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On Monday, Indian HDFC life insurance said, They got some instances of data leaks. “We have received communication from an unknown source, who has shared certain data fields of our customers with us, with mala fide intent,” HDFC Life said in a regulatory filing.
The company has started to security assessment to the issue with information security experts to protect customer interests.
HDFC Life hit by data breach, begins investigation
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A data theft incident has occurred just two months after Star Health, a major health insurer, experienced a cyberattack. In September, millions of customer records were sold on Telegram, exposing sensitive information like medical records, addresses, and phone numbers. The hacker, who claimed to have 7.24 TB of data, including six million claims records, later shared these details on a personal website. Tata AIG is another insurance company which faced a data leak.
Last month, the Insurance Regulatory and Development Authority of India (Irdai) instructed two insurers to audit their IT systems due to recent data leaks affecting policyholders. While the insurers were not named, Irdai emphasized its commitment to addressing data breaches and protecting policyholders’ interests.
HDFC Life’s total premium collection increased by 12% year-on-year to ₹29,738 crore in H1FY25, with policies sold rising by 22% to 582,000. The company did not respond to inquiries about the impact of a data breach or the extent of compromised customer data.
HDFC Life shares closed at ₹688.90 on the NSE on Monday.
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