Key Points
- HDFC Life Insurance is investigating a potential data breach involving customer data from an unknown source.
- The company has begun a security review and is analyzing data logs to understand what happened.
- Experts are being consulted to determine the cause and impact of the breach.
- HDFC Life is committed to protecting customer privacy and will take necessary steps to address the issue.
- For the first half of FY25, the company saw a 15% increase in profit and a 23% growth in assets under management.
- The company’s solvency ratio was 181% as of September 30, 2024.
- HDFC Life’s stock closed 0.1% higher at ₹687.80 on the BSE.
Looma News
HDFC Life Insurance is currently investigating a potential data breach after customer data was shared with malicious intent by an unknown source. The company has made a public disclosure to keep customers and stakeholders informed, and is taking steps to assess and address the situation. This includes conducting a security review and analyzing data logs to better understand the breach.
HDFC Life has reassured customers and stakeholders that it will take all necessary actions to protect privacy and minimize any impact. The company is consulting with security experts to determine the cause and extent of the breach. In line with its commitment to transparency, HDFC Life is sharing this update as part of its governance practices.
Despite the investigation, HDFC Life’s financial performance remains strong. For the first half of fiscal year 2025, the company reported a 15% year-on-year increase in profit after tax, reaching ₹911 crore. Assets under management grew by 23%, totaling ₹3.25 lakh crore. The company’s solvency ratio remained healthy at 181% as of September 30, 2024.
HDFC Life’s stock price rose by 0.1% to ₹687.80 per share on the Bombay Stock Exchange (BSE) on the day the news was made public.
