Group 1001 Security Incident

Group1001 All News Corporate Community Sponsorship Work Life Media Inquiries Mar 2, 2023 Corporate AM Best Comments on Credit Ratings of Certain Group 1001 Insurance Holdings, LLC Subsidiaries Following Ransomware Attack AM Best has commented that the Credit Ratings (ratings) of certain Group 1001 Insurance Holdings, LLCs rated subsidiaries remain unchanged following the parent companys disclosure that it sustained a cybersecurity attack that caused a network disruption and impacted certain systems. According to the company, the following subsidiaries experienced system interruptions but are now back to full functionality: Delaware Life Insurance Company, Delaware Life Insurance Company of New York, Clear Spring Life and Annuity Company and Clear Spring Property and Casualty Company. AM Best was notified of a cyber security ransomware attack that occurred against Group 1001 beginning in early February. Group 1001 has engaged with law enforcement and regulatory agencies following the attack. Group 1001 did not pay the ransomware and believes all systems have been cleaned and validated. Currently, Group 1001 believes the impact to business interruption was minimal and currently day-to-day operations have resumed as normal. AM Best currently believes that the disruption caused by the ransomware attack has not reached a level that is material to the credit profile of the enterprise. AM Best recognizes that the situation remains highly fluid and will continue to monitor developments. This press release relates to Credit Ratings that have been published on AM Bests website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Bests Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings . For information on the...

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