Syndicate Forecasts

Hiscox PLC
29 August 2002


FOR IMMEDIATE RELEASE                                          29 August 2002

                                   Hiscox plc


                       2000 and 2001 Open Year Forecasts
               for Syndicate 33 managed by Hiscox Syndicates Ltd




The Syndicate forecasts shown below are after standard personal expenses but
before Members' Agents' charges. Standard personal expenses comprise managing
agent fees and profit commission and all charges levied directly on members by
Lloyd's.

Syndicate Forecasts as % of capacity

Year of Account           Current Estimate      Previous Estimate       Capacity

2000                      (5.0)% to (10.0)%     (2.5)% to (7.5)%        £360m
2001                      (2.5)% to (7.5)%           N/A                £360m


The 2000 year of account of Syndicate 33 has suffered some late deterioration.
The 2001 estimate, which has been significantly affected by the World Trade
Centre loss, represents a significant underlying improvement and this trend in
underwriting conditions has continued strongly into the current year. The
Syndicate's capacity for the 2002 year of account was increased from £504million
to £655 million through the use of qualifying quota share (QQS) reinsurance and
is planned to increase further for 2003 to £706 million. Current trading
continues to be very strong.



For further information please contact:

Bronek Masojada                     Hiscox plc                     020 7448 6012
[e-mail]

Stuart Bridges                      Hiscox plc                     020 7448 6013
[e-mail]

Suzanne Bartch                      The Maitland Consultancy       020 7379 5151
[e-mail]





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