Globe Life, an insurance firm, is alerting approximately 850,000 customers about a potential data breach following an extortion attempt by hackers in October 2024. The company disclosed the incident in a filing with the U.S. Securities and Exchange Commission (SEC).
According to the filing, the hackers breached databases maintained by a small number of independent agency owners. While the company initially confirmed that the threat actor acquired information relating to approximately 5,000 individuals, the company’s investigation could not confirm whether the data of additional individuals was accessed.
“Out of an abundance of caution, the Company has also initiated the process to provide voluntary notifications to, and credit monitoring services for, approximately 850,000 additional individuals whose information was also stored in the relevant databases, even though the Company has not been able to confirm if the threat actor acquired these additional individuals’ data,” the company stated.
The hackers targeted a subsidiary of Globe Life, the American Income Life Insurance Company, and demanded extortion. The stolen information included Social Security numbers, names, addresses, and health-related data. Globe Life emphasized that the incident did not involve ransomware. Accessed data included names, email addresses, phone numbers, postal addresses, Social Security numbers, health data, and insurance policy information.
Globe Life refused to pay the extortion demand and instead notified federal law enforcement. The company is working with regulatory authorities and law enforcement officials. Costs related to the cyberattack are expected to be covered by insurance, but the amount spent has not been disclosed.
The filing also indicated that some of the data was “distributed to short sellers and plaintiffs’ attorneys.”
In 2023, Globe Life reported $5.21 billion in revenue. With more than 4 million policies in force and approximately $297 million in annualized life premium sales, American Income Life Insurance Company is one of its leading brands.
