USAA had the highest profit last year ($7.9 B) almost twice as much as last year. Almost 7.0B was in P&C alone.
Based on the above earnings, ideally the company scorecard should be higher than at least 125%.
The real driver of the high profitability was because of all the efforts of the senior leadership and they need to be awarded handsomely. But unfortunately you people won’t understand that, so we are going to do the next best thing, not tell you anything and still reward the senior management. So we lowered allocation for you to give more to the senior management.
We will hide behind false numbers like what we gave to Members which increased from 3.7B to 3.8B to 4.0B just during the meeting, but no details will be provided on the breakdown of that number.
Unfortunately the real truth will be reported by the local media in March when the senior management compensation becomes public through insurance company filings. So, we are working with local media to see if we can suppress that information.
Cheers!