How an insurance agent became CEO of Philam Life

by Kathleen A. Martin,

Posted at Feb 12 2013 05:17 PM | Updated as of Feb 14 2013 03:35 AM

How an insurance agent became CEO of Philam Life 1Rex Mendoza, president and CEO of Philam Life -- Photo grabbed from

MANILA, Philippines - He simply "took the plunge."

Rex Mendoza, who entered Philam Life as a managerial trainee before coveting an executive position, shocked his peers when he resigned to become an insurance agent.

"I was about to be promoted to a very senior position when I resigned to be an agent," Mendoza, Philam Life's president and chief executive officer since 2011, told ANC's Pipol.

The income was probably one of the lures that led him to make the decision, but Mendoza said it was more of seeing the agents really having a good time and enjoying the challenge their jobs posed.

"Earning variable income is really in direct function of effort. So I really felt, if they can do that then I'll probably be able to that too," Mendoza said.

"I took the plunge and frankly, I did very, very well," he quipped with a smile.

During his first year as an agent, Mendoza garnered awards at the company, including being a Million Dollar Round Table member, a recognition of excellence in sales.

"When I left the executive corps, I wanted a game for myself. I wanted to be my own boss," Mendoza stressed.

He related choosing a career path far from what his parents wanted compelled him to do his best.

"I had to be good at it. I didn't have a fall back position... My capital is myself, my capability," Mendoza said.