1 EXHIBIT 21 CAPSURE HOLDINGS CORP. AND SUBSIDIARIES AS OF DECEMBER 31, 1996 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.) NI Acquisition Corp....................................................................... Texas 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 Universal Surety Holding Corp............................................................. Texas Universal Surety of America.......................................................... Texas