Syndicate 33

Hiscox PLC
18 November 2002

For immediate release

18 November 2002


                                   Hiscox plc

                    Syndicate 33 capacity increase for 2003


On 10th September 2002 Hiscox reported that in order to take advantage of very
strong trading conditions the capacity of Syndicate 33 had been increased from
£504m in 2002 to £706m in 2003.


Due to the continuing excellent trading conditions, Hiscox has now agreed with
capital providers and Lloyd's to increase the 2003 capacity further up to a
maximum of £847m (a 20% increase) for 2003. The Syndicate's capacity may be
further increased through qualifying quota share reinsurance arrangements.


The fees charged by Hiscox to third party capital will be reduced by
approximately 20% for one year only to keep the overall charges approximately
the same.


Following the recent Lloyd's auctions Hiscox plc now owns 64.5% (2002 year of
account 62.8%) of Syndicate 33. The Company will be taking up this further
increase in full so that its participation in Syndicate 33 for 2003 will be
£546m (2002 year of account £317m).



For further information:

Robert Hiscox                 Chairman                           Hiscox plc                020 7448 6011

Bronek Masojada               Chief Executive                    Hiscox plc                020 7448 6012

Stuart Bridges                Finance Director                   Hiscox plc                020 7448 6013

Suzanne Bartch                The Maitland Consultancy                                     020 7379 5151


                      This information is provided by RNS
            The company news service from the London Stock Exchange