Latest news with #AllianzSE
USA Today
2 days ago
- Business
- USA Today
A majority of customers' personal information stolen in data breach at Allianz Life
Allianz Life experienced a cyberattack earlier this month, resulting in the theft of personal information for the majority of its 1.4 million customers, financial professionals and some employees in the United States. The insurance giant confirmed to USA TODAY on July 28 that hackers used a social engineering technique on July 16 to gain access to a "third-party, cloud-based" system used by the company. "We took immediate action to contain and mitigate the issue and notified the FBI," Brett Weinberg, a spokesman for Allianz Life, said in a statement. Allianz revealed the data breach on July 26 in a legally required filing with Maine's attorney general, as first reported by TechCrunch, but did not disclose the number of customers affected. The insurance company has been contacting individuals whose data was compromised and is expected to notify all affected customers by Aug. 1. According to the filing, the company is offering "24 months of identity theft restoration and credit monitoring through Kroll" to those affected. Allianz officials told Reuters that there is no evidence to suggest that the company's network or other systems were accessed, including its policy administration system. How many people are employed by Allianz Life? According to its website, Allianz Life Insurance of North America employs approximately 2,000 people in the United States, with headquarters located in Minnesota. Where is Allianz located? Allianz Life is one of five affiliate companies of Allianz in North America, as stated on the company's website. Allianz SE, a Munich-based global financial services group, acquired North American Life and Casualty in 1979 and changed its name to Allianz Life Insurance Company of North America. Allianz SE serves over 125 million customers worldwide. How many people are affected by the data breach? The company has not provided the exact number of customers impacted by the breach. In a statement, Allianz Life said the hackers were able to obtain "personally identifiable data" of the majority of the company's customers in the United States. There are about 1.4 million Allianz Life customers in the country.
Yahoo
3 days ago
- Business
- Yahoo
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.
Daily Mail
4 days ago
- Business
- Daily Mail
Millions of Americans' personal data stolen in data heist
Hackers have gained access to hundreds of thousands of people's personal data after Allianz Life Insurance Company was breached. Minneapolis-based Allianz Life, a subsidiary of Munich, Germany-based Allianz SE, said the data breach affected the majority of its 1.4 million customers. The data heist occurred on July 16 when a 'malicious threat actor' gained access to a third-party, cloud-based system. It was discovered the following day. '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 insurance giant said it notified the FBI and, based on its ongoing investigation, that there is no evidence the Allianz Life network or other company systems were accessed, including their policy administration system — just the third-party platform. The insurance giant's filing with Maine's attorney general did not indicate the number of customers affected. In the case of data breaches, a 'social engineering technique' usually involves using trickery to gain access.
Daily Mail
4 days ago
- Business
- Daily Mail
Thousands of Americans' personal data is stolen in huge Allianz Life data heist
Hackers have gained access to hundreds of thousands of people's personal data after Allianz Life Insurance Company was breached. Minneapolis-based Allianz Life, a subsidiary of Munich, Germany-based Allianz SE, said the data breach affected the majority of its 1.4 million customers. The data heist occurred on July 16 when a 'malicious threat actor' gained access to a third-party, cloud-based system. It was discovered the following day. '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 insurance giant said it notified the FBI and based on its ongoing investigation that there is no evidence the Allianz Life network or other company systems were accessed, including their policy administration system - just the third-party 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 US, not other Allianz corporate entities. The insurance giant's filing with Maine's attorney general did not indicate the number of customers affected. 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.
4 days ago
- Business
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.
