Canal Insurance To Expand, Locate Corporate Headquarters In Downtown GreenvilleOct 20, 2021 01:25PM ● By David Dykes
Canal Insurance, an 82-year-old company with an eye on a vibrant future, announced plans to expand operations in Greenville County by relocating to a new headquarters location on North Main Street in downtown Greenville.
The move aligns with the commercial truck insurance company’s strategic plans for current and future growth, company officials said.
Founded in 1939, and rated A- (Excellent) by A.M. Best, Canal specializes in insurance for commercial trucking and other specialty transportation operations. The company provides comprehensive insurance products and services including auto liability, motor truck cargo, physical damage, trucker’s general liability coverages and risk management services.
Currently headquartered at 400 E. Stone Ave. in Greenville, Canal will relocate to 101 N. Main Street – the former Bank of America Building – in mid-2022 to support the company’s growth plans and increase its commitment to more than 230 employees and the Greenville community.
Having hired 85 new employees over the last three years, Canal has shown its dedication to job creation in the area, and the relocation will continue to strengthen its recruitment efforts, company officials said. The company has an additional 10 open positions featured on its website.
“On behalf of Canal shareholders and employees, we are excited to deepen longstanding roots in South Carolina and further invest in our people and the community with the decision to move to the 101 North Main building, said Paul Brocklebank, Canal Insurance Company’s president and CEO.
“As a family-owned company, we have considered Greenville home for more than 80 years and share a keen appreciation for the advantages of expanding operations and recruiting employees in such a vibrant city and business environment. We view the new office space and location to be a smart fit with the Canal strategy and focus on collaboration and innovation, as we craft new insurance products and services designed for the next generation of motor carrier customers.”
Over the last decade, the company has begun to operate “more like a start-up than an eight-decade-old organization,” added Brocklebank, pointing to Canal’s new product offerings, innovative initiatives, incorporation of leading-edge technology and commitment to adding “an entirely new caliber of employee” to take the organization into the future.
“Since 1939, Canal has been a leader in providing insurance and risk management for commercial trucking and specialty transportation services, and they have been excellent contributors to Greenville County’s corporate community,” said Greenville County Council Chairman and Greenville Area Development Corporation Board Member Willis Meadows. “Greenville County Council congratulates Canal on the relocation of the company to its new headquarters in Greenville and wishes them continued growth and success here.”
Canal Insurance Company will take approximately 65,000 square feet of office space at 101 N. Main Street for its new corporate headquarters, and will have exclusive exterior signage rights, signifying the company’s long-term commitment to Main Street, company officials said.
The location anchors Greenville’s ONE City Plaza in the heart of downtown Greenville. Following an upfit of the space, Canal will become the anchor tenant in the tower, occupying five floors and over one-third of the building.
Collier’s office brokerage team represented Canal in the transaction.
“From here you can change the world is the City
of Greenville’s economic development anthem,” said Greenville Mayor Knox White.
“During the Great Depression and into World War II, Canal Insurance Company and
its founders did just that in the long-haul trucking industry. Over the past
80+ years, Canal has grown their business from Greenville.
“We congratulate them on their expansion and welcome them into the heart of downtown. Bringing another respected, nationally known company headquarters to Main Street shows that Greenville is resourced and ready for quality growth and development.”
Canal’s newly upfitted headquarters is expected to be ready for occupancy by mid-year 2022.
The Greenville Area Development Corporation is a nonprofit organization established by Greenville County Council to promote and enhance the economic growth and development of Greenville County.