EXHIBIT 21
SUBSIDIARIES OF THE REGISTRANT
AS OF DECEMBER 31, 2005
FULL NAME OF SUBSIDIARY |
| PLACE OF INCORPORATION |
|
|
|
ESURANCE , INC. |
| DELAWARE, USA |
ESURANCE HOLDINGS INC. |
| DELAWARE, USA |
ESURANCE INSURANCE COMPANY |
| OKLAHOMA, USA |
FOLKSAMERICA HOLDING COMPANY, INC. |
| NEW YORK, USA |
FOLKSAMERICA REINSURANCE COMPANY |
| NEW YORK, USA |
FUND AMERICAN COMPANIES, INC. |
| DELAWARE, USA |
FUND AMERICAN ENTERPRISES HOLDINGS, INC. |
| DELAWARE, USA |
FUND AMERICAN FINANCIAL SERVICES, INC. |
| DELAWARE, USA |
FUND AMERICAN HOLDINGS AB |
| SWEDEN |
FUND AMERICAN REINSURANCE COMPANY, LTD. |
| BERMUDA |
HOMELAND INSURANCE COMPANY OF NEW YORK |
| NEW YORK, USA |
ONEBEACON AMERICA INSURANCE COMPANY |
| MASSACHUSETTS, USA |
ONEBEACON INSURANCE COMPANY |
| PENNSYLVANIA, USA |
ONEBEACON INSURANCE GROUP LLC |
| DELAWARE, USA |
PENNSYLVANIA GENERAL INSURANCE COMPANY |
| PENNSYLVANIA, USA |
SCANDINAVIAN REINSURANCE COMPANY, LTD. |
| BERMUDA |
SIRIUS AMERICA INSURANCE COMPANY |
| DELAWARE, USA |
SIRIUS INSURANCE HOLDINGS AB |
| SWEDEN |
SIRIUS INTERNATIONAL INSURANCE CORPORATION |
| SWEDEN |
THE NORTHERN ASSURANCE COMPANY OF AMERICA |
| MASSACHUSETTS, USA |
WHITE MOUNTAINS (LUXEMBOURG) S.A.R.L. |
| LUXEMBOURG |
WHITE MOUNTAINS ADVISORS LLC |
| DELAWARE, USA |
WHITE MOUNTAINS HOLDINGS BERMUDA LTD. |
| BERMUDA |
WHITE MOUNTAINS INTERNATIONAL S.A.R.L. |
| LUXEMBOURG |
WHITE MOUNTAINS RE FINANCIAL SERVICES, LTD. |
| BERMUDA |
WHITE MOUNTAINS RE GROUP, LTD. |
| BERMUDA |
WHITE MOUNTAINS RE HOLDINGS, INC. |
| DELAWARE, USA |
WHITE MOUNTAINS UNDERWRITING (BERMUDA) LIMITED |
| BERMUDA |
WHITE MOUNTAINS UNDERWRITING LIMITED |
| IRELAND |
WM ALAMEDA (GIBRALTAR) LIMITED |
| GIBRALTAR |
WM BELVAUX (LUXEMBOURG) S.A.R.L. |
| LUXEMBOURG |
WM CALETA (GIBRALTAR) |
| GIBRALTAR |
WM FINDEL (LUXEMBOURG) S.A.R.L. |
| LUXEMBOURG |
WM KEHLEN (LUXEMBOURG) S.A.R.L. |
| LUXEMBOURG |
WM MERL (LUXEMBOURG) S.A.R.L. |
| LUXEMBOURG |
WM OLM (LUXEMBOURG) S.A.R.L. |
| LUXEMBOURG |
WM VIANDEN (LUXEMBOURG) S.A.R.L. |
| LUXEMBOURG |
Certain other subsidiaries of the Company have been omitted since, in the aggregate, they would not constitute a significant subsidiary.