Directors' Dealings

Hiscox PLC
2 November 1999


          EXERCISE OF SHARE OPTIONS/DIRECTORS' SHARE INTERESTS

Hiscox  plc  (the  'Company') Qualifying Employee Share Ownership  Trust
('QUEST'),  the trustee of a trust established by deed on  29  September
1998  to  facilitate the operation of the Hiscox plc SAYE  Share  Option
Schemes  (the 'Schemes'), yesterday subscribed for 570,567 new  ordinary
shares  of  Hiscox  plc  at  147p per share, representing  0.4%  of  the
enlarged issued ordinary share capital of the Company.

These shares were immediately transferred by the QUEST to employees  who
had  validly exercised options granted under the Schemes in  respect  of
such shares.

Included  within  the  above option exercises were amounts  relating  to
directors as follows:
                                                      Total     % Holding of
                     Options       Exercise   Shareholding  Issued Ordinary
Director           Exercised      Price per          after    Share Capital
                                     Option       Exercise
                                                            
Robert Hiscox          9,750          £1.00      7,573,546       5.24%
                                                            
Bronek Masojada        9,750          £1.00      1,113,191       0.77%
                                                            
Robert Childs          9,750          £1.00        495,888       0.34%