EX-12.1 6 cb-12312015xex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

Chubb Limited
Ratio of Earnings to Fixed Charges

 
Years Ended December 31
(in millions of U.S. dollars, except ratios)
2015

 
2014

 
2013

 
2012

 
2011

Net income
$
2,834

 
$
2,853

 
$
3,758

 
$
2,706

 
$
1,540

Add:
 
 
 
 
 
 
 
 
 
Provision for income taxes
462

 
634

 
480

 
270

 
502

Fixed charges
342

 
322

 
318

 
287

 
288

Earnings for computation
$
3,638

 
$
3,809

 
$
4,556

 
$
3,263

 
$
2,330

Fixed charges
 
 
 
 
 
 
 
 
 
Interest expense
$
300

 
$
280

 
$
275

 
$
250

 
$
250

Portion of rental expense deemed to be interest
42

 
42

 
43

 
37

 
38

Total fixed charges
$
342

 
$
322

 
$
318

 
$
287

 
$
288

Ratio of earnings to fixed charges
10.6

 
11.8

 
14.4

 
11.4

 
8.1


Note: Chubb Limited recognizes accruals for interest and penalties, if any, related to unrecognized tax benefits in income tax expense (i.e., excluded from interest expense).