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

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

	Three Months Ended March 31, 2016		Year Ended December 31,
			2015		2014		2013		2012		2011
			(Dollars in thousands, except ratio)
Income before income taxes and cumulative effect of change in accounting principle, but after noncontrolling interest	$	173,939	$	731,617	$	951,477	$	693,512	$	701,877	$	513,156
Add:
Portion of rents representative of the interest factor		3,856		15,424		15,066		14,917		12,726		11,001
Interest expense		32,224		130,946		128,174		123,177		126,302		112,512
Income as adjusted	$	210,019	$	877,987	$	1,094,717	$	831,606	$	840,905	$	636,669
Fixed charges:
Interest expense	$	32,224	$	130,946	$	128,174	$	123,177	$	126,302	$	112,512
Portion of rents representative of the interest factor		3,856		15,424		15,066		14,917		12,726		11,001
Total	$	36,080	$	146,370	$	143,240	$	138,094	$	139,028	$	123,513
Ratio of Earnings to Fixed Charges		5.8		6.0		7.6		6.0		6.0		5.2