Chubb Ltd

Interest expense was $741 million, $672 million, and $570 million for the years ended December 31, 2024, 2023, and 2022, respectively. Interest expense increased in 2024 primarily due to newly issued debt, including the $1.0 billion of 5.00 percent senior notes issued on March 7, 2024, the $700 million of 4.65 percent senior notes issued on July 31, 2024, and the $600 million of 5.00 percent senior notes issued on July 31, 2024, partially offset by the maturity of $700 million senior notes in May 2024. The increase in interest expense also reflects the impact of higher interest rates on held collateral and funds. Pre-tax interest expense is expected to total$779 million for 2025, based on projected variable expenses and existing debt obligations as of December 31, 2024, at current foreign exchange rates. Interest expense in 2025 is expected to be higher primarily as a result of the debt issued throughout 2024. Refer to Note 13 to the Consolidated Financial Statements, under Item 8, for more information.