Share Buyback Scheme

Hiscox Ltd
02 January 2008




2 January 2008
For Immediate Release


                                   HISCOX Ltd
                    Close Period share repurchase programme


Hamilton, Bermuda - Hiscox Ltd ('Hiscox') announces that it has entered into an
irrevocable, non-discretionary programme to purchase shares on its own behalf,
to be placed into treasury, during its close period. The programme commences on
3rd January 2008 and runs up to and including 2nd March 2008.

Any purchases will be effected within certain pre-set parameters, and in
accordance with both the Company's general authority to repurchase shares and
Chapter 12 of the Listing Rules which requires that the maximum price paid be
limited to no more than 105 per cent of the average middle market closing price
of the Company's shares for the 5 dealing days preceding the date of purchase.
The Company confirms that it currently has no unpublished price sensitive
information.


                                     -ends-



For further information:

Hiscox Ltd

Robin Mehta, Company Secretary                            [phone]

Rebecca Olejnik, Group Communications Manager, London     [phone]


Maitland

Richard Farnsworth                                        [phone]

Notes to editors

About Hiscox

Hiscox, headquartered in Bermuda, is a specialist insurance group listed on the
London Stock Exchange. There are three main underwriting parts of the Group -
Hiscox Global Markets, Hiscox UK and Europe, and Hiscox International.  Hiscox
Global Markets 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. Hiscox UK and Hiscox
Europe offer a range of specialist insurance for professionals and business
customers, as well as high net worth individuals. Hiscox International includes
operations in Bermuda, Guernsey and the USA. Hiscox Insurance Company Ltd,
Hiscox Underwriting Ltd and Hiscox Syndicates Ltd are authorised and regulated
by the Financial Services Authority.

For further information, visit www.hiscox.com





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