USAA CFO Says Insurer Should Not Make Too Much Money for Military Families

1 articles · Updated · Bloomberg · May 24

Brett Seybold said USAA’s finance strategy is not to maximize profit, arguing the insurer should avoid making “too much money” from members it was created to serve.
USAA’s mutual-ownership structure drives that approach, letting the company weigh pricing, returns and capital decisions against its mission to support military families.
The stance sets USAA apart from most corporate finance playbooks, where CFOs are typically judged on pushing earnings higher rather than limiting excess profitability.
The interview highlights how war-time pressures on service members and their families are shaping financial decisions at an insurer built around that customer base.

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