Exhibit 12.1

THE CHUBB CORPORATION

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES

	Years Ended December 31
	2012		2011		2010		2009			2008
	(in millions except for ratio amounts)
Income from continuing operations before provision for income taxes	$	1,996	$	2,199	$	2,988	$	2,962		$	2,407
Less:
Income (loss) from equity investees		68		240		340		(9	)		(14	)
Add:
Interest expensed		224		245		248		248			240
Capitalized interest amortized or expensed		2		—		2		2			8
Portion of rents representative of the interest factor		27		28		28		29			31
Distributions from equity investees		154		184		125		51			166
Income as adjusted	$	2,335	$	2,416	$	3,051	$	3,301		$	2,866
Fixed charges:
Interest expensed	$	224	$	245	$	248	$	248		$	240
Portion of rents representative of the interest factor		27		28		28		29			31
Fixed charges	$	251	$	273	$	276	$	277		$	271
Ratio of consolidated earnings to fixed charges		9.30		8.85		11.05		11.92			10.58