XML 28 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Derivative Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2012
Derivative Instruments [Abstract] |
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value |
|  |  |  |  | September 30, 2012 |  |  | December 31, 2011
|  |  |  |  |  | Notional |  | Carrying Value/Fair Value |  |  |  | Notional |  | Carrying Value/Fair Value
|  |  |  |  |  | Amount |  |  | Assets |  |  | Liabilities |  |  |  | Amount |  |  | Assets |  |  | Liabilities
Derivatives not designated as |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swaps(1) | $ | 2,236,718 |  | $ | 306,774 |  | $ | 174,741 |  |  | $ | 2,748,317 |  | $ | 184,842 |  | $ | 18,702
| Financial futures(1) |  | 204,424 |  |  | -- |  |  | -- |  |  |  | 277,814 |  |  | -- |  |  | --
| Foreign currency forwards(1) |  | 44,400 |  |  | 4,052 |  |  | 36 |  |  |  | 24,400 |  |  | 4,560 |  |  | --
| Consumer price index swaps(1) |  | 102,742 |  |  | 817 |  |  | -- |  |  |  | 101,069 |  |  | 766 |  |  | --
| Credit default swaps(1) |  | 640,500 |  |  | 1,308 |  |  | 3,770 |  |  |  | 649,500 |  |  | 1,313 |  |  | 10,949
| Equity options(1) |  | 696,776 |  |  | 73,659 |  |  | -- |  |  |  | 510,073 |  |  | 90,106 |  |  | --
| Synthetic guaranteed investment contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | ("GICs")(1) |  | 1,913,202 |  |  | -- |  |  | -- |  |  |  | -- |  |  | -- |  |  | --
| Embedded derivatives in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Modified coinsurance or funds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | withheld arrangements(2) |  | -- |  |  | -- |  |  | 320,501 |  |  |  | -- |  |  | -- |  |  | 361,456
|  | Indexed annuity products(3) |  | -- |  |  | 4,192 |  |  | 751,112 |  |  |  | -- |  |  | 4,945 |  |  | 751,523
|  | Variable annuity products(3) |  | -- |  |  | -- |  |  | 202,693 |  |  |  | -- |  |  | -- |  |  | 276,718
| Total non-hedging derivatives |  | 5,838,762 |  |  | 390,802 |  |  | 1,452,853 |  |  |  | 4,311,173 |  |  | 286,532 |  |  | 1,419,348
Derivatives designated as |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swaps(1) |  | 57,181 |  |  | 3,901 |  |  | -- |  |  |  | 56,250 |  |  | 133 |  |  | 960
| Foreign currency swaps(1) |  | 629,512 |  |  | -- |  |  | 32,757 |  |  |  | 621,578 |  |  | 286 |  |  | 23,996
| Total hedging derivatives |  | 686,693 |  |  | 3,901 |  |  | 32,757 |  |  |  | 677,828 |  |  | 419 |  |  | 24,956
Total derivatives | $ | 6,525,455 |  | $ | 394,703 |  | $ | 1,485,610 |  |  | $ | 4,989,001 |  | $ | 286,951 |  | $ | 1,444,304
(1) | Carried on the Company’s condensed consolidated balance sheets in other invested assets or other liabilities, at fair value.
(2) | Embedded liability is included on the condensed consolidated balance sheets with the host contract in funds withheld at interest, at fair value.
(3) | Embedded liability is included on the condensed consolidated balance sheets with the host contract in interest-sensitive contract liabilities, at fair value. Embedded asset is included on the condensed consolidated balance sheets in reinsurance ceded receivables.
Net Derivatives Gains Losses Recognized On Fair Value Derivatives And Related Hedged Items |
Type of Fair Value Hedge |  |  | Hedged Item |  |  | Gains (Losses) Recognized for Derivatives |  |  | Gains (Losses) Recognized for Hedged Items |  |  | Ineffectiveness Recognized in Investment Related Gains (Losses)
For the three months ended September 30, 2011: |  |  |  |  |  |  |
Interest rate swaps |  |  | Fixed rate fixed maturities |  | $ | (655) |  | $ | 913 |  | $ | 258
For the nine months ended September 30, 2011: |  |  |  |  |  |  |
Interest rate swaps |  |  | Fixed rate fixed maturities |  | $ | (921) |  | $ | 1,509 |  | $ | 588
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
| Three months ended |  | Nine months ended
| September 30, 2012 |  | September 30, 2012
Accumulated other comprehensive income (loss), balance beginning of period | $ | (719) |  | $ | (828)
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges |  | (2,831) |  |  | (2,044)
Amounts reclassified to investment related gains (losses), net |  | -- |  |  | --
Amounts reclassified to investment income |  | (351) |  |  | (1,029)
Accumulated other comprehensive income (loss), balance end of period | $ | (3,901) |  | $ | (3,901)
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
Derivatives in Cash Flow Hedging Relationships |  | Amount of Gains (Losses) Deferred in AOCI on Derivatives |  | Amount and Location of Gains (Losses) Reclassified from AOCI into Income (Loss) |  | Amount and Location of Gains (Losses) Recognized in Income (Loss) on Derivatives
|  | (Effective Portion) |  | (Effective Portion) |  | (Ineffective Portion and Amounts Excluded from Effectiveness Testing)
|  |  |  |  | Investment Related Gains (Losses) |  | Investment Income |  | Investment Related Gains (Losses) |  | Investment Income
For the three months ended September 30, 2012: |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | (2,831) |  | $ | -- |  | $ | 351 |  | $ | (3) |  | $ | --
For the nine months ended September 30, 2012: |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | (2,044) |  | $ | -- |  | $ | 1,029 |  | $ | -- |  | $ | --
Derivatives Hedging Instruments In Net Investment Hedging Relationships |
|  |  | Derivative Gains (Losses) Deferred in AOCI
|  |  | For the three months ended |  | For the nine months ended
Type of NIFO Hedge (1) (2) |  | 2012 |  | 2011 |  | 2012 |  |  | 2011
Foreign currency swaps |  | $ | (19,454) |  | $ | 50,974 |  | $ | (23,457) |  | $ | 25,954
(1) | There were no sales or substantial liquidations of net investments in foreign operations that would have required the reclassification of gains or losses from accumulated other comprehensive income (loss) into investment income during the periods presented.
(2) | There was no ineffectiveness recognized for the Company's hedges of net investments in foreign operations.
Changes In Estimated Fair Value Related To Embedded Derivatives |
|  | Three months ended |  | Nine months ended
|  | September 30, |  | September 30,
|  | 2012 |  | 2011 |  | 2012 |  | 2011
Embedded derivatives in modco or funds withheld arrangements included |  |  |  |  |  |  |  |  |  |  |
| in investment related gains | $ | 54,836 |  | $ | (102,574) |  | $ | 40,955 |  | $ | (1,514)
After the associated amortization of DAC and taxes, the related amounts included in net income |  | 11,228 |  |  | (22,403) |  |  | 10,563 |  |  | 568
Embedded derivatives in variable annuity contracts included in investment related gains |  | 2,579 |  |  | (260,239) |  |  | 74,025 |  |  | (253,445)
After the associated amortization of DAC and taxes, the related amounts included in net income |  | 1,588 |  |  | (25,263) |  |  | 494 |  |  | (23,876)
Amounts related to embedded derivatives in equity-indexed annuities included |  |  |  |  |  |  |  |  |  |  |
| in benefits and expenses |  | (33,821) |  |  | 14,360 |  |  | (26,422) |  |  | (58,987)
After the associated amortization of DAC and taxes, the related amounts included in net income |  | (22,529) |  |  | 23,002 |  |  | 6,465 |  |  | (26,840)
Derivative Instruments Gain Loss By Income Statement Location |
Non-hedging Derivatives |  |  |  |  |  |  |  |  |
A summary of the effect of non-hedging derivatives, including embedded derivatives, on the Company’s income statement for the three and nine months ended September 30, 2012 and 2011 is as follows (dollars in thousands):
|  |  |  |  |  |  | Gain (Loss) for the Three Months Ended
|  |  |  |  |  |  | September 30,
Type of Non-hedging Derivative |  | Income Statement Location of Gain (Loss) |  | 2012 |  | 2011
Interest rate swaps |  | Investment related gains (losses), net |  | $ | (1,437) |  | $ | 142,907
Financial futures |  | Investment related gains (losses), net |  |  | (3,977) |  |  | 36,217
Foreign currency forwards |  | Investment related gains (losses), net |  |  | 519 |  |  | 1,374
CPI swaps |  | Investment related gains (losses), net |  |  | 422 |  |  | (219)
Credit default swaps |  | Investment related gains (losses), net |  |  | 7,817 |  |  | (10,018)
Equity options |  | Investment related gains (losses), net |  |  | (23,916) |  |  | 30,530
Embedded derivatives in: |  |  |  |  |  |  |  |  |
| Modified coinsurance or funds withheld |  |  |  |  |  |  |  |
|  | arrangements |  | Investment related gains (losses), net |  |  | 54,836 |  |  | (102,574)
| Indexed annuity products |  | Policy acquisition costs and other insurance |  |  |  |  |  |
|  |  |  |  | expenses |  |  | (224) |  |  | (3,172)
| Indexed annuity products |  | Interest credited |  |  | (33,597) |  |  | 17,531
| Variable annuity products |  | Investment related gains (losses), net |  |  | 2,579 |  |  | (260,239)
Total non-hedging derivatives |  |  |  |  | $ | 3,022 |  | $ | (147,663)
|  |  |  |  |  |  | Gain (Loss) for the Nine Months Ended
|  |  |  |  |  |  | September 30,
Type of Non-hedging Derivative |  | Income Statement Location of Gain (Loss) |  | 2012 |  | 2011
Interest rate swaps |  | Investment related gains (losses), net |  | $ | 24,553 |  | $ | 157,520
Financial futures |  | Investment related gains (losses), net |  |  | (10,312) |  |  | 21,920
Foreign currency forwards |  | Investment related gains (losses), net |  |  | (574) |  |  | 1,114
CPI swaps |  | Investment related gains (losses), net |  |  | (1,811) |  |  | 1,096
Credit default swaps |  | Investment related gains (losses), net |  |  | 14,835 |  |  | (8,138)
Equity options |  | Investment related gains (losses), net |  |  | (58,532) |  |  | 29,880
Embedded derivatives in: |  |  |  |  |  |  |  |  |
| Modified coinsurance or funds withheld |  |  |  |  |  |  |  |
|  | arrangements |  | Investment related gains (losses), net |  |  | 40,955 |  |  | (1,514)
| Indexed annuity products |  | Policy acquisition costs and other insurance |  |  |  |  |  |
|  |  |  |  | expenses |  |  | (363) |  |  | 8,947
| Indexed annuity products |  | Interest credited |  |  | (26,059) |  |  | (67,935)
| Variable annuity products |  | Investment related gains (losses), net |  |  | 74,025 |  |  | (253,445)
Total non-hedging derivatives |  |  |  |  | $ | 56,717 |  | $ | (110,555)
Credit Risk |
|  |  | September 30, 2012 |  | December 31, 2011 |  |
Estimated fair value of derivatives in net asset position | $ | 179,206 |  | $ | 227,399 |  |
| Securities pledged to counterparties as collateral(1) |  | 35,093 |  |  | 27,052 |  |
| Cash pledged from counterparties as collateral(2) |  | (178,584) |  |  | (241,480) |  |
| Securities pledged from counterparties as collateral(3) |  | (25,049) |  |  | (997) |  |
Net credit exposure | $ | 10,666 |  | $ | 11,974 |  |
Margin account related to exchange-traded futures(4) | $ | 5,376 |  | $ | 18,153 |  |
(1) | Consists of U.S. Treasury securities, included in other invested assets. |  |  |  |  |
(2) | Included in cash and cash equivalents, with obligation to return cash collateral recorded in other liabilities. |  |
(3) | Consists of U.S. Treasury securities. |  |  |  |  |
(4) | Included in cash and cash equivalents. |  |  |  |  |

X
- Definition The table presents the amount and location of the changes in estimated fair value of embedded derivatives. + References No definition available. + Details
Name: | rga_ChangesInEstimatedFairValueRelatedToEmbeddedDerivativesTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition This table presents the entity's net position for over-the-counter derivatives after considering the effect of netting agreements and presents the collateral that the entity holds or has posted in relation to over-the-counter derivatives at the reporting date. + References No definition available. + Details
Name: | rga_CreditRiskTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | rga_DerivativeInstrumentsAbstract
Namespace Prefix: | rga_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The location and amount of gains and losses reported in the statements of income on derivative instruments not designated or qualifying as hedging instruments, including embedded derivatives, by income statement location. + References No definition available. + Details
Name: | rga_DerivativeInstrumentsGainLossByIncomeStatementLocationTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The table presents the effects of derivatives in net investment hedging relationships on the consolidated statements of income and the consolidated statements of stockholders' equity. + References No definition available. + Details
Name: | rga_DerivativesHedgingInstrumentsInNetInvestmentHedgingRelationshipsTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The table presents the net derivatives gains (losses) recognized on derivatives in fair value hedges and the related hedged items. + References No definition available. + Details
Name: | rga_NetDerivativesGainsLossesRecognizedOnFairValueDerivativesAndRelatedHedgedItemsTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 815 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (c) -Name Accounting Standards Codification -Paragraph 4C -Section 50 -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 815 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (b) -Name Accounting Standards Codification -Paragraph 4C -Section 50 -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624163-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration