Canal Insurance Company President and CEO Announces Retirement
November 18, 2009
GREENVILLE, SC – November 17, 2009 – After 37 years of service, Charles M. Chuck Timmons, Jr., has announced his retirement as President and CEO of Canal Insurance Company.
I am proud to have been a part of the legacy of Canal Insurance Company, said Timmons. The future of the company is extremely positive. With the outstanding people, technologies and processes that we have put in place over the last few years, Canal is in a great position for increased growth in the future.
Timmons joined the company in 1972 after receiving his undergraduate degree from the University of South Carolina. After a brief time away to obtain his MBA from Georgia State University, Timmons returned to Canal and was eventually promoted to Chief Operating Officer. He served as COO for over eight years until the death of his father, at which time the Board of Directors elected him President and CEO. Over the last ten years, Timmons has solidified Canal Insurance Company’s position as a leading commercial auto insurer. The company, rated A+ by A.M. Best, has over $500 million in policyholder surplus, is active in 46 states, and employs 225 people.
The Timmons Family, Canal’s customers and all the Canal employees that Chuck cares so much about owe a great debt of gratitude to him for his many years of service and contribution to Canal’s success, said Lansing Crane, Canal’s Board Chair. Canal will remain a very special family business. Chuck’s character and talents as a businessman have helped build Canal into the Nation’s leading truck insurer. We’re all happy for Chuck and wish him the very best in his retirement. Fortunately, he will continue to be with us on the Canal Board, and we look forward to many years of continued contributions by Chuck to Canal’s people and its success.
Current Canal Board member John Pollock has been elected the new President and CEO of the organization, as well as its subsidiary, Canal Indemnity Company. Bringing a wealth of industry experience to Canal, Pollock served as the President and CEO of Winterthur U.S. Holdings from 2003 to 2007. Previous to that, beginning in 1988, he also served as President of General Casualty Insurance.
I am looking forward to the opportunity to serve Canal in a new capacity and am grateful that Chuck will continue to provide us with his sound judgment and experience as a member of our Board, said Pollock.
About Canal Insurance Company
Founded in 1939 by William R. Timmons, Sr., Canal Insurance Company is recognized in the industry as a stable, responsive and financially strong leader in commercial trucking insurance and related lines. A third generation owned and operated company, Canal has specialized in trucking insurance since its inception, and underwrites in forty-six states. Rated A+
