Chubb planning new office building in Philadelphia

On Thursday, Pennsylvania Gov. Tom Wolf and Philadelphia Mayor Jim Kenney announced property and casualty insurance company Chubb was planning to build a new office building in Philadelphia.

The state-of-the-art building will be constructed at 2000 Arch Street. Currently, the company has offices in two locations across from Independence Hall, where its predecessor company was founded. Chubb expects to add 1,250 new employees and is committed to creating and retaining a total of 3,200 jobs in the state over the next five years.

“We are very proud and thankful that the world’s largest publicly traded property and casualty company, Chubb, has chosen Philadelphia for its new largest North America office. This affirms that our city is a dynamic, competitive destination ready to attract and retain companies of all sizes and further showcases that Philadelphia is a great place for businesses to grow and thrive. I want to thank the Department of Commerce’s Business Development team for leading this effort on behalf of the City, solidifying Philadelphia as a great place to work, live and play,” Kenney said. “Chubb’s decision to invest in Philadelphia demonstrates that our unique combination of affordability, cultural amenities, and talented and diverse workforce make us a top choice for innovative and collaborative companies. We thank them for their investment in and commitment to our great city.”

The building is expected to be completed in early 2026. Currently, the company has an estimated 1,950 jobs in the city and state. The company said its expanded workforce would include roles in digital technology, finance, underwriting, and claims and will offer roles for those without a four-year college degree.

“I’m proud to have invested $13.3 million to support Chubb as they build their largest office in North America in Philadelphia,” said Governor Tom Wolf.

Philadelphia Industrial Development Corporation’s Redevelopment Assistance Capital Program (RACP) will provide $10 million to fund the development and construction of the project. Chubb will be the anchor tenant of the 18-floor, 438,000-square-foot structure. Construction is expected to start in February 2023.