RenaissanceRe (RNR) S-3ASR Automatic shelf registration

Exhibit 12.1

RenaissanceRe Holdings Ltd. and Subsidiaries

Statement Regarding Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Combined Fixed Charges and Preference Share Dividends

	3 Months Ended March 31, 2010
				For the Year Ended December 31,
(in thousands)				2009			2008			2007			2006			2005
Net income (loss)	$	165,047		$	838,858		$	(13,280	)	$	569,575		$	761,635		$	(281,413	)
Add back:
Income taxes		(4,215	)		9,094			568			(18,432	)		935			—
Redeemable noncontrolling interest - DaVinciRe		10,550			171,501			55,133			164,396			144,159			(156,449	)
Fixed charges and preference share dividends		14,489			59,649			68,771			78,159			74,453			64,301
Distributed earnings from equity method investees		14,356			16,434			17,153			25,023			12,468			17,241
Less:
Undistributed earnings from equity method investees		(2,156	)		(10,976	)		(13,603	)		128,609			(34,528	)		(28,259	)
Earnings available for fixed charges and preference share dividends	$	198,071		$	1,084,560		$	114,742		$	947,330		$	959,122		$	(384,579	)
Fixed charges and preference share dividends
Interest expensed	$	3,156		$	15,111		$	24,633		$	33,626		$	37,602		$	28,218
Estimated interest within rental expense		758			2,238			1,838			1,672			1,376			1,433
Preference share dividends		10,575			42,300			42,300			42,861			35,475			34,650
Total fixed charges and preference share dividends	$	14,489		$	59,649		$	68,771		$	78,159		$	74,453		$	64,301
Ratio of earnings to fixed charges		50.61			62.51			4.33			26.84			24.61			(12.97	)
Ratio of earnings to combined fixed charges and preference share dividends		13.67			18.18			1.67			12.12			12.88			(5.98	)

RenRe North America Holdings Inc. and Subsidiaries

Statement Regarding Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Combined Fixed Charges and Preference Share Dividends

	3 Months Ended March 31, 2010
				For the Year Ended December 31,
(in thousands)				2009		2008			2007			2006			2005
Net income (loss)	$	(6,933	)	$	1,148	$	(1,908	)	$	40,327		$	16,815		$	12,245
Add back:
Income taxes		(3,892	)		9,226		573			(18,541	)		893			—
Redeemable noncontrolling interest		—			—		—			—			(151	)		(50	)
Fixed charges and preference share dividends		3,124			9,705		3,810			1,333			1,117			968
Distributed earnings from equity method investees		1,500			3,975		—			—			—			—
Less:
Undistributed earnings from equity method investees		477			954		2,410			—			—			—
Earnings available for fixed charges and preference share dividends	$	(5,724	)	$	25,008	$	4,885		$	23,119		$	18,674		$	13,163
Fixed charges and preference share dividends
Interest expensed	$	2,970		$	9,073	$	3,577		$	1,066		$	840		$	840
Estimated interest within rental expense		154			632		233			267			277			128
Preference share dividends		—			—		—			—			—			—
Total fixed charges and preference share dividends	$	3,124		$	9,705	$	3,810		$	1,333		$	1,117		$	968
Ratio of earnings to fixed charges		(1.83	)		2.58		1.28			17.34			16.72			13.60
Ratio of earnings to combined fixed charges and preference share dividends		(1.83	)		2.58		1.28			17.34			16.72			13.60