Share Option Scheme

Hiscox Ltd
01 May 2008



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

Date                          Scheme     No. of Shares        Ex. Price

30 April 2008       Approved Options             3,383           £1.574
30 April 2008       Approved Options             3,383           £1.281
30 April 2008       Approved Options             3,383           £1.020
30 April 2008       Approved Options             3,383           £1.755
30 April 2008       Approved Options             3,539           £1.465
30 April 2008     Unapproved Options            22,223           £1.465
30 April 2008     Unapproved Options            30,915           £1.514
30 April 2008     Unapproved Options            30,915           £1.499


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 388,999,538 Ordinary shares of 5p
each, excluding treasury shares.

                                   SECRETARY



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