Axa’s Asian operations hit in ransomware attack

Insurance group Axa said one of its Asian business units has been the victim of a “targeted ransomware attack”, after a group of cyber criminals claimed to have seized troves of sensitive data from the company.

Axa Partners, an international arm of the Paris-based insurer, said on Sunday that parts of its Asian operations were “recently the victim of a targeted ransomware attack which impacted its operations in Thailand, Malaysia, Hong Kong, and the Philippines”.

In an apparent first for the industry, Axa said last week that it would suspend the writing of cyber insurance policies that refund the cost of ransom payments made to cyber cartels. The move, which was limited to the group’s French customers, came as insurers have been blamed by some officials for encouraging companies to pay out by offering such reimbursements.

A person familiar with the matter…