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Exhibit 21.1

Subsidiaries of the Registrant*

Name							Jurisdiction of Incorporation
Assured Guaranty Re Ltd.							Bermuda
	Assured Guaranty Overseas US Holdings Inc.						Delaware
		Assured Guaranty Re Overseas Ltd.					Bermuda
			Assured Guaranty Mortgage Insurance Company				New York
			AG Intermediary Inc.				New York
Assured Guaranty Finance Overseas Ltd.							England
Cedar Personnel Ltd.							Bermuda
AG Corporate Holdings LLC							Delaware
	Assured Guaranty Ireland Holdings Limited						Ireland
	Assured Guaranty US Holdings Inc.						Delaware
		Assured Guaranty Municipal Holdings Inc.					New York
			Assured Guaranty Municipal Corp.				New York
				Assured Guaranty Municipal Insurance Company			New York
					FSA Mexico Holdings Inc		New York
					FSA Seguros Mexico, S.A. de C.V.		Mexico
					Assured Guaranty (Bermuda) Ltd.		Bermuda
						FSA International Credit Protection (Cayman) Limited	Cayman Islands
					Assured Guaranty (Europe) Ltd.		England
			FSA Portfolio Management Inc.				New York
			Transaction Services Corporation				New York
		Assured Guaranty (UK) Services Limited					England
		Assured Guaranty Corp.					Maryland
			Assured Guaranty (UK) Ltd.				England
		AG Financial Products Inc.					Delaware
			AGFP Holdings LLC				Delaware
			Portfolio Funding Company LLC I				Delaware
		AG Analytics Inc					Delaware

*

All subsidiaries are wholly-owned except for Portfolio Funding LLC I, which is 50% owned

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Exhibit 21.1

Subsidiaries of the Registrant