Share Option Scheme

Hiscox Ltd
29 March 2007


HAMILTON, Bermuda; Hiscox Ltd allotted the following shares under the Hiscox
Approved Share Option Scheme ('Approved') and the Hiscox Unapproved Share Option
Scheme ('Unapproved').



Date          Scheme No.  Shares   Ex. Price

28 Mar 2007   Approved    5,639    £1.702

28 Mar 2007   Approved    8,459    £1.574

28 Mar 2007   Approved    7,728    £1.514

28 Mar 2007   Approved    4,647    £1.499

28 Mar 2007   Unapproved  3,081    £1.499
                         -------

                         29,554
                         -------


These shares will rank pari passu with the existing class of ordinary 5p shares

in issue.


The issued share capital of Hiscox Ltd is now 394,646,820 ordinary shares of 5p

each.




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