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EXHIBIT 21
List of Subsidiaries:
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State of Percentage
Name Incorporation Owned
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American Insurance Administration Group, Inc. Florida 100%
American Progressive Life & Health Insurance New York 100%
Company of New York
American Pioneer Life Insurance Company Florida 100%
American Exchange Life Insurance Company Texas 100%
Pennsylvania Life Insurance Company Pennsylvania 100%
Peninsular Life Insurance Company North Carolina 100%
Union Bankers Insurance Company Texas 100%
Constitution Life Insurance Company Texas 100%
Marquette National Life Insurance Company Texas 100%
PennCorp Life Insurance Company Ontario, Canada 100%
PFI, Inc. Delaware 100%
Quincy Coverage Corporation Delaware 100%
WorldNet Service Corp. Florida 100%
Security Health Provides, Inc. Delaware 50%
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