Share Option Scheme

Hiscox Ltd
17 May 2007





HAMILTON, Bermuda; Hiscox Ltd allotted the following shares under the Hiscox
Unapproved Share Option Scheme:


Date          Scheme       No. Shares   Ex. Price
16 May 2007   Unapproved       30,915      £1.465
16 May 2007   Unapproved        7,895      £1.281
16 May 2007   Unapproved       33,167      £1.020
16 May 2007   Unapproved       14,099      £1.755
16 May 2007   Unapproved       28,199      £0.806
16 May 2007   Unapproved       25,763      £1.252
16 May 2007   Unapproved       20,610      £1.465
                              -------
                              160,648
                              -------

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 396,391,493 Ordinary shares of 5p
each.




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