Exhibit 21
| LIST OF VALIDUS HOLDINGS, LTD. SUBSIDIARIES* | JURISDICTION | |
| Validus Holdings, Ltd. | Bermuda | |
| Validus Reinsurance, Ltd. | Bermuda | |
| Validus Research Inc. | Ontario | |
| Validus Specialty, Inc. | Delaware | |
| Validus Reaseguros, Inc. | Florida | |
| Validus Services, Inc. | Delaware | |
| Validus Underwriting Risk Services, Inc. | Delaware | |
| Talbot Holdings Ltd. | Bermuda | |
| Talbot 2002 Underwriting Capital Ltd. | UK | |
| Talbot Insurance (Bermuda) Ltd. | Bermuda | |
| Talbot Underwriting Holdings Ltd. | UK | |
| Talbot Underwriting Ltd. | UK | |
| Talbot Risk Services Pte Ltd. | Singapore | |
| Talbot Underwriting Services Ltd. | UK | |
| Underwriting Risk Services Ltd. | UK | |
| Talbot Risk Services Italia SRL | Italy |
| * | All subsidiaries are, directly or indirectly, wholly-owned subsidiaries. |