NU Online News Service, April 8, 1:14 p.m. EDT
USAA in its annual report said net income declined by 77 percent or $1.443 billion last year, but the insurer noted it had an increase in net worth by 1.4 percent, to $14.6 billion from $14.4 billon in 2007.
The San Antonio, Texas-based personal lines insurer for military personnel said net income declined from $1.86 billion in 2007 to $423 million. USAA said it paid out $857 million in dividends, distributions, bank rebates and rewards.
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