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, except ratios)	2010		2009		2010		2009
Income before income taxes	$	1,371	$	1,250	$	3,109	$	2,918
Interest	95		98		290		284
Portion of rentals deemed to be interest	18		18		51		57
Income available for fixed charges	$	1,484	$	1,366	$	3,450	$	3,259
Fixed charges:
Interest	$	95	$	98	$	290	$	284
Portion of rentals deemed to be interest	18		18		51		57
Total fixed charges	113		116		341		341
Preferred stock dividend requirements	1		1		3		3
Total fixed charges and preferred stock dividend requirements	$	114	$	117	$	344	$	344
Ratio of earnings to fixed charges	13.17		11.72		10.12		9.56
Ratio of earnings to combined fixed charges and preferred stock dividend requirements	13.06		11.61		10.03		9.47

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.