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Exhibit 21.1
The following is a list of all subsidiaries of the registrant. The names of
particular subsidiaries have been omitted since such unnamed subsidiaries,
considered in the aggregate as a single subsidiary, would not constitute a
significant subsidiary as of the end of the year covered by this report as
permitted by Item 601(b)(21) of Regulation S-K promulgated under the Securities
Act of 1933, as amended and the Securities Exchange Act of 1934, as amended.
<TABLE>
<CAPTION>
NAME JURISDICTION OF ORGANIZATION
<S> <C>
Enhance Reinsurance Company...................... New York
Asset Guaranty Insurance Company................. New York
Van-American Companies, Inc...................... Delaware
Singer Asset Finance Company, L.L.C. ............ Delaware
</TABLE>
