Chubb Ltd — Director's Dealing 2014

May 6, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACE Ltd (ACE)
CIK: 0000896159
Period of Report: 2014-05-05

Reporting Person: BANCROFT PHILIP V (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-05	Common Shares	M	21000	$44.48	Acquired	270922	Direct
2014-05-05	Common Shares	S	18752	$102.16	Disposed	252170	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-05	Options to Acquire Common Shares	$44.48	M	21000	Disposed	2015-02-23	Common Shares (21000)	Direct

Footnotes

F1: The Common Shares reported herein being sold were sold at a range of $102.015 and $102.27 per share. The share price reported above represents the weighted average sale price of the reported transaction and has been rounded to the nearest cent.

F2: Options vested as follows: 1/3rd on 2/23/2006, 1/3rd on 2/23/2007 and 1/3rd on 2/23/2008.

F3: All options of this tranche have been exercised. Total includes options from other tranches with different exercise prices, vesting dates and expiration dates.