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AXA is a global insurance and asset-management corporation headquartered in France. For years, it held significant investments in Israeli banks—such as Bank Hapoalim, Bank Leumi, Israel Discount Bank, Mizrahi-Tefahot, and First International Bank of Israel—that are listed by the U.N. as complicit in financing illegal settlements in the occupied West Bank. AXA was also an investor in Elbit Systems, Israel’s largest arms manufacturer, which produces weaponry used in military operations in Gaza and the West Bank.
Under mounting pressure from BDS-aligned campaigners (notably the Stop AXA Assistance to Israeli Apartheid coalition), AXA completed full divestment from these banks and Elbit Systems by mid‑2024, selling over $20 million in shares across all three remaining complicit institutions.