Exhibit 21.1

PARENT	SUBSIDIARIES	JURISDICTION OF ORGANIZATION
Max Capital Group Ltd. (the Registrant)	Max Bermuda Ltd.	Bermuda
	Max Managers Ltd.	Bermuda
	Max USA Holdings Ltd.	Delaware, USA
	Max Capital Services Limited	Ireland
	Max UK Holdings Ltd.	United Kingdom
	Alterra Holdings Limited	Bermuda
Max Bermuda Ltd.	Max Diversified Strategies Ltd.	Bermuda
	Max Europe Holdings Limited	Ireland
Max Europe Holdings Limited	Max Re Europe Limited	Ireland
	Max Insurance Europe Limited	Ireland
Max USA Holdings Ltd.	Max Specialty Insurance Company	Delaware, USA
	Max Specialty Insurance Services Ltd.	Delaware, USA
	Max Managers USA Ltd.	Delaware, USA
Max Capital Services Limited	Max Capital Services USA LLC	Delaware, USA
	Max Capital Services BDA Ltd.	Bermuda
	Max Capital Services UK Ltd.	United Kingdom
Max Specialty Insurance Company	Max America Insurance Company	Indiana, USA
Max Specialty Insurance Services Ltd.	Max California Insurance Services Ltd.	California, USA
Max UK Holdings Ltd.	Max at Lloyd’s Ltd.	United Kingdom
	Max UK Underwriting Services Ltd.	United Kingdom
	Max Denmark ApS	Denmark
	Danish Re (UK) Group Limited	United Kingdom
	Max Corporate Capital 2 Ltd.	United Kingdom
	Max Corporate Capital 3 Ltd.	United Kingdom
	Max Corporate Capital 4 Ltd.	United Kingdom
	Max Corporate Capital 5 Ltd.	United Kingdom
	Max Corporate Capital 6 Ltd.	United Kingdom
Max at Lloyd’s Ltd.	Max Brasil Serviços Técnicos Limitada	Brazil
Max Denmark ApS	Max Singapore Insurance Managers Pte. Ltd.	Singapore