Tokio Marine Insurance Singapore falls victim to ransomware cyber attack

Tokio Marine Insurance Singapore (TMiS) was subject to a ransomware cyber attack on 16 August 2021.

TMiS reported that it immediately took necessary measures upon detection of the attack, including isolating the network to prevent further damages and filing the required reports to local government agencies, according to a statement released by Tokio Marine Holdings.

In response to the incident, the Tokio Marine Group has been working to identify the scope of damages.

At this time, the group can confirm that there is no indication of a breach of any customer information or confidential business information.

It also confirmed that the ransomware cyber attack exclusively affected TMiS - there is no damage or impact on other companies within the wider group.

In a company statement published on 16 August, the firm said: “We sincerely apologise for any inconvenience and concern caused to our customers or related parties.

“The group has taken information security safeguards so far and will endeavour to make further efforts to keep our customer information, as well as our confidential information, protected.

“We will appropriately respond to the case in cooperation with local governmental agencies as well as external specialised vendors.”

The group has appointed an external vendor to perform third party analysis of its systems to help verify the impact of the cyber attack.

Tokio Marine HCC (TMHCC), part of the Tokio Marine Group, was approached by Insurance Times for further comment, but it declined.