Chubb, the world’s largest publicly traded property and casualty insurance company, today announced its plan for a new Philadelphia office that will occupy a state-of-the-art building to be constructed at 2000 Arch Street, reaffirming a commitment to the City of Philadelphia and the Commonwealth of Pennsylvania that can be traced to 1792.
Designed with the highest standards for sustainability, the new 18-floor, 438,000 rentable square foot structure is being developed in partnership with Parkway Corporation. Construction will commence in February 2023. Artist renderings of the building as well as a video of the site and a fact sheet are available here.
Chubb, already a significant employer in the city and elsewhere in the Commonwealth with approximately 1,950 jobs, will create at least 1,250 new positions in Philadelphia following the building’s opening in early 2026, making it the company’s largest office in North America. Chubb has committed to creating and retaining a total of 3,200 jobs in Pennsylvania within five years following the opening. During the construction phase, the project will also support hundreds of jobs from local unions.
Chubb’s expanded workforce in Philadelphia will include new roles in digital technology, finance, underwriting and claims and the proximity of the new location to the city’s leading colleges and universities will provide an important pipeline of new talent. There will also be hires into Chubb’s newly launched apprentice program, which will offer roles for individuals without a four-year college degree in areas such as claims, underwriting and technology.
The Redevelopment Assistance Capital Program (RACP), provided by the Commonwealth and facilitated by the Philadelphia Industrial Development Corporation, is providing $10 million to fund development and construction costs of the project. Chubb will be the anchor tenant.
Chubb is the largest commercial property and casualty insurer in the U.S., serving businesses of all sizes, from small family-owned businesses and mid-sized companies to the largest national and multinational corporations. The company is also America’s largest crop insurer and the leader in providing insurance to successful individuals and families. Chubb’s oldest subsidiary, INA, was the nation’s first stock insurance company, founded in 1792 at Independence Hall.
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