Exhibit 12.1

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

	Three Months Ended September 30,					Nine Months Ended September 30,
(in millions)	2006		2005			2006		2005
Income (loss) from continuing operations before income taxes	$	1,454	$	(8	)	$	4,136	$	2,474
Interest	88		70			242		211
Portion of rentals deemed to be interest	18		16			53		46
Income available for fixed charges	$	1,560	$	78		$	4,431	$	2,731
Fixed charges:
Interest	$	88	$	70		$	242	$	211
Portion of rentals deemed to be interest	18		16			53		46
Total fixed charges	106		86			295		257
Preferred stock dividend requirements	2		2			6		8
Total fixed charges and preferred stock dividend requirements	$	108	$	88		$	301	$	265
Ratio of earnings to fixed charges	14.63		0.91			15.02		10.63
Ratio of earnings to combined fixed charges and preferred stock dividend requirements	14.38		0.89			14.73		10.31

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.