Exhibit 12.1 SYMONS INTERNATIONAL GROUP, INC. Computation of the Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends For the Years Ended December 31, 1992, 1993, 1994, 1995 and 1996 and for the Six Months Ended June 30, 1997 and 1996 (dollars in thousands) December December December December December June 30, June 30, 31, 1992 31, 1993 31, 1994 31, 1995 31, 1996 1996 1997 -------- -------- -------- -------- -------- ---- ---- Earnings (loss) before income taxes and interest costs $ 2,263 $ (310) $ 2,569 $ 8,688 $ 27,641 $ 7,331 $ 20,073 Amortization of deferred debt costs $ --- $ --- $ --- $ --- $ 154 $ 39 $ 116 ------- -------- -------- --------- -------- -------- -------- $ 2,263 $ (310) $ 2,569 $ 8,688 $ 27,795 $ 7,370 $ 20,189 ------- -------- -------- --------- -------- -------- -------- Interest costs $ 459 $ 996 $ 1,184 $ 1,248 $ 3,938 $ 1,261 $ 2,744 Amortization of deferred debt costs $ --- $ --- $ --- $ --- $ 154 $ 39 $ 116 -------- -------- --------- --------- -------- -------- -------- $ 459 $ 996 $ 1,184 $ 1,248 $ 4,092 $ 1,300 $ 2,860 -------- ------- -------- -------- -------- -------- -------- Ratio of earnings to fixed charges 4.93 (0.31) 2.17 6.96 6.79 5.67 7.06 ==== ====== ==== ==== ==== ==== ====