Pro-Palestine activists defaced the headquarters of a major insurer in the City of London on Monday morning, occupying part of its building. The offices of Allianz Commercial in London Gracechurch Street were sprayed with red paint and activists staged an occupation at around 6am on Monday. Activists with Palestine Action said they were taking the action in protest at Allianz’s insuring of Elbit Systems, an Israeli-based defence company. Protesters, wearing masks, hung up a banner reading: “Drop Elbit”. In a video posted by the group, one protester said: “We are here occupying Allianz Insurance [because] Allianz insure Elbit Systems. “Elbit Systems is an Israeli-owned weapons company, there are multiple Elbit Systems factories in the UK - we’re here calling for Allianz to divest from insuring Elbit Systems because Israel is currently committing atrocities and transgressing every human rights law. “After months of protesting here in London and all around the world and after 70 years of occupation of Palestine, it is time to take direct action.” The group has previously targeted other Allianz offices across Britain and Europe, including in Belfast, Glasgow and Guildford. In a statement, the insurer vowed it would not back down in the face of “criminal behaviour”. An Allianz UK spokesperson said: “We respect everyone’s right to have and express their opinion. However, we will not give in to threats and criminal behaviour that endanger the safety or security of our people, business, and property. “Our business operations and service to customers and partners have not been affected. We are working closely with the Police and we will also be taking independent legal action to address these threats.” The City of London Police confirmed it was responding to reports of criminal damage. Chief Inspector Rob Bell said: “Police are attending a protest at Allianz House on Gracechurch Street. The protesters, believed to be from Palestine Action group, have scaled the building and caused criminal damage. “The walkway underneath the building has been cordoned off to protect the public.” The latest action comes after Palestine Action used a drone to fly a Palestinian flag above Allianz’s Twickenham Stadium on Sunday for England’s game against Italy in the Six Nations Rugby Tournament.