Exhibit 99.4

The	Modification of the Presentation of Losses	For the Six Months
Chubb	Incurred in the Property and Casualty	and Quarters Ended
Corporation	Underwriting Results	June 30, 2008 and 2007

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

THE CHUBB CORPORATION

Beginning in the third quarter of 2008, the “net losses paid” and “increase (decrease) in outstanding losses” amounts in the property and casualty underwriting results reflect the impact of foreign currency fluctuations differently than in the past.

The property and casualty underwriting results that follow this page reflect modification to previously reported net losses paid and increase (decrease) in outstanding losses. Since net losses paid and increase (decrease) in outstanding losses for each line of business and in total have been modified by offsetting amounts, incurred losses for each line of business and in total are unchanged.

Definitions of Key Terms

Underwriting Income (Loss)
Management evaluates underwriting results separately from investment results. The underwriting operations consist of four separate business units: personal insurance, commercial insurance, specialty insurance and reinsurance assumed. Performance of the business units is measured based on statutory underwriting results. Statutory accounting principles applicable to property and casualty insurance companies differ in certain respects from generally accepted accounting principles (GAAP). Under statutory accounting principles, policy acquisition and other underwriting expenses are recognized immediately, not at the time premiums are earned. Statutory underwriting income (loss) is arrived at by reducing premiums earned by losses and loss expenses incurred and statutory underwriting expenses incurred.

Management uses underwriting results determined in accordance with GAAP, among other measures, to assess the overall performance of the underwriting operations. To convert statutory underwriting results to a GAAP basis, policy acquisition expenses are deferred and amortized over the period in which the related premiums are earned. Underwriting income (loss) determined in accordance with GAAP is defined as premiums earned less losses and loss expenses incurred and GAAP underwriting expenses incurred.

Combined Loss and Expense Ratio or Combined Ratio
The combined loss and expense ratio, expressed as a percentage, is the key measure of underwriting profitability. Management uses the combined loss and expense ratio calculated in accordance with statutory accounting principles applicable to property and casualty insurance companies to evaluate the performance of the underwriting operations. It is the sum of the ratio of losses and loss expenses to premiums earned (loss ratio) plus the ratio of statutory underwriting expenses to premiums written (expense ratio) after reducing both premium amounts by dividends to policyholders.

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

	Personal												Other						Total
	Automobile						Homeowners						Personal						Personal
	2008			2007			2008			2007			2008			2007			2008			2007
Net Premiums Written	$	303		$	311		$	1,213		$	1,174		$	376		$	330		$	1,892		$	1,815
Increase (Decrease) in Unearned Premiums		(8	)		(18	)		(9	)		15			22			21			5			18
Net Premiums Earned		311			329			1,222			1,159			354			309			1,887			1,797
Net Losses Paid		191			208			547			532			192			140			930			880
Increase (Decrease) in Outstanding Losses		(2	)		(10	)		3			(3	)		38			50			39			37
Net Losses Incurred		189			198			550			529			230			190			969			917
Expenses Incurred		88			89			393			373			123			105			604			567
Dividends Incurred		—			—			—			—			—			—			—			—
Statutory Underwriting Income (Loss)	$	34		$	42		$	279		$	257		$	1		$	14		$	314		$	313
Ratios After Dividends to Policyholders:
Loss		60.8	%		60.2	%		45.0	%		45.6	%		65.0	%		61.5	%		51.4	%		51.1	%
Expense		29.0			28.6			32.4			31.8			32.7			31.8			31.9			31.2
Combined		89.8	%		88.8	%		77.4	%		77.4	%		97.7	%		93.3	%		83.3	%		82.3	%
Premiums Written as a % of Total		5.1	%		5.2	%		20.3	%		19.8	%		6.3	%		5.6	%		31.7	%		30.6	%

Page 1 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

													Commercial						Commercial
	Commercial						Commercial						Workers’						Property						Total
	Multiple Peril						Casualty						Compensation						and Marine						Commercial
	2008			2007			2008			2007			2008			2007			2008			2007			2008			2007
Net Premiums Written	$	607		$	613		$	896		$	897		$	461		$	481		$	677		$	626		$	2,641		$	2,617
Increase (Decrease) in Unearned Premiums		(21	)		(20	)		32			33			21			23			61			23			93			59
Net Premiums Earned		628			633			864			864			440			458			616			603			2,548			2,558
Net Losses Paid		284			305			392			398			198			174			294			282			1,168			1,159
Increase (Decrease) in Outstanding Losses		(12	)		10			164			167			43			62			156			37			351			276
Net Losses Incurred		272			315			556			565			241			236			450			319			1,519			1,435
Expenses Incurred		216			216			249			251			103			105			232			222			800			794
Dividends Incurred		—			—			—			—			17			7			—			—			17			7
Statutory Underwriting Income (Loss)	$	140		$	102		$	59		$	48		$	79		$	110		$	(66	)	$	62		$	212		$	322
Ratios After Dividends to Policyholders:
Loss		43.3	%		49.8	%		64.3	%		65.4	%		57.0	%		52.3	%		73.0	%		52.9	%		60.0	%		56.3	%
Expense		35.6			35.2			27.8			28.0			23.2			22.2			34.3			35.5			30.5			30.4
Combined		78.9	%		85.0	%		92.1	%		93.4	%		80.2	%		74.5	%		107.3	%		88.4	%		90.5	%		86.7	%
Premiums Written as a % of Total		10.1	%		10.3	%		15.0	%		15.1	%		7.7	%		8.2	%		11.3	%		10.6	%		44.1	%		44.2	%

Page 2 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

	Professional												Total
	Liability						Surety						Specialty
	2008			2007			2008			2007			2008			2007
Net Premiums Written	$	1,230		$	1,246		$	184		$	178		$	1,414		$	1,424
Increase (Decrease) in Unearned Premiums		(88	)		(74	)		14			24			(74	)		(50	)
Net Premiums Earned		1,318			1,320			170			154			1,488			1,474
Net Losses Paid		705			665			26			5			731			670
Increase (Decrease) in Outstanding Losses		58			120			58			(1	)		116			119
Net Losses Incurred		763			785			84			4			847			789
Expenses Incurred		319			315			58			52			377			367
Dividends Incurred		—			—			1			1			1			1
Statutory Underwriting Income (Loss)	$	236		$	220		$	27		$	97		$	263		$	317
Ratios After Dividends to Policyholders:
Loss		57.9	%		59.5	%		49.7	%		2.6	%		56.9	%		53.6	%
Expense		25.9			25.3			31.7			29.4			26.7			25.8
Combined		83.8	%		84.8	%		81.4	%		32.0	%		83.6	%		79.4	%
Premiums Written as a % of Total		20.5	%		21.0	%		3.1	%		3.0	%		23.6	%		24.0	%

Page 3 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

	Total						Reinsurance						Worldwide
	Insurance						Assumed						Total
	2008			2007			2008			2007			2008			2007
Net Premiums Written	$	5,947		$	5,856		$	36		$	69		$	5,983		$	5,925
Increase (Decrease) in Unearned Premiums		24			27			(3	)		(51	)		21			(24	)
Net Premiums Earned		5,923			5,829			39			120			5,962			5,949
Net Losses Paid		2,829			2,709			84			126			2,913			2,835
Increase (Decrease) in Outstanding Losses		506			432			(86	)		(115	)		420			317
Net Losses Incurred		3,335			3,141			(2	)		11			3,333			3,152
Expenses Incurred		1,781			1,728			17			47			1,798			1,775
Dividends Incurred		18			8			—			—			18			8
Statutory Underwriting Income (Loss)	$	789		$	952		$	24		$	62			813			1,014
Increase in Deferred Acquisition Costs														36			53
GAAP Underwriting Income													$	849		$	1,067
Ratios After Dividends to Policyholders:
Loss		56.5	%		54.0	%		*	%		*	%		56.1	%		53.1	%
Expense		30.0			29.5			*			*			30.1			30.0
Combined		86.5	%		83.5	%		*	%		*	%		86.2	%		83.1	%
Premiums Written as a % of Total		99.4	%		98.8	%		0.6	%		1.2	%		100.0	%		100.0	%

* Combined, loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

Page 4 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

							Outside
							the						Worldwide
	United States						United States						Total
	2008			2007			2008			2007			2008			2007
Net Premiums Written	$	4,479		$	4,592		$	1,504		$	1,333		$	5,983		$	5,925
Increase (Decrease) in Unearned Premiums		(43	)		(76	)		64			52			21			(24	)
Net Premiums Earned		4,522			4,668			1,440			1,281			5,962			5,949
Net Losses Paid		2,305			2,339			608			496			2,913			2,835
Increase (Decrease) in Outstanding Losses		340			153			80			164			420			317
Net Losses Incurred		2,645			2,492			688			660			3,333			3,152
Expenses Incurred		1,262			1,307			536			468			1,798			1,775
Dividends Incurred		18			8			—			—			18			8
Statutory Underwriting Income (Loss)	$	597		$	861		$	216		$	153			813			1,014
Increase in Deferred Acquisition Costs														36			53
GAAP Underwriting Income													$	849		$	1,067
Ratios After Dividends to Policyholders:
Loss		58.7	%		53.5	%		47.8	%		51.5	%		56.1	%		53.1	%
Expense		28.3			28.5			35.6			35.1			30.1			30.0
Combined		87.0	%		82.0	%		83.4	%		86.6	%		86.2	%		83.1	%
Premiums Written as a % of Total		74.9	%		77.5	%		25.1	%		22.5	%		100.0	%		100.0	%

Page 5 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

	Personal												Other						Total
	Automobile						Homeowners						Personal						Personal
	2008			2007			2008			2007			2008			2007			2008			2007
Net Premiums Written	$	161		$	164		$	674		$	654		$	180		$	157		$	1,015		$	975
Increase (Decrease) in Unearned Premiums		6			—			61			70			1			2			68			72
Net Premiums Earned		155			164			613			584			179			155			947			903
Net Losses Paid		87			99			279			290			109			61			475			450
Increase (Decrease) in Outstanding Losses		4			(9	)		(9	)		19			12			32			7			42
Net Losses Incurred		91			90			270			309			121			93			482			492
Expenses Incurred		45			45			209			202			61			53			315			300
Dividends Incurred		—			—			—			—			—			—			—			—
Statutory Underwriting Income (Loss)	$	19		$	29		$	134		$	73		$	(3	)	$	9		$	150		$	111
Ratios After Dividends to Policyholders:
Loss		58.7	%		54.9	%		44.1	%		52.9	%		67.6	%		60.0	%		50.9	%		54.5	%
Expense		28.0			27.4			31.0			30.9			33.9			33.8			31.0			30.8
Combined		86.7	%		82.3	%		75.1	%		83.8	%		101.5	%		93.8	%		81.9	%		85.3	%
Premiums Written as a % of Total		5.3	%		5.4	%		22.1	%		21.4	%		5.9	%		5.1	%		33.3	%		31.9	%

Page 6 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

													Commercial						Commercial
	Commercial						Commercial						Workers’						Property						Total
	Multiple Peril						Casualty						Compensation						and Marine						Commercial
	2008			2007			2008			2007			2008			2007			2008			2007			2008			2007
Net Premiums Written	$	312		$	306		$	436		$	456		$	213		$	224		$	340		$	325		$	1,301		$	1,311
Increase (Decrease) in Unearned Premiums		2			(7	)		7			21			(10	)		(6	)		20			22			19			30
Net Premiums Earned		310			313			429			435			223			230			320			303			1,282			1,281
Net Losses Paid		144			147			230			175			99			89			140			138			613			549
Increase (Decrease) in Outstanding Losses		(7	)		13			46			105			15			20			138			12			192			150
Net Losses Incurred		137			160			276			280			114			109			278			150			805			699
Expenses Incurred		110			109			120			128			50			53			114			111			394			401
Dividends Incurred		—			—			—			—			9			3			—			—			9			3
Statutory Underwriting Income (Loss)	$	63		$	44		$	33		$	27		$	50		$	65		$	(72	)	$	42		$	74		$	178
Ratios After Dividends to Policyholders:
Loss		44.2	%		51.1	%		64.4	%		64.4	%		53.3	%		48.0	%		86.9	%		49.5	%		63.2	%		54.7	%
Expense		35.3			35.6			27.5			28.0			24.5			24.0			33.5			34.2			30.5			30.7
Combined		79.5	%		86.7	%		91.9	%		92.4	%		77.8	%		72.0	%		120.4	%		83.7	%		93.7	%		85.4	%
Premiums Written as a % of Total		10.2	%		10.0	%		14.3	%		14.9	%		7.0	%		7.3	%		11.2	%		10.7	%		42.7	%		42.9	%

Page 7 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

	Professional												Total
	Liability						Surety						Specialty
	2008			2007			2008			2007			2008			2007
Net Premiums Written	$	626		$	649		$	85		$	94		$	711		$	743
Increase (Decrease) in Unearned Premiums		(24	)		(8	)		(3	)		18			(27	)		10
Net Premiums Earned		650			657			88			76			738			733
Net Losses Paid		343			328			14			4			357			332
Increase (Decrease) in Outstanding Losses		39			40			69			(1	)		108			39
Net Losses Incurred		382			368			83			3			465			371
Expenses Incurred		158			159			29			27			187			186
Dividends Incurred		—			—			—			—			—			—
Statutory Underwriting Income (Loss)	$	110		$	130		$	(24	)	$	46		$	86		$	176
Ratios After Dividends to Policyholders:
Loss		58.8	%		56.0	%		94.3	%		4.0	%		63.0	%		50.6	%
Expense		25.2			24.5			34.1			28.7			26.3			25.0
Combined		84.0	%		80.5	%		128.4	%		32.7	%		89.3	%		75.6	%
Premiums Written as a % of Total		20.5	%		21.2	%		2.8	%		3.1	%		23.3	%		24.3	%

Page 8 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

	Total						Reinsurance						Worldwide
	Insurance						Assumed						Total
	2008			2007			2008			2007			2008			2007
Net Premiums Written	$	3,027		$	3,029		$	20		$	29		$	3,047		$	3,058
Increase (Decrease) in Unearned Premiums		60			112			1			(18	)		61			94
Net Premiums Earned		2,967			2,917			19			47			2,986			2,964
Net Losses Paid		1,445			1,331			52			75			1,497			1,406
Increase (Decrease) in Outstanding Losses		307			231			(55	)		(65	)		252			166
Net Losses Incurred		1,752			1,562			(3	)		10			1,749			1,572
Expenses Incurred		896			887			8			18			904			905
Dividends Incurred		9			3			—			—			9			3
Statutory Underwriting Income (Loss)	$	310		$	465		$	14		$	19			324			484
Increase in Deferred Acquisition Costs														23			56
GAAP Underwriting Income													$	347		$	540
Ratios After Dividends to Policyholders:
Loss		59.2	%		53.6	%		*	%		*	%		58.7	%		53.1	%
Expense		29.7			29.3			*			*			29.8			29.6
Combined		88.9	%		82.9	%		*	%		*	%		88.5	%		82.7	%
Premiums Written as a % of Total		99.3	%		99.1	%		0.7	%		0.9	%		100.0	%		100.0	%

* Combined, loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

Page 9 of 10

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2008 AND 2007
(DOLLARS IN MILLIONS)

							Outside
							the						Worldwide
	United States						United States						Total
	2008			2007			2008			2007			2008			2007
Net Premiums Written	$	2,344		$	2,426		$	703		$	632		$	3,047		$	3,058
Increase (Decrease) in Unearned Premiums		89			107			(28	)		(13	)		61			94
Net Premiums Earned		2,255			2,319			731			645			2,986			2,964
Net Losses Paid		1,165			1,172			332			234			1,497			1,406
Increase (Decrease) in Outstanding Losses		230			40			22			126			252			166
Net Losses Incurred		1,395			1,212			354			360			1,749			1,572
Expenses Incurred		648			684			256			221			904			905
Dividends Incurred		9			3			—			—			9			3
Statutory Underwriting Income (Loss)	$	203		$	420		$	121		$	64			324			484
Increase in Deferred Acquisition Costs														23			56
GAAP Underwriting Income													$	347		$	540
Ratios After Dividends to Policyholders:
Loss		62.1	%		52.3	%		48.4	%		55.8	%		58.7	%		53.1	%
Expense		27.8			28.2			36.4			35.0			29.8			29.6
Combined		89.9	%		80.5	%		84.8	%		90.8	%		88.5	%		82.7	%
Premiums Written as a % of Total		76.9	%		79.3	%		23.1	%		20.7	%		100.0	%		100.0	%

Page 10 of 10