Exhibit 21

SUBSIDIARIES OF REGISTRANT

Name	Jurisdiction of Incorporation
Alternative Re Holdings Limited	Bermuda
Alternative Re Limited	Bermuda
Alwyn Insurance Company Limited	Gibraltar
Arch Capital Finance (Ireland) Limited	Ireland
Arch Capital Finance LLC	Delaware
Arch Capital Group (U.S.) Inc.	Delaware
Arch Capital Holdings Ltd.	Bermuda
Arch Capital Services LLC	Delaware
Arch Credit Risk Services (Bermuda) Ltd.	Bermuda
Arch Europe Insurance Services Ltd	United Kingdom
Arch Financial Holdings Australia Pty Ltd	Australia
Arch Financial Holdings B.V.	Netherlands
Arch Financial Holdings Canada Ltd.	Canada
Arch Financial Holdings Europe I Limited	Ireland
Arch Financial Holdings Europe II Limited	Ireland
Arch Financial Holdings Europe III Limited	Ireland
Arch Financial Holdings Europe IV Limited	Ireland
Arch Fund Management Ltd.	Bermuda
Arch Global Services (Cyprus) Ltd.	Cyprus
Arch Global Services (Philippines) Inc.	Philippines
Arch Global Services Holdings Ltd.	Philippines
Arch Group Foundation	Delaware
Arch Group Reinsurance Limited	Bermuda
Arch Indemnity Insurance Company	Missouri
Arch Insurance (EU) Designated Activity Company	Ireland

Arch Insurance (UK) Limited	United Kingdom
Arch Insurance Canada Ltd.	Canada
Arch Insurance Company	Missouri
Arch Insurance Group Inc.	Delaware
Arch Insurance Solutions Inc.	Delaware
Arch Intermediaries Group Limited	United Kingdom
Arch Investment Holdings (Cyprus) Ltd	Cyprus
Arch Investment Holdings I Ltd.	Bermuda
Arch Investment Holdings II Ltd.	Bermuda
Arch Investment Holdings III Ltd.	Bermuda
Arch Investment Holdings IV Ltd.	Bermuda
Arch Investment ICAV	Ireland
Arch Investments II LLC	Delaware
Arch Investment Management Ltd.	Bermuda
Arch Investment Property Holdings Ltd.	Bermuda
Arch Lenders Mortgage Indemnity Limited	Australia
Arch Life Insurance Company of America	Kansas
Arch LMI Pty Ltd	Australia
Arch Managing Agency Limited	United Kingdom
Arch MI Asia Limited	Hong Kong
Arch Mortgage Assurance Company	Wisconsin
Arch Mortgage Funding, Inc.	Delaware
Arch Mortgage Guaranty Company	Wisconsin
Arch Mortgage Insurance Company	Wisconsin
Arch Mortgage Risk Transfer Holdings Inc.	Delaware
Arch Mortgage Risk Transfer PCC Inc.	District of Columbia
Arch Property Casualty Insurance Company	Missouri
Arch Re Underwriting ApS	Denmark
Arch Reinsurance Company	Delaware

Arch Reinsurance Europe Underwriting Designated Activity Company	Ireland
Arch Reinsurance Ltd.	Bermuda
Arch Services Holdings Inc.	Delaware
Arch Specialty Insurance Agency Inc.	Missouri
Arch Specialty Insurance Company	Missouri
Arch Syndicate Investments Ltd	United Kingdom
Arch Underwriters Ltd.	Bermuda
Arch Underwriters Europe Limited	Ireland
Arch Underwriters (Gulf) Limited	Dubai International Financial Centre
Arch Underwriting Agency (Australia) Pty. Ltd.	Australia
Arch Underwriting Agency LLC	Delaware
Arch Underwriting at Lloyd’s Ltd	United Kingdom
Arch Underwriting at Lloyd’s (Australia) Pty Ltd	Australia
Arch Underwriters Inc.	Delaware
Arch U.S. MI Holdings Inc.	Delaware
Arch U.S. MI Services Inc.	Delaware
Axiom Underwriting Agency Limited	United Kingdom
Barbican Group Holdings Limited	Guernsey
Barbican Holdings (UK) Limited	United Kingdom
Barbican Reinsurance Company Limited	Guernsey
Barbican Specialty Reinsurance Company Limited	Guernsey
Barbican Underwriting Limited	United Kingdom
First American Service Corporation	Missouri
First Shield Consumer Service Corporation	Missouri
First Shield Consumer Service Corporation of Florida	Missouri
First Shield Service Corporation	Missouri
First Shield Service Corporation of Florida	Missouri
Gulf Re Holdings Limited	Jersey (Channel Islands)

Gulf Reinsurance Limited	Dubai International Financial Centre
Idlemear Holdings Limited	United Kingdom
McNeil & Company, Inc.	New York
Obelisk Underwriting Limited	United Kingdom
Out of Towne, LLC	Virginia
Panacea Limited	Gibraltar
Penflex Actuarial Services LLC	New York
SALT Insurance Services Limited	United Kingdom
Somerset Bridge Group Limited	United Kingdom
Somerset Bridge Insurance Services Limited	United Kingdom
Somerset Bridge Ltd	United Kingdom
Somerset Bridge Shared Services Limited	United Kingdom
Soundview Claims Solutions Inc.	Delaware
Southern Rock Holdings Limited	Gibraltar
Southern Rock Insurance Company Limited	Gibraltar
Thomas Underwriting Agency Ltd	United Kingdom
United Guaranty Residential Insurance Company	North Carolina
United Guaranty Residential Insurance Company of North Carolina	North Carolina
United Guaranty Services, Inc.	North Carolina
Ventus Risk Management, Inc.	Delaware