Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends (Dollars in millions) Successor --------- One month ended September 30, 2003 ---- Pretax income from operations: Net income........................................................................... $24.2 Add income tax expense............................................................... 13.6 ----- Pretax income from operations..................................................... 37.8 ----- Add fixed charges: Interest expense..................................................................... 6.4 Interest expense on investment borrowings............................................ .6 Interest added to policyholder account balances ..................................... 38.1 Portion of rental (a)................................................................ 1.2 ----- Fixed charges..................................................................... 46.3 ----- Adjusted earnings................................................................. $84.1 ===== Ratio of earnings to fixed charges............................................ 1.82X ===== Fixed charges.......................................................................... $46.3 Add dividends on preferred stock, including dividends on preferred stock of subsidiaries (divided by the ratio of income before minority interest to pretax income)........................................................... 8.2 ----- Fixed charges plus preferred dividends and distributions on Company-obligated mandatorily redeemable preferred securities of subsidiary trusts............................................... $54.5 ===== Adjusted earnings................................................................. $84.1 ===== Ratio of earnings to fixed charges, preferred dividends and distributions on Company-obligated mandatorily redeemable preferred securities of subsidiary trusts................................... 1.54X ===== <FN> - -------------------- (a) Interest portion of rental is estimated to be 33 percent. </FN>