Art Basel looks set to fizz this year

- Hiscox estimates USD 1.75billion art value at this year’s Basel -

London, UK (13^th June, 2011): Robert Read, fine art expert at specialist art insurer Hiscox comments ahead of Art Basel:

“We estimate the total value at Basel this year to be USD 1.75 billion, of which the ten largest dealers account for about USD 1.0 billion. The highest value items are the modern rather than the contemporary. The consensus seems to be that Art Basel will reinforce its position as the number one fair in Europe for modern and contemporary art.”

Ends

For further information or to arrange an interview with Robert Read, please contact:

Hiscox Ltd

Notes to editors

About Hiscox

Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites 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 Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.

For further information, visit www.hiscox.com