Exhibit 12.1

THE 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)	2007		2006		2007		2006
Income before income taxes	$	1,674	$	1,454	$	4,775	$	4,136
Interest	94		88		255		242
Portion of rentals deemed to be interest	19		18		59		53
Income available for fixed charges	$	1,787	$	1,560	$	5,089	$	4,431
Fixed charges:
Interest	$	94	$	88	$	255	$	242
Portion of rentals deemed to be interest	19		18		59		53
Total fixed charges	113		106		314		295
Preferred stock dividend requirements	1		2		5		6
Total fixed charges and preferred stock dividend requirements	$	114	$	108	$	319	$	301
Ratio of earnings to fixed charges	15.88		14.63		16.22		15.02
Ratio of earnings to combined fixed charges and preferred stock dividend requirements	15.66		14.38		15.97		14.73

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.