Exhibit 8.1
SUBSIDIARIES OF THE COMPANY

NAME OF SUBSIDIARY
JURISDICTION OF INCORPORATION
Acorn Limited
Bermuda
Aspen (UK) Holdings Limited
United Kingdom
Aspen American Insurance Company
Texas
Aspen Australia Service Company Pty Ltd
Australia
Aspen Bermuda Limited
Bermuda
Aspen Capital Management, Ltd
Bermuda
Aspen European Holdings Limited
United Kingdom
Aspen Insurance U.S. Services Inc.
Delaware
Aspen Insurance UK Limited
United Kingdom
Aspen Insurance UK Services Limited
United Kingdom
Aspen Managing Agency Limited
United Kingdom
Aspen Re America, Inc.
Delaware
Aspen Specialty Insurance Company
North Dakota
Aspen Specialty Insurance Management, Inc.
Massachusetts
Aspen Specialty Insurance Solutions LLC
California
Aspen U.S. Holdings, Inc.
Delaware
Aspen UK Syndicate Services Limited
United Kingdom
Aspen Underwriting Limited
United Kingdom
Blue Waters Insurers, Corp.
Puerto Rico
Peregrine Reinsurance Ltd
Bermuda