USAA Reports Membership, Net Worth Growth Amid Record Year for Catastrophe Claims

SAN ANTONIO – According to its annual Report to Members, released today on, 2016 was a record year for USAA. The association reached highs in membership and net worth while also paying a record volume of insurance claims related to catastrophic weather events.


“USAA stands with our members through every step of life’s journey,” said USAA CEO Stuart Parker. “With an eye always on our mission, we helped guide our members through weather-related catastrophes, financial challenges and market uncertainties. I am proud of our team and thankful for our members’ trust.”


USAA reported the following financial results for 2016:


  • USAA’s net worth is approaching $29 billion – up more than $1 billion compared to year-end 2015. Net worth is an important measure of USAA’s financial strength.
  • USAA returned $1.4 billion to members and customers in the form of distributions, dividends, bank rebates and rewards .
  • Revenues of $27 billion – an increase of 11 percent.
  • Assets of $147 billion – an increase of seven percent.
  • Net income of almost $1.8 billion – the decline from 2015 reflects the $2 billion paid to help members recover from catastrophic weather events.
  • Nearly 322,000 catastrophe-related claims – 2.5 times 2015 volumes.

Record claim volumes and the continuing industry trend of rising costs for auto repairs were factors in a lower net income figure for 2016. So, too, were USAA’s investments in cybersecurity, technology infrastructure and digital capabilities to maintain best-in-class service to its members.


“We achieved solid results in one of the most challenging years in our history,” Parker said. “We continued investing in infrastructure to better serve our members and increased our financial strength. As a result, USAA will be there when our members need us, today and far into the future.”



Beyond the Balance Sheet


The story of 2016 for USAA goes beyond the financial report. The association achieved a number of firsts while continuing to provide its members with the tools they need to manage their financial futures. Some of these accomplishments included:


  • Growing to a record 11.9 million USAA members — an increase of nearly 5 percent from 2015.
  • Retaining nearly 98 percent of USAA members from 2015 to 2016.
  • Conducting more than 1 billion digital interactions with members.
  • Enrolling more than 2 million members in biometric authentication to better safeguard their financial information.
  • Avoiding $4.3 billion in fraud losses through our 24/7 monitoring and cyber security efforts.
  • Closing 65 percent more mortgages compared with 2015, a result of lower rates and improvements in USAA’s mortgage processes.
  • Employees and retirees donating more than $10 million to support nonprofit organizations, in addition to the more than $20 million in charitable contributions from USAA, USAA Federal Savings Bank and The USAA Foundation, Inc.[1]
  • USAA employees, retirees and their families volunteering more than 400,000 hours to support our communities.
  • Climbing eight spots to No. 114 on the FORTUNE 500® list of the largest companies in the U.S.based on revenues
  • Recieving several recognitions for being a great place to work including: FORTUNE 100 Best Companies to Work For®[2] and the Gallup Great Workplace Award. In addition, USAA was recognized as one of the Ethisphere Institute’s World’s Most Ethical Companies®, as well as being highly ranked in the Harris Poll Reputation Quotient®.


About USAA
The USAA family of companies provides insurance, banking, investments, retirement products and advice to 12 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit





[1] The USAA Foundation, Inc., a nonprofit organization, supports organizations that provide services in the areas of education, health and human services, arts and culture, and civic and economic development primarily in the communities where USAA employees live and work. The USAA Foundation, Inc., does not endorse or promote any commercial supplier, products or services. USAA is the sponsor of The USAA Foundation.

[2] Fortune and the Fortune 500 are registered trademarks of Time Inc and are used under license.


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