USAA
The United Services Automobile Association (USAA) is an American financial services company providing insurance and banking products exclusively to members of the military, veterans, and their families. It was founded in 1922 in San Antonio, Texas, by a group of 25 U.S. Army officers as a mechanism for mutual self-insurance when they were unable to secure auto insurance because of the perception that they, as military officers, were a high-risk group.
Native name | United Services Automobile Association |
|---|---|
| Company type | Private. Reciprocal inter-insurance exchange |
| Industry | |
| Founded | June 20, 1922 |
| Headquarters | San Antonio, Texas United States |
Number of locations | 5 financial centers |
Area served | Worldwide |
Key people |
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| Products | |
| Revenue | US$35.617 billion (2019) |
| $4.006 billion (2019) | |
| AUM | $128 billion (2015) |
| Total assets | $200 billion (2020) |
| Total equity | $35.327 billion (2019) |
| Members | 13 million (2020) |
Number of employees | 36,000 (2020) |
| Capital ratio | 13.27% |
| Rating | A.M. Best Company A++ (Superior, highest of 16 possible ratings) Moody's Investors Service Aaa (Exceptional, highest of 21 possible ratings) |
| Website | www |
USAA has since expanded to offer banking and insurance services to past and present members of the Armed Forces, officers and enlisted, and their families. The company ranked No. 96 in the 2020 Fortune 500 list of the largest United States corporations by total revenue and appeared on Fortune's 2021 Blue Ribbon list of companies, placing No. 355 on the Fortune Global 500, No. 94 on the Fortune 500, No. 55 on the 100 Best Companies to Work For and World’s Most Admired Companies. At the end of 2020, it had more than 13 million members.