[Congressional Record (Bound Edition), Volume 149 (2003), Part 23]
[Extensions of Remarks]
[Pages 31992-31993]
[From the U.S. Government Publishing Office, www.gpo.gov]




    CELEBRATING THE 65TH ANNIVERSARY OF CALVO'S INSURANCE, AND ITS 
           IMPORTANT CONTRIBUTION TO THE DEVELOPMENT OF GUAM

                                 ______
                                 

                       HON. MADELEINE Z. BORDALLO

                                of guam

                    in the house of representatives

                       Tuesday, November 25, 2003

  Ms. BORDALLO. Mr. Speaker, I rise today to congratulate the Calvo 
family of Guam as they celebrate the 65th anniversary of Calvo's 
Insurance. The name Calvo has long been synonymous with integrity, 
austerity, leadership, service to community, and entrepreneurial 
spirit. As a locally-owned small business, Calvo Enterprises has grown 
by never losing touch with its consumer base in Guam and constantly 
updating its business model to accommodate the ever-changing nature of 
commerce and society in Guam.
  In 1938, Calvo's Insurance founder Eduardo ``Jake'' Calvo began 
selling fire and typhoon policies out of his home in Hagatna. A banker 
by trade, Jake Calvo built upon his rapport with the local community in 
securing the trust of insurance policy holders throughout Guam. By 
forging personal relationships with clients and exemplifying the 
importance of delivering meaningful products to the people of Guam, 
Calvo's Insurance has grown to become one of the most important and 
recognized companies in Guam.
  The legacy of Jake Calvo has endured nearly four decades since his 
passing. In succeeding him, Jake Calvo's three sons, Paul M. Calvo, 
Edward M. Calvo and Thomas J. M. Calvo, carefully maintained the 
business standards of their father. Today, Calvo's Insurance is Guam's 
oldest and largest insurance agency.
  I would be remiss not to mention that Paul M. Calvo also served as 
Governor of Guam from 1979-1983 and helped develop a successful formula 
for economic growth in Guam.

[[Page 31993]]

He subsequently incorporated this experience in helping to develop an 
astute and forward-thinking business model for the family business. Now 
known as Calvo Enterprises, the Calvo family has diversified its 
positions in Guam's business sector, operating successful small 
businesses in local media, distributorships, restaurants, real estate, 
and retail.
  I also want to take this time to congratulate the current General 
Manager of Calvo's Insurance, Paul Calvo, on this momentous 
anniversary. Exemplifying the spirit of his late grandfather, Paul 
began as an underwriter for the family business and worked his way up 
through administrative and management positions before being placed in 
charge of the day-to-day activities of Calvo's Insurance. His 
leadership in the wake of Supertyphoons Chata'an and Pongsona in 2002 
was crucial to the prompt dispatch of insurance adjusters and 
subsequent processing of insurance claims throughout Guam.
  To Calvo Enterprises and the entire Calvo family, congratulations! 
Thank you for your many years of leadership in the local business 
community, and I wish you continued success.

                          ____________________