Syndicate 33 Estimates

Hiscox PLC
25 August 2005



                            HISCOX PLC ANNOUNCEMENT
                             Syndicate 33 Estimates

Hiscox plc, the UK's leading specialist insurer, today announces its estimate
for Syndicate 33's results for the 2003 and 2004 years of account following the
Q2 reserving process.


Year of   Current estimate   Previous estimate   Capacity      Hiscox plc share
account                                                 
 
2003      12.5% to 17.5%     12.5% to 17.5%       £842m          65%
2004      5.0% to 12.5%      5.0% to 12.5%        £846m          65%


                                    - ends -


For further information:

Hiscox plc

Bronek Masojada         Chief Executive        020 7448 6012
Stuart Bridges          Finance Director       020 7448 6013

The Maitland Consultancy

Suzanne Bartch                                 020 7379 5151



Notes to editors

1.   The Syndicate results and estimates are after standard personal expenses,
     such as Managing Agent fees and profit commission and all charges levied 
     directly on syndicates by Lloyd's, but before Members Agents' charges.

2.   Hiscox plc is a specialist insurance group listed on the London Stock 
     Exchange where it has a market capitalisation of circa £550 million. There 
     are three main underwriting parts of the Group - Global Markets, UK Retail 
     and International Retail. Global Markets underwrites, via Syndicate 33, 
     mainly internationally traded business in the London Market - generally 
     large or complex business which needs to be shared  with other insurers or 
     needs the international licences of Lloyd's. The UK Retail business offers 
     a wide range of specialist insurance for professionals and business 
     customers, as well as high net worth individuals. It has regional offices 
     in Birmingham, Glasgow, Leeds, Maidenhead and Colchester. The International 
     Retail business has offices  in Paris, Amsterdam, Munich, Brussels and 
     Guernsey. The European offices write mainly fine art, high value household 
     business and some specialist professional indemnity business. The Guernsey 
     office underwrites fine art business and kidnap and ransom. Hiscox is the  
     largest specialist fine art and high net worth insurer in Europe.
     For further information, go to www.hiscox.com



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