Syndicate 33 Forecasts

Hiscox PLC
02 June 2004


                                   HISCOX PLC
                   First Quarter 2004 Syndicate 33 Forecasts

Hiscox plc, the leading specialist Lloyd's insurer, announces first quarter 2004
forecasts for Syndicate 33 for the 2001, 2002 and 2003 years of account.

The forecasts are unchanged from those announced at the end of the fourth
quarter. These years of account continue to develop in line with expectations.

The syndicate forecasts, expressed as a percentage of capacity, are as follows:

Year of        Current estimate    Previous estimate    Capacity   Hiscox plc
account           June 2004            March 2004                    Share

2001          (17.5%) to (22.5%)   (17.5%) to (22.5%)     £360m        53%
2002            22.5% to 27.5%       22.5% to 27.5%       £504m        55%
2003            12.5% to 17.5%       12.5% to 17.5%       £842m        65%

                                    - ends -

For further information:

Hiscox plc
Bronek Masojada             Chief Executive                   020 7448 6012
Stuart Bridges              Finance Director                  020 7448 6013
Fiona Fong                  Director of Communications        020 7448 6447

The Maitland Consultancy
Suzanne Bartch                                                020 7379 5151

Notes to editors
     
1.   The Syndicate forecasts 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 £450 million. There 
     are three main underwriting parts of the Group - Syndicate 33 at Lloyd's, 
     UK Retail and International Retail business. Syndicate 33 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. 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 and Maidenhead. The International Retail 
     business has offices in Paris, Amsterdam, Munich and Guernsey. The European 
     offices write mainly high value household business and some specialist 
     professional indemnity business. The Guernsey office underwrites kidnap and 
     ransom business and fine art. For further information, go to www.hiscox.com



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