Exhibit 21.1

Subsidiaries of Watford Holdings Ltd.

Name of Subsidiary	Place of Incorporation
Watford Asset Trust I	Delaware, United States
Watford Holdings (UK) Limited	United Kingdom
Watford Holdings (U.S.) Inc.	Delaware, United States
Watford Insurance Company	New Jersey, United States
Watford Insurance Company Europe Limited	Gibraltar
Watford Re Ltd.	Bermuda
Watford Services Inc.	Delaware, United States
Watford Specialty Insurance Company	New Jersey, United States