Creativity + Networking + Risk-Taking = Business Success, say UK's Graduates

Student Entrepreneurs Rate Key Personal Skills Above Academic Achievement

LONDON, September 28, 2010 - New research conducted by specialist small business insurer
(www.hiscox.co.uk/business-insurance/) Hiscox*, shows that students
put personal skills ahead of academic achievement when ranking predictors of
entrepreneurial success.

Only 1% of graduates believe that qualifications are the most important
factor when thinking about setting up a business. Instead they rate creative
thinking (40%), the ability to network (38%) and risk-taking (28%) as the key
attributes of successful entrepreneurs.

The research also showed that this year's graduates admire businesspeople
that display these qualities, with Sir Richard Branson (24%) and Lord Alan
Sugar (20%) being rated as the most inspirational entrepreneurs globally.

Graduates also expressed admiration for young entrepreneurs, with four in
five (82%) saying young people had founded some of the best companies.

According to the study, IT and computing students are most likely to
become entrepreneurs (38%), followed by business management students (27%).
It also showed that those studying core subjects, such as maths (20%) and
science (15%), are less likely to go into running their own business.

    Location     % of students starting a
                            business

    London                    40%
    Hull                      36%
    Glasgow                   32%
    Cardiff                   22%
    Newcastle                 21%
    Manchester                16%
    Nottingham                12%
    Birmingham                 9%

London students topped the list as the most likely to set up their own
company, with four in ten of them already in business whilst at university,
or in the process of setting up their new venture. Other cities nurturing
entrepreneurial students include Hull (36%), Glasgow (32%) and Cardiff (22%).

John Heaney, SME expert at Hiscox, said: "The research shows an
interesting perspective on the business world from the UK's next generation
of entrepreneurs. The students are right to recognise the importance of
skills like creativity and networking for business success. Together with the
knowledge gained from studying and on the job experience, they are invaluable
to aspiring entrepreneurs.

"It's clear that the cities surveyed are full of enterprising students
optimistic about their future careers in business, which is great for the
future of UK entrepreneurship."

Notes to editors

*Research conducted amongst 1,000 students graduating in 2010 and 2011 by
independent market researchers Redshift during June 2010.

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.

For further information please contact: Hiscox Ltd: Adeola Ajayi, Group Communications, +44 (0)20 7448 6494, adeola.ajayi at hiscox.com; Lexis Public Relations: John Crozier, Press Office, +44 (0)20 7908 6409, jcrozier at lexispr.com; Sirina Parr, Press Office, +44 (0)20 7908 6481, sparr at lexispr.com