Syndicate 33 Forecasts

Hiscox PLC
22 March 2004

FOURTH QUARTER SYNDICATE 33 FORECASTS

Hiscox plc, the leading specialist Lloyd's insurer, announces fourth quarter
forecasts for Syndicate 33 for the 2001 and 2002 years of account and an initial
forecast of the profit for the 2003 year of account.

The forecasts for the 2001 and 2002 years of account are unchanged from those
announced at the end of the third quarter. Both 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        March 2004           November 2003                  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%                -              £842m      65%

The 2001 account remains open owing to the uncertainties that still surround the
final settlement of the World Trade Centre claim and the ongoing judicial
process.

In a separate announcement today, Hiscox plc also issued its preliminary results
for the year ended 31 December 2003.

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 £475 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