Chubb Ltd — Director's Dealing 2011

Feb 10, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACE Ltd (ACE)
CIK: 0000896159
Period of Report: 2011-02-09

Reporting Person: BANCROFT PHILIP V (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-09	Common Shares	M	37200	$38.45	Acquired	212822	Direct
2011-02-09	Common Shares	S	37200	$64.21	Disposed	175622	Direct
2011-02-09	Common Shares	M	7800	$38.45	Acquired	183422	Direct
2011-02-09	Common Shares	M	7255	$27.57	Acquired	190677	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-09	Options to Acquire	$38.45	M	37200	Disposed	2011-12-03	Common Shares (37200)	Direct
2011-02-09	Options to Acquire	$38.45	M	7800	Disposed	2011-12-03	Common Shares (7800)	Direct
2011-02-09	Options to Acquire	$27.57	M	7255	Disposed	2013-02-27	Common Shares (7255)	Direct

Footnotes

F1: The Common Shares sold by the Reporting Person and reported herein were sold at a range of between $64.20 and $64.23 per share. The sale price reported above represents the weighted average sale price for the reported transaction and has been rounded to the nearest cent.

F2: The options vested as follows: 1/3 on the first anniversary date of the award, 1/3 on the second anniversary date of the award and 1/3 on the third anniversary date of the award.

F3: Total includes options from other tranches with different exercise prices, vesting dates and expiration dates.