1 EXHIBIT 21 CAPSURE HOLDINGS CORP. AND SUBSIDIARIES AS OF DECEMBER 31, 1995 INCORPORATED COMPANY IN ----------------------------------------------------- --------------- Capsure Holdings Corp. (f/k/a Nucorp, Inc.) ......... Delaware Capsure Financial Group, Inc. ...................... Oklahoma (f/k/a/ Nucorp Energy of Oklahoma, Inc.) APGO Drilling & Production Services .............. Oklahoma Capital Dredge & Dock Corp. ...................... Ohio Capsure Agency Holding Corp. ..................... Texas (f/k/a Nucorp Insurance Services, Inc., f/k/a Bill Dorland Machine & Equipment, Inc.) Cogburn Pump & Supply Co. ........................ Delaware Condor Pipe, Incorporated ........................ Texas Crowder Tank, Inc. ............................... Oklahoma Del-Tex, Inc. .................................... Oklahoma Eagle Upsetters, Inc. ............................ Colorado Jim Williams & Associates, Inc. .................. Louisiana Martin Pipe Co., Inc. ............................ Louisiana NI Acquisition Corp. ............................. Texas United Capitol Holding Company. ................ Delaware United Capitol Insurance Company ............. Wisconsin United Capitol Managers, Inc. ............... Delaware Fischer Underwriting Group, Incorporated .. New Jersey Nucorp Compressor, Inc. .......................... Texas Nucorp Management Company ........................ Ohio Nucorp Properties, Inc. .......................... Ohio Pin Oak Petroleum, Inc. .......................... Texas SI Acquisition Corp. ............................. Texas Surewest Financial Corp. ....................... South Dakota Surety Bonding Company of America ............ South Dakota Western Surety Company ....................... South Dakota Troy Fain Insurance, Inc. ................... Florida SMCI Incorporated ................................ Mississippi Superior Allied Products, Inc. ................... Texas Sweetwater Pump & Supply, Inc. ................... Texas Taylor Rig and Equipment Company ................. Oklahoma Universal Surety Holding Corp. ................... Texas Universal Surety of America .................... Texas Wildcat Supply, Inc. ............................. Oklahoma