Security News > 2021 > May > Insurer AXA hit by ransomware after dropping support for ransom payments
Branches of insurance giant AXA based in Thailand, Malaysia, Hong Kong, and the Philippines have been struck by a ransomware cyber attack.
The announcement from the group comes roughly a week after AXA stated that they would be dropping reimbursement for ransomware extortion payments when underwriting cyber-insurance policies in France.
Avaddon's announcement of the attack on AXA's systems comes roughly a week after AXA had stated that their cyber-insurance policies written in France would no longer include reimbursement for ransomware extortion payouts.
"AXA takes data privacy very seriously and if IPA's investigations confirms that sensitive data of any individuals have been affected, the necessary steps will be taken to notify and support all corporate clients and individuals impacted," an AXA spokesperson told BleepingComputer.
Ransomware attacks on organizations continue to grow and cause disruptions for many with attackers demanding exorbitant ransom payments.
AXA has not yet commented on the ransom amount demanded by Avaddon.