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an hour ago
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Data breach at Allianz Life Insurance affects 1.4 million customers
Allianz Life Insurance Company of North America has announced a significant data breach impacting the personal information of a large portion of its 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. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
a day ago
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UnitedHealth Group Incorporated (UNH) Expands Rural Care with $7M in Maternal Health Grants
We recently compiled a list of It is the largest U.S. health insurer, operating through its insurance arm (UnitedHealthcare) and health services division (Optum). It serves over 50 million people and continues to focus on transforming care delivery through value-based care, integrated services, and investments in social determinants of health. In May 2025, Stephen J. Hemsley returned as CEO, replacing Andrew Witty. The leadership shift comes amid uncertainty, with the company withdrawing its 2025 financial outlook but reaffirming its long-term goals of improving healthcare access, quality, and affordability. UNH is expanding care access, particularly for underserved and rural populations. Through the UnitedHealth Foundation, the company partnered with Cherokee Health Systems to improve rural prescription delivery. It also committed $7 million in grants to maternal and infant health, and its affordable housing-linked health investments reached $1.2 billion. A major project in Minneapolis will include 83 housing units and a new health center expected to serve 3,000 additional patients annually. For 2025, UnitedHealth Group Incorporated (NYSE:UNH) introduced 140 new Medicare Advantage plans, expanding support for chronically ill and dual-eligible populations. The Chronic Special Needs Plans (C-SNPs) will significantly increase coverage. Optum plans to serve 650,000 more patients under value-based care, leveraging AI tools to enhance coordination and preventive care. 15 States with the Best Healthcare in the US Optum is deepening its home-care services following its 2023 acquisition of LHC Group and now aims to acquire Amedisys. If approved, the deal would give Optum major market share in several states. However, the Department of Justice is reviewing the merger for potential antitrust violations. While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
2 days ago
Allianz Life confirms data breach affecting majority of 1.4M US customers
MINNEAPOLIS -- Hackers gained access to personal data on the majority of the 1.4 million customers of Allianz Life Insurance Company of North America, the company confirmed Saturday. Minneapolis-based Allianz Life, a subsidiary of Munich, Germany-based Allianz SE, said the data breach happened on July 16 when a 'malicious threat actor' gained access to a third-party, cloud-based system used by the company. '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, using a social engineering technique,' Allianz Life said in a statement. "We took immediate action to contain and mitigate the issue and notified the FBI." The company said its own systems were not accessed, just the third-party's platform. Allianz Life said its investigation is ongoing and that the company has begun reaching out to the impacted individuals. It said the incident involves only Allianz Life in the U.S., not other Allianz corporate entities. In the case of data breaches, a 'social engineering technique' usually involves using trickery to gain access. Spokesman Brett Weinberg said he couldn't provide details because they are still investigating. Allianz Life also reported the breach to multiple other authorities, including the Maine Attorney General's Office. A filing on the agency's website said the company discovered the breach the day after it happened, and that it will be offering those affected 24 months of identity theft protection and credit monitoring. Allianz Life was known as North American Life and Casualty until it was acquired by German conglomerate Allianz SE in 1979 and changed its name to Allianz Life Insurance Company of North America. It has nearly 2,000 employees in U.S., with the majority working in Minnesota, according to its website. It is one of five North American subsidiaries of the Munich-based global financial services group Allianz SE, which says it serves more than 125 million customers worldwide.
