Chubb Invests in Pennsylvania, Adding Jobs and Expanding Apprenticeships
Chubb, a global insurance giant, is expanding its presence in Pennsylvania with a new headquarters and a commitment to significant job growth. The company has awarded a $94 million contract to Turner Construction Company for the interior fit-out of its new Philadelphia headquarters. The building, located at 2000 Arch Street, is set to open in the spring or summer of 2026.
The new 18-story, 550,000-square-foot office will be Chubb’s largest North American location. The company already employs approximately 1,950 people in the state. This expansion will include at least 1,250 new jobs. Chubb has also pledged to maintain 3,200 existing positions in Pennsylvania over the next five years. The company’s expansion intends to create fresh opportunities in digital technology, finance, underwriting, and claims.
Chubb stated that it plans to focus its recruitment on universities in the region and develop its apprenticeship program, which offers career pathways in claims, underwriting, and technology for individuals who do not have a four-year college degree. The insurer initially announced plans for the new building back in 2022.
In New York, Chubb secured a lease in 2021 for 240,000 square feet across 10 floors at the renovated 550 Madison Avenue in Manhattan. The company’s global headquarters is in Zurich, Switzerland.
In addition to its expansion plans, Chubb released its financial results for the fourth quarter of 2024, reporting a net income of $2.58 billion, or $6.33 per share. Core operating income reached $2.45 billion, or $6.02 per share. Pre-tax figures reached record levels of $3.05 billion.
