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Organization and Basis of Presentation | 9 Months Ended
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Sep. 30, 2012
Organization And Basis Of Presentation [Abstract] |
Organization and Basis of Presentation | 1. O rganization and Basis of Presentation Reinsurance Group of America, Incorporated ("RGA") is an insurance holding company that was formed on December 31, 1992. The accompanying unaudited condensed consolidated financial statements of RGA and its subsidiaries (collectively, the "Company") have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. R esults for the three and nine month s ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012. There were no subsequent events that would require disclosure or adjustments to the accompanying condensed consolidated financial statements through the date the financial statements were issued. These unaudited condensed consolidated financial statements include the accounts of RGA and its subsidiaries, a ll intercompany accounts and transactions have been eliminated. The December 31, 2011 consolid ated balance sheet data was derived from the Company's 2011 Annual Report on Form 10-K (“2011 Annual Report”) filed with the Securities and Exchange Commission (“SEC”) on February 29, 2012 and the “revised 2011” consolidated financial statements and notes thereto included in the Company's 2012 C urrent Report on Form 8-K (“DAC Current Report”) filed with the SEC on July 13, 2012. Therefore, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company included in the DAC Current Report. In October 2010, the Financial Accounting Standards Board (“FASB”) amended the general accounting principles for Financial Services – Insurance as it relates to accounting for costs associated with acquiring or renewing insurance contracts. This amendment clarified that only those costs that result directly from and are essential to the contract transaction and that would not have been incurred had the contract transaction not occurred can be capitalized. It also defined acquisitions costs as costs that are related directl y to the successful acquisition of new or renewal insurance contracts. The Company filed the DAC Current Report in response to its adoption of the amendment described above on January 1, 2012 on a retrospective basis. The DAC Current Report reflects the impact of the adoption of this amendment on the Company's previously filed financial statements and other disclosures included in the 2011 Annual Report, including that (i) only cost s related directly to the successful acquisition of new or renewal contracts can be capitalized as deferred acquisition costs and (ii) all other acquisition-related costs must be expensed as incurred. In connection therewith, the Company adjusted the presentation of certain prior-period information to conform to the new accounting principle. The Company believes retrospective adoption provides the most comparable and useful financial information for financial statement users. Likewise, the financial statements and notes thereto presented in this Quarterly Report on Form 10-Q have been adjusted to reflect the retrospective adoption of this accounting principle. The following tables present the effects of the retrospective adoption of the new accounting principle on the Company's previously reported condensed consolidated statement of i ncome and condensed consolidated statement of cash flows for the three and nine months ended September 30, 2011 (in thousands, except share amounts):
|  |  |  |  | Three months ended September 30, 2011
|  |  |  |  |  | As Reported |  |  | Adjustments |  |  | As Amended
Benefits and Expenses: |  |  |  |  |  |  |  |  |
Policy acquisition costs and other insurance expenses |  | $ | 149,228 |  | $ | 15,144 |  | $ | 164,372
Income before income taxes |  |  | 171,540 |  |  | (15,144) |  |  | 156,396
Provision for income taxes |  |  | 24,155 |  |  | (2,361) |  |  | 21,794
Net income |  | $ | 147,385 |  | $ | (12,783) |  | $ | 134,602
Earnings per share: |  |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 2.00 |  | $ | (0.18) |  | $ | 1.82
Diluted earnings per share |  | $ | 1.98 |  | $ | (0.17) |  | $ | 1.81
|  |  |  |  | Nine months ended September 30, 2011
|  |  |  |  |  | As Reported |  |  | Adjustments |  |  | As Amended
Benefits and Expenses: |  |  |  |  |  |  |  |  |
Policy acquisition costs and other insurance expenses |  | $ | 741,663 |  | $ | 43,475 |  | $ | 785,138
Income before income taxes |  |  | 613,795 |  |  | (43,475) |  |  | 570,320
Provision for income taxes |  |  | 172,706 |  |  | (9,852) |  |  | 162,854
Net income |  | $ | 441,089 |  | $ | (33,623) |  | $ | 407,466
Earnings per share: |  |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 5.99 |  | $ | (0.46) |  | $ | 5.53
Diluted earnings per share |  | $ | 5.94 |  | $ | (0.45) |  | $ | 5.49
|  |  |  |  |  | Nine months ended September 30, 2011
|  |  |  |  |  | As Reported |  |  | Adjustments |  |  | As Amended
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |
Net Income |  | $ | 441,089 |  | $ | (33,623) |  | $ | 407,466
| Change in operating assets and liabilities |  |  |  |  |  |  |  |  |
|  | Deferred policy acquisition costs |  |  | (104,267) |  |  | 43,475 |  |  | (60,792)
|  | Deferred income taxes |  |  | 68,059 |  |  | (9,852) |  |  | 58,207

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