Exhibit 12.1

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended  June 30,				Six Months Ended  June 30,
(in millions)	2007		2006		2007		2006
Income before income taxes	$	1,641	$	1,344	$	3,101	$	2,682
Interest	85		78		161		154
Portion of rentals deemed to be interest	20		17		40		35
Income available for fixed charges	$	1,746	$	1,439	$	3,302	$	2,871
Fixed charges:
Interest	$	85	$	78	$	161	$	154
Portion of rentals deemed to be interest	20		17		40		35
Total fixed charges	105		95		201		189
Preferred stock dividend requirements	2		2		4		4
Total fixed charges and preferred stock dividend requirements	$	107	$	97	$	205	$	193
Ratio of earnings to fixed charges	16.65		15.22		16.41		15.23
Ratio of earnings to combined fixed charges and preferred stock dividend requirements	16.39		14.92		16.14		14.93

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.