Robert McDermott, 86, the former chairman of USAA Insurance and a retired Air Force brigadier general, died yesterday in San Antonio, Texas. He was 86.
According to the San Antonio Express-News, Mr. McDermott died at Brooke Army Medical Center of complications from a stroke he suffered Aug. 17, after being stricken in his office at the University of the Incarnate Word, where he had been executive in residence and lecturer since February.
USAA, based in San Antonio, said Mr. McDermott joined the company in 1968 as executive vice president after a career in the military. He was named president in 1969, and retired as chairman of the board in 1993.
During his tenure, USAA, which offers other financial services in addition to insurance exclusively to military personnel and veterans, grew from 2,683 employees to more than 15,000, and from the nation's 16th largest auto insurer to the 5th largest. The carrier's owned and managed assets grew from $207 million to $29.5 billion.
The company said that also under Mr. McDermott's leadership, USAA expanded from writing property-casualty insurance, adding a bank, life insurance, investments, and member services.
USAA noted that its headquarters building in San Antonio bears Mr. McDermott's name, as do a local elementary school and Interstate 10 in northwest San Antonio. An academic chair at West Point and a scholarship at the Air Force Academy also are named for him.
Born in Boston, Mr. McDermott graduated from West Point in 1943 and won decorations as a P-38 fighter pilot in World War II.
After the war, he earned a master's degree in business from Harvard University in Cambridge, Mass., and served as a professor at United States Military Academy at West Point. He also served as dean of the United States Air Force Academy. After retiring from USAA, he was named chairman emeritus of the company.
"General McDermott made a significant impact on USAA and the city of San Antonio," said Bob Davis, USAA's chief executive officer. "He was a well-respected military leader, and he demonstrated his commitment to military members and their families through his leadership at USAA. All of us at USAA offer our deepest sympathies to the family members, friends, and colleagues who mourn his passing today."
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