Canal Insurance Company Announces New CEO

PR Newswire

GREENVILLE, S.C., June 8, 2016 /PRNewswire/ -- Lansing Crane, Chair of Canal Insurance Company's Board of Directors, announced last week that the Board has accepted the resignation of David Firstenberg, who has been Chief Executive Officer of Canal since October 2010.

"We are very grateful to Dave for his commitment to Canal and his efforts on behalf of Canal's shareholders, employees, and customers," said Mr. Crane in a statement. "During his tenure, Dave has revitalized Canal by adding new talent to Canal's dedicated employee base and investing in systems and practices that have made Canal competitive once again. Canal is well positioned in a truck insurance market that needs our capacity."

At Canal, said Mr. Crane, "We have been fortunate to have had Dave's intelligence, discipline, and insurance expertise to guide the company these past five-and-a-half years, and Dave has our thanks and best wishes as he moves forward with his career."

The Board of Directors has appointed David Pauly to the position of Chief Executive Officer to succeed David Firstenberg.

David Pauly, new Chief Executive Officer of Canal Insurance Company

A resident of Madison, Wisconsin, Mr. Pauly has been a director of Canal since October 2014. In 2013, Mr. Pauly retired after 13 years as CEO of Capital Transamerica Corporation, a specialty property and casualty insurer. Before that, Mr. Pauly was Chief Operating Officer of Acuity Insurance, another property and casualty insurer.

"We are very pleased Dave Pauly has agreed to be our next CEO," Lansing Crane said. "He has deep experience as a property and casualty insurance executive and leader, and a fundamental knowledge of Canal. 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."

About Canal Insurance Company
Rated A- by A.M. Best, Canal Insurance Company has specialized in providing insurance to commercial trucking and specialty transportation insureds through selected professional agents for more than 75 years. Visit canalinsurance.com for other news and information.

Media/Legal Contact:
Christopher GreeneVice President, General Counsel & Secretary
864.250.9254
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