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Originally Posted by RickyMaveety
It was my understanding that USAA was founded as an insurance company specifically for Federal Employees and the members of the Armed Services.
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Sort of. Actually:
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In 1922, when 25 Army officers met in San Antonio and decided to insure each other's vehicles, they could not have imagined that their tiny organization would one day serve 6.4 million members and become the only fully integrated financial services company in America.
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Originally Posted by RickyMaveety
It is (or was for many many years) subject to special rules and restrictions and was not open for investment by the general public.
Most "private sector" insurance companies (unless they are held by a closed corporation) are open to investment by the general public.
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I'm not sure what you mean here. USAA is a privately held company. It is not publicly traded. When you mean "investment" you mean the ability to buy their services? Or do you mean buy their stock?
But it certainly is a "private sector" insurance company as is Metropolitan or Allstate or such.
BOb