Stock Transactions

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Stock Transactions

STOCK TRANSACTIONS

During 2014, in connection with the distribution of benefits due under its employee benefit plans, RGA issued 584,915 shares of common stock from treasury and repurchased from recipients 49,564 of its common shares, at $78.22 per share, in settlement of income tax withholding requirements incurred by recipients. Additionally, in 2014, non-employee directors were granted a total of 13,800 shares of common stock.

In January 2013, RGA’s board of directors authorized a share repurchase program, with no expiration date, for up to $200.0 million of RGA’s outstanding common stock. In April 2013, RGA’s board of directors authorized an increase of $100.0 million to the share repurchase program previously authorized in January 2013. In July 2013, RGA’s board of directors authorized an additional increase of $100.0 million to the share repurchase program previously authorized in January 2013. During 2013, RGA repurchased 4,151,312 shares of common stock under this program for $261.3 million. The common shares repurchased have been placed into treasury to be used for general corporate purposes.

In February 2014, RGA’s board of directors authorized a share repurchase program, with no expiration date, to repurchase up to $300.0 million of RGA’s outstanding common stock. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2013. During 2014, RGA repurchased 2,530,608 shares of common stock under this program for $197.7 million. The common shares repurchased have been placed into treasury to be used for general corporate purposes.

On January 22, 2015, RGA’s board of directors authorized a share repurchase program for up to $300.0 million of the RGA’s outstanding common stock. The authorization is effective immediately and does not have an expiration date. In connection with this new authorization, the board of directors terminated the stock repurchase authority granted in 2014.