Hiscox Growing U.S. Business

Hiscox Ltd., the international specialist insurer, is expanding its U.S. business to take full advantage of market opportunities. The Group also announces a rating upgrade by Standard & Poor's to A from A-.

In the U.S., the Group's Terrorism, Media and Technology, small ticket D&O and Equine teams are being strengthened with 10 key appointments. Hiscox will also set up new lines in Property, Construction and Inland Marine insurance. The Group will also enhance the service it currently provides to the Latin American Kidnap and Ransom market with a new team based in Miami.

In addition to Hiscox's existing offices in Armonk, Manhattan, Chicago, Geneva (Illinois), San Francisco, the Group plans to have established offices in Lexington, Boston, Kansas City (Missouri), Miami and Los Angeles by the end of 2009.

Hiscox has also received a rating upgrade on Hiscox Insurance Co. Ltd. from Standard & Poor's to A from A-. Standard & Poor's based their upgrade on Hiscox' strong recent operating performance, diversified business structure and strong capitalization.