Share Option Scheme

Hiscox Ltd
23 November 2007


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

Date                 Scheme         No. of Shares      Ex. Price

23 November 2007     Unapproved     15,457             £1.465
23 November 2007     Approved       11,279             £1.702
                                    --------------
                                    26,736
                                    --------------

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 394,584,152 Ordinary shares of 5p
each.


                                   SECRETARY




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