Eddie M. Sotiangco: MAN & MYTH

By ALVIN REYES
October 2001

It is mid-afternoon at the corporate headquarters of The Sotiangco Group of Companies, and as usual, the man popularly known as "Mr. Insurance" is tied up with a client who has come in for an insurance consultation. Impeccably dressed in a custom-made Armani suit, he politely disengages himself from the client to shake my hand in the hallway.

"You're just in time" he says, "Let me finish up in here and then we can talk in my office." He instructs one of his associates to escort me to his office at the end of the hallway. I immediately follow this tall and well-groomed man who introduces himself as the Vice President of Operations. As we reach our destination, he opens the door to a room that at first glance, seems filled with vignettes of Eddie Sotiangco's personal history. He guides me to a lounge chair and wishes me a great time. Evidently, in this environment where Eddie Sotiangco holds court, no one person is deemed unimportant.

"This is Mr. Sotiangco's golden rule," the VP says, "and that is to treat everybody with the same respect that you would want extended to yourself."

I look around as I wait for the man. Simple yet elegant in design, Sotiangco's office is filled with awards and mementos garnered from over 31 years in the insurance business. There are pictures of his two Rolls Royces on one wall framing a picture of him sailing on a yacht. Next to it, a cabinet overflows with championship golf trophies, 1/18 scale replicas of his Rolls Royces and a miniature of his black 600 SL Mercedes Benz. Interestingly enough, across the room on another wall are the man's pride and joy: numerous plaques that somehow unravel the mystery, or myth if you will, behind the man so many people in the community have heard so much about, or talked about, had met personally or had done business with.

He suddenly appears, walking unnoticeably through the door, and comfortably sinks into his leather chair, smiling broadly. The man who counts being a professional magician as one of his talents is ready to answer whatever questions would be thrown his way.

From the 1970s until the 1990s, Filipino-Americans invariably equated the name Eddie M. Sotiangco to success. The flamboyant entrepreneur and highly-successful insurance salesman was considered the brightest star among scores of Filipino achievers in the United States. Having earned millions of dollars as one of the top insurance salesmen in the world, he earned the monicker "Mr. Insurance" as he lorded it over the Filipino-American business and social scene. Like a legendary figure who commanded attention everywhere he made an appearance, Sotiangco always managed to stand out among the crowd, always dressed in expensive suits and shoes and glittering jewelry, as he drove one of his many luxury cars, usually his signature Rolls Royce or a Mercedes Benz.

Beyond the amenities afforded by his office, Sotiangco acts very much like a tried and true CEO.

"Well, I am a Chief Executive after all!.This is because in the insurance business, you cannot afford to waste time making flowery speeches, people are only interested in facts especially when their hard-earned dollars are involved. Good communication and proper timing after all, are the keys to a successful presentation," he explains.

" Nobody has ever said no to me when I'm selling insurance," Sotiangco declares.

His secret, he claims, is product knowledge. "I have been doing this since 1969 and I know my business. I talk sense. I talk facts. I am the best."

Some of the facts: In 1970 to the early 90's Eddie M. Sotiangco reportedly owned the number one insurance agency, not just in America, but in the world. He was also (and still is) one of the top 100 insurance underwriters in the world based on personal production, earning him the "Top of the Table" Award for 18 consecutive years, an award given only to those few gifted salespeople with at least $1 million in "paid" premiums. To receive the award once is considered a lifetime achievement for most in the business, but to garner it 18 times , as Sotiangco did, was deemed legendary. In 1985, the California Examiner, a weekly Filipino-American newspaper in California reported that the Sotiangco Insurance Agency, Inc. produced more than $500 million in volume, at about the same time that four career SGC agents also qualified for the Top of the Table awards.

The Sotiangco Insurance Agency was established in 1970, the flagship of Sotiangco's vast business empire. Starting with five dedicated and hardworking individuals, the agency offered total life insurance services, with the Los Angeles area as its primary market. The business catered to families of different classes and with an aggressive agent-recruiting campaign, the agency's clients inevitably multiplied. Demand for diversified services was high, prompting the creation of EMS Tax Consultants, Pan-Asiatic Brokers and Starflight Travel Agency. With this major development the agency's name was subsequently changed to Sotiangco Enterprises. At this time, manpower also increased from the original five staffmembers to more than a hundred employees. The first building bearing Sotiangco's name was inaugurated in 1979 and another Sotiangco building rose on Wilshire Blvd in 1983. The creation of branches in San Diego, Chicago, Guam and Hawaii and the introduction of additional services by the Sotiangco Finance and Tax Shelter Companies, Sotiangco Concepts Advertising and the formation of SGC Pacific Entertainment Corp., Secure Money Alternatives, Inc., and the L. A. Computer College saw the rebirth of the enterprise now operating as The Sotiangco Group of Companies.

Undeniably a man of many talents, not everything is business for Sotiangco.Aside from being a professional magician, he is also an Elvis impersonator who had the opportunity to perform in Las Vegas with famous celebrities, a lawyer, a psychologist, a school leader, a golf and chess champion and a philanthropist. So popular and successful was he that former Mayor Monty Manibog of Monterey Park declared October 13 "Eddie Sotiangco Day" on the same day that the late L. A. Mayor Tom Bradley publicly described him "a brilliant, successful man."

In 1997, Eddie Sotiangco suddenly decided to "retire" from the social scene. Many Filipino-Americans who had gotten used to his high-profile image wondered why. Did he, like many brightly shining stars, simply burn out?

"Not really!" he says. "I never really retired. I merely decided to concentrate on other things," he avers.

Unknown to many who followed the social scene, Mr. Insurance still maintained his business; certainly he maintained his existing insurance accounts, but as a business decision, ceased actively recruiting new agents and new accounts. "I was in the limelight because of my insurance business, so when I stopped recruiting agents, I also decided to lay low from the limelight," he added.

As he talks of his company's future , we are interrupted by a staffer who reminds him about a Sales Seminar scheduled for that evening. After four relatively quiet years, does this mean Eddie M. Sotiangco is back?

Sotiangco confirms he has resumed active recruitment of new agents and new clients in his reinvigorated Sotiangco Insurance Agency. "In 1999, my associates approached me and asked me to start recruiting agents again. They begged me not to retire from the insurance industry, so I can continue to be their guide, the only insurance guru they knew," Sotiangco said. "So now that I'm active again in the insurance business, I'll be back in the limelight, too."

He deems his flamboyant lifestyle a business requirement. "Success attracts success" he muses. "If I didn't dress up like this, a person buying a million dollar insurance policy will not do business with me. Besides, my goal is to take the lead in helping as many Filipinos as possible that pass my way. I deal with a lot of businesses from different parts of the globe and I feel that my lifestyle uplifts the image of the Filipino - in a way that affects you too."

Sotiangco has always believed that the road to success is attributed to three D's - Determination, Dedication, Desire, and belief in God's almighty power. "It's the guy up there who's always guiding me, " Eddie reiterated. "He tells me whether to get involved in a business or not. He says "Go" or "No Go." Somehow he lets me know. He makes me feel it. Through the Holy Spirit, He shows me the way," he says.

Four years of keeping a low profile was apparently a prelude to his plans that would be on grander scale. The second launching of The Sotiangco Group of Companies is set in January 2002, still headed by very profitable day to day operations of the massive Sotiangco Insurance Agency, Inc. offering Life, Annuity and other investment products. The new group is now composed of EMS Tax Consultants, Starflight Travel Agency, L.A. Mortgage & Realty Co., and Philtel Ltd. Just last week, the newest baby in the Sotiangco family was born. The Infinity One Insurance Services was created to offer the lowest possible rates for old and new clients looking for the best auto, home, commercial and other property and casualty products.

So what's next for the man whose success virtually turned him into a myth? "We are again looking for individuals who are interested in becoming successful." He says, "Our organization has always been a training ground for many of our kababayans. I don't need to mention names, because they know who they are. Many of our associates are now successful because of their association with SGC".

A man who lives life one day at a time, Sotiangco admits :"I live today as if it were the last day of my life. I do everything that will make me happy today." That may be a cliche for some, but to those who work for him, and especially to those who have benefited from his own success and expertise, it is sheer wisdom from quite a gifted man.

More importantly, Sotiangco has evidently lived up to his image as role model not only to Filipino-Americans but, as Mayor Bardley said, " to all Americans. This is so true, the two hours I've spent with this man has convinced me that his life is not a myth but truly legendary. But the one thing I will never forget about this living legend is his willingness to share his magic touch."

"I am a giving personÉthe more I share, the more God gives back to me. But If I don't share, I know He'll take it all back," Sotiangco says.

I started the day with a purpose, to finally uncover the mystery behind the myth. What I found instead was a genuine person whose only mission in life is to better the Filipino image. As hard as I tried, I couldn't find anything wrong with that.