W. R. Berkley (WRB) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1)

	Six
	Months Ended June		Year Ended December 31,
	30, 2010		2009		2008		2007		2006		2005
	(Dollars in thousands, except ratios)
Income before income taxes and cumulative effect of change in accounting principle, but after noncontrolling interests	$	306,226	$	382,207	$	326,060	$	1,089,309	$	985,916	$	767,413
Add:
Portion of rents representative of the interest factor		4,678		9,356		7,934		7,146		6,449		5,810
Interest expense		52,055		87,989		84,623		88,996		92,522		85,926
Income as adjusted	$	362,959	$	479,552	$	418,617	$	1,185,451	$	1,084,887	$	859,149
Fixed charges:
Interest expense	$	52,055	$	87,989	$	84,623	$	88,996	$	92,522	$	85,926
Portion of rents representative of the interest factor		4,678		9,356		7,934		7,146		6,449		5,810
Total	$	56,733	$	97,345	$	92,557	$	96,142	$	98,971	$	91,736
Ratio of Earnings to Fixed Charges		6.4		4.9		4.5		12.3		11.0		9.4

(1) No preferred stock dividends were paid during the periods set forth above.