Syndicate 33 Results

Hiscox Ltd
03 March 2008


                            Hiscox Ltd Announcement

                       Syndicate 33 Result and Estimates

Hiscox Ltd, the specialist insurer, today releases the final result for
Syndicate 33 for the 2005 year of account. The company also announces its
current estimate for Syndicate 33 for the 2006 year of account and an initial
estimate for the 2007 year of account.

The result for 2005 and the estimates for 2006 and 2007, expressed as a
percentage of capacity, are as follows:

Year of           Final          Previous                     Hiscox
Account          result          estimate       Capacity       Share

2005               2.7%      -7.5% to 2.5%         £774m         71%

       Current estimate

2006     17.5% to 25.0%       15% to 22.5%         £832m         73%
2007      7.5% to 15.0%               ___          £874m         73%


                                    - Ends -

For further information:

Hiscox Ltd

Robin Mehta Company Secretary                     [phone]
Kylie O'Connor Head of Communications, London     [phone]

Maitland

Suzanne Bartch                                    [phone]
Richard Farnsworth                                [phone]


Notes to editors

1. The Syndicate result and estimates are after standard personal expenses, such 
as Managing Agent fees and profit commission and all charges levied directly on 
syndicates by Lloyd's, but before Members Agents' charges.

2. Hiscox, headquartered in Bermuda, is a specialist insurance group listed on 
the London Stock Exchange. There are three main underwriting parts of the Group 
- Hiscox Global Markets, Hiscox UK and Europe, and Hiscox International. Hiscox 
Global Markets underwrites mainly internationally traded business in the London 
Market - generally large or complex business which needs to be shared with other 
insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox 
Europe offer a range of specialist insurance for professionals and business 
customers, as well as high net worth individuals. Hiscox International includes 
operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Ltd, Hiscox 
Underwriting Ltd, Hiscox ASM Ltd and Hiscox Syndicates Ltd are authorised and 
regulated by the Financial Services Authority.








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