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

(for the year ended December 31, in millions, except ratios)		2010		2009		2008		2007		2006

Income before income taxes		$	4,306	$	4,711	$	3,716	$	6,216	$	5,725
Interest			388		382		370		346		324
Portion of rentals deemed to be interest			68		70		80		79		78

Income available for fixed charges		$	4,762	$	5,163	$	4,166	$	6,641	$	6,127

Fixed charges:
	Interest	$	388	$	382	$	370	$	346	$	324
	Portion of rentals deemed to be interest		68		70		80		79		78

Total fixed charges			456		452		450		425		402
Preferred stock dividend requirements			4		4		5		6		8

Total fixed charges and preferred stock dividend requirements		$	460	$	456	$	455	$	431	$	410

Ratio of earnings to fixed charges			10.44		11.43		9.26		15.64		15.24

Ratio of earnings to combined fixed charges and preferred stock dividend requirements			10.35		11.31		9.15		15.41		14.96

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.