“This relates to a limited number of individuals, and we are committed to providing them with the appropriate support and guidance to protect their information.”

The firm confirmed that services remain operating as normal, and that core systems for investment operations remain unaffected, with client investments and funds not impacted. It also said that it found no evidence of any unauthorised transactions.

“Generation Life has notified relevant government authorities and regulators in line with its obligations, including the Australian Prudential Regulation Authority (APRA), the Australian Cyber Security Centre (ACSC), the Office of the Australian Information Commissioner (OAIC), and the National Office of Cyber Security (NOCS),” the statement added.

The cyber attack was claimed by the Qilin ransomware gang back in May, when it listed Generation Life on its dark web leak site.

At the time, it published no details of the incident, nor did it provide a sample. At the time of writing, the listing still contains no data or details, unlike some of the other listings of the same age.

Who is Qilin?

Qilin has claimed 1,948 victims since it was first observed in 2022, spread across 99 countries. It is currently the most active ransomware operation in existence, averaging about 100 victim listings each month in 2026 so far.

The group operates under a ransomware-as-a-service model, with affiliates gaining access to its ransomware infrastructure in return for a cut of any ransom payments.

While some affiliates will publish complete details of their activities, including the volume of data stolen and screenshots of evidence, others post minimal information, often not going into any detail regarding the data and its contents.