USAA gave president and chief executive Stuart Parker 19% more in salaries from its businesses in 2016, which the company described as historic due to catastrophe-related claims.
Data from the Nebraska Department of Insurance revealed that USAA’s four businesses paid Parker $2.7 million in 2016 compared with $2.3 million in 2015.
MySA added in a report that the company’s 2016 financial performance was affected by several factors, including what it said was a “historic year for catastrophe related claims.”
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Claims rose more than 200% last year due partly to hailstorms and Hurricane Matthew, the publication reported.
Its other employees also got an across the board 16.8% annual performance bonus in 2016, reflecting a marginal decline from the 17% paid out in 2015. It was the lowest payout since 2008, the report added.
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