When it comes to the Coyiuto business empire, economic journalists of my generation know Robert Coyiuto Jr. or RCJ; the older journalists know his father, Robert Coyiuto Sr.
And that’s usually how you can tell how old a journalist is – whether he or she covered the first generation taipan or the second generation tycoon or even the third generation successor. More than figuring out a journalist’s age and times though, what this really shows us is that in the Philippines, many of the sprawling conglomerates cut across generations, surviving the changing times with their enduring legacies.
The Coyiuto business empire is no exception and it all started with the patriarch, Robert Coyiuto Sr.
This year, to celebrate his 100th birth anniversary (1923 to 2023) and his contributions to the Philippine insurance industry, the Philippine Postal Corp. (PHLPost) led by Postmaster General Luis Carlo released Robert Coyiuto Sr. commemorative stamps.
‘Insurance Industry Trailblazer’’
The commemorative stamp features the black and white photo of the very dapper Robert Coyiuto Sr. in a coat and tie. Inscribed below are the words “Insurance Industry Trailblazer,” in honor of his legacy of insurance in the Philippines, having founded Prudential Guarantee and Assurance Inc. (PGA).
The souvenir sheet’s artistic rendition, designed by PHLPost, meanwhile, highlights a color photograph of Coyiuto in a crisp ocean blue suit and dark tie.
Behind him is a detail of the PGA logo representing the five Coyiuto sons – Robert Jr., James, Samuel, Peter and Miguel – who carried on their father’s legacy and propelled the company to more success, PHLPost said.
“Further, the Official First-Day Cover includes a sketch of Robert by Rafael Casal; a rubber stamp image of the Robert Coyiuto 100th Birth Centenary Rosal Logo and the Rosa Aragon logo with the five vertical lines connoting the five sons of Robert and Rosalyn, and four horizontal lines representing the daughters.”
PHLPost has printed 40,000 copies of the stamp with a denomination of P16.00, another 5,000 pieces of limited souvenir sheets to be sold at P55 and 2,800 for the specially designed first day cover envelope with Rosal Logo canceller, available at the SM Manila Postal Counter.
Why a commemorative stamp? It’s perhaps because, as I learned from PHLPost, Coyiuto Sr. was a philatelist or stamp collector who loved to scribble handwritten notes to his children.
Whenever he traveled to other countries or when his children were studying abroad, the devoted father consistently mailed them postcards and enveloped letters.
Born in Fujian
Like many Filipino-Chinese who built business empires in the Philippines, Coyiuto Sr. was born in Fujian, China in 1923. He settled in Manila after World War II with his brothers.
Sometime in 2019, I had the chance to visit Fujian and one afternoon, while sipping black rose tea in a quaint little tea room, I couldn’t help but wonder – what was it about this province that bred future billionaires?
Was it the spirit of the mystical mountains surrounding the province or was it the lucky nine dragons in Fujian? Or perhaps, it was the tea?
Nobody knows for sure but locals point to the province’s troubled past, including Opium Wars and later on, the war. The difficult life forced many ethnic Chinese to jump aboard departing ships and survive elsewhere.
Perhaps, this was the reason why Coyiuto Sr. also moved to the Philippines after the war.
In 1977, he became the first Filipino to join the prestigious insurance market, Lloyds of London. In 1981, he founded PGA.
“His legacy of prudence, industry and love of country is carried on by his heirs who have become distinguished business leaders of their own,” PHLPost also said.
His legacy, indeed, endures.
The business he founded is now led by RCJ, as the second generation business magnate is known in the business community. RCJ is chairman and CEO of PGA.
When RCJ’s father passed away at the young age of 58, the company itself was just a year old but RCJ was able to grow the business into one of the largest non-life insurance companies in the country.
He also ventured into other businesses. RCJ’s portfolio now includes investments in energy exploration, securities and luxury cars. His PGA Cars is the distributor of luxury supercar brands including Audi and Porsche.
Not surprisingly, he is quite a supercar enthusiast. I once saw him along EDSA behind the wheel of a sleek, shiny white Porsche, if I remember correctly. He zoomed past my car, of course.
He is also co-vice chairman of the National Grid Corp. of the Philippines (NGCP), the grid operator. Like his father, he is also a known philanthropist.
Antonio’s at PGA Cars
But as someone who enjoys good food, I particularly like his move of bringing Antonio’s in Tagaytay to his PGA Cars Studio along EDSA.
A few weeks ago, I visited Antonio’s PGA for the first time, upon the invite of NGCP spokesperson, Atty. Cynthia Alabanza. We sat down for a chat over a gasp-worthy epicurean gastronomic adventure masterfully laid to us in detailed execution.
Antonio’s PGA Cars features exclusive contemporary French dishes by Cyrille Soenen, Maitres Cuisinier de France, with Chef Antonio “Tony Boy” Escalante’s famed steaks, etc.
I don’t know how RCJ was able to convince Chef Tony Boy to bring Antonio’s to Metro Manila but I am not surprised, especially from someone who successfully grew his father’s business to greater heights.
Robert Coyiuto Sr. must be so proud.
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Email: eyesgonzales@gmail.com. Follow her on Twitter @eyesgonzales. Column archives at EyesWideOpen on Facebook.