The Travelers Companies, Inc. (TRV) 10-Q 2006 Q2 Quarterly report

Exhibit 12.1

THE ST. PAUL TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended  June 30,				Six Months Ended  June 30,
(in millions)	2006		2005		2006		2005
Income from continuing operations before income taxes	$	1,344	$	1,294	$	2,682	$	2,482
Interest	78		70		154		141
Portion of rentals deemed to be interest	17		15		35		30
Income available for fixed charges	$	1,439	$	1,379	$	2,871	$	2,653
Fixed charges:
Interest	$	78	$	70	$	154	$	141
Portion of rentals deemed to be interest	17		15		35		30
Total fixed charges	95		85		189		171
Preferred stock dividend requirements	2		2		4		5
Total fixed charges and preferred stock dividend requirements	$	97	$	87	$	193	$	176
Ratio of earnings to fixed charges	15.22		16.22		15.23		15.51
Ratio of earnings to combined fixed charges and preferred stock dividend requirements	14.92		15.85		14.93		15.07

The ratio of earnings to fixed charges is computed by dividing income available for fixed charges by the fixed charges. For purposes of this ratio, fixed charges consist of that portion of rentals deemed representative of the appropriate interest factor.