London market platform Xchanging suffers ransomware attack

DXC Technology has confirmed a ransomware attack on its subsidiary Xchanging, a London-based provider of technology-enabled business solutions to the global commercial insurance industry.

DXC said in a brief statement that the incident appears to be "isolated to the Xchanging environment" and it does not have any indication so far that data has been compromised or lost.

"The company has implemented a series of containment and remediation measures to resolve this situation. DXC is actively working with affected customers to restore access to their operating environment as quickly as possible. DXC is also engaging with law enforcement and appropriate cyber agencies," it said.

Xchanging is primarily an insurance managed services business that operates on a standalone basis.

DXC said it will update its customers and shareholders on its progress in resolving this situation.