Chubb, an insurance company, opened its new office tower in Philadelphia on Monday.
The $380 million, 18-floor, 438,000-square-foot building began construction in February 2023 and is one of the largest private investments in Center City in recent years. It will serve as a workplace for nearly 3,000 employees.
“2000 Arch Street stands as a clear statement of Chubb’s belief in Philadelphia and the commonwealth, our commitment to this city, and our intention to remain rooted here for the long term,” Juan Luis Ortega, Chubb Group executive vice president and North America Insurance president, said.
“Chubb’s major investment in Philadelphia further strengthens the City’s dynamic economy,” Rick Siger, Department of Community and Economic Development secretary, said. “It also underscores Pennsylvania’s exceptional workforce, competitive business environment, and everything we have to offer to growing companies here in the commonwealth.”
Chubb operates in 54 countries and territories and employs approximately 45,000 people worldwide. It provides accident and supplemental health insurance, property and casualty insurance, and re-insurance and life insurance. Its parent company is Chubb Limited.
Chubb’s oldest subsidiary, the Insurance Company of North America, was founded in Philadelphia in 1792 and was the first stock insurance company in the United States.