Xchanging News

UK-Based Tech Platform Xchanging Hit by Ransomware Attack

DXC Technology announced that certain systems of its subsidiary, Xchanging, have experienced a ransomware attack. Xchanging is primarily an insurance managed services business that operates on a standalone basis. Tysons, Va.-based DXC said it is confident that this incident is …

U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance

New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers, brokers and shipping firms have been …

‘Xuber for MGAs’ Platform Delivered for Castel Underwriting

Xuber, the insurance software business of Xchanging, a unit of CSC, announced the delivery of its “Xuber for MGAs” platform for London-based Castel Underwriting Agencies Ltd. Xuber for MGAs is a flexible digital platform that enables Castel to provide and …

Ongoing Soft Market Tops Reinsurers’ Concerns: Xuber Survey

Soft market conditions continue to be the biggest concern for the industry, followed by regulation, competition from third party capital, low investment returns, cyber crime and maintaining underwriting discipline, according to a survey completed by Xuber, the insurance software business …

CSC Completes Acquisition of UK’s Xchanging

CSC, the TYSONS, Va.-based technology solutions and services provider, announced it has completed the acquisition of Xchanging plc. “CSC and Xchanging together will create a leader in technology and business process services for the global insurance industry, significantly expanding CSC’s …

Xchanging Urges Shareholders to Accept CSC Bid; No Superior Bid Expected

Outsourcing company Xchanging Plc said it did not expect a superior cash offer from Ebix Inc and urged shareholders to accept a bid from U.S.-based Computer Sciences Corp. Insurance software company Ebix had in November made a 450 million pound …

London Insurance Market Vulnerable to Major Cyber Attack: Xchanging Survey

Only one-third of insurers in the London market believes their firm could withstand a major cyber attack, and almost half felt they were underprepared, according to a survey conducted by Xchanging plc, the U.K. business technology and services provider. Insurers, …

UK’s Xchanging Receives Takeover Offer from Software Maker Ebix for $684M

Insurance software maker Ebix Inc said it made a 450 million-pound ($684 million) takeover approach for Xchanging Plc, making it the latest company to show an interest in the provider of services to the Insurance industry. Xchanging’s shares rose as …

UK’s Xchanging Receives Takeover Bid from Computer Sciences Corp. for $640M

Outsourcing company Xchanging Plc , which has already accepted a takeover offer from Capita Plc, has received a proposal from U.S.-based Computer Sciences Corp., which values the company at about 421 million pounds ($640 million). Shares in Xchanging – which …

Xchanging Wins 3-Year Services Deal Supporting Lloyd’s Asia Platform

Xchanging plc, the London-based business technology and services provider, has won a three-year contract to supply insurance services to the Lloyd’s service companies operating from the Lloyd’s Asia platform in Singapore, with effect from Jan. 1, 2016. The new cloud-based …