Old Republic International (ORI) S-3ASR Automatic shelf registration

Exhibit 12.1

OLD REPUBLIC INTERNATIONAL CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

($ in Thousands)

	Years Ended December 31,
ACTUAL	2017		2016		2015		2014		2013
EARNINGS AVAILABLE FOR FIXED CHARGES:
Income (loss) from continuing operations before income taxes (credits)	725,411		686,012		631,823		609,485		672,952
Adjustment — income from equity investees	(1,738	)	(1,124	)	(1,431	)	(2,968	)	(5,643	)
Adjustment — distributed income of equity investees	105		823		441		411		708
Fixed charges:
Interest expense	64,543		50,943		42,936		28,365		23,197
	788,321		736,654		673,769		635,293		691,214
FIXED CHARGES:
Interest expensed and capitalized	64,543		50,943		42,936		28,365		23,197
	64,543		50,943		42,936		28,365		23,197
RATIO OF EARNINGS TO FIXED CHARGES	12.21		14.46		15.69		22.40		29.80
DEFICIENCY	N/A		N/A		N/A		N/A		N/A