Share Option Scheme

Hiscox Ltd
15 November 2007


HAMILTON, Bermuda; Hiscox Ltd allotted the following shares under the Hiscox UK
SAYE Share Option Scheme ('UK SAYE Options'):

Date                 Scheme               No. of Shares     Ex. Price

15 November 2007     ShareSave Option     1,508             £1.22268
15 November 2007     ShareSave Option     675               £2.22
15 November 2007     ShareSave Option     6,807             £1.32166
                                          --------------
                                          8,990
                                          --------------

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 396,170,395 Ordinary shares of 5p
each.


                                   SECRETARY




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