Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries

Ratio of Earnings to Fixed Charges

(In millions, except ratios)

	Nine Months Ended September 30, 2015		Years Ended December 31,
	(Unaudited)			2014		2013		2012		2011		2010
Earnings
Income before income taxes	$	1,756		$	2,057	$	1,973	$	1,696	$	1,404	$	769
Interest expense	117			165		167		181		199		233
Portion of rents representative of the interest factor	110			131		134		139		143		140
	$	1,983		$	2,353	$	2,274	$	2,016	$	1,746	$	1,142
Fixed Charges
Interest expense	$	117		$	165	$	167	$	181	$	199	$	233
Portion of rents representative of the interest factor	110			131		134		139		143		140
	$	227		$	296	$	301	$	320	$	342	$	373
Ratio of Earnings to Fixed Charges	8.7			7.9		7.6		6.3		5.1		3.1