Marks & Spencer Cyber Insurance Claim Could Be Worth Up to 100 Million Pounds, FT Says, Citing Sources

Dow Jones

May 14, 2025

--Marks & Spencer could claim up to 100 million pounds ($133.1 million) from its cyber insurers after the U.K. retailer said hackers stole customers' personal data, the Financial Times reports, citing sources familiar with the matter.

--Allianz could be the first insurer to compensate for the losses and is expected to pay at least the initial 10 million pounds, the FT reports, adding that Beazley is also among the insurers exposed to the M&S losses.

--The FTSE 100 group could have lost revenues to date of more than 60 million pounds due to the incident, according to the report.

Full story: https://tinyurl.com/utbvzuhh

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

May 14, 2025 05:06 ET (09:06 GMT)

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