USAA Financial Performances from Time to TimeUSAA Financial Performances from Time to Time

USAA Financial Performances from Time to Time- United Services Automobile Association (USAA) is one of the biggest financial companies in United States of America (USA) which has headquarter in San Antonio, Texas United States. This company provided insurance, Investing, financial planning, and banking products to members of the military, veterans, and their relatives. Historically, this company was founded on June 20, 1922.  Until 2022, this company has employed 37,000 of people.

Commonly, in insurance industries, United Services Automobile Association (USAA) has some insurance products. Along with business development, The USAA has many diversified insurance products.

  • Vehicle Insurance

The insurance products consist of Auto Insurance, Pay as You Drive Auto Insurance, Motorcycle Insurance, ATV Insurance, RV and Motorhome Insurance, Boat Insurance, Personal Watercraft Insurance, Bicycle and E-Bike Insurance, Classic and Collector Car Insurance, and Aviation Insurance.

  • Property Insurance

This consist of Renters Insurance, Homeowners Insurance, Condo Insurance, Landowner Insurance, Valuable Personal Property Insurance, Flood Insurance, Mobile Home Insurance, Farm and Ranch Insurance, Collectibles Insurance, and Cell Phone Protection

  • Life Insurance
  • Umbrella Insurance (Protection finances and assets)
  • Health Insurance (Medicare Plans, Individual and Family Plans, Dental Insurance Vision Insurance, and Accidental Injury Insurance)
  • Long-Term Care (Get protection for when you need it most)
  • Annuities (Grow and protect your retirement savings)
  • Business Insurance
  • Additional Insurance (Pet Insurance, Travel Insurance, Special Event Insurance, Personal Cyber Insurance)

Beside in insurance, the USAA also has some banking products. These banking products including:

  • Checking (Savings, Credit Cards, Youth Banking, Certificates of Deposit) 
  • Loans (Auto Loans, Personal Loans, RV Loans, Boat Loans, Motorcycle Loans, Leisure Vehicle Loans)
  • Home Mortgages (Mortgages, Mortgage Rates, Refinance, VA Loan, Mortgage Payment Assistance Options)

In investing services, USAA has some products including Brokerage and Trading, Mutual Funds, IRAs, and Rollovers, 529 Education Plans, Automated Investing, and Financial Planning. Meanwhile, in retirement program, USAA has Annuities, IRAs and Rollovers, and Long-Term Care.

USAA Financial Performances from Time to Time- All of the products and services from USAA

As of one of the biggest insurance companies in United States of America (USA), the performance of USAA was good enough until 2022. All the data was obtained from Annual Report of USAA from 2014 to 2022.

Net Insurance premiums of United Services Automobile Association (USAA) from 2014 to 2022

YearsNet Insurance premiums
In USD Millions
2022$ 28,097
2021$ 26,323
2020$ 25,388
2019$ 23,973
2018$ 22,214
2017$ 20,093
2016$ 18,287
2015$ 16,786
2014$ 15,621
Source :USAA Annual Report To Members, 2022-2016

The financial performance of USAA in insurance industries has grown since 2014. In that year, USAA’s net insurance premium reached USD 15.6 billion. It has increased into USD 28 billion in 2022.

The Revenue and Net Income of USAA from 2014 to 2022

YearsRevenueNet Income
In USD MillionsIn USD Millions
2022 $ 36,297 ($1,281)
2021 $ 37,530 $3,374
2020 $ 36,296 $3,915
2019$ 35,617$ 4,006
2018$ 31,367 $ 2,291
2017$ 30,016 $ 2,422
2016$ 27,131$ 1,779
2015$ 24,361 $ 2,266
2014$ 24,033 $ 3,405
Source :USAA Annual Report To Members, 2022-2016

Based on Income statement of USAA from 2014 to 2022, The revenue of USSA also in positive trend. In 2014, the revenue of USAA was in USD 24 billion and increased into USD 36 billion in 2022. With the positive growths of Revenue, it has not positive correlation with net income. The net income of USAA was instable conditions. In 2014, USSA got USD 3.4 billion and in the last 2022, the company suffered net loss around USD 1.2 billion.

The Assets and Liabilities of USAA from 2014 to 2022

YearsAssetsLiabilities
In USD MillionsIn USD Millions
2022$204,005 $176,578
2021$210,677 $170,531
2020$200,349 $159,910
2019$ 173,732$ 138,405
2018$ 158,507 $ 127,329
2017$ 155,391 $ 124,783
2016$ 147,290$ 118,450
2015$ 137,075 $ 109,301
2014$ 130,254 $ 103,621
Source :USAA Annual Report To Members, 2022-2016

Based on the balance sheet of annual report, in the financial position, the USAA has stable conditions. in 2014, the assets of USAA in 2104 was $ 130,254 million with liabilities around $ 103,621 million. In 2022, the assets of USAA were around USD 204,005 million with liabilities around USD 176,578 million. 

USAA- Assets and Liabilities Conditions of USAA Insurances


USAA- Revenue and Net Income Conditions of USAA Insurances


USAA- Net Insurance Premiums Conditions of USAA Insurances

Bibliography of USAA Financial Performances from Time to Time

USAA. 2023.USAA Annual Report to Members. Accessed via https://www.usaa.com/inet/wc/annual-report-to-members?akredirect=true on July 17th, 2023.

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