The investment has been approved under Greece's development law, which provides state support for large-scale projects considered strategically important for the country's economy
Chubb Business Services EMEA, the insurance group's regional technology and shared-services hub for Europe, the Middle East and Africa, has secured approval for a €15.53 million investment under Greece's "Large Investments" incentive regime, marking another step in the multinational's expansion in Thessaloniki and underscoring Greece's growing role as a technology and business-services destination for global corporations.
The investment has been approved under Greece's development law, which provides state support for large-scale projects considered strategically important for the country's economy. Chubb will receive public aid of €6.21 million, equivalent to 50% of the project's eligible costs, through a subsidy covering the cost of newly created employment rather than direct capital expenditure.
The project focuses on expanding the capacity of Chubb's existing information technology design and software development operation in Pylaia, a suburb of Thessaloniki. The company plans to strengthen its technology infrastructure while increasing its ability to deliver digital services supporting the insurer's operations across Europe, the Middle East and Africa.
Chubb is one of the world's largest property and casualty insurance groups, operating in more than 50 countries and territories. While its insurance business in Greece is relatively limited, its Thessaloniki-based subsidiary has become an increasingly important part of the company's international operating model. The center provides software engineering, IT systems design, data management, analytics and operational support for business units throughout the EMEA region, functioning as one of Chubb's principal technology hubs in Europe.
The expansion is also expected to generate significant employment. According to the approved investment plan, the project includes the creation of 180 new jobs, adding to Thessaloniki's growing ecosystem of multinational technology and business-services centers. Over the past several years, the northern Greek city has attracted a series of international companies establishing software development, engineering and shared-services operations, supported by a combination of skilled talent, competitive operating costs and government investment incentives.
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