Exhibit 12.1

Marsh & McLennan Companies, Inc. and Subsidiaries

Ratio of Earnings to Fixed Charges

(In millions, except ratios)

	Nine Months Ended September 30, 2008		Years Ended December 31,
	(Unaudited)		2007		2006		2005	2004	2003
Earnings
Income before income taxes and minority interest	$548	(a)	$	847	$	912	$302	$283	$	1,771
Interest expense	165			267		303	332	219		185
Portion of rents representative of the interest factor	120			170		170	149	153		141
	$833		$	1,284	$	1,385	$783	$655	$	2,097
Fixed Charges
Interest expense	$165		$	267	$	303	$332	$219	$	185
Portion of rents representative of the interest factor	120			170		170	149	153		141
	$285		$	437	$	473	$481	$372	$	326
Ratio of Earnings to Fixed Charges	2.9			2.9		2.9	1.6	1.8		6.4

^(a) Excludes the Kroll non-cash goodwill impairment charge of $540 million recorded in 2008.