Exhibit 99.2

Chubb Limited

Financial Supplement

for the Quarter Ended June 30, 2024

Investor Contact

Karen Beyer: (212) 827-4445

email: investorrelations@chubb.com

This report is for informational purposes only. It should be read in conjunction with documents filed by Chubb Limited with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this financial supplement reflect Chubb Limited’s current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties which may cause actual results to differ materially from such statements. For example, forward-looking statements related to financial performance, including exposures, reserves and recoverables, could be affected by the frequency and severity of unpredictable catastrophic events, actual loss experience, uncertainties in the reserving or settlement process, currency exchange fluctuations, new theories of liability, judicial, legislative, regulatory and other governmental developments, litigation tactics and developments, investigation developments and actual settlement terms, the amount and timing of reinsurance receivable and credit developments among reinsurers.

Our forward-looking statements could also be affected by, among other things, competition, pricing and policy term trends, market acceptance, changes in demand, actual market developments, rating agency action, possible terrorism or the outbreak and effects of war, and such other factors identified in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

   

Chubb Limited

Financial Supplement Table of Contents

		Page
I.	Financial Highlights
	- Consolidated Financial Highlights		1
II.	Consolidated Results
	- Consolidated Statement of Operations		2
	- P&C Results - Consecutive Quarters		3
	- Global P&C Results - Consecutive Quarters		4
	- Summary Consolidated Balance Sheets		5
	- Product Line		6
	- Consolidated Results by Segment		7 - 8
III.	Segment Results
	- North America Commercial P&C Insurance		9
	- North America Personal P&C Insurance		10
	- North America Agricultural Insurance		11
	- Overseas General Insurance		12
	- Global Reinsurance		13
	- Life Insurance		14
	- Corporate		15
IV.	Balance Sheet Details
	- Loss Reserve Rollforward		16
	- Reinsurance Recoverable Analysis		17
	- Investment Portfolio		18 - 21
	- Net Realized and Unrealized Gains (Losses)		22 - 23
	- Debt and Capital		24
	- Computation of Basic and Diluted Earnings Per Share		25
	- Book Value and Book Value per Common Share		26
V.	Other Disclosures
	- Non-GAAP Financial Measures		27 - 33
	- Glossary		34

Consolidation of Huatai Group Effective July 1, 2023

Effective July 1, 2023, the company increased its aggregate ownership interest in Huatai Group (Huatai), resulting in a majority controlling interest, and applied consolidation accounting beginning third quarter 2023.

In this financial supplement, business activity for, and the financial position of, Huatai is reported at 100%, as required, except for core operating income, net income, book value, tangible book value, ROE, per share data, and certain other key metrics, which include only the company’s ownership interest and exclude the non-controlling interest.

Chubb Limited

Consolidated Financial Highlights

(in millions of U.S. dollars, except share, per share data, and ratios)

(Unaudited)

Note: All dollar amounts in the Financial Supplement are rounded. However, percent changes and ratios are calculated using whole dollars. Accordingly, calculations using rounded dollars may differ.

	Three months ended June 30						Constant $		Constant $		Six months ended June 30						Constant $		Constant $
	2024		2023		% Change		2023		% Change		2024		2023		% Change		2023		% Change
Gross premiums written	$	16,491	$	14,880		10.8%	$	14,814		11.3%	$	30,916	$	27,884		10.9%	$	27,807		11.2%
Net premiums written	$	13,360	$	11,951		11.8%	$	11,893		12.3%	$	25,581	$	22,661		12.9%	$	22,590		13.2%
P&C net premiums written	$	11,780	$	10,681		10.3%	$	10,654		10.6%	$	22,368	$	20,098		11.3%	$	20,093		11.3%
Global P&C net premiums written	$	11,022	$	9,914		11.2%	$	9,887		11.5%	$	21,361	$	19,038		12.2%	$	19,033		12.2%
Life Insurance net premiums written	$	1,580	$	1,270		24.5%	$	1,239		27.6%	$	3,213	$	2,563		25.4%	$	2,497		28.7%
Net premiums earned	$	12,292	$	10,999		11.7%	$	10,942		12.3%	$	23,875	$	21,141		12.9%	$	21,057		13.4%
P&C underwriting income	$	1,418	$	1,425		-0.5%	$	1,410		0.6%	$	2,818	$	2,638		6.8%	$	2,626		7.3%
P&C CAY underwriting income ex Cats	$	1,806	$	1,625		11.1%	$	1,615		11.8%	$	3,434	$	3,100		10.7%	$	3,094		11.0%
Adjusted net investment income	$	1,563	$	1,241		25.9%	$	1,234		26.6%	$	3,045	$	2,441		24.7%	$	2,433		25.1%
Core operating income	$	2,196	$	2,044		7.5%	$	2,025		8.5%	$	4,412	$	3,886		13.5%	$	3,864		14.2%
Adjusted operating cash flow	$	3,566	$	2,515							$	7,190	$	4,766
Net investment income	$	1,468	$	1,145		28.2%	$	1,138		29.0%	$	2,859	$	2,252		27.0%	$	2,244		27.4%
Chubb net income	$	2,230	$	1,793		24.3%					$	4,373	$	3,685		18.7%
Operating cash flow	$	4,079	$	2,515							$	7,299	$	4,766
P&C combined ratio
Loss and loss expense ratio		60.6%		59.3%								59.4%		59.1%
Policy acquisition cost and administrative expense ratio		26.2%		26.1%								27.0%		26.7%
Combined ratio		86.8%		85.4%								86.4%		85.8%
P&C Current Accident Year (CAY) combined ratio ex Catastrophe losses (Cats)
CAY loss and loss expense ratio ex Cats		57.1%		57.4%								56.6%		56.7%
CAY policy acquisition cost and administrative expense ratio ex Cats		26.1%		25.9%								26.8%		26.7%
CAY combined ratio ex Cats		83.2%		83.3%								83.4%		83.4%
ROE		14.7%		13.6%								14.5%		14.3%
Core operating return on tangible equity (ROTE)		21.1%		21.0%								21.6%		20.2%
Core operating return on equity (ROE)		13.3%		13.8%								13.6%		13.2%
Effective tax rate		18.0%		17.9%								15.9%		17.4%
Core operating effective tax rate		18.8%		19.0%								17.0%		18.5%
Diluted earnings per share
Chubb net income	$	5.46	$	4.32		26.4%					$	10.68	$	8.84		20.8%
Core operating income	$	5.38	$	4.92		9.3%					$	10.78	$	9.32		15.7%
Weighted average basic common shares outstanding		404.6		412.5								405.1		413.4
Weighted average diluted common shares outstanding		408.6		415.6								409.3		416.8
					% Change				% Change
	June 30		March 31		2Q-24 vs.		December 31		2Q-24 vs.
	2024		2024		1Q-24		2023		4Q-23
Book value per common share	$	151.05	$	149.09		1.3%	$	146.83		2.9%
Tangible book value per common share	$	91.05	$	89.55		1.7%	$	87.98		3.5%
Book value per common share, excl. AOCI	$	171.60	$	167.28		2.6%	$	163.64		4.9%
Tangible book value per common share, excl. AOCI	$	109.08	$	105.75		3.1%	$	102.78		6.1%

Financial Highlights Page 1

Chubb Limited

Statement of Operations - Consecutive Quarters

(in millions of U.S. dollars)

(Unaudited)

Consolidated Statements of Operations	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			YTD 2024			YTD 2023			Full Year 2023
Gross premiums written	$	16,491		$	14,425		$	13,646		$	15,996		$	14,880		$	30,916		$	27,884		$	57,526
Net premiums written		13,360			12,221			11,596			13,104			11,951			25,581			22,661			47,361
Net premiums earned		12,292			11,583			11,897			12,674			10,999			23,875			21,141			45,712
Adjusted losses and loss expenses (1)		6,434			5,728			6,165			7,113			5,678			12,162			10,827			24,105
Realized (gains) losses on crop derivatives		3			1			2			7			(5	)		4			(4	)		5
Losses and loss expenses		6,431			5,727			6,163			7,106			5,683			12,158			10,831			24,100
Adjusted policy benefits (2)		1,123			1,170			1,052			957			842			2,293			1,664			3,673
Realized (gains) losses from investment portfolios supporting participating policies		(85	)		-			-			-			-			(85	)		-			-
(Gains) losses from fair value changes in separate account assets		(11	)		(10	)		(11	)		19			12			(21	)		37			45
Policy benefits		1,219			1,180			1,063			938			830			2,399			1,627			3,628
Policy acquisition costs		2,226			2,207			2,117			2,178			2,016			4,433			3,964			8,259
Administrative expenses		1,094			1,070			1,048			1,060			969			2,164			1,899			4,007
Adjusted net investment income (3)		1,563			1,482			1,487			1,415			1,241			3,045			2,441			5,343
Other (income) expense from private equity partnerships		(91	)		(86	)		(109	)		(92	)		(93	)		(177	)		(184	)		(385	)
Amortization expense of fair value adjustment on acquired invested assets		(4	)		(5	)		(7	)		(9	)		(3	)		(9	)		(5	)		(21	)
Net investment income		1,468			1,391			1,371			1,314			1,145			2,859			2,252			4,937
Adjusted realized gains (losses) (4)		22			(100	)		(121	)		(96	)		(309	)		(78	)		(385	)		(602	)
Realized gains (losses) from investment portfolios supporting participating policies		85			-			-			-			-			85			-			-
Realized gains (losses) on crop derivatives		(3	)		(1	)		(2	)		(7	)		5			(4	)		4			(5	)
Net realized gains (losses)		104			(101	)		(123	)		(103	)		(304	)		3			(381	)		(607	)
Market risk benefits gains (losses)		(29	)		21			(153	)		(32	)		(7	)		(8	)		(122	)		(307	)
Adjusted interest expense (5)		188			183			179			179			170			371			335			693
Amortization benefit of fair value adjustment on acquired long term debt		(6	)		(5	)		(6	)		(5	)		(5	)		(11	)		(10	)		(21	)
Interest expense		182			178			173			174			165			360			325			672
Gains (losses) from fair value changes in separate account assets		11			10			11			(19	)		(12	)		21			(37	)		(45	)
Net realized gains (losses) related to unconsolidated entities		7			101			143			59			(9	)		108			229			431
Other income (expense) from private equity partnerships		91			86			109			92			93			177			184			385
Other income (expense) - operating		1			(6	)		23			22			28			(5	)		20			65
Other income (expense)		110			191			286			154			100			301			396			836
Amortization expense of purchased intangibles		80			80			84			84			70			160			142			310
Cigna integration expenses		7			7			18			14			15			14			37			69
Income tax expense (benefit)		490			342			(678	)		413			392			832			776			511
Net income	$	2,216		$	2,294		$	3,290		$	2,040		$	1,793		$	4,510		$	3,685		$	9,015
Less: NCI income (loss)		(14	)		151			(10	)		(3	)		-			137			-			(13	)
Chubb net income	$	2,230		$	2,143		$	3,300		$	2,043		$	1,793		$	4,373		$	3,685		$	9,028

(1) Adjusted losses and loss expenses used throughout this report includes realized gains and losses on crop derivatives.

(2) Adjusted policy benefits used throughout this report includes gains and losses from fair value changes in separate account assets that do not qualify for separate account reporting under U.S. GAAP and realized gains and losses on underlying investments supporting the liabilities of certain participating policies related to the policyholders’ share of gains and losses.

(3) Adjusted net investment income used throughout this report excludes Amortization expense of fair value adjustment on acquired invested assets and includes income from private equity partnerships where we hold more than 3% ownership.

(4) Adjusted realized gains (losses) used throughout this report excludes realized gains and losses on crop derivatives and realized gains and losses on underlying investments supporting the liabilities of certain participating policies related to the policyholders’ share of gains and losses.

(5) Adjusted interest expense used throughout this report excludes Amortization benefit of fair value adjustment on acquired long term debt.

Statement of Operations Page 2

Chubb Limited

P&C Underwriting Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

Chubb Limited P&C Underwriting Results	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			YTD 2024			YTD 2023			Full Year 2023
P&C underwriting income
Gross premiums written	$	14,845		$	12,724		$	12,122		$	14,467		$	13,538		$	27,569		$	25,183		$	51,772
Net premiums written		11,780			10,588			10,146			11,652			10,681			22,368			20,098			41,896
Net premiums earned		10,724			9,972			10,461			11,232			9,743			20,696			18,621			40,314
Adjusted losses and loss expenses		6,412			5,696			6,138			7,093			5,643			12,108			10,760			23,991
Policy benefits		92			100			119			91			137			192			247			457
Policy acquisition costs		1,926			1,913			1,857			1,899			1,739			3,839			3,414			7,170
Administrative expenses		876			863			830			844			799			1,739			1,562			3,236
P&C underwriting income	$	1,418		$	1,400		$	1,517		$	1,305		$	1,425		$	2,818		$	2,638		$	5,460
P&C CAY underwriting income ex Cats	$	1,806		$	1,628		$	1,640		$	1,775		$	1,625		$	3,434		$	3,100		$	6,515
% Change versus prior year period
Net premiums written		10.3%			12.4%			12.5%			8.4%			9.8%			11.3%			9.6%			9.9%
Net premiums earned		10.1%			12.3%			11.8%			9.2%			8.1%			11.1%			8.2%			9.4%
Net premiums written constant $		10.6%			12.2%			11.3%			7.6%			10.4%			11.3%			10.7%			9.9%
Net premiums earned constant $		10.4%			12.2%			10.6%			8.1%			8.7%			11.3%			9.2%			9.3%
P&C combined ratio
Loss and loss expense ratio		60.6%			58.1%			59.8%			64.0%			59.3%			59.4%			59.1%			60.6%
Policy acquisition cost ratio		18.0%			19.2%			17.8%			16.9%			17.9%			18.6%			18.3%			17.8%
Administrative expense ratio		8.2%			8.7%			7.9%			7.5%			8.2%			8.4%			8.4%			8.1%
Combined ratio		86.8%			86.0%			85.5%			88.4%			85.4%			86.4%			85.8%			86.5%
CAY P&C combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		57.1%			56.1%			58.7%			60.1%			57.4%			56.6%			56.7%			58.2%
CAY policy acquisition cost and administrative expense ratio ex Cats		26.1%			27.6%			25.6%			24.2%			25.9%			26.8%			26.7%			25.7%
CAY combined ratio ex Cats		83.2%			83.7%			84.3%			84.3%			83.3%			83.4%			83.4%			83.9%
Other ratios
Net premiums written/gross premiums written		79%			83%			84%			81%			79%			81%			80%			81%
Expense ratio		26.2%			27.9%			25.7%			24.4%			26.1%			27.0%			26.7%			25.9%
Expense ratio excluding A&H		24.5%			26.1%			23.9%			22.6%			24.3%			25.3%			25.0%			24.0%
Catastrophe losses - pre-tax	$	580		$	435		$	300		$	670		$	400		$	1,015		$	858		$	1,828
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(192	)	$	(207	)	$	(177	)	$	(200	)	$	(200	)	$	(399	)	$	(396	)	$	(773	)
Impact of catastrophe losses on P&C combined ratio - Unfavorable		5.4%			4.4%			2.9%			6.0%			4.1%			4.9%			4.6%			4.5%
Impact of PPD on P&C combined ratio - Favorable		-1.8%			-2.1%			-1.7%			-1.9%			-2.0%			-1.9%			-2.2%			-1.9%
Impact of Cats and PPD on P&C combined ratio - Unfavorable		3.6%			2.3%			1.2%			4.1%			2.1%			3.0%			2.4%			2.6%

P&C Results Page 3

Chubb Limited

Global P&C Underwriting Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

Global P&C	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			YTD 2024			YTD 2023			Full Year 2023
Global P&C underwriting income
Gross premiums written	$	13,734		$	12,296		$	11,614		$	12,063		$	12,449		$	26,030		$	23,689		$	47,366
Net premiums written		11,022			10,339			9,539			10,131			9,914			21,361			19,038			38,708
Net premiums earned		10,098			9,844			9,626			9,692			9,108			19,942			17,827			37,145
Adjusted losses and loss expenses		5,869			5,647			5,267			5,737			5,136			11,516			10,113			21,117
Policy benefits		92			100			119			91			137			192			247			457
Policy acquisition costs		1,881			1,892			1,835			1,823			1,702			3,773			3,362			7,020
Administrative expenses		873			861			840			841			796			1,734			1,556			3,237
Global P&C underwriting income	$	1,383		$	1,344		$	1,565		$	1,200		$	1,337		$	2,727		$	2,549		$	5,314
Global P&C CAY underwriting income ex Cats	$	1,738		$	1,597		$	1,692		$	1,661		$	1,545		$	3,335		$	2,995		$	6,348
% Change versus prior year period
Net premiums written		11.2%			13.3%			10.5%			12.3%			10.2%			12.2%			8.5%			10.0%
Net premiums earned		10.9%			12.9%			10.2%			12.5%			7.9%			11.9%			7.0%			9.2%
Net premiums written constant $		11.5%			13.0%			9.2%			11.2%			10.9%			12.2%			9.7%			10.0%
Net premiums earned constant $		11.2%			12.8%			8.9%			11.2%			8.6%			12.0%			8.0%			9.1%
Combined ratio
Loss and loss expense ratio		59.0%			58.4%			56.0%			60.1%			57.9%			58.7%			58.1%			58.1%
Policy acquisition cost ratio		18.6%			19.2%			19.0%			18.8%			18.7%			18.9%			18.9%			18.9%
Administrative expense ratio		8.7%			8.7%			8.7%			8.7%			8.7%			8.7%			8.7%			8.7%
Combined ratio		86.3%			86.3%			83.7%			87.6%			85.3%			86.3%			85.7%			85.7%
CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		55.5%			55.9%			54.7%			55.7%			55.8%			55.7%			55.7%			55.5%
CAY policy acquisition cost and administrative expense ratio ex Cats		27.3%			27.9%			27.7%			27.3%			27.3%			27.6%			27.5%			27.5%
CAY combined ratio ex Cats		82.8%			83.8%			82.4%			83.0%			83.1%			83.3%			83.2%			83.0%
Other ratios
Net premiums written/gross premiums written		80%			84%			82%			84%			80%			82%			80%			82%
Expense ratio		27.3%			27.9%			27.7%			27.5%			27.4%			27.6%			27.6%			27.6%
Expense ratio excluding A&H		25.7%			26.2%			26.1%			25.6%			25.7%			26.0%			25.8%			25.8%
Catastrophe losses - pre-tax	$	547		$	432		$	298		$	652		$	405		$	979		$	839		$	1,789
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(192	)	$	(179	)	$	(171	)	$	(191	)	$	(197	)	$	(371	)	$	(393	)	$	(755	)
Impact of catastrophe losses on combined ratio - Unfavorable		5.4%			4.3%			3.0%			6.7%			4.4%			4.9%			4.7%			4.8%
Impact of PPD on combined ratio - Favorable		-1.9%			-1.8%			-1.8%			-2.1%			-2.2%			-1.9%			-2.2%			-2.1%
Impact of Cats and PPD on combined ratio - Unfavorable		3.5%			2.5%			1.2%			4.6%			2.2%			3.0%			2.5%			2.7%

Global P&C Page 4

Chubb Limited

Summary Consolidated Balance Sheets

(in millions of U.S. dollars, except per share data)

(Unaudited)

	June 30 2024			March 31 2024			December 31 2023
Assets
Short-term investments, at fair value	$	4,546		$	5,107		$	4,551
Fixed maturities available for sale, at fair value		107,840			108,289			106,571
Private debt held-for-investment, at amortized cost		2,680			2,708			2,553
Equity securities, at fair value		3,792			3,769			3,455
Private equities		14,365			14,281			14,078
Other investments		7,513			6,216			5,527
Total investments		140,736			140,370			136,735
Cash and restricted cash		2,568			2,651			2,621
Securities lending collateral		1,889			1,708			1,299
Insurance and reinsurance balances receivable		15,929			13,991			13,379
Reinsurance recoverable on losses and loss expenses		19,355			19,109			19,952
Deferred policy acquisition costs		7,812			7,537			7,152
Value of business acquired (VOBA)		3,434			3,617			3,674
Prepaid reinsurance premiums		3,747			3,241			3,221
Goodwill and other intangible assets ($25,709 represents Chubb portion as of 06/30/2024)		26,452			26,405			26,461
Deferred tax assets		1,690			1,761			1,741
Separate account assets		5,834			5,864			5,573
Other assets		9,105			8,613			8,874
Total assets	$	238,551		$	234,867		$	230,682
Liabilities
Unpaid losses and loss expenses	$	82,191		$	80,341		$	80,122
Unearned premiums		24,102			22,728			22,051
Future policy benefits		14,663			14,375			13,888
Market risk benefits		576			611			771
Policyholder account balances		7,787			7,560			7,462
Separate account liabilities		5,834			5,864			5,573
Insurance and reinsurance balances payable		9,126			8,505			8,302
Securities lending payable		1,889			1,708			1,299
Accounts payable, accrued expenses, and other liabilities		11,196			11,379			11,165
Deferred tax liabilities		1,572			1,543			1,555
Short-term and long-term debt		14,731			15,513			14,495
Trust preferred securities		309			309			308
Total liabilities		173,976			170,436			166,991
Shareholders’ equity
Chubb shareholders’ equity, excl. AOCI		69,342			67,921			66,316
Accumulated other comprehensive income (loss) (AOCI)		(8,304	)		(7,386	)		(6,809	)
Chubb shareholders’ equity		61,038			60,535			59,507
Noncontrolling interests		3,537			3,896			4,184
Total shareholders’ equity		64,575			64,431			63,691
Total liabilities and shareholders’ equity	$	238,551		$	234,867		$	230,682
Book value per common share	$	151.05		$	149.09		$	146.83
% change over prior quarter		1.3%			1.5%			14.4%
Tangible book value per common share (1)	$	91.05		$	89.55		$	87.98
% change over prior quarter		1.7%			1.8%			24.1%
Book value per common share, excl. AOCI	$	171.60		$	167.28		$	163.64
% change over prior quarter		2.6%			2.2%			4.5%
Tangible book value per common share, excl. AOCI	$	109.08		$	105.75		$	102.78
% change over prior quarter		3.1%			2.9%			6.1%

(1) Refer to page 26 in this financial supplement for more details.

Consol Bal Sheet Page 5

Chubb Limited

Consolidated Net Premiums Written by Product Line

(in millions of U.S. dollars)

(Unaudited)

							Constant $	YTD		YTD				Constant $
	2Q-24		2Q-23		% Change		% Change	2024		2023		% Change		% Change
Net premiums written
Property and other short-tail lines	$	2,715	$	2,346		15.7%	16.2%	$	5,075	$	4,371		16.1%		16.3%
Commercial casualty		2,155		2,024		6.5%	6.6%		4,365		3,927		11.2%		11.1%
Financial lines		1,237		1,244		-0.6%	-0.5%		2,345		2,400		-2.3%		-2.4%
Workers’ compensation		559		537		4.1%	4.1%		1,188		1,155		2.9%		2.9%
Commercial multiple peril (1)		428		391		9.7%	9.7%		796		731		8.9%		8.9%
Surety		200		174		14.6%	13.8%		384		334		14.9%		13.4%
Total Commercial P&C lines		7,294		6,716		8.6%	8.8%		14,153		12,918		9.6%		9.5%
Agriculture		758		767		-1.2%	-1.2%		1,007		1,060		-5.0%		-5.0%
Personal homeowners		1,355		1,174		15.4%	15.9%		2,420		2,076		16.6%		17.0%
Personal automobile		614		460		33.4%	29.9%		1,256		887		41.6%		36.9%
Personal other		520		485		7.3%	8.6%		1,085		992		9.4%		10.2%
Total Personal lines		2,489		2,119		17.5%	17.4%		4,761		3,955		20.4%		19.9%
Global A&H - P&C		828		786		5.2%	7.8%		1,677		1,595		5.1%		6.8%
Reinsurance lines		411		293		40.3%	40.5%		770		570		35.1%		35.2%
Total P&C	$	11,780	$	10,681		10.3%	10.6%	$	22,368	$	20,098		11.3%		11.3%
Life Insurance		1,580		1,270		24.5%	27.6%		3,213		2,563		25.4%		28.7%
Total Consolidated	$	13,360	$	11,951		11.8%	12.3%	$	25,581	$	22,661		12.9%		13.2%

(1) Commercial multiple peril represents retail package business (property and general liability).

Product Line Page 6

Chubb Limited

Consolidated Results

(in millions of U.S. dollars, except ratios)

(Unaudited)

		Three months ended June 30, 2024
	North America Commercial P&C			North America Personal P&C			North America Agricultural		Overseas General		Global				Total		Life		Total
Q2 2024		Insurance			Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written		$	5,501		$	1,776	$	758	$	3,334	$	411	$	-	$	11,780	$	1,580	$	13,360
% of total net premiums written			41%			13%		6%		25%		3%		-		88%		12%		100%
Net premiums earned			4,900			1,512		626		3,347		339		-		10,724		1,568		12,292
Adjusted losses and loss expenses			3,074			876		543		1,671		155		93		6,412		22		6,434
Adjusted policy benefits			-			-		-		92		-		-		92		1,031		1,123
Policy acquisition costs			660			299		45		842		80		-		1,926		300		2,226
Administrative expenses			327			88		3		348		11		99		876		218		1,094
Underwriting income (loss)			839			249		35		394		93		(192)		1,418		(3)		1,415
Adjusted net investment income			863			108		21		283		58		(28)		1,305		258		1,563
Other income (expense) - operating			(15)			2		-		(4)		-		(14)		(31)		32		1
Amortization expense of purchased intangibles			-			(2)		(7)		(20)		-		(40)		(69)		(11)		(80)
Segment income (loss)		$	1,687		$	357	$	49	$	653	$	151	$	(274)	$	2,623	$	276	$	2,899
Combined ratio			82.9%			83.5%		94.4%		88.2%		72.7%				86.8%
CAY combined ratio ex Cats			80.7%			78.6%		89.1%		85.3%		77.4%				83.2%
		Three months ended June 30, 2023
	North America Commercial P&C			North America Personal P&C			North America Agricultural		Overseas General		Global				Total		Life		Total
Q2 2023		Insurance			Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written		$	5,155		$	1,581	$	767	$	2,885	$	293	$	-	$	10,681	$	1,270	$	11,951
% of total net premiums written			44%			13%		6%		24%		2%		-		89%		11%		100%
Net premiums earned			4,606			1,357		635		2,908		237		-		9,743		1,256		10,999
Adjusted losses and loss expenses			2,871			846		507		1,267		91		61		5,643		35		5,678
Adjusted policy benefits			-			-		-		137		-		-		137		705		842
Policy acquisition costs			614			277		37		746		65		-		1,739		277		2,016
Administrative expenses			316			84		3		292		9		95		799		170		969
Underwriting income (loss)			805			150		88		466		72		(156)		1,425		69		1,494
Adjusted net investment income			726			86		14		200		48		6		1,080		161		1,241
Other income (expense)-operating			(5)			1		1		10		-		(5)		2		26		28
Amortization expense of purchased intangibles			-			(3)		(7)		(15)		-		(43)		(68)		(2)		(70)
Segment income (loss)		$	1,526		$	234	$	96	$	661	$	120	$	(198)	$	2,439	$	254	$	2,693
Combined ratio			82.5%			88.9%		86.2%		84.0%		69.6%				85.4%
CAY combined ratio ex Cats			80.7%			80.5%		87.4%		85.2%		76.8%				83.3%

Consol Results - QTD Page 7

Chubb Limited

Consolidated Results

(in millions of U.S. dollars, except ratios)

(Unaudited)

		Six months ended June 30, 2024
	North America Commercial P&C			North America Personal P&C			North America Agricultural		Overseas General		Global				Total		Life		Total
YTD 2024		Insurance			Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written		$	10,190		$	3,232	$	1,007	$	7,169	$	770	$	-	$	22,368	$	3,213	$	25,581
% of total net premiums written			39%			13%		4%		28%		3%		-		87%		13%		100%
Net premiums earned			9,780			2,983		754		6,545		634		-		20,696		3,179		23,875
Adjusted losses and loss expenses			6,249			1,775		592		3,097		292		103		12,108		54		12,162
Adjusted policy benefits			-			-		-		192		-		-		192		2,101		2,293
Policy acquisition costs			1,348			599		66		1,665		161		-		3,839		594		4,433
Administrative expenses			655			174		5		679		20		206		1,739		425		2,164
Underwriting income (loss)			1,528			435		91		912		161		(309)		2,818		5		2,823
Adjusted net investment income			1,689			210		42		550		115		(49)		2,557		488		3,045
Other income (expense) - operating			(22)			1		-		(9)		-		(47)		(77)		72		(5)
Amortization expense of purchased intangibles			-			(4)		(13)		(40)		-		(82)		(139)		(21)		(160)
Segment income (loss)		$	3,195		$	642	$	120	$	1,413	$	276	$	(487)	$	5,159	$	544	$	5,703
Combined ratio			84.4%			85.4%		87.9%		86.1%		74.6%				86.4%
CAY combined ratio ex Cats			81.4%			79.0%		87.5%		85.6%		77.0%				83.4%
	Six months ended June 30, 2023
	North America Commercial P&C			North America Personal P&C			North America Agricultural		Overseas General		Global				Total		Life		Total
YTD 2023		Insurance			Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written		$	9,443		$	2,877	$	1,060	$	6,148	$	570	$	-	$	20,098	$	2,563	$	22,661
% of total net premiums written			41%			13%		5%		27%		3%		-		89%		11%		100%
Net premiums earned			8,975			2,677		794		5,694		481		-		18,621		2,520		21,141
Adjusted losses and loss expenses			5,600			1,734		647		2,504		203		72		10,760		67		10,827
Adjusted policy benefits			-			-		-		247		-		-		247		1,417		1,664
Policy acquisition costs			1,227			549		52		1,459		127		-		3,414		550		3,964
Administrative expenses			611			163		6		572		18		192		1,562		337		1,899
Underwriting income (loss)			1,537			231		89		912		133		(264)		2,638		149		2,787
Adjusted net investment income			1,424			168		31		388		97		19		2,127		314		2,441
Other income (expense) - operating			(12)			-		-		19		1		(29)		(21)		41		20
Amortization expense of purchased intangibles			-			(5)		(13)		(33)		-		(85)		(136)		(6)		(142)
Segment income (loss)		$	2,949		$	394	$	107	$	1,286	$	231	$	(359)	$	4,608	$	498	$	5,106
Combined ratio			82.9%			91.4%		88.8%		84.0%		72.4%				85.8%
CAY combined ratio ex Cats			80.9%			80.5%		86.7%		85.1%		77.6%				83.4%

Consol Results - YTD Page 8

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

North America Commercial P&C Insurance

																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Gross premiums written	$	6,915		$	5,431		$	5,752		$	6,131		$	6,611		$	12,346		$	11,927		$	23,810
Net premiums written		5,501			4,689			4,662			5,132			5,155			10,190			9,443			19,237
Net premiums earned		4,900			4,880			4,706			4,735			4,606			9,780			8,975			18,416
Losses and loss expenses		3,074			3,175			2,631			3,025			2,871			6,249			5,600			11,256
Policy acquisition costs		660			688			648			640			614			1,348			1,227			2,515
Administrative expenses		327			328			316			323			316			655			611			1,250
Underwriting income		839			689			1,111			747			805			1,528			1,537			3,395
Adjusted net investment income		863			826			813			780			726			1,689			1,424			3,017
Other income (expense) - operating		(15	)		(7	)		(4	)		(6	)		(5	)		(22	)		(12	)		(22	)
Segment income	$	1,687		$	1,508		$	1,920		$	1,521		$	1,526		$	3,195		$	2,949		$	6,390
CAY underwriting income ex Cats	$	947		$	877		$	990		$	909		$	890		$	1,824		$	1,712		$	3,611
Combined ratio
Loss and loss expense ratio		62.7%			65.1%			55.9%			63.9%			62.3%			63.9%			62.4%			61.1%
Policy acquisition cost ratio		13.5%			14.1%			13.8%			13.5%			13.3%			13.8%			13.7%			13.7%
Administrative expense ratio		6.7%			6.7%			6.7%			6.8%			6.9%			6.7%			6.8%			6.8%
Combined ratio		82.9%			85.9%			76.4%			84.2%			82.5%			84.4%			82.9%			81.6%
CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		60.6%			61.4%			58.6%			61.1%			60.7%			61.0%			60.6%			60.2%
CAY policy acquisition cost and administrative expense ratio ex Cats		20.1%			20.6%			20.4%			20.0%			20.0%			20.4%			20.3%			20.3%
CAY combined ratio ex Cats		80.7%			82.0%			79.0%			81.1%			80.7%			81.4%			80.9%			80.5%
Catastrophe losses - pre-tax	$	252		$	236		$	71		$	246		$	231		$	488		$	393		$	710
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(144	)	$	(48	)	$	(192	)	$	(84	)	$	(146	)	$	(192	)	$	(218	)	$	(494	)
% Change versus prior year period
Net premiums written		6.7%			9.4%			4.4%			8.7%			10.5%			7.9%			8.5%			7.5%
Net premiums earned		6.4%			11.7%			5.5%			10.6%			8.4%			9.0%			7.3%			7.7%
Other ratios
Net premiums written/gross premiums written		80%			86%			81%			84%			78%			83%			79%			81%
Production by Size - Net premiums written (1)
Major Accounts & Specialty	$	3,524		$	2,779		$	2,788		$	3,075		$	3,307		$	6,303		$	5,790		$	11,653
Commercial		1,977			1,910			1,874			2,057			1,848			3,887			3,653			7,584
Total	$	5,501		$	4,689		$	4,662		$	5,132		$	5,155		$	10,190		$	9,443		$	19,237

(1) Major Accounts & Specialty: large corporate accounts and wholesale business. Commercial: principally middle market and small commercial accounts.

NA Commercial Page 9

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

North America Personal P&C Insurance

																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Gross premiums written	$	2,029		$	1,679		$	1,695		$	1,750		$	1,811		$	3,708		$	3,294		$	6,739
Net premiums written		1,776			1,456			1,474			1,527			1,581			3,232			2,877			5,878
Net premiums earned		1,512			1,471			1,452			1,407			1,357			2,983			2,677			5,536
Losses and loss expenses		876			899			877			900			846			1,775			1,734			3,511
Policy acquisition costs		299			300			292			287			277			599			549			1,128
Administrative expenses		88			86			82			84			84			174			163			329
Underwriting income		249			186			201			136			150			435			231			568
Net investment income		108			102			96			94			86			210			168			358
Other income (expense) - operating		2			(1	)		(1	)		(2	)		1			1			-			(3	)
Amortization expense of purchased intangibles		(2	)		(2	)		(1	)		(3	)		(3	)		(4	)		(5	)		(9	)
Segment income	$	357		$	285		$	295		$	225		$	234		$	642		$	394		$	914
CAY underwriting income ex Cats	$	323		$	304		$	285		$	297		$	264		$	627		$	521		$	1,103
Combined ratio
Loss and loss expense ratio		57.9%			61.1%			60.4%			63.9%			62.4%			59.5%			64.8%			63.4%
Policy acquisition cost ratio		19.8%			20.4%			20.1%			20.4%			20.4%			20.1%			20.5%			20.4%
Administrative expense ratio		5.8%			5.9%			5.7%			6.0%			6.1%			5.8%			6.1%			5.9%
Combined ratio		83.5%			87.4%			86.2%			90.3%			88.9%			85.4%			91.4%			89.7%
CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		53.0%			53.1%			54.7%			52.4%			54.0%			53.1%			53.9%			53.8%
CAY policy acquisition cost and administrative expense ratio ex Cats		25.6%			26.2%			25.7%			26.5%			26.5%			25.9%			26.6%			26.3%
CAY combined ratio ex Cats		78.6%			79.3%			80.4%			78.9%			80.5%			79.0%			80.5%			80.1%
Catastrophe losses - pre-tax	$	138		$	170		$	83		$	280		$	147		$	308		$	306		$	669
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(64	)	$	(52	)	$	1		$	(119	)	$	(33	)	$	(116	)	$	(16	)	$	(134	)
% Change versus prior year period
Net premiums written		12.3%			12.3%			12.1%			9.6%			10.8%			12.3%			10.4%			10.6%
Net premiums earned		11.5%			11.4%			9.4%			5.5%			6.7%			11.5%			6.3%			6.9%
Other ratios
Net premiums written/gross premiums written		87%			87%			87%			87%			87%			87%			87%			87%

NA Personal Page 10

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

North America Agricultural Insurance

																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Gross premiums written	$	1,111		$	428		$	508		$	2,404		$	1,089		$	1,539		$	1,494		$	4,406
Net premiums written		758			249			607			1,521			767			1,007			1,060			3,188
Net premiums earned		626			128			835			1,540			635			754			794			3,169
Adjusted losses and loss expenses		543			49			871			1,356			507			592			647			2,874
Policy acquisition costs		45			21			22			76			37			66			52			150
Administrative expenses		3			2			(10	)		3			3			5			6			(1	)
Underwriting income (loss)		35			56			(48	)		105			88			91			89			146
Net investment income		21			21			20			12			14			42			31			63
Other income (expense) - operating		-			-			(1	)		-			1			-			-			(1	)
Amortization expense of purchased intangibles		(7	)		(6	)		(6	)		(6	)		(7	)		(13	)		(13	)		(25	)
Segment income (loss)	$	49		$	71		$	(35	)	$	111		$	96		$	120		$	107		$	183
CAY underwriting income (loss) ex Cats	$	68		$	31		$	(52	)	$	114		$	80		$	99		$	105		$	167
Combined ratio
Loss and loss expense ratio		86.8%			38.6%			104.4%			88.1%			79.7%			78.6%			81.5%			90.7%
Policy acquisition cost ratio		7.1%			16.8%			2.7%			4.9%			5.9%			8.7%			6.6%			4.7%
Administrative expense ratio		0.5%			1.2%			-1.3%			0.2%			0.6%			0.6%			0.7%			0.0%
Combined ratio		94.4%			56.6%			105.8%			93.2%			86.2%			87.9%			88.8%			95.4%
CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		81.5%			69.5%			104.7%			87.5%			80.9%			79.0%			79.4%			90.1%
CAY policy acquisition cost and administrative expense ratio ex Cats		7.6%			12.1%			1.4%			5.2%			6.5%			8.5%			7.3%			4.6%
CAY combined ratio ex Cats		89.1%			81.6%			106.1%			92.7%			87.4%			87.5%			86.7%			94.7%
Unfavorable (favorable) Catastrophe losses - pre-tax	$	33		$	3		$	2		$	18		$	(5	)	$	36		$	19		$	39
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	-		$	(28	)	$	(6	)	$	(9	)	$	(3	)	$	(28	)	$	(3	)	$	(18	)
% Change versus prior year period
Net premiums written		-1.2%			-15.0%			58.2%			-11.7%			4.0%			-5.0%			32.5%			9.7%
Net premiums earned		-1.5%			-19.4%			34.4%			-8.0%			11.0%			-5.1%			46.0%			11.7%
Other ratios
Net premiums written/gross premiums written		68%			58%			119%			63%			70%			65%			71%			72%

NA Agriculture Page 11

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

Overseas General Insurance

																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Gross premiums written	$	4,262		$	4,775		$	3,961		$	3,897		$	3,677		$	9,037		$	7,808		$	15,666
Net premiums written		3,334			3,835			3,216			3,211			2,885			7,169			6,148			12,575
Net premiums earned		3,347			3,198			3,226			3,311			2,908			6,545			5,694			12,231
Losses and loss expenses		1,671			1,426			1,504			1,635			1,267			3,097			2,504			5,643
Policy benefits		92			100			119			91			137			192			247			457
Policy acquisition costs		842			823			827			827			746			1,665			1,459			3,113
Administrative expenses		348			331			320			327			292			679			572			1,219
Underwriting income		394			518			456			431			466			912			912			1,799
Adjusted net investment income		283			267			259			248			200			550			388			895
Other income (expense) - operating		(4	)		(5	)		(4	)		10			10			(9	)		19			25
Amortization expense of purchased intangibles		(20	)		(20	)		(18	)		(19	)		(15	)		(40	)		(33	)		(70	)
Segment income	$	653		$	760		$	693		$	670		$	661		$	1,413		$	1,286		$	2,649
CAY underwriting income ex Cats	$	490		$	455		$	477		$	502		$	431		$	945		$	847		$	1,826
Combined ratio
Loss and loss expense ratio		52.7%			47.7%			50.3%			52.1%			48.3%			50.3%			48.3%			49.9%
Policy acquisition cost ratio		25.1%			25.7%			25.6%			25.0%			25.7%			25.4%			25.6%			25.4%
Administrative expense ratio		10.4%			10.4%			10.0%			9.9%			10.0%			10.4%			10.1%			10.0%
Combined ratio		88.2%			83.8%			85.9%			87.0%			84.0%			86.1%			84.0%			85.3%
CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		49.8%			49.7%			49.7%			50.0%			49.5%			49.7%			49.5%			49.7%
CAY policy acquisition cost and administrative expense ratio ex Cats		35.5%			36.1%			35.5%			34.8%			35.7%			35.9%			35.6%			35.4%
CAY combined ratio ex Cats		85.3%			85.8%			85.2%			84.8%			85.2%			85.6%			85.1%			85.1%
Catastrophe losses - pre-tax	$	157		$	26		$	144		$	120		$	26		$	183		$	139		$	403
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(61	)	$	(89	)	$	(123	)	$	(49	)	$	(61	)	$	(150	)	$	(204	)	$	(376	)
% Change versus prior year period
Net premiums written		15.6%			17.5%			19.3%			21.4%			9.3%			16.6%			7.5%			13.7%
Net premiums written - Commercial		13.3%			12.2%			13.2%			17.0%			9.2%			12.7%			7.6%			11.2%
Net premiums written - Consumer		19.1%			27.1%			29.5%			28.4%			9.3%			23.1%			7.4%			17.8%
Net premiums earned		15.1%			14.8%			17.8%			20.8%			7.9%			14.9%			7.0%			13.2%
Net premiums written constant $		16.6%			16.7%			15.0%			17.3%			10.9%			16.6%			10.4%			13.3%
Net premiums written - Commercial		13.9%			11.4%			10.1%			14.6%			11.9%			12.5%			11.3%			11.8%
Net premiums written - Consumer		20.7%			26.2%			23.2%			21.4%			9.5%			23.5%			9.0%			15.7%
Net premiums earned constant $		16.2%			14.4%			13.5%			16.1%			9.2%			15.3%			9.5%			12.3%
Other ratios: Net premiums written/gross premiums written		78%			80%			81%			82%			78%			79%			79%			80%
										Constant $			YTD			YTD						Constant $
Production by Region - Net premiums written	2Q-24			2Q-23			% Change			% Change			2024			2023			% Change			% Change
Europe, Middle East and Africa	$	1,409		$	1,307			7.8%			7.5%		$	3,278		$	3,028			8.3%			7.1%
Latin America		697			613			13.7%			11.9%			1,474			1,274			15.7%			12.5%
Asia		1,177			931			26.5%			31.7%			2,338			1,792			30.4%			35.7%
Other (1)		51			34			51.3%			51.7%			79			54			48.1%			48.4%
Total	$	3,334		$	2,885			15.6%			16.6%		$	7,169		$	6,148			16.6%			16.6%

(1) Includes the company’s international supplemental A&H business of Combined Insurance and other international operations.

Overseas General Insurance Page 12

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

Global Reinsurance

														YTD			YTD			Full Year
	2Q-24			1Q-24		4Q-23			3Q-23		2Q-23			2024			2023			2023
Gross premiums written	$	528		$	411	$	206		$	285	$	350		$	939		$	660		$	1,151
Net premiums written		411			359		187			261		293			770			570			1,018
Net premiums earned		339			295		242			239		237			634			481			962
Losses and loss expenses		155			137		107			116		91			292			203			426
Policy acquisition costs		80			81		68			69		65			161			127			264
Administrative expenses		11			9		10			9		9			20			18			37
Underwriting income		93			68		57			45		72			161			133			235
Adjusted net investment income		58			57		64			47		48			115			97			208
Other income (expense) - operating		-			-		1			-		-			-			1			2
Segment income	$	151		$	125	$	122		$	92	$	120		$	276		$	231		$	445
CAY underwriting income ex Cats	$	77		$	69	$	54		$	51	$	56		$	146		$	109		$	214
Combined ratio
Loss and loss expense ratio		45.7%			46.3%		44.1%			48.4%		38.7%			46.0%			42.3%			44.3%
Policy acquisition cost ratio		23.8%			27.5%		28.1%			29.1%		27.0%			25.5%			26.3%			27.4%
Administrative expense ratio		3.2%			3.1%		3.9%			3.8%		3.9%			3.1%			3.8%			3.8%
Combined ratio		72.7%			76.9%		76.1%			81.3%		69.6%			74.6%			72.4%			75.5%
CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		50.4%			46.0%		45.7%			45.9%		46.7%			48.3%			47.8%			46.8%
CAY policy acquisition cost and administrative expense ratio ex Cats		27.0%			30.5%		31.9%			32.9%		30.1%			28.7%			29.8%			31.1%
CAY combined ratio ex Cats		77.4%			76.5%		77.6%			78.8%		76.8%			77.0%			77.6%			77.9%
Catastrophe losses - pre-tax	$	-		$	-	$	-		$	6	$	1		$	-		$	1		$	7
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(16	)	$	1	$	(3	)	$	-	$	(17	)	$	(15	)	$	(25	)	$	(28	)
% Change versus prior year period
Net premiums written as reported (1)		40.3%			29.7%		15.1%			-1.4%		11.6%			35.1%			10.6%			8.0%
Net premiums earned as reported		43.4%			20.8%		15.5%			-6.5%		6.7%			31.9%			5.3%			4.3%
Net premiums written constant $		40.5%			29.7%		14.3%			-1.8%		12.4%			35.2%			11.4%			8.2%
Net premiums earned constant $		43.6%			20.8%		14.2%			-7.1%		7.0%			32.0%			6.0%			4.2%
Other ratios
Net premiums written/gross premiums written		78%			87%		91%			91%		84%			82%			86%			88%

(1) Q2 2024 and YTD 2024 includes the favorable impact of $37 million reflecting a large structured transaction in the current quarter which added 12.5 percentage points and 6.5 percentage points to growth, respectively.

Global Reinsurance Page 13

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars)

(Unaudited)

Life Insurance																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Gross premiums written	$	1,646		$	1,701		$	1,524		$	1,529		$	1,342		$	3,347		$	2,701		$	5,754
Net premiums written		1,580			1,633			1,450			1,452			1,270			3,213			2,563			5,465
Net premiums earned		1,568			1,611			1,436			1,442			1,256			3,179			2,520			5,398
Losses and loss expenses		22			32			27			20			35			54			67			114
Adjusted policy benefits		1,031			1,070			933			866			705			2,101			1,417			3,216
Policy acquisition costs		300			294			260			279			277			594			550			1,089
Administrative expenses		218			207			218			216			170			425			337			771
Adjusted net investment income		258			230			231			211			161			488			314			756
Other income (expense) - operating (1)		32			40			46			28			26			72			41			115
Amortization expense of purchased intangibles		(11	)		(10	)		(12	)		(12	)		(2	)		(21	)		(6	)		(30	)
Segment income	$	276		$	268		$	263		$	288		$	254		$	544		$	498		$	1,049
% Change versus prior year period
Net premiums written		24.5%			26.3%			20.3%			14.9%			126.1%			25.4%			125.3%			51.5%
Net premiums earned		24.7%			27.5%			21.2%			15.9%			132.9%			26.1%			133.0%			53.8%
Net premiums written constant $		27.6%			29.7%			17.2%			15.2%			127.6%			28.7%			128.1%			50.9%
Net premiums earned constant $		27.7%			31.2%			18.2%			16.2%			134.5%			29.4%			135.8%			53.2%
International life insurance net premiums written and deposits breakdown (excludes Combined North America and Life reinsurance businesses):
										Constant $			YTD			YTD						Constant $
	2Q-24			2Q-23			% Change			% Change			2024			2023			% Change			% Change
International life insurance net premiums written	$	1,315		$	1,029			27.8%			31.7%		$	2,689		$	2,074			29.6%			33.8%
International life insurance deposits (2)		547			400			36.8%			42.5%			1,147			709			61.8%			67.5%
Total international life insurance net premiums written and deposits	$	1,862		$	1,429			30.3%			34.7%		$	3,836		$	2,783			37.8%			42.4%
International life insurance segment income	$	232		$	207			12.0%			15.3%		$	457		$	405			12.8%			16.3%

(1) Includes non-premium revenue and expenses unrelated to our core insurance operations from the management of third-party assets by Huatai’s asset management businesses.

(2) Includes deposits collected on universal life and investment contracts. Consistent with U.S. GAAP, premiums collected on universal life and investment contracts are considered deposits and excluded from revenues.

Life Insurance Page 14

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars)

(Unaudited)

Corporate																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Adjusted loss and loss expenses	$	93		$	10		$	148		$	61		$	61		$	103		$	72		$	281
Administrative expenses		99			107			112			98			95			206			192			402
Underwriting loss		(192	)		(117	)		(260	)		(159	)		(156	)		(309	)		(264	)		(683	)
Adjusted net investment income		(28	)		(21	)		4			23			6			(49	)		19			46
Other income (expense) - operating		(14	)		(33	)		(14	)		(8	)		(5	)		(47	)		(29	)		(51	)
Adjusted interest expense		(188	)		(183	)		(179	)		(179	)		(170	)		(371	)		(335	)		(693	)
Amortization expense of purchased intangibles		(40	)		(42	)		(47	)		(44	)		(43	)		(82	)		(85	)		(176	)
Cigna integration expenses		(7	)		(7	)		(18	)		(14	)		(15	)		(14	)		(37	)		(69	)
Amortization of fair value adjustment of acquired invested assets and long-term debt		2			-			(1	)		(4	)		2			2			5			-
Adjusted net realized gains (losses)		29			1			22			(37	)		(318	)		30			(156	)		(171	)
Market risk benefits gains (losses)		(29	)		21			(153	)		(32	)		(7	)		(8	)		(122	)		(307	)
Income tax (expense) benefit		(490	)		(342	)		678			(413	)		(392	)		(832	)		(776	)		(511	)
Less: NCI income (loss)		(14	)		151			(10	)		(3	)		-			137			-			(13	)
Net (loss) benefit	$	(943	)	$	(874	)	$	42		$	(864	)	$	(1,098	)	$	(1,817)		$	(1,780	)	$	(2,602	)
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	93		$	9		$	146		$	61		$	60		$	102		$	70		$	277

Corporate Page 15

Chubb Limited

Loss Reserve Rollforward

(in millions of U.S. dollars, except ratios)

(Unaudited)

	Unpaid Losses										Net Paid to
	Gross			Ceded			Net				Incurred Ratio
Balance at December 31, 2022	$	75,747		$	17,086		$	58,661
Losses and loss expenses incurred		6,306			1,158			5,148
Losses and loss expenses paid		(6,315	)		(1,599	)		(4,716	)			92%
Other (incl. foreign exch. revaluation)		(321	)		(125	)		(196	)
Balance at March 31, 2023	$	75,417		$	16,520		$	58,897
Losses and loss expenses incurred		7,174			1,491			5,683
Losses and loss expenses paid		(6,595	)		(1,520	)		(5,075	)			89%
Other (incl. foreign exch. revaluation)		484			117			367
Balance at June 30, 2023	$	76,480		$	16,608		$	59,872
Losses and loss expenses incurred		9,709			2,603			7,106
Losses and loss expenses paid		(6,921	)		(1,701	)		(5,220	)			73%
Other (incl. foreign exch. revaluation)		437			298			139
Balance at September 30, 2023	$	79,705		$	17,808		$	61,897
Losses and loss expenses incurred		8,157			1,994			6,163
Losses and loss expenses paid		(7,971	)		(1,971	)		(6,000	)			97%
Other (incl. foreign exch. revaluation)		231			53			178
Balance at December 31, 2023	$	80,122		$	17,884		$	62,238
Losses and loss expenses incurred		6,603			876			5,727
Losses and loss expenses paid		(6,423	)		(1,601	)		(4,822	)			84%
Other (incl. foreign exch. revaluation)		39			4			35
Balance at March 31, 2024	$	80,341		$	17,163		$	63,178
Losses and loss expenses incurred		7,819			1,388			6,431
Losses and loss expenses paid		(5,657	)		(1,069	)		(4,588	)			71%
Other (incl. foreign exch. revaluation)		(312	)		(73	)		(239	)
Balance at June 30, 2024	$	82,191		$	17,409		$	64,782
Add net recoverable on paid losses		-			1,946			(1,946	)
Balance including net recoverable on paid losses	$	82,191		$	19,355		$	62,836

Loss Reserve Rollforward Page 16

Chubb Limited

Reinsurance Recoverable Analysis

(in millions of U.S. dollars)

(Unaudited)

Net Reinsurance Recoverable by Division
	June 30			March 31			December 31
	2024			2024			2023
Reinsurance recoverable on paid losses and loss expenses
Active operations	$	1,572		$	1,573		$	1,670
Brandywine and Other Run-off		456			458			480
Total	$	2,028		$	2,031		$	2,150
Reinsurance recoverable on unpaid losses and loss expenses
Active operations	$	16,500		$	16,238		$	16,949
Brandywine and Other Run-off		1,208			1,215			1,220
Total	$	17,708		$	17,453		$	18,169
Gross reinsurance recoverable
Active operations	$	18,072		$	17,811		$	18,619
Brandywine and Other Run-off		1,664			1,673			1,700
Total	$	19,736		$	19,484		$	20,319
Provision for uncollectible reinsurance (1)
Active operations	$	(255	)	$	(252	)	$	(240	)
Brandywine and Other Run-off		(126	)		(123	)		(127	)
Total	$	(381	)	$	(375	)	$	(367	)
Net reinsurance recoverable
Active operations	$	17,817		$	17,559		$	18,379
Brandywine and Other Run-off		1,538			1,550			1,573
Total	$	19,355		$	19,109		$	19,952

(1) The provision for uncollectible reinsurance is based on a default analysis applied to gross reinsurance, net of usable collateral of approximately $4.2 billion.

Reinsurance Recoverable Page 17

Chubb Limited

Investment Portfolio

(in millions of U.S. dollars)

(Unaudited)

	June 30 2024			March 31 2024			December 31 2023
Market Value
Fixed maturities available for sale	$	107,840		$	108,289		$	106,571
Other investments-fixed maturities		5,404			4,408			3,773
Short-term investments		4,546			5,107			4,551
Total fixed maturities	$	117,790		$	117,804		$	114,895
Asset Allocation by Market Value
U.S. Treasury / Agency	$	2,741	2%	$	2,899	2%	$	3,590	3%
Corporate and asset-backed securities		43,620	37%		43,447	38%		42,830	37%
Mortgage-backed securities		24,614	21%		23,755	20%		22,058	19%
Municipal		1,947	2%		2,043	2%		2,929	3%
Non-U.S.		40,322	34%		40,553	34%		38,937	34%
Short-term investments		4,546	4%		5,107	4%		4,551	4%
Total fixed maturities	$	117,790	100%	$	117,804	100%	$	114,895	100%
Credit Quality by Market Value
AAA	$	14,087	12%	$	14,289	12%	$	12,669	11%
AA		34,980	30%		34,371	29%		34,312	30%
A		28,056	24%		28,134	24%		27,674	24%
BBB		21,457	18%		21,283	18%		20,810	18%
BB		10,384	9%		10,529	9%		10,270	9%
B		8,293	7%		8,539	7%		8,580	7%
Other		533	0%		659	1%		580	1%
Total fixed maturities	$	117,790	100%	$	117,804	100%	$	114,895	100%
Cost/Amortized Cost, net
Fixed maturities available for sale	$	113,407		$	113,364		$	110,972
Other investments-fixed maturities		5,404			4,408			3,773
Short-term investments		4,547			5,108			4,551
Subtotal fixed maturities (1)		123,358			122,880			119,296
Equity securities		3,792			3,769			3,455
Private debt held-for-investment (1)		2,680			2,708			2,553
Private equities and other		16,474			16,089			15,832
Total investment portfolio	$	146,304		$	145,446		$	141,136
Avg. duration of fixed maturities (2)		4.8 years			4.9 years			4.7 years
Avg. market yield of fixed income investments (3)		5.9%			5.8%			5.6%
Avg. credit quality		A/A			A/A			A/A
Avg. book yield of fixed income investments (3)		4.9%			4.9%			4.8%

(1) Net of valuation allowance for expected credit losses.

(2) Excludes Huatai.

(3) Includes fixed maturities and other debt investments and excludes Huatai.

Investments Page 18

Chubb Limited

Investment Portfolio - 2

(in millions of U.S. dollars)

(Unaudited)

Mortgage-backed Fixed Income Portfolio

Mortgage-backed securities

	S&P Credit Rating
	AAA		AA		A		BBB		BB and below		Total
Market Value at June 30, 2024
Agency residential mortgage-backed securities (RMBS)	$	9	$	21,151	$	-	$	-	$	-	$	21,160
Non-agency RMBS		1,247		118		70		58		6		1,499
Commercial mortgage-backed securities		1,682		154		107		12		-		1,955
Total mortgage-backed securities at market value	$	2,938	$	21,423	$	177	$	70	$	6	$	24,614
U.S. Corporate and Asset-backed Fixed Income Portfolios
Market Value at June 30, 2024			S&P Credit Rating
			Investment Grade
			AAA		AA		A		BBB		Total
Asset-backed			$	4,648	$	877	$	208	$	144	$	5,877
Banks				-		1		2,551		2,196		4,748
Basic Materials				-		-		104		385		489
Communications				-		208		365		1,412		1,985
Consumer, Cyclical				-		131		594		922		1,647
Consumer, Non-Cyclical				35		462		2,394		1,765		4,656
Diversified Financial Services				1		136		423		355		915
Energy				-		102		304		1,175		1,581
Industrial				-		9		599		1,361		1,969
Utilities				219		2		1,110		966		2,297
All Others				129		418		1,320		1,947		3,814
Total			$	5,032	$	2,346	$	9,972	$	12,628	$	29,978
Market Value at June 30, 2024					S&P Credit Rating
					Below Investment Grade
					BB		B		CCC		Total
Asset-backed					$	16	$	56	$	1	$	73
Banks						-		-		-		-
Basic Materials						365		270		16		651
Communications						689		673		92		1,454
Consumer, Cyclical						1,292		1,109		38		2,439
Consumer, Non-Cyclical						1,395		1,380		62		2,837
Diversified Financial Services						301		250		-		551
Energy						788		490		5		1,283
Industrial						973		727		25		1,725
Utilities						299		112		-		411
All Others						768		1,369		81		2,218
Total					$	6,886	$	6,436	$	320	$	13,642

Investments 2 Page 19

Chubb Limited

Investment Portfolio - 3

(in millions of U.S. dollars)

(Unaudited)

Non-U.S. Fixed Income Portfolio

June 30, 2024

Non-U.S. Government Securities	Market Value by S&P Credit Rating
	AAA		AA		A		BBB		BB and below		Total
Republic of Korea	$	-	$	1,812	$	-	$	-	$	-	$	1,812
People’s Republic of China		-		183		1,444		-		-		1,627
Canada		911		-		-		-		-		911
Taiwan		-		888		-		-		-		888
Federative Republic of Brazil		-		-		-		-		595		595
United Mexican States		-		-		-		585		-		585
Kingdom of Thailand		-		-		570		-		-		570
Commonwealth of Australia		536		-		-		-		-		536
Province of Ontario		-		-		512		-		-		512
United Kingdom		-		436		-		-		-		436
Other Non-U.S. Government Securities		559		2,066		1,645		864		1,391		6,525
Total	$	2,006	$	5,385	$	4,171	$	1,449	$	1,986	$	14,997
Non-U.S. Corporate Securities	Market Value by S&P Credit Rating
	AAA		AA		A		BBB		BB and below		Total
China	$	-	$	-	$	6,187	$	253	$	14	$	6,454
United Kingdom		24		36		845		1,186		458		2,549
Canada		148		80		922		736		346		2,232
United States (1)		-		9		455		463		826		1,753
France		5		44		853		545		129		1,576
South Korea		-		461		407		655		7		1,530
Australia		56		288		382		356		22		1,104
Japan		-		-		646		159		11		816
Germany		75		101		86		287		65		614
Switzerland		53		43		406		7		14		523
Other Non-U.S. Corporate Securities		340		423		1,582		2,390		1,439		6,174
Total	$	701	$	1,485	$	12,771	$	7,037	$	3,331	$	25,325

(1) Countries represent the ultimate parent company’s country of risk. Non-U.S. corporate securities could be issued by foreign subsidiaries of U.S. corporations.

Investments 3 Page 20

Chubb Limited

Investment Portfolio - 4

(in millions of U.S. dollars)

(Unaudited)

Fixed Maturity Investment Portfolio

Top 10 Global Corporate Exposures

	June 30, 2024		Market Value		Rating
1	Bank of America Corp		$	804	A-
2	Morgan Stanley			705	A-
3	JP Morgan Chase & Co			652	A-
4	Wells Fargo & Co			614	BBB+
5	Goldman Sachs Group Inc			561	BBB+
6	Citigroup Inc			558	BBB+
7	UBS Group AG			412	A-
8	Verizon Communications Inc			397	BBB+
9	AT&T Inc			394	BBB
10	HSBC Holdings Plc			364	A-

Investments 4 Page 21

Chubb Limited

Chubb Net Realized and Unrealized Gains (Losses)

(in millions of U.S. dollars)

(Unaudited)

	Three months ended June 30, 2024
	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax
Fixed income investments (1)	$	(77	)	$	22		$	(55	)	$	(483	)	$	7		$	(476	)	$	(560	)	$	29		$	(531	)
Public equity:
Realized gains (losses) on sales		13			(1	)		12			-			-			-			13			(1	)		12
Mark-to-market		23			3			26			-			-			-			23			3			26
Private equity: Mark-to-market		55			1			56			-			-			-			55			1			56
Total investment portfolio		14			25			39			(483	)		7			(476	)		(469	)		32			(437	)
Foreign exchange		27			(6	)		21			(497	)		19			(478	)		(470	)		13			(457	)
Partially-owned entities (2)		4			-			4			-			-			-			4			-			4
Current discount rate on future policy benefits		-			-			-			57			(2	)		55			57			(2	)		55
Instrument-specific credit risk - market risk benefits		-			-			-			5			(1	)		4			5			(1	)		4
Other		3			-			3			(29	)		6			(23	)		(26	)		6			(20	)
Net gains (losses)	$	48		$	19		$	67		$	(947	)	$	29		$	(918	)	$	(899	)	$	48		$	(851	)

(1) The quarter includes pre-tax realized losses on investment derivatives of $17 million, a net increase of the valuation allowance of expected credit losses of $8 million on fixed maturities, and impairments of $28 million for fixed maturities.

(2) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.

	Three months ended June 30, 2023
	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax
Fixed income investments (3)	$	(162	)	$	33		$	(129	)	$	(1,194	)	$	44		$	(1,150	)	$	(1,356	)	$	77		$	(1,279	)
Public equity:
Realized gains (losses) on sales		2			(1	)		1			-			-			-			2			(1	)		1
Mark-to-market		26			(3	)		23			-			-			-			26			(3	)		23
Private equity: Mark-to-market		17			12			29			-			-			-			17			12			29
Total investment portfolio		(117	)		41			(76	)		(1,194	)		44			(1,150	)		(1,311	)		85			(1,226	)
Foreign exchange		(186	)		44			(142	)		215			1			216			29			45			74
Partially-owned entities (4)		(6	)		1			(5	)		-			-			-			(6	)		1			(5	)
Current discount rate on future policy benefits		-			-			-			(35	)		(7	)		(42	)		(35	)		(7	)		(42	)
Instrument-specific credit risk - market risk benefits		-			-			-			11			-			11			11			-			11
Other		(9	)		1			(8	)		48			(10	)		38			39			(9	)		30
Net gains (losses)	$	(318	)	$	87		$	(231	)	$	(955	)	$	28		$	(927	)	$	(1,273	)	$	115		$	(1,158	)

(3) The quarter includes pre-tax realized losses on investment derivatives of $55 million, a net decrease of the valuation allowance of expected credit losses of $8 million, and impairments of $19 million for fixed maturities.

(4) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.

Net Gains (Losses) Page 22

Chubb Limited

Chubb Net Realized and Unrealized Gains (Losses)

(in millions of U.S. dollars)

(Unaudited)

	Six months ended June 30, 2024
	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax
Fixed income investments (1)	$	(239	)	$	39		$	(200	)	$	(1,173	)	$	49		$	(1,124	)	$	(1,412	)	$	88		$	(1,324	)
Public equity:
Realized gains (losses) on sales		12			(1	)		11			-			-			-			12			(1	)		11
Mark-to-market		59			6			65			-			-			-			59			6			65
Private equity: Mark-to-market		182			7			189			-			-			-			182			7			189
Total investment portfolio		14			51			65			(1,173	)		49			(1,124	)		(1,159	)		100			(1,059	)
Foreign exchange		(104	)		25			(79	)		(409	)		12			(397	)		(513	)		37			(476	)
Partially-owned entities (2)		1			-			1			-			-			-			1			-			1
Current discount rate on future policy benefits		-			-			-			37			(22	)		15			37			(22	)		15
Instrument-specific credit risk - market risk benefits		-			-			-			10			(1	)		9			10			(1	)		9
Other		(7	)		(2	)		(9	)		2			-			2			(5	)		(2	)		(7	)
Net gains (losses)	$	(96	)	$	74		$	(22	)	$	(1,533	)	$	38		$	(1,495	)	$	(1,629	)	$	112		$	(1,517	)

(1) Year to date includes pre-tax realized losses on investment derivatives of $60 million, a net decrease of the valuation allowance of expected credit losses of $33 million on fixed maturities, and impairments of $62 million for fixed maturities.

(2) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.

	Six months ended June 30, 2023
	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax
Fixed income investments (3)	$	(388	)	$	59		$	(329	)	$	592		$	(122	)	$	470		$	204		$	(63	)	$	141
Public equity:
Realized gains (losses) on sales		(3	)		-			(3	)		-			-			-			(3	)		-			(3	)
Mark-to-market		42			(5	)		37			-			-			-			42			(5	)		37
Private equity: Mark-to-market		274			23			297			-			-			-			274			23			297
Total investment portfolio		(75	)		77			2			592			(122	)		470			517			(45	)		472
Foreign exchange		(55	)		26			(29	)		38			8			46			(17	)		34			17
Partially-owned entities (4)		(10	)		1			(9	)		-			-			-			(10	)		1			(9	)
Current discount rate on future policy benefits		-			-			-			(186	)		14			(172	)		(186	)		14			(172	)
Instrument-specific credit risk - market risk benefits		-			-			-			8			-			8			8			-			8
Other		(16	)		3			(13	)		15			(4	)		11			(1	)		(1	)		(2	)
Net gains (losses)	$	(156	)	$	107		$	(49	)	$	467		$	(104	)	$	363		$	311		$	3		$	314

(3) Year to date includes pre-tax realized losses on investment derivatives of $101 million, a net decrease of the valuation allowance of expected credit losses of $10 million, and impairments of $44 million for fixed maturities.

(4) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.

Net Gains (Losses) 2 Page 23

Chubb Limited

Debt and Capital

(in millions of U.S. dollars, except ratios)

(Unaudited)

	June 30		March 31		December 31		December 31
	2024		2024		2023		2022
Financial Debt:
Total short-term debt (1)	$	1,553	$	2,265	$	1,460	$	475
Total long-term debt		13,178		13,248		13,035		14,402
Total financial debt	$	14,731	$	15,513	$	14,495	$	14,877
Hybrid debt:
Total trust preferred securities		309		309		308		308
Total	$	15,040	$	15,822	$	14,803	$	15,185
Capitalization:
Chubb shareholders’ equity	$	61,038	$	60,535	$	59,507	$	50,519
Hybrid debt		309		309		308		308
Financial debt		14,731		15,513		14,495		14,877
Total capitalization	$	76,078	$	76,357	$	74,310	$	65,704
Leverage ratios (based on total capital):
Hybrid debt		0.4%		0.4%		0.4%		0.5%
Financial debt		19.4%		20.3%		19.5%		22.6%
Total hybrid & financial debt		19.8%		20.7%		19.9%		23.1%

Note: As of June 30, 2024, there was $0.9 billion usage of credit facilities on total capacity of $4.0 billion.

(1) During Q2 2024, the $700 million 3.35% senior notes matured and were fully paid.

Debt and Capital Page 24

Chubb Limited

Computation of Basic and Diluted Earnings Per Share

(in millions of U.S. dollars, except share and per share data)

(Unaudited)

	Three months ended June 30						Six months ended June 30
	2024			2023			2024			2023
Numerator
Core operating income	$	2,196		$	2,044		$	4,412		$	3,886
Amortization of fair value adjustment of acquired invested assets and long-term debt, pre-tax		2			2			3			5
Tax expense on amortization adjustment		4			(6	)		(1	)		(7	)
Cigna integration expenses, pre-tax		(7	)		(15	)		(14	)		(37	)
Tax benefit on Cigna integration expenses		(3	)		6			3			9
Adjusted net realized gains (losses), pre-tax		48			(318	)		(96	)		(156	)
Tax benefit on adjusted net realized gains (losses)		19			87			74			107
Market risk benefits gains (losses), pre- and after-tax		(29	)		(7	)		(8	)		(122	)
Chubb net income	$	2,230		$	1,793		$	4,373		$	3,685
Rollforward of Common Shares Outstanding
Shares - beginning of period		406,033,066			414,158,680			405,269,637			414,594,856
Repurchase of shares		(2,254,236	)		(3,674,300	)		(3,474,357	)		(5,684,700	)
Shares issued (canceled), excluding option exercises		(38,489	)		46,820			690,475			1,152,633
Issued for option exercises		333,154			160,154			1,587,740			628,565
Shares - end of period		404,073,495			410,691,354			404,073,495			410,691,354
Denominator
Weighted average shares outstanding (1)		404,615,765			412,487,400			405,139,228			413,383,304
Effect of other dilutive securities		3,990,902			3,084,476			4,138,555			3,387,233
Adj. wtd. avg. shares outstanding and assumed conversions		408,606,667			415,571,876			409,277,783			416,770,537
Basic earnings per share
Core operating income	$	5.43		$	4.96		$	10.89		$	9.40
Amortization of fair value adjustment of acquired invested assets and long-term debt, net of tax		0.01			(0.01	)		-			-
Cigna integration expenses, net of tax		(0.02	)		(0.02	)		(0.03	)		(0.07	)
Adjusted net realized gains (losses), net of tax		0.16			(0.56	)		(0.05	)		(0.12	)
Market risk benefits gains (losses), net of tax		(0.07	)		(0.02	)		(0.02	)		(0.29	)
Chubb net income	$	5.51		$	4.35		$	10.79		$	8.92
Diluted earnings per share
Core operating income	$	5.38		$	4.92		$	10.78		$	9.32
Amortization of fair value adjustment of acquired invested assets and long-term debt, net of tax		0.01			(0.01	)		-			-
Cigna integration expenses, net of tax		(0.02	)		(0.02	)		(0.03	)		(0.07	)
Adjusted net realized gains (losses), net of tax		0.16			(0.55	)		(0.05	)		(0.12	)
Market risk benefits gains (losses), net of tax		(0.07	)		(0.02	)		(0.02	)		(0.29	)
Chubb net income	$	5.46		$	4.32		$	10.68		$	8.84

(1) Includes unvested restricted stock units that are not included in common shares outstanding as the shares are not issued until time of vesting, but are eligible to receive dividends (participating securities).

Earnings per share Page 25

Chubb Limited

Book Value and Book Value per Common Share

(in millions of U.S. dollars, except share and per share data)

(Unaudited)

Reconciliation of Book Value per Common Share

	June 30			March 31			December 31			June 30
	2024			2024			2023			2023
Chubb shareholders’ equity	$	61,038		$	60,535		$	59,507		$	52,875
Less: Chubb goodwill and other intangible assets, net of tax		24,246			24,175			23,853			20,442
Numerator for tangible book value per share	$	36,792		$	36,360		$	35,654		$	32,433
Book value - % change over prior quarter		0.8%			1.7%			13.6%			-0.2%
Tangible book value - % change over prior quarter		1.2%			2.0%			23.3%			-0.7%
Denominator: shares outstanding		404,073,495			406,033,066			405,269,637			410,691,354
Book value per common share	$	151.05		$	149.09		$	146.83		$	128.75
Tangible book value per common share	$	91.05		$	89.55		$	87.98		$	78.97
Reconciliation of Book Value
Chubb shareholders’ equity, beginning of quarter	$	60,535		$	59,507		$	52,373		$	52,987
Core operating income		2,196			2,216			3,410			2,044
Amortization of fair value adjustment of acquired invested assets and long-term debt		6			(4	)		1			(4	)
Cigna integration expenses		(10	)		(1	)		(17	)		(9	)
Adjusted net realized gains (losses) (1)		67			(89	)		59			(231	)
Market risk benefits gains (losses)		(29	)		21			(153	)		(7	)
Net unrealized gains (losses) on investments		(476	)		(648	)		4,776			(1,150	)
Repurchase of shares		(570	)		(316	)		(720	)		(724	)
Dividend declared on common shares		(369	)		(350	)		(351	)		(354	)
Cumulative translation gains (losses)		(478	)		81			203			216
Postretirement benefit liability		1			(1	)		75			(1	)
Current discount rate on future policy benefits		55			(40	)		(353	)		(42	)
Instrument-specific credit risk - market risk benefits		4			5			(1	)		11
Other (2)		106			154			205			139
Chubb shareholders’ equity, end of quarter	$	61,038		$	60,535		$	59,507		$	52,875

(1) Includes net realized gains (losses) related to unconsolidated entities.

(2) Other primarily includes proceeds from exercise of stock options and stock compensation, offset by the value of any share cancellations for restricted stock vesting taxes.

Reconciliation Book Value Page 26

Chubb Limited

Non-GAAP Financial Measures

(Unaudited)

Regulation G - Non-GAAP Financial Measures

In presenting our results, we included and discussed certain non-GAAP measures. These non-GAAP measures, which may be defined differently by other companies, are important for an understanding of our overall results of operations and financial condition. However, they should not be viewed as a substitute for measures determined in accordance with generally accepted accounting principles (GAAP).

Throughout this document there are various measures presented on a constant-dollar basis (i.e., excludes the impact of foreign exchange). We believe it is useful to evaluate the trends in our results exclusive of the effect of fluctuations in exchange rates between the U.S. dollar and the currencies in which our international business is transacted, as these exchange rates could fluctuate significantly between periods and distort the analysis of trends. The impact is determined by assuming constant foreign exchange rates between periods by translating prior period results using the same local currency exchange rates as the comparable current period.

P&C underwriting income (loss) excludes the Life Insurance segment and is calculated by subtracting adjusted losses and loss expenses, adjusted policy benefits, policy acquisition costs and administrative expenses from net premiums earned. We use underwriting income (loss) and operating ratios to monitor the results of our operations without the impact of certain factors, including net investment income, other income (expense), interest expense, amortization expense of purchased intangibles, Cigna integration expense, amortization of fair value of acquired invested assets and debt, income tax expense, adjusted net realized gains (losses), and market risk benefits gains (losses).

P&C CAY underwriting income excluding catastrophe losses (Cats) is P&C underwriting income (loss) adjusted to exclude P&C Cats and prior period development (PPD). We believe it is useful to exclude Cats, as they are not predictable as to timing and amount, and PPD, as these unexpected loss developments on historical reserves are not indicative of our current underwriting performance. We believe the use of these measures enhances the understanding of our results of operations by highlighting the underlying profitability of our insurance business.

Adjusted losses and loss expenses include realized gains and losses on crop derivatives. These derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in commodity pricing impacts underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations, and therefore realized gains (losses) from these derivatives are reclassified to adjusted losses and loss expenses.

Adjusted policy benefits include gains and losses from fair value changes in separate account liabilities, as well as the offsetting movement in separate account assets that do not qualify for separate account reporting under U.S. GAAP, for purposes of reporting Life Insurance underwriting income. We view gains and losses from fair value changes in both non-qualified separate account assets and liabilities as part of the results of our underwriting operations, and therefore these gains and losses are reclassified from Other (income) expense to adjusted policy benefits. In addition, adjusted policy benefits includes the impact of realized gains and losses on underlying investments supporting the liabilities of certain participating policies for the portion that are shared with policyholders. These realized gains and losses on underlying investments have been reclassified from net realized gains (losses) to adjusted policy benefits. We believe this presentation better reflects the economics of the liabilities and the underlying investments supporting that liabilities.

Adjusted net investment income is net investment income excluding the amortization of the fair value adjustment on acquired invested assets from certain acquisitions, and including investment income from partially-owned investment companies (private equity partnerships) where our ownership interest is in excess of 3% that are accounted for under the equity method. The mark-to-market movement on these private equity partnerships are included in adjusted net realized gains (losses) as described below. We believe this measure is meaningful as it highlights the underlying performance of our invested assets and portfolio management in support of our lines of business.

Adjusted net realized gains (losses), net of tax, includes net realized gains (losses) and net realized gains (losses) recorded in other income (expense) related to unconsolidated subsidiaries, and excludes realized gains and losses on crop derivatives and realized gains and losses on underlying investments supporting the liabilities of certain participating policies related to the policyholders’ share of gains and losses.

Adjusted interest expense is interest expense excluding the amortization of the fair value adjustment on acquired long-term debt, related to the Chubb Corp acquisition due to the size and complexity of this acquisition.

Other income (expense) - operating excludes from consolidated Other income (expense) the portion of net realized gains and losses related to unconsolidated entities, other income (expense) from private equity partnerships, and gains and losses from fair value changes in separate account assets that do not qualify for separate account reporting under U.S. GAAP. Net realized gains (losses) related to unconsolidated entities is excluded from core operating income (loss) in order to enhance the understanding of our results of underwriting operations as they are heavily influenced by, and fluctuate in part according to, market conditions. Other income (expense) from private equity partnerships and net realized gains and losses related to unconsolidated entities are recorded to Other income (expense) in our income statement on a U.S. GAAP basis.

P&C combined ratio excludes the Life Insurance segment. P&C loss and loss expense ratio and P&C combined ratio include adjusted losses and loss expenses and policy benefits in the ratio numerator. P&C expense ratio and P&C combined ratio include policy acquisition costs and administrative expenses in the ratio numerator. A reconciliation of combined ratio to P&C combined ratio is provided on pages 30-33.

CAY P&C combined ratio excluding catastrophe losses excludes Cats and PPD from the P&C combined ratio. We exclude Cats as they are not predictable as to timing and amount and PPD as these unexpected loss developments on historical reserves are not indicative of our current underwriting performance. The combined ratio numerator is adjusted to exclude Cats, PPD and expense adjustments on PPD, and the denominator is adjusted to exclude net premiums earned adjustments on PPD and reinstatement premiums on Cats and PPD. In periods where there are adjustments on loss sensitive policies, these adjustments are excluded from PPD and net premiums earned when calculating the ratios. We believe this measure provides a better evaluation of our underwriting performance and enhances the understanding of the trends in our P&C business that may be obscured by these items. This measure is commonly reported among our peer companies and allows for a better comparison.

Expense ratio excluding accident and health (A&H) excludes the impact of our A&H business from our expense ratio. The expense ratio for the A&H business is typically higher than our traditional P&C business, and we believe that this measure provides better comparison to our peer companies that may not have a significant A&H block of business.

Global P&C performance metrics comprise consolidated operating results (including corporate) and exclude the operating results of the company’s Life Insurance and North America Agricultural Insurance segments. The agriculture insurance business is a different business in that it is a public sector and private sector partnership in which insurance rates, premium growth, and risk-sharing is not market-driven like the remainder of the company’s P&C insurance business. We believe that these measures are useful and meaningful to investors as they are used by management to assess the company’s global P&C operations which are the most economically similar. We exclude the North America Agricultural Insurance and Life Insurance segments because the results of these businesses do not always correlate with the results of our global P&C operations.

Core operating income, net of tax, relates only to Chubb income, which excludes noncontrolling interests. It excludes from Chubb net income the after-tax impact of adjusted net realized gains (losses), market risk benefit gains (losses), Cigna integration expenses, the amortization of fair value adjustment of acquired invested assets and long-term debt related to certain acquisitions. We believe this presentation enhances the understanding of our results of operations by highlighting the underlying profitability of our insurance business. We exclude adjusted net realized gains (losses) and market risk benefit gains (losses) because the amount of these gains (losses) is heavily influenced by, and fluctuates in part according to, the availability of market opportunities. We exclude the amortization of fair value adjustments on purchased invested assets and long-term debt related to certain acquisitions due to the size and complexity of these acquisitions. We also exclude Cigna integration expenses, which are incurred by the overall company and are included in Corporate. These expenses include legal and professional fees and all other costs directly related to the integration activities of the Cigna acquisition. The costs are not related to the ongoing activities of the individual segments and are therefore also excluded from our definition of segment income. We believe these integration expenses are not indicative of our underlying profitability, and excluding these integration expenses facilitates the comparison of our financial results to our historical operating results. References to core operating income measures mean net of tax, whether or not noted.

Chubb core operating effective tax rate is income tax expense (benefit) excluding tax expense (benefit) on adjusted net realized gains (losses), tax benefit on amortization of fair value of acquired invested assets and debt, and tax benefit on Cigna integration expenses, all attributable to Chubb, divided by Chubb income before tax excluding adjusted net realized gains (losses) before tax, market risk benefit gains (losses) before tax, amortization of fair value of acquired invested assets and debt before tax, and Cigna integration expenses, all attributable to Chubb, before tax. We believe the use of this measure is meaningful to show the tax on the underlying performance of our insurance business, by excluding the taxes on adjusted net realized gains (losses), market risk benefit gains (losses), amortization of the fair value adjustments related to purchased invested assets and long-term debt and Cigna integration expenses. Refer to the definition of core operating income (loss), net of tax above for more information on these adjustments.

Tangible book value per common share is Chubb shareholders’ equity less Chubb goodwill and other intangible assets, net of tax, divided by the shares outstanding. We believe that goodwill and other intangible assets are not indicative of our underlying insurance results or trends and make book value comparisons to less acquisitive peer companies less meaningful. Book value per share and tangible book value per share excluding accumulated other comprehensive income (loss) (AOCI), excludes AOCI from the numerator because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates and foreign currency movement, to highlight underlying growth in book and tangible book value.

International life insurance net premiums written and deposits collected includes deposits collected on universal life and investment contracts (life deposits). Life deposits are not reflected as revenues in our consolidated statements of operations in accordance with U.S. GAAP. However, we include life deposits in presenting growth in our life insurance business because new life deposits are an important component of production and key to our efforts to grow our business.

Adjusted operating cash flow is Operating cash flow excluding the operating cash flow related to the net investing activities of Huatai’s asset management companies as it relates to the Consolidated Investment Products as required under consolidation accounting. Because these entities are investment companies, we are required to retain the investment company presentation in our consolidated results, which means, we include the net investing activities of these entities in our operating cash flows. Due to the significant impact that this required investment company classification has on the presentation of the company’s operating cash flow, the company has elected to remove the impact of these net investing activities of these investment companies. The investment company presentation is not consistent with our consolidated cash flow presentation. These net investing activities are more appropriately classified outside of operating cash flows, consistent with our consolidated investing activities, and may impact a reader’s analysis of our underlying operating cash flow related to the core insurance company operations. Accordingly, we believe that it is appropriate to adjust operating cash flow for the impact of these consolidated investment products.

Reconciliation Non-GAAP Page 27

Chubb Limited

Non-GAAP Financial Measures - 2

(in millions of U.S. dollars, except per share data and ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

Chubb Core operating effective tax rate

The following table presents the reconciliation of effective tax rate to the Core operating effective tax rate:																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Tax expense (benefit), as reported	$	489		$	340		$	(680)		$	412		$	392		$	829		$	776		$	508
Less: tax expense on amortization of fair value of acquired invested assets and debt		(4	)		5			1			-			6			1			7			8
Less: tax benefit on Cigna integration expenses		3			(6	)		(1	)		(4	)		(6	)		(3	)		(9	)		(14	)
Less: tax benefit on adjusted net realized gains (losses)		(19	)		(55	)		(9	)		(57	)		(87	)		(74	)		(107	)		(173	)
Tax expense (benefit), adjusted	$	509		$	396		$	(671)		$	473		$	479		$	905		$	885		$	687
Income before tax, as reported	$	2,719		$	2,483		$	2,620		$	2,455		$	2,185		$	5,202		$	4,461		$	9,536
Less: amortization of fair value of acquired invested assets and debt		2			1			2			(2	)		2			3			5			5
Less: Cigna integration expenses		(7	)		(7	)		(18	)		(14	)		(15	)		(14	)		(37	)		(69	)
Less: adjusted realized gains (losses)		39			(238	)		(84	)		(70	)		(309	)		(199	)		(385	)		(539	)
Less: realized gains (losses) related to unconsolidated entities		9			94			134			59			(9	)		103			229			422
Less: market risk benefits gains (losses)		(29	)		21			(153	)		(32	)		(7	)		(8	)		(122	)		(307	)
Core operating income before tax	$	2,705		$	2,612		$	2,739		$	2,514		$	2,523		$	5,317		$	4,771		$	10,024
Effective tax rate		18.0%			13.7%			-26.0%			16.8%			17.9%			15.9%			17.4%			5.3%
Adjustment for tax impact of amortization of fair value of acquired invested assets and debt		0.2%			-0.2%			-0.1%			0.0%			-0.2%			0.0%			-0.1%			-0.1%
Adjustment for tax impact of Cigna integration expenses		-0.2%			0.2%			0.2%			0.1%			0.1%			0.0%			0.0%			0.1%
Adjustment for tax impact of adjusted net realized gains (losses)		1.0%			1.4%			0.0%			2.1%			1.3%			1.1%			1.7%			1.8%
Adjustment for tax impact of market risk benefits gains (losses)		-0.2%			0.1%			1.4%			-0.2%			-0.1%			0.0%			-0.5%			-0.2%
Core operating effective tax rate		18.8%			15.2%			-24.5%			18.8%			19.0%			17.0%			18.5%			6.9%
Core operating income
The following table presents the reconciliation of Chubb net income to Core operating income:																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Net income, as reported	$	2,230		$	2,143		$	3,300		$	2,043		$	1,793		$	4,373		$	3,685		$	9,028
Amortization of fair value adjustment of acquired invested assets and long-term debt, pre-tax		2			1			2			(2	)		2			3			5			5
Tax (expense) benefit on amortization adjustment		4			(5	)		(1	)		-			(6	)		(1	)		(7	)		(8	)
Cigna integration expenses, pre-tax		(7	)		(7	)		(18	)		(14	)		(15	)		(14	)		(37	)		(69	)
Tax benefit on Cigna integration expenses		(3	)		6			1			4			6			3			9			14
Adjusted realized gains (losses), pre-tax		39			(238	)		(84	)		(70	)		(309	)		(199	)		(385	)		(539	)
Net realized gains (losses) related to unconsolidated entities, pre-tax (1)		9			94			134			59			(9	)		103			229			422
Tax (expense) benefit on adjusted net realized gains (losses)		19			55			9			57			87			74			107			173
Market risk benefits gains (losses), pre- and after-tax		(29	)		21			(153	)		(32	)		(7	)		(8	)		(122	)		(307	)
Core operating income	$	2,196		$	2,216		$	3,410		$	2,041		$	2,044		$	4,412		$	3,886		$	9,337
Catastrophe losses - after-tax	$	482		$	347		$	257		$	544		$	319		$	829		$	701		$	1,502
Unfavorable (favorable) prior period development (PPD) - after-tax	$	(167)		$	(168)		$	(184)		$	(116)		$	(155)		$	(335)		$	(304)		$	(604)
P&C Underwriting income and P&C CAY underwriting income ex Cats
The following table presents the reconciliation of Net income to P&C underwriting income and P&C CAY underwriting income ex Cats:																YTD			YTD			Full Year
	2Q-24			1Q-24			4Q-23			3Q-23			2Q-23			2024			2023			2023
Net income, as reported	$	2,216		$	2,294		$	3,290		$	2,040		$	1,793		$	4,510		$	3,685		$	9,015
Less: Income tax (expense) benefit		(490	)		(342	)		678			(413	)		(392	)		(832	)		(776	)		(511	)
Amortization expense of purchased intangibles		(80	)		(80	)		(84	)		(84	)		(70	)		(160	)		(142	)		(310	)
Other income (expense)		110			191			286			154			100			301			396			836
Interest expense		(182	)		(178	)		(173	)		(174	)		(165	)		(360	)		(325	)		(672	)
Net investment income		1,468			1,391			1,371			1,314			1,145			2,859			2,252			4,937
Net realized gains (losses)		104			(101	)		(123	)		(103	)		(304	)		3			(381	)		(607	)
Market risk benefits gains (losses)		(29	)		21			(153	)		(32	)		(7	)		(8	)		(122	)		(307	)
Cigna integration expenses		(7	)		(7	)		(18	)		(14	)		(15	)		(14	)		(37	)		(69	)
Life Insurance underlying income (loss) (2)		(99	)		(2	)		(13	)		80			81			(101	)		186			253
Add: Realized gains (losses) on crop derivatives		(3	)		(1	)		(2	)		(7	)		5			(4	)		4			(5	)
P&C underwriting income	$	1,418		$	1,400		$	1,517		$	1,305		$	1,425		$	2,818		$	2,638		$	5,460
Add: Catastrophe losses (including reinstatement premiums) - pre-tax		580			435			300			670			400			1,015			858			1,828
Unfavorable (favorable) prior period development (PPD) - pre-tax		(192	)		(207	)		(177	)		(200	)		(200	)		(399	)		(396	)		(773	)
P&C CAY underwriting income ex Cats	$	1,806		$	1,628		$	1,640		$	1,775		$	1,625		$	3,434		$	3,100		$	6,515

(1) Realized gains (losses) on partially-owned entities, which are investments where we hold more than an insignificant percentage of the investee’s shares. The net income or loss is included in other income (expense) under GAAP.

(2) Life Insurance underlying income (loss) is calculated by subtracting losses and loss expenses, policy benefits, policy acquisition costs and administrative expenses from net premiums earned related to the Life Insurance segment.

Reconciliation Non-GAAP 2 Page 28

Chubb Limited

Non-GAAP Financial Measures - 3

(in millions of U.S. dollars, except share, per share data, and ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

Core operating ROE and Core operating ROTE

Core operating return on equity (ROE) and Core operating return on tangible equity (ROTE) are annualized non-GAAP financial measures. The numerator includes core operating income (loss), net of tax. The denominator includes the average Chubb shareholders’ equity for the period adjusted to exclude unrealized gains (losses) on investments, current discount rate on future policy benefits (FPB), and instrument-specific credit risk – market risk benefits (MRB), all net of tax and attributable to Chubb. For the ROTE calculation, the denominator is also adjusted to exclude Chubb goodwill and other intangible assets, net of tax. These measures enhance the understanding of the return on shareholders’ equity by highlighting the underlying profitability relative to shareholders’ equity and tangible equity excluding the effect of these items as these are heavily influenced by changes in market conditions. We believe ROTE is meaningful because it measures the performance of our operations without the impact of goodwill and other intangible assets.

							YTD			YTD			Full Year
	2Q-24			2Q-23			2024			2023			2023
Chubb net income	$	2,230		$	1,793		$	4,373		$	3,685		$	9,028
Core operating income	$	2,196		$	2,044		$	4,412		$	3,886		$	9,337
Equity - beginning of period, as reported	$	60,535		$	52,987		$	59,507		$	50,519		$	50,519
Less: unrealized gains (losses) on investments, net of deferred tax		(4,825	)		(5,659	)		(4,177	)		(7,279	)		(7,279	)
Less: changes in current discount rate on FPB, net of deferred tax		11			(205	)		51			(75	)		(75	)
Less: changes in instrument-specific credit risk on MRB, net of deferred tax		(17	)		(27	)		(22	)		(24	)		(24	)
Equity - beginning of period, as adjusted	$	65,366		$	58,878		$	63,655		$	57,897		$	57,897
Less: Chubb goodwill and other intangible assets, net of tax		24,175			20,333			23,853			20,455			20,455
Equity - beginning of period, as adjusted ex Chubb goodwill and other intangible assets	$	41,191		$	38,545		$	39,802		$	37,442		$	37,442
Equity - end of period, as reported	$	61,038		$	52,875		$	61,038		$	52,875		$	59,507
Less: unrealized gains (losses) on investments, net of deferred tax		(5,301	)		(6,809	)		(5,301	)		(6,809	)		(4,177	)
Less: changes in current discount rate on FPB, net of deferred tax		66			(247	)		66			(247	)		51
Less: changes in instrument-specific credit risk on MRB, net of deferred tax		(13	)		(16	)		(13	)		(16	)		(22	)
Equity - end of period, as adjusted	$	66,286		$	59,947		$	66,286		$	59,947		$	63,655
Less: Chubb goodwill and other intangible assets, net of tax		24,246			20,442			24,246			20,442			23,853
Equity - end of period, as adjusted ex Chubb goodwill and other intangible assets	$	42,040		$	39,505		$	42,040		$	39,505		$	39,802
Weighted average equity, as reported	$	60,787		$	52,931		$	60,273		$	51,697		$	55,013
Weighted average equity, as adjusted ex Chubb goodwill and other intangible assets	$	41,616		$	39,025		$	40,921		$	38,474		$	38,622
Weighted average equity, as adjusted	$	65,826		$	59,413		$	64,971		$	58,922		$	60,776
ROE		14.7%			13.6%			14.5%			14.3%			16.4%
Core operating ROTE		21.1%			21.0%			21.6%			20.2%			24.2%
Core operating ROE		13.3%			13.8%			13.6%			13.2%			15.4%
Private equities realized gains (losses), after-tax (1)	$	56		$	29		$	189		$	297		$	523
Impact of Private equities if included in Core operating ROE - Favorable (unfavorable) (1)		0.3 pts			0.2 pts			0.6 pts			1.0 pt			0.9 pts
Reconciliation of Book Value and Tangible Book Value per Share to adjusted measures
	June 30			March 31			December 31			QTD %			YTD %
	2024			2024			2023			Change			Change
Book value	$	61,038		$	60,535		$	59,507
Less: AOCI		(8,304	)		(7,386	)		(6,809	)
Book value excluding AOCI		69,342			67,921			66,316
Tangible book value		36,792			36,360			35,654
Less: Tangible AOCI		(7,286	)		(6,581	)		(5,999	)
Tangible book value excluding tangible AOCI	$	44,078		$	42,941		$	41,653
Denominator: shares outstanding		404,073,495			406,033,066			405,269,637
Book value per share excluding AOCI	$	171.60		$	167.28		$	163.64			2.6%			4.9%
Tangible book value per share excluding tangible AOCI	$	109.08		$	105.75		$	102.78			3.1%			6.1%

(1) We record the change in the fair value mark and gains (losses) on sales of private equity funds as realized gains (losses) instead of investment income.

Reconciliation Non-GAAP 3 Page 29

Chubb Limited

Non-GAAP Financial Measures - 4

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio

The P&C combined ratio includes the impact of realized gains and losses on crop derivatives. These derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in commodity pricing will impact underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations.

The following tables present the calculation of combined ratio, as reported, for each segment to P&C combined ratio, adjusted for catastrophe losses (Cats) and prior period development (PPD).

		North			North			North
		America			America			America			Overseas
		Commercial P&C			Personal P&C			Agricultural			General			Global					Total
Q2 2024		Insurance			Insurance			Insurance			Insurance			Reinsurance		Corporate			P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	3,074		$	876		$	540		$	1,763		$	155	$	93		$	6,501
Realized (gains) losses on crop derivatives			-			-			3			-			-		-			3
Adjusted losses and loss expenses/policy benefits	A	$	3,074		$	876		$	543		$	1,763		$	155	$	93		$	6,504
Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(252	)		(138	)		(33	)		(157	)		-		-			(580	)
Reinstatement premiums collected (expensed) on catastrophe losses			-			-			-			-			-		-			-
Catastrophe losses, gross of related adjustments			(252	)		(138	)		(33	)		(157	)		-		-			(580	)
PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			144			64			-			61			16		(93	)		192
Net premiums earned adjustments on PPD - unfavorable (favorable)			8			-			-			-			-		-			8
Expense adjustments - unfavorable (favorable)			(1	)		-			-			-			-		-			(1	)
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			-			1		-			1
PPD, gross of related adjustments - favorable (unfavorable)			151			64			-			61			17		(93	)		200
CAY loss and loss expense ex Cats	B	$	2,973		$	802		$	510		$	1,667		$	172	$	-		$	6,124
Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	987		$	387		$	48		$	1,190		$	91	$	99		$	2,802
Expense adjustments - favorable (unfavorable)			1			-			-			-			-		-			1
CAY policy acquisition costs and administrative expenses	D	$	988		$	387		$	48		$	1,190		$	91	$	99		$	2,803
Denominator
Net premiums earned	E	$	4,900		$	1,512		$	626		$	3,347		$	339				$	10,724
Reinstatement premiums (collected) expensed on catastrophe losses			-			-			-			-			-					-
Net premiums earned adjustments on PPD - unfavorable (favorable)			8			-			-			-			-					8
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			-			1					1
Net premiums earned excluding adjustments	F	$	4,908		$	1,512		$	626		$	3,347		$	340				$	10,733
P&C combined ratio
Loss and loss expense ratio	A/E		62.7%			57.9%			86.8%			52.7%			45.7%					60.6%
Policy acquisition cost and administrative expense ratio	C/E		20.2%			25.6%			7.6%			35.5%			27.0%					26.2%
P&C combined ratio			82.9%			83.5%			94.4%			88.2%			72.7%					86.8%
CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		60.6%			53.0%			81.5%			49.8%			50.4%					57.1%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		20.1%			25.6%			7.6%			35.5%			27.0%					26.1%
CAY P&C combined ratio ex Cats			80.7%			78.6%			89.1%			85.3%			77.4%					83.2%
Combined ratio
Combined ratio																				86.8%
Add: impact of gains and losses on crop derivatives																				0.0%
P&C combined ratio																				86.8%

Note: The ratios above are calculated using whole U.S. dollars. Accordingly, calculations using rounded amounts may differ. Letters A, B, C, D, E, and F included in the table are references for calculating the ratios above.

Reconciliation Non-GAAP 4 Page 30

Chubb Limited

Non-GAAP Financial Measures - 5

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio (continued)

YTD 2024		North America Commercial P&C Insurance			North America Personal P&C Insurance			North America Agricultural Insurance			Overseas General Insurance			Global Reinsurance		Corporate			Total P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	6,249		$	1,775		$	588		$	3,289		$	292	$	103		$	12,296
Realized (gains) losses on crop derivatives			-			-			4			-			-		-			4
Adjusted losses and loss expenses/policy benefits	A	$	6,249		$	1,775		$	592		$	3,289		$	292	$	103		$	12,300
Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(488	)		(308	)		(36	)		(183	)		-		-			(1,015	)
Reinstatement premiums collected (expensed) on catastrophe losses			-			-			-			-			-		-			-
Catastrophe losses, gross of related adjustments			(488	)		(308	)		(36	)		(183	)		-		-			(1,015	)
PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			192			116			28			150			15		(102	)		399
Net premiums earned adjustments on PPD - unfavorable (favorable)			8			-			39			-			-		-			47
Expense adjustments - unfavorable (favorable)			7			-			3			-			-		-			10
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			-			1		-			1
PPD, gross of related adjustments - favorable (unfavorable)			207			116			70			150			16		(102	)		457
CAY loss and loss expense ex Cats	B	$	5,968		$	1,583		$	626		$	3,256		$	308	$	1		$	11,742
Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	2,003		$	773		$	71		$	2,344		$	181	$	206		$	5,578
Expense adjustments - favorable (unfavorable)			(7	)		-			(3	)		-			-		-			(10	)
CAY policy acquisition costs and administrative expenses	D	$	1,996		$	773		$	68		$	2,344		$	181	$	206		$	5,568
Denominator
Net premiums earned	E	$	9,780		$	2,983		$	754		$	6,545		$	634				$	20,696
Reinstatement premiums (collected) expensed on catastrophe losses			-			-			-			-			-					-
Net premiums earned adjustments on PPD - unfavorable (favorable)			8			-			39			-			-					47
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			-			1					1
Net premiums earned excluding adjustments	F	$	9,788		$	2,983		$	793		$	6,545		$	635				$	20,744
P&C combined ratio
Loss and loss expense ratio	A/E		63.9%			59.5%			78.6%			50.3%			46.0%					59.4%
Policy acquisition cost and administrative expense ratio	C/E		20.5%			25.9%			9.3%			35.8%			28.6%					27.0%
P&C combined ratio			84.4%			85.4%			87.9%			86.1%			74.6%					86.4%
CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		61.0%			53.1%			79.0%			49.7%			48.3%					56.6%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		20.4%			25.9%			8.5%			35.9%			28.7%					26.8%
CAY P&C combined ratio ex Cats			81.4%			79.0%			87.5%			85.6%			77.0%					83.4%
Combined ratio
Combined ratio																				86.4%
Add: impact of gains and losses on crop derivatives																				0.0%
P&C combined ratio																				86.4%

Note: The ratios above are calculated using whole U.S. dollars. Accordingly, calculations using rounded amounts may differ. Letters A, B, C, D, E, and F included in the table are references for calculating the ratios above.

Reconciliation Non-GAAP 5 Page 31

Chubb Limited

Non-GAAP Financial Measures - 6

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio (continued)

Q2 2023		North America Commercial P&C Insurance			North America Personal P&C Insurance			North America Agricultural Insurance			Overseas General Insurance			Global Reinsurance			Corporate			Total P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	2,871		$	846		$	512		$	1,404		$	91		$	61		$	5,785
Realized (gains) losses on crop derivatives			-			-			(5	)		-			-			-			(5	)
Adjusted losses and loss expenses/policy benefits	A	$	2,871		$	846		$	507		$	1,404		$	91		$	61		$	5,780
Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(231	)		(147	)		5			(26	)		(1	)		-			(400	)
Reinstatement premiums collected (expensed) on catastrophe losses			-			-			-			-			-			-			-
Catastrophe losses, gross of related adjustments			(231	)		(147	)		5			(26	)		(1	)		-			(400	)
PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			146			33			3			61			17			(60	)		200
Net premiums earned adjustments on PPD - unfavorable (favorable)			12			-			(2	)		-			-			-			10
Expense adjustments - unfavorable (favorable)			4			-			-			-			-			-			4
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			-			6			-			6
PPD, gross of related adjustments - favorable (unfavorable)			162			33			1			61			23			(60	)		220
CAY loss and loss expense ex Cats	B	$	2,802		$	732		$	513		$	1,439		$	113		$	1		$	5,600
Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	930		$	361		$	40		$	1,038		$	74		$	95		$	2,538
Expense adjustments - favorable (unfavorable)			(4	)		-			-			-			-			-			(4	)
CAY policy acquisition costs and administrative expenses	D	$	926		$	361		$	40		$	1,038		$	74		$	95		$	2,534
Denominator
Net premiums earned	E	$	4,606		$	1,357		$	635		$	2,908		$	237					$	9,743
Reinstatement premiums (collected) expensed on catastrophe losses			-			-			-			-			-						-
Net premiums earned adjustments on PPD - unfavorable (favorable)			12			-			(2	)		-			-						10
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			-			6						6
Net premiums earned excluding adjustments	F	$	4,618		$	1,357		$	633		$	2,908		$	243					$	9,759
P&C combined ratio
Loss and loss expense ratio	A/E		62.3%			62.4%			79.7%			48.3%			38.7%						59.3%
Policy acquisition cost and administrative expense ratio	C/E		20.2%			26.5%			6.5%			35.7%			30.9%						26.1%
P&C combined ratio			82.5%			88.9%			86.2%			84.0%			69.6%						85.4%
CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		60.7%			54.0%			80.9%			49.5%			46.7%						57.4%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		20.0%			26.5%			6.5%			35.7%			30.1%						25.9%
CAY P&C combined ratio ex Cats			80.7%			80.5%			87.4%			85.2%			76.8%						83.3%
Combined ratio
Combined ratio																					85.4%
Add: impact of gains and losses on crop derivatives																					0.0%
P&C combined ratio																					85.4%

Note: The ratios above are calculated using whole U.S. dollars. Accordingly, calculations using rounded amounts may differ. Letters A, B, C, D, E, and F included in the table are references for calculating the ratios above.

Reconciliation Non-GAAP 6 Page 32

Chubb Limited

Non-GAAP Financial Measures - 7

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio (continued)

YTD 2023		North America Commercial P&C Insurance			North America Personal P&C Insurance			North America Agricultural Insurance			Overseas General Insurance			Global Reinsurance			Corporate			Total P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	5,600		$	1,734		$	651		$	2,751		$	203		$	72		$	11,011
Realized (gains) losses on crop derivatives			-			-			(4	)		-			-			-			(4	)
Adjusted losses and loss expenses/policy benefits	A	$	5,600		$	1,734		$	647		$	2,751		$	203		$	72		$	11,007
Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(393	)		(306	)		(19	)		(139	)		(1	)		-			(858	)
Reinstatement premiums collected (expensed) on catastrophe losses			-			-			-			-			-			-			-
Catastrophe losses, gross of related adjustments			(393	)		(306	)		(19	)		(139	)		(1	)		-			(858	)
PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			218			16			3			204			25			(70	)		396
Net premiums earned adjustments on PPD - unfavorable (favorable)			12			-			(2	)		-			-			-			10
Expense adjustments - unfavorable (favorable)			7			-			-			-			-			-			7
PPD reinstatement premiums - unfavorable (favorable)			-			(1	)		-			-			6			-			5
PPD, gross of related adjustments - favorable (unfavorable)			237			15			1			204			31			(70	)		418
CAY loss and loss expense ex Cats	B	$	5,444		$	1,443		$	629		$	2,816		$	233		$	2		$	10,567
Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	1,838		$	712		$	58		$	2,031		$	145		$	192		$	4,976
Expense adjustments - favorable (unfavorable)			(7	)		-			-			-			-			-			(7	)
CAY policy acquisition costs and administrative expenses	D	$	1,831		$	712		$	58		$	2,031		$	145		$	192		$	4,969
Denominator
Net premiums earned	E	$	8,975		$	2,677		$	794		$	5,694		$	481					$	18,621
Reinstatement premiums (collected) expensed on catastrophe losses			-			-			-			-			-						-
Net premiums earned adjustments on PPD - unfavorable (favorable)			12			-			(2	)		-			-						10
PPD reinstatement premiums - unfavorable (favorable)			-			(1	)		-			-			6						5
Net premiums earned excluding adjustments	F	$	8,987		$	2,676		$	792		$	5,694		$	487					$	18,636
P&C combined ratio
Loss and loss expense ratio	A/E		62.4%			64.8%			81.5%			48.3%			42.3%						59.1%
Policy acquisition cost and administrative expense ratio	C/E		20.5%			26.6%			7.3%			35.7%			30.1%						26.7%
P&C combined ratio			82.9%			91.4%			88.8%			84.0%			72.4%						85.8%
CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		60.6%			53.9%			79.4%			49.5%			47.8%						56.7%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		20.3%			26.6%			7.3%			35.6%			29.8%						26.7%
CAY P&C combined ratio ex Cats			80.9%			80.5%			86.7%			85.1%			77.6%						83.4%
Combined ratio
Combined ratio																					85.8%
Add: impact of gains and losses on crop derivatives																					0.0%
P&C combined ratio																					85.8%

Note: The ratios above are calculated using whole U.S. dollars. Accordingly, calculations using rounded amounts may differ. Letters A, B, C, D, E, and F included in the table are references for calculating the ratios above.

Reconciliation Non-GAAP 7 Page 33

Chubb Limited

Glossary

Chubb Limited Consolidated comprises all segments including Corporate.

Total P&C comprises all segments (including Corporate) except the Life Insurance segment.

Global P&C comprises all segments (including Corporate) except the Life Insurance and North America Agricultural segments.

P&C combined ratio: The sum of the loss and loss expense ratio, policy acquisition cost ratio and the administrative expense ratio excluding the Life insurance segment and including the realized gains and losses on the crop derivatives.

Book value per common share: Chubb shareholders’ equity divided by the shares outstanding.

Tangible book value per common share: Chubb shareholders’ equity less Chubb goodwill and other intangible assets, net of tax, divided by the shares outstanding.

Average market yield of fixed income investments: Weighted average yield based on the current market value of our fixed maturities and other debt investments.

Average book yield of fixed income investments: Weighted average yield based on the amortized cost of our fixed maturities and other debt investments.

Total capitalization: The sum of the short-term debt, long-term debt, trust preferreds, and Chubb shareholders’ equity.

Cigna integration expenses: Cigna integration expenses comprise legal and professional fees and all other costs directly related to the integration activities primarily of the Cigna acquisition. Cigna integration expenses are incurred by the overall company and are therefore included in Corporate. These costs are not related to the on-going business activities of the segments and are therefore excluded from our definition of segment income.

Catastrophe losses (Cats): We generally define catastrophe loss events consistent with the definition of the Property Claims Service (PCS) for events in the U.S. and Canada. PCS defines a catastrophe as an event that causes damage of $25 million or more in insured losses and affects a significant number of insureds. For events outside of the U.S. and Canada, we generally use a similar definition. Catastrophe loss events are events that occurred in the current calendar year only. Changes in catastrophe loss estimates in the current calendar year that relate to loss events that occurred in previous calendar years are considered prior period development.

Prior period development (PPD) arises from changes to loss estimates recognized in the current year that relate to loss events that occurred in previous calendar years and excludes the effect of losses from the development of earned premium from previous accident years.

Reinstatement premiums are additional premiums paid on certain reinsurance agreements in order to reinstate coverage that had been exhausted by loss occurrences. The reinstatement premium amount is typically a pro rata portion of the original ceded premium paid based on how much of the reinsurance limit had been exhausted.

Net premiums earned adjustments within prior period development are adjustments to the initial premium earned on retrospectively rated policies based on actual claim experience that develops after the policy period ends. The premium adjustments correlate to the prior period loss development on these same policies and are fully earned in the period the adjustments are recorded.

Prior period expense adjustments typically relate to either profit commission reserves or policyholder dividend reserves based on actual claim experience that develops after the policy period ends. The expense adjustments correlate to the prior period loss development on these same policies.

Segment income (loss) includes underwriting income (loss), adjusted net investment income, other income (expense) – operating, and amortization expense of purchased intangibles.

Non-premium revenues and expenses included in Other income and expense, principally pertain to the management of third-party assets by Huatai Asset Management Co., Ltd. (HAM) and Huatai Baoxing, which are unrelated to Huatai Group’s core insurance operations. These revenues and expenses are recognized in the period in which the services are performed.

NM: Not meaningful.

Glossary Page 34