USAA CEO compensation rose dramatically in 2023 — along with customer premiums

USAA President and CEO Wayne Peacock's compensation increased in 2023, while the company, headquartered in San Antonio, reported its first-ever annual loss in 2022.USAA President and CEO Wayne Peacock was paid at least $8.1 million in 2023, an increase of more than two-thirds of his 2022 compensation of $4.8 million.

Whoops! There was an error and we couldn't process your subscription. Please reload the page and try again. In addition to insurance, USAA provides insurance, banking and investment services to more than 13 million members of the U.S. military, veterans and their families, according to its 2022 annual report.

“But they are quietly handing CEOs gigantic bonuses. … here needs to be more scrutiny of the rate hikes companies are demanding and the huge CEO paydays that are funded with customer premiums.”at ten insurance giants, including USAA. Peacock’s was the lowest of the ten; CEOs at State Farm and Travelers pulled in $24 million and $20 million, respectively.

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