Willis Netherlands Holdings B.V. S-3ASR Automatic shelf registration

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Six months ended June  30,		Year ended December 31,
	2012		2011		2010		2009		2008			2007
	(millions except ratios)
Income from continuing operations before income taxes, interest in earnings of associates and noncontrolling interests	$	431	$	239	$	587	$	516	$	398		$	554
Add back fixed charges:
Total fixed charges		87		197		208		224		150			107
Dividends from associates		4		7		5		12		9			6
Less:
Capitalized interest		—		—		—		—		(1	)		(2	)
Income as adjusted	$	522	$	443	$	800	$	752	$	556		$	665
Fixed charges
Interest expense	$	65	$	156	$	166	$	174	$	105		$	66
Portions of rents representative of interest factor		22		41		42		50		45			41
Total fixed charges	$	87	$	197	$	208	$	224	$	150		$	107
Ratio of earnings to fixed charges		6.0		2.2		3.8		3.4		3.7			6.2

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

	Six months ended June 30,		Year ended December 31,
	2012		2011		2010		2009		2008			2007
	(millions except ratios)
Income from continuing operations before income taxes, interest in earnings of associates and noncontrolling interests	$	431	$	239	$	587	$	516	$	398		$	554
Add back fixed charges:
Total fixed charges		87		197		208		224		150			107
Dividends from associates		4		7		5		12		9			6
Less:
Capitalized interest		—		—		—		—		(1	)		(2	)
Income as adjusted	$	522	$	443	$	800	$	752	$	556		$	665
Fixed charges and preferred stock dividends
Interest expense	$	65	$	156	$	166	$	174	$	105		$	66
Portions of rents representative of interest factor		22		41		42		50		45			41
Total fixed charges	$	87	$	197	$	208	$	224	$	150		$	107
Preferred stock dividends		—		—		—		—		—			—
Total fixed charges and preferred stock dividends	$	87	$	197	$	208	$	224	$	150		$	107
Ratio of earnings to combined fixed charges and preferred stock dividends		6.0		2.2		3.8		3.4		3.7			6.2