GSA Daily Staff Report
Published Nov. 17, 2009

After 37 years of service, Charles Timmons Jr. has announced his retirement as president and CEO of Canal Insurance Co. Current board member John Pollock has been elected the new president and CEO of the organization, as well as its subsidiary, Canal Indemnity Co.

"I am proud to have been a part of the legacy of Canal Insurance Company," said Timmons, pictured. "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."

The commercial auto insurer went through three generations of family ownership. William Timmons Sr. founded Canal Insurance in 1939. The company’s headquarters is at 400 E. Stone Avenue in downtown Greenville.

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 more than eight years until the death of his father, at which time the board of directors elected him president and CEO.

"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 chairman. "Canal will remain a very special family business.”

Timmons will continue to serve on Canal’s board of directors. The company has more than $500 million in policyholder surplus, is active in 46 states and employs 225 people.

Bringing a wealth of industry experience to Canal, Pollock served as the president and CEO of Winterthur U.S. Holdings from 2003-07. 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," Pollock said.