Exhibit 21.1

                   SUBSIDIARIES OF RENAISSANCERE HOLDINGS LTD.

1.      100% of the issued and outstanding capital shares of Renaissance
        Reinsurance Ltd., a company organized under the laws of Bermuda, is
        owned by RenaissanceRe Holdings Ltd.

2.      80% of the issued and outstanding capital shares of Glencoe Insurance
        Ltd., a company organized under the laws of Bermuda, is owned by
        RenaissanceRe Holdings Ltd.

3.      100% of the issued and outstanding capital shares of DeSoto Insurance
        Company, a company organized under the laws of Florida, is owned by
        Glencoe Insurance Ltd.

4.      100% of the issued and outstanding capital shares of Renaissance U.S.
        Holdings, Inc., a corporation organized under the laws of Delaware, is
        owned by RenaissanceRe Holdings Ltd.