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Condensed Financial Information of The Registrant (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Statements [Table Text Block] |
|  | 2020 |  | 2019 |  | 2018
CONDENSED BALANCE SHEETS |  |  |  |  |  |
Assets: |  |  |  |  |  |
Fixed maturity securities available-for-sale, at fair value |  | $ | 642 |  |  | $ | 525 |  |  |
Short-term and other investments |  | 172 |  |  | 19 |  |  |
Cash and cash equivalents |  | 494 |  |  | 10 |  |  |
Investment in subsidiaries |  | 16,937 |  |  | 14,486 |  |  |
Loans to subsidiaries |  | 1,010 |  |  | 1,010 |  |  |
Other assets |  | 326 |  |  | 270 |  |  |
Total assets |  | $ | 19,581 |  |  | $ | 16,320 |  |  |
Liabilities and stockholders’ equity: |  |  |  |  |  |
Long-term debt – unaffiliated(1) |  | $ | 3,569 |  |  | $ | 2,974 |  |  |
Long-term debt – affiliated(2) |  | 500 |  |  | 500 |  |  |
Other liabilities |  | 1,160 |  |  | 1,244 |  |  |
Stockholders’ equity |  | 14,352 |  |  | 11,602 |  |  |
Total liabilities and stockholders’ equity |  | $ | 19,581 |  |  | $ | 16,320 |  |  |
CONDENSED STATEMENTS OF INCOME |  |  |  |  |  |
Interest / dividend income(3) |  | $ | 472 |  |  | $ | 308 |  |  | $ | 576 |
Investment related gains (losses), net |  | 14 |  |  | 4 |  |  | (5) |
Operating expenses |  | (59) |  |  | (55) |  |  | (36) |
Interest expense |  | (202) |  |  | (206) |  |  | (181) |
Income (loss) before income tax and undistributed earnings of subsidiaries |  | 225 |  |  | 51 |  |  | 354 |
Income tax expense (benefit) |  | (21) |  |  | (33) |  |  | (37) |
Net income (loss) before undistributed earnings of subsidiaries |  | 246 |  |  | 84 |  |  | 391 |
Equity in undistributed earnings of subsidiaries |  | 169 |  |  | 786 |  |  | 325 |
Net income |  | 415 |  |  | 870 |  |  | 716 |
Other comprehensive income (loss) |  | (29) |  |  | (33) |  |  | 21 |
Total comprehensive income |  | $ | 386 |  |  | $ | 837 |  |  | $ | 737 |
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:
|  | 2020 |  | 2019
$400 million 5.00% Senior Notes due 2021 |  | $ | 400 |  |  | $ | 400 |
$400 million 4.70% Senior Notes due 2023 |  | 399 |  |  | 399 |
$400 million 3.95% Senior Notes due 2026 |  | 400 |  |  | 400 |
$600 million 3.90% Senior Notes due 2029 |  | 599 |  |  | 599 |
$600 million 3.15% Senior Notes due 2030 |  | 598 |  |  | — |
$400 million 6.20% Subordinated Debentures due 2042 |  | 400 |  |  | 400 |
$400 million 5.75% Subordinated Debentures due 2056 |  | 400 |  |  | 400 |
$400 million Variable Rate Junior Subordinated Debentures due 2065 |  | 398 |  |  | 398 |
Subtotal |  | 3,594 |  |  | 2,996 |
Unamortized debt issuance costs |  | (25) |  |  | (22) |
Total |  | $ | 3,569 |  |  | $ | 2,974 |
(2)Long-term debt – affiliated in 2020 and 2019 consists of $500 million of subordinated debt issued to various operating subsidiaries. (3)Interest/dividend income includes $340 million and $175 million of cash dividends received from consolidated subsidiaries in 2020 and 2019, respectively. REINSURANCE GROUP OF AMERICA, INCORPORATED SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT (continued) December 31, (in millions)
|  | 2020 |  | 2019 |  | 2018
CONDENSED STATEMENTS OF CASH FLOWS |  |  |  |  |  |
Operating activities: |  |
Net income |  | $ | 415 |  |  | $ | 870 |  |  | $ | 716 |
Equity in earnings of subsidiaries |  | (169) |  |  | (786) |  |  | (325) |
Other, net |  | (170) |  |  | 72 |  |  | 37 |
Net cash provided by operating activities |  | 76 |  |  | 156 |  |  | 428 |
Investing activities: |  |  |  |  |  |
Sales of fixed maturity securities available-for-sale |  | 358 |  |  | 576 |  |  | 482 |
Purchases of fixed maturity securities available-for-sale |  | (400) |  |  | (494) |  |  | (383) |
Change in short-term investments |  | (165) |  |  | — |  |  | — |
Change in other invested assets |  | (26) |  |  | — |  |  | — |
Capital contributions to subsidiaries |  | (78) |  |  | (96) |  |  | (82) |
Net cash (used in) provided by investing activities |  | (311) |  |  | (14) |  |  | 17 |
Financing activities: |  |  |  |  |  |
Dividends to stockholders |  | (182) |  |  | (163) |  |  | (140) |
Proceeds from issuance of common stock, net |  | 481 |  |  | — |  |  | — |
Purchases of treasury stock |  | (163) |  |  | (101) |  |  | (300) |
Exercise of stock options, net |  | 1 |  |  | 6 |  |  | 3 |
Change in cash collateral for derivative positions and other arrangements |  | (11) |  |  | (92) |  |  | (2) |
Principal payments on debt |  | — |  |  | (397) |  |  | — |
Proceeds from unaffiliated long-term debt issuance |  | 598 |  |  | 599 |  |  | — |
Debt issuance costs |  | (5) |  |  | (5) |  |  | — |
Net cash provided by (used in) financing activities |  | 719 |  |  | (153) |  |  | (439) |
Change in cash and cash equivalents |  | 484 |  |  | (11) |  |  | 6 |
Cash and cash equivalents, beginning of period |  | 10 |  |  | 21 |  |  | 15 |
Cash and cash equivalents, end of period |  | $ | 494 |  |  | $ | 10 |  |  | $ | 21 |
Supplementary information: |  |  |  |  |  |
Interest paid |  | $ | 187 |  |  | $ | 192 |  |  | $ | 176 |
Income taxes paid, net of refunds |  | $ | 23 |  |  | $ | 9 |  |  | $ | 93 |

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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