On June 25, 2024, American Equity Investment Life Insurance Company reported a data breach to the Massachusetts Attorney General. The breach occurred due to unauthorized access through a compromised employee email account, exposing sensitive consumer information including names, annuity contract numbers, and Social Security numbers.
Following the breach, American Equity initiated a thorough investigation and secured its systems by updating passwords and implementing other preventive measures. The company also began sending out data breach notification letters to individuals affected by the incident.
The investigation confirmed that the compromised files contained confidential consumer data. American Equity’s notification letters detail the specific information that was accessed for each individual impacted by the breach.
American Equity, based in West Des Moines, Iowa, is a major player in financial services and life insurance, managing over half a million retirement accounts. The company has over 900 employees and generates approximately $1.7 billion in annual revenue.
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