Exhibit 12.1

THE CHUBB CORPORATION

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES

	Years Ended December 31
	2014		2013		2012		2011		2010
	(in millions except for ratio amounts)
Income from continuing operations before provision for income taxes	$	2,861	$	3,237	$	1,996	$	2,199	$	2,988
Less:
Income from equity investees		158		183		68		240		340
Add:
Interest expensed		209		213		224		245		248
Capitalized interest amortized or expensed		3		3		2		—		2
Portion of rents representative of the interest factor		27		28		27		28		28
Distributions from equity investees		173		258		154		184		125
Income as adjusted	$	3,115	$	3,556	$	2,335	$	2,416	$	3,051
Fixed charges:
Interest expensed	$	209	$	213	$	224	$	245	$	248
Portion of rents representative of the interest factor		27		28		27		28		28
Fixed charges	$	236	$	241	$	251	$	273	$	276
Ratio of consolidated earnings to fixed charges		13.20		14.76		9.30		8.85		11.05