single client. Unlike logistics firms, which depend on maintaining long-term shipping contracts, insurers operate with a broad, diverse portfolio of clients across multiple industries. Any single industry—such as shipping or defence—typically accounts for well under 2% of an insurer’s total premiums, meaning that insurers can drop controversial clients without suffering significant financial losses.
This dynamic makes insurance firms a particularly important leverage point. If an insurer perceives a reputational or regulatory risk from insuring a company like Maersk, it is more likely to sever ties rather than risk losing business from other, less controversial clients. In past campaigns, companies such as AXA and Allianz have faced similar pressures and ultimately pulled their coverage from controversial defence and infrastructure firms linked to war crimes and human rights violations.
Campaign Objectives and Strategies
Together, PYM and BBI have outlined a coordinated strategy with three main objectives:
- End Maersk’s Transportation of Arms and Components: By pressuring Maersk’s insurer, activists seek to make it more expensive and legally complex for the shipping giant to continue its role in arms logistics.
- Push AIG to Drop Maersk and Barclays: By cutting AIG’s ties to unethical clients, the campaign aims to make it more difficult for these companies to operate within the global financial system.
- Leverage Insurance Industry Influence: By demonstrating that insuring arms logistics is a liability, the campaign hopes to set a precedent that discourages other insurance firms from taking on similar clients.
The campaign employs a multifaceted approach, including public protests, shareholder activism, legal challenges, and coalition-building with labour unions and student movements. By targeting both the logistical and financial underpinnings of the arms trade, PYM and BBI are widening the scope of corporate accountability.
The Global Context and Growing Pressure on Insurers
The campaign against Maersk and AIG is part of a broader global movement that has already seen success in forcing companies to sever ties with the arms trade. In recent months, European financial institutions such as Italy’s UniCredit and Norway’s Storebrand have withdrawn from Israeli-linked investments due to mounting legal and reputational concerns. Similar pressures have led firms like Allianz and the Ireland Strategic Investment Fund (ISIF) to divest from arms-related industries.
Regulatory scrutiny is also intensifying. The US Federal Maritime Commission recently launched an investigation into Spain’s alleged obstruction of American-flagged vessels carrying military equipment to Israel. Such developments underscore the increasing willingness of both governments and regulatory bodies to examine the ethical and legal implications of arms transportation and financing.
Expanding the Movement
The partnership between PYM and Boycott Bloody Insurance represents a significant expansion of activist strategies targeting corporate complicity in war crimes. By combining logistics and insurance pressure, the movement is attacking the arms trade at multiple points of vulnerability. Insurers like AIG, with their broad portfolios and minimal financial reliance on any single client, present a particularly effective target for campaigns seeking systemic change.
As the campaign gains traction, its success could pave the way for broader financial industry shifts, making it increasingly difficult for unethical companies to operate without scrutiny. By strategically leveraging corporate vulnerabilities, PYM and BBI are setting a new standard for holding businesses accountable in the fight for Palestinian liberation.