Chubb has awarded a $94 million contract to Turner Construction Company for the interior fit-out of its new headquarters in Philadelphia.
The 18-story, 550,000-square-foot building, which Turner is already managing, is scheduled to open in spring or summer 2026 and will become Chubb’s largest North American office.
The new headquarters is part of Chubb’s expansion in Pennsylvania, where the company currently employs approximately 1,950 people.
With the new office, Chubb said that it plans to add at least 1,250 jobs and has committed to preserving 3,200 jobs in the state over the next five years. The space is being designed to support collaboration, innovation, and long-term growth for the company’s workforce.
Chubb’s expansion is also expected to create job opportunities in digital technology, finance, underwriting, and claims. The company said that it intends to recruit talent from the region’s universities and grow its newly established apprenticeship program, which provides career pathways in claims, underwriting, and technology for individuals without a four-year college degree.
The global insurer first announced plans to anchor the 18-story, 438,000-square-foot office building at 2000 Arch Street in Center City back in 2022.
The company’s most recent office space is its lease in New York; in 2021, Chubb secured a lease for 10 floors, totaling 240,000 square feet, at the renovated 550 Madison Avenue in Manhattan.
The company’s current global headquarters is located at Bärengasse 32, 8001 Zurich, Switzerland.
Outside of its expansions in location, the giant insurer also recently reported net income of $2.58 billion, or $6.33 per share, for the fourth quarter of 2024, with core operating income reaching $2.45 billion, or $6.02 per share.
Chubb’s net income and core operating income for the quarter were $2.58 billion and $2.45 billion, respectively, while on a pre-tax basis, both figures reached record levels of $3.05 billion and $3 billion.
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