Chubb Ltd — Director's Dealing 2011

May 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACE Ltd (ACE)
CIK: 0000896159
Period of Report: 2011-04-28

Reporting Person: Dowd Brian Edward (Vice Chairman; Chairman,*)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-28	Common Shares	M	1781	$56.14	Acquired	187294.79	Direct
2011-04-28	Common Shares	M	1773	$56.40	Acquired	189067.79	Direct
2011-04-28	Common Shares	M	2248	$44.48	Acquired	191315.79	Direct
2011-04-28	Common Shares	M	2421	$43.9	Acquired	193736.79	Direct
2011-04-28	Common Shares	M	2277	$43.9	Acquired	196013.79	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-28	Options to Acquire	$56.14	M	1781	Disposed	2017-02-28	Common Shares (1781)	Direct
2011-04-28	Options to Acquire	$56.4	M	1773	Disposed	2016-02-22	Common Shares (1773)	Direct
2011-04-28	Options to Acquire	$44.48	M	2248	Disposed	2015-02-23	Common Shares (2248)	Direct
2011-04-28	Options to Acquire	$43.9	M	2421	Disposed	2012-02-28	Common Shares (2421)	Direct
2011-04-28	Options to Acquire	$43.9	M	2277	Disposed	2012-02-28	Common Shares (2277)	Direct

Footnotes

F1: The stock options vested in equal installments on February 28, 2008, February 28, 2009 and February 28, 2010.

F2: The stock options vested in equal installments on February 22, 2007, February 22, 2008 and February 22, 2009.

F3: The stock options vested in equal installments on February 23, 2006, February 23, 2007 and February 23, 2008.

F4: The stock options vested on February 28, 2007.

F5: The stock options vested on February 28, 2005.

F6: Total includes options from other tranches with different exercise prices, vesting dates and expiration dates.