FULL NAME OF SUBSIDIARY		PLACE OF INCORPORATION
ESURANCE, INC.		DELAWARE, USA
ESURANCE HOLDINGS (BERMUDA) LTD.		BERMUDA
ESURANCE HOLDINGS INC.		DELAWARE, USA
ESURANCE INSURANCE COMPANY		WISCONSIN, USA
FOLKSAMERICA HOLDING COMPANY, INC.		NEW YORK, USA
FOLKSAMERICA REINSURANCE COMPANY		NEW YORK, USA
FUND AMERICAN COMPANIES, INC.		DELAWARE, USA
FUND AMERICAN ENTERPRISES HOLDINGS, INC.		DELAWARE, USA
FUND AMERICAN FINANCIAL SERVICES, INC.		DELAWARE, USA
FUND AMERICAN HOLDINGS AB		SWEDEN
GUILFORD HOLDINGS, INC.		DELAWARE, USA
HOMELAND INSURANCE COMPANY OF NEW YORK		NEW YORK, USA
LONE TREE HOLDINGS LTD.		BERMUDA
LONE TREE INSURANCE GROUP LTD.		BERMUDA
MILL SHARES HOLDINGS (BERMUDA) LIMITED		BERMUDA
ONEBEACON AMERICA INSURANCE COMPANY		MASSACHUSETTS, USA
ONEBEACON HOLDINGS (GIBRALTAR) LIMITED		GIBRALTAR
ONEBEACON HOLDINGS (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
ONEBEACON INSURANCE COMPANY		PENNSYLVANIA, USA
ONEBEACON INSURANCE GROUP LLC		DELAWARE, USA
ONEBEACON INSURANCE GROUP LTD.		BERMUDA
PENNSYLVANIA GENERAL INSURANCE COMPANY		PENNSYLVANIA, USA
SCANDINAVIAN REINSURANCE COMPANY LTD.		BERMUDA
SIRIUS INSURANCE HOLDING SWEDEN AB		SWEDEN
SIRIUS INTERNATIONAL INSURANCE CORPORATION		SWEDEN
THE NORTHERN ASSURANCE COMPANY OF AMERICA		MASSACHUSETTS, USA
WHITE MOUNTAINS ADVISORS LLC		DELAWARE, USA
WHITE MOUNTAINS HOLDINGS (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WHITE MOUNTAINS HOLDINGS BERMUDA LTD.		BERMUDA
WHITE MOUNTAINS INC.		DELAWARE, USA
WHITE MOUNTAINS INTERNATIONAL S.A.R.L.		LUXEMBOURG
WHITE MOUNTAINS INVESTMENTS (BERMUDA) LTD.		BERMUDA
WHITE MOUNTAINS RE BERMUDA LTD.		BERMUDA
WHITE MOUNTAINS RE FINANCIAL SERVICES LTD.		BERMUDA
WHITE MOUNTAINS RE GROUP, LTD.		BERMUDA
WHITE MOUNTAINS RE HOLDINGS, INC.		DELAWARE, USA
WHITE MOUNTAINS RE HOLDINGS, LTD.		BERMUDA
WHITE MOUNTAINS RE, LTD.		BERMUDA
WHITE MOUNTAINS RE UNDERWRITING SERVICES LTD		BERMUDA
WHITE MOUNTAINS UNDERWRITING LIMITED		IRELAND
WHITE ROCK HOLDINGS (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WHITE SANDS HOLDINGS (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM ALAMEDA (GIBRALTAR) LIMITED		GIBRALTAR
WM BECH (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM BELVAUX (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM CALETA (GIBRALTAR) LIMITED		GIBRALTAR
WM CUMBERLAND (GIBRALTAR) LIMITED		GIBRALTAR
WM FINDEL (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM KEHLEN (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM LAGUNA (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM LINGER (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM MERL (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM OLM (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM QUEENSWAY (GIBRALTAR) LIMITED		GIBRALTAR
WM REULER (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WM VIANDEN (LUXEMBOURG) S.A.R.L.		LUXEMBOURG
WMA HOLDINGS, INC.		DELAWARE, USA

Certain other subsidiaries of the Company have been omitted since, in the aggregate, they would not constitute a significant subsidiary.