Share Option Scheme

Hiscox Ltd
27 April 2007


HAMILTON, Bermuda; Hiscox Ltd allotted the following shares under the Hiscox
Approved Share Option Scheme ('Approved'), and the Hiscox Unapproved Share
Option Scheme ('Unapproved').


Date            Scheme     No. Shares   Ex. Price
27 April 2007   Approved       22,559      £1.281
27 April 2007   Approved        2,243      £1.020
27 April 2007   Approved       16,919      £1.702
27 April 2007   Approved        5,639      £1.755
27 April 2007   Approved        5,152      £1.514
27 April 2007   Approved        5,152      £1.499
27 April 2007   Unapproved    240,997      £0.806
27 April 2007   Unapproved     21,305      £1.574
27 April 2007   Unapproved     50,758      £1.281
27 April 2007   Unapproved    235,704      £1.020
                              -------
                              606,428
                              -------

These shares will rank pari passu with the existing class of Ordinary 5p shares
in issue.

The issued share capital of Hiscox Ltd is now 395,852,806 Ordinary shares of 5p
each.


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