HDFC Life faces a data breach and starts an investigation

HDFC Life Insurance today said it is conducting a detailed investigation to assess the root cause of a possible data breach, an exchange filing showed.

“We would like to inform you that we have received communication from an unknown source, who has shared certain data fields of our customers with us with malicious intent. We value the data privacy of our customers and as an immediate measure we have initiated an information security assessment and data log analysis,” the insurer said.

A detailed investigation is currently underway in consultation with information security experts to determine the cause and take corrective action, if necessary.

“We continue to investigate this further to assess the potential impact and are making this disclosure as a matter of good governance. We will take utmost care in addressing our customers’ concerns and taking action to safeguard their interests,” the statement said.

HDFC Life’s profit after tax for H1FY25 stood at ₹911 crore, up 15 per cent year-on-year (yoy). Assets under management (AUM) stood at ₹3.25 lakh crore as on September 30, up 23 per cent year-on-year, while the solvency ratio stood at 181 per cent during the same period. The company’s shares ended 0.1 per cent higher at ₹687.80 apiece on the BSE today.