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7 billion in insurance money for weapons
Eight of the ten major life insurers invest billions of euros in Netherlands in the armaments industry.
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Of those investments-a total of almost 7 billion euro-benefit countries like Saudi Arabia, Nigeria and Bahrain.
That emerges from research that Fair Insurance index has done to insurers that are active on the Dutch market. For years from a variety of polls show that a large majority of the Dutch investment by banks, insurers and pension funds in the arms trade (very) unacceptable.
Companies that in tanks, bombs, missile systems and cruise missiles, are investing according to research include Allianz, Legal & General, APG, Aegon, the Nationale Nederlanden Group, Generali and, to a lesser extent, Delta Lloyd and SNS Reaal. Of the businesses surveyed not only invested Achmea and ASR in such companies.
Cluster bombs
ll eight insurers sticking money in companies which, for example, combat helicopters, cluster bombs or radar systems supplied or still go to Saudi Arabia, "said Suzanne OBE of peace organisation PAX Insurance on behalf of the Fair Guide. "This country recently banned cluster munitions used in Yemen and is known for its lousy human rights situation. There do you want to be the decent insurer not involved? "
Arms manufacturers as Lockheed Martin, BAE Systems and Airbus between 2010 and 2014 would have weapons and systems delivered to dictatorships and corrupt countries. These companies were supported by insurers from Netherlands.
Arms embargo
Starting point of the research is that insurers should not invest in companies that arms trade with countries against which an arms embargo applies, unfree countries, countries where armed conflicts, vulnerable and corrupt States and poor countries that spend an excessive portion of their budget to military spending.
Victorious: "we call insurers to stop with this type of investment. This way we prevent that weapons fall into the wrong hands. "
Research by the times also show that pension funds invest heavily in weapons still. Thus, according to the newspaper the ABP have invested 1.1 billion euros in the arms trade.
Response APG
One of the companies that are under fire in the research of the Fair Insurance pointer is APG. The company confirms that it is almost 1 billion investing in companies that also make weapons. "We invest in large industrial companies that also defence activities. In doing so, they violated the law, "said a spokesman.
He refers to Governments that always must send an export licence. "In deciding whether a permit may be issued, the human rights situation in the host country."
The spokesman calls the Fair Insurance pointer a classic case of a club which is quite idealistic and collides with the reality. "It's not as black and white. We try to be as responsible as possible, to invest in order to get the highest possible return. We are not blind to human rights violations. APG also invests for pensions of policemen and soldiers. That would not be able to carry out their task without weapons. "
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