EXHIBIT 12

Marsh & McLennan Companies, Inc. and Subsidiaries

Ratio of Earnings to Fixed Charges

(In millions, except ratios)

	Years Ended December 31,
		2010		2009		2008		2007		2006
Earnings
Income before income taxes	$	769	$	552	$	494	$	759	$	799
Interest expense		233		241		220		266		303
Portion of rents representative of the interest factor		140		132		145		162		162
	$	1,142	$	925	$	859	$	1,187	$	1,264
Fixed Charges
Interest expense	$	233	$	241	$	220	$	266	$	303
Portion of rents representative of the interest factor		140		132		145		162		162
	$	373	$	373	$	365	$	428	$	465
Ratio of Earnings to Fixed Charges		3.1		2.5		2.4		2.8		2.7