EXHIBIT 21.1



                   SUBSIDIARIES OF RENAISSANCERE HOLDINGS LTD.



--------------------------------------------------------------------------------
Name                                   Jurisdiction      Ownership Interest Held
                                                         by its Immediate Parent
--------------------------------------------------------------------------------
Renaissance Reinsurance Ltd.             Bermuda                 100%
--------------------------------------------------------------------------------
Glencoe Group Holdings Ltd.              Bermuda                 100%
--------------------------------------------------------------------------------
Glencoe Insurance Ltd.                   Bermuda                 100%
--------------------------------------------------------------------------------
Glencoe U.S. Holdings Inc.               Delaware                100%
--------------------------------------------------------------------------------
Renaissance Investment Holdings Ltd.     Bermuda                 100%
--------------------------------------------------------------------------------
Renaissance Investment Management
  Company Limited                        Bermuda                 100%
--------------------------------------------------------------------------------
DaVinciRe Holdings Ltd.                  Bermuda                 (1)
--------------------------------------------------------------------------------
DaVinci Reinsurance Ltd.                 Bermuda                 100%
--------------------------------------------------------------------------------
Renaissance Underwriting Managers Ltd.   Bermuda                 100%
--------------------------------------------------------------------------------
Stonington Insurance Company             Texas                   100%(2)
--------------------------------------------------------------------------------

(1)  We own 25% DaVinciRe's outstanding equity but control a majority of its
     outstanding voting power, and accordingly, DaVinciRe's financial results
     are consolidated in our financial statements.
(2)  Owned by Glencoe U.S. Holdings Inc.


The names of a number of our subsidiaries and equity entities have been omitted
because considered in the aggregate they would not constitute a single
significant subsidiary.