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Exhibit 99.2

The                                               Supplementary                                      March 31, 2007
Chubb                                             Investor
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
                                          SUPPLEMENTARY INVESTOR INFORMATION
                                                  TABLE OF CONTENTS
                                                     MARCH 31, 2007

                                                                               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
THE CHUBB CORPORATION
                                        CONSOLIDATED BALANCE SHEET HIGHLIGHTS

                                                                                Mar. 31                   Dec. 31
                                                                                 2007                      2006
                                                                                          (in millions)
Invested Assets (at carrying value)
  Short Term Investments                                                        $ 2,360               $ 2,254
  Fixed Maturities
     Tax Exempt                                                                  18,126                17,748
     Taxable                                                                     14,495                14,218
  Equity Securities                                                               2,037                 1,957
  Other Invested Assets                                                           1,655                 1,516
                                                                                $38,673               $37,693
     Total Invested Assets

Unrealized Appreciation of Fixed Maturities Carried at Amortized Cost           $      7              $         7

Capitalization
  Long Term Debt                                                                $ 3,335               $ 2,466
  Shareholders’ Equity                                                           13,873                13,863
                                                                                $17,208               $16,329
     Total Capitalization

                                                                                     19.4%                   15.1%
DEBT AS A PERCENTAGE OF TOTAL CAPITALIZATION

                                                                                    401.5                  411.3
Actual Common Shares Outstanding

                                                                                $ 34.55               $ 33.71
Book Value Per Common Share

Book Value Per Common Share, with
  Available-for-Sale Fixed Maturities at Amortized Cost                         $ 34.28               $ 33.38

                                                               Page 1 of 11
THE CHUBB CORPORATION
                                                  SHARE REPURCHASE ACTIVITY
                                               (dollars in millions, except per share amounts)

                                                                                                           Three Months          From
                                                                                                              Ended          December 2005
                                                                                                           March 31, 2007   to March 31, 2007
Cost of Shares Repurchased                                                                                        $605                $1,997

Average Cost Per Share                                                                                          $51.12                $49.94

Shares Repurchased                                                                                          11,835,577        39,989,639
In December 2005, the Board of Directors authorized the repurchase of up to 28,000,000 shares of the Corporation’s common stock. No shares
remain under the 2005 share repurchase authorization.
In December 2006, the Board of Directors authorized the repurchase of up to 20,000,000 shares 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 December 2006. The
authorizations have no expiration date. As of March 31, 2007, 28,010,361 shares remained under the share repurchase authorizations.

                                                                Page 2 of 11
THE CHUBB CORPORATION
                              SUMMARY OF INVESTED ASSETS
                                           CORPORATE

                                    Cost or                             Market                             Carrying
                                 Amortized Cost                         Value                               Value
                           Mar. 31           Dec. 31        Mar. 31                   Dec. 31   Mar. 31                Dec. 31
                            2007                2006         2007                      2006      2007                   2006
                                                                      (in millions)
Short Term Investments     $ 1,294          $     793       $ 1,294               $       793   $ 1,294               $     793

Taxable Fixed Maturities     1,133               1,160        1,115                     1,138     1,115                    1,138

Equity Securities              289                289           408                       416       408                     416

  TOTAL                    $ 2,716          $ 2,242         $ 2,817               $ 2,347       $ 2,817               $ 2,347


                                 PROPERTY AND CASUALTY

                                    Cost or                             Market                             Carrying
                                 Amortized Cost                         Value                               Value
                           Mar. 31           Dec. 31        Mar. 31                   Dec. 31   Mar. 31                Dec. 31
                            2007                2006         2007                      2006      2007                   2006
                                                                      (in millions)
Short Term Investments     $ 1,066          $ 1,461         $ 1,066               $ 1,461       $ 1,066               $ 1,461

Fixed Maturities

  Tax Exempt                17,865              17,449       18,133                   17,755     18,126                   17,748

  Taxable                   13,452              13,150       13,380                   13,080     13,380                   13,080

Common Stocks                1,294               1,235        1,584                     1,502     1,584                    1,502

Preferred Stocks                41                 37            45                        39        45                      39

Other Invested Assets        1,655               1,516        1,655                     1,516     1,655                    1,516

     TOTAL                 $ 35,373         $ 34,848        $ 35,863              $ 35,353      $ 35,856              $ 35,346

                                             Page 3 of 11
THE CHUBB CORPORATION
                                                 INVESTMENT INCOME AFTER TAXES

                                                                                                                     THREE MONTHS ENDED
                                                                                                                           MARCH 31
                                                                                                                      2007               2006
                                                                                                                           (in millions)
                                                                                                                         $ 14             $ 15
CORPORATE INVESTMENT INCOME

PROPERTY AND CASUALTY INVESTMENT INCOME

  Tax Exempt Interest                                                                                                    $178             $164
  Taxable Interest                                                                                                        118              111
  Other                                                                                                                    16               10
  Investment Expenses                                                                                                      (7)              (6)
     TOTAL                                                                                                               $305             $279

                                                                                                                         19.9%             19.8%
  Effective Tax Rate

                                                                                                                         3.45%             3.45%
  After Tax Annualized Yield

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 market value.

                                               STATUTORY POLICYHOLDERS’ SURPLUS

                                                                                                     Mar. 31             Dec. 31         Mar. 31
                                                                                                      2007                2006            2006
                                                                                                                      (in millions)
Estimated Statutory Policyholders’ Surplus                                                           $11,950            $11,357          $9,650

Rolling Year Statutory Net Premiums Written                                                           11,899              11,967         12,112

Ratio of Statutory Net Premiums Written to Policyholders’ Surplus                                      1.00:1              1.05:1         1.26:1

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

                                                                  Page 4 of 11
THE CHUBB CORPORATION
                                PROPERTY AND CASUALTY
                             CHANGE IN NET UNPAID LOSSES
                           THREE MONTHS ENDED MARCH 31, 2007

                                                      Net Unpaid Losses                                  All Other
                                                                                            IBNR       Unpaid Losses
                                                                            Increase       Increase      Increase
                                           3/31/07        12/31/06         (Decrease)     (Decrease)    (Decrease)
                                                                          (in millions)
Personal Insurance

  Automobile                              $     423       $      425            (2)         $    3            (5)
  Homeowners                                    642              665           (23)             (4)          (19)
  Other                                         674              657            17              36           (19)
    Total Personal                            1,739            1,747            (8)             35           (43)

Commercial Insurance

  Multiple Peril                              1,588            1,593            (5)           16             (21)
  Casualty                                    5,268            5,213            55            84             (29)
  Workers’ Compensation                       1,781            1,740            41            46              (5)
  Property and Marine                           702              678            24            16               8
    Total Commercial                          9,339            9,224           115           162             (47)

Specialty Insurance

  Professional Liability                    7,351              7,288            63           147            (84)
  Surety                                       59                 59            —             —              —
     Total Specialty                        7,410              7,347            63           147            (84)
     Total Insurance                       18,488             18,318           170           344           (174)

                                              1,331            1,381           (50)             (42)          (8)
Reinsurance Assumed

                                          $19,819         $19,699            $120           $302          $(182)
  Total

                                       Page 5 of 11
THE CHUBB CORPORATION — WORLDWIDE
                                   PROPERTY AND CASUALTY UNDERWRITING RESULTS
                                 FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
                                               (MILLIONS OF DOLLARS)

                                         Personal                                                         Other                               Total
                                        Automobile                        Homeowners                     Personal                            Personal
                                 2007                2006             2007          2006          2007              2006             2007               2006
Net Premiums Written         $     147          $      155        $     520       $   488     $     173         $     149        $     840          $     792
Increase (Decrease) in
   Unearned Premiums               (18)                     (9)         (55)          (46)           19                10              (54)               (45)

Net Premiums Earned                165                 164              575           534           154               139              894                837

Net Losses Paid                    110                  98              243           236            80                87              433                421
Increase (Decrease) in
   Outstanding Losses                   (2)                 3           (23)          (13)           17                    (2)              (8)           (12)

Net Losses Incurred                108                 101              220           223            97                85              425                409

Expenses Incurred                   44                  44              171           156            52                44              267                244

Dividends Incurred                  —                   —                —             —             —                 —                —                  —

Statutory Underwriting
   Income                    $      13          $       19        $     184       $   155     $          5      $      10        $     202          $     184

Ratios After Dividends to
  Policyholders:

Loss                              65.5%               61.6%            38.2%          41.7%        63.0%             61.2%            47.5%              48.9%
Expense                           29.9                28.4             32.9           32.0         30.1              29.5             31.8               30.8

Combined                          95.4%               90.0%            71.1%          73.7%        93.1%             90.7%            79.3%              79.7%

Premiums Written as a % of
   Total                            5.1%                5.3%           18.1%          16.7%          6.0%              5.1%           29.2%              27.1%

                                                                       Page 6 of 11
THE CHUBB CORPORATION — WORLDWIDE
                                           PROPERTY AND CASUALTY UNDERWRITING RESULTS
                                         FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
                                                       (MILLIONS OF DOLLARS)
                                                                                            Commercial              Commercial
                                         Commercial              Commercial                  Workers’                Property                   Total
                                        Multiple Peril             Casualty                Compensation             and Marine               Commercial
                                      2007         2006       2007         2006          2007       2006         2007        2006        2007          2006
Net Premiums Written                 $ 307        $ 326      $ 441        $ 440         $ 257      $ 256        $ 301       $ 303       $ 1,306       $ 1,325
Increase (Decrease) in Unearned
   Premiums                              (13)         (1)         12            5            29          26           1          16         29            46

Net Premiums Earned                      320         327         429          435           228         230         300         287      1,277         1,279

Net Losses Paid                          160         129         230          191            86          82         145         150        621           552
Increase (Decrease) in Outstanding
   Losses                                 (5)         (3)         55           99            41          49          24         (57)       115            88

Net Losses Incurred                      155         126         285          290           127         131         169          93        736           640

Expenses Incurred                        107         104         123          122            52          49         111         101        393           376

Dividends Incurred                        —           —           —            —              4           7          —           —           4             7

Statutory Underwriting Income        $    58     $    97     $    21      $    23       $    45     $    43     $    20     $    93     $ 144         $ 256

Ratios After Dividends to
   Policyholders:

Loss                                     48.4%       38.5%       66.4%        66.7%         56.7%       58.7%       56.3%       32.4%     57.8 %        50.3%
Expense                                  34.9        31.9        27.9         27.7          20.6        19.7        36.9        33.3      30.2          28.5

Combined                                 83.3%       70.4%       94.3%        94.4%         77.3%       78.4%       93.2%       65.7%     88.0 %        78.8%

Premiums Written as a % of Total         10.7%       11.1%       15.4%        15.0%         9.0 %       8.8%        10.5%       10.4%     45.6 %        45.3%


                                                                         Page 7 of 11
THE CHUBB CORPORATION – WORLDWIDE
                                     PROPERTY AND CASUALTY UNDERWRITING RESULTS
                                     FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND
                                                 (MILLIONS OF DOLLARS)

                                                     Professional                                                                           Total
                                                      Liability                                   Surety                                   Specialty
                                              2007                  2006               2007                    2006             2007                       2006
Net Premiums Written                      $     597             $      615         $      84               $      65        $     681                  $     680
Increase (Decrease) in Unearned
   Premiums                                     (66)                   (70)                   6                       1           (60)                       (69)

Net Premiums Earned                             663                    685                78                      64              741                        749

Net Losses Paid                                 354                    236                    1                       (1)         355                        235
Increase (Decrease) in Outstanding
   Losses                                        63                    244                —                           3            63                        247

Net Losses Incurred                             417                    480                    1                       2           418                        482

Expenses Incurred                               156                    157                25                      22              181                        179

Dividends Incurred                               —                      —                     1                   —                    1                      —

Statutory Underwriting Income             $      90             $       48         $      51               $      40        $     141                  $      88

Ratios After Dividends to
  Policyholders:

Loss                                           62.9%                  70.1%              1.3%                    3.1%            56.5%                      64.4%
Expense                                        26.1                   25.5              30.1                    33.9             26.6                       26.3

Combined                                       89.0%                  95.6%             31.4%                   37.0%            83.1%                      90.7%

Premiums Written as a % of Total               20.9%                  21.0%               2.9 %                   2.2%           23.8%                      23.2%

                                                                    Page 8 of 11
THE CHUBB CORPORATION – WORLDWIDE
                                       PROPERTY AND CASUALTY UNDERWRITING RESULTS
                                     FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
                                                   (MILLIONS OF DOLLARS)

                                                               Total                                   Reinsurance                            Worldwide
                                                             Insurance                                  Assumed                                Total
                                                  2007                       2006               2007                 2006             2007                2006
Net Premiums Written                          $ 2,827                    $ 2,797            $      40            $     128        $ 2,867             $ 2,925
Increase (Decrease) in Unearned
   Premiums                                         (85)                        (68)              (33)                 (26)            (118)                (94)

Net Premiums Earned                               2,912                       2,865                73                  154            2,985               3,019

Net Losses Paid                                   1,409                       1,208                51                   92            1,460               1,300
Increase (Decrease) in Outstanding
   Losses                                           170                         323               (50)                      (5)         120                 318

Net Losses Incurred                               1,579                       1,531                    1                87            1,580               1,618

Expenses Incurred                                   841                         799                29                   51              870                 850

Dividends Incurred                                       5                          7              —                    —                    5                   7

Statutory Underwriting Income                 $     487                  $      528         $      43            $      16              530                 544

Decrease in Deferred Acquisition Costs                                                                                                       (3)                 (8)

GAAP Underwriting Income                                                                                                          $     527           $     536

Ratios After Dividends to
  Policyholders:

Loss                                               54.3%                       53.6%                   *                    *          53.0%               53.8%
Expense                                            29.8                        28.6                    *                    *          30.4                29.1

Combined                                           84.1%                       82.2%                   *                    *          83.4%               82.9%

Premiums Written as a % of Total                   98.6%                       95.6%               1.4%                 4.4%          100.0 %             100.0%


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

                                                                             Page 9 of 11
THE CHUBB CORPORATION – WORLDWIDE
                                       PROPERTY AND CASUALTY UNDERWRITING RESULTS
                                     FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
                                                   (MILLIONS OF DOLLARS)

                                                                                                                                     Worldwide
                                                       United States                              Foreign                             Total
                                                2007                   2006            2007                     2006         2007                2006
Net Premiums Written                        $ 2,166               $ 2,268          $     701                $     657    $ 2,867             $ 2,925
Increase (Decrease) in Unearned
   Premiums                                      (183)                  (176)             65                       82         (118)                (94)
Net Premiums Earned                             2,349                  2,444             636                      575        2,985               3,019

Net Losses Paid                                 1,167                  1,093             293                      207        1,460               1,300
Increase (Decrease) in Outstanding
   Losses                                         113                    237                  7                    81          120                 318

Net Losses Incurred                             1,280                  1,330             300                      288        1,580               1,618

Expenses Incurred                                 623                    621             247                      229          870                 850

Dividends Incurred                                     5                      7           —                        —                5                   7

Statutory Underwriting Income               $     441             $      486       $      89                $      58          530                 544

Decrease in Deferred Acquisition Costs                                                                                              (3)                 (8)

GAAP Underwriting Income                                                                                                 $     527           $     536

Ratios After Dividends to
  Policyholders:

Loss                                             54.6%                  54.6%           47.2%                    50.1%        53.0%               53.8%
Expense                                          28.8                   27.5            35.2                     34.9         30.4                29.1

Combined                                         83.4%                  82.1%           82.4%                    85.0%        83.4%               82.9%

Premiums Written as a % of Total                 75.5%                  77.5%           24.5%                    22.5%       100.0 %             100.0%

                                                                   Page 10 of 11
THE CHUBB CORPORATION
Definitions of Key Terms
Underwriting Income (Loss)
Management evaluates underwriting results separately from investment results. The underwriting operations consistof 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, the
after-tax appreciation or depreciation on the Corporation’s available-for-sale fixed maturities, which are carried at market value. The
appreciation or depreciation on 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 Ratio or Combined Loss and Expense 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 11

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chubb 6776 Supplementary Investor Information

  • 1. Exhibit 99.2 The Supplementary March 31, 2007 Chubb Investor 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.
  • 2. THE CHUBB CORPORATION SUPPLEMENTARY INVESTOR INFORMATION TABLE OF CONTENTS MARCH 31, 2007 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
  • 3. THE CHUBB CORPORATION CONSOLIDATED BALANCE SHEET HIGHLIGHTS Mar. 31 Dec. 31 2007 2006 (in millions) Invested Assets (at carrying value) Short Term Investments $ 2,360 $ 2,254 Fixed Maturities Tax Exempt 18,126 17,748 Taxable 14,495 14,218 Equity Securities 2,037 1,957 Other Invested Assets 1,655 1,516 $38,673 $37,693 Total Invested Assets Unrealized Appreciation of Fixed Maturities Carried at Amortized Cost $ 7 $ 7 Capitalization Long Term Debt $ 3,335 $ 2,466 Shareholders’ Equity 13,873 13,863 $17,208 $16,329 Total Capitalization 19.4% 15.1% DEBT AS A PERCENTAGE OF TOTAL CAPITALIZATION 401.5 411.3 Actual Common Shares Outstanding $ 34.55 $ 33.71 Book Value Per Common Share Book Value Per Common Share, with Available-for-Sale Fixed Maturities at Amortized Cost $ 34.28 $ 33.38 Page 1 of 11
  • 4. THE CHUBB CORPORATION SHARE REPURCHASE ACTIVITY (dollars in millions, except per share amounts) Three Months From Ended December 2005 March 31, 2007 to March 31, 2007 Cost of Shares Repurchased $605 $1,997 Average Cost Per Share $51.12 $49.94 Shares Repurchased 11,835,577 39,989,639 In December 2005, the Board of Directors authorized the repurchase of up to 28,000,000 shares of the Corporation’s common stock. No shares remain under the 2005 share repurchase authorization. In December 2006, the Board of Directors authorized the repurchase of up to 20,000,000 shares 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 December 2006. The authorizations have no expiration date. As of March 31, 2007, 28,010,361 shares remained under the share repurchase authorizations. Page 2 of 11
  • 5. THE CHUBB CORPORATION SUMMARY OF INVESTED ASSETS CORPORATE Cost or Market Carrying Amortized Cost Value Value Mar. 31 Dec. 31 Mar. 31 Dec. 31 Mar. 31 Dec. 31 2007 2006 2007 2006 2007 2006 (in millions) Short Term Investments $ 1,294 $ 793 $ 1,294 $ 793 $ 1,294 $ 793 Taxable Fixed Maturities 1,133 1,160 1,115 1,138 1,115 1,138 Equity Securities 289 289 408 416 408 416 TOTAL $ 2,716 $ 2,242 $ 2,817 $ 2,347 $ 2,817 $ 2,347 PROPERTY AND CASUALTY Cost or Market Carrying Amortized Cost Value Value Mar. 31 Dec. 31 Mar. 31 Dec. 31 Mar. 31 Dec. 31 2007 2006 2007 2006 2007 2006 (in millions) Short Term Investments $ 1,066 $ 1,461 $ 1,066 $ 1,461 $ 1,066 $ 1,461 Fixed Maturities Tax Exempt 17,865 17,449 18,133 17,755 18,126 17,748 Taxable 13,452 13,150 13,380 13,080 13,380 13,080 Common Stocks 1,294 1,235 1,584 1,502 1,584 1,502 Preferred Stocks 41 37 45 39 45 39 Other Invested Assets 1,655 1,516 1,655 1,516 1,655 1,516 TOTAL $ 35,373 $ 34,848 $ 35,863 $ 35,353 $ 35,856 $ 35,346 Page 3 of 11
  • 6. THE CHUBB CORPORATION INVESTMENT INCOME AFTER TAXES THREE MONTHS ENDED MARCH 31 2007 2006 (in millions) $ 14 $ 15 CORPORATE INVESTMENT INCOME PROPERTY AND CASUALTY INVESTMENT INCOME Tax Exempt Interest $178 $164 Taxable Interest 118 111 Other 16 10 Investment Expenses (7) (6) TOTAL $305 $279 19.9% 19.8% Effective Tax Rate 3.45% 3.45% After Tax Annualized Yield 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 market value. STATUTORY POLICYHOLDERS’ SURPLUS Mar. 31 Dec. 31 Mar. 31 2007 2006 2006 (in millions) Estimated Statutory Policyholders’ Surplus $11,950 $11,357 $9,650 Rolling Year Statutory Net Premiums Written 11,899 11,967 12,112 Ratio of Statutory Net Premiums Written to Policyholders’ Surplus 1.00:1 1.05:1 1.26:1 Statutory Policyholders’ Surplus and Net Premiums Written include all domestic and foreign property and casualty subsidiaries. Page 4 of 11
  • 7. THE CHUBB CORPORATION PROPERTY AND CASUALTY CHANGE IN NET UNPAID LOSSES THREE MONTHS ENDED MARCH 31, 2007 Net Unpaid Losses All Other IBNR Unpaid Losses Increase Increase Increase 3/31/07 12/31/06 (Decrease) (Decrease) (Decrease) (in millions) Personal Insurance Automobile $ 423 $ 425 (2) $ 3 (5) Homeowners 642 665 (23) (4) (19) Other 674 657 17 36 (19) Total Personal 1,739 1,747 (8) 35 (43) Commercial Insurance Multiple Peril 1,588 1,593 (5) 16 (21) Casualty 5,268 5,213 55 84 (29) Workers’ Compensation 1,781 1,740 41 46 (5) Property and Marine 702 678 24 16 8 Total Commercial 9,339 9,224 115 162 (47) Specialty Insurance Professional Liability 7,351 7,288 63 147 (84) Surety 59 59 — — — Total Specialty 7,410 7,347 63 147 (84) Total Insurance 18,488 18,318 170 344 (174) 1,331 1,381 (50) (42) (8) Reinsurance Assumed $19,819 $19,699 $120 $302 $(182) Total Page 5 of 11
  • 8. THE CHUBB CORPORATION — WORLDWIDE PROPERTY AND CASUALTY UNDERWRITING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006 (MILLIONS OF DOLLARS) Personal Other Total Automobile Homeowners Personal Personal 2007 2006 2007 2006 2007 2006 2007 2006 Net Premiums Written $ 147 $ 155 $ 520 $ 488 $ 173 $ 149 $ 840 $ 792 Increase (Decrease) in Unearned Premiums (18) (9) (55) (46) 19 10 (54) (45) Net Premiums Earned 165 164 575 534 154 139 894 837 Net Losses Paid 110 98 243 236 80 87 433 421 Increase (Decrease) in Outstanding Losses (2) 3 (23) (13) 17 (2) (8) (12) Net Losses Incurred 108 101 220 223 97 85 425 409 Expenses Incurred 44 44 171 156 52 44 267 244 Dividends Incurred — — — — — — — — Statutory Underwriting Income $ 13 $ 19 $ 184 $ 155 $ 5 $ 10 $ 202 $ 184 Ratios After Dividends to Policyholders: Loss 65.5% 61.6% 38.2% 41.7% 63.0% 61.2% 47.5% 48.9% Expense 29.9 28.4 32.9 32.0 30.1 29.5 31.8 30.8 Combined 95.4% 90.0% 71.1% 73.7% 93.1% 90.7% 79.3% 79.7% Premiums Written as a % of Total 5.1% 5.3% 18.1% 16.7% 6.0% 5.1% 29.2% 27.1% Page 6 of 11
  • 9. THE CHUBB CORPORATION — WORLDWIDE PROPERTY AND CASUALTY UNDERWRITING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006 (MILLIONS OF DOLLARS) Commercial Commercial Commercial Commercial Workers’ Property Total Multiple Peril Casualty Compensation and Marine Commercial 2007 2006 2007 2006 2007 2006 2007 2006 2007 2006 Net Premiums Written $ 307 $ 326 $ 441 $ 440 $ 257 $ 256 $ 301 $ 303 $ 1,306 $ 1,325 Increase (Decrease) in Unearned Premiums (13) (1) 12 5 29 26 1 16 29 46 Net Premiums Earned 320 327 429 435 228 230 300 287 1,277 1,279 Net Losses Paid 160 129 230 191 86 82 145 150 621 552 Increase (Decrease) in Outstanding Losses (5) (3) 55 99 41 49 24 (57) 115 88 Net Losses Incurred 155 126 285 290 127 131 169 93 736 640 Expenses Incurred 107 104 123 122 52 49 111 101 393 376 Dividends Incurred — — — — 4 7 — — 4 7 Statutory Underwriting Income $ 58 $ 97 $ 21 $ 23 $ 45 $ 43 $ 20 $ 93 $ 144 $ 256 Ratios After Dividends to Policyholders: Loss 48.4% 38.5% 66.4% 66.7% 56.7% 58.7% 56.3% 32.4% 57.8 % 50.3% Expense 34.9 31.9 27.9 27.7 20.6 19.7 36.9 33.3 30.2 28.5 Combined 83.3% 70.4% 94.3% 94.4% 77.3% 78.4% 93.2% 65.7% 88.0 % 78.8% Premiums Written as a % of Total 10.7% 11.1% 15.4% 15.0% 9.0 % 8.8% 10.5% 10.4% 45.6 % 45.3% Page 7 of 11
  • 10. THE CHUBB CORPORATION – WORLDWIDE PROPERTY AND CASUALTY UNDERWRITING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND (MILLIONS OF DOLLARS) Professional Total Liability Surety Specialty 2007 2006 2007 2006 2007 2006 Net Premiums Written $ 597 $ 615 $ 84 $ 65 $ 681 $ 680 Increase (Decrease) in Unearned Premiums (66) (70) 6 1 (60) (69) Net Premiums Earned 663 685 78 64 741 749 Net Losses Paid 354 236 1 (1) 355 235 Increase (Decrease) in Outstanding Losses 63 244 — 3 63 247 Net Losses Incurred 417 480 1 2 418 482 Expenses Incurred 156 157 25 22 181 179 Dividends Incurred — — 1 — 1 — Statutory Underwriting Income $ 90 $ 48 $ 51 $ 40 $ 141 $ 88 Ratios After Dividends to Policyholders: Loss 62.9% 70.1% 1.3% 3.1% 56.5% 64.4% Expense 26.1 25.5 30.1 33.9 26.6 26.3 Combined 89.0% 95.6% 31.4% 37.0% 83.1% 90.7% Premiums Written as a % of Total 20.9% 21.0% 2.9 % 2.2% 23.8% 23.2% Page 8 of 11
  • 11. THE CHUBB CORPORATION – WORLDWIDE PROPERTY AND CASUALTY UNDERWRITING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006 (MILLIONS OF DOLLARS) Total Reinsurance Worldwide Insurance Assumed Total 2007 2006 2007 2006 2007 2006 Net Premiums Written $ 2,827 $ 2,797 $ 40 $ 128 $ 2,867 $ 2,925 Increase (Decrease) in Unearned Premiums (85) (68) (33) (26) (118) (94) Net Premiums Earned 2,912 2,865 73 154 2,985 3,019 Net Losses Paid 1,409 1,208 51 92 1,460 1,300 Increase (Decrease) in Outstanding Losses 170 323 (50) (5) 120 318 Net Losses Incurred 1,579 1,531 1 87 1,580 1,618 Expenses Incurred 841 799 29 51 870 850 Dividends Incurred 5 7 — — 5 7 Statutory Underwriting Income $ 487 $ 528 $ 43 $ 16 530 544 Decrease in Deferred Acquisition Costs (3) (8) GAAP Underwriting Income $ 527 $ 536 Ratios After Dividends to Policyholders: Loss 54.3% 53.6% * * 53.0% 53.8% Expense 29.8 28.6 * * 30.4 29.1 Combined 84.1% 82.2% * * 83.4% 82.9% Premiums Written as a % of Total 98.6% 95.6% 1.4% 4.4% 100.0 % 100.0% * Combined, loss, and expense ratios will no longer be presented for Reinsurance Assumed since this business is in run-off. Page 9 of 11
  • 12. THE CHUBB CORPORATION – WORLDWIDE PROPERTY AND CASUALTY UNDERWRITING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006 (MILLIONS OF DOLLARS) Worldwide United States Foreign Total 2007 2006 2007 2006 2007 2006 Net Premiums Written $ 2,166 $ 2,268 $ 701 $ 657 $ 2,867 $ 2,925 Increase (Decrease) in Unearned Premiums (183) (176) 65 82 (118) (94) Net Premiums Earned 2,349 2,444 636 575 2,985 3,019 Net Losses Paid 1,167 1,093 293 207 1,460 1,300 Increase (Decrease) in Outstanding Losses 113 237 7 81 120 318 Net Losses Incurred 1,280 1,330 300 288 1,580 1,618 Expenses Incurred 623 621 247 229 870 850 Dividends Incurred 5 7 — — 5 7 Statutory Underwriting Income $ 441 $ 486 $ 89 $ 58 530 544 Decrease in Deferred Acquisition Costs (3) (8) GAAP Underwriting Income $ 527 $ 536 Ratios After Dividends to Policyholders: Loss 54.6% 54.6% 47.2% 50.1% 53.0% 53.8% Expense 28.8 27.5 35.2 34.9 30.4 29.1 Combined 83.4% 82.1% 82.4% 85.0% 83.4% 82.9% Premiums Written as a % of Total 75.5% 77.5% 24.5% 22.5% 100.0 % 100.0% Page 10 of 11
  • 13. THE CHUBB CORPORATION Definitions of Key Terms Underwriting Income (Loss) Management evaluates underwriting results separately from investment results. The underwriting operations consistof 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, the after-tax appreciation or depreciation on the Corporation’s available-for-sale fixed maturities, which are carried at market value. The appreciation or depreciation on 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 Ratio or Combined Loss and Expense 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 11