EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Year Ended December 31
	2004			2003			2002		2001		2000
	(in millions of dollars, except ratios)
Earnings
Income (Loss) from Continuing Operations Before Income Tax and Cumulative Effect of Accounting Principle Change	$	(259.5	)	$	(435.2	)	$	593.2	$	753.8	$	821.2
Fixed Charges		241.1			221.1			202.3		218.1		228.1
Adjusted Earnings	$	(18.4	)	$	(214.1	)	$	795.5	$	971.9	$	1,049.3
Fixed Charges
Interest and Debt Expense	$	207.1		$	187.2		$	162.4	$	169.6	$	181.8
Interest Credited to Policyholders		14.2			16.7			23.8		30.4		32.3
Amortization of Deferred Debt Costs		7.3			5.4			3.3		7.1		2.4
Portion of Rents Deemed Representative of Interest		12.5			11.8			12.8		11.0		11.6
Total Fixed Charges	$	241.1		$	221.1		$	202.3	$	218.1	$	228.1
Ratio of Earnings to Fixed Charges			(a)			(a)		3.9		4.5		4.6

(a) Earnings were inadequate to cover fixed charges. The coverage deficiency totaled $259.5 million and $435.2 million for the years ended December 31, 2004 and 2003, respectively.