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Condensed Financial Information of The Registrant (Tables)
 12 Months Ended
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Statements [Table Text Block]
 
 
2014
 
2013
 
2012
CONDENSED BALANCE SHEETS
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Fixed maturity securities available-for-sale, at fair value
 
$
486,813

 
$
502,455

 
 
Short-term and other investments
 
87,726

 
261,853

 
 
Cash and cash equivalents
 
48,819

 
24,137

 
 
Investment in subsidiaries
 
8,649,084

 
7,534,714

 
 
Loans to subsidiaries
 
1,060,000

 
1,101,751

 
 
Other assets
 
360,059

 
204,887

 
 
Total assets
 
$
10,692,501

 
$
9,629,797

 
 
Liabilities and stockholders’ equity:
 
 
 
 
 
 
Long-term debt - unaffiliated(1)
 
$
2,294,993

 
$
2,294,278

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

 
500,000

 
 
Other liabilities
 
874,056

 
899,992

 
 
Stockholders’ equity
 
7,023,452

 
5,935,527

 
 
Total liabilities and stockholders’ equity
 
$
10,692,501

 
$
9,629,797

 
 
CONDENSED STATEMENTS OF INCOME
 
 
 
 
 
 
Interest / dividend income(3)
 
$
521,623

 
$
275,215

 
$
86,396

Investment related gains (losses), net
 
4,936

 
1,714

 
4,515

Operating expenses
 
(10,751
)
 
(21,164
)
 
(26,431
)
Interest expense
 
(131,852
)
 
(162,212
)
 
(143,260
)
Income (loss) before income tax and undistributed earnings of subsidiaries
 
383,956

 
93,553

 
(78,780
)
Income tax expense (benefit)
 
(22,008
)
 
33,850

 
(9,566
)
Net income (loss) before undistributed earnings of subsidiaries
 
405,964

 
59,703

 
(69,214
)
Equity in undistributed earnings of subsidiaries
 
278,083

 
359,134

 
701,107

Net income
 
684,047

 
418,837

 
631,893

Other comprehensive income
 
36,876

 
21,033

 
9,984

Total comprehensive income
 
$
720,923

 
$
439,870

 
$
641,877


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:
 
 
2014
 
2013
$400 million 6.75% Junior Subordinated Debentures due 2065
 
$
398,660

 
$
398,657

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

 
400,000

$400 million 4.70% Senior Notes due 2023
 
398,684

 
398,533

$400 million 5.00% Senior Notes due 2021
 
398,583

 
398,362

$400 million 6.45% Senior Notes due 2019
 
399,669

 
399,602

$300 million 5.625% Senior Notes due 2017
 
299,397

 
299,124

Total
 
$
2,294,993

 
$
2,294,278

Repayments of long-term debt—unaffiliated due over the next five years total $300,000, in 2017 and $400,000 in 2019.
(2)
Long-term debt—affiliated in 2014 and 2013 and consists of $500,000 of subordinated debt issued to various operating subsidiaries.
(3)
Interest/Dividend income includes $423,323 and $175,000 of cash dividends received from consolidated subsidiaries in 2014 and 2013, 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)
 
 
 
2014
 
2013
 
2012
CONDENSED STATEMENTS OF CASH FLOWS
 
 
 
 
 
 
Operating activities:
 
 
Net income
 
$
684,047

 
$
418,837

 
$
631,893

Equity in earnings of subsidiaries
 
(278,083
)
 
(359,134
)
 
(701,107
)
Other, net
 
(171,299
)
 
162,586

 
134,232

Net cash provided by operating activities
 
$
234,665

 
$
222,289

 
$
65,018

Investing activities:
 
 
 
 
 
 
Sales of fixed maturity securities available-for-sale
 
$
132,732

 
$
176,062

 
$
122,212

Purchases of fixed maturity securities available-for-sale
 
(105,535
)
 
(103,566
)
 
(213,548
)
Repayments/issuances of loans to subsidiaries
 
41,751

 
(76,751
)
 
(250,000
)
Purchase of a business, net of cash acquired of $9,709
 
—

 
(2,805
)
 
—

Change in short-term investments
 
96,967

 
(96,967
)
 
—

Change in other invested assets
 
126,397

 
(79,023
)
 
5,718

Capital contributions to subsidiaries
 
(222,760
)
 
(144,459
)
 
(70,431
)
Net cash used in investing activities
 
69,552

 
(327,509
)
 
(406,049
)
Financing activities:
 
 
 
 
 
 
Dividends to stockholders
 
(87,256
)
 
(77,642
)
 
(61,945
)
Purchases of treasury stock
 
(201,525
)
 
(269,204
)
 
(6,924
)
Excess tax benefits from share-based payment arrangement
 
—

 
—

 
416

Exercise of stock options, net
 
9,246

 
28,390

 
(3,087
)
Proceeds from unaffiliated long-term debt issuance
 
—

 
398,533

 
400,000

Debt issuance costs
 
—

 
(3,400
)
 
(6,255
)
Net cash provided by financing activities
 
(279,535
)
 
76,677

 
322,205

Net change in cash and cash equivalents
 
24,682

 
(28,543
)
 
(18,826
)
Cash and cash equivalents at beginning of year
 
24,137

 
52,680

 
71,506

Cash and cash equivalents at end of year
 
$
48,819

 
$
24,137

 
$
52,680

Supplementary information:
 
 
 
 
 
 
Cash paid for interest
 
$
161,499

 
$
141,615

 
$
130,047

Cash paid for income taxes, net of refunds
 
$
87

 
$
82,000

 
$
30,500