Philly Leader

The world’s largest publicly traded property and casualty insurance company, Chubb, will be making Philadelphia its home with construction slated for completion for 2026.

According a Dec. 16 release by Gov. Tom Wolf, this is a collaborative investment between Chubb, the city and commonwealth of Pennsylvania. The office will be located at 2000 Arch St. in Center City Philadelphia, and there will be a total of 3,200 employees at the location, which is the largest in the country for Chubb. 

“We are thrilled to have a world-renowned company like Chubb select Philadelphia for its largest office in North America,” Wolf said. “This project is a fitting culmination of all that the Governor’s Action Team has done during my administration to help businesses expand and relocate in Pennsylvania.”

The state is investing $13.3 million, and combined with the city there will be a total of $21,589,000 for the project. Chubb is investing $82 million in the project, which is expected to create at least 1,250 full-time jobs. 

The state’s portion comes from a Redevelopment Assistance Capital Program grant through the Department of Community and Economic Development (DCED) amounting to $10 million, as well as a $3.3 million Pennsylvania First grant.

“Anytime DCED and the Governor’s Action Team can bring a new project to Pennsylvania, it’s a big deal,” said DCED Acting Secretary Neil Weaver. “We are thrilled to have had a role in expanding the world’s largest publicly traded P&C insurance company’s presence in Philadelphia, along with the more than 3,200 jobs that will be created and retained through this project.”

The company is signing a long-term lease for the new office, which will also house a new technology center.

“Chubb is a dynamic and growing company that is proud to put a new stake in the ground in Philadelphia, a city that has been part of our history and success since 1792. We believe in this city, its people and the opportunity it provides,” said John Keogh, president and COO, Chubb. “Our expanded presence here will bring economic benefits to the city and commonwealth, including new jobs, apprenticeship opportunities and stimulating broader economic activity. The strong support Chubb is receiving from Gov. Wolf, Mayor Kenney, City Council President Clarke City and our development partner are testament to the sense of community that continues to make Philadelphia a great place to do business.”