By Maureen N. Maratita

Paul A. Calvo is the 2024 Guam Business Magazine Executive of the Year.
“To whom much is given, much is required” appears in the Bible in Luke 12:48.
Nothing could be truer than the mantle that Paul A. Calvo took on as president and CEO of Calvo’s Insurance Underwriters.
Calvo did not walk into the presidency and the top job but earned his title through significant years of work experience.
However, he welcomed his career path, he says.
“As a young teen I wanted to be a businessman once I grew up. My father was my number one role model as he straddled the two worlds of business and politics, but it was the business world that I found most interesting. My three uncles Eddie and Jerry Calvo – who are my dad’s brothers along with my uncle Henry Schnabel – were also important role models,” he told Guam Business Magazine.
Calvo graduated from Menlo College’s School of Business Administration in Atherton, Calif. in 1982.
His choice of the business arena was driven by the conversations he heard at the dinner table and around the house, he says.
“In the 1970s the topics would range from the rationale of developing a new tourism related venture called Splash Down water-park across from the Okura Hotel, to entering a JV with J&G Enterprises to break ground on the Guam Hilton Hotel, then the JV to open the Guam Hotel Okura, then the purchase of the Ada family’s movie theater business (Agana , Tamuning and Dededo Cinema Theaters) plus the opening of our two Hafa Adai Theater buildings behind the current Hafa Adai Exchange , the purchase of Pepsi Cola Bottling from J&G Enterprises in the 1970s, then a decade later the purchase of Pay-Less Markets from them as well.”
Calvo was also drawn by what he calls “the thrill of making the deal.”
His first appointment to Calvo’s Insurance was in 1983 as a personal lines claims coordinator, assisting clients in understanding their coverage and filing automobile and home claims. In 1984 he became a personal lines customer service representative. “I was part of the office team selling automobile and home insurance coverage to prospective customers, and servicing client changes to insurance policies – such as adding/deleting vehicles, adding new drivers, etc.,” Calvo says.
In 1988, he became manager of Calvo’s Life & Health Insurance Department, responsible for the group health and life insurance program which included client sales and service for AIG and Nichido Insurance medical insurance corporate clients as well as GMHP Insurance sales and servicing. Hawaiian Life Insurance was Calvo’s Life Insurance principal for individual life insurance sales efforts.
“Additionally, I managed the PAID Plan which was our branding for the Premium Automatic Insurance Deduction program directed to employees’ group personal automobile insurance,” he says.
In 1995, Calvo became Commercial Lines sales manager, responsible for developing new sales and cultivating consistent quality client service, and in 2001 he was named vice president and general manager of Calvo’s Insurance, reporting to the president and board.
Since 2015 Calvo has been president and CEO of Calvo’s Insurance in Guam.
On Guam he pioneered the introduction of the insurance customer loyalty program, the Calvo’s Lifestyle Club. He initiated the 24/7 roadside assistance program modeled after those in the US mainland and was the first to launch the 12 months automobile insurance payment plans on Guam through the Calvo’s P.A.I.D. Plan. (Premium Automatic Insurance Deduction). He initiated the airfare benefit program where Calvos Selectcare Insurance covers the airfare cost for patients to travel to specific medical centers abroad.
Additionally, Calvo serves as president of Calvo’s Insurance Saipan and president of Calvo’s Insurance Palau. He is chairman of the board of Selectcare Philippines, vice chairman of Guahan Waste Control Inc., which does business as Mr. Rubbishman, vice president and board director ofPay-Less Markets Inc., board director of PMC Investments Inc. and board director of Title Guaranty of Guam.
The “thrill of the deal” that initially spurred Calvo to enter the business world was recently evident in his negotiations for an important acquisition consummated in 2024.
“For over 22 years Calvo’s Insurance Selectcare was the Managing General Agent for group health insurance underwritten by Nichido Fire and Marine Insurance which later was absorbed by the Tokio Marine Pacific Insurance Company,” he says.
“In 2023 an opportunity became evident to me to acquire this insurance company with a health insurance business where premiums had grown sizably to over $100 million annually over the two decades. So I began negotiations with the Japan based parent company to find a path to a mutually agreeable purchase price.”
Working with his chief financial officers and key managers, Calvo says “we simultaneously worked with Calvo Enterprises to arrange the funding for the purchase, which was consummated in January 2024.”
Calvo would be called upon to ensure his company’s place in the community and its reputation in the islands when Guam was struck by Typhoon Mawar in May 2023.
He led “CIU along with our principal AIG to provide very professional, fair and prompt claim payments to our Typhoon Mawar clients in both our Home, Auto and Commercial business portfolio. Our AIG claims adjusters and our Calvo’s Insurance team did an outstanding job in getting thousands of typhoon claims settled fairly and promptly,” he says.
“We can favorably and proudly compare our level of service and settlement with any of our competitors after the catastrophe.” Calvo knew that this was the time the company needed to shine, he says.
“Just under $25 million in claim payments were paid out over the months following Typhoon Mawar.”
That diligence has been a cornerstone of Calvo’s years in business, he says.
“Over my career I am most proud of the excellent reputation that our staff and management have built for our company within our island communities. We always have dealt fairly with our business partners and customers. We have paid claims promptly and fairly.
“And with regard to our medical insurance claims staff, with the tremendous volume of tens of millions of dollars paid annually to our Guam hospitals, clinics, labs and pharmacies, physicians and other medical professionals, I feel confident that we rank among the top performing insurance organizations,” he says.
Raymond A. Martinez, vice president, assistant general manager and director of operations at Calvo’s Insurance; has worked alongside Calvo for years.
He says, “Just a few of the personal qualities which set apart Paul A. Calvo in his professional life are his capacity for compassion, his humbleness when it comes to achievements that most would gladly brag about, yet he tends to redirect that attention to how it would most benefit others rather than himself. While Paul always carries that sense of compassion for others, it only serves to further distinguish his strong leadership abilities.
Martinez values Calvo as a leader. “I have been with the company for 50 years, and had he not been at the helm, I cannot safely ascertain whether or not I would still be here. I have great respect for Paul and see how he also carries on the legacy of the leaders who came before him – his father, the late Governor Paul M. Calvo and his brothers, Eddie and Jerry, his Uncle Henry Schnabel, and visionary and founder of Calvo’s Insurance, Eduardo Jake T. Calvo. I think it’s safe to say with confidence that having had the pleasure to work with the “old guard,” now and into the future, under Paul’s leadership this company and our employees who show up every day to keep this organization running are in very capable hands.
Calvo’s experience of rising through the ranks serves the company well, Martinez says.
“One of my early memories of when Paul A. Calvo joined Calvo’s Insurance, was when he worked as a claims handler for various catastrophic events – typhoons and earthquakes – in the interest of the people of Guam, always working to angle claims fairly and accurately to help our people recover from the devastation that we’ve all seen can be brought about by mother nature. That mindset of his continues to this day, most recently shown not only with his attention to claim details in the aftermath of Typhoon Mawar, whether it be somebody’s home or a large commercial client’s building that suffered damage. Although Paul A. Calvo sits as president of CIU, overseeing the various aspects of the company from the top down, he remains an astute underwriter, having full knowledge of the products that we sell even while they have greatly evolved with the times and needs of both individuals as well as the greater industry.
Additionally, Martinez says Calvo is hands on at the company.
“In the Life & Health arena, Paul has been and continues to be instrumental to the structuring of various group insurance programs, while maintaining fair and equitable rates, and coverage benefits for both government and private organizations here on island. These successes are further supported by the achievement and development of Calvo’s Selectcare Insurance Co., our island’s newest domestic insurance company, maintaining yet another option for medical care for the people of Guam to choose from.”
Typically, Calvo makes time to focus on giving, Martinez says.
Aside from running CIU, he also is very involved with community efforts, often donating to various local community organizations to help further the lives of Guam’s people ranging from the less fortunate to youth development. It is this compassion that he has which allows him to strive for improvement not only for our island’s current issues, but also for that of our children and young adults – our future, for when the day comes that Paul, I and our other colleagues must step aside.”
Calvo’s Insurance supports the Edward M. Calvo Cancer Foundation, Pay-Less Kick the Fat Run, UOG Endowment Foundation, American Red Cross, Catholic Social Service, Catholic Daughters of the Americas, Guam Memorial Hospital Volunteers Association, Guam Animals In Need, Pink Ball Guam Association, Filipino Association of Guam and numerous schools, churches, sports organizations.
Calvo says, “Calvo’s Insurance has donated several hundred thousand dollars to the community over just the last five years alone. When you add the additional donations from Calvo Enterprises, Pay-Less Markets, and Pay-less Community Foundation then the amounts easily double. Our largest Calvo family commitment of $3 million to the UOG Endowment Foundation is for the benefit of the sports and special events community at the UOG Calvo Fieldhouse.”
Calvo is married to Shelly V. Calvo, now a senator in the 38th Guam Legislature, and they have six children: Paul Daniel Calvo, Mason Thomas Calvo (deceased), Brittany Rose Calvo, Miguela V. Dalziel, Daniel A. Calvo, and Savannah V. Garcia.
Shelly Calvo says, “Paul is the man who’s always wanting to help others. He is a very simple and humble man. He’s funny and smart, always a breath of fresh air to hang around with. He is a history and general information buff.”
Additionally, she says, “He is the epitome of an ideal partner and husband. I have nothing but respect, pride and admiration for him because he’s done very well as my other half for 19 years.
“Paul is a loving and devoted family man. His days are spent between work and home. He’d rather be just beside me or with our family than anywhere else. He is not hard to please and prefers the simple yet meaningful moments of life,” Shelly Calvo says.
Aside from that, Paul Calvo wears many hats, she says. “Many know him as the president and CEO of Calvo’s Insurance but in reality, he is actually involved in numerous businesses. Paul shadowed his dad at a young age and was very well forged and equipped to be an incredible businessman like his father. “
Shelly Calvo recognizes the support of the community that her husband spearheads. “They say that the best way to help others is from the heart, away from the cameras. That is Paul, always ready to help without taking credit.”
Paul Calvo is extremely generous, she says. “He supports almost every organization on our island. He’s been donating and assisting our community in a big way for decades. Paul has a soft spot for the needy. He truly has a good heart.”
Edward J.B. Calvo, president of PMC Investments Inc.; says of his brother, “With there only being two brothers within a family of eight siblings, a special relationship grew between my brother Paul and I. Until ultimately meeting and marrying my beloved wife Christine, I can unhesitatingly state that Paul through my childhood and most of my early adulthood years was my best and closest friend. And even now, with the exception of my wife, I still consider my brother as my closest friend and confidant.”
He says, “There’s a special term – “Peace through Strength” – made famous by both Presidents Ronald Reagan and Donald Trump. That phrase best exemplifies my childhood experiences growing up with Paul.
“I was a skinny little kid through most of my childhood. Yet despite my frail physical attributes, I was rarely, if ever picked or bullied on. And the major reason for my good fortune was because I had an older brother that was tougher than any other boy or young man I had ever met. … Paul got into numerous scraps as a youngster. But as far as I can recall, he may never have started an altercation … but he always ended it. Brother Paul never lost a fight. His reputation as fighter (and loving brother) allowed me the good fortune of growing up relatively unscathed from school or neighborhood ruffians. For that, I am deeply appreciative!
Edward Calvo says that aside from his physical prowess “brother Paul also was (and still is) one cool and calm individual. While I was always the vocal and temperamental brother, Paul was more the quiet and deliberative sibling. No matter what the situation was (and there were many), Paul was always able to keep composed and thoughtful, making moves only when he had thought out all the potentialities.
“My brother was and still is, “Cool, Calm and Tough.” Those traits have served him well through both his personal and professional life. His steady, thoughtful and strong leadership of the family’s insurance business has led the company to its greatest heights. The most recent milestone being the acquisition of Tokio Marine Insurance in early 2024. The purchase fortified our business position as the largest locally owned insurance general agency (CIU), as well as the largest locally owned insurance company (Calvo’s SelectCare) in Guam.”
Paul’s sister, Kathy R. Calvo is president and CEO of Pay-Less Markets Inc. She says, “With 30-plus years in the insurance industry, Paul is very seasoned and knowledgeable about his profession, which has contributed to the success of Calvo’s Insurance over the decades. Paul’s engaging and charismatic personality has forged bonds and relationship bridges with Guam’s local community as well as national and international organizations. Networking and relationships are extremely important to the success of any business. A relationship built upon trust is paramount, especially in the insurance business and Paul demonstrates a strong foundation of values and principles which guide his decision making.”
Of his latest accomplishment, she says, “Paul was the lead negotiator for the Tokio Marine acquisition, on behalf of Calvo Enterprises Inc. in 2024. Tokio Marine announced a decision to pull out of Guam in late 2022. Calvo’s Insurance was the General Agent for Calvo’s SelectCare. Rather than leaving Guam or selling the books to an off-island company, Paul successfully negotiated terms for CEI to acquire the health care portion of TMPI.”
As to his place in Calvo Insurance’s history, Kathy Calvo says, “Paul is a third generation Calvo family member to be employed by Calvo’s Insurance Underwriters Inc. His grandfather, Eduardo “Jake” T. Calvo is the founder of Calvo’s Insurance. Paul has worked his way up the ladder under the diligent mentorship of Mr. Henry Schnabel as well as his father, Paul M. Calvo.”
In addition, she says, “On a personal note, Paul is an overall nice guy who is respected in our community and loved by his family. Paul loves to travel with his wife, Shelly, all over the world. He is an avid member of the Nunu Golf Club and has been involved in various civic organizations and events over many years. Paul enjoys Guam history and regularly donates to causes involving our Guam history and heritage. Paul is a proud son of Guam who leads a company that has provided health care insurance for our island community for decades.”