National General (NTTNP) 10-Q 2015 Q2 Quarterly report

EXHIBIT 12.1

National General Holdings Corp.

Computation of Ratio of Earnings to Fixed Charges

(Amounts in Thousands)

	Six Months Ended June 30,		Fiscal Year Ended									Period from March 1, 2010 (inception) to December 31,
	2015		2014			2013		2012		2011		2010
Earnings
Pretax income from continuing operations before adjustment for income or loss from equity investees	$	88,920	$	127,443		$	52,257	$	46,353	$	48,655	$	140,743
Fixed charges	17,681		17,736			2,042		1,787		1,994		1,795
	$	106,601	$	145,179		$	54,299	$	48,140	$	50,649	$	142,538
Less:
Interest capitalized	$	—	$	—		$	—	$	—	$	—	$	—
Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges	44		(2		)	82		—		14		—
	44		(2		)	82		—		14		—
Total Earnings	$	106,557	$	145,181		$	54,217	$	48,140	$	50,635	$	142,538
Fixed Charges:
Interest expensed and capitalized, and amortized premiums, discounts and capitalized expenses related to indebtedness	17,681		17,736			2,042		1,787		1,994		1,795
Expense of the interest within rental expense(1)	—		—			—		—		—		—
Total Fixed Charges	$	17,681	$	17,736		$	2,042	$	1,787	$	1,994	$	1,795
Ratio of Earnings to Fixed Charges	6.03		8.19			26.55		26.94		25.39		79.41

⁽¹⁾ Deemed to be immaterial