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Condensed Financial Information of The Registrant (Tables)
 12 Months Ended
Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Statements [Table Text Block]
 
 
2013
 
2012
 
2011
CONDENSED BALANCE SHEETS
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Fixed maturity securities available-for-sale, at fair value
 
$
502,455

 
$
604,896

 
 
Short-term and other investments
 
261,853

 
64,681

 
 
Cash and cash equivalents
 
24,137

 
52,680

 
 
Investment in subsidiaries
 
7,534,714

 
8,148,532

 
 
Loans to subsidiaries
 
1,101,751

 
1,025,000

 
 
Other assets
 
204,887

 
155,190

 
 
Total assets
 
$
9,629,797

 
$
10,050,979

 
 
Liabilities and stockholders’ equity:
 
 
 
 
 
 
Long-term debt - unaffiliated(1)
 
$
2,294,278

 
$
1,895,181

 
 
Long-term debt - affiliated(2)
 
500,000

 
500,000

 
 
Other liabilities
 
899,992

 
745,611

 
 
Stockholders’ equity
 
5,935,527

 
6,910,187

 
 
Total liabilities and stockholders’ equity
 
$
9,629,797

 
$
10,050,979

 
 
CONDENSED STATEMENTS OF INCOME
 
 
 
 
 
 
Interest / dividend income(3)
 
$
275,215

 
$
86,396

 
$
245,631

Investment related gains (losses), net
 
1,714

 
4,515

 
1,723

Operating expenses
 
(21,164
)
 
(26,431
)
 
(32,550
)
Interest expense
 
(162,212
)
 
(143,260
)
 
(111,600
)
Income (loss) before income tax and undistributed earnings of subsidiaries
 
93,553

 
(78,780
)
 
103,204

Income tax expense (benefit)
 
33,850

 
(9,566
)
 
8,935

Net income (loss) before undistributed earnings of subsidiaries
 
59,703

 
(69,214
)
 
94,269

Equity in undistributed earnings of subsidiaries
 
359,134

 
701,107

 
451,776

Net income
 
418,837

 
631,893

 
546,045

Other comprehensive income (loss)
 
21,033

 
9,984

 
(12,265
)
Total comprehensive income
 
$
439,870

 
$
641,877

 
$
533,780


The condensed financial information of RGA (the “Parent Company”) should be read in conjunction with the consolidated financial statements of RGA and its subsidiaries and the notes thereto (the “Consolidated Financial Statements”). These condensed unconsolidated financial statements reflect the results of operations, financial position and cash flows for RGA. Investments in subsidiaries are accounted for using the equity method of accounting.
 
(1)
Long-term debt - unaffiliated consists of the following:
 
 
2013
 
2012
$400 million 6.75% Junior Subordinated Debentures due 2065
 
$
398,657

 
$
398,727

$400 million 6.20% Subordinated Debentures due 2042
 
400,000

 
400,000

$400 million 4.70% Senior Notes due 2023
 
398,533

 
—

$400 million 5.00% Senior Notes due 2021
 
398,362

 
398,141

$400 million 6.45% Senior Notes due 2019
 
399,602

 
399,534

$300 million 5.625% Senior Notes due 2017
 
299,124

 
298,851

Total
 
$
2,294,278

 
$
1,895,253

Repayments of long-term debt—unaffiliated due over the next five years total $300,000, due 2017.
(2)
Long-term debt—affiliated in 2013 and 2012 and consists of $500,000 of subordinated debt issued to various operating subsidiaries.
(3)
Interest/Dividend income includes $175,000 and $190,000 of cash dividends received from consolidated subsidiaries in 2013 and 2011, respectively. Cash dividends received from consolidated subsidiaries in 2012 were not material.
REINSURANCE GROUP OF AMERICA, INCORPORATED
SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT (continued)
December 31,
(dollars in thousands)
 
 
 
2013
 
2012
 
2011
CONDENSED STATEMENTS OF CASH FLOWS
 
 
 
 
 
 
Operating activities:
 
 
Net income
 
$
418,837

 
$
631,893

 
$
546,045

Equity in earnings of subsidiaries
 
(359,134
)
 
(701,107
)
 
(453,806
)
Loss on retirement of trust preferred securities
 
—

 
—

 
4,391

Other, net
 
162,586

 
134,232

 
143,716

Net cash provided by operating activities
 
$
222,289

 
$
65,018

 
$
240,346

Investing activities:
 
 
 
 
 
 
Sales of fixed maturity securities available-for-sale
 
$
176,062

 
$
122,212

 
$
171,791

Purchases of fixed maturity securities available-for-sale
 
(103,566
)
 
(213,548
)
 
(116,010
)
Purchases of subsidiary debt securities
 
(76,751
)
 
(250,000
)
 
(475,000
)
Maturities of subsidiary debt securities
 
—

 
—

 
50,000

Purchase of a business, net of cash acquired of $9,709
 
(2,805
)
 
—

 
—

Change in short-term investments
 
(96,967
)
 
—

 
—

Change in other invested assets
 
(79,023
)
 
5,718

 
(2,055
)
Capital contributions to subsidiaries
 
(144,459
)
 
(70,431
)
 
(105,575
)
Net cash used in investing activities
 
(327,509
)
 
(406,049
)
 
(476,849
)
Financing activities:
 
 
 
 
 
 
Dividends to stockholders
 
(77,642
)
 
(61,945
)
 
(44,229
)
Purchases of treasury stock
 
(269,204
)
 
(6,924
)
 
(380,345
)
Excess tax benefits from share-based payment arrangement
 
—

 
416

 
4,933

Exercise of stock options, net
 
28,390

 
(3,087
)
 
6,449

Principal payments on debt
 
—

 
—

 
(200,000
)
Maturity of trust preferred securities
 
—

 
—

 
(159,473
)
Proceeds from unaffiliated long-term debt issuance
 
398,533

 
400,000

 
397,788

Debt issuance costs
 
(3,400
)
 
(6,255
)
 
(3,400
)
Proceeds from affiliated long-term debt issuance
 
—

 
—

 
500,000

Proceeds from redemption and remarketing of trust preferred securities
 
—

 
—

 
154,588

Net cash provided by financing activities
 
76,677

 
322,205

 
276,311

Net change in cash and cash equivalents
 
(28,543
)
 
(18,826
)
 
39,808

Cash and cash equivalents at beginning of year
 
52,680

 
71,506

 
31,698

Cash and cash equivalents at end of year
 
$
24,137

 
$
52,680

 
$
71,506

Supplementary information:
 
 
 
 
 
 
Cash paid for interest
 
$
141,615

 
$
130,047

 
$
98,809

Cash paid for income taxes, net of refunds
 
$
82,000

 
$
30,500

 
$
—