Exhibit 21.1 Each of the named subsidiaries is not necessarily a "significant
Subsidiary" as defined in Rule 1-02(w) of Regulation S-X, and the
Company has several additional subsidiaries not named below. The
unnamed subsidiaries, considered in the aggregate as a single
subsidiary, would not constitute a "significant subsidiary" at
the end of the year covered by this report.
Subsidiaries of the Registrant
Jurisdiction of Percentage
Name Organization Ownership
- ---- --------------- -------------
ACE Limited Cayman Islands Publicly held
ACE Bermuda Insurance Ltd. Bermuda 100%
ACE PCC Insurance Limited Guernsey 100%
Paget Reinsurance International Ltd. Bermuda 100%
ACE Capital Re International Ltd. f/k/a ACE Capital Re Limited Bermuda 100%
and Capital Global Underwriters Limited
ACE KRE Holdings Limited Barbados 100%
ACE Capital Re USA Holdings Incorporated Delaware 100%
ACE Capital Re Overseas Ltd. f/k/a KRE Reinsurance Ltd. Bermuda 100%
ACE Capital Mortgage Reinsurance Company New York 100%
(EI# 06-1384770, NAIC# 10021, NY)
ACE Capital Title Reinsurance Company New York 100%
(EI# 06-1434264, NAIC# 50028, NY)
ACE Capital Re Inc. New York 100%
Oasis Investments Limited Bermuda 67%
Oasis Investments 2 Ltd. Bermuda 67%
ACE Financial Solutions International, Ltd. f/k/a ACE Insurance
Management Limited Bermuda 100%
ACE European Markets Reinsurance Limited Ireland 100%
ACE European Markets Insurance Limited Ireland 100%
Corporate Officers & Directors Assurance Ltd. Bermuda 100%
Oasis Real Estate Company Ltd. Bermuda 100%
Tripar Partnership Bermuda 98%
ACE Realty Holdings Limited Bermuda 100%
Oasis Personnel Limited Cayman Islands 100%
Intrepid Re Holdings Limited Bermuda 100%
Intrepid Re Limited Bermuda 100%
ACE Global Markets Limited United Kingdom 100%
ACE Group Holdings Limited United Kingdom 100%
ACE Tarquin United Kingdom 100%
ACE Capital V Limited United Kingdom 100%
ACE (CG) Limited United Kingdom 100%
ACE Underwriting Agencies Limited United Kingdom 100%
ACE Trustees Limited United Kingdom 100%
ACE London Group Limited United Kingdom 100%
ACE Capital Limited United Kingdom 100%
ACE Capital III Limited United Kingdom 100%
ACE Capital IV Limited United Kingdom 100%
ACE London Holdings Limited United Kingdom 100%
ACE Capital II Limited United Kingdom 100%
ACE London Investments Limited United Kingdom 100%
ACE London Aviation Limited United Kingdom 100%
ACE London Underwriting Limited United Kingdom 100%
ACE Underwriting Services Limited United Kingdom 100%
AGM Underwriting Limited United Kingdom 100%
ACE London Services Limited United Kingdom 100%
ACE Capital VI Limited United Kingdom 100%
ACE UK Limited United Kingdom 77%
ACE UK Holdings Limited United Kingdom 100%
ACE (M) Limited United Kingdom 100%
ACE (ME) Limited United Kingdom 100%
ACE (MI) Limited United Kingdom 100%
ACE (MS) Limited United Kingdom 100%
ACESYS Limited United Kingdom 100%
ACE UK Underwriting Limited United Kingdom 100%
Underwriting Systems Limited United Kingdom 100%
ACE (PM) Limited United Kingdom 100%
ACE Services Limited Cayman Islands 100%
ACE Holdings (Gibraltar) Limited Gibraltar 100%
ACE Gibraltar Limited Gibraltar 51%
ACE-ii Limited United Kingdom 100%
ACE Corporate Risks Limited United Kingdom 51%
ACE-ii (Gibraltar) Limited Gibraltar 100%
ACE Underwriting Services (Gibraltar) Limited Gibraltar 100%
Arles Services Limited Gibraltar 100%
ACE US Holdings, Inc. USA (Delaware) 100%
ACE Financial Solutions International, Inc. USA (Delaware) 100%
(formerly known as ACE Strategic Advisors, Inc.)
ACE USA, Inc. USA (Delaware) 100%
CRC Creditor Resources Canada Limited Canada (British Columbia) 60%
Industrial Excess & Surplus Insurance Brokers USA (California) 100%
Industrial Underwriters Insurance Co. USA (Texas) 100%
(EI# 75-6015738, NAIC# 21075, TX)
Rhea International Marketing (L), Inc. Malaysia 60%
Westchester Fire Insurance Company USA 100%
(EI# 13-5481330, NAIC# 21121, NY) (New York)
Westchester Surplus Lines Insurance Co. USA (Georgia) 100%
(EI# 58-2139927, NAIC #10172, GA)
Westchester Specialty Services, Inc. USA (Florida) 100%
Westchester Specialty Insurance Services Inc. USA (Nevada) 100%
Amerigard Corporation USA (Ohio) 80%
WDH Corporation USA (Ohio) 80%
Dimension Services Corporation USA (Ohio) 80%
Dimension Holdings Inc. USA (Ohio) 80%
Oasis Insurance Services Ltd. Bermuda 100%
ACE Tempest Life Reinsurance Ltd. Bermuda 100%
ACE Tempest Reinsurance Ltd./fkaTempest Reinsurance Company Limited Bermuda 100%
Oasis Investments Limited Bermuda 33%
Oasis Investments 2 Ltd. Bermuda 33%
Oasis US Inc. Delaware 100%
St. George Investments Ltd. Cayman Islands 100%
ACE Prime Holdings Inc. USA (Delaware) 100%
ACE INA Holdings Inc. USA (Delaware) 80%
ACE Seguros S.A. (Argentina) Argentina 99.35%
ACE Seguradora S.A. Brazil 99% (ACE INA
Holdings, Inc.)
1% (ACE Prime
Holdings Inc.)
Servicios ACE INA S.A. de C.V. Mexico 99% (ACE INA
Holdings, Inc.
1% (ACE Prime
Holdings Inc.)
ACE America Latina Servicos Ltda. Brazil 99% (ACE INA
Holdings Inc.)
1% (ACE Prime
Holdings Inc.)
ACE Tempest Re USA, Inc. fka Tempest Re USA, Inc. USA (Connecticut) 100%
INA Corporation USA (Pennsylvania) 100%
ACE INA Properties, Inc. USA (Delaware) 100%
Conference Facilities, Inc. USA (Pennsylvania) 100%
INA Tax Benefits Reporting, Inc. USA (Delaware) 100%
INA Financial Corporation USA (Delaware) 100%
Brandywine Holdings Corporation USA (Delaware) 100%
Brandywine Run-Off Services, Inc. USA (Delaware) 100%
International Surplus Adjusting Services USA (California) 100%
Western Agency Management, Inc. USA (California) 100%
Cravens, Dargan & Company, Pacific Coast USA (Delaware) 100%
Cravens, Dargan & Company, Pacific Coast of USA (Illinois) 100%
Illinois, Inc.
Century Indemnity Company USA (Pennsylvania) 100%
(EI# 05-6105395, NAIC #20710, PA)
Century Reinsurance Company USA (Pennsylvania) 100%
(EI# 06-0988117, NAIC #35130, PA)
ACE American Reinsurance Company USA (Pennsylvania) 100%
(EI# 23-1740414, NAIC#22705, PA)
Brandywine Reinsurance Company S.A.-N.V. Belgium 100%
The 1792 Company USA (Delaware) 100%
Century International Reinsurance Company Ltd. Bermuda 100%
INA Holdings Corporation USA (Delaware) 100%
INATrust, fsb Chartered by Office of 100%
Thrift Supervision
YouDecide.com, Inc. Delaware 100%
CFN Finance, Inc. Delaware 100%
CFN Agency, Inc. Delaware 100%
CFN Agency of Hawaii, Inc. Hawaii 100%
PDCN Legal Management Company, Inc. USA (Delaware) 100%
INA Reinsurance Company, Ltd. Bermuda 100%
ACE INA Financial Institution Solutions, Inc. USA (Delaware) 100%
ESIS, Inc. USA (California) 100%
ACE INA Excess and Surplus Insurance Services, Inc. (GA) USA (Georgia) 100%
ACE INA Excess and Surplus Insurance Services, Inc. (PA) USA (Pennsylvania) 100%
NewMarkets Insurance Agency, Inc. USA (Delaware) 100%
ACE INA Excess and Surplus Insurance Services, Inc. (CA) USA (California) 100%
ACE INA Excess and Surplus Insurance Services, Inc. (IL) USA (Illinois) 100%
Excess and Surplus Insurance Services, Inc. USA (Texas) 100%
ACE Financial Solutions, Inc. (formerly INAC Corp.) USA (Delaware) 100%
INAC Corp. of California USA (California) 100%
Global Surety Network, Inc. USA (Delaware) 100%
Marketdyne International, Inc. USA (Delaware) 100%
ACE INA Railroad Insurance Brokers, Inc. USA (California) 100%
Recovery Services International, Inc. USA (Delaware) 100%
RSI Health Care Recovery, Inc. USA (Delaware) 100%
Indemnity Insurance Company of North America USA (Pennsylvania) 100%
(EI# 06-1016108, NAIC #43575, PA)
ACE Indemnity Insurance Company USA (Pennsylvania) 100%
EI#92-0040526, NAIC #10030, PA)
Allied Insurance Company USA (California) 100%
(EI# 23-2021364, NAIC #36528, CA)
ACE American Insurance Company USA (Pennsylvania) 100%
(EI#95-2371728, NAIC# 22667, PA)
Pacific Employers Insurance Company USA (Pennsylvania) 100%
(EI#95-1077060, NAIC# 22748, PA)
ACE Insurance Company of Texas USA (Texas) 100%
(EI# 74-1480965, NAIC #22721, 22920, TX) Illinois USA (Illinois) 100%
Union Insurance Company
(EI# 36-2759195, NAIC #27960, IL)
INAMAR Insurance Underwriting Agency, Inc. USA (New Jersey) 100%
INAMAR Insurance Underwriting Agency of Massachusetts USA (Massachusetts) 100%
INAMAR Insurance Underwriting Agency of Texas USA (Texas) 100%
INAMAR Insurance Underwriting Agency of Ohio USA (Ohio) 100%
Insurance Company of North America USA (Pennsylvania) 100%
(EI# 23-0723970, NAIC #22713, PA)
Bankers Standard Insurance Company USA (Pennsylvania) 100%
(EI# 75-1320184, NAIC #18279, PA)
Bankers Standard Fire and Marine Company USA (Pennsylvania) 100%
(EI#75-6014863, NAIC #20591, PA)
ACE Property and Casualty Insurance Company USA (Pennsylvania) 100%
(EI# 06-0237820, NAIC, #20699, PA)
ACE Employers Insurance Company USA (Pennsylvania) 100%
(EI# 23-2137343, NAIC #38741, PA)
ACE Insurance Company of Ohio USA (Ohio) 100%
(EI#23-1859893, NAIC #22764, OH)
INA Surplus Insurance Company USA (Pennsylvania) 100%
(EI# 52-1208598, NAIC #42072, PA)
ACE Fire Underwriters Insurance Company USA (Pennsylvania) 100%
(EI# 06-6032187, NAIC #20702, PA)
Atlantic Employers Insurance Company USA (New Jersey) 100%
(EI# 23-2173820, NAIC #38938, NJ)
ALIC, Incorporated USA (Texas) 100%
ACE American Lloyds Insurance Company USA (Texas) 100%
(Sponsored Lloyds Association)
(EI# 75-1365570, NAIC #18511, TX)
ACE Insurance Company of Illinois USA (Illinois) 100%
(EI# 36-2709121, NAIC #22691, IL)
ACE Insurance Company of the Midwest USA (Indiana) 100%
(EI# 06-0884361, NAIC #26417, IN)
INAPRO, Inc. USA (Delaware) 100%
Reinsurance Solutions International, LLC USA (Delaware) 50%
American Adjustment Company, Inc. USA (Delaware) 100%
American Lenders Facilities, Inc. USA (California) 100%
ACE INA International Holdings, Ltd. USA (Delaware) 100%
ACE Insurance S.A. Macau 99.49%
ACE CIIC Holdings Limited Cayman Islands 100%
Egyptian American Insurance Company Egypt 51%
ACE Synergy Insurance Berhad Malaysia 51%
ACE Seguradora S.A. Macau 100%
ACE Seguros S.A. (Chile) Chile 98.95%
66.35% - AIIH
ACE Seguros S.A. (Columbia) Columbia 99.7595%
INA (55.1532%)
AIIH - (24.0163%)
INA Financial (9.2649%)
AFIA Finance (6.6923%)
CIRC (4.6329%)
ACE Seguros S.A. (Ecuador) Ecuador 100%
ACE Seguros S.A. (Mexico) Mexico 99.9%
ACE Life Assurance Co. Ltd. Thailand 70% Eksupsiri
Nam Ek Company Limited Thailand 49%
Chilena Consolidata Seguros Generales, S.A. Chile .65%
INACAN Holdings, Ltd. Canada 100%
ACE INA Insurance (Canada) Canada 100%
ACE Insurance Limited (S. Africa) South Africa 100%
ACE Insurance Limited (New Zealand) New Zealand 100%
ACE International Management Corporation (PA) Pennsylvania 100%
Cover Direct, Inc. USA (Delaware) 100%
ACE INA G.B. Holdings, Ltd. USA (Delaware) 100%
Brandywine Reinsurance Co. (UK) Ltd United Kingdom 100%
ACE INA Services U.K. Limited United Kingdom 100%
Insurance Company of North America (U.K.) Ltd. United Kingdom 100%
INACAP Sociedad Anonima Nicaragua 100%
INACAP Reaseguros, Sociedad Anonima Nicaragua 100%
Century Inversiones, S.A. Panama 100%
ACE INA de Venezuela Intermediaros de Reaseguros SA Venezuela 100%
ACE Insurance Limited (Australia) Australia 100%
ACE Insurance Limited (Singapore) Singapore 100%
ACE INA Superannuation Pty. Limited Australia 100%
ACE Insurance Limited (Pakistan) Pakistan 100%
ACE INA Overseas Insurance Company Ltd. Bermuda 100%
ACE Insurance (Japan) Japan 100%
ACE Songai Service Kahushigigaisha Japan 100%
ACE INA Marketing Group C.A. Venezuela 100%
ACE INA Overseas Holding Inc. USA (Delaware) 100%
ACE Insurance S.A.-N.V. Belgium 99.9477%
ACE Insurance Company (Puerto Rico) Puerto Rico 100%
(EI# 66-0437305, NAIC #30953, PR)
ACE Insurance Limited (Hong Kong) Hong Kong 100%
ACE INA Bermuda Insurance Managers Ltd. Bermuda 100%
DELPANAMA S.A. Panama 100%
INAMEX S.A. Mexico 100%
Oriental Equity Holdings Limited British Virgin Islands 100%
AFIA Finance Corporation USA (Delaware) 100%
AFIA Sociedad Anonima Mexico 100%
AFIA Venezolana C.A. Venezuela 100%
ACE ICNA Italy Societa a Responsabilita Limitata Italy 100%
Siam Liberty Company Limited Thailand 55%
ACE Servicios, S.A. (Argentina) Argentina 100%
AFIA Finance Corp. Chile Limited Chile 100%
P.T. ACE INA Insurance (Indonesia) Indonesia 53.51%
RIYAD Insurance Co. Ltd. Bermuda 80%
Safire Private Ltd. Singapore 100%
AFIA (INA) Corporation, Limited USA (Delaware) 100%
Unincorporated
AFIA Association 60%
AFIA (ACE) Corporation, Limited USA (Delaware) 100%
ACE Seguros S.A. (Columbia) Colombia 85.763%
INAVEN, C.A. "Venezuela" Venezuela 100%
ACE Financial Services Inc./fka Capital Re Corporation Delaware 100%
ACE Finance Overseas Ltd. United Kingdom 100%
AGR Financial Products Inc./fka Capital Re Financial Products Corporation Delaware 100%
Capital RE LLC Turks & Caicos 100%
ACE (CR) Holdings/fka Capital Re (UK) Holdings United Kingdom 100%
ACE Capital VII Limited/fka CRC Capital, Limited. United Kingdom 100%
ACE (RGB) Holdings Limited/fka RGB Holdings Limited United Kingdom 100%
ACE (CIDR) Limited/fka C.I. de Rougemont & Co. Ltd. United Kingdom 100%
Global Life Services Limited/fka RGB Underwriting Services, Ltd. United Kingdom 100%
ACE (RGB) Agencies Limited/fka RGB Underwriting Agencies, Ltd. United Kingdom 100%
ACE Guaranty Re Inc. (EI# 52-1533088, NAIC #30180, MD) Maryland 100%
ACE Risk Assurance Company (EI# 13-4027591, Maryland 100%
NAIC #10943, MD)
ACE Asset Management Inc. Delaware 100%
ACE (Barbados) Holdings Limited Barbados 100%