Exhibit 12.1
THE CHUBB CORPORATION
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
| Years Ended December 31 | ||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
| (in millions except for ratio amounts) | ||||||||||||||||||||
| Income from continuing operations before provision for income taxes |
$ | 2,861 | $ | 3,237 | $ | 1,996 | $ | 2,199 | $ | 2,988 | ||||||||||
| Less: |
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| Income from equity investees |
158 | 183 | 68 | 240 | 340 | |||||||||||||||
| Add: |
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| Interest expensed |
209 | 213 | 224 | 245 | 248 | |||||||||||||||
| Capitalized interest amortized or expensed |
3 | 3 | 2 | — | 2 | |||||||||||||||
| Portion of rents representative of the interest factor |
27 | 28 | 27 | 28 | 28 | |||||||||||||||
| Distributions from equity investees |
173 | 258 | 154 | 184 | 125 | |||||||||||||||
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| Income as adjusted |
$ | 3,115 | $ | 3,556 | $ | 2,335 | $ | 2,416 | $ | 3,051 | ||||||||||
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| Fixed charges: |
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| Interest expensed |
$ | 209 | $ | 213 | $ | 224 | $ | 245 | $ | 248 | ||||||||||
| Portion of rents representative of the interest factor |
27 | 28 | 27 | 28 | 28 | |||||||||||||||
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| Fixed charges |
$ | 236 | $ | 241 | $ | 251 | $ | 273 | $ | 276 | ||||||||||
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| Ratio of consolidated earnings to fixed charges |
13.20 | 14.76 | 9.30 | 8.85 | 11.05 | |||||||||||||||
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