Director's Shareholding

Hiscox Ltd
20 December 2007


HAMILTON, Bermuda; Hiscox Ltd has been informed that on 18 December 2007, Bronek
Masojada, Director, acquired 7,168 shares in the Company following the exercise
of the following share options:

Hiscox UK Save as You Earn Share Option Scheme:
7,168 at an exercise price of £1.32166 each;

Following the above exercises, Mr Masojada is the beneficial owner of 2,710,070
Ordinary shares of 5p each in the Company, representing 0.69% of the Company's
issued share capital.





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