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Hub International Limited
Subsidiaries as of 12/31/03
Page 1 of 1

|                                                           |  |                         
|---------------------------------------------------------- |  | ------------------------
|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          
|Bru Agencies Ltd.                                          |  | Alberta, Canada         
|Burnham Insurance Group, Inc.                              |  | Michigan                
|Burnham Stewart Reinsurance Ltd.                           |  | Turks & Caicos          
|C.J. McCarthy Insurance Agency, Inc.                       |  | Massachusetts           
|Claims Administration Corporation                          |  | Delaware                
|Cross Border Underwriting Services Inc.                    |  | Ontario, Canada         
|Ernest-Roy Hobbs Inc.                                      |  | Quebec, 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 Inc.                                         |  | Ontario, Canada         
|Hub Hungary Liquidity Management Limited Liability Company |  | Hungary                 
|Hub International Limited                                  |  | Ontario, Canada         
|Hub International of California, Inc.                      |  | Delaware                
|Hub International of Indiana Limited                       |  | Indiana                 
|Hub U.S. Holdings, Inc.                                    |  | Delaware                
|Hubacq Inc.                                                |  | Ontario, Canada         
|Kaye Group Inc.                                            |  | Delaware                
|Kaye Insurance Associates, Inc.                            |  | Delaware                
|Mack and Parker, Inc.                                      |  | Illinois                
|Martin Assurance & Gestion de Risques Inc.                 |  | Quebec, Canada          
|MBA/BIG Management Partners LLC                            |  | Michigan                
|Michigan Bankers Insurance Center LLC                     |  | Michigan                
|Mitchell McConnell Insurance Ltd.                          |  | New Brunswick, Canada   
|Page Insurance Ltd.                                        |  | Alberta, Canada         
|Park Brokerage, Ltd.                                       |  | Bermuda                 
|Program Brokerage Corporation                              |  | Delaware                
|Spectrum Financial Services, Inc.                          |  | Massachusetts           
|The Hub Group (Ontario) Inc.                               |  | Ontario, Canada         
|The Wholesale Insurance Group Inc.                         |  | Ontario, Canada         
|TOS Insurance Services (Brentwood) Ltd.                    |  | British Columbia, Canada
|TOS Insurance Services (Richmond Auto Mall) Ltd.           |  | British Columbia, Canada
|TOS Insurance Services Ltd.                                |  | British Columbia, Canada