CNA Financial (CNA) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

CNA FINANCIAL CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth our ratio of earnings to fixed charges for each of the periods indicated.

	Years Ended December 31
(In millions, except ratio amounts)	2013		2012		2011		2010		2009
Income (loss) from continuing operations before income tax and noncontrolling interest	$	1,313	$	872	$	871	$	1,112	$	538
Less:
Income (loss) from equity investees	451		251		48		249		315
Add:
Fixed charges	184		191		196		178		150
Distributions from equity investees	128		162		145		113		92
Income as adjusted	$	1,174	$	974	$	1,164	$	1,154	$	465
Fixed charges:
Interest	$	166	$	170	$	175	$	157	$	128
Portion of rents representative of the interest factor	15		17		17		17		17
Interest credited to policyholders	3		4		4		4		5
Fixed charges	$	184	$	191	$	196	$	178	$	150
Ratio of earnings to fixed charges	6.4		5.1		5.9		6.5		3.1