2018 Guide to Effective Proxies

2.17.4 Compensation mix | 325 6 TH EDITION | GUIDE TO EFFECTIVE PROXIES Proxy Summary How Our Compensation Program Works What We Reward • Superior operating and financial performance, as measured against our peers, prior year performance and Board-approved plan • Achievement of strategic goals • Superior underwriting and risk management in all our business activities How We Link Pay to Performance • Core link: Performance measured across 4 key metrics , against peers, prior year performance and Board-approved plan —Tangible book value per share growth —Core operating return on equity —Core operating income —P&C combined ratio • TSR modifier • Consideration of strategic achievements, including execution of key non-financial objectives How We Paid $18.7 million CEO total pay • Down 6% vs. 2016 • Down 17% for annual cash incentive Other NEO total pay • Down 7% on average vs. 2016 These decisions reflect the outstanding execution of Chubb’s long-term strategy while acknowledging the impact natural catastrophes had on financial performance. Compensation Profile Approximately 93 percent of our CEO’s and 85 percent of our other NEO’s total direct compensation is variable or “at-risk.” CEO Total Direct Compensation PerformanceShares 56% StockOptions 25% RestrictedStock 19% Long-Term Incentive/Equity 63% Short-Term Incentive/Cash 30% At-RiskPay 93% BaseSalary 7% Other NEOs Total Direct Compensation PerformanceShares 47% StockOptions 25% RestrictedStock 28% Long-Term Incentive/Equity 53% Short-Term Incentive/Cash 32% At-RiskPay 85% BaseSalary 15% 8 Chubb Limited 2018 Proxy Statement CHUBB LIMITED