Exhibit 99.1

News Release

Chubb Reports Second Quarter Per Share Net Loss and Core

Operating Loss of $(0.73) and $(0.56), Respectively, Including Net

Catastrophe Losses of $3.35 Per Share Versus $0.48 Per Share Prior

Year

ZURICH – July 28, 2020 – Chubb Limited (NYSE: CB) today reported a net loss for the quarter ended June 30, 2020 of $(331) million, or $(0.73) per share, compared with net income of $1,150 million, or $2.50 per share, for the same quarter last year. Core operating loss was $(254) million, or $(0.56) per share, compared with core operating income of $1,195 million, or $2.60 per share, for the same quarter last year. Book and tangible book value per share increased 4.9% and 7.2%, respectively, from March 31, 2020 and now stand at $121.32 and $77.49, respectively. Book value was favorably impacted by total after-tax net realized and unrealized gains of $3.1 billion, including $2.7 billion in the investment portfolio, due to a decline in interest

Chubb Limited News Release

rates and a narrowing of credit spreads in the company’s corporate bond portfolio, $410 million of favorable foreign exchange, and a gain of $110 million in the company’s variable annuity reinsurance portfolio.

Chubb Limited

Second Quarter Summary

(in millions of U.S. dollars, except per share amounts)

(Unaudited)

For the three months ended June 30, 2020 and 2019, the tax expenses (benefits) related to the table above were $(5) million and $(7) million, respectively, for amortization of fair value adjustment of acquired invested assets and long-term debt, and other; $(11) million and $(1) million, respectively, for adjusted net realized gains and losses; and $(46) million and $216 million, respectively, for core operating (loss) income.

For the six months ended June 30, 2020, net loss was $(79) million, or $(0.17) per share, compared with net income of $2,190 million, or $4.75 per share, for 2019. Core operating income was $966 million, or $2.13 per share, compared with $2,365 million, or $5.13 per share, for 2019. The P&C combined ratio was 101.0% compared to 89.6% prior year, and the current accident year P&C combined ratio excluding catastrophe losses was 87.5% compared to 88.7% prior year. Book and tangible book value per share decreased 0.9% and 0.8%, respectively, from December 31, 2019. Book value was adversely impacted by after-tax net realized and unrealized losses of $525 million, including $486 million from unfavorable foreign exchange and $450 million from mark-to-market losses in the company’s variable annuity reinsurance portfolio, partially offset by net realized and unrealized gains of $473 million in the company’s investment portfolio.

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Chubb Limited

Six Months Ended Summary

(in millions of U.S. dollars, except per share amounts)

(Unaudited)

For the six months ended June 30, 2020 and 2019, the tax expenses (benefits) related to the table above were $(10) million and $(16) million, respectively, for amortization of fair value adjustment of acquired invested assets and long-term debt, and other; $(28) million and $(6) million, respectively, for adjusted net realized gains and losses; and $191 million and $418 million, respectively, for core operating income.

Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb Limited, commented: “It was a difficult quarter for Chubb as the COVID-19 global pandemic, an event of historic proportions, impacted both our earnings and growth, and overshadowed the core underlying strength and vitality of our company. The 112.3% P&C combined ratio and core operating loss of 56 cents per share were negatively impacted predominantly by an after-tax COVID-related charge of $1.2 billion, which cost us essentially a quarter of our annual earnings and represents our best estimate of ultimate insurance losses resulting directly from the pandemic and consequent economic crises. Underlying our reported results, the P&C current accident year combined ratio excluding catastrophes was 87.4% versus 88.9% prior year, with current accident year underwriting income up 18% in constant dollars.

“Overall, P&C net premiums written grew 1.4% in the quarter in constant dollars, or about 4% after a one-time premium adjustment related to the COVID-19 economic impact as previously announced. We continued to capitalize on favorable commercial P&C underwriting conditions around the world in a number of important markets with adjusted net premiums written growing more than 9% in constant dollars. We are growing our exposures and market share, taking advantage of commercial P&C underwriting conditions where rates in many classes continued to rise in both North America and our international operations. These hard or hardening market conditions are spreading globally to more territories and classes at varying speeds, a rational response to prolonged overly competitive industry market conditions and the loss cost environment. Our consumer businesses, including accident and health, travel and personal lines, were heavily impacted given the pandemic’s effects on consumer activity, and net premiums declined over 6%.

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“In sum, our company is very strong, operating at a high level around the globe, while our balance sheet is in excellent shape. I’m proud of all of my colleagues, especially our essential underwriting, claims and loss prevention teams, who never paused during the economic shutdown and height of the pandemic. They have and continue to serve our customers and distribution partners with distinction and represent the Chubb brand, which is all about service. I also want to thank our technology group which has kept us operating seamlessly during the work from home conditions.”

Operating highlights for the quarter ended June 30, 2020 were as follows:

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Operating highlights for the quarter ended June 30, 2020 were as follows (continued):

Operating highlights for the six months ended June 30, 2020 were as follows:

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Details of financial results by business segment are available in the Chubb Limited Financial Supplement. Key segment items for the quarter ended June 30, 2020 are presented below:

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All comparisons are with the same period last year unless otherwise specifically stated.

Please refer to the Chubb Limited Financial Supplement, dated June 30, 2020, which is posted on the company’s investor relations website, investors.chubb.com, in the Financials section for more detailed information on individual segment performance, together with additional disclosure on reinsurance recoverable, loss reserves, investment portfolio, and debt and capital.

Chubb Limited will hold its second quarter earnings conference call on Wednesday, July 29, 2020 beginning at 8:30 a.m. Eastern. The earnings conference call will be available via live webcast at investors.chubb.com or by dialing 800-458-4121 (within the United States) or 323-794-2093 (international), passcode 8265970. Please refer to the Chubb website under Events and Presentations for details. A replay of the call will be available until Wednesday, August 12, 2020 and the archived webcast will be available on our website for approximately one month. To listen to the replay, please click here to register and receive dial-in numbers.

About Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 33,000 people worldwide. Additional information can be found at: www.chubb.com.

Investor Contact

Karen Beyer: (212) 827-4445; karen.beyer@chubb.com

Media Contact

Jeffrey Zack: (212) 827-4444; jeffrey.zack@chubb.com

Chubb Limited News Release

Regulation G - Non-GAAP Financial Measures

In presenting our results, we included and discussed certain non-GAAP measures. These non-GAAP measures, which may be defined differently by other companies, are important for an understanding of our overall results of operations and financial condition. However, they should not be viewed as a substitute for measures determined in accordance with generally accepted accounting principles (GAAP).

Throughout this document there are various measures presented on a constant-dollar basis (i.e., excludes the impact of foreign exchange). We believe it is useful to evaluate the trends in our results exclusive of the effect of fluctuations in exchange rates between the U.S. dollar and the currencies in which our international business is transacted, as these exchange rates could fluctuate significantly between periods and distort the analysis of trends. The impact is determined by assuming constant foreign exchange rates between periods by translating prior period results using the same local currency exchange rates as the comparable current period.

Net premiums written adjusted for COVID-19 exposures are net premiums written in Q2 2020 and YTD 2020 adjusted to exclude exposure adjustments on in-force policies in the North America Commercial P&C Insurance and Overseas General Insurance segments of $184 million and, for the North America Personal P&C insurance segment, return premiums of $7 million. We believe these measures are meaningful to evaluate trends in the underlying business on a comparable basis.

Adjusted net investment income is net investment income excluding the amortization of the fair value adjustment on acquired invested assets from the acquisition of The Chubb Corporation (Chubb Corp) of $30 million in Q2 2020 and $62 million for the six months ended June 30, 2020. We believe this measure is meaningful as it highlights the underlying performance of our invested assets and portfolio management in support of our lines of business.

Adjusted net realized gains (losses), net of tax, includes net realized gains (losses) and net realized gains (losses) recorded in other income (expense) related to unconsolidated subsidiaries, and excludes realized gains and losses on crop derivatives. These derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in commodity pricing impacts underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations, and therefore realized gains (losses) from these derivatives are reclassified to adjusted losses and loss expenses.

P&C underwriting income (loss) is calculated by subtracting adjusted losses and loss expenses, policy acquisition costs and administrative expenses from net premiums earned by our P&C operations. We use P&C underwriting income (loss) and operating ratios to monitor the results of our operations without the impact of certain factors, including net investment income, other income (expense), interest expense, amortization expense of purchased intangibles, Chubb integration expenses, income tax expense and adjusted net realized gains (losses).

Current accident year underwriting income (loss) excluding catastrophe losses is underwriting income (loss) adjusted to exclude catastrophe losses and prior period development (PPD). We believe it is useful to exclude catastrophe losses, as they are not predictable as to timing and amount, and PPD as these unexpected loss developments on historical reserves are not indicative of our current underwriting performance. We believe the use of these measures enhances the understanding of our results of operations by highlighting the underlying profitability of our insurance business.

Segment income includes underwriting income (loss), adjusted net investment income, other income (expense) – operating, and amortization expense of purchased intangibles.

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Core operating income (loss), net of tax, excludes from net income (loss) the after-tax impact of adjusted net realized gains (losses), Chubb integration expenses, and the amortization of fair value adjustment of acquired invested assets and long-term debt related to the Chubb Corp acquisition. We believe this presentation enhances the understanding of our results of operations by highlighting the underlying profitability of our insurance business. We exclude adjusted net realized gains (losses) because the amount of these gains (losses) are heavily influenced by, and fluctuate in part according to, the availability of market opportunities. We exclude the amortization of the fair value adjustments related to purchased invested assets and long-term debt and Chubb integration expenses due to the size and complexity of this acquisition. These integration expenses are distortive to our results and are not indicative of our underlying profitability. We believe that excluding these integration expenses facilitates the comparison of our financial results to our historical operating results. References to core operating income (loss) measures mean net of tax, whether or not noted.

P&C combined ratio is the sum of the loss and loss expense ratio, acquisition cost ratio and the administrative expense ratio excluding the life business and including the realized gains and losses on the crop derivatives, as noted above.

Current accident year combined ratio excluding catastrophe losses excludes the impact of catastrophe losses and PPD from the combined ratio. We believe this measure provides a better evaluation of our underwriting performance and enhances the understanding of the trends in our property and casualty business that may be obscured by these items.

Global P&C performance metrics comprise consolidated operating results (including corporate) and exclude the operating results of the company’s Life Insurance and North America Agricultural Insurance segments. The agriculture insurance business is a different business in that it is a public sector and private sector partnership in which insurance rates, premium growth, and risk-sharing is not market-driven like the remainder of the company’s P&C insurance business. We believe that these measures are useful and meaningful to investors as they are used by management to assess the company’s global P&C operations which are the most economically similar. We exclude the North America Agricultural Insurance and Life Insurance segments because the results of these businesses do not always correlate with the results of our global P&C operations.

Tangible book value per common share is shareholders’ equity less goodwill and other intangible assets, net of tax, divided by the shares outstanding. We believe that goodwill and other intangible assets are not indicative of our underlying insurance results or trends and make book value comparisons to less acquisitive peer companies less meaningful.

See the reconciliation of Non-GAAP Financial Measures on pages 30-36 in the Financial Supplement. These measures should not be viewed as a substitute for measures determined in accordance with GAAP, including premium, net income (loss), return on equity, and net investment income.

NM - not meaningful comparison

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Cautionary Statement Regarding Forward-Looking Statements:

Forward-looking statements made in this press release, such as those related to company performance, including 2020 performance and the impact of the COVID-19 pandemic, pricing, economic and market conditions, and our expectations and intentions and other statements that are not historical facts, reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the following: competition, pricing and policy term trends, the levels of new and renewal business achieved, the frequency and severity of unpredictable catastrophic events, actual loss experience, uncertainties in the reserving or settlement process, integration activities and performance of acquired companies, loss of key employees or disruptions to our operations, new theories of liability, judicial, legislative, regulatory and other governmental developments, litigation tactics and developments, investigation developments and actual settlement terms, the amount and timing of reinsurance recoverable, credit developments among reinsurers, rating agency action, infection rates and severity of pandemics, including COVID-19, and their effects on our business operations and claims activity, possible terrorism or the outbreak and effects of war, economic, political, regulatory, insurance and reinsurance business conditions, potential strategic opportunities including acquisitions and our ability to achieve and integrate them, as well as management’s response to these factors, and other factors identified in our filings with the Securities and Exchange Commission (SEC).

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Chubb Limited

Summary Consolidated Balance Sheets

(in millions of U.S. dollars, except per share data)

(Unaudited)

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Summary Consolidated Financial Data

(in millions of U.S. dollars, except share, per share data, and ratios)

(Unaudited)