Share Option Scheme

Hiscox Ltd
10 May 2007




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


Date          Scheme                    No. Shares       Ex. Price
10 May 2007   Unapproved                    33,839          £1.755
10 May 2007   Unapproved                    92,746          £1.465
10 May 2007   Sharesave                        346          £1.575
10 May 2007   Sharesave                       2885          £1.575

                                          --------
                                           129,816
                                          --------

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 396,230,845 Ordinary shares of 5p
each.



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