Share Option Scheme

Hiscox Ltd
13 April 2007


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


Date             Scheme      No. Shares       Ex. Price

12 April 2007    Approved        12,573          £1.020
12 April 2007    Approved        29,890          £1.281
12 April 2007    Approved         5,639          £1.574
12 April 2007    Approved         1,361          £1.755
12 April 2007    ShareSave        1,083        £1.32166
12 April 2007    Unapproved      56,398          £0.806
12 April 2007    Unapproved      16,919          £1.001
12 April 2007    Unapproved      38,607          £1.020
12 April 2007    Unapproved      82,441          £1.252
12 April 2007    Unapproved       6,767          £1.281
12 April 2007    Unapproved     167,458          £1.465
12 April 2007    Unapproved      15,457          £1.499
12 April 2007    Unapproved      15,457          £1.514
12 April 2007    Unapproved      35,297          £1.755
                            -----------
                                485,347
                            -----------

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 395,199,783 Ordinary Shares of 5p
each.


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