Chubb Ltd — Director's Dealing 2011

Dec 7, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACE Ltd (ACE)
CIK: 0000896159
Period of Report: 2011-12-06

Reporting Person: GREENBERG EVAN G (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-06	Common Shares	M	2277	$43.90	Acquired	672258	Direct
2011-12-06	Common Shares	M	37723	$43.90	Acquired	709981	Direct
2011-12-06	Common Shares	S	28582	$70.09	Disposed	681399	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-06	Options to Acquire	$43.9	M	2277	Disposed	2012-02-28	Common Shares (2277)	Direct
2011-12-06	Options to Acquire	$43.9	M	37723	Disposed	2012-02-28	Common Shares (37723)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	18648	Indirect
Common Shares	18648	Indirect
Common Shares	154	Indirect
Common Shares	18247	Indirect

Footnotes

F1: The Common Shares sold by the Reporting Person and reported herein were sold at a range of between $70.02 and $70.15 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 stock options vested in equal installments on February 28, 2003, February 28, 2004 and February 28, 2005.

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