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Exhibit 21.1

Hub International Limited
Subsidiaries as of 12/31/02
Page 1 of 2

|                                                           |  |                         
|---------------------------------------------------------- |  | ------------------------
|798676 Alberta Ltd.                                        |  | Alberta, Canada         
|805977 Alberta Ltd.                                        |  | Alberta, Canada         
|Advanced Benefit Resources Corp.                           |  | Delaware                
|American Coverage Administrators, Inc.                     |  | Delaware                
|Barton Insurance Brokers Ltd.                              |  | British Columbia, Canada
|Beacon Underwriting Ltd.                                   |  | British Columbia, Canada
|Blais Assurance & Gestion de Risques Inc.                  |  | Quebec, Canada          
|Brentwood Insurance Agencies Ltd.                          |  | British Columbia, Canada
|Brokerage Underwriting Services Inc.                       |  | Ontario, Canada         
|Bru Agencies Ltd.                                          |  | Alberta, Canada         
|Burnham Insurance Center LLC                               |  | Michigan                
|Burnham Insurance Group, Inc.                              |  | Michigan                
|Burnham Stewart Reinsurance Ltd.                           |  | Turks & Caicos          
|C.J. McCarthy Insurance Agency, Inc                        |  | Massachusetts           
|Claims Administration Corporation                          |  | Delaware                
|Colwood Insurance Services Inc.                            |  | British Columbia, Canada
|Ernest-Roy Hobbs Inc.                                      |  | Quebec, Canada          
|Evans-Bastion Insurance Agencies                           |  | British Columbia, Canada
|Gifford Associates Insurance Brokers Ltd.                  |  | Ontario, Canada         
|Gulliver Insurance Brokers Ltd.                            |  | Ontario, Canada         
|Halton Caird Life Insurance Agency Ltd.                    |  | Ontario, Canada         
|Halton-Caird Insurance Brokers Limited                     |  | Ontario, Canada         
|Hooper, Hayes & Associates, Inc.                           |  | California              
|HUB 724 Holdings, Inc.                                     |  | Delaware                
|HUB 724.com, Inc.                                          |  | Delaware                
|Hub Capital Inc.                                           |  | Ontario, Canada         
|Hub e-com, Inc.                                            |  | Delaware                
|Hub Financial (British Columbia) Inc.                      |  | British Columbia, Canada
|Hub Financial (Prairies) Inc.                              |  | Alberta, Canada         
|Hub Financial Inc.                                         |  | Ontario, Canada         
|Hub Hungary Liquidity Management Limited Liability Company |  | Hungary                 
|Hub International of California, Inc.                      |  | Delaware                
|Hub International of Indiana Limited                       |  | Indiana                 
|Hub U.S. Holdings, Inc.                                    |  | Delaware                
|Hubacq Inc.                                                |  | Ontario, Canada         
|I.C. Insurance Brokers Limited                             |  | Ontario, Canada         
|Kaye Group Inc.                                            |  | Delaware                
|Kaye Insurance Associates, Inc.                            |  | Delaware                
|Keard Insurance Brokers Limited                            |  | Ontario, Canada         
|Mack and Parker, Inc.                                      |  | Illinois                
|Martin Assurance & Gestion de Risques Inc.                 |  | Quebec, Canada          
|MBA/BIG Management Partners LLC                            |  | Michigan                
|McIntosh Insurance Services Inc.                           |  | British Columbia, Canada
|Michigan Bankers Insurance Center LLC                     |  | Michigan                
|Mitchell McConnell Insurance Ltd.                          |  | New Brunswick, Canada   
|ONeil & Company Limited                                   |  | Ontario, Canada         
|P. Moauro & Associates Inc.                                |  | Ontario, Canada         





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Hub International Limited
Subsidiaries as of 12/31/02
Page 2 of 2

|                                               |  |                         
|---------------------------------------------- |  | ------------------------
|Page Insurance Ltd.                            |  | Alberta, Canada         
|Park Brokerage, Ltd.                           |  | Bermuda                 
|Paul Ayotte Insurance Broker Ltd.              |  | Ontario, Canada         
|Pro-Form Insurance Services Inc.               |  | Ontario, Canada         
|Program Brokerage Corporation                  |  | Delaware                
|Rose, Horne & Stevenson Insurance Brokers Inc. |  | Ontario, Canada         
|Smallwood Insurance Services Ltd.              |  | British Columbia, Canada
|Spectrum Financial Services, Inc.              |  | Massachusetts           
|Tenax Employee Benefits & Consulting Inc.      |  | Ontario, Canada         
|The Hub Group (Ontario) Inc.                   |  | Ontario, Canada         
|The Hub Group Ontario (2002) Inc.              |  | Ontario, Canada         
|The Power Group Insurance Brokers Inc.         |  | Ontario, Canada         
|The Wholesale Insurance Group Inc.             |  | Ontario, Canada         
|TOS Insurance Services Ltd.                    |  | British Columbia, Canada
|Warner Associates, Inc.                        |  | Alabama