Syndicate 33 Estimates

Hiscox Ltd
12 March 2007


                            Hiscox Ltd Announcement

                             Syndicate 33 Estimates


Hiscox Ltd, the specialist insurer, today releases for Syndicate 33 the final
result for the 2004 year of account. The company also announces its current
estimate for Syndicate 33 for the 2005 year of account and an initial estimate
for the 2006 year of account.

The results for 2004 and the estimates for 2005 and 2006, expressed as a
percentage of capacity, are as follows:

Year of   Final          Previous                       Hiscox
Account   result         estimate         Capacity      Share         

2004      11.4%          5.0% to 12.5%    £846m         65%

          Current estimate

2005      -7.5% to 2.5%  -7.5% to 2.5%    £774m         71.0%

2006      15% to 22.5%   ___              £832m         73.0%


                                    - ends -


For further information:

Hiscox Ltd

Bronek Masojada     Chief Executive      020 7448 6012
Stuart Bridges      Finance Director     020 7448 6013
Richard Watson      Active Underwriter   020 7448 6006
                    Syndicate 33
Robin Mehta         Company Secretary    [phone]
Sebastian St. 
John-Clarke         Communications       020 7448 6458

Maitland 

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, headquartered in Bermuda, is a specialist insurance group listed on 
the London Stock Exchange. There are three main underwriting parts of the Group
- Hiscox Global Markets, Hiscox UK and Europe, and Hiscox International.  
Hiscox Global Markets underwrites 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. Hiscox UK 
and Hiscox Europe offer a range of specialist insurance for professionals and 
business customers, as well as high net worth individuals. Hiscox International 
includes operations in Bermuda, Guernsey and USA. Hiscox Insurance 
Company Ltd, Hiscox Underwriting Ltd and Hiscox Syndicates Ltd are authorised 
and regulated by the Financial Services Authority.




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