Share Option Scheme

Hiscox Ltd
19 March 2007


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


Date             Scheme            No. Shares     Ex. Price

15 Mar 2007      Approved          11,279         £1.755

15 Mar 2007      Approved          12,637         £0.806

15 Mar 2007      Approved          5,639          £1.574

15 Mar 2007      Approved          14,099         £1.281

15 Mar 2007      Approved          2,997          £1.020

15 Mar 2007      Unapproved        72,136         £1.465

15 Mar 2007      Unapproved        101,517        £1.001

15 Mar 2007      Unapproved        88,880         £0.806

15 Mar 2007      Unapproved        20,610         £1.252

15 Mar 2007      Unapproved        30,915         £1.465

15 Mar 2007      ShareSave         52,649         £1.22268
                                   --------
                                   413,358
                                   --------

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 394,612,041 ordinary shares of 5p
each.



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