India’s Max Financial says hacker accessed customer data from its insurance unit

Max Financial Services announced on Wednesday that its insurance division, Axis Max Life Insurance, has been alerted about a potential breach involving unauthorized access to customer data. The company, based in Noida, did not provide detailed information regarding the breach in its stock exchange announcement. In response to the incident, Axis Max Life Insurance has commenced a thorough information security assessment along with an analysis of data logs. The firm stated, "A detailed investigation is also underway in consultation with information security experts to determine the root cause of the incident and implement necessary remedial measures." As the fifth-largest insurer in India, Axis Max Life Insurance manages an impressive sum assured of ₹21.9 trillion (approximately $256 billion) and holds assets totaling ₹1.75 trillion ($20 billion), according to data from its latest annual report. TechCrunch has reached out to Axis Max Life Insurance for further details and will provide updates as they become available.