Exhibit 21.1
EXEL HOLDINGS LIMITED - CAYMAN
ANNUITY & LIFE RE (HOLDINGS) LTD (6.73%) - BERMUDA
EXEL Acquisition Ltd. - CAYMAN*
GCR Holdings Limited - CAYMAN (IN LIQUIDATION)
Reeve Court Holdings Ltd - BERMUDA*
XL Life Ltd - BERMUDA*
Reeve Court General Partner Limited - BERMUDA
Reeve Court 4 Limited Partnership - BERMUDA
Reeve Court 6 Limited Partnership - BERMUDA
XL Insurance (Bermuda) Ltd - BERMUDA*
Element Reinsurance Ltd -BERMUDA
EXEL Cumberland Limited - UK
Pareto Partners (30%) - UK
Pareto Australia - AUSTRALIA
Vision Loyal Ltd. (30%) - UK
Financial Security Assurance International Ltd. (20%) - BERMUDA
InQuisCapital Holdings (Bermuda) Limited - BERMUDA
InQuisLogic (Bermuda) Limited - BERMUDA
RiskConnect Limited - BERMUDA
IPT Compliance Limited - UK
Sovereign Risk Insurance Ltd. (50%) - BERMUDA
XL Winterthur International (Bermuda) Ltd - BERMUDA
XL Winterthur International Services Ltd - BERMUDA
International Insurance Consulting Services Limited - BERMUDA
XL Capital Products Ltd - BERMUDA
XL Financial Assurance Ltd. (85%) - BERMUDA
XL Financial Solutions Ltd - BERMUDA
XL Global Services (Bermuda) Ltd. - BERMUDA
X.L. Holdings Barbados Ltd. - BARBADOS
X.L. America, Inc. - DE
XL Capital Investment Partners, Inc. - DE
Brockbank Insurance Services, Inc. - CA
ECS INC. - PA
ECS Alternative Market Services, Inc. - PA
ECS Childcare Center, Inc. - PA
ECS Claims Administrators, Inc. - PA
ECS Holdings, Inc. - DE
ECS International, Inc. - DE
ECS Asesores en Seguros Medioambientales,S.A.R.L. - SPAIN
ECS Asesores en Aseguramiento de Riesgos Ambientales S.A. de C.V.
(1%) - MEXICO
The ECS Group, Ltd - UK
ECS Underwriting ltd. - UK
ECS Asesores en Aseguramiento de Riesgos Ambientales S.A. de C.V.
(99.9%) - MEXICO
Risk & Insurance Services, Inc. - BARBADOS
ECS Risk Control, Inc. - PA
ECS Underwriting, Inc. - PA
Element Re Advisors Inc. - DE
Element Re Capital Products Inc. - DE
Global Credit Analytics, Inc. - DE
NAC Re Corporation - DE
XL Reinsurance America Inc. - NY
Greenwich Insurance Company - CA
Warranty Support Services, Inc. - NY
Indian Harbor Insurance Company - ND
Intercargo Corporation - DE
Intercargo International Limited - BVI
International Advisory Services Inc. - IL
XL Specialty Insurance Company - IL
Intercargo Insurance Company H.K. Ltd. - HK
NAC Re Financial Services, Inc. - DE
NAC Re Investment Holdings, Inc. - DE
XL Capital Assurance Inc. - NY
XL Insurance Company of New York, Inc. - NY
Winterthur International America Insurance Company - WISCONSIN
Winterthur International America Underwriters Insurance Co. - OKLAHOMA
Winterthur International Services of America Inc. - WISCONSIN
XLCA Admin LLC - NY
XLCDS LLC - NY
XL Financial Administrative Services - DE
XL Global, Inc. - DE
XL Insurance, Inc. - DE
X.L. Global Services, Inc. - DE
XL Life and Annuity Holding Company - DE
XL Investments Ltd - BERMUDA
First Cumberland Bank, Inc. - BARBADOS
Garrison Investments Inc. - BARBADOS
Annuity & Life Re (Holdings) Ltd (5.6%) - BERMUDA
InQuisLogic Ltd. - BARBADOS
InQuisLogic Inc. - DE
Kensington Investments Inc. - BARBADOS
XLB Partners Inc. - BARBADOS IBC
Cumberland Holdings, Inc. - DE
Cumberland California, Inc. - DE
Pareto Hughes Research (30%) - DE
Pareto Partners (30%) - CA
Cumberland New York, Inc. - DE
Pareto (30%) - NY
RiskConnect Ltd. - BARBADOS
RiskConnect Inc. - DE
X.L. Investment Private Trustee Ltd. - BERMUDA
X.L. Investments (Barbados) Inc. - BARBADOS
TAM Investment Holdings Inc. - DE
XL (Luxembourg) SaRL LUXEMBOURG
XL (Finance) SaRL - LUXEMBOURG
XL (International) SaRL - LUXEMBOURG
XL (Services) SaRL LUXEMBOURG
XL (Specialty) SaRL LUXEMBOURG
XL (Western Europe) SaRL LUXEMBOURG
Le Mans Re - FRANCE
XL Swiss Holdings Ltd - SWITZERLAND
XL Re Latin America Ltd SWITZERLAND
XL Latin America Investments Ltd BERMUDA
Latin America Reinsurance Servicos Ltda. BRAZIL
XL Winterthur International Insurance (Switzerland)
SWITZERLAND
XL Winterthur International Re (WIRE) SWITZERLAND
XL Winterthur (UK) Holdings Limited - UK
XL Winterthur International Insurance Company
Limited - UK
Winterthur International Employee Benefits,
S.A. - SPAIN
Winterthur Properties Limited - UK
Winterthur International Argentina SA Compania de
Seguros - ARGENTINA
Winterthur Holdings (Proprietary)
Limited - SOUTH AFRICA
Winterthur Properties (Proprietary)
Limited - SOUTH AFRICA
Winterthur International Insurance Company
Limited - SOUTH AFRICA
X.L. One Ltd. - BERMUDA
XL Europe Ltd (50%) - REPUBLIC OF IRELAND
XL Trading Partners Ltd (90%) - BERMUDA
X.L. Two Ltd. - BERMUDA
XL Financial Services (Ireland) Ltd
XL Europe Ltd (50%) - REPUBLIC OF IRELAND
XL Australia Pty Ltd - AUSTRALIA
XL Prevent Ltd - UK
X.L. Property Holdings Limited - BERMUDA*
MID OCEAN LIMITED - CAYMAN
Mid Ocean Holdings Limited - BERMUDA*
Ridgewood Holdings Limited - BERMUDA
Admiral Group Limited (10%)
XL London Market Group plc - UK
Brockbank Holdings Limited - UK
Baltusrol Holdings Limited - BERMUDA
County Down Limited - UK
Dornoch Limited - UK
Stonebridge Underwriting Limited - UK
XL London Market Services Ltd - UK
Brockbank Personal Lines Limited - Syndicates 253/2253
Cassidy Brockbank Limited (Dormant)
Denham Syndicate Management Limited
Brockbank Syndicate Services Limited
Sextant International Limited (25%)
XL London Market Ltd- SYNDICATES 588/861/990/1209
XL Capital International Limited - UK
XL Capital Finance (Europe) plc - UK
XL Financial Products Ltd - UK
XL Re Ltd - BERMUDA
ECS Reinsurance Company Inc. - BARBADOS
Global Capital Underwriting Ltd. - UK
NAC Re International Holdings - UK
NAC Reinsurance International Limited - UK
XL Services UK Limited - UK
Sunshine State Holdings Corporation (24%) - FL
The Shipowners Insurance and Guaranty Company Ltd. (4.6%) - BERMUDA
XL INVESTMENT MANAGEMENT LTD - BERMUDA
XL CAPITAL PARTNERS CORPORATION - CAYMAN (General Partner of each of XL
Capital Partners I, L.P. and XL Principal Partners I, L.P.)
XL Capital Partners I, L.P. - CAYMAN (Managing Member of XL Capital
Principal Partners I, L.L.C.)
XL Capital Principal Partners I, L.L.C. - DE
XL Principal Partners I, L.P. - CAYMAN (Managing Member of XL Capital
Principal Partners I, L.L.C.)
XL Capital Principal Partners I, L.L.C. - DE
* Held through EXEL Holdings Limited