8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 21, 2010

THE CHUBB CORPORATION

(Exact name of registrant as specified in its charter)

New Jersey	1-8661	13-2595722
(State or other jurisdiction of	(Commission	(IRS Employer
incorporation)	File Number)	Identification No.)

15 Mountain View Road, Warren, New Jersey	07059
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (908) 903-2000

Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Item 2.02 Results of Operations and Financial Condition

Item 9.01 Financial Statements and Exhibits

Signatures

Exhibit Index to Current Report on Form 8-K filed on October 21, 2010

Press Release dated October 21, 2010 (furnished pursuant to Item 2.02 of Form 8-K)

Supplementary Investor Information Report relating to results for the quarter and nine months ended September 30, 2010 (furnished pursuant to Item 2.02 of Form 8-K)

Revised Supplementary Investor Information Report relating to results for the quarter ended March 31, 2010 (furnished pursuant to Item 2.02 of Form 8-K)

Revised Supplementary Investor Information Report relating to results for the six months ended June 30, 2010 (furnished pursuant to Item 2.02 of Form 8-K)

Item 2.02 Results of Operations and Financial Condition.

(a)

The following information, including the text of the exhibits attached hereto, is furnished pursuant to Item 2.02 of Form 8-K. On October 21, 2010, The Chubb Corporation (Chubb) issued a press release announcing its financial results for the quarter and nine months ended September 30, 2010. On October 21, 2010, Chubb also posted on its web site at www.chubb.com the Supplementary Investor Information Report (SIIR) relating to its results for the quarter and nine months ended September 30, 2010. Copies of the press release and the SIIR, both of which are incorporated by reference into this Item 2.02 as if fully set forth herein, are attached to this Form 8-K as Exhibits 99.1 and 99.2, respectively. In its press release, the SIIR and the conference call to discuss its results for the periods ended September 30, 2010, scheduled to be webcast at 5:00 P.M. on October 21, 2010, Chubb presents, and will present, its results of operations in the manner that it believes is most meaningful to investors, which includes certain measures that are not based on accounting principles generally accepted in the United States.

Chubb has also posted to its web site revised Supplementary Investor Information Reports relating to its results for the quarter ended March 31, 2010 and for the six months ended June 30, 2010. Copies of the revised Supplementary Investor Information Reports, both of which are incorporated by reference into this Item 2.02 as if fully set forth herein, are attached to this Form 8-K as Exhibits 99.3 and 99.4, respectively. Certain amounts have been revised from those originally reported to reflect a reclassification between the United States results and the Outside the United States results. The reclassification had no impact on Worldwide Total results.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1	Press release dated October 21, 2010 (furnished pursuant to Item 2.02 of Form 8-K)
99.2	Supplementary Investor Information Report — September 30, 2010 (furnished pursuant to Item 2.02 of Form 8-K)
99.3	Revised Supplementary Investor Information Report — March 31, 2010 (furnished pursuant to Item 2.02 of Form 8-K)
99.4	Revised Supplementary Investor Information Report — June 30, 2010 (furnished pursuant to Item 2.02 of Form 8-K)

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	THE CHUBB CORPORATION
Date: October 21, 2010	By:	/s/ John J. Kennedy
		Name:	John J. Kennedy
		Title:	Senior Vice President and Chief Accounting Officer

EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
FILED ON OCTOBER 21, 2010

Exhibit No.	Description
99.1	Press release dated October 21, 2010 (furnished pursuant to Item 2.02 of Form 8-K)
99.2	Supplementary Investor Information Report — September 30, 2010 (furnished pursuant to Item 2.02 of Form 8-K)
99.3	Revised Supplementary Investor Information Report — March 31, 2010 (furnished pursuant to Item 2.02 of Form 8-K)
99.4	Revised Supplementary Investor Information Report — June 30, 2010 (furnished pursuant to Item 2.02 of Form 8-K)

EX-99.1

Exhibit 99.1

News from The Chubb Corporation

The Chubb Corporation

15 Mountain View Road • P.O. Box 1615

Warren, New Jersey 07061-1615

Telephone: 908-903-2000

FOR IMMEDIATE RELEASE

Chubb Reports Third Quarter Net Income per Share of $1.80;
Operating Income per Share Increases 8% to $1.69;
Combined Ratio Is 86.2%

2010 Operating Income per Share Guidance
Is Increased to Range of $5.75 to $5.85

     WARREN, New Jersey, October 21, 2010 — The Chubb Corporation [NYSE: CB] today reported that net income in the third quarter of 2010 was $572 million or $1.80 per share, compared to $596 million or $1.69 per share in the third quarter of 2009.

     Average diluted shares outstanding for the third quarter were 317.3 million in 2010 and 353.5 million in 2009.

     Operating income, which the company defines as net income excluding after-tax realized investment gains and losses, was $537 million in the third quarter of 2010 compared to $552 million in the third quarter of 2009. Operating income per share increased 8% to $1.69 from $1.56.

     The impact of catastrophes in the third quarter of 2010 was $58 million pre-tax, compared with $22 million pre-tax in the third quarter of 2009. The impact of catastrophes on third quarter net income and operating income per share was $0.12 in 2010 and $0.04 in 2009.

     Net written premiums for the third quarter of 2010 were up 1% to $2.7 billion. Foreign currency translation did not have a significant effect on premiums, which were flat in the U.S. and up 6% outside the U.S. (up 4% in local currencies).

     The third quarter combined loss and expense ratio was 86.2% in 2010, compared to 85.4% in 2009. The impact of catastrophes in the third quarter of 2010 accounted for 2.1 percentage points of the combined ratio, compared to 0.8 points in the third quarter of 2009. Excluding catastrophes, the combined ratio for the third quarter improved to 84.1% in 2010 from 84.6% in 2009.

     The expense ratio for the third quarter was 31.7% in 2010 and 31.2% in 2009.

     Property and casualty investment income after taxes for the third quarter was $317 million, unchanged from 2009.

     Net income for the third quarter of 2010 reflected net realized investment gains of $54 million pre-tax ($0.11 per share after-tax), compared to $69 million pre-tax ($0.13 per share after-tax) in the third quarter of 2009.

     During the third quarter, Chubb repurchased 10.2 million shares of its common stock at a total cost of $555 million (an average cost of $54.63 per share). As of September 30, 2010, there were 6.6 million shares of common stock remaining under the current repurchase authorization.

     “In the third quarter, Chubb again demonstrated the ability to generate outstanding profitability and book value growth during a period of challenging economic and industry conditions,” said John D. Finnegan, Chairman, President and Chief Executive Officer. “By continuing our focus on the bottom line and maintaining our discipline in risk selection and pricing, all three business units produced excellent results.

     “Based on these results for the third quarter and our favorable outlook for the fourth quarter, we are increasing our 2010 full-year operating income per share guidance to a range of $5.75 to $5.85 from the previous guidance range of $5.15 to $5.55. This revised guidance is based on operating income per share of $4.22 in the first nine months and our forecast of a range of $1.53 to $1.63 for the fourth quarter,” said Mr. Finnegan.

     The revised guidance for 2010 operating income per share assumes an impact from catastrophes of 2 percentage points in the fourth quarter, resulting in an assumed impact of catastrophes for the year of 5.8 points, compared to the assumption of 7 points in the previous guidance. The revised guidance assumes 322 million average diluted shares outstanding for the year.

     Guidance and related assumptions are subject to the risks outlined in the company’s forward-looking information safe harbor statement below.

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Nine-Month Results

     For the first nine months of 2010, net income was $1.6 billion or $4.76 per share, compared with $1.5 billion or $4.18 per share for the first nine months of 2009.

     Operating income for the first nine months was $1.4 billion ($4.22 per share) in 2010 and $1.6 billion ($4.49 per share) in 2009.

     The impact of catastrophes in the first nine months of 2010 was $595 million pre-tax, compared with $91 million pre-tax in the first nine months of 2009. The impact of catastrophes on net income and operating income per share for the first nine months was $1.19 in 2010 and $0.17 in 2009. The impact of catastrophes includes losses and loss expenses net of reinsurance recoverable and also includes reinsurance reinstatement premiums.

     Net written premiums for the first nine months of 2010 increased 1% to $8.4 billion. Excluding the effect of foreign currency translation, premiums were down approximately 1%. Premiums declined 2% in the U.S. and increased 11% outside the U.S. (increased 3% in local currencies).

     The combined ratio for the first nine months was 90.1% in 2010, compared to 86.5% in 2009. The impact of catastrophes in the first nine months accounted for 7.1 percentage points of the combined ratio in 2010 and 1.1 points in 2009. Excluding the impact of catastrophes, the combined ratio for the first nine months improved to 83.0% in 2010 from 85.4% in 2009.

     The expense ratio for the first nine months was 31.3% in 2010 and 30.7% in 2009.

     Property and casualty investment income after taxes for the first nine months increased 1% to $941 million in 2010 from $935 million in 2009.

     Net income for the first nine months of 2010 reflects net realized investment gains of $271 million pre-tax ($0.54 per share after-tax). Net income for the first nine months of 2009 reflected net realized investment losses, including impairments, of $170 million pre-tax ($0.31 per share after-tax).

     During the first nine months of 2010, Chubb repurchased 29.6 million shares of its common stock at a total cost of $1.5 billion (an average cost of $51.94 per share).

3

Third Quarter Operations Review

     Chubb Personal Insurance (CPI) net written premiums increased 4% in the third quarter of 2010 to $980 million. CPI’s combined ratio for the quarter was 85.4%, compared to 81.6% in the third quarter of 2009. The impact of catastrophes in the third quarter of 2010 was 3.7 percentage points. In the third quarter of 2009, the impact of catastrophes improved the combined ratio by 1 percentage point.

     Net written premiums for Homeowners increased 2%, and the combined ratio was 81.0%. Personal Automobile net written premiums increased 7%, and the combined ratio was 91.7%. Other Personal lines premiums were up 7%, and the combined ratio was 94.2%.

     Chubb Commercial Insurance (CCI) net written premiums in the third quarter were flat at $1.1 billion. CCI’s combined ratio for the quarter was 89.1% in 2010 and 90.5% in 2009. The impact of catastrophes in the third quarter was 2.0 percentage points in 2010 and 2.6 points in 2009.

     Average third quarter renewal rates in the U.S. were down 1% for CCI, which retained 87% of the U.S. premiums that came up for renewal. In the U.S., the ratio of new to lost business was 1.2 to 1.

     Chubb Specialty Insurance (CSI) net written premiums in the third quarter were flat at $669 million. CSI’s combined ratio for the quarter was 83.3%, compared to 83.6% in the third quarter of 2009.

     Professional Liability (PL) net written premiums declined 1%, and the business had a combined ratio of 89.3%. Average third quarter renewal rates in the U.S. were down 2% for PL, which retained 88% of the U.S. premiums that came up for renewal. In the U.S., the ratio of new to lost business was 1.1 to 1.

     Surety net written premiums increased 7%, and the combined ratio was 40.0%.

Webcast Conference Call to be Held Today at 5 P.M.

     Chubb’s senior management will discuss the company’s third quarter performance with investors and analysts today, October 21st at 5 P.M. Eastern Daylight Time. The conference call will be webcast live on the Internet at http://www.chubb.com and archived later in the day for replay.

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     About Chubb

     Founded in 1882, the Chubb Group of Insurance Companies provides property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb’s global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.

     Chubb’s Supplementary Investor Information Report has been posted on its Internet site at http://www.chubb.com.

     All financial results in this release and attachments are unaudited.

For further information contact:	Investors:	Glenn A. Montgomery (908) 903-2365
	Media:	Mark E. Greenberg (908) 903-2682

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Definitions of Key Terms

Operating Income: Operating income, a non-GAAP financial measure, is net income excluding after-tax realized investment gains and losses. Management uses operating income, among other measures, to evaluate its performance because the realization of investment gains and losses in any given period is largely discretionary as to timing and can fluctuate significantly, which could distort the analysis of trends.

Underwriting Income (Loss): Management evaluates underwriting results separately from investment results. The underwriting operations consist of four separate business units: personal insurance, commercial insurance, specialty insurance and reinsurance assumed. Performance of the business units is measured based on statutory underwriting results. Statutory accounting principles applicable to property and casualty insurance companies differ in certain respects from generally accepted accounting principles (GAAP). Under statutory accounting principles, policy acquisition and other underwriting expenses are recognized immediately, not at the time premiums are earned. Statutory underwriting income (loss) is arrived at by reducing premiums earned by losses and loss expenses incurred and statutory underwriting expenses incurred.

Management uses underwriting results determined in accordance with GAAP, among other measures, to assess the overall performance of the underwriting operations. To convert statutory underwriting results to a GAAP basis, policy acquisition expenses are deferred and amortized over the period in which the related premiums are earned. Underwriting income (loss) determined in accordance with GAAP is defined as premiums earned less losses and loss expenses incurred and GAAP underwriting expenses incurred.

Property and Casualty Investment Income After Income Tax: Management uses property and casualty investment income after income tax, a non-GAAP financial measure, to evaluate its investment performance because it reflects the impact of any change in the proportion of the investment portfolio invested in tax exempt securities and is therefore more meaningful for analysis purposes than investment income before income tax.

Book Value per Common Share with Available-for-Sale Fixed Maturities at Amortized Cost: Book value per common share represents the portion of consolidated shareholders’ equity attributable to one share of common stock outstanding as of the balance sheet date. Consolidated shareholders’ equity includes, as part of accumulated other comprehensive income (loss), the after-tax appreciation or depreciation, including unrealized other-than-temporary impairment losses, of the Corporation’s available-for-sale fixed maturities, which are carried at fair value. The appreciation or depreciation of available-for-sale fixed maturities is subject to fluctuation due to changes in interest rates and therefore could distort the analysis of trends. Management believes that book value per common share with available-for-sale fixed maturities at amortized cost, a non-GAAP financial measure, is an important measure of the underlying equity attributable to one share of common stock.

Combined Loss and Expense Ratio or Combined Ratio: The combined loss and expense ratio, expressed as a percentage, is the key measure of underwriting profitability. Management uses the combined loss and expense ratio calculated in accordance with statutory accounting principles applicable to property and casualty insurance companies to evaluate the performance of the underwriting operations. It is the sum of the ratio of losses and loss expenses to premiums earned (loss ratio) plus the ratio of statutory underwriting expenses to premiums written (expense ratio) after reducing both premium amounts by dividends to policyholders.

Net Written Premiums Growth (Decrease) Excluding the Impact of Currency Fluctuation: Management uses net written premiums growth (decrease) excluding the impact of currency fluctuation, a non-GAAP financial measure, to evaluate the trends in net written premiums, exclusive of the effect of fluctuations in exchange rates between the U.S. dollar and the currencies in which our international business is transacted. In net written premiums growth (decrease) excluding the impact of currency fluctuation, the effect of fluctuations in the exchange rates is excluded as these rates may fluctuate significantly and could distort the analysis of trends. Net written premiums growth (decrease) excluding the impact of currency fluctuation is determined by using the same exchange rate to translate each foreign currency denominated net written premium amount in both periods.

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FORWARD-LOOKING INFORMATION

     Certain statements in this document are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 (PSLRA). Forward-looking statements are made pursuant to the safe harbor provisions of the PSLRA and include statements regarding management’s 2010 operating income per share guidance and related assumptions. Forward-looking statements generally can be identified by words such as “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “plan,” “will,” “may,” “should,” “could,” “would,” “likely,” “estimate,” “predict,” “potential,” “continue,” or other similar expressions. Forward-looking statements are made based upon management’s current expectations and beliefs concerning trends and future developments and their potential effects on Chubb. These statements are not guarantees of future performance. Actual results may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties, which include, among others, those discussed or identified from time to time in Chubb’s public filings with the Securities and Exchange Commission and those associated with:

• global political conditions and the occurrence of terrorist attacks, including any nuclear, biological, chemical or radiological events;

• the effects of the outbreak or escalation of war or hostilities;

• premium pricing and profitability or growth estimates overall or by lines of business or geographic area, and related expectations with respect to the timing and terms of any required regulatory approvals;

• adverse changes in loss cost trends;

• our ability to retain existing business and attract new business;

• our expectations with respect to cash flow and investment income and with respect to other income;

• the adequacy of our loss reserves, including:

• our expectations relating to reinsurance recoverables;

• the willingness of parties, including us, to settle disputes;

• developments in judicial decisions or regulatory or legislative actions relating to coverage and liability, in particular, for asbestos, toxic waste and other mass tort claims;

• development of new theories of liability;

• our estimates relating to ultimate asbestos liabilities;

• the impact from the bankruptcy protection sought by various asbestos producers and other related businesses; and

• the effects of proposed asbestos liability legislation, including the impact of claims patterns arising from the possibility of legislation and those that may arise if legislation is not passed;

• the availability and cost of reinsurance coverage;

• the occurrence of significant weather-related or other natural or human-made disasters, particularly in locations where we have concentrations of risk;

7

• the impact of economic factors on companies on whose behalf we have issued surety bonds, and in particular, on those companies that file for bankruptcy or otherwise experience deterioration in creditworthiness;

• the effects of disclosures by, and investigations of, companies relating to possible accounting irregularities, practices in the financial services industry, investment losses or other corporate governance issues, including:

• claims and litigation arising out of stock option “backdating,” “spring loading” and other equity grant practices by public companies;

• the effects on the capital markets and the markets for directors and officers and errors and omissions insurance;

• claims and litigation arising out of actual or alleged accounting or other corporate malfeasance by other companies;

• claims and litigation arising out of practices in the financial services industry;

• claims and litigation relating to uncertainty in the credit and broader financial markets; and

• legislative or regulatory proposals or changes;

• the effects of changes in market practices in the U.S. property and casualty insurance industry arising from any legal or regulatory proceedings, related settlements and industry reform, including changes that have been announced and changes that may occur in the future;

• the impact of legislative and regulatory developments on our business, including those relating to terrorism, catastrophes and the financial markets;

• any downgrade in our claims-paying, financial strength or other credit ratings;

• the ability of our subsidiaries to pay us dividends;

• general political, economic and market conditions, whether globally or in the markets in which we operate, including:

• changes in interest rates, market credit spreads and the performance of the financial markets;

• currency fluctuations;

• the effects of inflation;

• changes in domestic and foreign laws, regulations and taxes;

• changes in competition and pricing environments;

• regional or general changes in asset valuations;

• the inability to reinsure certain risks economically; and

• changes in the litigation environment;

• our ability to implement management’s strategic plans and initiatives.

Chubb assumes no obligation to update any forward-looking information set forth in this document, which speak as of the date hereof.

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THE CHUBB CORPORATION

SUPPLEMENTARY FINANCIAL DATA
(Unaudited)

	Periods Ended September 30
	Third Quarter						Nine Months
	2010			2009			2010			2009
				(in millions)
PROPERTY AND CASUALTY INSURANCE
Underwriting
Net Premiums Written	$	2,732		$	2,705		$	8,383		$	8,294
Decrease (Increase) in Unearned Premiums		66			131			(4	)		196
Premiums Earned		2,798			2,836			8,379			8,490
Losses and Loss Expenses		1,522			1,534			4,912			4,721
Operating Costs and Expenses		864			841			2,615			2,541
Decrease (Increase) in Deferred Policy Acquisition Costs		7			31			(36	)		11
Dividends to Policyholders		6			7			22			22
Underwriting Income		399			423			866			1,195
Investments
Investment Income Before Expenses		398			400			1,187			1,180
Investment Expenses		8			10			25			24
Investment Income		390			390			1,162			1,156
Other Charges		(2	)		(12	)		(5	)		(7	)
Property and Casualty Income		787			801			2,023			2,344
CORPORATE AND OTHER		(57	)		(61	)		(160	)		(182	)
CONSOLIDATED OPERATING INCOME BEFORE INCOME TAX		730			740			1,863			2,162
Federal and Foreign Income Tax		193			188			485			563
CONSOLIDATED OPERATING INCOME		537			552			1,378			1,599
REALIZED INVESTMENT GAINS (LOSSES) AFTER INCOME TAX		35			44			176			(111	)
CONSOLIDATED NET INCOME	$	572		$	596		$	1,554		$	1,488
PROPERTY AND CASUALTY INVESTMENT INCOME AFTER INCOME TAX	$	317		$	317		$	941		$	935

9

	Periods Ended September 30
	Third Quarter						Nine Months
	2010			2009			2010			2009
OUTSTANDING SHARE DATA (in millions)
Average Common and Potentially Dilutive Shares		317.3			353.5			326.3			356.4
Actual Common Shares at End of Period		304.9			341.6			304.9			341.6
DILUTED EARNINGS PER SHARE DATA
Operating Income	$	1.69		$	1.56		$	4.22		$	4.49
Realized Investment Gains (Losses)		.11			.13			.54			(.31	)
Net Income	$	1.80		$	1.69		$	4.76		$	4.18
Effect of Catastrophes	$	(.12	)	$	(.04	)	$	(1.19	)	$	(.17	)

	Sept. 30		Dec. 31		Sept. 30
	2010		2009		2009
BOOK VALUE PER COMMON SHARE	$	52.41	$	47.09	$	45.43
BOOK VALUE PER COMMON SHARE, with Available-for-Sale Fixed Maturities at Amortized Cost		47.25		44.37		42.31

PROPERTY AND CASUALTY UNDERWRITING RATIOS

PERIODS ENDED SEPTEMBER 30

	Third Quarter						Nine Months
	2010			2009			2010			2009
Losses and Loss Expenses to Premiums Earned		54.5	%		54.2	%		58.8	%		55.8	%
Underwriting Expenses to Premiums Written		31.7			31.2			31.3			30.7
Combined Loss and Expense Ratio		86.2	%		85.4	%		90.1	%		86.5	%
Effect of Catastrophes on Combined Loss and Expense Ratio		2.1	%		.8	%		7.1	%		1.1	%

PROPERTY AND CASUALTY LOSSES AND LOSS EXPENSES COMPONENTS
PERIODS ENDED SEPTEMBER 30

	Third Quarter					Nine Months
	2010			2009		2010		2009
				(in millions)
Paid Losses and Loss Expenses	$	1,581		$	1,399	$	4,699	$	4,415
Increase (Decrease) in Unpaid Losses and Loss Expenses		(59	)		135		213		306
Total Losses and Loss Expenses	$	1,522		$	1,534	$	4,912	$	4,721

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PROPERTY AND CASUALTY PRODUCT MIX

	Net Premiums Written							Combined Loss and
					% Increase			Expense Ratios
	2010		2009		(Decrease)			2010			2009
	(in millions)
NINE MONTHS ENDED SEPTEMBER 30
Personal Insurance
Automobile	$	474	$	428		11	%		91.1	%		89.1	%
Homeowners		1,795		1,771		1			96.1			81.9
Other		593		551		8			90.7			92.8
Total Personal		2,862		2,750		4			94.2			85.2
Commercial Insurance
Multiple Peril		817		835		(2	)		97.2			85.5
Casualty		1,162		1,161		—			91.3			96.4
Workers’ Compensation		586		610		(4	)		92.1			91.5
Property and Marine		969		953		2			88.1			85.0
Total Commercial		3,534		3,559		(1	)		91.9			89.9
Specialty Insurance
Professional Liability		1,735		1,725		1			87.5			90.4
Surety		246		243		1			42.5			36.5
Total Specialty		1,981		1,968		1			82.2			84.2
Total Insurance		8,377		8,277		1			90.3			87.0
Reinsurance Assumed		6		17		(65	)		*			*
Total	$	8,383	$	8,294		1			90.1			86.5
QUARTERS ENDED SEPTEMBER 30
Personal Insurance
Automobile	$	160	$	150		7	%		91.7	%		87.2	%
Homeowners		631		620		2			81.0			77.3
Other		189		176		7			94.2			90.9
Total Personal		980		946		4			85.4			81.6
Commercial Insurance
Multiple Peril		277		274		1			84.5			91.0
Casualty		350		346		1			94.9			93.9
Workers’ Compensation		177		186		(5	)		95.0			95.7
Property and Marine		278		280		(1	)		83.3			83.0
Total Commercial		1,082		1,086		—			89.1			90.5
Specialty Insurance
Professional Liability		582		588		(1	)		89.3			90.0
Surety		87		81		7			40.0			32.5
Total Specialty		669		669		—			83.3			83.6
Total Insurance		2,731		2,701		1			86.4			85.8
Reinsurance Assumed		1		4		(75	)		*			*
Total	$	2,732	$	2,705		1			86.2			85.4

* Combined loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

11

EX-99.2

Exhibit 99.2

The
Chubb
Corporation Supplementary
Investor
Information September 30, 2010

This report is for informational purposes only. It should be read in conjunction with documents filed by The Chubb Corporation with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

THE CHUBB CORPORATION
SUPPLEMENTARY INVESTOR INFORMATION
TABLE OF CONTENTS
SEPTEMBER 30, 2010

	Page
The Chubb Corporation:
Consolidated Balance Sheet Highlights	1
Share Repurchase Activity	2
Summary of Invested Assets:
Corporate	3
Property and Casualty	3
Investment Income After Taxes:
Corporate	4
Property and Casualty	4
Property and Casualty Insurance Group:
Statutory Policyholders’ Surplus	4
Change in Net Unpaid Losses	5
Underwriting Results — Year-To-Date	6-10
Underwriting Results — Quarterly	11-15
Definitions of Key Terms	16-17

THE CHUBB CORPORATION

CONSOLIDATED BALANCE SHEET HIGHLIGHTS

(in millions, except per share amounts)

	Sept. 30						Dec. 31
	2010						2009
				% of Total						% of Total
Invested Assets (at carrying value)
Short Term Investments	$	2,046			5	%	$	1,918			5	%
Fixed Maturities
Tax Exempt		20,248			47			19,587			47
Taxable		17,136			40			16,991			40
Equity Securities		1,404			3			1,433			3
Other Invested Assets		2,218			5			2,075			5
Total Invested Assets	$	43,052			100	%	$	42,004			100	%
Unrealized Appreciation of Investments
Fixed Maturities	$	2,419					$	1,388
Equity Securities		151						218
		2,570						1,606
Deferred Income Tax Liability		899						562
	$	1,671					$	1,044
Capitalization
Long Term Debt	$	3,975					$	3,975
Shareholders’ Equity		15,979						15,634
Total Capitalization	$	19,954					$	19,609
Debt as a Percentage of Total Capitalization		19.9	%					20.3	%
Actual Common Shares Outstanding		304.9						332.0
Book Value Per Common Share	$	52.41					$	47.09
Book Value Per Common Share, with Available-for-Sale Fixed Maturities at Amortized Cost	$	47.25					$	44.37

Page 1 of 17

THE CHUBB CORPORATION

SHARE REPURCHASE ACTIVITY

(dollars in millions, except per share amounts)

	Periods Ended September 30
	Third		Nine		From
	Quarter		Months		December 2005
	2010		2010		to September 30, 2010
Cost of Shares Repurchased		$555		$1,535		$7,487
Average Cost Per Share		$54.63		$51.94		$50.45
Shares Repurchased		10,161,051		29,555,869		148,395,744

In December 2005 and December 2006, the Board of Directors authorized the repurchase of up to 28,000,000 shares and 20,000,000 shares, respectively, of the Corporation’s common stock. In March 2007, the Board of Directors authorized an increase of 20,000,000 shares to the authorization approved in 2006. In December 2007 and 2008, the Board of Directors authorized the repurchase of up to 28,000,000 shares and 20,000,000 shares, respectively, of the Corporation’s common stock. No shares remain under these share repurchase authorizations.

In December 2009, the Board of Directors authorized the repurchase of up to 25,000,000 shares of the Corporation’s common stock. In June 2010, the Board of Directors authorized an increase of 14,000,000 shares to the authorization approved in December 2009. The authorization has no expiration date. As of September 30, 2010, 6,604,256 shares remained under the share repurchase authorization.

Page 2 of 17

THE CHUBB CORPORATION

SUMMARY OF INVESTED ASSETS

CORPORATE

	Cost or				Carrying
	Amortized Cost				Value (a)
	Sept. 30		Dec. 31		Sept. 30		Dec. 31
	2010		2009		2010		2009
			(in millions)
Short Term Investments	$	906	$	1,017	$	906	$	1,017
Taxable Fixed Maturities		1,203		1,286		1,259		1,327
Equity Securities		205		205		157		202
Other Invested Assets		15		25		15		25
TOTAL	$	2,329	$	2,533	$	2,337	$	2,571

PROPERTY AND CASUALTY

	Cost or				Carrying
	Amortized Cost				Value (a)
	Sept. 30		Dec. 31		Sept. 30		Dec. 31
	2010		2009		2010		2009
			(in millions)
Short Term Investments	$	1,140	$	901	$	1,140	$	901
Fixed Maturities
Tax Exempt		18,894		18,720		20,248		19,587
Taxable		14,868		15,184		15,877		15,664
Equity Securities		1,048		1,010		1,247		1,231
Other Invested Assets		2,203		2,050		2,203		2,050
TOTAL	$	38,153	$	37,865	$	40,715	$	39,433

(a) Short term investments are carried at amortized cost, which approximates fair value. Fixed maturities and equity securities are carried at fair value. Other invested assets include private equity limited partnerships carried at Chubb’s equity in the net assets of the partnerships.

Page 3 of 17

THE CHUBB CORPORATION

INVESTMENT INCOME AFTER TAXES

	Periods Ended September 30
	Third Quarter						Nine Months
	2010			2009			2010			2009
				(in millions)
CORPORATE INVESTMENT INCOME	$	8		$	9		$	38		$	27
PROPERTY AND CASUALTY INVESTMENT INCOME
Tax Exempt Interest	$	190		$	190		$	569		$	563
Taxable Interest		116			118			351			346
Other		16			16			37			42
Investment Expenses		(5	)		(7	)		(16	)		(16	)
TOTAL	$	317		$	317		$	941		$	935
Effective Tax Rate		18.7	%		18.7	%		19.0	%		19.1	%
After-Tax Annualized Yield		3.32	%		3.39	%		3.28	%		3.40	%

After-tax annualized yield is based on the average invested assets for the periods presented, with fixed maturities at amortized cost and equity securities at fair value.

STATUTORY POLICYHOLDERS’ SURPLUS

	Sept. 30		Dec. 31		Sept. 30
	2010		2009		2009
	(in millions)
Estimated Statutory Policyholders’ Surplus	$	14,500	$	14,526	$	13,650
Rolling Year Statutory Net Premiums Written	$	11,185	$	11,074	$	11,180
Ratio of Statutory Net Premiums Written to Policyholders’ Surplus		0.77:1		0.76:1		0.82:1

Statutory Policyholders’ Surplus and Net Premiums Written include all domestic and foreign property and casualty subsidiaries.

Page 4 of 17

THE CHUBB CORPORATION

PROPERTY AND CASUALTY

CHANGE IN NET UNPAID LOSSES
NINE MONTHS ENDED SEPTEMBER 30, 2010

											All Other
	Net Unpaid Losses							IBNR			Unpaid Losses
					Increase			Increase			Increase
	9/30/10		12/31/09		(Decrease)			(Decrease)			(Decrease)
					(in millions)
Personal Insurance
Automobile	$	399	$	400	$	(1	)	$	(23	)	$	22
Homeowners		716		665		51			41			10
Other		859		872		(13	)		16			(29	)
Total Personal		1,974		1,937		37			34			3
Commercial Insurance
Multiple Peril		1,706		1,615		91			42			49
Casualty		6,082		5,988		94			174			(80	)
Workers’ Compensation		2,198		2,138		60			60			—
Property and Marine		792		758		34			22			12
Total Commercial		10,778		10,499		279			298			(19	)
Specialty Insurance
Professional Liability		7,414		7,552		(138	)		(133	)		(5	)
Surety		61		58		3			1			2
Total Specialty		7,475		7,610		(135	)		(132	)		(3	)
Total Insurance		20,227		20,046		181			200			(19	)
Reinsurance Assumed		632		740		(108	)		(77	)		(31	)
Total	$	20,859	$	20,786	$	73		$	123		$	(50	)

Page 5 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Personal												Other						Total
	Automobile						Homeowners						Personal						Personal
	2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	474		$	428		$	1,795		$	1,771		$	593		$	551		$	2,862		$	2,750
Decrease (Increase) in Unearned Premiums		(16	)		1			(24	)		8			(22	)		(5	)		(62	)		4
Net Premiums Earned		458			429			1,771			1,779			571			546			2,800			2,754
Net Losses Paid		281			256			1,066			929			331			283			1,678			1,468
Increase (Decrease) in Outstanding Losses		(1	)		2			51			(53	)		(4	)		50			46			(1	)
Net Losses Incurred		280			258			1,117			876			327			333			1,724			1,467
Expenses Incurred		142			124			593			579			198			175			933			878
Dividends Incurred		—			—			—			—			—			—			—			—
Statutory Underwriting Income	$	36		$	47		$	61		$	324		$	46		$	38		$	143		$	409
Ratios After Dividends to Policyholders:
Loss		61.1	%		60.1	%		63.1	%		49.2	%		57.3	%		61.0	%		61.6	%		53.3	%
Expense		30.0			29.0			33.0			32.7			33.4			31.8			32.6			31.9
Combined		91.1	%		89.1	%		96.1	%		81.9	%		90.7	%		92.8	%		94.2	%		85.2	%
Premiums Written as a % of Total		5.6	%		5.2	%		21.4	%		21.4	%		7.1	%		6.6	%		34.1	%		33.2	%

Page 6 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

													Commercial						Commercial
	Commercial						Commercial						Workers’						Property						Total
	Multiple Peril						Casualty						Compensation						and Marine						Commercial
	2010			2009			2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	817		$	835		$	1,162		$	1,161		$	586		$	610		$	969		$	953		$	3,534		$	3,559
Decrease (Increase) in Unearned Premiums		16			33			(18	)		21			(36	)		(7	)		(21	)		(21	)		(59	)		26
Net Premiums Earned		833			868			1,144			1,182			550			603			948			932			3,475			3,585
Net Losses Paid		407			409			584			605			291			280			466			527			1,748			1,821
Increase (Decrease) in Outstanding Losses		94			15			133			195			68			116			43			(58	)		338			268
Net Losses Incurred		501			424			717			800			359			396			509			469			2,086			2,089
Expenses Incurred		303			306			333			333			141			142			333			330			1,110			1,111
Dividends Incurred		—			—			—			—			17			17			—			—			17			17
Statutory Underwriting Income	$	29		$	138		$	94		$	49		$	33		$	48		$	106		$	133		$	262		$	368
Ratios After Dividends to Policyholders:
Loss		60.1	%		48.9	%		62.6	%		67.7	%		67.3	%		67.6	%		53.7	%		50.3	%		60.3	%		58.5	%
Expense		37.1			36.6			28.7			28.7			24.8			23.9			34.4			34.7			31.6			31.4
Combined		97.2	%		85.5	%		91.3	%		96.4	%		92.1	%		91.5	%		88.1	%		85.0	%		91.9	%		89.9	%
Premiums Written as a % of Total		9.7	%		10.1	%		13.9	%		14.0	%		7.0	%		7.3	%		11.6	%		11.5	%		42.2	%		42.9	%

Page 7 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Professional												Total
	Liability						Surety						Specialty
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	1,735		$	1,725		$	246		$	243		$	1,981		$	1,968
Decrease (Increase) in Unearned Premiums		104			134			8			8			112			142
Net Premiums Earned		1,839			1,859			254			251			2,093			2,110
Net Losses Paid		1,165			998			14			14			1,179			1,012
Increase (Decrease) in Outstanding Losses		(66	)		182			3			(7	)		(63	)		175
Net Losses Incurred		1,099			1,180			17			7			1,116			1,187
Expenses Incurred		482			465			86			80			568			545
Dividends Incurred		—			—			5			5			5			5
Statutory Underwriting Income	$	258		$	214		$	146		$	159		$	404		$	373
Ratios After Dividends to Policyholders:
Loss		59.7	%		63.4	%		6.8	%		2.9	%		53.5	%		56.4	%
Expense		27.8			27.0			35.7			33.6			28.7			27.8
Combined		87.5	%		90.4	%		42.5	%		36.5	%		82.2	%		84.2	%
Premiums Written as a % of Total		20.7	%		20.8	%		2.9	%		2.9	%		23.6	%		23.7	%

Page 8 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Total						Reinsurance						Worldwide
	Insurance						Assumed						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	8,377		$	8,277		$	6		$	17		$	8,383		$	8,294
Decrease (Increase) in Unearned Premiums		(9	)		172			5			24			(4	)		196
Net Premiums Earned		8,368			8,449			11			41			8,379			8,490
Net Losses Paid		4,605			4,301			94			114			4,699			4,415
Increase (Decrease) in Outstanding Losses		321			442			(108	)		(136	)		213			306
Net Losses Incurred		4,926			4,743			(14	)		(22	)		4,912			4,721
Expenses Incurred		2,611			2,534			4			7			2,615			2,541
Dividends Incurred		22			22			—			—			22			22
Statutory Underwriting Income	$	809		$	1,150		$	21		$	56			830			1,206
Increase (Decrease) in Deferred Acquisition Costs														36			(11	)
GAAP Underwriting Income													$	866		$	1,195
Ratios After Dividends to Policyholders:
Loss		59.0	%		56.3	%		*	%		*	%		58.8	%		55.8	%
Expense		31.3			30.7			*			*			31.3			30.7
Combined		90.3	%		87.0	%		*	%		*	%		90.1	%		86.5	%
Premiums Written as a % of Total		99.9	%		99.8	%		0.1	%		0.2	%		100.0	%		100.0	%

* Combined, loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

Page 9 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

							Outside
							the						Worldwide
	United States						United States						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	6,229		$	6,357		$	2,154		$	1,937		$	8,383		$	8,294
Decrease (Increase) in Unearned Premiums		21			207			(25	)		(11	)		(4	)		196
Net Premiums Earned		6,250			6,564			2,129			1,926			8,379			8,490
Net Losses Paid		3,722			3,603			977			812			4,699			4,415
Increase (Decrease) in Outstanding Losses		182			60			31			246			213			306
Net Losses Incurred		3,904			3,663			1,008			1,058			4,912			4,721
Expenses Incurred		1,848			1,849			767			692			2,615			2,541
Dividends Incurred		22			22			—			—			22			22
Statutory Underwriting Income	$	476		$	1,030		$	354		$	176			830			1,206
Increase (Decrease) in Deferred Acquisition Costs														36			(11	)
GAAP Underwriting Income													$	866		$	1,195
Ratios After Dividends to Policyholders:
Loss		62.7	%		56.0	%		47.3	%		54.9	%		58.8	%		55.8	%
Expense		29.8			29.2			35.6			35.7			31.3			30.7
Combined		92.5	%		85.2	%		82.9	%		90.6	%		90.1	%		86.5	%
Premiums Written as a % of Total		74.2	%		76.6	%		25.8	%		23.4	%		100.0	%		100.0	%

Page 10 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Personal												Other						Total
	Automobile						Homeowners						Personal						Personal
	2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	160		$	150		$	631		$	620		$	189		$	176		$	980		$	946
Decrease (Increase) in Unearned Premiums		(6	)		(3	)		(37	)		(27	)		5			14			(38	)		(16	)
Net Premiums Earned		154			147			594			593			194			190			942			930
Net Losses Paid		90			89			361			278			111			88			562			455
Increase (Decrease) in Outstanding Losses		5			(3	)		(71	)		(11	)		3			20			(63	)		6
Net Losses Incurred		95			86			290			267			114			108			499			461
Expenses Incurred		48			43			203			200			67			60			318			303
Dividends Incurred		—			—			—			—			—			—			—			—
Statutory Underwriting Income	$	11		$	18		$	101		$	126		$	13		$	22		$	125		$	166
Ratios After Dividends to Policyholders:
Loss		61.7	%		58.5	%		48.8	%		45.0	%		58.8	%		56.8	%		53.0	%		49.6	%
Expense		30.0			28.7			32.2			32.3			35.4			34.1			32.4			32.0
Combined		91.7	%		87.2	%		81.0	%		77.3	%		94.2	%		90.9	%		85.4	%		81.6	%
Premiums Written as a % of Total		5.9	%		5.5	%		23.1	%		23.0	%		6.9	%		6.5	%		35.9	%		35.0	%

Page 11 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

													Commercial						Commercial
	Commercial						Commercial						Workers’						Property						Total
	Multiple Peril						Casualty						Compensation						and Marine						Commercial
	2010			2009			2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	277		$	274		$	350		$	346		$	177		$	186		$	278		$	280		$	1,082		$	1,086
Decrease (Increase) in Unearned Premiums		—			12			31			46			4			8			42			40			77			106
Net Premiums Earned		277			286			381			392			181			194			320			320			1,159			1,192
Net Losses Paid		148			136			211			207			90			88			164			162			613			593
Increase (Decrease) in Outstanding Losses		(13	)		21			33			42			31			45			(15	)		(13	)		36			95
Net Losses Incurred		135			157			244			249			121			133			149			149			649			688
Expenses Incurred		99			99			108			105			46			45			102			102			355			351
Dividends Incurred		—			—			—			—			4			6			—			—			4			6
Statutory Underwriting Income	$	43		$	30		$	29		$	38		$	10		$	10		$	69		$	69		$	151		$	147
Ratios After Dividends to Policyholders:
Loss		48.8	%		54.9	%		64.0	%		63.5	%		68.4	%		70.7	%		46.6	%		46.6	%		56.2	%		58.0	%
Expense		35.7			36.1			30.9			30.4			26.6			25.0			36.7			36.4			32.9			32.5
Combined		84.5	%		91.0	%		94.9	%		93.9	%		95.0	%		95.7	%		83.3	%		83.0	%		89.1	%		90.5	%
Premiums Written as a % of Total		10.1	%		10.1	%		12.8	%		12.8	%		6.5	%		6.9	%		10.2	%		10.4	%		39.6	%		40.2	%

Page 12 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Professional												Total
	Liability						Surety						Specialty
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	582		$	588		$	87		$	81		$	669		$	669
Decrease (Increase) in Unearned Premiums		25			36			—			(1	)		25			35
Net Premiums Earned		607			624			87			80			694			704
Net Losses Paid		371			321			6			—			377			321
Increase (Decrease) in Outstanding Losses		4			71			(1	)		1			3			72
Net Losses Incurred		375			392			5			1			380			393
Expenses Incurred		160			160			29			25			189			185
Dividends Incurred		—			—			2			1			2			1
Statutory Underwriting Income	$	72		$	72		$	51		$	53		$	123		$	125
Ratios After Dividends to Policyholders:
Loss		61.8	%		62.8	%		5.9	%		1.3	%		54.9	%		55.9	%
Expense		27.5			27.2			34.1			31.2			28.4			27.7
Combined		89.3	%		90.0	%		40.0	%		32.5	%		83.3	%		83.6	%
Premiums Written as a % of Total		21.3	%		21.7	%		3.2	%		3.0	%		24.5	%		24.7	%

Page 13 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Total						Reinsurance						Worldwide
	Insurance						Assumed						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	2,731		$	2,701		$	1		$	4		$	2,732		$	2,705
Decrease (Increase) in Unearned Premiums		64			125			2			6			66			131
Net Premiums Earned		2,795			2,826			3			10			2,798			2,836
Net Losses Paid		1,552			1,369			29			30			1,581			1,399
Increase (Decrease) in Outstanding Losses		(24	)		173			(35	)		(38	)		(59	)		135
Net Losses Incurred		1,528			1,542			(6	)		(8	)		1,522			1,534
Expenses Incurred		862			839			2			2			864			841
Dividends Incurred		6			7			—			—			6			7
Statutory Underwriting Income	$	399		$	438		$	7		$	16			406			454
Decrease in Deferred Acquisition Costs														(7	)		(31	)
GAAP Underwriting Income													$	399		$	423
Ratios After Dividends to Policyholders:
Loss		54.8	%		54.7	%		*	%		*	%		54.5	%		54.2	%
Expense		31.6			31.1			*			*			31.7			31.2
Combined		86.4	%		85.8	%		*	%		*	%		86.2	%		85.4	%
Premiums Written as a % of Total		100.0	%		99.9	%		0.0	%		0.1	%		100.0	%		100.0	%

* Combined, loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

Page 14 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED SEPTEMBER 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

							Outside
							the						Worldwide
	United States						United States						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	2,082		$	2,091		$	650		$	614		$	2,732		$	2,705
Decrease (Increase) in Unearned Premiums		(5	)		65			71			66			66			131
Net Premiums Earned		2,077			2,156			721			680			2,798			2,836
Net Losses Paid		1,256			1,117			325			282			1,581			1,399
Increase (Decrease) in Outstanding Losses		(56	)		65			(3	)		70			(59	)		135
Net Losses Incurred		1,200			1,182			322			352			1,522			1,534
Expenses Incurred		625			618			239			223			864			841
Dividends Incurred		6			7			—			—			6			7
Statutory Underwriting Income	$	246		$	349		$	160		$	105			406			454
Decrease in Deferred Acquisition Costs														(7	)		(31	)
GAAP Underwriting Income													$	399		$	423
Ratios After Dividends to Policyholders:
Loss		57.9	%		55.0	%		44.7	%		51.8	%		54.5	%		54.2	%
Expense		30.1			29.7			36.8			36.3			31.7			31.2
Combined		88.0	%		84.7	%		81.5	%		88.1	%		86.2	%		85.4	%
Premiums Written as a % of Total		76.2	%		77.3	%		23.8	%		22.7	%		100.0	%		100.0	%

Page 15 of 17

THE CHUBB CORPORATION

Definitions of Key Terms

Underwriting Income (Loss)

Management evaluates underwriting results separately from investment results. The underwriting operations consist of four separate business units: personal insurance, commercial insurance, specialty insurance and reinsurance assumed. Performance of the business units is measured based on statutory underwriting results. Statutory accounting principles applicable to property and casualty insurance companies differ in certain respects from generally accepted accounting principles (GAAP). Under statutory accounting principles, policy acquisition and other underwriting expenses are recognized immediately, not at the time premiums are earned. Statutory underwriting income (loss) is arrived at by reducing premiums earned by losses and loss expenses incurred and statutory underwriting expenses incurred.

Management uses underwriting results determined in accordance with GAAP, among other measures, to assess the overall performance of the underwriting operations. To convert statutory underwriting results to a GAAP basis, policy acquisition expenses are deferred and amortized over the period in which the related premiums are earned. Underwriting income (loss) determined in accordance with GAAP is defined as premiums earned less losses and loss expenses incurred and GAAP underwriting expenses incurred.

Property and Casualty Investment Income After Income Tax

Management uses property and casualty investment income after income tax, a non-GAAP financial measure, to evaluate its investment performance because it reflects the impact of any change in the proportion of the investment portfolio invested in tax exempt securities and is therefore more meaningful for analysis purposes than investment income before income taxes.

Book Value per Common Share with Available-for-Sale Fixed Maturities at Amortized Cost

Book value per common share represents the portion of consolidated shareholders’ equity attributable to one share of common stock outstanding as of the balance sheet date. Consolidated shareholders’ equity includes, as part of accumulated other comprehensive income (loss), the after-tax appreciation or depreciation, including unrealized other-than-temporary impairment losses, of the Corporation’s available-for-sale fixed maturities, which are carried at fair value. The appreciation or depreciation of available-for-sale fixed maturities is subject to fluctuation due to changes in interest rates and therefore could distort the analysis of trends. Management believes that book value per common share with available-for-sale fixed maturities at amortized cost, a non-GAAP financial measure, is an important measure of the underlying equity attributable to one share of common stock.

Combined Loss and Expense Ratio or Combined Ratio

The combined loss and expense ratio, expressed as a percentage, is the key measure of underwriting profitability. Management uses the combined loss and expense ratio calculated in accordance with statutory accounting principles applicable to property and casualty insurance companies to evaluate the performance of the underwriting operations. It is the sum of the ratio of losses and loss expenses to premiums earned (loss ratio) plus the ratio of statutory underwriting expenses to premiums written (expense ratio) after reducing both premium amounts by dividends to policyholders.

Page 16 of 17

THE CHUBB CORPORATION

Definitions of Key Terms

Operating Income

Operating income, a non-GAAP financial measure, is net income excluding after-tax realized investment gains and losses. Management uses operating income, among other measures, to evaluate its performance because the realization of investment gains and losses in any given period is largely discretionary as to timing and can fluctuate significantly, which could distort the analysis of trends.

Return on Equity and Operating Return on Equity

Return on equity is the ratio of annualized net income divided by average shareholders’ equity. Average shareholders’ equity is the average of the beginning and all quarter-end balances within the period.

Operating return on equity, a non-GAAP measure, is the ratio of annualized operating income divided by average shareholders’ equity excluding the after-tax unrealized appreciation or depreciation of investments. Consolidated shareholders’ equity includes, as part of accumulated other comprehensive income (loss), the after-tax appreciation or depreciation, including unrealized other-than-temporary impairment losses, of the Corporation’s available-for-sale fixed maturities and equity securities, which are carried at fair value. The appreciation or depreciation of available-for-sale fixed maturities and equity securities is subject to fluctuation and could distort the analysis of trends. Average shareholders’ equity excluding the after-tax unrealized appreciation or depreciation of investments is the average of the beginning and all quarter-end balances within the period. Management uses operating return on equity, among other measures, to assess the overall performance of the Corporation.

	Periods Ended September 30
	Third Quarter						Nine Months
	2010			2009			2010			2009
	(dollars in millions)
Annualized Net Income	$	2,288		$	2,384		$	2,072		$	1,984
Average Shareholders’ Equity	$	15,756		$	15,011		$	15,722		$	14,315
Return on Equity		14.5	%		15.9	%		13.2	%		13.9	%
Annualized Operating Income	$	2,148		$	2,208		$	1,837		$	2,132
Average Shareholders’ Equity Excluding Unrealized Appreciation or Depreciation	$	14,315		$	14,270		$	14,452		$	13,934
Operating Return on Equity		15.0	%		15.5	%		12.7	%		15.3	%

Page 17 of 17

EX-99.3

Exhibit 99.3

The	Supplementary	March 31, 2010
Chubb	Investor	(Revised)
Corporation	Information

This report is for informational purposes only. It should be read in conjunction with documents filed by The Chubb Corporation with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

THE CHUBB CORPORATION

In October 2010, page 10 of this Supplementary Investor Information Report was revised to reflect a reclassification between the United States results and the Outside the United States results. This reclassification had no impact on Worldwide Total results.

THE CHUBB CORPORATION
SUPPLEMENTARY INVESTOR INFORMATION
TABLE OF CONTENTS
MARCH 31, 2010

	Page
The Chubb Corporation:
Consolidated Balance Sheet Highlights		1
Share Repurchase Activity		2
Summary of Invested Assets:
Corporate		3
Property and Casualty		3
Investment Income After Taxes:
Corporate		4
Property and Casualty		4
Property and Casualty Insurance Group:
Statutory Policyholders’ Surplus		4
Change in Net Unpaid Losses		5
Underwriting Results		6-10
Definitions of Key Terms		11-12

THE CHUBB CORPORATION

CONSOLIDATED BALANCE SHEET HIGHLIGHTS

(in millions, except per share amounts)

	Mar. 31						Dec. 31
	2010						2009
				% of Total						% of Total
Invested Assets (at carrying value)
Short Term Investments	$	2,394			6	%	$	1,918			5	%
Fixed Maturities
Tax Exempt		19,462			46			19,587			47
Taxable		16,825			40			16,991			40
Equity Securities		1,497			3			1,433			3
Other Invested Assets		2,151			5			2,075			5
Total Invested Assets	$	42,329			100	%	$	42,004			100	%
Unrealized Appreciation of Investments
Fixed Maturities	$	1,499					$	1,388
Equity Securities		276						218
		1,775						1,606
Deferred Income Tax Liability		621						562
	$	1,154					$	1,044
Capitalization
Long Term Debt	$	3,975					$	3,975
Shareholders’ Equity		15,741						15,634
Total Capitalization	$	19,716					$	19,609
Debt as a Percentage of Total Capitalization		20.2	%					20.3	%
Actual Common Shares Outstanding		326.8						332.0
Book Value Per Common Share	$	48.17					$	47.09
Book Value Per Common Share, with Available-for-Sale Fixed Maturities at Amortized Cost	$	45.19					$	44.37

Page 1 of 12

THE CHUBB CORPORATION

SHARE REPURCHASE ACTIVITY

(dollars in millions, except per share amounts)

	Three Months		From
	Ended		December 2005
	March 31, 2010		to March 31, 2010
Cost of Shares Repurchased	$	344	$	6,296
Average Cost Per Share	$	49.47	$	50.05
Shares Repurchased		6,961,667		125,801,542

In December 2005 and December 2006, the Board of Directors authorized the repurchase of up to 28,000,000 shares and 20,000,000 shares, respectively, of the Corporation’s common stock. In March 2007, the Board of Directors authorized an increase of 20,000,000 shares to the authorization approved in 2006. In December 2007 and 2008, the Board of Directors authorized the repurchase of up to 28,000,000 shares and 20,000,000 shares, respectively, of the Corporation’s common stock. No shares remain under these share repurchase authorizations.

In December 2009, the Board of Directors authorized the repurchase of up to 25,000,000 shares of the Corporation’s common stock. The authorization has no expiration date. As of March 31, 2010, 15,198,458 shares remained under the share repurchase authorization.

Page 2 of 12

THE CHUBB CORPORATION

SUMMARY OF INVESTED ASSETS

CORPORATE

	Cost or				Carrying
	Amortized Cost				Value (a)
	Mar. 31		Dec. 31		Mar. 31		Dec. 31
	2010		2009		2010		2009
			(in millions)
Short Term Investments	$	868	$	1,017	$	868	$	1,017
Taxable Fixed Maturities		1,276		1,286		1,326		1,327
Equity Securities		204		205		199		202
Other Invested Assets		23		25		23		25
TOTAL	$	2,371	$	2,533	$	2,416	$	2,571

PROPERTY AND CASUALTY

	Cost or				Carrying
	Amortized Cost				Value (a)
	Mar. 31		Dec. 31		Mar. 31		Dec. 31
	2010		2009		2010		2009
			(in millions)
Short Term Investments	$	1,526	$	901	$	1,526	$	901
Fixed Maturities
Tax Exempt		18,604		18,720		19,462		19,587
Taxable		14,908		15,184		15,499		15,664
Equity Securities		1,017		1,010		1,298		1,231
Other Invested Assets		2,128		2,050		2,128		2,050
TOTAL	$	38,183	$	37,865	$	39,913	$	39,433

(a) Short term investments are carried at amortized cost, which approximates fair value. Fixed maturities and equity securities are carried at fair value. Other invested assets include private equity limited partnerships carried at Chubb’s equity in the net assets of the partnerships.

Page 3 of 12

THE CHUBB CORPORATION

INVESTMENT INCOME AFTER TAXES

	Three Months Ended
	March 31
	2010			2009
	(in millions)
CORPORATE INVESTMENT INCOME	$	8		$	9
PROPERTY AND CASUALTY INVESTMENT INCOME
Tax Exempt Interest	$	189		$	186
Taxable Interest		121			114
Other		9			11
Investment Expenses		(6	)		(5	)
TOTAL	$	313		$	306
Effective Tax Rate		19.1	%		19.3	%
After-Tax Annualized Yield		3.27	%		3.41	%

After-tax annualized yield is based on the average invested assets for the periods presented, with fixed maturities at amortized cost and equity securities at fair value.

STATUTORY POLICYHOLDERS’ SURPLUS

	Mar. 31		Dec. 31		Mar. 31
	2010		2009		2009
			(in millions)
Estimated Statutory Policyholders’ Surplus	$	14,800	$	14,526	$	12,450
Rolling Year Statutory Net Premiums Written	$	11,105	$	11,074	$	11,565
Ratio of Statutory Net Premiums Written to Policyholders’ Surplus		0.75:1		0.76:1		0.93:1

Statutory Policyholders’ Surplus and Net Premiums Written include all domestic and foreign property and casualty subsidiaries.

Page 4 of 12

THE CHUBB CORPORATION

PROPERTY AND CASUALTY

CHANGE IN NET UNPAID LOSSES
THREE MONTHS ENDED MARCH 31, 2010

	Net Unpaid Losses										All Other
								IBNR			Unpaid Losses
					Increase			Increase			Increase
	3/31/10		12/31/09		(Decrease)			(Decrease)			(Decrease)
					(in millions)
Personal Insurance
Automobile	$	399	$	400	$	(1	)	$	(5	)	$	4
Homeowners		851		665		186			179			7
Other		874		872		2			12			(10	)
Total Personal		2,124		1,937		187			186			1
Commercial Insurance
Multiple Peril		1,681		1,615		66			84			(18	)
Casualty		6,037		5,988		49			101			(52	)
Workers’ Compensation		2,160		2,138		22			31			(9	)
Property and Marine		788		758		30			32			(2	)
Total Commercial		10,666		10,499		167			248			(81	)
Specialty Insurance
Professional Liability		7,488		7,552		(64	)		(43	)		(21	)
Surety		56		58		(2	)		1			(3	)
Total Specialty		7,544		7,610		(66	)		(42	)		(24	)
Total Insurance		20,334		20,046		288			392			(104	)
Reinsurance Assumed		694		740		(46	)		(32	)		(14	)
Total	$	21,028	$	20,786	$	242		$	360		$	(118	)

Page 5 of 12

THE CHUBB CORPORATION — WORLDWIDE

PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Personal												Other						Total
	Automobile						Homeowners						Personal						Personal
	2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	146		$	131		$	517		$	514		$	211		$	198		$	874		$	843
Decrease (Increase) in Unearned Premiums		4			9			73			80			(26	)		(25	)		51			64
Net Premiums Earned		150			140			590			594			185			173			925			907
Net Losses Paid		94			85			276			348			99			101			469			534
Increase (Decrease) in Outstanding Losses		(3	)		(1	)		185			(30	)		5			16			187			(15	)
Net Losses Incurred		91			84			461			318			104			117			656			519
Expenses Incurred		45			39			182			178			66			59			293			276
Dividends Incurred		—			—			—			—			—			—			—			—
Statutory Underwriting Income (Loss)	$	14		$	17		$	(53	)	$	98		$	15		$	(3	)	$	(24	)	$	112
Ratios After Dividends to Policyholders:
Loss		60.7	%		60.0	%		78.1	%		53.6	%		56.2	%		67.6	%		70.9	%		57.2	%
Expense		30.8			29.8			35.2			34.6			31.3			29.8			33.5			32.8
Combined		91.5	%		89.8	%		113.3	%		88.2	%		87.5	%		97.4	%		104.4	%		90.0	%
Premiums Written as a % of Total		5.3	%		4.8	%		18.7	%		18.7	%		7.6	%		7.2	%		31.6	%		30.7	%

Page 6 of 12

THE CHUBB CORPORATION — WORLDWIDE

PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009
(DOLLARS IN MILLIONS)

													Commercial						Commercial
	Commercial						Commercial						Workers’						Property						Total
	Multiple Peril						Casualty						Compensation						and Marine						Commercial
	2010			2009			2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	254		$	269		$	414		$	409		$	222		$	236		$	353		$	346		$	1,243		$	1,260
Decrease (Increase) in Unearned Premiums		15			24			(28	)		(12	)		(36	)		(30	)		(42	)		(44	)		(91	)		(62	)
Net Premiums Earned		269			293			386			397			186			206			311			302			1,152			1,198
Net Losses Paid		129			151			175			196			93			89			139			182			536			618
Increase (Decrease) in Outstanding Losses		67			(10	)		59			101			29			42			34			(39	)		189			94
Net Losses Incurred		196			141			234			297			122			131			173			143			725			712
Expenses Incurred		101			101			115			114			48			51			113			116			377			382
Dividends Incurred		—			—			—			—			7			6			—			—			7			6
Statutory Underwriting Income (Loss)	$	(28	)	$	51		$	37		$	(14	)	$	9		$	18		$	25		$	43		$	43		$	98
Ratios After Dividends to Policyholders:
Loss		72.9	%		48.1	%		60.6	%		74.8	%		68.2	%		65.5	%		55.6	%		47.4	%		63.3	%		59.7	%
Expense		39.7			37.6			27.8			27.9			22.3			22.2			32.0			33.5			30.5			30.5
Combined		112.6	%		85.7	%		88.4	%		102.7	%		90.5	%		87.7	%		87.6	%		80.9	%		93.8	%		90.2	%
Premiums Written as a % of Total		9.2	%		9.8	%		15.0	%		14.9	%		8.0	%		8.6	%		12.8	%		12.6	%		45.0	%		45.9	%

Page 7 of 12

THE CHUBB CORPORATION — WORLDWIDE

PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Professional												Total
	Liability						Surety						Specialty
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	570		$	553		$	76		$	77		$	646		$	630
Decrease (Increase) in Unearned Premiums		50			64			5			7			55			71
Net Premiums Earned		620			617			81			84			701			701
Net Losses Paid		387			307			5			8			392			315
Increase (Decrease) in Outstanding Losses		(29	)		82			(3	)		(5	)		(32	)		77
Net Losses Incurred		358			389			2			3			360			392
Expenses Incurred		162			156			28			26			190			182
Dividends Incurred		—			—			1			2			1			2
Statutory Underwriting Income (Loss)	$	100		$	72		$	50		$	53		$	150		$	125
Ratios After Dividends to Policyholders:
Loss		57.8	%		63.1	%		2.5	%		3.6	%		51.4	%		56.1	%
Expense		28.4			28.2			37.3			34.7			29.5			29.0
Combined		86.2	%		91.3	%		39.8	%		38.3	%		80.9	%		85.1	%
Premiums Written as a % of Total		20.6	%		20.2	%		2.7	%		2.8	%		23.3	%		23.0	%

Page 8 of 12

THE CHUBB CORPORATION — WORLDWIDE

PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Total						Reinsurance						Worldwide
	Insurance						Assumed						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	2,763		$	2,733		$	2		$	10		$	2,765		$	2,743
Decrease (Increase) in Unearned Premiums		15			73			2			10			17			83
Net Premiums Earned		2,778			2,806			4			20			2,782			2,826
Net Losses Paid		1,397			1,467			35			42			1,432			1,509
Increase (Decrease) in Outstanding Losses		344			156			(46	)		(50	)		298			106
Net Losses Incurred		1,741			1,623			(11	)		(8	)		1,730			1,615
Expenses Incurred		860			840			2			3			862			843
Dividends Incurred		8			8			—			—			8			8
Statutory Underwriting Income (Loss)	$	169		$	335		$	13		$	25			182			360
Increase in Deferred Acquisition Costs														22			16
GAAP Underwriting Income													$	204		$	376
Ratios After Dividends to Policyholders:
Loss		62.9	%		58.0	%		*	%		*	%		62.3	%		57.3	%
Expense		31.2			30.8			*			*			31.3			30.8
Combined		94.1	%		88.8	%		*	%		*	%		93.6	%		88.1	%
Premiums Written as a % of Total		99.9	%		99.6	%		0.1	%		0.4	%		100.0	%		100.0	%

* Combined, loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

Page 9 of 12

THE CHUBB CORPORATION — WORLDWIDE

PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009
(DOLLARS IN MILLIONS)

							Outside
							the						Worldwide
	United States						United States						Total
	2010			2009			2010			2009			2010			2009
	(Revised)						(Revised)
Net Premiums Written	$	1,948		$	2,037		$	817		$	706		$	2,765		$	2,743
Decrease (Increase) in Unearned Premiums		148			190			(131	)		(107	)		17			83
Net Premiums Earned		2,096			2,227			686			599			2,782			2,826
Net Losses Paid		1,106			1,248			326			261			1,432			1,509
Increase (Decrease) in Outstanding Losses		253			29			45			77			298			106
Net Losses Incurred		1,359			1,277			371			338			1,730			1,615
Expenses Incurred		589			600			273			243			862			843
Dividends Incurred		8			8			—			—			8			8
Statutory Underwriting Income (Loss)	$	140		$	342		$	42		$	18			182			360
Increase in Deferred Acquisition Costs														22			16
GAAP Underwriting Income													$	204		$	376
Ratios After Dividends to Policyholders:
Loss		65.1	%		57.5	%		54.1	%		56.4	%		62.3	%		57.3	%
Expense		30.4			29.6			33.4			34.4			31.3			30.8
Combined		95.5	%		87.1	%		87.5	%		90.8	%		93.6	%		88.1	%
Premiums Written as a % of Total		70.5	%		74.3	%		29.5	%		25.7	%		100.0	%		100.0	%

The Net Losses Incurred amounts have been revised from those originally reported to reflect a reclassification between the United States results and the Outside the United States results. This reclassification had no impact on Worldwide Total results.

Page 10 of 12

THE CHUBB CORPORATION

Definitions of Key Terms

Underwriting Income (Loss)
Management evaluates underwriting results separately from investment results. The underwriting operations consist of four separate business units: personal insurance, commercial insurance, specialty insurance and reinsurance assumed. Performance of the business units is measured based on statutory underwriting results. Statutory accounting principles applicable to property and casualty insurance companies differ in certain respects from generally accepted accounting principles (GAAP). Under statutory accounting principles, policy acquisition and other underwriting expenses are recognized immediately, not at the time premiums are earned. Statutory underwriting income (loss) is arrived at by reducing premiums earned by losses and loss expenses incurred and statutory underwriting expenses incurred.

Management uses underwriting results determined in accordance with GAAP, among other measures, to assess the overall performance of the underwriting operations. To convert statutory underwriting results to a GAAP basis, policy acquisition expenses are deferred and amortized over the period in which the related premiums are earned. Underwriting income (loss) determined in accordance with GAAP is defined as premiums earned less losses and loss expenses incurred and GAAP underwriting expenses incurred.

Property and Casualty Investment Income After Income Tax
Management uses property and casualty investment income after income tax, a non-GAAP financial measure, to evaluate its investment performance because it reflects the impact of any change in the proportion of the investment portfolio invested in tax exempt securities and is therefore more meaningful for analysis purposes than investment income before income taxes.

Book Value per Common Share with Available-for-Sale Fixed Maturities at Amortized Cost
Book value per common share represents the portion of consolidated shareholders’ equity attributable to one share of common stock outstanding as of the balance sheet date. Consolidated shareholders’ equity includes, as part of accumulated other comprehensive income (loss), the after-tax appreciation or depreciation, including unrealized other-than-temporary impairment losses, of the Corporation’s available-for-sale fixed maturities, which are carried at fair value. The appreciation or depreciation of available-for-sale fixed maturities is subject to fluctuation due to changes in interest rates and therefore could distort the analysis of trends. Management believes that book value per common share with available-for-sale fixed maturities at amortized cost, a non-GAAP financial measure, is an important measure of the underlying equity attributable to one share of common stock.

Combined Loss and Expense Ratio or Combined Ratio
The combined loss and expense ratio, expressed as a percentage, is the key measure of underwriting profitability. Management uses the combined loss and expense ratio calculated in accordance with statutory accounting principles applicable to property and casualty insurance companies to evaluate the performance of the underwriting operations. It is the sum of the ratio of losses and loss expenses to premiums earned (loss ratio) plus the ratio of statutory underwriting expenses to premiums written (expense ratio) after reducing both premium amounts by dividends to policyholders.

Page 11 of 12

THE CHUBB CORPORATION

Definitions of Key Terms

Operating Income

Operating income, a non-GAAP financial measure, is net income excluding after-tax realized investment gains and losses. Management uses operating income, among other measures, to evaluate its performance because the realization of investment gains and losses in any given period is largely discretionary as to timing and can fluctuate significantly, which could distort the analysis of trends.

Return on Equity and Operating Return on Equity

Return on equity is the ratio of annualized net income divided by average shareholders’ equity. Average shareholders’ equity is the average of the beginning and all quarter-end balances within the period.

Operating return on equity, a non-GAAP measure, is the ratio of annualized operating income divided by average shareholders’ equity excluding the after-tax unrealized appreciation or depreciation of investments. Consolidated shareholders’ equity includes, as part of accumulated other comprehensive income (loss), the after-tax appreciation or depreciation, including unrealized other-than-temporary impairment losses, of the Corporation’s available-for-sale fixed maturities and equity securities, which are carried at fair value. The appreciation or depreciation of available-for-sale fixed maturities and equity securities is subject to fluctuation and could distort the analysis of trends. Average shareholders’ equity excluding the after-tax unrealized appreciation or depreciation of investments is the average of the beginning and all quarter-end balances within the period. Management uses operating return on equity, among other measures, to assess the overall performance of the Corporation.

	Three Months Ended
	March 31
	2010			2009
	(dollars in milllions)
Annualized Net Income	$	1,856		$	1,364
Average Shareholders’ Equity	$	15,688		$	13,618
Return on Equity		11.8	%		10.0	%
Annualized Operating Income	$	1,524		$	2,056
Average Shareholders’ Equity Excluding Unrealized Appreciation or Depreciation	$	14,589		$	13,598
Operating Return on Equity		10.4	%		15.1	%

Page 12 of 12

EX-99.4

Exhibit 99.4

The	Supplementary	June 30, 2010
Chubb	Investor	(Revised)
Corporation	Information

This report is for informational purposes only. It should be read in conjunction with documents filed by
The Chubb Corporation with the Securities and Exchange Commission, including the most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

THE CHUBB CORPORATION

In October 2010, page 10 of this Supplementary Investor Information Report was revised to reflect a reclassification between the United States results and the Outside the United States results. This reclassification had no impact on Worldwide Total results.

THE CHUBB CORPORATION
SUPPLEMENTARY INVESTOR INFORMATION
TABLE OF CONTENTS
JUNE 30, 2010

	Page
The Chubb Corporation:
Consolidated Balance Sheet Highlights		1
Share Repurchase Activity		2
Summary of Invested Assets:
Corporate		3
Property and Casualty		3
Investment Income After Taxes:
Corporate		4
Property and Casualty		4
Property and Casualty Insurance Group:
Statutory Policyholders’ Surplus		4
Change in Net Unpaid Losses		5
Underwriting Results — Year-To-Date		6-10
Underwriting Results — Quarterly		11-15
Definitions of Key Terms		16-17

THE CHUBB CORPORATION

CONSOLIDATED BALANCE SHEET HIGHLIGHTS

(in millions, except per share amounts)

	June 30						Dec. 31
	2010						2009
				% of Total						% of Total
Invested Assets (at carrying value)
Short Term Investments	$	2,211			5	%	$	1,918			5	%
Fixed Maturities
Tax Exempt		19,629			47			19,587			47
Taxable		16,652			40			16,991			40
Equity Securities		1,263			3			1,433			3
Other Invested Assets		2,240			5			2,075			5
Total Invested Assets	$	41,995			100	%	$	42,004			100	%
Unrealized Appreciation of Investments
Fixed Maturities	$	1,830					$	1,388
Equity Securities		33						218
		1,863						1,606
Deferred Income Tax Liability		652						562
	$	1,211					$	1,044
Capitalization
Long Term Debt	$	3,975					$	3,975
Shareholders’ Equity		15,533						15,634
Total Capitalization	$	19,508					$	19,609
Debt as a Percentage of Total Capitalization		20.4	%					20.3	%
Actual Common Shares Outstanding		314.5						332.0
Book Value Per Common Share	$	49.39					$	47.09
Book Value Per Common Share, with Available-for-Sale Fixed Maturities at Amortized Cost	$	45.61					$	44.37

Page 1 of 17

THE CHUBB CORPORATION

SHARE REPURCHASE ACTIVITY

(dollars in millions, except per share amounts)

	Periods Ended June 30
	Second		Six		From
	Quarter		Months		December 2005
	2010		2010		to June 30, 2010
Cost of Shares Repurchased	$	636	$	980	$	6,932
Average Cost Per Share	$	51.14	$	50.54	$	50.15
Shares Repurchased		12,433,151		19,394,818		138,234,693

In December 2005 and December 2006, the Board of Directors authorized the repurchase of up to 28,000,000 shares and 20,000,000 shares, respectively, of the Corporation’s common stock. In March 2007, the Board of Directors authorized an increase of 20,000,000 shares to the authorization approved in 2006. In December 2007 and 2008, the Board of Directors authorized the repurchase of up to 28,000,000 shares and 20,000,000 shares, respectively, of the Corporation’s common stock. No shares remain under these share repurchase authorizations.

In December 2009, the Board of Directors authorized the repurchase of up to 25,000,000 shares of the Corporation’s common stock. In June 2010, the Board of Directors authorized an increase of 14,000,000 shares to the authorization approved in December 2009. The authorization has no expiration date. As of June 30, 2010, 16,765,307 shares remained under the share repurchase authorization.

Page 2 of 17

THE CHUBB CORPORATION

SUMMARY OF INVESTED ASSETS

CORPORATE

	Cost or				Carrying
	Amortized Cost				Value (a)
	June 30		Dec. 31		June 30		Dec. 31
	2010		2009		2010		2009
	(in millions)
Short Term Investments	$	761	$	1,017	$	761	$	1,017
Taxable Fixed Maturities		1,271		1,286		1,325		1,327
Equity Securities		205		205		148		202
Other Invested Assets		37		25		37		25
TOTAL	$	2,274	$	2,533	$	2,271	$	2,571

PROPERTY AND CASUALTY

	Cost or				Carrying
	Amortized Cost				Value (a)
	June 30		Dec. 31		June 30		Dec. 31
	2010		2009		2010		2009
	(in millions)
Short Term Investments	$	1,450	$	901	$	1,450	$	901
Fixed Maturities
Tax Exempt		18,615		18,720		19,629		19,587
Taxable		14,565		15,184		15,327		15,664
Equity Securities		1,025		1,010		1,115		1,231
Other Invested Assets		2,203		2,050		2,203		2,050
TOTAL	$	37,858	$	37,865	$	39,724	$	39,433

(a) Short term investments are carried at amortized cost, which approximates fair value. Fixed maturities and equity securities are carried at fair value. Other invested assets include private equity limited partnerships carried at Chubb’s equity in the net assets of the partnerships.

Page 3 of 17

THE CHUBB CORPORATION

INVESTMENT INCOME AFTER TAXES

	Periods Ended June 30
	Second Quarter						Six Months
	2010			2009			2010			2009
	(in millions)
CORPORATE INVESTMENT INCOME	$	22		$	9		$	30		$	18
PROPERTY AND CASUALTY INVESTMENT INCOME
Tax Exempt Interest	$	190		$	187		$	379		$	373
Taxable Interest		114			114			235			228
Other		12			15			21			26
Investment Expenses		(5	)		(4	)		(11	)		(9	)
TOTAL	$	311		$	312		$	624		$	618
Effective Tax Rate		19.2	%		19.4	%		19.2	%		19.3	%
After-Tax Annualized Yield		3.26	%		3.42	%		3.26	%		3.41	%

After-tax annualized yield is based on the average invested assets for the periods presented, with fixed maturities at amortized cost and equity securities at fair value.

STATUTORY POLICYHOLDERS’ SURPLUS

	June 30		Dec. 31		June 30
	2010		2009		2009
	(in millions)
Estimated Statutory Policyholders’ Surplus	$	14,400	$	14,526	$	13,300
Rolling Year Statutory Net Premiums Written	$	11,151	$	11,074	$	11,366
Ratio of Statutory Net Premiums Written to Policyholders’ Surplus		0.77:1		0.76:1		0.85:1

Statutory Policyholders’ Surplus and Net Premiums Written include all domestic and foreign property and casualty subsidiaries.

Page 4 of 17

THE CHUBB CORPORATION

PROPERTY AND CASUALTY

CHANGE IN NET UNPAID LOSSES
SIX MONTHS ENDED JUNE 30, 2010

											All Other
	Net Unpaid Losses							IBNR			Unpaid Losses
					Increase			Increase			Increase
	6/30/10		12/31/09		(Decrease)			(Decrease)			(Decrease)
					(in millions)
Personal Insurance
Automobile	$	395	$	400	$	(5	)	$	(15	)	$	10
Homeowners		786		665		121			87			34
Other		854		872		(18	)		22			(40	)
Total Personal		2,035		1,937		98			94			4
Commercial Insurance
Multiple Peril		1,715		1,615		100			89			11
Casualty		6,034		5,988		46			104			(58	)
Workers’ Compensation		2,162		2,138		24			31			(7	)
Property and Marine		805		758		47			42			5
Total Commercial		10,716		10,499		217			266			(49	)
Specialty Insurance
Professional Liability		7,371		7,552		(181	)		(96	)		(85	)
Surety		63		58		5			—			5
Total Specialty		7,434		7,610		(176	)		(96	)		(80	)
Total Insurance		20,185		20,046		139			264			(125	)
Reinsurance Assumed		667		740		(73	)		(55	)		(18	)
Total	$	20,852	$	20,786	$	66		$	209		$	(143	)

Page 5 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Personal												Other						Total
	Automobile						Homeowners						Personal						Personal
	2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	314		$	278		$	1,164		$	1,151		$	404		$	375		$	1,882		$	1,804
Decrease (Increase) in Unearned Premiums		(10	)		4			13			35			(27	)		(19	)		(24	)		20
Net Premiums Earned		304			282			1,177			1,186			377			356			1,858			1,824
Net Losses Paid		191			167			705			651			220			195			1,116			1,013
Increase (Decrease) in Outstanding Losses		(6	)		5			122			(42	)		(7	)		30			109			(7	)
Net Losses Incurred		185			172			827			609			213			225			1,225			1,006
Expenses Incurred		94			81			390			379			131			115			615			575
Dividends Incurred		—			—			—			—			—			—			—			—
Statutory Underwriting Income (Loss)	$	25		$	29		$	(40	)	$	198		$	33		$	16		$	18		$	243
Ratios After Dividends to Policyholders:
Loss		60.9	%		61.0	%		70.3	%		51.4	%		56.5	%		63.2	%		65.9	%		55.1	%
Expense		29.9			29.1			33.5			32.9			32.4			30.7			32.7			31.9
Combined		90.8	%		90.1	%		103.8	%		84.3	%		88.9	%		93.9	%		98.6	%		87.0	%
Premiums Written as a % of Total		5.6	%		5.0	%		20.6	%		20.6	%		7.1	%		6.7	%		33.3	%		32.3	%

Page 6 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

													Commercial						Commercial
	Commercial						Commercial						Workers’						Property						Total
	Multiple Peril						Casualty						Compensation						and Marine						Commercial
	2010			2009			2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	540		$	561		$	812		$	815		$	409		$	424		$	691		$	673		$	2,452		$	2,473
Decrease (Increase) in Unearned Premiums		16			21			(49	)		(25	)		(40	)		(15	)		(63	)		(61	)		(136	)		(80	)
Net Premiums Earned		556			582			763			790			369			409			628			612			2,316			2,393
Net Losses Paid		259			273			373			398			201			192			302			365			1,135			1,228
Increase (Decrease) in Outstanding Losses		107			(6	)		100			153			37			71			58			(45	)		302			173
Net Losses Incurred		366			267			473			551			238			263			360			320			1,437			1,401
Expenses Incurred		204			207			225			228			95			97			231			228			755			760
Dividends Incurred		—			—			—			—			13			11			—			—			13			11
Statutory Underwriting Income (Loss)	$	(14	)	$	108		$	65		$	11		$	23		$	38		$	37		$	64		$	111		$	221
Ratios After Dividends to Policyholders:
Loss		65.8	%		45.9	%		62.0	%		69.7	%		66.8	%		66.1	%		57.4	%		52.3	%		62.4	%		58.8	%
Expense		37.8			36.9			27.7			28.0			24.0			23.5			33.4			33.9			31.0			30.9
Combined		103.6	%		82.8	%		89.7	%		97.7	%		90.8	%		89.6	%		90.8	%		86.2	%		93.4	%		89.7	%
Premiums Written as a % of Total		9.6	%		10.0	%		14.4	%		14.6	%		7.2	%		7.6	%		12.2	%		12.0	%		43.4	%		44.2	%

Page 7 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Professional												Total
	Liability						Surety						Specialty
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	1,153		$	1,137		$	159		$	162		$	1,312		$	1,299
Decrease (Increase) in Unearned Premiums		79			98			8			9			87			107
Net Premiums Earned		1,232			1,235			167			171			1,399			1,406
Net Losses Paid		794			677			8			14			802			691
Increase (Decrease) in Outstanding Losses		(70	)		111			4			(8	)		(66	)		103
Net Losses Incurred		724			788			12			6			736			794
Expenses Incurred		322			305			57			55			379			360
Dividends Incurred		—			—			3			4			3			4
Statutory Underwriting Income (Loss)	$	186		$	142		$	95		$	106		$	281		$	248
Ratios After Dividends to Policyholders:
Loss		58.8	%		63.8	%		7.3	%		3.6	%		52.7	%		56.6	%
Expense		27.9			26.8			36.6			34.8			29.0			27.8
Combined		86.7	%		90.6	%		43.9	%		38.4	%		81.7	%		84.4	%
Premiums Written as a % of Total		20.4	%		20.4	%		2.8	%		2.9	%		23.2	%		23.3	%

Page 8 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Total						Reinsurance						Worldwide
	Insurance						Assumed						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	5,646		$	5,576		$	5		$	13		$	5,651		$	5,589
Decrease (Increase) in Unearned Premiums		(73	)		47			3			18			(70	)		65
Net Premiums Earned		5,573			5,623			8			31			5,581			5,654
Net Losses Paid		3,053			2,932			65			84			3,118			3,016
Increase (Decrease) in Outstanding Losses		345			269			(73	)		(98	)		272			171
Net Losses Incurred		3,398			3,201			(8	)		(14	)		3,390			3,187
Expenses Incurred		1,749			1,695			2			5			1,751			1,700
Dividends Incurred		16			15			—			—			16			15
Statutory Underwriting Income (Loss)	$	410		$	712		$	14		$	40			424			752
Increase in Deferred Acquisition Costs														43			20
GAAP Underwriting Income													$	467		$	772
Ratios After Dividends to Policyholders:
Loss		61.1	%		57.1	%		*	%		*	%		60.9	%		56.5	%
Expense		31.1			30.5			*			*			31.1			30.5
Combined		92.2	%		87.6	%		*	%		*	%		92.0	%		87.0	%
Premiums Written as a % of Total		99.9	%		99.8	%		0.1	%		0.2	%		100.0	%		100.0	%

* Combined, loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

Page 9 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

							Outside
							the						Worldwide
	United States						United States						Total
	2010			2009			2010			2009			2010			2009
	(Revised)						(Revised)
Net Premiums Written	$	4,147		$	4,266		$	1,504		$	1,323		$	5,651		$	5,589
Decrease (Increase) in Unearned Premiums		26			142			(96	)		(77	)		(70	)		65
Net Premiums Earned		4,173			4,408			1,408			1,246			5,581			5,654
Net Losses Paid		2,466			2,486			652			530			3,118			3,016
Increase (Decrease) in Outstanding Losses		238			(5	)		34			176			272			171
Net Losses Incurred		2,704			2,481			686			706			3,390			3,187
Expenses Incurred		1,223			1,231			528			469			1,751			1,700
Dividends Incurred		16			15			—			—			16			15
Statutory Underwriting Income (Loss)	$	230		$	681		$	194		$	71			424			752
Increase in Deferred Acquisition Costs														43			20
GAAP Underwriting Income													$	467		$	772
Ratios After Dividends to Policyholders:
Loss		65.0	%		56.5	%		48.7	%		56.7	%		60.9	%		56.5	%
Expense		29.6			29.0			35.1			35.4			31.1			30.5
Combined		94.6	%		85.5	%		83.8	%		92.1	%		92.0	%		87.0	%
Premiums Written as a % of Total		73.4	%		76.3	%		26.6	%		23.7	%		100.0	%		100.0	%

The Net Losses Incurred amounts have been revised from those originally reported to reflect a reclassification between the United States results and the Outside the United States results. This reclassification had no impact on Worldwide Total results.

Page 10 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Personal												Other						Total
	Automobile						Homeowners						Personal						Personal
	2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	168		$	147		$	647		$	637		$	193		$	177		$	1,008		$	961
Decrease (Increase) in Unearned Premiums		(14	)		(5	)		(60	)		(45	)		(1	)		6			(75	)		(44	)
Net Premiums Earned		154			142			587			592			192			183			933			917
Net Losses Paid		97			82			429			303			121			94			647			479
Increase (Decrease) in Outstanding Losses		(3	)		6			(63	)		(12	)		(12	)		14			(78	)		8
Net Losses Incurred		94			88			366			291			109			108			569			487
Expenses Incurred		49			42			208			201			65			56			322			299
Dividends Incurred		—			—			—			—			—			—			—			—
Statutory Underwriting Income	$	11		$	12		$	13		$	100		$	18		$	19		$	42		$	131
Ratios After Dividends to Policyholders:
Loss		61.0	%		62.0	%		62.4	%		49.2	%		56.8	%		59.0	%		61.0	%		53.1	%
Expense		29.2			28.5			32.1			31.5			33.7			31.7			31.9			31.1
Combined		90.2	%		90.5	%		94.5	%		80.7	%		90.5	%		90.7	%		92.9	%		84.2	%
Premiums Written as a % of Total		5.8	%		5.2	%		22.4	%		22.3	%		6.7	%		6.2	%		34.9	%		33.7	%

Page 11 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

													Commercial						Commercial
	Commercial						Commercial						Workers’						Property						Total
	Multiple Peril						Casualty						Compensation						and Marine						Commercial
	2010			2009			2010			2009			2010			2009			2010			2009			2010			2009
Net Premiums Written	$	286		$	292		$	398		$	406		$	187		$	188		$	338		$	327		$	1,209		$	1,213
Decrease (Increase) in Unearned Premiums		1			(3	)		(21	)		(13	)		(4	)		15			(21	)		(17	)		(45	)		(18	)
Net Premiums Earned		287			289			377			393			183			203			317			310			1,164			1,195
Net Losses Paid		130			122			198			202			108			103			163			183			599			610
Increase (Decrease) in Outstanding Losses		40			4			41			52			8			29			24			(6	)		113			79
Net Losses Incurred		170			126			239			254			116			132			187			177			712			689
Expenses Incurred		103			106			110			114			47			46			118			112			378			378
Dividends Incurred		—			—			—			—			6			5			—			—			6			5
Statutory Underwriting Income	$	14		$	57		$	28		$	25		$	14		$	20		$	12		$	21		$	68		$	123
Ratios After Dividends to Policyholders:
Loss		59.2	%		43.6	%		63.4	%		64.6	%		65.5	%		66.7	%		59.0	%		57.1	%		61.5	%		57.9	%
Expense		36.0			36.3			27.6			28.1			26.0			25.1			34.9			34.3			31.4			31.3
Combined		95.2	%		79.9	%		91.0	%		92.7	%		91.5	%		91.8	%		93.9	%		91.4	%		92.9	%		89.2	%
Premiums Written as a % of Total		9.9	%		10.3	%		13.8	%		14.3	%		6.5	%		6.6	%		11.7	%		11.5	%		41.9	%		42.7	%

Page 12 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Professional												Total
	Liability						Surety						Specialty
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	583		$	584		$	83		$	85		$	666		$	669
Decrease (Increase) in Unearned Premiums		29			34			3			2			32			36
Net Premiums Earned		612			618			86			87			698			705
Net Losses Paid		407			370			3			6			410			376
Increase (Decrease) in Outstanding Losses		(41	)		29			7			(3	)		(34	)		26
Net Losses Incurred		366			399			10			3			376			402
Expenses Incurred		160			149			29			29			189			178
Dividends Incurred		—			—			2			2			2			2
Statutory Underwriting Income	$	86		$	70		$	45		$	53		$	131		$	123
Ratios After Dividends to Policyholders:
Loss		59.8	%		64.6	%		11.9	%		3.5	%		54.0	%		57.2	%
Expense		27.4			25.5			35.8			35.0			28.5			26.7
Combined		87.2	%		90.1	%		47.7	%		38.5	%		82.5	%		83.9	%
Premiums Written as a % of Total		20.2	%		20.5	%		2.9	%		3.0	%		23.1	%		23.5	%

Page 13 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

	Total						Reinsurance						Worldwide
	Insurance						Assumed						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	2,883		$	2,843		$	3		$	3		$	2,886		$	2,846
Decrease (Increase) in Unearned Premiums		(88	)		(26	)		1			8			(87	)		(18	)
Net Premiums Earned		2,795			2,817			4			11			2,799			2,828
Net Losses Paid		1,656			1,465			30			42			1,686			1,507
Increase (Decrease) in Outstanding Losses		1			113			(27	)		(48	)		(26	)		65
Net Losses Incurred		1,657			1,578			3			(6	)		1,660			1,572
Expenses Incurred		889			855			—			2			889			857
Dividends Incurred		8			7			—			—			8			7
Statutory Underwriting Income	$	241		$	377		$	1		$	15			242			392
Increase in Deferred Acquisition Costs														21			4
GAAP Underwriting Income													$	263		$	396
Ratios After Dividends to Policyholders:
Loss		59.5	%		56.2	%		*	%		*	%		59.5	%		55.7	%
Expense		30.9			30.1			*			*			30.9			30.2
Combined		90.4	%		86.3	%		*	%		*	%		90.4	%		85.9	%
Premiums Written as a % of Total		99.9	%		99.9	%		0.1	%		0.1	%		100.0	%		100.0	%

* Combined, loss and expense ratios are no longer presented for Reinsurance Assumed since this business is in run-off.

Page 14 of 17

THE CHUBB CORPORATION — WORLDWIDE
PROPERTY AND CASUALTY UNDERWRITING RESULTS
FOR THE QUARTERS ENDED JUNE 30, 2010 AND 2009
(DOLLARS IN MILLIONS)

							Outside
							the						Worldwide
	United States						United States						Total
	2010			2009			2010			2009			2010			2009
Net Premiums Written	$	2,199		$	2,229		$	687		$	617		$	2,886		$	2,846
Decrease (Increase) in Unearned Premiums		(122	)		(48	)		35			30			(87	)		(18	)
Net Premiums Earned		2,077			2,181			722			647			2,799			2,828
Net Losses Paid		1,360			1,238			326			269			1,686			1,507
Increase (Decrease) in Outstanding Losses		(15	)		(34	)		(11	)		99			(26	)		65
Net Losses Incurred		1,345			1,204			315			368			1,660			1,572
Expenses Incurred		634			631			255			226			889			857
Dividends Incurred		8			7			—			—			8			7
Statutory Underwriting Income	$	90		$	339		$	152		$	53			242			392
Increase in Deferred Acquisition Costs														21			4
GAAP Underwriting Income													$	263		$	396
Ratios After Dividends to Policyholders:
Loss		65.0	%		55.4	%		43.6	%		56.9	%		59.5	%		55.7	%
Expense		28.9			28.4			37.1			36.6			30.9			30.2
Combined		93.9	%		83.8	%		80.7	%		93.5	%		90.4	%		85.9	%
Premiums Written as a % of Total		76.2	%		78.3	%		23.8	%		21.7	%		100.0	%		100.0	%

Page 15 of 17

THE CHUBB CORPORATION

Definitions of Key Terms

Underwriting Income (Loss)

Management evaluates underwriting results separately from investment results. The underwriting operations consist of four separate business units: personal insurance, commercial insurance, specialty insurance and reinsurance assumed. Performance of the business units is measured based on statutory underwriting results. Statutory accounting principles applicable to property and casualty insurance companies differ in certain respects from generally accepted accounting principles (GAAP). Under statutory accounting principles, policy acquisition and other underwriting expenses are recognized immediately, not at the time premiums are earned. Statutory underwriting income (loss) is arrived at by reducing premiums earned by losses and loss expenses incurred and statutory underwriting expenses incurred.

Management uses underwriting results determined in accordance with GAAP, among other measures, to assess the overall performance of the underwriting operations. To convert statutory underwriting results to a GAAP basis, policy acquisition expenses are deferred and amortized over the period in which the related premiums are earned. Underwriting income (loss) determined in accordance with GAAP is defined as premiums earned less losses and loss expenses incurred and GAAP underwriting expenses incurred.

Property and Casualty Investment Income After Income Tax

Management uses property and casualty investment income after income tax, a non-GAAP financial measure, to evaluate its investment performance because it reflects the impact of any change in the proportion of the investment portfolio invested in tax exempt securities and is therefore more meaningful for analysis purposes than investment income before income taxes.

Book Value per Common Share with Available-for-Sale Fixed Maturities at Amortized Cost

Book value per common share represents the portion of consolidated shareholders’ equity attributable to one share of common stock outstanding as of the balance sheet date. Consolidated shareholders’ equity includes, as part of accumulated other comprehensive income (loss), the after-tax appreciation or depreciation, including unrealized other-than-temporary impairment losses, of the Corporation’s available-for-sale fixed maturities, which are carried at fair value. The appreciation or depreciation of available-for-sale fixed maturities is subject to fluctuation due to changes in interest rates and therefore could distort the analysis of trends. Management believes that book value per common share with available-for-sale fixed maturities at amortized cost, a non-GAAP financial measure, is an important measure of the underlying equity attributable to one share of common stock.

Combined Loss and Expense Ratio or Combined Ratio

The combined loss and expense ratio, expressed as a percentage, is the key measure of underwriting profitability. Management uses the combined loss and expense ratio calculated in accordance with statutory accounting principles applicable to property and casualty insurance companies to evaluate the performance of the underwriting operations. It is the sum of the ratio of losses and loss expenses to premiums earned (loss ratio) plus the ratio of statutory underwriting expenses to premiums written (expense ratio) after reducing both premium amounts by dividends to policyholders.

Page 16 of 17

THE CHUBB CORPORATION

Definitions of Key Terms

Operating Income

Operating income, a non-GAAP financial measure, is net income excluding after-tax realized investment gains and losses. Management uses operating income, among other measures, to evaluate its performance because the realization of investment gains and losses in any given period is largely discretionary as to timing and can fluctuate significantly, which could distort the analysis of trends.

Return on Equity and Operating Return on Equity

Return on equity is the ratio of annualized net income divided by average shareholders’ equity. Average shareholders’ equity is the average of the beginning and all quarter-end balances within the period.

Operating return on equity, a non-GAAP measure, is the ratio of annualized operating income divided by average shareholders’ equity excluding the after-tax unrealized appreciation or depreciation of investments. Consolidated shareholders’ equity includes, as part of accumulated other comprehensive income (loss), the after-tax appreciation or depreciation, including unrealized other-than-temporary impairment losses, of the Corporation’s available-for-sale fixed maturities and equity securities, which are carried at fair value. The appreciation or depreciation of available-for-sale fixed maturities and equity securities is subject to fluctuation and could distort the analysis of trends. Average shareholders’ equity excluding the after-tax unrealized appreciation or depreciation of investments is the average of the beginning and all quarter-end balances within the period. Management uses operating return on equity, among other measures, to assess the overall performance of the Corporation.

	Periods Ended June 30
	Second Quarter						Six Months
	2010			2009			2010			2009
				(dollars in millions)
Annualized Net Income	$	2,072		$	2,204		$	1,964		$	1,784
Average Shareholders’ Equity	$	15,637		$	14,154		$	15,636		$	13,913
Return on Equity		13.3	%		15.6	%		12.6	%		12.8	%
Annualized Operating Income	$	1,840		$	2,132		$	1,682		$	2,094
Average Shareholders’ Equity Excluding Unrealized Appreciation	$	14,455		$	13,896		$	14,500		$	13,789
Operating Return on Equity		12.7	%		15.3	%		11.6	%		15.2	%

Page 17 of 17