Notice of Intention to apply to the Federal Court of Australia for Confirmation of a Scheme to Transfer the Insurance Business of Chubb Insurance Company of Australia Limited to Ace Insurance Limited

Notice of Intention to Apply to the Federal Court OF AUSTRALIA for Confirmation of Scheme under Division 3A of Part III of the Insurance Act 1973 (CTH) TO TRANSFER THE INSURANCE BUSINESS OF CHUBB INSURANCE COMPANY OF AUSTRALIA LIMITED TO ACE INSURANCE LIMITED

Notice is given that ACE INSURANCE LIMITED ABN 23 001 642 020 (ACE) proposes to make an application to the Federal Court of Australia seeking confirmation of a scheme under Division 3A of Part III of the Insurance Act 1973 (Cth) to transfer the insurance business of CHUBB INSURANCE COMPANY OF AUSTRALIA LIMITED ABN 69 003 710 647 (Chubb) to ACE.

Each of ACE and Chubb is part of the Chubb group of companies and the scheme is being undertaken as part of business reorganisation of operations in Australia.

If the scheme is confirmed, the insurance business of Chubb will be transferred to ACE and ACE will be substituted for Chubb under policies issued or underwritten by Chubb.

The date fixed for the hearing of the application is 4 October 2016 at 10:15 am or on such other date as the Court appoints. The hearing will be held at the New South Wales Registry of the Federal Court of Australia which is located at the Law Courts Building, Queens Square, Sydney NSW 2000.

Any policyholder who may be affected by the scheme (Affected Policyholders) may attend the Court hearing and ask to be heard by the Court on the application for the confirmation of the scheme.

It is important that Affected Policyholders take notice of the scheme and consider whether they wish to attend the hearing. If an Affected Policyholder wishes to be heard at the hearing, it would assist if you let Dean Carrigan of Clyde & Co Australia know (by phone: 02 9210 4400 or email: Dean.Carrigan@clydeco.com) at least 3 days before the date fixed for the hearing. Affected Policyholders are not required to take any action if they have no objection to the scheme.

Copies of this notice, the scheme, a summary of the scheme, and the actuarial reports upon which the scheme is based (Scheme Documents) are accessible on www.chubb.com/au. Copies of the Scheme Documents will also be available for inspection by Affected Policyholders between 24 August 2016 to 13 September 2016 (inclusive), between 9:00am and 5:00pm (local time) Monday to Friday (other than public holidays) at the following addresses:

An Affected Policyholder may also obtain a copy of the Scheme Documents free of charge by contacting the Project Co-ordinator at Chubb on +61 02 9273 0100.

If a policyholder has any questions in relation to the scheme or any information contained in this notice, please contact the Project Co-ordinator at Chubb by calling +61 02 9273 0100.

We recommend that each Affected Policyholder obtain a copy of and review the Scheme Documents, which contain a discussion of the impact of the scheme on policyholders, to gain a better understanding of how the scheme will affect their rights and obligations as policyholders under the policies to be transferred from Chubb to ACE.

Other Matters

In order to assist you in assessing whether you may be an Affected Policyholder, please note that a high proportion of Chubb’s insurance business in Australia is distributed through intermediaries. It is possible that you may be a member of a group scheme insured by Chubb or you may have forgotten with which insurer your cover has been placed by your broker or agent. If you believe this may be the case, it is suggested you contact your broker, agent or scheme administrator to ascertain whether you are an Affected Policyholder.