Allianz says it won’t insure East African oil pipeline project

German insurer Allianz SE has confirmed that it will not provide direct insurance to the East African Crude Oil Pipeline meant to transport oil between Uganda and Tanzania, Global Construction Review reported. With this, Allianz has joined other insurers and reinsurers, including Munich Reinsurance Co. and Axa SA, in refusing to cover the 897-mile long pipeline, which will be operated by oil and gas companies TotalEnergies SE and CNOOC Uganda Ltd.