Impact of hurricane season

Hiscox PLC
05 October 2004


                      Impact of the 2004 hurricane season


Hiscox has completed an initial review of its losses from the recent four
hurricanes which caused extensive damage in the Caribbean and the USA.

On the basis of currently available information and assuming an average level of
catastrophe losses for the remainder of the year, Hiscox estimates that the
impact of these losses will be to reduce Hiscox plc's operating profit for the
year ending 31st December 2004 by £25 million.

Hiscox anticipates that these hurricane losses and other recent events in the
global insurance business should have a positive effect on the rating
environment. On the 27th September 2004, Hiscox announced that it would increase 
its proposed capacity for Syndicate 33 for the 2005 year of account from the 
£725 million previously advised to £775 million. In addition, Hiscox has been 
given permission by Lloyd's to underwrite an additional £25 million for the 2004 
year of account to take advantage of the improved rates.


                                    - ends -

For further information:


Hiscox plc
Stuart Bridges              Finance Director                     020 7448 6013
Fiona Fong                  Director of Communications           020 7448 6447

The Maitland Consultancy
Philip Gawith                                                    020 7379 5151
Suzanne Bartch


Notes to editors

1.On the 14th September 2004, Hiscox announced an interim operating profit
of £61.7 million and a pre-tax profit of £50.8 million, when Hurricane Charley
and Hurricane Frances had reached landfall. Subsequent to that announcement,
losses were incurred from Hurricane Ivan and Jeanne.

2.Hiscox plc is a specialist insurance group listed on the London Stock
Exchange where it has a market capitalisation of circa £500 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,
Maidenhead and Colchester. The International Retail business has offices in
Paris, Amsterdam, Brussels, 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




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