CANAL INSURANCE COMPANY ESTABLISHES NEW HOLDING COMPANY, CANAL FINANCIAL GROUP

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Jul 02, 2024, 09:30 ET

GREENVILLE, S.C., July 2, 2024 /PRNewswire/ -- Canal Insurance Company, a leading provider of commercial trucking insurance, is pleased to announce the formation of its new holding company, Canal Financial Group (CFG). This strategic initiative represents a significant milestone in Canal Insurance Company's history, aimed at enhancing operational efficiency, fostering innovation, and maximizing shareholder value.

The establishment of Canal Financial Group will serve to streamline Canal Insurance Company's corporate structure while enabling management to explore opportunities for growth, innovation, and continued value creation for shareholders.

"As Canal Financial Group beings its journey, Canal Insurance Company remains steadfast in our commitments to customers and business partners, driven by a dedication to both operational excellence and innovation," said Paul Brocklebank, Chairman of the Board and CEO. "This strategic move will enable us to pursue new opportunities with agility and focus while leveraging our core strengths in the commercial transportation space."

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 80 years. Visit canalinsurance.com for other news and information.

SOURCE Canal Insurance Company