Exhibit 12.1

RenaissanceRe Holdings Ltd. and Subsidiaries

Statement Regarding Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Combined Fixed Charges and Preference Share Dividends

(in thousands)	3 Months Ended			For the Year Ended December 31,
	March 31, 2013			2012			2011			2010			2009			2008
Net income (loss)	$	190,474		$	566,014		$	(92,235	)	$	702,613		$	838,858		$	(13,280	)
Add back:
Income taxes		122			1,429			(315	)		(6,124	)		10,031			(180	)
(Income) loss from discontinued operations		—			(2,287	)		15,890			(62,670	)		(6,700	)		(33,846	)
Noncontrolling interests		38,607			148,040			(33,157	)		116,421			171,501			55,133
Fixed charges and preference share dividends		11,896			60,144			61,375			67,049			59,649			68,771
Distributed earnings from equity method investees		—			9,878			9,500			17,856			16,434			17,153
Less:
Earnings from equity method investees		(5,835	)		(23,238	)		36,533			11,814			(10,976	)		(13,603	)
Earnings available for fixed charges and preference share dividends	$	235,264		$	759,980		$	(2,409	)	$	846,959		$	1,078,797		$	80,148
Fixed charges and preference share dividends
Interest expensed	$	5,034		$	23,097		$	23,368		$	21,829		$	15,111		$	24,633
Amortized discounts related to indebtedness		23			92			92			69			—			—
Estimated interest within rental expense		564			2,060			2,915			3,033			2,238			1,838
Total fixed charges		5,621			25,249			26,375			24,931			17,349			26,471
Preference share dividends		6,275			34,895			35,000			42,118			42,300			42,300
Total fixed charges and preference share dividends	$	11,896		$	60,144		$	61,375		$	67,049		$	59,649		$	68,771
Ratio of earnings to fixed charges		41.85			30.10			(0.09	)		33.97			62.18			3.03
Ratio of earnings to combined fixed charges and preference share dividends		19.78			12.64			(0.04	)		12.63			18.09			1.17

RenRe North America Holdings Inc. and Subsidiaries

Statement Regarding Ratio of Earnings to Fixed Charges

	3 Months
	Ended			For the Year Ended December 31,
(in thousands)	March 31, 2013			2012			2011			2010			2009			2008
Net income (loss)	$	4,546		$	(34,693	)	$	(87,117	)	$	(4,169	)	$	1,147		$	(1,908	)
Add back:
Income taxes		63			1,155			5,568			(818	)		9,226			573
(Income) loss from discontinued operations		—			(2,287	)		15,890			(62,670	)		(6,700	)		(33,846	)
Noncontrolling interest		208			(608	)		(540	)		111			—			—
Fixed charges		3,681			14,696			15,365			12,100			9,705			3,810
Distributed earnings from equity method investees		—			2,000			3,000			5,000			3,975			—
Less:
Earnings from equity method investees		(1,269	)		(2,617	)		(4,522	)		(2,945	)		954			2,410
Earnings available for fixed charges	$	7,228		$	(22,353	)	$	(52,356	)	$	(53,389	)	$	18,308		$	(28,961	)
Fixed charges
Interest expensed	$	3,617		$	14,467		$	14,568		$	11,518		$	9,073		$	3,577
Amortized discounts related to indebtedness		23			92			92			69			—			—
Estimated interest within rental expense		41			137			705			617			632			233
Total fixed charges	$	3,681		$	14,696		$	15,365		$	12,204		$	9,705		$	3,810
Ratio of earnings to fixed charges		1.96			(1.52	)		(3.41	)		(4.37	)		1.89			(7.60	)