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Condensed Financial Information of The Registrant (Tables)
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Statements [Table Text Block]
 
 
2018
 
2017
 
2016
CONDENSED BALANCE SHEETS
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Fixed maturity securities available-for-sale, at fair value
 
$
595,303

 
$
710,303

 
 
Short-term and other investments
 
42,906

 
54,517

 
 
Cash and cash equivalents
 
20,641

 
15,176

 
 
Investment in subsidiaries
 
11,033,195

 
12,043,911

 
 
Loans to subsidiaries
 
1,010,000

 
1,010,000

 
 
Other assets
 
239,643

 
234,707

 
 
Total assets
 
$
12,941,688

 
$
14,068,614

 
 
Liabilities and stockholders’ equity:
 
 
 
 
 
 
Long-term debt - unaffiliated(1)
 
$
2,777,756

 
$
2,775,579

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

 
500,000

 
 
Other liabilities
 
1,213,379

 
1,223,500

 
 
Stockholders’ equity
 
8,450,553

 
9,569,535

 
 
Total liabilities and stockholders’ equity
 
$
12,941,688

 
$
14,068,614

 
 
CONDENSED STATEMENTS OF INCOME
 
 
 
 
 
 
Interest / dividend income(3)
 
$
575,833

 
$
131,067

 
$
602,830

Investment related gains (losses), net
 
(5,392
)
 
(5,187
)
 
203

Operating expenses
 
(35,912
)
 
(20,517
)
 
(20,742
)
Interest expense
 
(181,364
)
 
(177,417
)
 
(168,924
)
Income (loss) before income tax and undistributed earnings of subsidiaries
 
353,165

 
(72,054
)
 
413,367

Income tax expense (benefit)
 
(37,294
)
 
65,882

 
(23,911
)
Net income (loss) before undistributed earnings of subsidiaries
 
390,459

 
(137,936
)
 
437,278

Equity in undistributed earnings of subsidiaries
 
325,383

 
1,960,117

 
264,165

Net income
 
715,842

 
1,822,181

 
701,443

Other comprehensive income (loss)
 
21,455

 
(7,672
)
 
5,531

Total comprehensive income
 
$
737,297

 
$
1,814,509

 
$
706,974


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:
 
 
2018
 
2017
$400 million 6.45% Senior Notes due 2019
 
$
399,941

 
$
399,873

$400 million 5.00% Senior Notes due 2021
 
399,466

 
399,245

$400 million 4.70% Senior Notes due 2023
 
399,289

 
399,138

$400 million 3.95% Senior Notes due 2026
 
399,987

 
399,987

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

 
400,000

$400 million 5.75% Subordinated Debentures due 2056
 
400,000

 
400,000

$400 million Variable Rate Junior Subordinated Debentures due 2065
 
398,674

 
398,670

Subtotal
 
2,797,357

 
2,796,913

Unamortized debt issue costs
 
(19,601
)
 
(21,334
)
Total
 
$
2,777,756

 
$
2,775,579

Repayments of long-term debt—unaffiliated due over the next five years total $400,000 in 2019, $400,000 in 2021 and $400,000 in 2023.
(2)
Long-term debt—affiliated in 2018 and 2017 and consists of $500,000 of subordinated debt issued to various operating subsidiaries.
(3)
Interest/dividend income includes $450,000 and $478,602 of cash dividends received from consolidated subsidiaries in 2018 and 2016, respectively. In 2017 there were no cash dividends received from consolidated subsidiaries.
REINSURANCE GROUP OF AMERICA, INCORPORATED
SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT (continued)
December 31,
(in thousands)
 
 
 
2018
 
2017
 
2016
CONDENSED STATEMENTS OF CASH FLOWS
 
 
 
 
 
 
Operating activities:
 
 
Net income
 
$
715,842

 
$
1,822,181

 
$
701,443

Equity in earnings of subsidiaries
 
(325,383
)
 
(1,960,117
)
 
(264,165
)
Other, net
 
36,754

 
57,677

 
(63,795
)
Net cash (used in) provided by operating activities
 
427,213

 
(80,259
)
 
373,483

Investing activities:
 
 
 
 
 
 
Sales of fixed maturity securities available-for-sale
 
482,324

 
514,508

 
228,383

Purchases of fixed maturity securities available-for-sale
 
(383,392
)
 
(75,000
)
 
(984,397
)
Repayments/issuances of loans to subsidiaries
 
—

 
40,000

 
20,000

Change in short-term investments
 
—

 
—

 
102,508

Change in other invested assets
 
44

 
125,506

 
(109,914
)
Capital contributions to subsidiaries
 
(82,150
)
 
(62,500
)
 
(314,142
)
Net cash (used in) provided by investing activities
 
16,826

 
542,514

 
(1,057,562
)
Financing activities:
 
 
 
 
 
 
Dividends to stockholders
 
(140,110
)
 
(117,291
)
 
(100,371
)
Purchases of treasury stock
 
(299,679
)
 
(43,508
)
 
(122,916
)
Exercise of stock options, net
 
3,459

 
7,292

 
15,321

Net change in cash collateral for loaned securities
 
(2,244
)
 
(37,290
)
 
105,093

Principal payments on debt
 
—

 
(300,000
)
 
—

Proceeds from unaffiliated long-term debt issuance
 
—

 
—

 
799,984

Debt issuance costs
 
—

 
—

 
(8,766
)
Net cash (used in) provided by financing activities
 
(438,574
)
 
(490,797
)
 
688,345

Net change in cash and cash equivalents
 
5,465

 
(28,542
)
 
4,266

Cash and cash equivalents at beginning of year
 
15,176

 
43,718

 
39,452

Cash and cash equivalents at end of year
 
$
20,641

 
$
15,176

 
$
43,718

Supplementary information:
 
 
 
 
 
 
Cash paid for interest
 
$
176,236

 
$
185,554

 
$
169,860

Cash paid for income taxes, net of refunds
 
$
93,000

 
$
8,248

 
$
1,500