Data breach at Allianz Life Insurance affects 1.4 million customers
The Minneapolis-based company, a subsidiary of Allianz SE based in Munich, reported that the breach occurred on 16 July via a third-party cloud service.
In a statement, Allianz Life indicated that a 'malicious threat actor' gained access to the external platform through social engineering, a method whereby attackers deceive individuals into revealing sensitive information or access credentials.
'The threat actor was able to obtain personally identifiable data related to the majority of Allianz Life's customers, financial professionals and select Allianz Life employees,' the statement noted.
While the specifics of the compromised data have not been detailed, such breaches typically involve personal details such as names, contact information, social security numbers and financial data.
Notably, Allianz Life clarified that its internal systems were not affected.
'This incident was limited to a third-party cloud platform. Our systems remain secure,' a spokesperson for the company stated.
In response to the incident, Allianz Life reported that it took immediate measures to contain the breach and has informed the FBI.
The incident has also been reported to various authorities including the Office of the Maine Attorney General, as companies are mandated to disclose data breaches that impact residents of the state.
According to a filing with the Maine Attorney General's office, Allianz became aware of the breach the day after it occurred and is providing affected individuals with 24 months of complementary credit monitoring and identity theft protection services.
The breach is limited to Allianz Life's operations in the US and does not extend to other Allianz corporate entities worldwide.
The company has informed the FBI about the incident and indicated that its ongoing investigation has found no evidence that its internal network or other systems including the policy administration system were compromised.
In May this year, Allianz reported a net income of €2.42bn ($2.82bn) for the first quarter of 2025 (Q1 2025), a 2.1% decrease from €2.47bn in Q1 2024.
However, the German insurer's operating profit increased by 6.3% to €4.2bn, up from €3.9bn the previous year.
The property-casualty segment contributed €2.1bn with a 5% rise in operating profit, while the life/health segment saw a 7.5% increase to €1.4bn.
"Data breach at Allianz Life Insurance affects 1.4 million customers" was originally created and published by Life Insurance International, a GlobalData owned brand.
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