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Exhibit 12.1

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(for the year ended December 31, in millions, except ratios)		2009		2008		2007		2006		2005
Income from continuing operations before income taxes and minority interest		$	4,711	$	3,716	$	6,216	$	5,725	$	2,671
Interest			382		370		346		324		286
Portion of rentals deemed to be interest			70		80		79		78		72
Income available for fixed charges		$	5,163	$	4,166	$	6,641	$	6,127	$	3,029
Fixed charges:
	Interest	$	382	$	370	$	346	$	324	$	286
	Portion of rentals deemed to be interest		70		80		79		78		72
Total fixed charges			452		450		425		402		358
Preferred stock dividend requirements			4		5		6		8		9
Total fixed charges and preferred stock dividend requirements		$	456	$	455	$	431	$	410	$	367
Ratio of earnings to fixed charges			11.43		9.26		15.64		15.24		8.46
Ratio of earnings to combined fixed charges and preferred stock dividend requirements			11.31		9.15		15.41		14.96		8.25

        The ratio of earnings to fixed charges is computed by dividing income available for fixed charges by the fixed charges. For purposes of this ratio, fixed charges consist of that portion of rentals deemed representative of the appropriate interest factor.

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Exhibit 12.1

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES