On July 16, a significant data breach compromised the personal information of the majority of Allianz Life Insurance Company of North America’s 1.4 million customers, the Minneapolis-based company confirmed.

The breach occurred when a malicious threat actor employed a social engineering technique to infiltrate a third-party, cloud-based system used by Allianz Life, a subsidiary of Munich-based Allianz SE. While the company’s internal systems remained unaffected, the attacker accessed sensitive data belonging to customers, financial professionals, and select employees. Allianz Life promptly contained the breach, notified the FBI, and is continuing its investigation to fully assess the scope of the incident.The breach, discovered the day after it occurred, prompted Allianz Life to notify affected individuals and offer 24 months of complimentary identity theft protection and credit monitoring. The company also reported the incident to multiple authorities, including the Maine Attorney General’s Office. Although details of the social engineering technique used by the attacker were not disclosed due to the ongoing investigation, such methods typically involve manipulative tactics to deceive individuals or systems into granting unauthorized access.

Allianz Life emphasized that the breach is isolated to its U.S. operations and does not impact other Allianz SE entities globally.Allianz Life, originally founded as North American Life and Casualty before its acquisition by Allianz SE in 1979, employs nearly 2,000 people in the U.S., primarily in Minnesota. As one of five North American subsidiaries of the global financial services giant, which serves over 125 million customers worldwide, Allianz Life is now focused on mitigating the breach’s impact and supporting those affected. This incident underscores the growing threat of social engineering attacks and the critical need for robust cybersecurity measures to protect sensitive customer data.