Renewal Rights

Hiscox PLC
30 March 2004

HISCOX ACQUIRES RENEWAL RIGHTS

Hiscox plc announces that it has reached agreement with Marlborough Underwriting
Agency, a wholly owned subsidiary of Berkshire Hathaway ('Marlborough') for
Marlborough to grant to Hiscox the renewal rights for the majority of business
currently placed with Marlborough Syndicate 1861. The arrangement will take
effect from 1 April 2004.

Marlborough and Hiscox have agreed that Hiscox's Syndicate 33 will offer renewal
terms on business written in the Energy, Marine and Energy Liability and Cargo
accounts. Marlborough will retain the Marine Excess of Loss account and the
Marine Hull account. Hiscox will provide a quota share reinsurance of the Hull
portfolio.

Robert Childs, Hiscox's Director of Underwriting and Underwriter of Syndicate 33
said:

'We are delighted to strengthen our position in the marine market with the
addition of such a mature and well underwritten portfolio at a time of such
attractive rates'

Tom Bolt Chief Executive of Marlborough, said:

'Marlborough are delighted to have concluded this deal with Hiscox. We look
forward to working with Hiscox to maximise the level of continuity we are able
to offer to our current clients'

For further information:

Hiscox plc
Bronek Masojada Chief Executive                     020 7448 6012
Robert Childs Director of Underwriting              020 7448 6006

The Maitland Consultancy
Suzanne Bartch                                      020 7379 5151

Marlborough Underwriting Agency
Tom Bolt Chief Executive                            020 7456 1801





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