Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
	Three
	Months
	Ended
	March 31,
	2007		Years Ended December 31,
	(Unaudited)		2006		2005		2004		2003		2002
Earnings
Income before income taxes and
minority interest	$	335	$	912	$	302	$	300	$	1,771	$	1,520
Interest expense		71		303		332		218		185		160
Portion of rents representative of the
interest factor		47		162		161		157		142		113
	$	453	$	1,377	$	795	$	675	$	2,098	$	1,793
Fixed Charges
Interest expense	$	71	$	303	$	332	$	218	$	185	$	160
Portion of rents representative of the
interest factor		47		162		161		157		142		113
	$	118	$	465	$	493	$	375	$	327	$	273
Ratio of Earnings to Fixed Charges		3.8		3.0		1.6		1.8		6.4		6.6