Revealed: How a German-US corporate giant became the world’s largest foreign financier of Israel’s wars Submitted by Sebastian Shehadi on Thu, 06/18/2026 - 12:02 Munich-based Allianz and California subsidiary have amassed at least $2.67bn in Israeli government bonds since 2024 An Israeli soldier during a West Bank raid in December 2025. Israeli government bond sales have helped fund the country's wars (Zain Jaafar/AFP) Off At the height of Israel 's military campaign in Gaza , one company became the single largest foreign financier of the Israeli state – holding more in Israeli government bonds than the US , the UK , France and every other country put together. That company is Allianz, the German insurance and financial services giant, alongside its California-based bond management subsidiary PIMCO, the world's largest active bond manager.