DXC subsidiary hit by ransomware attack

DXC subsidiary hit by ransomware attack

Attacks target Melbourne-based insurance business Xchanging

Credit: DXC

DXC has been targeted by a ransomware attack impacting insurance subsidiary Xchanging, resulting in customer outages impacting “certain systems”.

Acquired in a multimillion-dollar deal by then CSC in May 2016 - before becoming part of the newly launched DXC in early 2017- Australia-based Xchanging operates as an insurance-focused managed services business, running as a standalone entity within the technology giant’s wider portfolio.

According to a statement from DXC, the provider remains “confident” that the incident is isolated to the Xchanging environment, with no indication at this time that data has been compromised or lost. A series of containment and remediation measures have been implemented in response in an attempt to resolve the situation.

“DXC is actively working with affected customers to restore access to their operating environment as quickly as possible,” a company statement read. “DXC is also engaging with law enforcement and appropriate cyber agencies.”

Going forward, DXC said plans are in place to update “customers, shareholders, and people” on progress in resolving the attack.

Headquartered in Melbourne, Xchanging specialises in the delivery of technology-enabled business solutions to organisations in global insurance and financial services, in addition to expertise in healthcare, manufacturing, real estate and the public sector.

The original intention of the acquisition - for approximately US$720 million - was to create a “new leader” in technology and business process services for the global insurance industry.

At the time of the deal, the transaction was positioned at providing CSC with “market leading insurance software” in the form of specialist product Xuber, in addition to capabilities in property and casualty insurance and wealth management business processing services.

The attack follows DXC plans to merge operations in Asia with Australia and New Zealand, forming a combined business entity across Asia Pacific.

The new-look regional organisation will be led by Seelan Nayagam, who has held trans-Tasman responsibilities since 2014. Meanwhile, Koushik Radhakrishnan - previous leader of Asia - will assume a US-based role driving global strategic transformation at the technology provider.

According to DXC, the move is motivated by a desire to leverage the “strengths and scale” of both employees and technology capabilities across the region, in a bid to better meet customer demand.

Tags XchangingDXC


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