XML 96 R35.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Derivative Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Summary of Derivative Instruments [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
|  |  |  |  | December 31, 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 | $ | 2,195,059 |  | $ | 123,085 |  | $ | 17,867 |  |  | $ | 2,748,317 |  | $ | 184,842 |  | $ | 18,702
| Financial futures |  | 127,877 |  |  | -- |  |  | -- |  |  |  | 277,814 |  |  | -- |  |  | --
| Foreign currency forwards |  | 74,400 |  |  | 1,017 |  |  | 2,105 |  |  |  | 24,400 |  |  | 4,560 |  |  | --
| Consumer price index swaps |  | 85,135 |  |  | 1,446 |  |  | -- |  |  |  | 101,069 |  |  | 766 |  |  | --
| Credit default swaps |  | 714,000 |  |  | 2,228 |  |  | 5,922 |  |  |  | 649,500 |  |  | 1,313 |  |  | 10,949
| Equity options |  | 696,776 |  |  | 62,514 |  |  | -- |  |  |  | 510,073 |  |  | 90,106 |  |  | --
| Synthetic guaranteed investment contracts |  | 2,018,073 |  |  | -- |  |  | -- |  |  |  | -- |  |  | -- |  |  | --
| Embedded derivatives in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Modified coinsurance or funds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | withheld arrangements |  | -- |  |  | -- |  |  | 243,177 |  |  |  | -- |  |  | -- |  |  | 361,456
|  | Indexed annuity products |  | -- |  |  | -- |  |  | 740,256 |  |  |  | -- |  |  | 4,945 |  |  | 751,523
|  | Variable annuity products |  | -- |  |  | -- |  |  | 172,105 |  |  |  | -- |  |  | -- |  |  | 276,718
| Total non-hedging derivatives |  | 5,911,320 |  |  | 190,290 |  |  | 1,181,432 |  |  |  | 4,311,173 |  |  | 286,532 |  |  | 1,419,348
Derivatives designated as |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swaps |  | 57,275 |  |  | 344 |  |  | 786 |  |  |  | 56,250 |  |  | 133 |  |  | 960
| Foreign currency swaps |  | 629,512 |  |  | -- |  |  | 27,398 |  |  |  | 621,578 |  |  | 286 |  |  | 23,996
| Total hedging derivatives |  | 686,787 |  |  | 344 |  |  | 28,184 |  |  |  | 677,828 |  |  | 419 |  |  | 24,956
Total derivatives | $ | 6,598,107 |  | $ | 190,634 |  | $ | 1,209,616 |  |  | $ | 4,989,001 |  | $ | 286,951 |  | $ | 1,444,304
Net Derivatives Gains Losses Recognized On Fair Value Derivatives And Related Hedged Items [Table Text Block] |
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 year ended December 31, 2011: |  |  |  |  |  |  |
Interest rate swaps |  |  | Fixed rate fixed maturities |  | $ | (785) |  | $ | 1,402 |  | $ | 617
For the year ended December 31, 2010: |  |  |  |  |  |  |
Interest rate swaps |  |  | Fixed rate fixed maturities |  | $ | (1,041) |  | $ | 1,599 |  | $ | 558
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
| 2012 |  | 2011
Accumulated other comprehensive income (loss), balance beginning of year | $ | (828) |  | $ | --
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges |  | 2,613 |  |  | (628)
Amounts reclassified to investment income |  | (1,382) |  |  | (200)
Accumulated other comprehensive income (loss), balance end of period | $ | 403 |  | $ | (828)
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 year ended December 31, 2012: |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 2,613 |  | $ | -- |  | $ | 1,382 |  | $ | (41) |  | $ | --
For the year ended December 31, 2011: |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | (628) |  | $ | -- |  | $ | 200 |  | $ | -- |  | $ | --
Derivatives Hedging Instruments In Net Investment Hedging Relationships [Table Text Block] |
|  |  | Derivative Gains (Losses) Deferred in AOCI |  |  |
|  |  | For the year ended |  |  |
Type of NIFO Hedge (1) (2) |  | 2012 |  | 2011 |  | 2010 |  |  |
Foreign currency swaps |  | $ | (20,470) |  | $ | 4,858 |  | $ | (41,302) |  |  |
(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.
DisclosureOfCreditDerivativesTextBlock |
|  |  | December 31,
|  |  | 2012 |  |  | 2011
Rating Agency Designation of Referenced Credit Obligations(1) |  | Estimated Fair Value of Credit Default Swaps |  | Maximum Amount of Future Payments under Credit Default Swaps(2) |  | Weighted Average Years to Maturity(3) |  | Estimated Fair Value of Credit Default Swaps |  | Maximum Amount of Future Payments under Credit Default Swaps(2) |  | Weighted Average Years to Maturity(3)
AAA/AA-/A+/A/A- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single name credit default swaps |  | $ | (2,077) |  | $ | 124,500 |  | 5.9 |  | $ | (1,774) |  | $ | 85,000 |  | 5.5
Credit default swaps referencing indices |  |  | -- |  |  | -- |  | -- |  |  | -- |  |  | -- |  | --
| Subtotal |  |  | (2,077) |  |  | 124,500 |  | 5.9 |  |  | (1,774) |  |  | 85,000 |  | 5.5
BBB+/BBB/BBB- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single name credit default swaps |  |  | (2,345) |  |  | 135,500 |  | 5.5 |  |  | (4,267) |  |  | 114,000 |  | 5.6
Credit default swaps referencing indices |  |  | 937 |  |  | 430,000 |  | 5.0 |  |  | (3,895) |  |  | 415,000 |  | 5.0
| Subtotal |  |  | (1,408) |  |  | 565,500 |  | 5.1 |  |  | (8,162) |  |  | 529,000 |  | 5.1
BB+ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single name credit default swaps |  |  | (222) |  |  | 6,000 |  | 4.5 |  |  | -- |  |  | -- |  | --
Credit default swaps referencing indices |  |  | -- |  |  | -- |  | -- |  |  | -- |  |  | -- |  | --
| Subtotal |  |  | (222) |  |  | 6,000 |  | 4.5 |  |  | -- |  |  | -- |  | --
Total |  | $ | (3,707) |  | $ | 696,000 |  | 5.2 |  | $ | (9,936) |  | $ | 614,000 |  | 5.2
(1) | The rating agency designations are based on ratings from Standard and Poor's ("S&P").
(2) | Assumes the value of the referenced credit obligations is zero.
(3) | The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.
Changes In Estimated Fair Value Related To Embedded Derivatives [Table Text Block] |
|  | 2012 |  | 2011 |  | 2010
Embedded derivatives in modified coinsurance or funds withheld arrangements included |  |  |  |  |  |  |  |
| in investment related gains | $ | 115,009 |  | $ | (87,236) |  | $ | 160,274
After the associated amortization of DAC and taxes, the related amounts included in net income |  | 25,454 |  |  | (7,599) |  |  | 28,831
Embedded derivatives in variable annuity contracts included in investment related gains |  | 104,613 |  |  | (224,184) |  |  | (28,786)
After the associated amortization of DAC and taxes, the related amounts included in net income |  | 6,367 |  |  | (30,230) |  |  | (5,045)
Amounts related to embedded derivatives in equity-indexed annuities included |  |  |  |  |  |  |  |
| in benefits and expenses |  | (30,434) |  |  | (114,921) |  |  | (44,988)
After the associated amortization of DAC and taxes, the related amounts included in net income |  | 6,110 |  |  | (55,915) |  |  | (26,265)
Derivative Instruments Gain Loss By Income Statement Location [Table Text Block] |
Non-hedging Derivatives |  |  |  |  |  |  |  |  |  |  |  |
A summary of the effect of non-hedging derivatives, including embedded derivatives, on the Company’s consolidated statements of income for the years ended December 31, 2012, 2011 and 2010 is as follows (dollars in thousands):
|  |  |  |  |  |  | Gain (Loss) for the Years Ended December 31,
Type of Non-hedging Derivative |  | Income Statement Location of Gain (Loss) |  | 2012 |  | 2011 |  | 2010
Interest rate swaps |  | Investment related gains (losses), net |  | $ | 16,028 |  | $ | 178,338 |  | $ | 68,736
Financial futures |  | Investment related gains (losses), net |  |  | (20,245) |  |  | (945) |  |  | (44,959)
Foreign currency forwards |  | Investment related gains (losses), net |  |  | (5,644) |  |  | 1,675 |  |  | 3,387
CPI swaps |  | Investment related gains (losses), net |  |  | (267) |  |  | 1,821 |  |  | 962
Credit default swaps |  | Investment related gains (losses), net |  |  | 18,359 |  |  | (63) |  |  | 4,786
Equity options |  | Investment related gains (losses), net |  |  | (69,677) |  |  | 7,818 |  |  | (3,006)
Embedded derivatives in: |  |  |  |  |  |  |  |  |  |  |  |
| Modified coinsurance or funds |  |  |  |  |  |  |  |  |  |  |  |
|  | withheld arrangements |  | Investment related gains (losses), net |  |  | 115,009 |  |  | (87,236) |  |  | 160,274
| Indexed annuity products |  | Policy acquisition costs and other insurance |  |  |  |  |  |  |  |  |
|  |  |  |  | expenses |  |  | (630) |  |  | (24,551) |  |  | 6,457
| Indexed annuity products |  | Interest credited |  |  | (29,804) |  |  | (90,370) |  |  | (51,445)
| Variable annuity products |  | Investment related gains (losses), net |  |  | 104,613 |  |  | (224,184) |  |  | (28,786)
Total non-hedging derivatives |  |  |  |  | $ | 127,742 |  | $ | (237,697) |  | $ | 116,406
Credit Risk [Table Text Block] |
|  |  | December 31, 2012 |  | December 31, 2011 |  |
Estimated fair value of derivatives in net asset position | $ | 136,558 |  | $ | 227,399 |  |
| Cash provided as collateral(1) |  | 27,867 |  |  | -- |  |
| Securities pledged to counterparties as collateral(2) |  | 1,565 |  |  | 27,052 |  |
| Cash pledged from counterparties as collateral(3) |  | (136,414) |  |  | (241,480) |  |
| Securities pledged from counterparties as collateral(4) |  | (22,458) |  |  | (997) |  |
Net credit exposure | $ | 7,118 |  | $ | 11,974 |  |
Margin account related to exchange-traded futures(5) | $ | 5,605 |  | $ | 18,153 |  |
(1) | Consists of receivable from counterparty, included in other assets. |  |  |  |  |
(2) | Included in other invested assets, primarily consists of U.S. Treasury securities. |  |  |  |  |
(3) | Included in cash and cash equivalents, with obligation to return cash collateral recorded in other liabilities. |  |  |  |
(4) | Consists of U.S. Treasury securities. |  |  |  |  |
(5) | 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_ChangesInEstimatedFairValueRelatedToEmbeddedDerivativesTableTextBlock
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_CreditRiskTableTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
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_DerivativeInstrumentsGainLossByIncomeStatementLocationTableTextBlock
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_DerivativesHedgingInstrumentsInNetInvestmentHedgingRelationshipsTableTextBlock
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_NetDerivativesGainsLossesRecognizedOnFairValueDerivativesAndRelatedHedgedItemsTableTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4L -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5708777-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44DD -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 Accounting Standards Codification -Glossary Credit Derivative -URI http://asc.fasb.org/extlink&oid=6854095 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5708775-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5708773-113959 + Details
Name: | us-gaap_DisclosureOfCreditDerivativesTextBlock
Namespace Prefix: | us-gaap_
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

X
- Details
Name: | us-gaap_SummaryOfDerivativeInstrumentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration