A Global Leader in P&C Second Quarter 2019 Second Quarter 2019

“The Chubb name carries our promise of superior service, underwriting and execution. Our unique combination of people, products and places positions us to meet the needs of clients no matter where they are in the world.” — Evan Greenberg, Chairman & CEO

2 Second Quarter 2019

Who We Are • The world’s largest publicly traded property and casualty (P&C) insurer, based on market capitalization of $67.2 billion.* • A truly global company, with local operations in 54 countries and territories. • Insurance is our only business. • Well balanced by product and customer:  A global leader in traditional and specialty P&C coverage for industrial commercial and mid-market companies  The leading commercial lines insurer in the U.S. and one of the largest financial lines writers globally  The leading personal lines insurer for America’s successful individuals and families and a large personal lines provider globally  A global leader in personal accident and supplemental  A P&C reinsurer  An international life insurer focused on Asia

• , the parent company of Chubb, is listed on the New York Stock Exchange (NYSE:CB) and is a component of the S&P 500 index. • Exceptional financial strength, managing risk conservatively in both underwriting and investing. • Core operating insurance companies are rated “AA” for financial strength by S&P and “A++” by A.M. Best. *At June 30, 2019 Source: SNL 3 Second Quarter 2019

Global Reach • Chubb has an extensive local presence globally, with insurance professionals and operating subsidiaries in 54 countries and territories. • Nearly 40 percent of the company’s business is transacted outside the .

Argentina Denmark Italy Panama Sweden Geographic Sources of Premium* Australia Ecuador Japan Peru /Canada Austria Egypt Korea Philippines Taiwan Latin America United 7% Belgium Finland Macau SAR Poland Thailand States 7% Bermuda France Malaysia Portugal Tunisia Asia Brazil Germany Mexico Puerto Rico Turkey 11% Canada Gibraltar Myanmar Russia United Arab 61% Chile Hong Kong SAR Netherlands Saudi Arabia Emirates Europe/ China Hungary New Zealand Singapore United Kingdom 14% Eurasia & Africa Colombia Indonesia Norway South Africa United States Czech Republic Ireland Pakistan Spain Vietnam

North America Europe/Eurasia & Africa Asia Latin America

Premiums** $25.9 billion Premiums** $5.1 billion Premiums** $4.1 billion Premiums** $2.9 billion Employees 18,250 Employees 3,800 Employees 6,000 Employees 5,000 Offices 194 Offices 93 Offices 243 Offices 112

* YTD 2019 gross premiums written ** FY 2018 gross premiums written

4 Second Quarter 2019

Product Breadth • Chubb has one of the largest product portfolios in the global insurance industry.  More than 200 distinct commercial insurance and products and services  Specialty coverages for clients ranging from multinational corporations, middle market companies and small businesses to consumers

Products and Services Premium Distribution by Product*

Commercial Property & Personal Lines 3% Global Reinsurance Casualty Traditional and high-value Agriculture Full range of traditional and automobile, homeowners, Large Corporate recreational marine/aviation, specialty products for businesses 4% Commercial P&C of all sizes valuables and umbrella liability Global A&H 18% coverage; specialty coverage and Life Accident & Health such as mobile phone handset 18% Personal accident, supplemental insurance health and travel accident insurance Reinsurance Agriculture Property catastrophe, casualty, Middle Market/ Crop insurance and farm and A&H and other coverages Small Commercial 26% P&C ranch-related agribusiness Life Personal Lines 21% Savings and protection-oriented products 10%

Wholesale Specialty Commercial P&C

*YTD 2019 net premiums written

5 Second Quarter 2019

Business Units with Extensive Distribution Capabilities

• Chubb’s insurance products are distributed through retail and wholesale brokers, independent and captive agents, bancassurance, mobilassurance, direct marketing and other channels.

North America Overseas General

Major Accounts Westchester International Eurasia & Africa: Operations Commercial P&C insurance Commercial P&C excess and Commercial P&C, A&H, and in nine countries serving products for the large corporate surplus lines sold through traditional and specialty personal commercial customers with P&C market sold by retail brokers wholesale brokers lines sold by retail brokers, agents products and consumers and other channels in five regions: through A&H and personal lines Commercial Insurance Chubb Bermuda

Commercial P&C insurance Liability, property, political risk Europe: Operations in the U.K. Chubb Global Markets products for middle market coverages and captive programs and 18 other countries Commercial P&C excess and companies sold by independent sold by large international brokers comprised of P&C commercial surplus lines and A&H sold by agents and retail brokers lines and consumer lines, Agriculture wholesale brokers in the London including A&H and specialty Small Commercial Crop insurance from Rain and market and through Lloyd’s personal lines P&C insurance products for small Hail and farm and other P&C commercial clients sold by coverages, sold by agents and Asia Pacific: Operations in 13 Life independent agents and retail brokers countries – six with both life brokers and non-life operations – Combined Insurance Chubb Life serving commercial customers Personal Risk Services Personal accident and Protection and savings products and consumers with P&C, A&H Personal insurance products and supplemental health insurance sold by agents, brokers, and personal lines services, including home, auto, coverages sold by captive agents telemarketing, bancassurance, valuables, umbrella and recreational Latin America: Operations in mobilassurance and other

marine insurance, for successful nine countries serving channels in Asia. individuals and families sold by commercial customers with P&C independent agents and brokers products and consumers through A&H and personal lines Reinsurance Far East: Operations in Japan serving commercial customers Chubb Tempest Re with P&C products and P&C reinsurance sold worldwide consumers through A&H and by reinsurance brokers personal lines 6

Second Quarter 2019

Commercial Property & Casualty

• For large corporations and multinationals, Chubb’s underwriting, claims and risk engineering professionals have the underwriting expertise, risk appetite and global network to tailor insurance coverage and services to help clients reduce risk and mitigate loss. • For middle market businesses, Chubb delivers a broad range of high-quality customized and packaged products and services. • For small businesses, coverage includes packaged and customized solutions to meet specific needs. Products and Industry Practices Commercial Coverages Industry Practices • Agriculture • General Liability • Advanced Manufacturing • Manufacturing • Aviation/Aerospace • Group Personal Excess Liability • Clean Tech • Marine Operations • Business Owners Policy (BOP) • Kidnap & Ransom • Construction • Media/Entertainment • Builders Risk • Management Liability • Cultural Institutions • Mergers & Acquisitions • Commercial Auto • Marine — Inland/Ocean • Educational Institutions • Multinational • Contract Liability • Media Liability • Energy • Not-for-Profit Organizations • Construction/Wrap-Ups • Medical Risk • Federal Government • Professional Services Firms • Crime and Fidelity • Mergers & Acquisitions Contractors • Private Companies • Cyber • Package • Financial Institutions • Private Equity • Directors & Officers • Political Risk/Trade Credit • Food Processing/Distribution • Program Business • Energy & Power Generation • Product Liability/Recall • Global Mergers & Acquisitions • Public Entities • Employment Practices Liability • Property • Healthcare • Real Estate & Hospitality • Environmental • Railroad Liability • Healthcare Information • Technology • Equipment Breakdown • Professional Liability Technology • Transportation • Events Liability • Specialty Casualty • Law Firms • Wineries • Excess/Umbrella • Surety • Life Sciences • Fiduciary Liability • Transactional Risk • Financial Lines • Workers’ Compensation • Foreign Casualty • Workplace Violence Expense

7 Second Quarter 2019

Accident & Health • Chubb works with distribution partner organizations worldwide to offer affordable personal accident and supplemental health insurance products to employees, members and customers. • Products include employee benefits, special insurance offered through affinity marketing programs, associations and agents, as well as in the commercial market for group coverage.

Products and Partners

Products Sponsoring partners • Personal accident (individual and group) • Employers • Supplemental health and disability (hospital income, critical illness, • Financial institutions cancer, disability) • Colleges, universities and other learning institutions • Travel insurance (business and leisure) • Affinity groups (associations, labor unions, etc.) • Student accident (international travel, study abroad) • Cruise lines, travel agencies and tour operators • Global medical • Industries (retailers, utilities, telecommunications companies, etc.) • Employee benefits • Payment protection (life, disability, unemployment)

8 Second Quarter 2019

Personal Lines Insurance • Chubb is the premier provider of high-value automobile, homeowners, recreational marine/aviation, valuables and umbrella liability coverage, with exceptional claims service, for successful individuals and families in the U.S., Canada and selected international markets including the U.K., Ireland, Australia, France, Singapore and the Netherlands. • Chubb’s international personal lines division provides a broad range of traditional and specialty insurance products to targeted customer segments in emerging and developed markets.

Products

Homeowners Automobile Recreational Marine • Fire/water damage • Collision/damage Personal Aviation • Contents • Theft/vandalism Valuables – Jewelry, Art and Antiques • Theft • Liability Collector Car • Debris removal • Military personnel Umbrella Liability • Storm damage • Medical expenses Mobile Technology • Liability • Property damage

• Living expenses • Tourist policies • Towing expenses

9 Second Quarter 2019

Life Insurance • Chubb Life provides protection and savings-oriented products to individuals and groups primarily in Asia. • Chubb Life serves the needs of consumers through a variety of distribution channels including agents, banks, retailers, brokers, worksite marketing and telemarketing.

Products

Protection products Savings-orientated products Riders Group life • Term life • Universal life • Personal accident Group medical • Whole life • Variable/unit-linked • Disability • Credit/mortgage life • Endowments • In-hospital and surgical cash • Annuities • Critical illness/cancer • Waiver of premium

10 Second Quarter 2019

Reinsurance • Chubb Tempest Re provides a broad range of reinsurance products to a diverse array of primary insurance companies worldwide. • The company’s underwriting, actuarial and claims expertise in property catastrophe reinsurance and other diversified lines, including casualty, enables it to tailor solutions to meet the unique, complex needs of each client.

Products

Property Catastrophe Accident & Health • Occurrence excess of loss Agriculture • Aggregate excess of loss Automobile • Proportional treaties Captive Programs • Reinstatement premium protection Casualty/Liability • Second- and third-event coverages Cyber Liability • Catastrophe bonds Energy • Industry loss warranty coverages Professional Liability

Directors and Officers Liability

Marine

Surety & Fidelity

Workers Compensation

11 Second Quarter 2019

Underwriting Expertise • Chubb is an underwriting company — we have a passion for the art and science of underwriting. • Our underwriters have deep expertise in a broad range of industries and specialty coverage areas — risks where an underwriter makes a difference. • Discipline defines our underwriting approach — we embrace risk as long as we fully understand it and can earn an acceptable return. • Second quarter 2019 P&C combined ratio of 90.1%. Excluding catastrophe losses, the current accident year P&C combined ratio was 88.9%.

P&C Combined Ratio vs. Peers

The company’s underwriting results have outperformed the average of 105% North American and Global Peers over the last five years (2014-2108).

Averages 100%

1 Year 3 Year 5 Year

Peers1 99.2% 99.4% 98.2% 95% Chubb 90.6% 91.3% 89.8%

90% 1 Includes AIG, , AXA, CNA, HIG, QBE, RSA, TRV, XL and Zurich. XL’s 2018 results are for the AXA-XL division of AXA.

Source: SNL and company disclosures 85%

2014 2015 2016 2017 2018

12 Second Quarter 2019

Claims and Engineering • Chubb’s claim handling service is renowned for its quality, promptness and fairness  Deep technical knowledge and talent  Expertise and scale to handle claims of all sizes and complexity  Investment in technology and innovation to improve claim outcomes and enhance ease of doing business for customers and distribution partners

• Industry-leading risk engineering services with more than 400 risk engineers worldwide who help companies anticipate and minimize costly exposures  Extensive technical expertise and business acumen  Trusted guidance and customized risk management programs  Web-based platform and online library of risk management resources to help clients stay ahead of risk

• Loss prevention solutions from personal risk services consultants who have proven expertise in residential architectural and interior design, historic home preservation, security, fire protection and collections management

13 Second Quarter 2019

Proven Insurance Leadership • Chubb’s top leaders have built their entire careers in insurance and managed their business lines through a variety of insurance cycles and economic conditions.

Evan Greenberg John Keogh John Lupica Paul Krump Juan Luis Ortega Joe Vasquez Russell Bundschuh Chairman & Executive Vice Vice Chairman, Executive Vice Executive Vice Senior Vice Senior Vice Chief Executive Chairman, Chubb Chubb Group; President, President, President, President, Officer Limited/Chubb President, North Chubb Group; Chubb Group; Chubb Group; Chubb Group; Chubb Group; America Major President, North President, Overseas Global Accident & President, Limited/Chubb Chief Operating Accounts and America General Insurance Health Chubb Life Group Officer Specialty Insurance Commercial and Personal Insurance

• Over 40 years of • Over 30 years of • Over 30 years of • Over 35 years of • Over 20 years of • Nearly 30 years of • Over 15 years of insurance insurance insurance insurance insurance insurance insurance experience experience experience experience experience experience experience • Joined the • Joined the • Joined the • Joined the • Joined the • Joined the • Joined the company in 2001 company in 2006 company in 2000 company in 1982 company in 1999 company in 2000 company in 2010

14 Second Quarter 2019

Exceptional Balance Sheet Strength • Chubb’s total capital position is $67.5 billion.

• Net loss reserves, which back our policyholder commitments, of $47.8 billion.

Balance Sheet Highlights 6/30/19 $ in billions

Total Assets $174.5

Total Investments 105.7

Net Loss Reserves 47.8

Total Debt 13.7

Shareholders’ Equity 53.8

Total Capital 67.5

15 Second Quarter 2019

Financial Strength Ratings • Chubb is highly rated by the rating agencies for financial strength.  A primary component of Standard & Poor’s (S&P) rating is its evaluation of Chubb’s enterprise risk management (ERM) process. • The company manages risk on both sides of its balance sheet by maintaining underwriting discipline, managing exposure accumulations and investing assets conservatively.

Rating Agency Financial Outlook Chubb’s “Strong” ERM rating from S&P places it in the Strength Rating as of 6/17/19 top 20% of North America and Bermuda companies

S&P AA Stable Very Strong 1% Weak 1% AM Best A++ Stable Strong Fitch AA Stable 19%

Moody’s Aa3 Positive Adequate Adequate with 62% Strong Risk 17% Ratings apply to Chubb’s core operating insurance companies Controls

Source: S&P ERM rating report (June 2018) 16 Second Quarter 2019

Conservative Investment Philosophy • 94% of Chubb’s investment portfolio is in fixed income securities, with an average credit quality of A (S&P) and Aa (Moody’s) and a duration of about four years. • The portfolio’s asset allocation is well diversified across issuers, geographies and sectors.

$99.4 Billion Fixed Income Investment Portfolio (As of June 30, 2019)

Credit Quality Asset Allocation

Short-term 4% B Treasury BB 6% 5% 9% AA U.S. Corporate BBB Municipal 38% 32% 14% 13%

21% AAA 15% Mortgage-backed 24% 19% Non U.S.

A

17 Second Quarter 2019

Citizenship at Chubb

Philanthropy Environment

Chubb recognizes its responsibility to assist less fortunate Chubb recognizes the reality of climate change and the substantial individuals and communities in achieving and sustaining productive impact of human activity on our planet. Our environmental activities and healthy lives in geographic areas where the company operates. reflect our desire to do our part as a steward of the Earth. Through The company’s philanthropy is funded principally through the our Foundation, we support important environmental projects, Chubb Charitable Foundation and the Chubb Rule of Law Fund. The including the protection of biodiversity and saving land. In 2019, we Chubb Charitable Foundation addresses actionable problems and established new science-based greenhouse gas (GHG) emissions contributes to helping alleviate poverty, improve the health of at– reduction goals as well as adopted a new policy concerning coal- risk populations, provide access to quality education and protect the related underwriting and investment. From 2015 to 2018, Chubb has environment. In the last 10 years, the company has contributed reduced its absolute global GHG emissions by 21%. In 2018, the more than $100 million to the Foundation. company earned a score of B on the CDP’s climate change program ranking.

Chubb Rule of Law Fund Diversity & Inclusion

As a corporate citizen, Chubb recognizes the rule of law as the At Chubb, we recognize our responsibility to ensure opportunity foundation of a liberal world order that the company embraces as within our own organization, where we foster a diverse and essential to the proper functioning of markets and the protection of inclusive meritocracy. We can’t succeed unless we give everyone the personal freedoms. Through the Chubb Rule of Law Fund, a unique opportunity to thrive and advance in our company, and we hold our corporate initiative, we support projects around the world that leaders accountable for improving the advancement of women and promote the preservation and advancement of the rule of law. Since people of all races, nationalities and religions around the globe. The it was founded in 2008, the Fund has supported 45 projects in 50 company’s extensive efforts in this area include mentorships, countries focused on improving access to justice, strengthening affinity groups, diversity awareness training, management courts, fighting corruption and creating the conditions of security development programs, and mandating diverse slates in recruiting and freedom in which our customers, employees and fellow citizens and promotion. can thrive. For more information about Chubb’s Citizenship initiatives, please visit About Us on chubb.com.

18