Minnesota Manufacturing Awards: Minnetronix Medical partners with startups to bring innovative medical devices to market
The Minneapolis/St. Paul Business Journal is seeking nominations for our 29th annual Fast 50 awards, recognizing the Twin Cities fastest-growing private companies.
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Allianz Life discloses massive data breach linked to supply-chain attack
This story was originally published on Cybersecurity Dive. To receive daily news and insights, subscribe to our free daily Cybersecurity Dive newsletter. Allianz Life Insurance Company of North America on Friday disclosed a massive data breach affecting most of the firm's 1.4 million U.S. customers, professionals and select employees. In a statement, the Minneapolis-based insurance provider said a hacker used social engineering to breach one of its cloud vendors on July 16 and steal most of its customers' personally identifiable information. The company said it discovered the intrusion the next day. The breach was the result of a social engineering attack, according to the company's filing with the Maine Attorney General's office. Allianz said it responded immediately after discovering the hack and notified the FBI. The disclosure follows a months-long international attack spree linked to the cybercrime collective Scattered Spider, which has used voice phishing techniques to target a range of industries, including insurance providers. Last week, Philadelphia Indemnity Insurance disclosed a massive breach. And in June, Aflac and Erie Insurance disclosed that they had fallen victim to cyberattacks. Allianz Life, a subsidiary of the German firm Allianz SE, said it had no evidence that the hacker had accessed the company's own computer networks, including its policy administration system. The company's filing with the Maine AG's office includes a placeholder copy of its breach notice, with the company promising to share a full copy of the letter once it identifies all of the affected customers
Yahoo
5 hours ago
- Yahoo
Allianz Life discloses massive data breach linked to supply-chain attack
This story was originally published on Cybersecurity Dive. To receive daily news and insights, subscribe to our free daily Cybersecurity Dive newsletter. Allianz Life Insurance Company of North America on Friday disclosed a massive data breach affecting most of the firm's 1.4 million U.S. customers, professionals and select employees. In a statement, the Minneapolis-based insurance provider said a hacker used social engineering to breach one of its cloud vendors on July 16 and steal most of its customers' personally identifiable information. The company said it discovered the intrusion the next day. The breach was the result of a social engineering attack, according to the company's filing with the Maine Attorney General's office. Allianz said it responded immediately after discovering the hack and notified the FBI. The disclosure follows a months-long international attack spree linked to the cybercrime collective Scattered Spider, which has used voice phishing techniques to target a range of industries, including insurance providers. Last week, Philadelphia Indemnity Insurance disclosed a massive breach. And in June, Aflac and Erie Insurance disclosed that they had fallen victim to cyberattacks. Allianz Life, a subsidiary of the German firm Allianz SE, said it had no evidence that the hacker had accessed the company's own computer networks, including its policy administration system. The company's filing with the Maine AG's office includes a placeholder copy of its breach notice, with the company promising to share a full copy of the letter once it identifies all of the affected customers Sign in to access your portfolio
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9 hours 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.
