By Mark Heschmeyer CoStar News
Chubb, the world’s largest publicly traded property and casualty insurance company, is planning a new Philadelphia headquarters.
The 18-floor, 438,000-square-foot building would be the third-largest office property built or under construction in the past five years in the city, according to CoStar data.
Parkway is developing the property in partnership with Chubb. Construction will commence in February. Chubb will occupy the planned building at 2000 Arch St., reaffirming a commitment to the city of Philadelphia.
“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,” John Keogh, Chubb president and chief operating officer, said in a statement. “Our expanded presence will bring economic benefits to the city and commonwealth, including new jobs and stimulating broader economic activity.”
Chubb, already a major employer in Philadelphia and elsewhere in Pennsylvania with about 1,950 jobs, plans to create at least 1,250 new positions in Philadelphia after the building’s expected 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. The firm’s expanded workforce in Philadelphia will include new roles in digital technology, finance, underwriting and claims.
The Redevelopment Assistance Capital Program provided by the state of Pennsylvania and facilitated by the Philadelphia Industrial Development Corp. is providing $10 million to fund development and construction costs of the project.
Chubb currently occupies two locations in Philadelphia at 436 Walnut St. and 510 Walnut, steps from Independence Hall where its predecessor company was founded.
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