Exhibit 21.1
Advantage Insurance Inc.
Subsidiaries
| Subsidiary | % Parent Interest Held | State/Country of Jurisdiction | Parent | |||
| 1. AD Services Ltd. | 100% | Cayman Islands | Advantage International Management (Cayman) Ltd. | |||
| 2. Advantage Business Insurance Company I.I. | 100% | Puerto Rico | Advantage Insurance Inc. | |||
| 3. Advantage DCP Ltd | 100% | United Kingdom | Advantage Property & Casualty Company SPC (Cayman Islands) | |||
| 4. Advantage Group Holdings (Delaware) LLC. | 100% | Delaware | Advantage Life & Annuity Company SPC | |||
| 5. Advantage Group Holdings (Puerto Rico) Inc. | 25% | Puerto Rico | Advantage Group Holdings (Delaware) LLC | |||
| 75% | Advantage Life & Annuity Company SPC | |||||
| 6. Advantage Insurance Management (USA) LLC | 100% | South Carolina | Advantage Insurance Inc. | |||
| 7. Advantage Insurance Services LLC | 100% | Puerto Rico | Advantage Insurance Inc. | |||
| 8. Advantage International Bank Corp. | 100% | Puerto Rico | Advantage Insurance Inc. | |||
| 9. Advantage International Management (Cayman) Ltd. | 100% | Cayman Islands | Advantage Insurance Inc. | |||
| 10. Advantage Life & Annuity Company SPC | 100% | Cayman Islands | Advantage Insurance Inc. | |||
| 11. Advantage Life Assurance I.I. | 100% | Puerto Rico | Advantage Insurance Inc. | |||
| 12. Advantage Life Puerto Rico A.I. | 100% | Puerto Rico | Advantage Life & Annuity Company SPC | |||
| 13. Advantage Life Small Cap LLC | 100% | Delaware | Advantage Life Puerto Rico, A.I. | |||
| 14. Advantage Property & Casualty Company SPC (Cayman Islands) | 100% | Cayman Islands | Advantage Insurance Inc. | |||
| 15. AIH Insurance Agency LLC | 100% | South Carolina | Advantage Insurance Management (USA) LLC | |||
| 16. Harbor Risk Indemnity, LLC | 100% | Montana | Advantage Insurance Management (USA) LLC | |||
| 17. ND Services Ltd. | 100% | Cayman Islands | Advantage International Management (Cayman) Ltd. | |||
| 18. The Advantage Life Investment Fund SPC | 100% | Cayman Islands | Advantage Life & Annuity Company SPC | |||
| 19. The Advantage Life Small Cap Fund SPC | 100% | Cayman Islands | Advantage Life & Annuity Company SPC | |||
| 20. USCL Managers, Inc. | 100% | Cayman Islands | U.S. Commonwealth Life, A.I. | |||
| 21. U.S. Commonwealth Life, A.I. | 100% | Puerto Rico | Advantage Insurance Inc. |
