Then and now

Pacifica Insurance always comes to mind when we talk of insurance, not only because it is one of the most established insurance companies in the CNMI, but also because of its successes and existence through decades of operation that speaks well of its longevity, reliability, and quality service.

Pacifica Insurance Underwriters Inc. was established in 1973 by the late Jose C. Tenorio, better known as Joeten, and Joseph “Joe” Screen, with the help of the Kuribayashi family through their company, Nanyo Boeki Kaisha (NBK), which was instrumental in the establishment of a business partnership with Nanbo Insurance, at that time the Managing General Agent of Japan’s oldest insurance carrier, Tokio Marine & Fire Insurance Limited (TMI), in Guam. That later led to the appointment of the newly formed PIUI as TMI’s exclusive MGA in the CNMI. It was a shared vision by a group of business associates who were looking for ways to help the Marianas develop economically by way of insurance.

That vision has been passed on to the second and third generations of the Joeten, Kuribayashi, Screen, Ada, and Terlaje families.

Before Pacifica’s establishment…

Joeten had his first taste of managing an insurance company in the mid-’60s while working with businessman Ernie Milne. The two founded the first known locally established insurance agency in the CNMI, the Micronesian Insurance Underwriters, or MIU. That initial foray made Joeten realize that the Marianas needed a partner in insurance to enhance its ability to undertake larger risks that would attract serious investors and thereby create an economy that he hoped would sufficiently support the local population.

In simpler terms, Joeten wanted to enable the local community to have a real chance of acquiring loans to build their dream home, buy cars, open their own businesses, and obtain reliable insurance that will protect them.

Also, this desire to expand into the insurance industry was a direct result of Tenorio’s personal journey as a businessman. He was engaged in a variety of businesses such as retail, wholesale, hospitality, shipping, gasoline, auto dealership, stevedoring, pharmacy, banking, manufacturing, among other lists of businesses. That all meant he needed to have his business assets protected.

That objective was realized when he co-founded Pacifica Insurance Underwriters Inc. in the early ’70s. Tenorio believed that, with the reputation he has established in the business industry, and with the help of his wife, Soledad “Daidai” Tenorio, who is not only an influential figure in the CNMI but was herself a mover and shaker in the business community, they could leverage their business stature to build and strengthen professional relationships that would benefit the entire community.

Fortunately, Tenorio had a strong partner in the person of Joe Screen, who shared the same vision with Tenorio, and firmly believed in insurance. Screen helped to establish PIUI’s operation in the Marianas region and played a major role in helping secure PIUI’s appointment as Tokio Marine & Fire Insurance Limited’s Managing General Agent in the CNMI, thanks to the help of of its regional partner in Guam, Nanbo Insurance, TMI’s Managing General Agent in Guam at the time.

With the help of the Kuribayashi family through their company, the Nanyo Boeki Kaisha, or NBK, they were instrumental in the establishment of a partnership that shaped the company into becoming a full-fledged and full-line insurance agency that offers coverages beyond the standard property and casualty.

When PIUI opened for business, that then helped to establish an industry that was vital to the economic growth and development of the CNMI.

Today, PIUI has become one of the leading insurance firms in the CNMI and is now under the leadership of Shirley Sablan, who is presently the company’s President and CEO.

Under Sablan’s helm, the company has experienced exponential growth and further product diversification and added partnerships to broaden insurance options and enhance capacity.

Sablan said their everyday objective is to provide insurance and assurance for times of uncertainties and to help with personal and commercial financial risk management to prevent potentially catastrophic losses.

“We make the promise of peace of mind and guarantee that we will be there for those covered losses. Whether it’s owning a home, opening a business or hiring employees, there will be risk exposures that will naturally become the fundamental purpose of insurance,” Sablan said.

Sablan knows all too well the vital role that insurance plays in any community, having led the company through two of the CNMI’s worst natural disasters, Super Typhoon Yutu and Typhoon Soudelor, and the 2019 COVID-19 pandemic.

The men and women behind PIUI

The founders and shareholders of PIUI include the late Joeten, his wife, Soledad, their children Annie, Clarence, Patricia, Frances, Norman, Priscilla; Screen, whose shares were passed on to his son, Stephen Alex Screen; Nanyo Boeki Kaisha of the Kuribayashi family; Tatsuru Ariizumi, whose shares were donated to the Joeten Daidai Foundation; the late Pete Ada Jr., whose share was passed on to his son, P. Sonny Ada, and the late Edward Terlaje.

Past corporation directors, officers, and recorders include Jose “Joeten” Tenorio, Tukugoro Kuribayashi, Joe Screen, Tatsuru Ariizumi, Pete Ada Jr., Edward Terlaje, Roman S. Palacios, Patricia Palacios, Clarence T. Tenorio, Akira Inoue, Yoshie Screen, Yukio Kuribayashi, Michael S. Demapan and John Terlaje.

Current corporation directors, officers, and recorder include Norman Tenorio, Annie Sablan, Alex Screen, P. Sonny Ada, Hiroyuki Kuribayashi, Roman T. Palacios, Shirley Sablan, and Mike Terlaje.

Past and present presidents and chief executive officers of PIUI include Roman S. Palacios, Norman Tenorio, and Shirley Ann T. Sablan.

Past general managers include Tatsuru Ariizumi and Estanislao “Stan” Waki.

In the early days of the company, past president and chief executive officer Roman S. Palacios and Tatsuru Ariizumi as NBK representative were key figures in helping the company founders set up the company, from executing the partnership agreements to recruitment, training, and binding the first insurance policy, making sure that the infancy stage of Pacifica Insurance saw a solid foundation that would sustain operations for the years ahead, especially when the CNMI saw good times during the economic boom and when it had to weather the storm through countless devastating natural disasters.

“Whether big or small, both past and present, everyone involved in the making and operating of PIUI had a hand in its success, from the founders and board members, to the management and staff, partners, and our clients, I’ll call this group of star individuals Pacifica’s web of success because, without them, who knows where we’d be today,” Sablan said.

In looking back at the journey of the company, Sablan said every person who assumed the leadership role did extraordinary work and deserve equal credit “but we should also point out that our current chairman of the board, Norman T. Tenorio, had the longest tenure—over 37 years—as its president and CEO. He led the company with determination and strength through the toughest of economic times since stepping in and without a doubt has become a legendary figure in the insurance industry in the CNMI,” she added.

PIUI turns 50 years old

Coincidentally, PIUI is celebrating its 50th anniversary this year and Sablan said 50 years is already a major accomplishment in and of itself.

“A company will not have reached this milestone if the pieces did not fall into place. We have much to be proud of and our accomplishments can be found in the restoration, recovery, rebuilding, rehabilitation, and protection of the policy holders and members. We will never forget the smiles and thank yous. They were the moments when we knew we did it right.”

According to Sablan, however, “there is still room for improvement, but this is true for all industries and professions and we are ready to do it better in the next 50 years.”

“Challenges are expected. If there were none, it would be too good to be true and that can be a problem too. A leader is expected to face challenges—direct or indirect, internal or external, big or small—[that] will require the same level of attention and know-how. Shaping the company is only possible if you have the right team with the same level of determination and dedication to get the job done. Luckily for us, we are blessed with the dream team. I always remind our team that, in a service industry, they become the face of the company, which is why we make every effort to support them to ensure their success,” Sablan said, adding it is their love for those who have entrusted PIUI with their financial protections and security that keeps their team going and inspire them to do more.

“Our clients are at our core. We work hard to earn their trust and business. They are the driving force of Pacifica and the lifeblood of our company,” she added.

Secret of success

Wisdom, education, focus, honesty, selflessness, goodwill, and having faith are what Sablan considers the secrets behind the company’s decades of existence.

“Having faith in a higher power is one. In our business it is important to listen and understand in order to meet or exceed expectations and succeed in our profession,” she said.

Future plans

The direction for the next 50 years is to stay the course. Sablan said they will head in the same direction where they adapt to change and offer products and services that are relevant to the times.

“If estimates are right, the years ahead will require our industry to prepare for greater challenges, which means that survival and success will come harder. However, we will continue to invest in our human resources to ensure that our clients receive professional services and adequate coverage where they may find risks. We will find a way to bridge those gaps and fill those voids. Our future will be determined by the support of our community and the partnerships we maintain and develop. Our approach is togetherness because together will always make sense.”

“The business of insurance is providing assurance especially when it is most needed. Insurance policies that bind coverage become the promise of financial security and protection. There can be no debate about the importance of insurance because, as long as there are imperfections in life, there will always be a need for it. Instead of taking that chance, we would rather make smart choices and find ways to manage financial risks,” Sablan added.