Grant of Options

Hiscox PLC
12 January 2006


On 12 January 2006, the Board of Hiscox plc (the 'Company') granted share
incentives over a total of 4,235,000 ordinary shares of 5p each in the Company
pursuant to the Hiscox Performance Share Plan. All share incentives so granted
are exercisable at 236.25p between 12 January 2009 and 11 January 2016.

Included in these grants were options granted to directors and Persons
Discharging Managerial Responsibility of the Company as set out below:

Directors
RRSH Hiscox            100,000
BE Masojada            260,000
RS Childs              250,000
SJ Bridges             215,000

PDMRs
RC Watson              200,000
S Langan               180,000
SC Langley             130,000
CWHH Dupplin           130,000

For further information:

Stuart Bridges,
Hiscox plc, Company Secretary
020 7448 6003



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