Share Option Scheme

Hiscox Ltd
13 September 2007


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

Date                     Scheme         No. of Shares      Ex. Price

12 September 2007        Unapproved     20,610             £1.252
12 September 2007        Unapproved     25,763             £1.465
12 September 2007        Unapproved     20,913             £1.514
12 September 2007        Unapproved     103,052            £1.514
12 September 2007        Approved       8,459              £1.702
12 September 2007        Approved       8,459              £1.755
12 September 2007        Approved       10,002             £1.514
                                        --------------
                                        197,258
                                        --------------

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 397,140,935 Ordinary shares of 5p
each.

                                   SECRETARY


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