There’s been a changing of the guard at Canal Insurance Co., a family-owned insurer based in South Carolina focused on commercial trucking and specialty transportation.
Canal said that its board accepted the resignation of David Firstenberg, its CEO since October 2010. The board of directors already appointed his successor: David Pauly, a director of Canal since October 2014.
No explanation for Firstenberg’s departure was given. But Canal Board Chairman Lansing Crane noted Firstenberg’s efforts to grow the company and also add new talent/technology that helped Canal become competitive once more.
“Canal is well positioned in a truck insurance market that needs our capacity,” Crane said in prepared remarks.
Pauly, before becoming a Canal director, had retired in 2013 after 13 years as CEO of Capital Transamerica Corp., a specialty property/casualty insurer. He was also chief operating officer of Acuity Insurance.
Crane said that Pauly will be a good leader for Canal.
“He has deep experience as a property and casualty insurance executive and leader and a fundamental knowledge of Canal,” Crane said in prepared remarks. “He will build on the sound foundation laid by Dave Firstenberg and lead Canal to its next chapter of success as a dedicated, family-owned truck insurer.”
Source: Canal Insurance Co.