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Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE V—VALUATION AND QUALIFYING ACCOUNTS

(in millions)



			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts			Deductions		Balance at End of Period
2019
Valuation allowance for deferred income taxes	$	181	$	56		$	(1	)	$	—	$	236
Valuation allowance for mortgage loans	11		1			—			—		12
2018
Valuation allowance for deferred income taxes	$	227	$	(34	)	$	(12	)	$	—	$	181
Valuation allowance for mortgage loans	9		2			—			—		11
2017
Valuation allowance for deferred income taxes	$	133	$	89		$	11		$	6	$	227
Valuation allowance for mortgage loans	8		1			—			—		9

Document and Entity Address - USD ($) $ in Billions	12 Months Ended
Document and Entity Address - USD ($) $ in Billions	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Entity Addresses [Line Items]
Entity Address, Address Line One	16600 Swingley Ridge Road
Entity Address, City or Town	Chesterfield
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63017
City Area Code	636
Local Phone Number	736-7000
Entity Public Float			$ 9.8
Entity Common Stock, Shares Outstanding		62,583,958

CONSOLIDATED BALANCE SHEETS PARENTHETICAL - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Available for Sale at Fair value - Amortized cost	$ 46,753	$ 38,882
Preferred stock par value	$ 0.01	$ 0.01
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	140,000,000	140,000,000
Common Stock, Shares, Issued	79,137,758	79,137,758
Common stock shares outstanding	62,656,102	62,814,368
Treasury Shares Held	16,481,656	16,323,390
Allowances for Loan and Lease Losses, Real Estate	$ 12	$ 11

Equity (Tables)

12 Months Ended

Dec. 31, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Stock by Class [Table Text Block]

The changes in number of common stock shares, issued, held in treasury and outstanding are as follows for the periods indicated:



	Issued	Held In Treasury		Outstanding
Balance, December 31, 2016	79,137,758	14,835,256		64,302,502
Common Stock acquired	—	208,680		(208,680	)
Stock-based compensation ⁽¹⁾	—	(358,273	)	358,273
Balance, December 31, 2017	79,137,758	14,685,663		64,452,095
Common Stock acquired	—	1,932,055		(1,932,055	)
Stock-based compensation ⁽¹⁾	—	(294,328	)	294,328
Balance, December 31, 2018	79,137,758	16,323,390		62,814,368
Common Stock acquired	—	546,614		(546,614	)
Stock-based compensation ⁽¹⁾	—	(388,348	)	388,348
Balance, December 31, 2019	79,137,758	16,481,656		62,656,102

(1)

Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.

Class of Treasury Stock [Table Text Block]

The following table summarizes the Company’s current share repurchase program activity for the year ended 2019 (dollar amounts in millions, except for the number of shares and per share amounts):



Year of Repurchase	Shares Repurchased	Amount Paid		Average Per Share
2019	546,614	$	80	$	146.00

Schedule of Comprehensive Income (Loss) [Table Text Block]

Accumulated other comprehensive income (loss)

The following table presents the components of the Company’s other comprehensive income (loss) for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):

For the year ended December 31, 2019:



	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	113		$	(10	)	$	103
Foreign currency swap	(33		)	7			(26		)
Net foreign currency translation adjustments	80			(3		)	77
Unrealized gains on investments:⁽¹⁾
Unrealized net holding gains arising during the year	3,208			(698		)	2,510
Less: Reclassification adjustment for net gains realized in net income	84			(17		)	67
Net unrealized gains	3,124			(681		)	2,443
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1		)	—			(1		)
Net gain (loss) arising during the period	(23		)	5			(18		)
Unrealized pension and postretirement benefits, net	(24		)	5			(19		)
Other comprehensive income (loss)	$	3,180		$	(679	)	$	2,501

For the year ended December 31, 2018:



	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	(148	)	$	(1	)	$	(149	)
Foreign currency swap	87			(18		)	69
Net foreign currency translation adjustments	(61		)	(19		)	(80		)
Unrealized gains on investments:⁽¹⁾
Unrealized net holding gains arising during the year	(1,834		)	394			(1,440		)
Less: Reclassification adjustment for net gains realized in net income	(122		)	26			(96		)
Net unrealized gains	(1,712		)	368			(1,344		)
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1		)	—			(1		)
Net gain arising during the period	1			—			1
Unrealized pension and postretirement benefits, net	—			—			—
Other comprehensive income (loss)	$	(1,773	)	$	349		$	(1,424	)

For the year ended December 31, 2017:



	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	75		$	25		$	100
Foreign currency swap	(48		)	17			(31		)
Net foreign currency translation adjustments	27			42			69
Unrealized gains on investments:⁽¹⁾
Unrealized net holding gains arising during the year	1,030			(314		)	716
Less: Reclassification adjustment for net gains realized in net income	25			(7		)	18
Net unrealized gains	1,005			(307		)	698
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	12			(4		)	8
Net gain arising during the period	(11		)	4			(7		)
Unrealized pension and postretirement benefits, net	1			—			1
Other comprehensive income (loss)	$	1,033		$	(265	)	$	768

(1)

Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Components Of Accumulated Other Comprehensive Income [Table Text Block]

A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in millions):



For the years ended December 31,	2019			2018			2017
Change in net unrealized appreciation (depreciation) on:
Fixed maturity securities available-for-sale	$	3,258		$	(1,759	)	$	988
Other investments⁽¹⁾	(37		)	20			25
Effect on unrealized appreciation on:
Deferred policy acquisition costs	(98		)	27			(8		)
Net unrealized appreciation (depreciation)	$	3,123		$	(1,712	)	$	1,005

(1)

Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The balance of and changes in each component of AOCI were as follows (dollars in millions):



	Accumulated Currency Translation Adjustments			Unrealized Appreciation (Depreciation) of Investments ⁽¹⁾			Pension and Postretirement Benefits			Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2016	$	(172	)	$	1,355		$	(44	)	$	1,139
OCI before reclassifications	27			1,039			(4		)	1,062
Amounts reclassified from AOCI	—			(34		)	5			(29		)
Deferred income tax benefit (expense)	42			(307		)	—			(265		)
Adoption of new accounting standard	17			148			(8		)	157
Balance, December 31, 2017	(86		)	2,201			(51		)	2,064
OCI before reclassifications	(60		)	(1,861		)	(5		)	(1,926		)
Amounts reclassified from AOCI	—			148			5			153
Deferred income tax benefit (expense)	(19		)	368			—			349
Adoption of new accounting standard	(4		)	—			—			(4		)
Balance, December 31, 2018	(169		)	856			(51		)	636
OCI before reclassifications	80			3,306			(28		)	3,358
Amounts reclassified from AOCI	—			(182		)	4			(178		)
Deferred income tax benefit (expense)	(3		)	(681		)	5			(679		)
Balance, December 31, 2019	$	(92	)	$	3,299		$	(70	)	$	3,137

(1)

Includes cash flow hedges of $(26), $9 and $3 as of December 31, 2019, 2018 and 2017, respectively. See Note 5 for additional information on cash flow hedges.

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The following table presents the amounts of AOCI reclassifications for the years ended December 31, 2019 and 2018 (dollars in millions):



	Amount Reclassified from AOCI
Details about AOCI Components	2019			2018			Affected Line Item in Statement of Income
Net unrealized investment gains (losses):
Net unrealized gains and losses on available-for-sale securities	$	84		$	(122	)	Investment related gains (losses), net
Cash flow hedges - Interest rate	1			—			(1)
Cash flow hedges - Currency/Interest rate	—			—			(1)
Cash flow hedges - Forward bond purchase commitments	—			—			(1)
Deferred policy acquisition costs attributed to unrealized gains and losses	97			(27		)	(2)
Total	182			(149		)
Provision for income taxes	(38		)	31
Net unrealized gains (losses), net of tax	$	144		$	(118	)

Amortization of defined benefit plan items:
Prior service cost (credit)	$	1		$	1		(3)
Actuarial gains/(losses)	(5		)	(6		)	(3)
Total	(4		)	(5		)
Provision for income taxes	1			1
Amortization of defined benefit plans, net of tax	$	(3	)	$	(4	)

Total reclassifications for the period	$	141		$	(122	)


(1)	See Note 5 for information on cash flow hedges.


(2)	See Note 8 for information on deferred policy acquisition costs.

(3)

See Note 10 for information on employee benefit plans.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Condensed Financial Information of The Registrant (Details) - USD ($)

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Jun. 30, 2006

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 3,003,000,000

$ 2,807,000,000

Debt Issuance Cost

(22,000,000)

(19,000,000)

Long-term debt

2,981,000,000

2,788,000,000

Assets

Fixed maturity securities available-for-sale

51,121,000,000

39,992,000,000

Short-term investments

64,000,000

143,000,000

Cash and cash equivalents

$ 1,449,000,000

$ 1,890,000,000

$ 1,304,000,000

$ 1,449,000,000

$ 1,890,000,000

$ 1,304,000,000

1,449,000,000

1,890,000,000

$ 1,304,000,000

$ 1,201,000,000

Other assets

878,000,000

839,000,000

Total assets

76,731,000,000

64,535,000,000

Liabilities and Stockholders’ Equity

Other liabilities

1,188,000,000

1,396,000,000

Total stockholders equity

11,601,000,000

8,450,000,000

9,570,000,000

7,093,000,000

Total liabilities and stockholders’ equity

76,731,000,000

64,535,000,000

CONSOLIDATED STATEMENTS OF INCOME

Total investment related gains (losses), net

91,000,000

(170,000,000)

168,000,000

Income Tax Expense (Benefit)

262,000,000

130,000,000

(679,000,000)

Net Income (Loss) Attributable to Parent

235,000,000

$ 263,000,000

$ 202,000,000

170,000,000

110,000,000

$ 301,000,000

$ 205,000,000

100,000,000

870,000,000

716,000,000

1,822,000,000

Other Comprehensive Income (Loss), Net of Tax

2,501,000,000

(1,424,000,000)

768,000,000

Total comprehensive income (loss)

3,371,000,000

(708,000,000)

2,590,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 850,000,000

Cash flows from operating activities

Net Income (Loss) Attributable to Parent

235,000,000

$ 263,000,000

$ 202,000,000

170,000,000

110,000,000

$ 301,000,000

$ 205,000,000

100,000,000

870,000,000

716,000,000

1,822,000,000

Other, net

(57,000,000)

(2,000,000)

24,000,000

Net cash provided by operating activities

2,307,000,000

1,581,000,000

1,982,000,000

Cash flows from investing activities

Sales of fixed maturity securities available-for-sale

13,214,000,000

9,340,000,000

7,309,000,000

Payments to Acquire Businesses, Net of Cash Acquired

4,000,000

(32,000,000)

Payments for (Proceeds from) Short-term Investments

199,000,000

129,000,000

52,000,000

Payments for (Proceeds from) Other Investing Activities

(304,000,000)

(365,000,000)

(122,000,000)

Net cash used in investing activities

(2,638,000,000)

(637,000,000)

(1,608,000,000)

Cash flows from financing activities

Dividends to stockholders

(163,000,000)

(140,000,000)

(117,000,000)

Purchases of treasury stock

(101,000,000)

(300,000,000)

(44,000,000)

Exercise of stock options, net

6,000,000

3,000,000

7,000,000

Maturities of Senior Debt

403,000,000

3,000,000

303,000,000

Proceeds from affiliated long-term debt issuance

(599,000,000)

Payments Of Debt Issuance Costs

(5,000,000)

Net cash used in financing activities

(121,000,000)

(322,000,000)

(324,000,000)

Change in cash and cash equivalents

(441,000,000)

586,000,000

103,000,000

Cash and cash equivalents, beginning of period

1,890,000,000

1,304,000,000

1,890,000,000

1,304,000,000

1,201,000,000

Cash and cash equivalents, end of period

1,449,000,000

1,890,000,000

1,449,000,000

1,890,000,000

1,304,000,000

Supplementary information:

Income taxes paid, net of refunds

44,000,000

142,000,000

37,000,000

Cash Acquired from Acquisition

27,000,000

5,000,000

Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

2,996,000,000

2,797,000,000

Debt Issuance Cost

(22,000,000)

(19,000,000)

Long-term debt

^[1]

2,974,000,000

2,778,000,000

Assets

Fixed maturity securities available-for-sale

525,000,000

595,000,000

Short-term investments

19,000,000

43,000,000

Cash and cash equivalents

10,000,000

21,000,000

15,000,000

10,000,000

21,000,000

15,000,000

10,000,000

21,000,000

$ 15,000,000

$ 44,000,000

Investments In Subsidiary

14,486,000,000

11,033,000,000

Loans and Leases Receivable, Related Parties

1,010,000,000

Other assets

270,000,000

240,000,000

Total assets

16,320,000,000

12,942,000,000

Liabilities and Stockholders’ Equity

Long-term debt - affiliated

^[2]

500,000,000

Other liabilities

1,244,000,000

1,213,000,000

Total stockholders equity

11,602,000,000

8,451,000,000

Total liabilities and stockholders’ equity

16,320,000,000

12,942,000,000

CONSOLIDATED STATEMENTS OF INCOME

Interest and Dividend Income, Operating

^[3]

308,000,000

576,000,000

131,000,000

Total investment related gains (losses), net

4,000,000

(5,000,000)

Operating Expenses

(55,000,000)

(36,000,000)

(21,000,000)

Interest and Debt Expense

(206,000,000)

(181,000,000)

(177,000,000)

Income (loss) before income tax and undistributed earnings of subsidiaries

51,000,000

354,000,000

(72,000,000)

Income Tax Expense (Benefit)

(33,000,000)

(37,000,000)

66,000,000

Net income (loss) before undistributed earnings of subsidiaries

84,000,000

391,000,000

(138,000,000)

Equity In Undistributed Earnings Of Subsidiaries

786,000,000

325,000,000

1,960,000,000

Net Income (Loss) Attributable to Parent

870,000,000

716,000,000

1,822,000,000

Other Comprehensive Income (Loss), Net of Tax

(33,000,000)

21,000,000

(8,000,000)

Total comprehensive income (loss)

837,000,000

737,000,000

1,814,000,000

Debt Disclosure [Abstract]

Proceeds from Dividends Received

175,000,000

450,000,000

Long-term Debt

500,000,000

Cash flows from operating activities

Net Income (Loss) Attributable to Parent

870,000,000

716,000,000

1,822,000,000

Equity Net Earnings Subsidiaries

(786,000,000)

(325,000,000)

(1,960,000,000)

Other, net

72,000,000

37,000,000

58,000,000

Net cash provided by operating activities

156,000,000

428,000,000

(80,000,000)

Cash flows from investing activities

Sales of fixed maturity securities available-for-sale

576,000,000

482,000,000

515,000,000

Purchases of fixed maturity securities available-for-sale

(494,000,000)

(383,000,000)

(75,000,000)

Purchases Of Subsidiary Debt Securities

40,000,000

Payments for (Proceeds from) Short-term Investments

Payments for (Proceeds from) Other Investing Activities

125,000,000

Capital Contributions To Subsidiaries

(96,000,000)

(82,000,000)

(63,000,000)

Net cash used in investing activities

(14,000,000)

17,000,000

542,000,000

Cash flows from financing activities

Dividends to stockholders

(163,000,000)

(140,000,000)

(117,000,000)

Purchases of treasury stock

(101,000,000)

(300,000,000)

(44,000,000)

Exercise of stock options, net

6,000,000

3,000,000

7,000,000

Net Change In Cash Collateral For Loaned Securities

(92,000,000)

(2,000,000)

(37,000,000)

Maturities of Senior Debt

(397,000,000)

(300,000,000)

Proceeds from affiliated long-term debt issuance

(599,000,000)

Payments Of Debt Issuance Costs

(5,000,000)

Net cash used in financing activities

(153,000,000)

(439,000,000)

(491,000,000)

Change in cash and cash equivalents

(11,000,000)

6,000,000

(29,000,000)

Cash and cash equivalents, beginning of period

$ 21,000,000

$ 15,000,000

21,000,000

15,000,000

44,000,000

Cash and cash equivalents, end of period

$ 10,000,000

$ 21,000,000

10,000,000

21,000,000

15,000,000

Supplementary information:

Interest paid

192,000,000

176,000,000

186,000,000

Income taxes paid, net of refunds

$ 9,000,000

$ 93,000,000

$ 8,000,000

Senior Notes Due 2017 [Member]

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 300,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.625%

Senior Notes Due 2019 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 0

400,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

6.45%

Senior Notes Due 2019 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 0

400,000,000

Senior Notes Due 2021 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

400,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.00%

Senior Notes Due 2021 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 400,000,000

399,000,000

Senior Notes Due 2023 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

399,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

4.70%

Senior Notes Due 2023 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 399,000,000

399,000,000

Senior Notes Due 2026 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

400,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

3.95%

Senior Notes Due 2026 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 400,000,000

400,000,000

Senior Notes Due 2029 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

599,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 600,000,000

Debt Instrument, Interest Rate, Stated Percentage

3.90%

Senior Notes Due 2029 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 599,000,000

Subordinated Debentures Due 2042 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

400,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

6.20%

Subordinated Debentures Due 2042 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 400,000,000

400,000,000

Subordinated Debentures Due 2056 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

400,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.75%

Subordinated Debentures Due 2056 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 400,000,000

400,000,000

Junior Subordinated Debentures Due 2065 [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

319,000,000

Debt Disclosure [Abstract]

Debt Instrument, Face Amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

4.82%

Junior Subordinated Debentures Due 2065 [Member] | Parent Company [Member]

Supplemental Condensed Financial Information Of The Registrant [Line Items]

Long-term Debt, Gross

$ 398,000,000

$ 399,000,000

[1]

Long-term debt - unaffiliated consists of the following:



	2019			2018
$400 million 6.45% Senior Notes due 2019	$	—		$	400
$400 million 5.00% Senior Notes due 2021	400			399
$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			—
$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			399
Subtotal	2,996			2,797
Unamortized debt issue costs	(22		)	(19		)
Total	$	2,974		$	2,778

[2]

Long-term debt—affiliated in 2019 and 2018 consists of $500 million of subordinated debt issued to various operating subsidiaries.

[3]

Interest/dividend income includes $175 million and $450 million of cash dividends received from consolidated subsidiaries in 2019 and 2018, respectively.

Equity Based Compensation (Summary of Performance Contingent Unit Activity) (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Increases (Decreases) in Period	64,773
Outstanding, Number, Beginning Balance	395,871
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	120,403
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	248,789	170,080
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	6,407
Outstanding, Number, Ending Balance	325,851	395,871
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Increases (Decreases) in Period	0
Outstanding, Number, Beginning Balance	66,999
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	23,322
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	26,442
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	1,685
Outstanding, Number, Ending Balance	62,194	66,999

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock Member	Additional Paid In Capital Member	Retained Earnings Member	Treasury Stock Member	Accumulated Other Comprehensive Income Member
Total stockholders equity at Dec. 31, 2016	$ 7,093	$ 1	$ 1,849	$ 5,199	$ (1,095)	$ 1,139
Increase (Decrease) in Stockholders' Equity [Roll Forward]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification \| Accounting Standards Update 2018-02 [Member]	18			(139)		157
Net Income (Loss) Attributable to Parent	1,822			1,822
Other Comprehensive Income (Loss), Net of Tax	768					768
Dividends to stockholders, $2.60 per share	(117)			(117)
Purchase of treasury stock	(43)				43
Reissuance of treasury stock	(29)		(22)	(29)	(36)
Total stockholders equity at Dec. 31, 2017	9,570	1	1,871	6,736	(1,102)	2,064
Increase (Decrease) in Stockholders' Equity [Roll Forward]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification \| Accounting Standards Update 2018-02 [Member]	(3)			1		(4)
Net Income (Loss) Attributable to Parent	716			716
Other Comprehensive Income (Loss), Net of Tax	(1,424)					(1,424)
Dividends to stockholders, $2.60 per share	(140)			(140)
Purchase of treasury stock	(300)				300
Reissuance of treasury stock	(31)		(28)	(28)	(31)
Total stockholders equity at Dec. 31, 2018	8,450	1	1,899	7,285	(1,371)	636
Increase (Decrease) in Stockholders' Equity [Roll Forward]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification \| Accounting Standards Update 2018-02 [Member]	0			0
Net Income (Loss) Attributable to Parent	870			870
Other Comprehensive Income (Loss), Net of Tax	2,501					2,501
Dividends to stockholders, $2.60 per share	(163)			(163)
Purchase of treasury stock	(101)				101
Reissuance of treasury stock	(44)		(38)	(40)	(46)
Total stockholders equity at Dec. 31, 2019	$ 11,601	$ 1	$ 1,937	$ 7,952	$ (1,426)	$ 3,137

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Equity Based Compensation (Disclosure of Share-based Compensation Arrangements by Share-based Payment Award) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options, Grants in Period, Weighted Average Exercise Price	$ 145.25	$ 150.87	$ 129.72
Options, Outstanding, Intrinsic Value	$ 143.1
Options, Exercisable, Intrinsic Value	$ 120.4
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Number, Beginning Balance	395,871
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	120,403
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	(248,789)	(170,080)
Forfeited	(6,407)
Outstanding, Number, Ending Balance	325,851	395,871
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options, Grants in Period, Weighted Average Exercise Price	$ 145.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Increases (Decreases) in Period	64,773
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Number, Beginning Balance	66,999
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	23,322
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	(26,442)
Forfeited	(1,685)
Outstanding, Number, Ending Balance	62,194	66,999
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Increases (Decreases) in Period	0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Number, Beginning Balance	2,170,443
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	192,845
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	(322,673)
Forfeited	(8,818)
Outstanding, Number, Ending Balance	2,031,797	2,170,443
Options exercisable	1,514,959
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options, Outstanding, Weighted Average Exercise Price, Beginning of Period	$ 82.65
Options, Grants in Period, Weighted Average Exercise Price	145.25
Exercised / Lapsed	56.52
Forfeited	108.47
Options, Outstanding, Weighted Average Exercise Price, End of Period	92.63	$ 82.65
Options exercisable	$ 83.58

Equity Equity (Balance of and Changes in Each Component of AOCI) (Footnote) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	$ (26)	$ 9	$ 3	$ (2)

Investments (Fixed Maturity Securities Pledged And Received As Collateral) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 29,205	$ 24,006
Available-for-sale Securities	31,393	23,982
Assets Held-in-trust	694	768
Estimate of Fair Value Measurement [Member]
Debt Securities, Available-for-sale [Line Items]
Assets Held-in-trust	29,239	20,366
Reported Value Measurement [Member]
Debt Securities, Available-for-sale [Line Items]
Assets Held-in-trust	27,290	20,073
Collateral Fixed Maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	113	81
Available-for-sale Securities	116	84
Collateral Received Fixed Maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities	$ 727	$ 617

Investments (Mortgage Loans by Property Type) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 5,727	$ 4,983
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%	100.00%
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	$ (9)	$ (6)
Allowance for Loan and Lease Losses, Real Estate	(12)	(11)	$ (9)	$ (8)
Mortgage loans on real estate	5,706	4,966
Office Building [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 1,771	$ 1,726
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	31.00%	34.60%
Retail Site [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 1,686	$ 1,432
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	29.40%	28.70%
Industrial Property [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 1,169	$ 962
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	20.40%	19.30%
Apartment Building [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 766	$ 571
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	13.40%	11.50%
Other Property [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 335	$ 292
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	5.80%	5.90%

Collateral Finance and Securitization Notes (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2006
Collateral Finance Facility [Line Items]
Debt Instrument, Face Amount				$ 850,000,000
Direct investment in subsidiary				$ 113,000,000
Assets Held-in-trust	$ 694,000,000	$ 768,000,000
Amount Held In Debt Service Coverage Account	58,000,000	57,000,000
Collateral Financing Expense	29,000,000	30,000,000	$ 29,000,000
Debt Issuance Cost	22,000,000	19,000,000
Reinsurance Group Of America Barbados [Member]
Collateral Finance Facility [Line Items]
Collateral Financing Expense	5,000,000	5,000,000	4,000,000
Timerberlake Financial [Member]
Collateral Finance Facility [Line Items]
Collateral Financing Expense	9,000,000	9,000,000	6,000,000
Chesterfield Financial Holdings LLC [Member]
Collateral Finance Facility [Line Items]
Debt Instrument, Face Amount	300,000,000
Assets Held-in-trust	15,000,000	14,000,000
Collateral Financing Expense	$ 8,000,000	$ 10,000,000	$ 11,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.50%

Collateral Finance and Securitization Notes Collateral Finance and Securitization Notes (Tables)

12 Months Ended

Dec. 31, 2019

Collateralized Financings [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The Company’s collateral finance and securitization notes consist of the following as of December 31, 2019 and 2018 (dollars in millions):



	2019			2018
Timberlake Financial	$	313		$	368
RGA Barbados	127			132
Chesterfield Financial	161			186
Unamortized issuance costs	(3		)	(4		)
Total	$	598		$	682

Investments

12 Months Ended

Dec. 31, 2019

Investments [Abstract]

Investments

INVESTMENTS

Fixed Maturity Securities Available-for-Sale

The Company holds various types of fixed maturity securities available-for-sale and classifies them as corporate securities (“Corporate”), Canadian and Canadian provincial government securities (“Canadian government”), residential mortgage-backed securities (“RMBS”), asset-backed securities (“ABS”), commercial mortgage-backed securities (“CMBS”), U.S. government and agencies (“U.S. government”), state and political subdivisions, and other foreign government, supranational and foreign government-sponsored enterprises (“Other foreign government”).

The following tables provide information relating to investments in fixed maturity securities by type as of December 31, 2019 and 2018 (dollars in millions):



December 31, 2019:	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total		Other-than- temporary impairments in AOCI
Available-for-sale:
Corporate	$	29,205	$	2,269	$	81	$	31,393	61.4	%	$	—
Canadian government	3,016		1,596		—		4,612		9.0		—
RMBS	2,339		62		3		2,398		4.7		—
ABS	2,973		19		14		2,978		5.8		—
CMBS	1,841		61		3		1,899		3.7		—
U.S. government	2,096		57		1		2,152		4.2		—
State and political subdivisions	1,074		93		3		1,164		2.3		—
Other foreign government	4,209		321		5		4,525		8.9		—
Total fixed maturity securities	$	46,753	$	4,478	$	110	$	51,121	100.0	%	$	—



December 31, 2018:	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total		Other-than- temporary impairments in AOCI
Available-for-sale:
Corporate	$	24,006	$	531	$	555	$	23,982	59.9	%	$	—
Canadian government	2,768		1,126		2		3,892		9.7		—
RMBS	1,872		22		25		1,869		4.7		—
ABS	2,172		11		33		2,150		5.4		—
CMBS	1,428		9		18		1,419		3.5		—
U.S. government	2,234		10		58		2,186		5.5		—
State and political subdivisions	721		40		9		752		1.9		—
Other foreign government	3,681		109		48		3,742		9.4		—
Total fixed maturity securities	$	38,882	$	1,858	$	748	$	39,992	100.0	%	$	—

The Company enters into various collateral arrangements with counterparties that require both the pledging and acceptance of fixed maturity securities as collateral. Pledged fixed maturity securities are included in fixed maturity securities, available-for-sale in the consolidated balance sheets. Fixed maturity securities received as collateral are held in separate custodial accounts and are not recorded on the Company’s consolidated balance sheets. Subject to certain constraints, the Company is permitted by contract to sell or repledge collateral it receives; however, as of December 31, 2019 and 2018, none of the collateral received had been sold or repledged. The Company also holds assets in trust to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties. The following table includes fixed maturity securities pledged and received as collateral and assets in trust held to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties as of December 31, 2019 and 2018 (dollars in millions):



	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities pledged as collateral	$	113	$	116	$	81	$	84
Fixed maturity securities received as collateral	n/a		727		n/a		617
Assets in trust held to satisfy collateral requirements	27,290		29,239		20,073		20,366

The Company monitors its concentrations of financial instruments on an ongoing basis and mitigates credit risk by maintaining a diversified investment portfolio that limits exposure to any one issuer. The Company’s exposure to concentrations of credit risk from single issuers greater than 10% of the Company’s stockholders’ equity included securities of the U.S. government and its agencies, as well as the securities disclosed below, as of December 31, 2019 and 2018 (dollars in millions):



	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities guaranteed or issued by:
Canadian province of Quebec	$	1,205	$	2,163	$	1,091	$	1,757
Canadian province of Ontario	1,014		1,379		914		1,188

The amortized cost and estimated fair value of fixed maturity securities classified as available-for-sale as of December 31, 2019 are shown by contractual maturity in the table below (dollars in millions). Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset and mortgage-backed securities are shown separately in the table below, as they are not due at a single maturity date.



	Amortized Cost		Estimated Fair Value
Available-for-sale:
Due in one year or less	$	1,267	$	1,281
Due after one year through five years	9,056		9,387
Due after five years through ten years	9,641		10,416
Due after ten years	19,636		22,762
Asset and mortgage-backed securities	7,153		7,275
Total	$	46,753	$	51,121

Corporate Fixed Maturity Securities

The tables below show the major sectors of the Company’s corporate fixed maturity holdings as of December 31, 2019 and 2018 (dollars in millions):



December 31, 2019:	Amortized Cost		Estimated Fair Value		% of Total
Finance	$	10,896	$	11,653	37.2	%
Industrial	14,692		15,803		50.3
Utility	3,617		3,937		12.5
Total	$	29,205	$	31,393	100.0	%

December 31, 2018:	Amortized Cost		Estimated Fair Value		% of Total
Finance	$	8,794	$	8,731	36.3	%
Industrial	12,337		12,342		51.6
Utility	2,875		2,909		12.1
Total	$	24,006	$	23,982	100.0	%

Other-Than-Temporary Impairments - Fixed Maturity Securities

As discussed in Note 2 – “Significant Accounting Policies and Pronouncements,” a portion of certain OTTI on fixed maturity securities is recognized in AOCI. For these securities, the net amount recognized in the consolidated statements of income (“credit loss impairments”) represents the difference between the amortized cost of the security and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. Any remaining difference between the fair value and amortized cost is recognized in AOCI. The following table sets forth the amount of pre-tax credit loss impairments on fixed maturity securities held by the Company as of the dates indicated, for which a portion of the OTTI was recognized in AOCI, and the corresponding changes in such amounts (dollars in millions):



	2019			2018		2017
Balance, beginning of period	$	4		$	4	$	6
Credit loss impairments previously recognized on securities impaired to fair value during the period	—			—		(2		)
Credit loss previously recognized on securities that matured, paid down, prepaid or were sold during the period	(2		)	—		—
Balance, end of period	$	2		$	4	$	4

Unrealized Losses for Fixed Maturity Securities Available-for-Sale

The following table presents the total gross unrealized losses for the 1,072 and 3,109 fixed maturity securities as of December 31, 2019 and 2018, where the estimated fair value had declined and remained below amortized cost by the indicated amount (dollars in millions):



	2019				2018
	Gross Unrealized Losses		% of Total		Gross Unrealized Losses		% of Total
Less than 20%	$	76	69.1	%	$	721	96.4	%
20% or more for less than six months	20		18.2		21		2.8
20% or more for six months or greater	14		12.7		6		0.8
Total	$	110	100.0	%	$	748	100.0	%

The Company’s determination of whether a decline in value is other-than-temporary includes an analysis of the underlying credit and the extent and duration of a decline in value. The Company’s credit analysis of an investment includes determining whether the issuer is current on its contractual payments, evaluating whether it is probable that the Company will be able to collect all amounts due according to the contractual terms of the security and analyzing the overall ability of the Company to recover the amortized cost of the investment.

The following tables present the estimated fair values and gross unrealized losses, including OTTI reported in AOCI, for fixed maturity securities that have estimated fair values below amortized cost as of December 31, 2019 and 2018 (dollars in millions). These investments are presented by class and grade of security, as well as the length of time the related fair value has remained below amortized cost.



	Less than 12 months				12 months or greater				Total
December 31, 2019:	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
Investment grade securities:
Corporate	$	1,936	$	29	$	293	$	7	$	2,229	$	36
Canadian government	—		—		—		—		—		—
RMBS	367		2		84		1		451		3
ABS	773		5		739		9		1,512		14
CMBS	253		3		—		—		253		3
U.S. government	49		1		—		—		49		1
State and political subdivisions	103		2		12		1		115		3
Other foreign government	278		4		—		—		278		4
Total investment grade securities	3,759		46		1,128		18		4,887		64
Below investment grade securities:
Corporate	220		38		100		7		320		45
Other foreign government	—		—		10		1		10		1
Total below investment grade securities	220		38		110		8		330		46
Total fixed maturity securities	$	3,979	$	84	$	1,238	$	26	$	5,217	$	110



	Less than 12 months				12 months or greater				Total
December 31, 2018:	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
Investment grade securities:
Corporate	$	8,505	$	302	$	3,612	$	195	$	12,117	$	497
Canadian government	—		—		132		2		132		2
RMBS	270		2		836		23		1,106		25
ABS	1,102		24		382		9		1,484		33
CMBS	384		4		415		14		799		18
U.S. government	—		—		1,086		58		1,086		58
State and political subdivisions	104		2		157		7		261		9
Other foreign government	790		25		473		17		1,263		42
Total investment grade securities	11,155		359		7,093		325		18,248		684
Below investment grade securities:
Corporate	756		43		123		15		879		58
Other foreign government	129		6		—		—		129		6
Total below investment grade securities	885		49		123		15		1,008		64
Total fixed maturity securities	$	12,040	$	408	$	7,216	$	340	$	19,256	$	748

The Company has no intention to sell, nor does it expect to be required to sell, the securities outlined in the table above, as of the dates indicated. However, unforeseen facts and circumstances may cause the Company to sell fixed maturity securities in the ordinary course of managing its portfolio to meet certain diversification, credit quality and liquidity guidelines. Changes in unrealized losses are primarily driven by changes in interest rates.

Investment Income, Net of Related Expenses

Major categories of investment income, net of related expenses, consist of the following (dollars in millions):



	2019			2018			2017
Fixed maturity securities available-for-sale	$	1,786		$	1,529		$	1,402
Equity securities	8			4			4
Mortgage loans on real estate	255			214			198
Policy loans	58			59			61
Funds withheld at interest	297			310			458
Short-term investments and cash and cash equivalents	28			14			7
Other invested assets	184			99			106
Investment income	2,616			2,229			2,236
Investment expense	(96		)	(90		)	(81		)
Investment income, net of related expenses	$	2,520		$	2,139		$	2,155

Investment Related Gains (Losses), Net

Investment related gains (losses), net, consist of the following (dollars in millions):



	2019			2018			2017
Fixed maturity securities available for sale:
OTTI	$	(31	)	$	(28	)	$	(43	)
Gain on investment activity	151			65			111
Loss on investment activity	(50		)	(159		)	(37		)
Net gains (losses) on equity securities	16			(20		)	(5		)
Other impairment losses and change in mortgage loan provision	(12		)	(12		)	(10		)
Derivatives and other, net	17			(16		)	152
Total investment related gains (losses), net	$	91		$	(170	)	$	168

The OTTI on fixed maturity securities for 2019, 2018 and 2017 are primarily due to emerging market and high-yield debt exposures. The fluctuations in investment related gains (losses) for derivatives and other are primarily due to changes in the fair value of embedded derivatives related to modified coinsurance and funds withheld treaties, as a result of changes in interest rates, driven primarily by credit spreads.

As of December 31, 2019 and 2018, the Company held non-income producing securities with amortized costs of $47 million and $41 million, and estimated fair values of $51 million and $43 million, respectively. Generally, securities are non-income producing when principal or interest is not paid primarily as a result of bankruptcies or credit defaults, but also include securities where amortization has been discontinued.

Securities Borrowing, Lending and Repurchase Agreements

The following table includes the amount of borrowed securities, securities lent and securities collateral received as part of the securities lending program, repurchased/reverse repurchased securities pledged and received and cash received as of December 31, 2019 and 2018 (dollars in millions):



	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Borrowed securities	$	339	$	369	$	336	$	367
Securities lending:
Securities loaned	98		104		102		103
Securities received	n/a		107		n/a		112
Repurchase program/reverse repurchase program:
Securities pledged	356		384		554		554
Securities received	n/a		370		n/a		531

The Company also held cash collateral for securities lending and the repurchase program/reverse repurchase programs of $1 million and $29 million as of December 31, 2019 and 2018, respectively. No cash or securities have been pledged by the Company for its securities borrowing program as of December 31, 2019 and 2018.

The following tables present information on the Company’s securities lending and repurchase transactions as of December 31, 2019 and 2018, respectively (dollars in millions). Collateral associated with certain borrowed securities is not included within the tables as the collateral pledged to each counterparty is the right to reinsurance treaty cash flows.



	December 31, 2019
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Securities lending transaction:
Corporate	$	—	$	—	$	—	$	104	$	104
Total	—		—		—		104		104
Repurchase transactions:
Corporate	—		—		—		286		286
U.S. government	—		—		—		—		—
Foreign government	—		—		—		98		98
Total	—		—		—		384		384
Total transactions	$	—	$	—	$	—	$	488	$	488

Gross amount of recognized liabilities for securities lending and repurchase transactions in preceding table									$	478
Amounts related to agreements not included in offsetting disclosure									$	10



	December 31, 2018
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Securities lending transaction:
Corporate	$	—	$	—	$	—	$	103	$	103
Total	—		—		—		103		103
Repurchase transactions:
Corporate	—		—		—		254		$	254
U.S. government	—		—		—		221		221
Foreign government	—		—		—		79		79
Total	—		—		—		554		554
Total transactions	$	—	$	—	$	—	$	657	$	657

Gross amount of recognized liabilities for securities lending and repurchase transactions in preceding table									$	671
Amounts related to agreements not included in offsetting disclosure									$	14

The Company has elected to offset amounts recognized as receivables and payables resulting from the repurchase/reverse repurchase programs. After the effect of offsetting, the net amount presented on the consolidated balance sheets was a liability of $1 million and $0 million as of December 31, 2019 and 2018, respectively. As of December 31, 2019 and 2018, the Company recognized payables resulting from cash received as collateral associated with a repurchase agreement as discussed above. Amounts owed to and due from the counterparties may be settled in cash or offset, in accordance with the agreements.

Mortgage Loans on Real Estate

As of December 31, 2019, mortgage loans were geographically dispersed throughout the U.S. with the largest concentrations in California (15.5%), Texas (12.5%) and Washington (8.4%) and include loans secured by properties in Canada (3.2%) and United Kingdom (1.0%). The recorded investment in mortgage loans on real estate presented below is gross of unamortized deferred loan origination fees and expenses, and valuation allowances.

The distribution of mortgage loans by property type is as follows as of December 31, 2019 and 2018 (dollars in millions):



	2019					2018
	Carrying Value			Percentage of Total		Carrying Value			Percentage of Total
Property type:
Office building	$	1,771		31.0	%	$	1,726		34.6	%
Retail	1,686			29.4		1,432			28.7
Industrial	1,169			20.4		962			19.3
Apartment	766			13.4		571			11.5
Other commercial	335			5.8		292			5.9
Recorded investment	5,727			100.0	%	4,983			100.0	%
Unamortized balance of loan origination fees and expenses	(9		)			(6		)
Valuation allowances	(12		)			(11		)
Total mortgage loans on real estate	$	5,706				$	4,966

The maturities of the mortgage loans as of December 31, 2019 and 2018 are as follows (dollars in millions):



	2019				2018
	Recorded Investment		% of Total		Recorded Investment		% of Total
Due within five years	$	1,841	32.2	%	$	1,426	28.6	%
Due after five years through ten years	2,944		51.4		2,686		53.9
Due after ten years	942		16.4		871		17.5
Total	$	5,727	100.0	%	$	4,983	100.0	%

The following tables set forth certain key credit quality indicators of the Company’s recorded investment in mortgage loans as of December 31, 2019 and 2018 (dollars in millions):



	Recorded Investment
	Debt Service Ratios						Construction loans
	>1.20x		1.00x - 1.20x		<1.00x		Construction loans		Total		% of Total
December 31, 2019:
Loan-to-Value Ratio
0% - 59.99%	$	3,025	$	52	$	7	$	—	$	3,084	53.8	%
60% - 69.99%	1,841		53		11		—		1,905		33.3
70% - 79.99%	492		13		39		—		544		9.5
Greater than 80%	96		61		37		—		194		3.4
Total	$	5,454	$	179	$	94	$	—	$	5,727	100.0	%



	Recorded Investment
	Debt Service Ratios						Construction loans
	>1.20x		1.00x - 1.20x		<1.00x		Construction loans		Total		% of Total
December 31, 2018:
Loan-to-Value Ratio
0% - 59.99%	$	2,411	$	61	$	38	$	14	$	2,524	50.6	%
60% - 69.99%	1,618		74		38		19		1,749		35.1
70% - 79.99%	414		48		54		—		516		10.4
Greater than 80%	118		50		26		—		194		3.9
Total	$	4,561	$	233	$	156	$	33	$	4,983	100.0	%

None of the payments due to the Company on its recorded investment in mortgage loans were delinquent as of December 31, 2019 and 2018.

The following table presents the recorded investment in mortgage loans, by method of measuring impairment, and the related valuation allowances, as of December 31, 2019 and 2018 (dollars in millions):



	2019		2018
Mortgage loans:
Individually measured for impairment	$	17	$	31
Collectively measured for impairment	5,710		4,952
Recorded investment	$	5,727	$	4,983
Valuation allowances:
Individually measured for impairment	$	—	$	—
Collectively measured for impairment	12		11
Total valuation allowances	$	12	$	11

Information regarding the Company’s loan valuation allowances for mortgage loans as of December 31, 2019, 2018 and 2017 are as follows (dollars in millions):



	2019		2018		2017
Balance, beginning of period	$	11	$	9	$	8
Provision	1		2		1
Balance, end of period	$	12	$	11	$	9

Information regarding the portion of the Company’s mortgage loans that were impaired as of December 31, 2019 and 2018 is as follows (dollars in millions):



	Unpaid Principal Balance		Recorded Investment		Related Allowance		Carrying Value
December 31, 2019:
Impaired mortgage loans with no valuation allowance recorded	$	17	$	17	$	—	$	17
Impaired mortgage loans with valuation allowance recorded	—		—		—		—
Total impaired mortgage loans	$	17	$	17	$	—	$	17
December 31, 2018:
Impaired mortgage loans with no valuation allowance recorded	$	31	$	31	$	—	$	31
Impaired mortgage loans with valuation allowance recorded	—		—		—		—
Total impaired mortgage loans	$	31	$	31	$	—	$	31

The Company’s average investment balance of impaired mortgage loans and the related interest income are reflected in the table below for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):



	2019				2018				2017
	Average Investment⁽¹⁾		Interest Income		Average Investment⁽¹⁾		Interest Income		Average Investment⁽¹⁾		Interest Income
Impaired mortgage loans with no valuation allowance recorded	$	20	$	1	$	24	$	1	$	4	$	—
Impaired mortgage loans with valuation allowance recorded	—		—		—		—		—		—
Total	$	20	$	1	$	24	$	1	$	4	$	—


(1)	Average recorded investment represents the average loan balances as of the beginning of period and all subsequent quarterly end of period balances.

The Company did not acquire any impaired mortgage loans during the years ended December 31, 2019 and 2018. The Company had no mortgage loans that were on a nonaccrual status as of December 31, 2019 and 2018.

Policy Loans

The majority of policy loans are associated with one client. These policy loans present no credit risk as the amount of the loan cannot exceed the obligation due to the ceding company upon the death of the insured or surrender of the underlying policy. The provisions of the treaties in force and the underlying policies determine the policy loan interest rates. The Company earns a spread between the interest rate earned on policy loans and the interest rate credited to corresponding liabilities.

Funds Withheld at Interest

As of December 31, 2019, $3.5 billion of the funds withheld at interest balance is associated with one client. For reinsurance agreements written on a modco basis and certain agreements written on a coinsurance funds withheld basis, assets equal to the

net statutory reserves are withheld and legally owned and managed by the ceding company and are reflected as funds withheld at interest on the Company’s consolidated balance sheets. In the event of a ceding company’s insolvency, the Company would need to assert a claim on the assets supporting its reserve liabilities. However, the risk of loss to the Company is mitigated by its ability to offset amounts it owes the ceding company for claims or allowances against amounts owed to the Company from the ceding company.

Other Invested Assets

Other invested assets include limited partnership interests, joint ventures (other than operating joint ventures), lifetime mortgages, derivative contracts and fair value option (“FVO”) contractholder-directed unit-linked investments. Other invested assets also include FHLB common stock, which is included in Other in the table below. Carrying values of these assets as of December 31, 2019 and 2018 are as follows (dollars in millions):



	2019		2018
Limited partnership interests and real estate joint ventures	$	1,134	$	965
Lifetime mortgages	775		476
Derivatives	117		180
FVO contractholder-directed unit-linked investments	260		198
Other	77		96
Total other invested assets	$	2,363	$	1,915

Earnings Per Share Earnings Per Share (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.2	0.1	0.2
Contingently Issuable Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.3	0.4	0.3

Equity (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Equity (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Stock Repurchase Program, Authorized Amount	$ 400
Treasury Stock, Value, Acquired, Cost Method	$ 101	$ 300	$ 43

Investments (Other Invested Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Other Investments [Abstract]
Other invested assets	$ 2,363	$ 1,915
Limited Partner [Member]
Other Investments [Abstract]
Other invested assets	1,134	965
Gain (Loss) on Derivatives [Member]
Other Investments [Abstract]
Other invested assets	117	180
Fair Value Option Contractholder Directed Unit Linked Investments [Member]
Other Investments [Abstract]
Other invested assets	260	198
Other [Member]
Other Investments [Abstract]
Other invested assets	77	96
Equity Release Mortgages [Member]
Other Investments [Abstract]
Other invested assets	$ 775	$ 476

Employee Benefit Plans (Schedule of Health Care Costs Trend Rates) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Medicare Eligible Claims [Member]
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year	8.00%	8.00%
Defined Benefit Plan, Assumed Health Care Cost Trend Rate, Description	8% down to 4.5% in 2026	8% down to 5% in 2024
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	4.50%	5.00%
Pre Medicare Eligible Claims [Member]
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year	8.00%	8.00%
Defined Benefit Plan, Assumed Health Care Cost Trend Rate, Description	8% down to 4.5% in 2026	8% down to 5% in 2024
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	4.50%	5.00%

Derivative Instruments (Cash Flow Hedges) (Details) - Cash Flow Hedging [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ (34)	$ 6	$ 6
Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	1
Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1	0	0
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(32)	12	(6)
Interest Rate Swap [Member] \| Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Interest Rate Swap [Member] \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Interest Rate Swap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1	0	0
Currency Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(2)	(6)	12
Currency Swap [Member] \| Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Currency Swap [Member] \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Currency Swap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0	0	0
Forward Contracts [Member] \| Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	1
Forward Contracts [Member] \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Forward Contracts [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 0	$ 0

Investments (Mortgage Loans by Method of Evaluation and Related Valuation Allowances) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Mortgage Loans [Abstract]
Financing Receivable, Individually Evaluated for Impairment	$ 17	$ 31
Financing Receivable, Collectively Evaluated for Impairment	5,710	4,952
Loans Receivable, Gross, Commercial, Real Estate	5,727	4,983
Valuation Allowances [Abstract]
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	0	0
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	12	11
Allowance for Loan and Lease Losses, Real Estate	$ 12	$ 11	$ 9	$ 8

Employee Benefit Plans (Schedule of Allocation of Plan Assets) (Details) - USD ($)
$ in Millions

Dec. 31, 2019

Dec. 31, 2018

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

$ 133

$ 103

Mutual Funds [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

$ 133

^[1]

$ 103

^[2]

U.S. Equity Funds [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

27.00%

25.00%

U.S. Fixed Income Funds [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

39.00%

42.00%

Non-U.S. Equity Funds [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

18.00%

17.00%

Other [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

16.00%

Cash and Cash Equivalents [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

$ 0

Fair Value, Inputs, Level 1 [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

133

103

Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

133

^[1]

103

^[2]

Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

Fair Value, Inputs, Level 2 [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

^[1]

^[2]

Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

Fair Value, Inputs, Level 3 [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

^[1]

^[2]

Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

$ 0

[1]	Mutual funds were invested 27% in U.S. equity funds, 39% in U.S. fixed income funds, 18% in non-U.S. equity funds and 16% in other.
[2]	Mutual funds were invested 25% in U.S. equity funds, 42% in U.S. fixed income funds, 17% in non-U.S. equity funds and 16% in other.

Income Tax (Reconciliation of the Amount of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Increase Resulting from Acquisition	$ 0	$ 1	$ 0
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits Beginning balance, January 1	325	321	297
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions	264	256	248
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions	(262)	(257)	(247)
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions	6	4	36
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	0	0	(13)
Unrecognized Tax Benefits Ending balance, December 31	$ 333	$ 325	$ 321

Employee Benefit Plans (Schedule of Amounts Recognized in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Change In Benefit Obligation [Line Items]
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	$ 59	$ 49
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Prior Service Costs (Credit) Arising During Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	59	49
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Change In Benefit Obligation [Line Items]
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	39	26
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Prior Service Costs (Credit) Arising During Period, Net of Tax	(9)	(10)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	$ 30	$ 16

Commitments Contingencies and Guarantees (Maximum Potential Obligation) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Commitment Period Two Thousand Thirty Five [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 2,654
Commitment Period Two Thousand Thirty Six [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	3,408
Commitment Period Two Thousand Thirty Seven [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	5,750
Commitment Period Two Thousand Thirty Eight [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	1,800
Commitment Period Two Thousand Thirty Nine [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 5,750

Equity Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The following table presents a summary of stock option activity:



	Number of Options		Weighted-Average Exercise Price		Aggregate Intrinsic Value (in millions)
Outstanding December 31, 2018	2,170,443		$	82.65
Granted	192,845		$	145.25
Exercised	(322,673	)	$	56.52
Forfeited	(8,818	)	$	108.47
Outstanding December 31, 2019	2,031,797		$	92.63	$	143.1
Options exercisable	1,514,959		$	83.58	$	120.4

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding as of 12/31/2019	Weighted-Average Remaining Contractual Life (years)	Weighted- Average Exercise Price		Number Exercisable as of 12/31/2019	Weighted-Average Exercise Price
$0.00 - $49.99	23,764	0.1	$	47.10	23,764	$	47.10
$50.00 - $59.99	634,157	2.5	$	58.28	634,157	$	58.28
$60.00 - $69.99	839	3.2	$	60.24	839	$	60.24
$70.00 - $79.99	149,248	4.2	$	78.48	149,248	$	78.48
$90.00 +	1,223,789	6.8	$	113.05	706,951	$	108.61
Totals	2,031,797	5.2	$	92.63	1,514,959	$	83.58

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table presents the weighted average assumptions used to determine the fair value of stock options issued:



For the years ended December 31,	2019			2018			2017
Dividend yield	1.65		%	1.33		%	1.26		%
Risk-free rate of return	2.67		%	2.79		%	2.32		%
Expected volatility	18.2		%	21.4		%	22.8		%
Expected life (years)	6.0			7.0			7.0
Weighted average exercise price of stock options granted	$	145.25		$	150.87		$	129.72
Weighted average fair value of stock options granted	$	26.59		$	36.31		$	31.57

Share-based Payment Arrangement, Activity [Table Text Block]

The following table presents a summary of Performance Share and Restricted Stock Unit activity:



	Performance Contingent Units		Restricted Stock Units
Outstanding December 31, 2018	395,871		66,999
Granted	120,403		23,322
Change in units based on performance factor	64,773		—
Paid	(248,789	)	(26,442	)
Forfeited	(6,407	)	(1,685	)
Outstanding December 31, 2019	325,851		62,194

Investments (Amortized Cost and Fair Value of Fixed Maturities by Contractual Maturities) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis [Abstract]
Available-for-sale Securities, Debt Maturities, within One Year, Amortized Cost Basis	$ 1,267
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Amortized Cost Basis	9,056
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Amortized Cost Basis	9,641
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost	19,636
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost	7,153
Available for Sale at Fair value - Amortized cost	46,753	$ 38,882
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value	1,281
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value	9,387
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value	10,416
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value	22,762
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value	7,275
Fixed maturity securities available-for-sale	$ 51,121	$ 39,992

Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt

DEBT

Long-Term Debt

The Company’s long-term debt consists of the following as of December 31, 2019 and 2018 (dollars in millions):



	2019			2018
$400 million 6.45% Senior Notes due 2019	$	—		$	400
$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			—
$100 million 4.09% Promissory Note due 2039	86			89
$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	319			319
Sub-total	3,003			2,807
Unamortized issuance costs	(22		)	(19		)
Long-term Debt	$	2,981		$	2,788

RGA has entered into an interest rate swap on its Variable Rate Junior Subordinated Debentures that effectively fixes the interest rate on these securities at 4.82% until December 2037.

On May 15, 2019, RGA issued 3.9% Senior Notes due May 15, 2029 with a face amount of $600 million. This security has been registered with the Securities and Exchange Commission. The net proceeds were approximately $594 million and was used in part to repay upon maturity the Company’s $400 million 6.45% Senior Notes that matured in November 2019. The remainder will be used for general corporate purposes. Capitalized issue costs were approximately $5 million.

Certain of the Company’s debt agreements contain financial covenant restrictions related to, among others, liens, the issuance and disposition of stock of restricted subsidiaries, minimum requirements of consolidated net worth, maximum ratios of debt to capitalization and change of control provisions. A material ongoing covenant default could require immediate payment of the amount due, including principal, under the various agreements. Additionally, the Company’s debt agreements contain cross-default covenants, which would make outstanding borrowings immediately payable in the event of a material uncured covenant default under any of the agreements, including, but not limited to, non-payment of indebtedness when due for an amount in excess of the amounts set forth in those agreements, bankruptcy proceedings, or any other event that results in the acceleration of the maturity of indebtedness. As of December 31, 2019 and 2018, the Company had $3,003 million and $2,807 million, respectively, in outstanding borrowings under its debt agreements and was in compliance with all covenants under those agreements. As of December 31, 2019 and 2018, the average interest rate on long-term debt outstanding was 4.82% and 5.24%, respectively.

The ability of the Company to make debt principal and interest payments depends on the earnings and surplus of subsidiaries, investment earnings on undeployed capital proceeds, and the Company’s ability to raise additional funds. Future principal payments due on long-term debt, excluding discounts, as of December 31, 2019, were as follows (dollars in millions):



	Calendar Year
	2020		2021		2022		2023		2024		Thereafter
Long-term debt	$	3	$	403	$	3	$	403	$	3	$	2,190

Credit and Committed Facilities

The Company has obtained bank letters of credit in favor of various affiliated and unaffiliated insurance companies from which the Company assumes business. These letters of credit represent guarantees of performance under the reinsurance agreements and allow ceding companies to take statutory reserve credits. Certain of these letters of credit contain financial covenant restrictions. At December 31, 2019 and 2018, there were approximately $62 million and $106 million, respectively, of undrawn outstanding bank letters of credit in favor of third parties. Additionally, the Company utilizes letters of credit primarily to secure reserve credits when it retrocedes business to its affiliated subsidiaries. The Company cedes business to its affiliates to help reduce the amount of regulatory capital required in certain jurisdictions such as the U.S. and the United Kingdom. As of December 31, 2019 and 2018, $1,224 million and $1,357 million, respectively, in undrawn letters of credit from various banks were outstanding, primarily backing reinsurance between the various subsidiaries of the Company. The banks providing letters of credit to the Company are included on the NAIC list of approved banks.

The Company maintains six committed credit facilities, a syndicated revolving credit facility with a capacity of $850 million and five letter of credit facilities with a combined capacity of $880 million. The Company may borrow cash and obtain letters of credit in multiple currencies under its syndicated revolving credit facility. The following table provides additional information on the Company’s existing committed credit facilities as of December 31, 2019 and 2018 (dollars in millions):



			Amount Utilized⁽¹⁾ December 31,
Current Capacity		Maturity Date	2019		2018		Basis of Fees
$	75	June 2021	$	15	$	34	Fixed
105 ⁽²⁾		December 2021	105		106		Fixed
100		March 2022	99		—		Fixed
500		May 2022	375		395		Debt rating and utilization %
100		May 2023	61		61		Fixed
850		August 2023	20		18		Senior unsecured long-term debt rating


(1)	Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.


(2)	Foreign currency denominated facility, amounts presented are in U.S. dollars.

Fees associated with the Company’s other letters of credit are not fixed for periods in excess of one year and are based on the Company’s ratings and the general availability of these instruments in the marketplace. Total fees expensed associated with the Company’s letters of credit were $8 million, $10 million and $11 million for the years ended December 31, 2019, 2018 and 2017, respectively, and are included in policy acquisition costs and other insurance expenses.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

A December 31 measurement date is used for all of the defined benefit and postretirement plans. The status of these plans as of December 31, 2019 and 2018 is summarized below (dollars in millions):



	December 31,
	Pension Benefits						Other Benefits
	2019			2018			2019			2018
Change in benefit obligation:
Benefit obligation at beginning of year	$	179		$	172		$	67		$	70
Service cost	13			13			3			3
Interest cost	7			5			3			2
Participant contributions	—			—			—			—
Actuarial (gains) losses	28			(1		)	15			(7		)
Benefits paid	(8		)	(8		)	(1		)	(1		)
Foreign exchange translations and other adjustments	1			(2		)	—			—
Benefit obligation at end of year	$	220		$	179		$	87		$	67

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]



	December 31,
	Pension Benefits						Other Benefits
	2019			2018			2019			2018
Change in plan assets:
Fair value of plan assets at beginning of year	$	103		$	103		$	—		$	—
Actual return on plan assets	21			(6		)	—			—
Employer contributions	17			14			1			1
Participant contributions	—			—			—			—
Benefits paid and expenses	(8		)	(8		)	(1		)	(1		)
Fair value of plan assets at end of year	$	133		$	103		$	—		$	—
Funded status at end of year	$	(87	)	$	(76	)	$	(87	)	$	(67	)

Schedule of Net Funded Status [Table Text Block]



	December 31,
	Qualified Plans						Non-Qualified Plans⁽¹⁾						Total
	2019			2018			2019			2018			2019			2018
Aggregate fair value of plan assets	$	133		$	103		$	—		$	—		$	133		$	103
Aggregate projected benefit obligations	139			112			81			67			220			179
Under funded	$	(6	)	$	(9	)	$	(81	)	$	(67	)	$	(87	)	$	(76	)

(1)

For non-qualified plans, there are no required funding levels.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]



	December 31,
	Pension Benefits				Other Benefits
	2019		2018		2019			2018
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss	$	59	$	49	$	39		$	26
Net prior service cost (credit)	—		—		(9		)	(10		)
Total	$	59	$	49	$	30		$	16

Schedule Of Projected Benefit Obligations In Excess Of Fair Value Of Plan Assets [Table Text Block]

The following table presents information for qualified and non-qualified pension plans with a projected benefit obligation in excess of plan assets as of December 31, 2019 and 2018 (dollars in millions):



	2019		2018
Projected benefit obligation	$	220	$	179
Fair value of plan assets	133		103

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

The following table presents information for pension plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2019 and 2018 (dollars in millions):



	2019		2018
Accumulated benefit obligation	$	212	$	174
Fair value of plan assets	133		103

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The components of net periodic benefit cost, included in other operating expenses on the consolidated statements of income, and other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows (dollars in millions):



	Pension Benefits									Other Benefits
	2019			2018			2017			2019			2018			2017
Net periodic benefit cost:
Service cost	$	13		$	13		$	11		$	3		$	3		$	2
Interest cost	7			5			5			3			2			2
Expected return on plan assets	(7		)	(8		)	(6		)	—			—			—
Amortization of net actuarial losses	4			4			4			1			2			2
Amortization of prior service cost (credit)	—			—			—			(1		)	(1		)	(1		)
Settlements	—			—			5			—			—			—
Net periodic benefit cost	17			14			19			6			6			5


Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gains) losses	14			13			2			14			(7		)	6
Amortization of net actuarial (losses)	(4		)	(4		)	(4		)	(1		)	(2		)	(2		)
Amortization of prior service (cost) credit	—			—			—			1			1			1
Settlements	—			—			(5		)	—			—			—
Foreign exchange translations and other adjustments	—			—			1			—			—			—
Total recognized in other comprehensive income	10			9			(6		)	14			(8		)	5
Total recognized in net periodic benefit cost and other comprehensive income	$	27		$	23		$	13		$	20		$	(2	)	$	10

Schedule of Expected Benefit Payments [Table Text Block]

The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (dollars in millions):



	Pension Benefits		Other Benefits
2020	$	11	$	2
2021	11		2
2022	13		2
2023	13		3
2024	14		3
2025-2029	83		21

Defined Benefit Plan, Assumptions [Table Text Block]

Weighted average assumptions used to determine the accumulated benefit obligation and net benefit cost or income were as follows:



	Pension Benefits						Other Benefits
	2019		2018		2017		2019		2018		2017
Discount rate used to determine benefit obligation	3.05	%	4.02	%	3.40	%	3.17	%	4.17	%	3.56	%
Discount rate used to determine net benefit cost or income	4.03	%	3.41	%	3.81	%	4.17	%	3.56	%	4.10	%
Expected long-term rate of return on plan assets	7.00	%	7.35	%	7.35	%	—	%	—	%	—	%
Rate of compensation increases	4.61	%	4.17	%	4.16	%	—	%	—	%	—	%

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

The assumed health care cost trend rates used in measuring the accumulated non-pension post-retirement benefit obligation were as follows:



	December 31,
	2019	2018
Pre-Medicare eligible claims	8% down to 4.5% in 2026	8% down to 5% in 2024
Medicare eligible claims	8% down to 4.5% in 2026	8% down to 5% in 2024

Schedule of Allocation of Plan Assets [Table Text Block]

The fair values of the Company’s qualified pension plan assets as of December 31, 2019 and 2018 are summarized below (dollars in millions):



	December 31, 2019
			Fair Value Measurement Using:
	Total		Level 1		Level 2		Level 3
Mutual Funds⁽¹⁾	$	133	$	133	$	—	$	—
Cash	—		—		—		—
Total	$	133	$	133	$	—	$	—


(1)	Mutual funds were invested 27% in U.S. equity funds, 39% in U.S. fixed income funds, 18% in non-U.S. equity funds and 16% in other.



	December 31, 2018
			Fair Value Measurement Using:
	Total		Level 1		Level 2		Level 3
Mutual Funds⁽²⁾	$	103	$	103	$	—	$	—
Cash	—		—		—		—
Total	$	103	$	103	$	—	$	—

(2)

Mutual funds were invested 25% in U.S. equity funds, 42% in U.S. fixed income funds, 17% in non-U.S. equity funds and 16% in other.

Equity Based Compensation (Disclosure of Share-based Compensation Shares Authorized under Stock Option Plans by Exercise Price Range) (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding \| shares	2,031,797
Options Outstanding, Weighted-Average Remaining Contractual Life	5 years 2 months 12 days
Options Outstanding, Weighted Average Exercise Price	$ 92.63
Options Exercisable \| shares	1,514,959
Options Exercisable, Weighted-Average Exercise Price	$ 83.58
$0.00 - $49.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding \| shares	23,764
Options Outstanding, Weighted-Average Remaining Contractual Life	1 month 6 days
Options Outstanding, Weighted Average Exercise Price	$ 47.10
Options Exercisable \| shares	23,764
Options Exercisable, Weighted-Average Exercise Price	$ 47.10
Exercise Price Range, Lower Range Limit	0
Exercise Price Range, Upper Range Limit	$ 49.99
$50.00 - $59.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding \| shares	634,157
Options Outstanding, Weighted-Average Remaining Contractual Life	2 years 6 months
Options Outstanding, Weighted Average Exercise Price	$ 58.28
Options Exercisable \| shares	634,157
Options Exercisable, Weighted-Average Exercise Price	$ 58.28
Exercise Price Range, Lower Range Limit	50
Exercise Price Range, Upper Range Limit	$ 59.99
$60.00 - $69.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding \| shares	839
Options Outstanding, Weighted-Average Remaining Contractual Life	3 years 2 months 12 days
Options Outstanding, Weighted Average Exercise Price	$ 60.24
Options Exercisable \| shares	839
Options Exercisable, Weighted-Average Exercise Price	$ 60.24
Exercise Price Range, Lower Range Limit	60
Exercise Price Range, Upper Range Limit	$ 69.99
$70.00 - $79.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding \| shares	149,248
Options Outstanding, Weighted-Average Remaining Contractual Life	4 years 2 months 12 days
Options Outstanding, Weighted Average Exercise Price	$ 78.48
Options Exercisable \| shares	149,248
Options Exercisable, Weighted-Average Exercise Price	$ 78.48
Exercise Price Range, Lower Range Limit	70
Exercise Price Range, Upper Range Limit	$ 79.99
$90.00 plus [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding \| shares	1,223,789
Options Outstanding, Weighted-Average Remaining Contractual Life	6 years 9 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 113.05
Options Exercisable \| shares	706,951
Options Exercisable, Weighted-Average Exercise Price	$ 108.61
Exercise Price Range, Lower Range Limit	$ 90

Investments (Investments in Fixed Maturity and Equity Securities Available-for-Sale by Sector) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 29,205	$ 24,006
Available-for-sale Securities	31,393	23,982
Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	46,753	38,882
Available-for-sale Securities, Gross Unrealized Gains	4,478	1,858
Available-for-sale Securities, Gross Unrealized Losses	110	748
Available-for-sale Securities	$ 51,121	$ 39,992
Percentage Of Total Available For Sale Securities	100.00%	100.00%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
Corporate Debt Securities [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	29,205	24,006
Available-for-sale Securities, Gross Unrealized Gains	2,269	531
Available-for-sale Securities, Gross Unrealized Losses	81	555
Available-for-sale Securities	$ 31,393	$ 23,982
Percentage Of Total Available For Sale Securities	61.40%	59.90%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
Canadian Provincial Governments [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	3,016	2,768
Available-for-sale Securities, Gross Unrealized Gains	1,596	1,126
Available-for-sale Securities, Gross Unrealized Losses	0	2
Available-for-sale Securities	$ 4,612	$ 3,892
Percentage Of Total Available For Sale Securities	9.00%	9.70%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
Residential Mortgage Backed Securities [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	2,339	1,872
Available-for-sale Securities, Gross Unrealized Gains	62	22
Available-for-sale Securities, Gross Unrealized Losses	3	25
Available-for-sale Securities	$ 2,398	$ 1,869
Percentage Of Total Available For Sale Securities	4.70%	4.70%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
Asset-backed Securities [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	2,973	2,172
Available-for-sale Securities, Gross Unrealized Gains	19	11
Available-for-sale Securities, Gross Unrealized Losses	14	33
Available-for-sale Securities	$ 2,978	$ 2,150
Percentage Of Total Available For Sale Securities	5.80%	5.40%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
Commercial Mortgage Backed Securities [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	1,841	1,428
Available-for-sale Securities, Gross Unrealized Gains	61	9
Available-for-sale Securities, Gross Unrealized Losses	3	18
Available-for-sale Securities	$ 1,899	$ 1,419
Percentage Of Total Available For Sale Securities	3.70%	3.50%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
US Treasury and Government [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	2,096	2,234
Available-for-sale Securities, Gross Unrealized Gains	57	10
Available-for-sale Securities, Gross Unrealized Losses	1	58
Available-for-sale Securities	$ 2,152	$ 2,186
Percentage Of Total Available For Sale Securities	4.20%	5.50%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
US States and Political Subdivisions Debt Securities [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	1,074	721
Available-for-sale Securities, Gross Unrealized Gains	93	40
Available-for-sale Securities, Gross Unrealized Losses	3	9
Available-for-sale Securities	$ 1,164	$ 752
Percentage Of Total Available For Sale Securities	2.30%	1.90%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0
Debt Security, Government, Non-US [Member] \| Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	4,209	3,681
Available-for-sale Securities, Gross Unrealized Gains	321	109
Available-for-sale Securities, Gross Unrealized Losses	5	48
Available-for-sale Securities	$ 4,525	$ 3,742
Percentage Of Total Available For Sale Securities	8.90%	9.40%
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 0	$ 0

Equity (Balance of and Changes in Each Component of AOCI) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

Balance, beginning of year

$ 636

$ 2,064

$ 1,139

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

3,358

(1,926)

1,062

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

(178)

153

(29)

Other Comprehensive Income (Loss), Tax

(679)

349

(265)

Balance, end of year

3,137

636

2,064

Accumulated Translation Adjustment [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

Balance, beginning of year

(169)

(86)

(172)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

(60)

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

Other Comprehensive Income (Loss), Tax

(3)

(19)

Balance, end of year

(92)

(169)

(86)

Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

Balance, beginning of year

^[1]

856

2,201

1,355

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

^[1]

3,306

(1,861)

1,039

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

^[1]

182

(148)

Other Comprehensive Income (Loss), Tax

^[1]

(681)

368

(307)

Balance, end of year

^[1]

3,299

856

2,201

Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

Balance, beginning of year

(51)

(44)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

(28)

(5)

(4)

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

(4)

(5)

Other Comprehensive Income (Loss), Tax

Balance, end of year

(70)

(51)

Accounting Standards Update 2018-02 [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

(3)

Accounting Standards Update 2018-02 [Member] | Accumulated Translation Adjustment [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

(4)

Accounting Standards Update 2018-02 [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

^[1]

148

Accounting Standards Update 2018-02 [Member] | Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

(8)

Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

$ (4)

$ 157

[1]	Includes cash flow hedges of $(26), $9 and $3 as of December 31, 2019, 2018 and 2017, respectively. See Note 5 for additional information on cash flow hedges.

Equity Based Compensation (Weighted Average Assumptions) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.65%	1.33%	1.26%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.67%	2.79%	2.32%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	18.20%	21.40%	22.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years	7 years	7 years
Options, Grants in Period, Weighted Average Exercise Price	$ 145.25	$ 150.87	$ 129.72
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 26.59	$ 36.31	$ 31.57

Commitments Contingencies and Guarantees

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

COMMITMENTS, CONTINGENCIES AND GUARANTEES

Commitments

Funding of Investments

The Company’s commitments to fund investments as of December 31, 2019 and 2018 are presented in the following table (dollars in millions):



	2019		2018
Limited partnership interests and joint ventures	$	685	$	524
Commercial mortgage loans	243		23
Bank loans and private placements	181		137
Lifetime mortgages	87		265

The Company anticipates that the majority of its current commitments will be invested over the next five years; however, these commitments could become due any time at the request of the counterparties. Bank loans and private placements are included in fixed maturity securities available-for-sale.

Off-Balance Sheet Arrangements

In 2013, the Company executed a series of incentive agreements with the County of St. Louis, Missouri (the “County”). Under these agreements, the Company transferred ownership in its newly constructed world headquarters to the County in exchange for taxable industrial revenue bonds (the “bonds”), in a series of bond issuances during 2013 and 2014, with a maximum amount of $150 million. As a result, the Company was able to reduce the cost of constructing and operating its world headquarters by reducing certain state and local tax expenditures. The Company simultaneously leased the world headquarters from the County and has an option to purchase the world headquarters for a nominal fee upon tendering the bonds back to the County. The payments due to the Company under the terms of the bonds and the amounts owed by the Company under the terms of the lease agreement qualify for the right of offset under GAAP. As such, neither the bonds nor the lease obligation is recorded on the consolidated balance sheets as an asset or liability, respectively. The world headquarters is recorded as an asset of the Company in “Other assets” on the consolidated balance sheets.

Contingencies

Litigation

The Company is subject to litigation in the normal course of its business; however, the Company currently has no material litigation. A legal reserve is established when the Company is notified of an arbitration demand or litigation or is notified that an arbitration demand or litigation is imminent, it is probable that the Company will incur a loss as a result and the amount of the probable loss is reasonably capable of being estimated.

Other Contingencies

The Company indemnifies its directors and officers as provided in its charters and by-laws. Since this indemnity generally is not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount due under this indemnity in the future.

Guarantees

Statutory Reserve and Solvency Support

The Company has committed to provide statutory reserve support to third-parties, in exchange for a fee, by funding loans if certain defined events occur. Such statutory reserves are required under the U.S. Valuation of Life Policies Model Regulation (commonly referred to as Regulation XXX for term life insurance policies and Regulation A-XXX for universal life secondary guarantees). In addition, RGA has also committed to provide capital support to a third-party, in exchange for a fee, by agreeing to assume real estate leases in the event of a severe and prolonged decline in the commercial lease market. Upon assumption of a lease, RGA would recognize a right to use asset and lease obligation. As of December 31, 2019, the Company does not believe that it will be required to provide any funding under these commitments as the occurrence of the defined events is considered remote. The following table presents the maximum potential obligation for these commitments as of December 31, 2019 (dollars in millions):



Commitment Period	Maximum Potential Obligation
2035	$	2,654
2036	3,408
2037	5,750
2038	1,800
2039	5,750

Other Guarantees

RGA has issued guarantees to third parties on behalf of its subsidiaries for the payment of amounts due under certain reinsurance treaties, securities borrowing and repurchase arrangements, financing arrangements and office lease obligations, whereby if a subsidiary fails to meet an obligation, RGA or one of its other subsidiaries will make a payment to fulfill the obligation. In limited circumstances, treaty guarantees are granted to ceding companies in order to provide them additional security, particularly in cases where RGA’s subsidiary is relatively new, unrated, or not of a significant size, relative to the ceding company. Liabilities supported by the treaty guarantees, before consideration for any legally offsetting amounts due from the guaranteed party are reflected on the Company’s consolidated balance sheets in a policy related liability. Potential guaranteed amounts of future payments will vary depending on production levels and underwriting results. Guarantees related to securities borrowing and repurchase arrangements provide additional security to third parties should a subsidiary fail to provide securities when due. RGA’s guarantees issued as of December 31, 2019 and 2018 are reflected in the following table (dollars in millions):



	2019		2018
Treaty guarantees	$	1,821	$	1,392
Treaty guarantees, net of assets in trust	891		1,291
Securities borrowing and repurchase arrangements	275		270
Financing arrangements	42		61

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]



For the years ended December 31,	2019		2018		2017
Revenues:
U.S. and Latin America:
Traditional	$	6,500	$	6,296	$	6,100
Financial Solutions	1,279		907		1,151
Total	7,779		7,203		7,251
Canada:
Traditional	1,286		1,224		1,103
Financial Solutions	99		49		49
Total	1,385		1,273		1,152
Europe, Middle East and Africa:
Traditional	1,520		1,495		1,362
Financial Solutions	450		350		311
Total	1,970		1,845		1,673
Asia Pacific:
Traditional	2,681		2,417		2,210
Financial Solutions	228		54		74
Total	2,909		2,471		2,284
Corporate and Other	257		84		156
Total	$	14,300	$	12,876	$	12,516

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]



For the years ended December 31,	2019			2018			2017
Income (loss) before income taxes:
U.S. and Latin America:
Traditional	$	265		$	286		$	373
Financial Solutions	398			251			402
Total	663			537			775
Canada:
Traditional	168			112			120
Financial Solutions	15			10			17
Total	183			122			137
Europe, Middle East and Africa:
Traditional	80			55			70
Financial Solutions	223			197			124
Total	303			252			194
Asia Pacific:
Traditional	105			178			149
Financial Solutions	23			(6		)	13
Total	128			172			162
Corporate and Other	(145		)	(237		)	(125		)
Total	$	1,132		$	846		$	1,143

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]



For the years ended December 31,	2019		2018		2017
Interest expense:
Corporate and Other	$	173	$	147	$	146
Total	$	173	$	147	$	146



For the years ended December 31,	2019		2018		2017
Depreciation and amortization:
U.S. and Latin America:
Traditional	$	291	$	273	$	285
Financial Solutions	143		95		209
Total	434		368		494
Canada:
Traditional	20		22		24
Financial Solutions	—		—		—
Total	20		22		24
Europe, Middle East and Africa:
Traditional	56		45		35
Financial Solutions	1		—		—
Total	57		45		35
Asia Pacific:
Traditional	60		115		114
Financial Solutions	16		2		1
Total	76		117		115
Corporate and Other	22		22		38
Total	$	609	$	574	$	706

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

The table above includes amortization of DAC, including the effect from investment related gains and losses.



For the years ended December 31,	2019		2018
Assets:
U.S. and Latin America:
Traditional	$	19,353	$	19,236
Financial Solutions	25,117		19,870
Total	44,470		39,106
Canada:
Traditional	4,361		4,201
Financial Solutions	64		154
Total	4,425		4,355
Europe, Middle East and Africa:
Traditional	4,032		3,643
Financial Solutions	6,502		4,738
Total	10,534		8,381
Asia Pacific:
Traditional	6,800		5,681
Financial Solutions	2,557		1,181
Total	9,357		6,862
Corporate and Other	7,945		5,831
Total	$	76,731	$	64,535

Summary of Investments Other Than Investments in Related Parties (Tables)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]

Summary Of Investments Other Than Investments In Related Parties [Table Text Block]

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE I-SUMMARY OF INVESTMENTS-OTHER THAN

INVESTMENTS IN RELATED PARTIES

December 31, 2019

(in millions)



Type of Investment	Amortized Cost		Estimated Fair Value		Amount at Which Shown in the Balance Sheets⁽¹⁾
Fixed maturity securities:
United States government and government agencies and authorities	$	2,096	$	2,152	$	2,152
State and political subdivisions	1,074		1,164		1,164
Foreign governments⁽²⁾	7,225		9,137		9,137
Public utilities	3,617		3,937		3,937
Mortgage-backed and asset-backed securities	7,153		7,275		7,275
All other corporate bonds	25,588		27,456		27,456
Total fixed maturity securities	$	46,753	$	51,121	$	51,121

Equity securities	$	332	$	320	$	320
Mortgage loans on real estate	5,706				5,706
Policy loans	1,319				1,319
Funds withheld at interest	5,662				5,662
Short-term investments	64				64
Other invested assets	2,363				2,363
Total investments	$	62,199			$	66,555


(1)	Fixed maturity securities are classified as available-for-sale and carried at fair value.

(2)

Includes fixed maturities directly issued by foreign governments, supranational and foreign government-sponsored enterprises.

Debt (Schedule of Line of Credit Facilities) (Details) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 880

Syndicated Credit Facility $850 Million [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Expiration Date

Aug. 31, 2023

Line of Credit Facility, Maximum Borrowing Capacity

$ 850

Long-term Line of Credit

^[1]

$ 20

$ 18

Line of Credit Facility, Interest Rate Description

Senior unsecured long-term debt rating

Credit Facility $100 Million 2022 [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Expiration Date

Mar. 31, 2022

Line of Credit Facility, Maximum Borrowing Capacity

100

Long-term Line of Credit

^[1]

$ 99

Line of Credit Facility, Interest Rate Description

Fixed

Credit Facility 100 Million [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Expiration Date

May 30, 2023

Line of Credit Facility, Maximum Borrowing Capacity

$ 100

Long-term Line of Credit

^[1]

$ 61

Line of Credit Facility, Interest Rate Description

Fixed

Syndicated Credit Facility $75 Million [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Expiration Date

Jun. 30, 2021

Line of Credit Facility, Maximum Borrowing Capacity

Long-term Line of Credit

^[1]

$ 15

Line of Credit Facility, Interest Rate Description

Fixed

Foreign Line of Credit [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Expiration Date

^[2]

Dec. 31, 2021

Line of Credit Facility, Maximum Borrowing Capacity

$ 105

Long-term Line of Credit

^[1],[2]

$ 105

106

Line of Credit Facility, Interest Rate Description

Fixed

Syndicated Credit Facility $500 Million [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Expiration Date

May 31, 2022

Line of Credit Facility, Maximum Borrowing Capacity

$ 500

Long-term Line of Credit

^[1]

$ 375

$ 395

Line of Credit Facility, Interest Rate Description

Debt rating and utilization %

[1]	Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.
[2]	Foreign currency denominated facility, amounts presented are in U.S. dollars.

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Cumulative Foreign Currency Translation Gain Loss Recorded In Accumulated Other Comprehensive Income Loss For Net Investment In Foreign Operations Hedges	$ 168	$ 201

Equity Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Document Period End Date	Dec. 31, 2019
Options, Exercises in Period, Total Intrinsic Value	$ 31.0	$ 26.0	$ 42.0
Performance Contingent Unit Share Payout	1.35	1.07
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	10 months 24 days
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 16.6
Share-based Payment Arrangement, Expense	$ 39.0	$ 30.0	$ 22.0
Options, Grants in Period, Weighted Average Exercise Price	$ 145.25	$ 150.87	$ 129.72
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	322,673
Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	192,845
Options, Grants in Period, Weighted Average Exercise Price	$ 145.25
Flexible Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Of Shares Available For Grant	14,960,077
Flexible Stock Plan For Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Of Shares Available For Grant	412,500
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	248,789	170,080
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	120,403
Options, Grants in Period, Weighted Average Exercise Price	$ 145.25
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	26,442
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	23,322
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	5 years

Condensed Financial Information of The Registrant (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Statements [Table Text Block]



	2019			2018			2017
CONDENSED BALANCE SHEETS
Assets:
Fixed maturity securities available-for-sale, at fair value	$	525		$	595
Short-term and other investments	19			43
Cash and cash equivalents	10			21
Investment in subsidiaries	14,486			11,033
Loans to subsidiaries	1,010			1,010
Other assets	270			240
Total assets	$	16,320		$	12,942
Liabilities and stockholders’ equity:
Long-term debt - unaffiliated⁽¹⁾	$	2,974		$	2,778
Long-term debt - affiliated⁽²⁾	500			500
Other liabilities	1,244			1,213
Stockholders’ equity	11,602			8,451
Total liabilities and stockholders’ equity	$	16,320		$	12,942
CONDENSED STATEMENTS OF INCOME
Interest / dividend income⁽³⁾	$	308		$	576		$	131
Investment related gains (losses), net	4			(5		)	(5		)
Operating expenses	(55		)	(36		)	(21		)
Interest expense	(206		)	(181		)	(177		)
Income (loss) before income tax and undistributed earnings of subsidiaries	51			354			(72		)
Income tax expense (benefit)	(33		)	(37		)	66
Net income (loss) before undistributed earnings of subsidiaries	84			391			(138		)
Equity in undistributed earnings of subsidiaries	786			325			1,960
Net income	870			716			1,822
Other comprehensive income (loss)	(33		)	21			(8		)
Total comprehensive income	$	837		$	737		$	1,814

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:



	2019			2018
$400 million 6.45% Senior Notes due 2019	$	—		$	400
$400 million 5.00% Senior Notes due 2021	400			399
$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			—
$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			399
Subtotal	2,996			2,797
Unamortized debt issue costs	(22		)	(19		)
Total	$	2,974		$	2,778


(2)	Long-term debt—affiliated in 2019 and 2018 consists of $500 million of subordinated debt issued to various operating subsidiaries.


(3)	Interest/dividend income includes $175 million and $450 million of cash dividends received from consolidated subsidiaries in 2019 and 2018, respectively.

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT (continued)

December 31,

(in millions)



	2019			2018			2017
CONDENSED STATEMENTS OF CASH FLOWS
Operating activities:
Net income	$	870		$	716		$	1,822
Equity in earnings of subsidiaries	(786		)	(325		)	(1,960		)
Other, net	72			37			58
Net cash (used in) provided by operating activities	156			428			(80		)
Investing activities:
Sales of fixed maturity securities available-for-sale	576			482			515
Purchases of fixed maturity securities available-for-sale	(494		)	(383		)	(75		)
Repayments/issuances of loans to subsidiaries	—			—			40
Change in short-term investments	—			—			—
Change in other invested assets	—			—			125
Capital contributions to subsidiaries	(96		)	(82		)	(63		)
Net cash (used in) provided by investing activities	(14		)	17			542
Financing activities:
Dividends to stockholders	(163		)	(140		)	(117		)
Purchases of treasury stock	(101		)	(300		)	(44		)
Exercise of stock options, net	6			3			7
Net change in cash collateral for loaned securities	(92		)	(2		)	(37		)
Principal payments on debt	(397		)	—			(300		)
Proceeds from unaffiliated long-term debt issuance	599			—			—
Debt issuance costs	(5		)	—			—
Net cash (used in) provided by financing activities	(153		)	(439		)	(491		)
Net change in cash and cash equivalents	(11		)	6			(29		)
Cash and cash equivalents at beginning of year	21			15			44
Cash and cash equivalents at end of year	$	10		$	21		$	15
Supplementary information:
Cash paid for interest	$	192		$	176		$	186
Cash paid for income taxes, net of refunds	$	9		$	93		$	8

Commitments Contingencies and Guarantees (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]

The Company’s commitments to fund investments as of December 31, 2019 and 2018 are presented in the following table (dollars in millions):



	2019		2018
Limited partnership interests and joint ventures	$	685	$	524
Commercial mortgage loans	243		23
Bank loans and private placements	181		137
Lifetime mortgages	87		265

Other Commitments [Table Text Block]

The following table presents the maximum potential obligation for these commitments as of December 31, 2019 (dollars in millions):



Commitment Period	Maximum Potential Obligation
2035	$	2,654
2036	3,408
2037	5,750
2038	1,800
2039	5,750

Schedule of Guarantor Obligations [Table Text Block]

RGA’s guarantees issued as of December 31, 2019 and 2018 are reflected in the following table (dollars in millions):



	2019		2018
Treaty guarantees	$	1,821	$	1,392
Treaty guarantees, net of assets in trust	891		1,291
Securities borrowing and repurchase arrangements	275		270
Financing arrangements	42		61

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Intangible Assets) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization Of Values Of Business Acquired Distribution Agreements And Customer Relationships	$ 88	$ 80
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	8
Finite-Lived Intangible Assets, Amortization Expense, Year Two	7
Finite-Lived Intangible Assets, Amortization Expense, Year Three	6
Finite-Lived Intangible Assets, Amortization Expense, Year Four	6
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 6
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Finite-lived Intangible Assets Acquired	$ 34	37
Accumulated Amortization Of Values Of Business Acquired Distribution Agreements And Customer Relationships	8	4
Amortization of Intangible Assets	4	$ 4	$ 1
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	4
Finite-Lived Intangible Assets, Amortization Expense, Year Two	4
Finite-Lived Intangible Assets, Amortization Expense, Year Three	4
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 4

Investments (Fair Value Below Amortized Cost of Gross Unrealized Losses for Fixed Maturity and Equity Securities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Gross unrealized losses with number of securities [Line Items]
Available-for-sale Securities, Gross Unrealized Losses	$ 110	$ 748
Percentage Of Total Gross Unrealized Losses	100.00%	100.00%
Less Than 20 Percent [Member]
Gross unrealized losses with number of securities [Line Items]
Available-for-sale Securities, Gross Unrealized Losses	$ 76	$ 721
Percentage Of Total Gross Unrealized Losses	69.10%	96.40%
More Than Or Equal To 20 Percent For Less Than Six Months [Member]
Gross unrealized losses with number of securities [Line Items]
Available-for-sale Securities, Gross Unrealized Losses	$ 20	$ 21
Percentage Of Total Gross Unrealized Losses	18.20%	2.80%
More Than Or Equal To 20 Percent For Six Months Or Greater [Member]
Gross unrealized losses with number of securities [Line Items]
Available-for-sale Securities, Gross Unrealized Losses	$ 14	$ 6
Percentage Of Total Gross Unrealized Losses	12.70%	0.80%

Reinsurance (Effect of Reinsurance on Life Insurance In Force) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reinsurance Disclosures [Abstract]
Reinsurance Premiums for Insurance Companies, by Product Segment, Gross Amount	$ 1,316	$ 1,363	$ 1,462
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Assumed from Other Companies	3,480,206	3,329,181	3,297,275
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	192,864	186,172	205,529
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 3,288,658	$ 3,144,372	$ 3,093,208
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	105.80%	105.90%	106.60%

Policy Claims and Benefits Policy Claims and Benefits (Schedule of Historical Claims Duration) (Details) - Life Insurance Product Line [Member]	Dec. 31, 2019
Americas [Member]
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	35.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two	42.20%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three	8.60%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four	2.90%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five	1.90%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six	1.70%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven	1.40%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight	1.30%
Asia Pacific [Member]
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	15.20%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two	28.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three	16.30%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four	10.40%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five	7.40%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six	5.50%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven	4.20%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight	3.00%

Reinsurance

12 Months Ended

Dec. 31, 2019

Reinsurance Disclosures [Abstract]

Reinsurance

REINSURANCE

In the normal course of business, the Company seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding reinsurance to other insurance or reinsurance companies under excess coverage and coinsurance contracts. In the individual life markets, the Company retains a maximum of $8 million of coverage per individual life. Claims in excess of this retention amount are retroceded to retrocessionaires; however, the Company remains fully liable to the ceding company for the entire amount of risk it assumes. In certain limited situations the Company has retained more than $8 million per individual policy. The Company enters into agreements with other reinsurers to mitigate the residual risk related to the over-retained policies. Additionally, due to some lower face amount reinsurance coverage provided by the Company in addition to individual life, such as group life, disability and health, under certain circumstances, the Company could potentially incur net claims totaling more than $8 million per individual life.

Retrocession reinsurance treaties do not relieve the Company from its obligations to direct writing companies. Failure of retrocessionaires to honor their obligations could result in losses to the Company. The Company regularly evaluates the financial condition of the insurance and reinsurance companies from which it assumes and to which it cedes reinsurance. Consequently, allowances would be established for amounts deemed uncollectible. At December 31, 2019 and 2018, no allowances were deemed necessary.

Retrocessions are arranged through the Company’s retrocession pools for amounts in excess of the Company’s retention limit. As of December 31, 2019, all rated retrocession pool participants followed by the A.M. Best Company were rated “A- (excellent)” or better. The Company verifies retrocession pool participants’ ratings on a quarterly basis. For a majority of the retrocessionaires that were not rated, security in the form of letters of credit or trust assets has been posted. In addition, the Company performs annual financial reviews of its retrocessionaires to evaluate financial stability and performance. In addition to its third party retrocessionaires, various RGA reinsurance subsidiaries retrocede amounts in excess of their retention to affiliated subsidiaries.

The following table presents information for the Company’s ceded reinsurance receivable assets, including the respective amount and A.M. Best rating for each reinsurer representing in excess of five percent of the total as of December 31, 2019 or 2018 (dollars in millions):



		2019				2018
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Reinsurer A	A+	$	367	40.6	%	$	303	40.0	%
Reinsurer B	A+	208		23.0		193		25.5
Reinsurer C	A	84		9.3		70		9.2
Reinsurer D	A++	53		5.9		37		4.8
Reinsurer E	A+	43		4.8		40		5.3
Other reinsurers		149		16.4		115		15.2
Total		$	904	100.0	%	$	758	100.0	%

Included in the total ceded reinsurance receivables balance were $223 million and $243 million of claims recoverable, of which $15 million and $17 million were in excess of 90 days past due, as of December 31, 2019 and 2018, respectively.

The effect of reinsurance on net premiums is as follows (dollars in millions):



Years ended December 31,	2019			2018			2017
Direct insurance	$	76		$	63		$	62
Reinsurance assumed	12,150			11,341			10,642
Reinsurance ceded	(929		)	(860		)	(863		)
Net premiums	$	11,297		$	10,544		$	9,841

The effect of reinsurance on claims and other policy benefits as follows (dollars in millions):



Years ended December 31,	2019			2018			2017
Direct insurance	$	113		$	107		$	104
Reinsurance assumed	11,404			9,997			9,282
Reinsurance ceded	(1,320		)	(785		)	(867		)
Net claims and other policy benefits	$	10,197		$	9,319		$	8,519

The effect of reinsurance on life insurance in force is shown in the following schedule (dollars in millions):



	Direct		Assumed		Ceded		Net		Assumed/Net %
December 31, 2019	$	1,316	$	3,480,206	$	192,864	$	3,288,658	105.8	%
December 31, 2018	1,363		3,329,181		186,172		3,144,372		105.9
December 31, 2017	1,462		3,297,275		205,529		3,093,208		106.6

At December 31, 2019 and 2018, respectively, the Company provided approximately $22.7 billion and $18.1 billion of financial reinsurance, as measured by pre-tax statutory surplus, risk based capital and other financial reinsurance structures, to other insurance companies under financial reinsurance or capital solutions transactions to assist ceding companies in meeting applicable regulatory requirements. Generally, such financial reinsurance is provided by the Company committing cash or assuming insurance liabilities, which are collateralized by future profits on the reinsured business. The Company earns a fee based on the amount of net outstanding financial reinsurance.

Reinsurance treaties, whether facultative or automatic, may provide for recapture rights on the part of the ceding company. Recapture rights permit the ceding company to reassume all or a portion of the risk formerly ceded to the reinsurer after an agreed-upon period of time, generally 10 years, or in some cases due to changes in the financial condition or ratings of the reinsurer. Recapture of business previously ceded does not affect premiums ceded prior to the recapture of such business but would reduce premiums in subsequent periods. Additionally, some reinsurance treaties give the ceding company the right to require the Company to place assets in trust for their benefit to support the ceding company’s statutory reserve credits, in the event of a downgrade of the Company’s credit ratings and or other statutory measure to specified levels, generally non-investment grade levels, or if minimum levels of financial condition are not maintained. As of December 31, 2019, neither the Company nor its subsidiaries have been required to post additional collateral or have had a reinsurance treaty recaptured as a result of credit downgrade or defined statutory measure decline.

Certain reinsurance treaties require the reinsurer to place assets in trust to collateralize the reinsurer’s obligation to the ceding company. Assets placed in trust continue to be owned by the Company, but their use is restricted based on the terms of the trust agreement. Securities with an amortized cost of $3.3 billion and $2.9 billion were held in trust for the benefit of the Company’s

subsidiaries to satisfy collateral requirements for reinsurance business at December 31, 2019 and 2018, respectively. Additionally, securities with an amortized cost of $27.3 billion and $20.1 billion as of December 31, 2019 and 2018, respectively, were held in trust to satisfy collateral requirements under certain third-party reinsurance treaties. Under certain conditions, the Company may be obligated to move reinsurance from one subsidiary to another subsidiary, post additional collateral or make payments under a given reinsurance treaty. These conditions include change in control or ratings of the subsidiary, insolvency, nonperformance under a reinsurance treaty, or loss of license or other regulatory authorization of such subsidiary. If the Company was ever required to move reinsurance from one subsidiary to another subsidiary, the risk to the Company on a consolidated basis under the reinsurance treaties would not change; however, additional collateral may need to be posted or additional capital may be required due to the change in jurisdiction of the subsidiary reinsuring the business, which could lead to a strain on liquidity.

Investments (Loan Valuation Allowance for Mortgage Loans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for Loan and Lease Losses [Roll Forward]
Balance beginning	$ 11	$ 9	$ 8
Provision	1	2	1
Balance ending	$ 12	$ 11	$ 9

Income Tax (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Tax (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	$ 28
Foreign Currency Translation Adjustment On Valuation Allowance		$ 13
Cash paid for income taxes	66	144	$ 49
Tax Adjustments, Settlements, and Unusual Provisions	0	(62)	(1,034)
Deferred Tax Assets, Valuation Allowance	236	181
Proceeds from Income Tax Refunds	22	2	12
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability	1,642	1,364
Tax Credit Carryforward, Valuation Allowance		65
Subsidiary Net Operating Loss	44	25
Operating Loss Carryforwards	1,312
Unrecognized Tax Benefits	333	325	321	$ 297
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	21
Unrecognized Tax Benefits, Interest on Income Taxes Expense	12	(3)	$ (5)
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	$ 23	$ 12

Income Tax (Pre-tax Income Foreign and Domestic) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income (Loss) from Continuing Operations before Income Taxes, Domestic									$ 871	$ 626	$ 871
Income (Loss) from Continuing Operations before Income Taxes, Foreign									261	220	272
Income before income taxes	$ 308	$ 347	$ 260	$ 217	$ 138	$ 323	$ 247	$ 138	$ 1,132	$ 846	$ 1,143

Employee Benefit Plans (Schedule of Assumptions Used Calculating Benefit Obligations) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Assumptions Used in Calculations [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.05%	4.02%	3.40%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	4.03%	3.41%	3.81%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	7.00%	7.35%	7.35%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase	4.61%	4.17%	4.16%
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Assumptions Used in Calculations [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.17%	4.17%	3.56%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	4.17%	3.56%	4.10%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	0.00%	0.00%	0.00%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase	0.00%	0.00%	0.00%

Debt (Narrative) (Details) - USD ($)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Jun. 30, 2006

Debt Instrument [Line Items]

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

$ 22,000,000

$ 19,000,000

Undrawn Outstanding Letters Of Credit In Favor Of Third Parties

62,000,000

106,000,000

Undrawn Outstanding Letters Of Credit Between Subsidiaries

1,224,000,000

$ 1,357,000,000

Debt Instrument, Face Amount

$ 850,000,000

Line of Credit Facility, Maximum Borrowing Capacity

$ 880,000,000

Debt, Weighted Average Interest Rate

4.82%

5.24%

Long-term Debt, Gross

$ 3,003,000,000

$ 2,807,000,000

Long-term debt

2,981,000,000

2,788,000,000

Long-term Debt, Maturities, Repayments of Principal in Year Four

403,000,000

Line of Credit Facility, Commitment Fee Amount

$ 8,000,000

10,000,000

$ 11,000,000

Senior Notes Due 2026 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.95%

Debt Instrument, Maturity Date

Dec. 31, 2026

Debt Instrument, Face Amount

$ 400,000,000

Long-term Debt, Gross

$ 400,000,000

400,000,000

Subordinated Debentures Due 2056 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.75%

Debt Instrument, Maturity Date

Dec. 31, 2056

Debt Instrument, Face Amount

$ 400,000,000

Long-term Debt, Gross

$ 400,000,000

400,000,000

Junior Subordinated Debentures Due 2065 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.82%

Debt Instrument, Maturity Date

Dec. 31, 2065

Debt Instrument, Face Amount

$ 400,000,000

Long-term Debt, Gross

$ 319,000,000

319,000,000

Senior Notes Due 2021 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.00%

Debt Instrument, Maturity Date

Dec. 31, 2021

Debt Instrument, Face Amount

$ 400,000,000

Long-term Debt, Gross

$ 400,000,000

400,000,000

Subordinated Debentures Due 2042 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

6.20%

Debt Instrument, Maturity Date

Dec. 31, 2042

Debt Instrument, Face Amount

$ 400,000,000

Long-term Debt, Gross

$ 400,000,000

400,000,000

Senior Notes Due 2023 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.70%

Debt Instrument, Maturity Date

Dec. 31, 2023

Debt Instrument, Face Amount

$ 400,000,000

Long-term Debt, Gross

$ 399,000,000

399,000,000

Notes Payable to Banks [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.09%

Debt Instrument, Maturity Date

Dec. 31, 2039

Debt Instrument, Face Amount

$ 100,000,000

Long-term Debt, Gross

$ 86,000,000

89,000,000

Senior Notes Due 2019 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

6.45%

Debt Instrument, Maturity Date

Dec. 31, 2019

Debt Instrument, Face Amount

$ 400,000,000

Long-term Debt, Gross

$ 0

400,000,000

Senior Notes Due 2017 [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.625%

Debt Instrument, Maturity Date

Dec. 31, 2017

Debt Instrument, Face Amount

$ 300,000,000

Syndicated Credit Facility $850 Million [Member]

Debt Instrument [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

850,000,000

Long-term Line of Credit

^[1]

$ 20,000,000

$ 18,000,000

[1]	Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

The Company’s long-term debt consists of the following as of December 31, 2019 and 2018 (dollars in millions):



	2019			2018
$400 million 6.45% Senior Notes due 2019	$	—		$	400
$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			—
$100 million 4.09% Promissory Note due 2039	86			89
$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	319			319
Sub-total	3,003			2,807
Unamortized issuance costs	(22		)	(19		)
Long-term Debt	$	2,981		$	2,788

Schedule of Maturities of Long-term Debt [Table Text Block]

Future principal payments due on long-term debt, excluding discounts, as of December 31, 2019, were as follows (dollars in millions):



	Calendar Year
	2020		2021		2022		2023		2024		Thereafter
Long-term debt	$	3	$	403	$	3	$	403	$	3	$	2,190

Schedule of Line of Credit Facilities [Table Text Block]

The following table provides additional information on the Company’s existing committed credit facilities as of December 31, 2019 and 2018 (dollars in millions):



			Amount Utilized⁽¹⁾ December 31,
Current Capacity		Maturity Date	2019		2018		Basis of Fees
$	75	June 2021	$	15	$	34	Fixed
105 ⁽²⁾		December 2021	105		106		Fixed
100		March 2022	99		—		Fixed
500		May 2022	375		395		Debt rating and utilization %
100		May 2023	61		61		Fixed
850		August 2023	20		18		Senior unsecured long-term debt rating


(1)	Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.


(2)	Foreign currency denominated facility, amounts presented are in U.S. dollars.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Derivative Instruments (Gross Notional Amount and Fair Value of Derivatives Contracts) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional Amount of Derivatives	$ 19,446	$ 19,885
Derivative Asset, Fair Value, Gross Asset	258	357
Derivative Liability, Fair Value, Gross Liability	1,003	990
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount of Derivatives	17,475	18,044
Derivative Asset, Fair Value, Gross Asset	212	255
Derivative Liability, Fair Value, Gross Liability	970	963
Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	909	1,041
Derivative Asset, Fair Value, Gross Asset	70	47
Derivative Liability, Fair Value, Gross Liability	3	1
Not Designated as Hedging Instrument [Member] \| Future [Member]
Derivative [Line Items]
Notional Amount of Derivatives	307	326
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Notional Amount of Derivatives	175	25
Derivative Asset, Fair Value, Gross Asset	1	0
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument [Member] \| Consumer Price Index Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	441	386
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	28	11
Not Designated as Hedging Instrument [Member] \| Credit Default Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,306	1,338
Derivative Asset, Fair Value, Gross Asset	5	6
Derivative Liability, Fair Value, Gross Liability	0	1
Not Designated as Hedging Instrument [Member] \| Equity [Member]
Derivative [Line Items]
Notional Amount of Derivatives	364	439
Derivative Asset, Fair Value, Gross Asset	15	43
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument [Member] \| Longevity Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	917
Derivative Asset, Fair Value, Gross Asset	0	48
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument [Member] \| Mortality Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	25
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument [Member] \| Synthetic Guaranteed Investment Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	13,823	13,397
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument [Member] \| Embedded Derivatives In Modified Coinsurance Or Funds Withheld Arrangements [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	0
Derivative Asset, Fair Value, Gross Asset	121	110
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument [Member] \| Embedded Derivatives In Indexed Annuity [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	0
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	767	777
Not Designated as Hedging Instrument [Member] \| Embedded Derivatives In Variable Annuity [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	0
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	163	168
Not Designated as Hedging Instrument [Member] \| Currency Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	150	150
Derivative Asset, Fair Value, Gross Asset	0	1
Derivative Liability, Fair Value, Gross Liability	9	5
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,971	1,841
Derivative Asset, Fair Value, Gross Asset	46	102
Derivative Liability, Fair Value, Gross Liability	33	27
Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	535	435
Derivative Asset, Fair Value, Gross Asset	1	0
Derivative Liability, Fair Value, Gross Liability	29	27
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,094	911
Derivative Asset, Fair Value, Gross Asset	28	51
Derivative Liability, Fair Value, Gross Liability	2	0
Designated as Hedging Instrument [Member] \| Currency Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	342	495
Derivative Asset, Fair Value, Gross Asset	17	51
Derivative Liability, Fair Value, Gross Liability	$ 2	$ 0

Financial Condition and Net Income on a Statutory Basis - Significant Subsidiaries (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Statutory Basis [Abstract]
Number Of Preceeding Months To Accumulate Dividend Paid For Approval	12 months
Future Dividend Payment Restricted To Such Percent Of Surplus To Policy Holders	10.00%
RGA Reinsurance Max Dividend Payments Without Approval	$ 315

Policy Claims and Benefits Policy Claims and Benefits (Rollforward of Claims and Claim Adjustment Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Liability for Claims and Claims Adjustment Expense Beginning Balance	$ 6,585	$ 5,896	$ 5,181
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Beginning Balance	(433)	(456)	(395)
Liability For Unpaid Claims And Claims Adjustment Expense Net Of Recoverable, Beginning Balance	6,152	5,440	4,786
Current Year Claims and Claims Adjustment Expense	10,307	10,049	8,912
Prior Year Claims and Claims Adjustment Expense	154	131	14
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims	10,461	10,180	8,926
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year	(5,140)	(4,602)	(4,514)
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years	(5,305)	(4,692)	(4,004)
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid	(10,445)	(9,294)	(8,518)
Interest On Liability For Policy And Contract Claims	33	25	19
Liability for Unpaid Claims and Claims Adjustment Expense, Foreign Currency Translation Gain (Loss)	21	(199)	227
Liability for Unpaid Claims and Claims Adjustment Expense Other	54	(174)	246
Liability For Unpaid Claims And Claims Adjustment Expense Net Of Recoverable, Ending Balance	6,222	6,152	5,440
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance	564	433	456
Liability for Claims and Claims Adjustment Expense, Ending Balance	$ 6,786	$ 6,585	$ 5,896

Derivative Instruments (Derivative Instruments Offsetting Balance Sheet) (Details) - USD ($)
$ in Millions

Dec. 31, 2019

Dec. 31, 2018

Derivative Asset [Abstract]

Derivative Fair Value Of Free Standing Derivative Asset

$ 137

$ 247

Derivative Asset, Fair Value, Gross Liability

(20)

(19)

Derivative Asset

117

228

Derivative Asset, Fair Value of Collateral

^[1]

Derivative, Collateral, Obligation to Return Cash

(119)

(235)

Derivative Asset, Fair Value, Amount Offset Against Collateral

(2)

(7)

Derivative Liability [Abstract]

Derivative Fair Value Of Free Standing Derivative Liability

Derivative Liability, Fair Value, Gross Asset

(20)

(19)

Derivative Liability

Derivative Liability, Fair Value of Collateral

^[1]

(92)

(71)

Derivative, Collateral, Right to Reclaim Cash

(52)

(24)

Derivative Liability, Fair Value, Amount Offset Against Collateral

$ (91)

$ (69)

[1]	Includes initial margin posted to a central clearing partner.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SIGNIFICANT ACCOUNTING POLICIES AND PRONOUNCEMENTS

Investments

Fixed Maturity Securities

Fixed maturity securities classified as available-for-sale are reported at fair value and are so classified based upon the possibility that such securities could be sold prior to maturity if that action enables the Company to execute its investment philosophy and appropriately match investment results to operating and liquidity needs.

Unrealized gains and losses on fixed maturity securities classified as available-for-sale, less applicable deferred income taxes as well as related adjustments to deferred acquisition costs, if applicable, are reflected as a direct charge or credit to accumulated other comprehensive income (“AOCI”) in stockholders’ equity on the consolidated balance sheets.

Investment income is recognized as it accrues or is legally due. Realized gains and losses on sales of investments are included in investment related gains (losses), net, as are credit impairments that are other-than-temporary in nature. The cost of investments sold is primarily determined based upon the specific identification method.

Equity Securities

Equity securities are carried at fair value and realized and unrealized gains and losses are included in investment related gains (losses), net.

Mortgage Loans on Real Estate

Mortgage loans on real estate are carried at unpaid principal balances, net of any unamortized premium or discount and valuation allowances. Interest income is accrued on the principal amount of the mortgage loan based on its contractual interest rate. Amortization of premiums and discounts is recorded using the effective yield method. The Company accrues interest on loans until it is probable the Company will not receive interest or the loan is 90 days past due. Interest income, amortization of premiums, accretion of discounts and prepayment fees are reported in investment income, net of related expenses in the consolidated statements of income.

A mortgage loan is considered to be impaired when, based on the current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the mortgage agreement. Although all available and applicable factors are considered in the Company’s analysis, loan-to-value and debt service coverage ratios are the most critical factors in determining impairment.

Valuation allowances on mortgage loans are established based upon inherent losses expected by management to be realized in connection with future dispositions or settlement of mortgage loans, including foreclosures. The Company establishes valuation allowances for estimated impairments on an individual loan basis as of the balance sheet date. Such valuation allowances are based on the excess carrying value of the loan over the present value of expected future cash flows discounted at the loan’s original effective interest rate, the value of the loan’s collateral if the loan is in the process of foreclosure or is otherwise collateral-dependent, or the loan’s market value if the loan is being sold. Non-specific valuation allowances are established for mortgage loans based upon several loan factors, including the Company’s historical experience for loan losses, defaults and loss severity, loss expectations for loans with similar risk characteristics and industry statistics. These evaluations are revised as conditions change and new information becomes available. In addition to historical experience, management considers qualitative factors that include the impact of changing macro-economic conditions, which may not be currently reflected in the loan portfolio performance, and the quality of the loan portfolio.

Any interest accrued or received on the net carrying amount of the impaired loan will be included in investment income or applied to the principal of the loan, depending on the assessment of the collectability of the loan. Mortgage loans deemed to be uncollectible or that have been foreclosed are charged off against the valuation allowances and subsequent recoveries, if any, are credited to the valuation allowances. Changes in valuation allowances are reported in investment related gains (losses), net on the consolidated statements of income.

The Company evaluates whether a mortgage loan modification represents a troubled debt restructuring. In a troubled debt restructuring, the Company grants concessions related to the borrower’s financial difficulties. Generally, the types of concessions include: reduction of the contractual interest rate, extension of the maturity date at an interest rate lower than current market interest rates and/or a reduction of accrued interest. The Company considers the amount, timing and extent of the concession granted in determining any impairment or changes in the specific valuation allowance recorded in connection with the troubled debt restructuring. Through the continuous monitoring process, the Company may have recorded a specific valuation allowance prior to when the mortgage loan is modified in a troubled debt restructuring. Accordingly, the carrying value (after specific valuation allowance) before and after modification through a troubled debt restructuring may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment.

Policy Loans

Policy loans are reported at the unpaid principal balance. Interest income on such loans is recorded as earned using the contractually agreed-upon interest rate. These policy loans present no credit risk because the amount of the loan cannot exceed the obligation due the ceding company upon the death of the insured or surrender of the underlying policy.

Funds Withheld at Interest

Funds withheld at interest represent amounts contractually withheld by ceding companies in accordance with reinsurance agreements. For agreements written on a modified coinsurance (“modco”) basis and agreements written on a coinsurance funds withheld basis, assets that support the net statutory reserves or as defined in the treaty, are withheld and legally owned by the ceding company. Interest, recorded in investment income, net of related expenses in the consolidated statements of income, accrues to these assets at calculated rates as defined by the treaty terms. Changes in the value of the equity options held within the funds withheld portfolio associated with equity-indexed annuity treaties are reflected in investment income, net of related expenses.

Short-term Investments

Short-term investments represent investments with remaining maturities of one year or less, but greater than three months, at the time of acquisition and are stated at estimated fair value or amortized cost, which approximates estimated fair value. Interest on short-term investments is recorded in investment income, net of related expenses in the consolidated statements of income.

Other Invested Assets

In addition to derivative contracts discussed below, other invested assets include Federal Home Loan Bank of Des Moines (“FHLB”) common stock, limited partnership interests, joint ventures (other than operating joint ventures), lifetime mortgages and contractholder-directed investments. FHLB common stock are carried at cost as required by GAAP. Limited partnership interests are primarily carried at cost. Based on the nature and structure of these investments, they do not meet the characteristics of an equity security in accordance with applicable accounting standards. Joint ventures and certain limited partnerships are reported using the equity method of accounting.

Lifetime mortgages are carried at unpaid principal balances, net of any unamortized premium or discount, fees and valuation allowance. Interest income is accrued on the principal amount of the lifetime mortgage based on its contractual interest rate.

The fair value option (“FVO”) was elected for contractholder-directed investments supporting unit-linked variable annuity type liabilities that do not qualify for presentation and reporting as separate accounts. Changes in estimated fair value of these securities are included in investment income, net of related expenses.

Securities Borrowing, Lending and Repurchase Agreements

The Company participates in securities borrowing programs whereby securities, which are not reflected on the Company’s consolidated balance sheets, are borrowed from third parties. The borrowed securities are used to provide collateral under affiliated reinsurance transactions. The Company is generally required to maintain a minimum of 100% to 105% of the fair value, or par value under certain programs, of the borrowed securities as collateral. The collateral consists of rights to reinsurance treaty cash flows. If cash flows from the reinsurance treaties are insufficient to maintain the minimum collateral requirement, the Company may substitute cash or securities to meet the requirement.

The Company participates in a securities lending program whereby securities, reflected as investments on the Company’s consolidated balance sheets, are loaned to a third party. The Company receives securities as collateral, generally in an amount equal to a minimum of 100% to 105% of the fair value of the securities lent. The securities received as collateral are not reflected on the Company’s consolidated balance sheets.

The Company participates in repurchase/reverse repurchase programs in which securities, reflected as investments on the Company’s consolidated balance sheets, are pledged to third parties. In return, the Company receives securities from the third parties with an estimated fair value generally equal to a minimum of 100% to 105% of the securities pledged. The securities received are not reflected on the Company’s consolidated balance sheets.

Other-than-Temporary Impairment

The Company identifies fixed maturity securities that could potentially have credit impairments that are other-than-temporary by monitoring market events that could impact issuers’ credit ratings, business climates, management changes, litigation, government actions and other similar factors. The Company also monitors late payments, pricing levels, rating agency actions, key financial ratios, financial statements, revenue forecasts and cash flow projections as indicators of credit issues.

The Company reviews all securities on a case-by-case basis to determine whether an other-than-temporary decline in value exists and whether losses should be recognized. The Company considers relevant facts and circumstances in evaluating whether a credit or interest rate-related impairment of a security is other-than-temporary. Relevant facts and circumstances considered include: (1) the extent and length of time the fair value has been below cost or amortized cost; (2) the reasons for the decline in fair value; (3) the issuer’s financial position and access to capital; and (4) the Company’s intent to sell a security or whether it is more likely than not it will be required to sell the security before the recovery of its amortized cost that, in some cases, may extend to maturity. To the extent the Company determines that a security is deemed to be other-than-temporarily impaired, an impairment loss is recognized.

Impairment losses on fixed maturity securities recognized in the financial statements are dependent on the facts and circumstances related to the specific security. If the Company intends to sell a security or it is more likely than not that it would be required to sell a security before the recovery of its amortized cost, less any recorded credit loss, it recognizes an other-than-temporary impairment (“OTTI”) in investment related gains (losses), net on the consolidated statements of income for the difference between amortized cost and fair value. If neither of these two conditions exists then the recognition of the OTTI is bifurcated and the Company recognizes the credit loss portion in investment related gains (losses), net and the non-credit loss portion in AOCI.

The Company estimates the amount of the credit loss component of a fixed maturity security impairment as the difference between amortized cost and the present value of the expected cash flows of the security. The present value is determined using the best estimate cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating rate security. The techniques and assumptions for establishing the best estimate cash flows vary depending on the type of security. The asset-backed securities’ cash flow estimates are based on security-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity and prepayment speeds and structural support, including subordination and guarantees. The corporate fixed maturity security cash

flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using security specific facts and circumstances including timing, security interests and loss severity.

In periods after an OTTI is recognized on a fixed maturity security, the Company will report the impaired security as if it had been purchased on the date it was impaired and will continue to estimate the present value of the estimated cash flows of the security. Accordingly, the discount (or reduced premium) based on the new cost basis is accreted into net investment income over the remaining term of the fixed maturity security in a prospective manner based on the amount and timing of estimated future cash flows.

The Company considers its cost method investments for OTTI when the carrying value of these investments exceeds the net asset value. The Company takes into consideration the severity and duration of this excess when deciding if the cost method investment is other-than-temporarily impaired. For equity method investments (including real estate joint ventures), the Company considers financial and other information provided by the investee, other known information and inherent risks in the underlying investments, as well as future capital commitments, in determining whether an impairment has occurred.

Derivative Instruments

Overview

The Company utilizes a variety of derivative instruments including swaps, options, forwards and futures, primarily to manage or hedge interest rate risk, credit risk, inflation risk, foreign currency risk, market volatility and various other market risks associated with its business. The Company does not invest in derivatives for speculative purposes. It is the Company’s policy to enter into derivative contracts primarily with highly rated parties. See Note 5 - “Derivative Instruments” for additional detail on the Company’s derivative positions.

Accounting and Financial Statement Presentation of Derivatives

Derivatives are carried on the Company’s consolidated balance sheets primarily in other invested assets or other liabilities, at fair value. Certain derivatives are subject to master netting provisions and reported as a net asset or liability. On the date a derivative contract is executed, the Company designates the derivative as (1) a fair value hedge, (2) a cash flow hedge, (3) a net investment hedge in a foreign operation or (4) free-standing derivatives held for other risk management purposes, which primarily involve managing asset or liability risks associated with the Company’s reinsurance treaties that do not qualify for hedge accounting.

Changes in the fair value of free-standing derivative instruments, which do not receive accounting hedge treatment, are primarily reflected in investment related gains (losses), net.

Changes in the fair value of non-investment free-standing derivative instruments (e.g. mortality and longevity swaps), which do not receive accounting hedge treatment, are reflected in other revenues.

Hedge Documentation and Hedge Effectiveness

To qualify for hedge accounting, at the inception of the hedging relationship, the Company formally documents its risk management objective and strategy for undertaking the hedging transaction, as well as its designation of the hedge as either (i) a fair value hedge; (ii) a cash flow hedge; or (iii) a hedge of a net investment in a foreign operation. In this documentation, the Company sets forth how the hedging instrument is expected to hedge the designated risks related to the hedged item and sets forth the method that will be used to retrospectively and prospectively assess the hedging instrument’s effectiveness and the method that will be used to measure ineffectiveness. A derivative designated as a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed at inception and periodically throughout the life of the designated hedging relationship.

Under a fair value hedge, changes in the fair value of the hedging derivative, including amounts measured as ineffective, and changes in the fair value of the hedged item related to the designated risk being hedged, are reported within investment related gains (losses), net. The fair values of the hedging derivatives are exclusive of any accruals that are separately reported in the consolidated statements of income within interest income or interest expense to match the location of the hedged item.

Under a cash flow hedge, changes in the fair value of the hedging derivative measured as effective are reported within AOCI and the deferred gains or losses on the derivative are reclassified into the consolidated statements of income when the Company’s earnings are affected by the variability in cash flows of the hedged item. The fair values of the hedging derivatives are exclusive of any accruals that are separately reported in the consolidated statements of income within interest income or interest expense to match the location of the hedged item.

In a hedge of a net investment in a foreign operation, changes in the fair value of the hedging derivative that are measured as effective are reported within AOCI consistent with the translation adjustment for the hedged net investment in the foreign operation. Changes in the fair value of the hedging instrument measured as ineffective are reported within investment related gains (losses), net.

The Company discontinues hedge accounting prospectively when: (i) it is determined that the derivative is no longer highly effective in offsetting changes in the estimated fair value or cash flows of a hedged item; (ii) the derivative expires, is sold, terminated, or exercised; (iii) it is no longer probable that the hedged forecasted transaction will occur; or (iv) the derivative is de-designated as a hedging instrument.

When hedge accounting is discontinued because it is determined that the derivative is not highly effective, the derivative continues to be carried in the consolidated balance sheets at fair value, with changes in fair value recognized in investment related gains (losses), net. The carrying value of the hedged asset or liability under a fair value hedge is no longer adjusted for changes in its estimated fair value due to the hedged risk, and the cumulative adjustment to its carrying value is amortized into income over the remaining life of the hedged item. Provided the hedged forecasted transaction occurrence is still probable, the changes in estimated fair value of derivatives recorded in other comprehensive income (loss) (“OCI”) related to discontinued cash flow hedges are released into the consolidated statements of income when the Company’s earnings are affected by the variability in cash flows of the hedged item.

When hedge accounting is discontinued because it is no longer probable that the forecasted transactions will occur on the anticipated date or within two months of that date, the derivative continues to be carried in the consolidated balance sheets at its estimated fair value, with changes in estimated fair value recognized currently in investment related gains (losses), net. Deferred gains and losses of a derivative recorded in OCI pursuant to the discontinued cash flow hedge of a forecasted transaction that is no longer probable are recognized immediately in investment related gains (losses), net.

In all other situations in which hedge accounting is discontinued, the derivative is carried at its estimated fair value in the consolidated balance sheets, with changes in its estimated fair value recognized in the current period as investment related gains (losses), net.

Embedded Derivatives

The Company reinsures certain annuity products that contain terms that are deemed to be embedded derivatives, primarily equity-indexed annuities and variable annuities with guaranteed minimum benefits. The Company assesses reinsurance contract terms to identify embedded derivatives, which are required to be bifurcated under the general accounting principles for Derivatives and Hedging. If the contract is not reported for in its entirety at fair value and it is determined that the terms of the embedded derivative are not clearly and closely related to the economic characteristics of the host contract, and that a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract and accounted for separately.

Such embedded derivatives are carried on the consolidated balance sheets at fair value in the same line item as the host contract. Changes in the fair value of embedded derivatives associated with equity-indexed annuities are reflected in interest credited on the consolidated statements of income and changes in the fair value of embedded derivatives associated with variable annuity guaranteed minimum benefits are reflected in investment related gains (losses), net on the consolidated statements of income. See “Interest-Sensitive Contract Liabilities” below for additional information on embedded derivatives related to equity-indexed and variable annuities. The Company has implemented an economic hedging strategy to mitigate the volatility associated with its reinsurance of variable annuity guaranteed minimum benefits. The hedging strategy is designed such that changes in the fair value of the hedge contracts, primarily futures, swap contracts and options, move in the opposite direction of changes in the fair value of the embedded derivatives. While the Company actively manages its hedging program, the hedges that are in place may not be totally effective in offsetting the embedded derivative changes due to the many variables that must be managed and the Company may see a corresponding increase or decrease in the net liability. The Company has elected not to assess this hedging strategy for hedge accounting treatment.

Additionally, reinsurance treaties written on a modco or funds withheld basis are subject to the general accounting principles for Derivatives and Hedging related to embedded derivatives. The Company’s funds withheld at interest balances are primarily associated with its reinsurance treaties structured on a modco or funds withheld basis, the majority of which were subject to the general accounting principles for Derivatives and Hedging related to embedded derivatives. Management believes the embedded derivative feature in each of these reinsurance treaties is similar to a total return swap on the assets held by the ceding companies. The valuation of embedded derivatives is sensitive to the investment credit spread environment. Changes in investment credit spreads are also affected by the application of a credit valuation adjustment (“CVA”). The fair value calculation of an embedded derivative in an asset position utilizes a CVA based on the ceding company’s credit risk. Conversely, the fair value calculation of an embedded derivative in a liability position utilizes a CVA based on the Company’s credit risk. Generally, an increase in investment credit spreads, ignoring changes in the CVA, will have a negative impact on the fair value of the embedded derivative (decrease in income). The fair value of the embedded derivatives is included in the funds withheld at interest line item on the consolidated balance sheets. The change in the fair value of the embedded derivatives is recorded in investment related gains (losses), net on the consolidated statements of income.

The Company has entered into various financial reinsurance treaties on a funds withheld and modco basis. These treaties do not transfer significant insurance risk and are recorded on a deposit method of accounting with the Company earning a net fee. As a result of the experience refund provisions contained in these treaties, the value of the embedded derivatives in these contracts is

currently considered immaterial. The Company monitors the performance of these treaties on a quarterly basis. Significant adverse performance or losses on these treaties may result in a loss associated with the embedded derivative.

Fair Value Measurements

General accounting principles for Fair Value Measurements and Disclosures define fair value, establish a framework for measuring fair value, establish a fair value hierarchy based on the inputs used to measure fair value and enhance disclosure requirements for fair value measurements. In compliance with these principles, the Company has categorized its assets and liabilities, based on the priority of the inputs to the valuation technique, into a three level hierarchy or separately for assets measured using the net asset value (“NAV”). The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1), the second highest priority to quoted prices in markets that are not active or inputs that are observable either directly or indirectly (Level 2) and the lowest priority to unobservable inputs (Level 3).

If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the asset or liability.

See Note 6 - “Fair Value of Assets and Liabilities” for further details on the Company’s assets and liabilities recorded at fair value.

Cash and Cash Equivalents

Cash and cash equivalents include cash on deposit and highly liquid debt instruments purchased with an original maturity of three months or less.

Premiums Receivable

Premiums are accrued when due and in accordance with information received from the ceding company. When the Company enters into a new reinsurance agreement, it records accruals based on the terms of the reinsurance treaty. Similarly, when a ceding company fails to report information on a timely basis, the Company records accruals based on the terms of the reinsurance treaty as well as historical experience. Other management estimates include adjustments for increased in force on existing treaties, lapsed premiums given historical experience, the financial health of specific ceding companies, collateral value and the legal right of offset on related amounts (i.e. allowances and claims) owed to the ceding company. Under the legal right of offset provisions in its reinsurance treaties, the Company can withhold payments for allowances and claims from unpaid premiums. Based on its review of these factors and historical experience, the Company did not believe a provision for doubtful accounts was necessary as of December 31, 2019 or 2018.

Reinsurance Ceded Receivables

The Company generally reports retrocession activity on a gross basis. Amounts paid or deemed to have been paid for reinsurance are reflected in reinsurance ceded receivables. The cost of reinsurance related to long-duration contracts is recognized over the terms of the reinsured policies on a basis consistent with the reporting of those policies.

Deferred Policy Acquisition Costs

Costs of acquiring new business, which vary with and are directly related to the production of new business, have been deferred to the extent that such costs are deemed recoverable from future premiums or gross profits. Such costs include commissions and allowances as well as certain costs of policy issuance and underwriting. Non-commission costs related to the acquisition of new and renewal insurance contracts may be deferred only if they meet the following criteria:


•	Incremental direct costs of a successful contract acquisition


•	Portions of employees’ salaries and benefits directly related to time spent performing specified acquisition activities for a contract that has been acquired or renewed


•	Other costs directly related to the specified acquisition or renewal activities that would not have been incurred had that acquisition contract transaction not occurred

The Company tests the recoverability for each year of business at issue before establishing additional deferred acquisition costs (“DAC”). The Company also performs annual tests to establish that DAC are expected to remain recoverable, and if financial performance significantly deteriorates to the point where a deficiency exists, a cumulative charge to current operations will be recorded. No such adjustments related to DAC recoverability were made in 2019, 2018 and 2017.

DAC related to traditional life insurance contracts are amortized with interest over the premium-paying period of the related policies in proportion to the ratio of individual period premium revenues to total anticipated premium revenues over the life of the policy. Such anticipated premium revenues are estimated using the same assumptions used for computing liabilities for future policy benefits.

DAC related to interest-sensitive life and investment-type policies are amortized over the lives of the policies, in proportion to the gross profits realized from mortality, investment income less interest credited, and expense margins.

Other Reinsurance Balances

The Company assumes and retrocedes financial reinsurance contracts that do not expose it to a reasonable possibility of loss from insurance risk. These contracts are reported as deposits and are included in other reinsurance assets/liabilities. The amount of revenue reported in other revenues on these contracts represents fees and the cost of insurance under the terms of the reinsurance agreement. Assets and liabilities are reported on a net or gross basis, depending on the specific details within each treaty. Reinsurance agreements reported on a net basis, where a legal right of offset exists, are generally included in other reinsurance balances on the consolidated balance sheets. Balances resulting from the assumption and/or subsequent transfer of benefits and obligations resulting from cash flows related to variable annuities have also been classified as other reinsurance balance assets and/or liabilities. Other reinsurance assets are included in premiums receivable and other reinsurance balances while other reinsurance liabilities are included in other reinsurance balances.

Acquired Intangibles

Goodwill and Value of Business Acquired

Goodwill, reported in other assets, is not amortized into results of operations, but instead is reviewed at least annually for impairment and written down only in the periods in which the recorded value of goodwill exceeds its fair value. Goodwill as of December 31, 2019 and 2018 totaled $7 million. The value of business acquired (“VOBA”) is amortized in proportion to the ratio of annual premium revenues to total anticipated premium revenues or in relation to the present value of estimated profits. Anticipated premium revenues have been estimated using assumptions consistent with those used in estimating reserves for future policy benefits. The carrying value is reviewed at least annually for indicators of impairment in value. Carrying value of VOBA, net of accumulated amortization, was approximately $5 million as of both December 31, 2019 and 2018, and is reported in other assets. Amortization expense for the years ended December 31, 2019, 2018 and 2017 was $0.7 million, $0.4 million, and $0.3 million, respectively. Future amortization of VOBA is not material.

Value of Distribution Agreements and Customer Relationships Acquired

Value of distribution agreements (“VODA”) is reported in other assets and represents the present value of future profits associated with the expected future business derived from the distribution agreements. Value of customer relationships acquired (“VOCRA”) is also reported in other assets and represents the present value of the expected future profits associated with the expected future business acquired through existing customers of the acquired company or business. VODA is amortized over a useful life of 15 years and the VOCRA is also amortized over a 15 year period in proportion to expected revenues generated, with amortization included in policy acquisition costs and other insurance expenses. Each year the Company reviews VODA and VOCRA to determine the recoverability of these balances. VODA and VOCRA totaled approximately $33 million and $41 million, including accumulated amortization of $88 million and $80 million, as of December 31, 2019 and 2018, respectively. VODA and VOCRA amortization expense for the years ended December 31, 2019, 2018 and 2017 was $8 million, $8 million and $9 million, respectively. Amortization of the VODA and VOCRA is estimated to be $8 million, $7 million, $6 million, $6 million and $6 million during 2020, 2021, 2022, 2023 and 2024, respectively.

Other acquired intangible assets

Other acquired intangibles are reported in other assets and primarily represent intangibles and licenses acquired through the Company’s acquisition of service and technology oriented companies in an effort to both support its clients and generate new future revenue streams. Other acquired intangible assets are amortized using the straight-line method over the estimated useful life of 10 to 15 years, with amortization included in other operating expenses. Each year the Company reviews other acquired intangibles to determine the recoverability of these balances. Other acquired intangibles totaled approximately $34 million and $37 million, including accumulated amortization of $8 million and $4 million, as of December 31, 2019 and 2018, respectively. Other acquired intangibles amortization expense for the years ended December 31, 2019, 2018 and 2017 was $4 million, $4 million and $1 million, respectively. Amortization of other acquired intangibles is estimated to be $4 million during 2020, 2021, 2022, 2023 and 2024, respectively.

Property, Equipment, Leasehold Improvements and Computer Software

Property, equipment and leasehold improvements, which are included in other assets, are stated at cost, less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful lives of the assets, as appropriate. The estimated life is generally 40 years for company occupied real estate property, from one to seven years for leasehold improvements, and from three to seven years for all other property and equipment. The cost basis of property, equipment and leasehold improvements was $244 million and $249 million at December 31, 2019 and 2018, respectively. Accumulated depreciation of property, equipment and leasehold improvements was $99 million and $97 million at December 31, 2019 and 2018, respectively. Related depreciation expense was $18 million, $18 million and $17 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Computer software, which is included in other assets, is stated at cost, less accumulated amortization. Purchased software costs, as well as certain internal and external costs incurred to develop internal-use computer software during the application development stage, are capitalized. Amortization of software costs is recorded on a straight-line basis over periods ranging from three to ten years. Carrying values are reviewed at least annually for indicators of impairment in value. Unamortized computer software costs were $151 million and $150 million at December 31, 2019 and 2018, respectively. Amortization expense was $31 million, $27 million, and $36 million for the years ended December 31, 2019, 2018 and 2017, respectively. The Company recognized capital project write-offs of $4 million, $5 million and $25 million in 2019, 2018 and 2017, respectively.

Operating Joint Ventures

The Company has made investments in certain joint ventures that are strategic in nature and made other than for the sole purpose of generating investment income. These investments are reported under the equity method of accounting and are included in other assets on the consolidated balance sheets. The Company’s share of earnings from these joint ventures is reported in other revenues on the consolidated statements of income. The Company’s investments in operating joint ventures do not have a material effect on the Company’s results of operations and financial condition, and as a result no additional disclosures have been presented.

Future Policy Benefits

Liabilities for future benefits on life policies are established in an amount adequate to meet the estimated future obligations on policies in force. Liabilities for future policy benefits under long-duration life insurance policies have been computed based upon expected investment yields, mortality and withdrawal (lapse) rates, and other assumptions. These assumptions include a margin for adverse deviation and vary with the characteristics of the plan of insurance, year of issue, age of insured, and other appropriate factors. Interest rates range from 3.0% to 6.0%. The mortality and withdrawal assumptions are based on the Company’s experience as well as industry experience and standards. In establishing reserves for future policy benefits, the Company assigns policy liability assumptions to particular timeframes (eras) in such a manner as to be consistent with the underlying assumptions and economic conditions at the time the risks are assumed. The Company maintains a consistent approach to setting the provision for adverse deviation between eras.

Liabilities for future benefits on longevity business, including annuities in the payout phase, are established in an amount adequate to meet the estimated future obligations on policies in force. Liabilities for future benefits related to the longevity business, including annuities in the payout phase have been calculated using expected mortality, investment yields, and other assumptions. These assumptions include a margin for adverse deviation and vary with the characteristics of the plan of insurance, year of issue, age of insured, and other appropriate factors. The mortality assumptions are based on the Company’s experience as well as industry experience and standards. A deferred profit liability is established when the gross premium exceeds the net premium.

The Company periodically reviews actual and anticipated experience compared to the assumptions used to establish policy benefits. The Company establishes premium deficiency reserves if actual and anticipated experience indicates that existing policy liabilities together with the present value of future gross premiums will not be sufficient to cover the present value of future benefits, settlement and maintenance costs and to recover unamortized acquisition costs. Anticipated investment income is considered in the calculation of premium deficiency losses for short-duration contracts. The premium deficiency reserve is established by a charge to income, as well as a reduction in unamortized acquisition costs and, to the extent there are no unamortized acquisition costs, an increase in future policy benefits.

The reserving process includes normal periodic reviews of assumptions used and adjustments of reserves to incorporate the refinement of the assumptions. Any such adjustments relate only to policies assumed in recent periods and the adjustments are reflected by a cumulative charge or credit to current operations.

The Company reinsures disability products in various markets. Liabilities for future benefits on disability policies’ active lives are established in an amount adequate to meet the estimated future obligations on policies in force. These reserves are the amounts that, with the additional premiums to be received and interest thereon compounded annually at certain assumed rates, are calculated to be sufficient to meet the various policy and contract obligations as they mature.

The Company establishes future policy benefits for guaranteed minimum death benefits (“GMDB”) relating to the reinsurance of certain variable annuity contracts by estimating the expected value of death benefits in excess of the projected account balance and recognizing the excess proportionally over the accumulation period based on total expected assessments. The Company regularly evaluates estimates used and adjusts the additional liability balance, with a related charge or credit to claims and other policy benefits, if actual experience or other evidence suggests that earlier assumptions should be revised. The assumptions used in estimating the GMDB liabilities are consistent with those used for amortizing DAC, and are thus subject to the same variability and risk. The Company’s GMDB liabilities at December 31, 2019 and 2018 were not material.

Interest-Sensitive Contract Liabilities

Liabilities for future benefits on interest-sensitive life and investment-type contract liabilities are carried at the accumulated contract holder values without reduction for potential surrender or withdrawal charges. The Company reinsures asset-intensive products, including annuities and corporate-owned life insurance. The investment portfolios for these products are segregated for management purposes within the general account of the respective legal entity. The liabilities under asset-intensive insurance contracts or reinsurance contracts reinsured on a coinsurance basis are included in interest-sensitive contract liabilities on the consolidated balance sheets. Asset-intensive contracts principally include individual fixed annuities in the accumulation phase, single premium immediate annuities, equity-indexed annuities, individual variable annuities, corporate-owned life and interest-sensitive whole life insurance contracts. Interest-sensitive contract liabilities are equal to (i) policy account values, which consist of an accumulation of gross premium payments; (ii) credited interest less expenses, mortality charges, and withdrawals; and (iii) fair value adjustments relating to business combinations. Liabilities for immediate annuities are calculated as the present value of the expected cash flows, with the locked-in discount rate determined such that there is no gain or loss at inception. Additionally, certain annuity contracts the Company reinsures contain terms, such as guaranteed minimum benefits and equity participation options, which are deemed to be embedded derivatives and are accounted for based on the general accounting principles for Derivatives and Hedging.

The Company establishes liabilities for guaranteed minimum living benefits relating to certain variable annuity products as follows:

Guaranteed minimum income benefits (“GMIB”) provide the contract holder, after a specified period of time determined at the time of issuance of the variable annuity contract, with a minimum level of income (annuity) payments. Under the reinsurance treaty, the Company makes a payment to the ceding company equal to the GMIB net amount-at-risk at the time of annuitization and thus these contracts meet the net settlement criteria of the general accounting principles for Derivatives and Hedging and the Company assumes no mortality risk. Accordingly, the GMIB is considered an embedded derivative, which is measured at fair value separately from the host variable annuity product.

Guaranteed minimum withdrawal benefits (“GMWB”) guarantee the contract holder a return of their purchase payment via partial withdrawals, even if the account value is reduced to zero, provided that the contract holder’s cumulative withdrawals in a contract year do not exceed a certain limit. The initial guaranteed withdrawal amount is equal to the initial benefit base as defined in the contract (typically, the initial purchase payments plus applicable bonus amounts). The GMWB is also an embedded derivative, which is measured at fair value separately from the host variable annuity product.

Guaranteed minimum accumulation benefits (“GMAB”) provide the contract holder, after a specified period of time determined at the time of issuance of the variable annuity contract, with a minimum accumulation of their purchase payments even if the account value is reduced to zero. The initial guaranteed accumulation amount is equal to the initial benefit base as defined in the contract (typically, the initial purchase payments plus applicable bonus amounts). The GMAB is also an embedded derivative, which is measured at fair value separately from the host variable annuity product.

For GMIB, GMWB and GMAB, the initial benefit base is increased by additional purchase payments made within a certain time period and decreased by benefits paid and/or withdrawal amounts. After a specified period of time, the benefit base may also increase as a result of an optional reset as defined in the contract.

The fair values of the GMIB, GMWB and GMAB embedded derivative liabilities are reflected in interest-sensitive contract liabilities on the consolidated balance sheets and are calculated based on actuarial and capital market assumptions related to the projected cash flows, including benefits and related contract charges over the lives of the contracts. These projected cash flows incorporate expectations concerning policyholder behavior, such as lapses, withdrawals and benefit selections, and capital market assumptions such as interest rates and equity market volatilities. In measuring the fair value of GMIBs, GMWBs and GMABs, the Company attributes a portion of the fees collected from the policyholder equal to the present value of expected future guaranteed minimum income, withdrawal and accumulation benefits (at inception). The changes in fair value are reported in investment related gains (losses), net. Any additional fees represent “excess” fees and are reported in other revenues on the consolidated statements of income. These variable annuity guaranteed living benefits may be more costly than expected in volatile or declining equity markets or falling interest rate markets, causing an increase in interest-sensitive contract liabilities, negatively affecting net income.

The Company reinsures equity-indexed annuity contracts. These contracts allow the contract holder to elect an interest rate return or an equity market component where interest credited is based on the performance of common stock market indices, such as the S&P 500 Index^®, the Dow Jones Industrial Average, or the NASDAQ. The equity market option is considered an embedded derivative, similar to a call option, which is reflected at fair value on the consolidated balance sheets in interest-sensitive contract liabilities. The fair value of embedded derivatives is computed based on a projection of future equity option costs using a budget methodology, discounted back to the balance sheet date using current market indicators of volatility and interest rates. Changes in the fair value of the embedded derivatives are included as a component of interest credited on the consolidated statements of income.

The Company reviews its estimates of actuarial liabilities for interest-sensitive contract liabilities and compares them with its actual experience. Differences between actual experience and the assumptions used in pricing these guarantees and benefits and

in the establishment of the related liabilities result in variances in profit and could result in losses. The effects of changes in such estimated liabilities are included in the results of operations in the period in which the changes occur.

Other Policy Claims and Benefits

Claims payable for incurred but not reported losses are determined using case-basis estimates and lag studies of past experience. The time lag from the date of the claim or death to when the ceding company reports the claim to the Company can vary significantly by ceding company, business segment and product type, but generally averages around 3.9 months. Incurred but not reported claims are estimates on an undiscounted basis, using actuarial estimates of historical claims expense, adjusted for current trends and conditions. These estimates are continually reviewed and the ultimate liability may vary significantly from the amount recognized, which are reflected in claims and other policy benefits in the consolidated statements of income in the period in which they are determined.

Other Liabilities

Other liabilities primarily include investments in transit, separate accounts, employee benefits, cash collateral received on derivative positions and current federal income taxes payable.

Income Taxes

The U.S. consolidated tax return includes the operations of RGA and all eligible subsidiaries. Certain RGA subsidiaries file separate U.S. income tax returns as these companies are currently ineligible for inclusion in the consolidated federal tax return. The Company’s foreign subsidiaries are taxed under applicable local statutes.

The Company provides for federal, state and foreign income taxes currently payable, as well as those deferred due to temporary differences between the tax basis of assets and liabilities and the reported amounts, and are recognized in net income or in certain cases in OCI. The Company’s accounting for income taxes represents management’s best estimate of various events and transactions considering the laws enacted as of the reporting date. The Tax Cuts and Jobs Act of 2017 (“U.S. Tax Reform”) creates additional complexity due to various provisions that require management judgment and assumptions, which are subject to change.

Deferred tax assets and liabilities are measured by applying the relevant jurisdictions’ enacted tax rate to the temporary difference in the period in which the temporary differences are expected to reverse. The Company will establish a valuation allowance if management determines, based on available information, that it is more likely than not that deferred income tax assets will not be realized. The Company has deferred tax assets including those related to foreign tax credits, net operating, and capital losses. The Company has projected its ability to utilize its deferred tax assets and established a valuation allowance on the portion of the deferred tax assets the Company believes more likely than not will not be realized.

Significant judgment is required in determining whether valuation allowances should be established as well as the amount of such allowances. When making such a determination, consideration is given to, among other things, the following:


(i)	future taxable income exclusive of reversing temporary differences and carryforwards;


(ii)	future reversals of existing taxable temporary differences;


(iii)	taxable income in prior carryback years; and


(iv)	tax planning strategies.

Any such changes could significantly affect the amounts reported in the consolidated financial statements in the year these changes occur.

The Company made a policy election to account for global intangible low-taxed income (“GILTI”) as a period cost.

The Company reports uncertain tax positions in accordance with generally accepted accounting principles. In order to recognize the benefit of an uncertain tax position, the position must meet the more likely than not criteria of being sustained. Unrecognized tax benefits due to tax uncertainties that do not meet the more likely than not criteria are included within income tax laibilites and are charged to earnings in the period that such determination is made. The Company classifies interest related to tax uncertainties as interest expense whereas penalties related to tax uncertainties are classified as a component of income tax.

See Note 9 - “Income Tax” for further discussion including the impact of the December 22, 2017 enactment of U.S. Tax Reform.

Collateral Finance and Securitization Notes

Collateral finance and securitization notes represent private placement asset-backed structured financing transactions. Collateral finance notes are issued on specified insurance policies reinsured by the Company’s regulated subsidiaries. Transaction costs, primarily interest expense, are reflected in collateral finance and securitization expense. See Note 14 - “Collateral Finance and Securitization Notes” for additional information.

Foreign Currency Translation

Assets, liabilities and results of foreign operations are recorded based on the functional currency of each foreign operation. The determination of the functional currency is based on economic facts and circumstances pertaining to each foreign operation. The Company’s material functional currencies are the U.S. dollar, Canadian dollar, British pound, Australian dollar, Japanese yen, Korean won, Euro and South African rand. The translation of the functional currency into U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for revenue and expense accounts using weighted-average exchange rates during each year. Gains or losses, net of applicable deferred income taxes, resulting from such translation are included in accumulated currency translation adjustments, in AOCI on the consolidated balance sheets until the underlying functional currency operation is sold or substantially liquidated.

Recognition of Revenues and Related Expenses

Life and health premiums are recognized as revenue when due from the insured, and are reported net of amounts retroceded. Benefits and expenses are reported net of amounts retroceded and are associated with earned premiums so that profits are recognized over the life of the related contract. This association is accomplished through the provision for future policy benefits and the amortization of deferred policy acquisition costs. Other revenue includes items such as treaty recapture fees, fees associated with financial reinsurance and policy changes on interest-sensitive and investment-type products that the Company reinsures. Any fees that are collected in advance of the period benefited are deferred and recognized over the period benefited.

For certain reinsurance transactions involving in force blocks of business, the ceding company pays a premium equal to the initial required reserve (future policy benefit). In such transactions, for income statement presentation, the Company nets the expense associated with the establishment of the reserve on the consolidated balance sheets against the premiums from the transaction.

Revenues for interest-sensitive and investment-type products consist of investment income, policy charges for the cost of insurance, policy administration, and surrenders that have been assessed against policy account balances during the period. Interest-sensitive contract liabilities for these products represent policy account balances before applicable surrender charges. Policy benefits and claims that are charged to expenses include claims incurred in the period in excess of related policy account balances and interest credited to policy account balances. Interest is credited to policyholder account balances according to terms of the policies or contracts.

For each of its reinsurance contracts, the Company must determine if the contract provides indemnification against loss or liability relating to insurance risk, in accordance with GAAP. The Company must review all contractual features, particularly those that may limit the amount of insurance risk to which the Company is subject or features that delay the timely reimbursement of claims. If the Company determines that a contract does not expose it to a reasonable possibility of a significant loss from insurance risk, the Company records the contract on a deposit method of accounting with any net amount receivable reflected as an asset within premiums receivable and other reinsurance balances, and any net amount payable reflected as a liability within other reinsurance balances on the consolidated balance sheets. Fees earned on the contracts are reflected as other revenues, rather than premiums, on the consolidated statements of income.

Equity Based Compensation

The Company expenses the fair value of stock awards included in its incentive compensation plans. As of the date stock awards are approved, the fair value of stock options is determined using a Black-Scholes options valuation methodology, and the fair value of other stock awards is based upon the market value of the stock on the grant date. The fair value of the awards is expensed over the performance or service period, which generally corresponds to the vesting period, and is recognized as an increase to additional paid-in-capital in stockholders’ equity, and stock-based compensation expense is reflected in other operating expenses in the consolidated statements of income.

Earnings Per Share

Basic earnings per share exclude any dilutive effects of any outstanding options. Diluted earnings per share include the dilutive effects assuming outstanding stock options were exercised.

New Accounting Pronouncements

Changes to the general accounting principles are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates to the FASB Accounting Standards Codification^TM. Accounting standards updates not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s consolidated financial statements.



Description	Date of Adoption	Effect on the Financial Statements or Other Significant Matters
Standards adopted:
Financial Instruments - Recognition and Measurement This guidance requires equity investments that are not accounted for under the equity method of accounting to be measured at fair value with changes recognized in net income and also updates certain presentation and disclosure requirements.	January 1, 2018	This guidance required a cumulative-effect adjustment for certain items upon adoption. The adoption of the new guidance was not material to the Company's financial position.
Compensation - Retirement Benefits - Defined Benefit Plans - General This guidance is part of the FASB’s disclosure framework project and eliminates certain disclosure requirements for defined benefit pension and other postretirement plans. Early adoption is permitted.	December 31, 2018	This guidance was applied retrospectively to all periods presented in the year of adoption. The adoption of the new guidance was not material to the Company’s financial position.
Leases This new standard, based on the principle that entities should recognize assets and liabilities arising from leases, does not significantly change the lessees’ recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Leases are classified as finance or operating. The new standard’s primary change is the requirement for entities to recognize a lease liability for payments and a right of use asset representing the right to use the leased asset during the term of operating lease arrangements. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. Lessors’ accounting is largely unchanged from the previous accounting standard. In addition, the new standard expands the disclosure requirements of lease arrangements. Early adoption is permitted.	January 1, 2019	This guidance was adopted by applying the optional transition method. The adoption of the standard did not have a material impact on the Company’s results of operations or financial position. The adoption of the updated guidance resulted in the Company recognizing a right-to-use asset and lease liability of $55.2 million included in other assets and other liabilities, respectively, in the consolidated balance sheets.
Derivatives and Hedging This updated guidance improves the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and make certain targeted improvements to simplify the application of the hedge accounting in current GAAP related to the assessment of hedge effectiveness. Early adoption is permitted.	January 1, 2019	This guidance was adopted by applying a modified retrospective approach to existing hedging relationships as of the date of adoption. The adoption of the new standard did not have a material impact on the Company’s results of operations or financial position. Upon adoption of the guidance, the Company recorded an immaterial adjustment to retained earnings as of the beginning of the first reporting period in which the guidance was effective and modified some disclosures.



Description	Anticipated Date of Adoption	Effect on the Financial Statements or Other Significant Matters
Standards not yet adopted:
Financial Services - Insurance This guidance significantly changes how insurers account for long-duration insurance contracts. The new guidance also significantly expands the disclosure requirements of long-duration insurance contracts. The new guidance will be effective for annual and interim reporting periods beginning January 1, 2022. Below are the most significant areas of change:	January 1, 2022	See each significant area of change below for the method of adoption and expected impact to the Company’s results of operations and financial position.
Cash flow assumptions for measuring liability for future policy benefits The new guidance requires insurers to review, and if necessary, update the cash flow assumptions used to measure liabilities for future policy benefits periodically. The change in the liability estimate as a result of updating cash flow assumptions will be recognized in net income.		Cash flow assumptions for measuring liability for future policy benefits The Company will likely adopt this guidance on a modified retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Discount rate assumption for measuring liability for future policy benefits The new guidance requires insurers to update the discount rate assumption used to measure liabilities for future policy benefits at each reporting period, and the discount rate utilized must be based on an upper-medium grade fixed income instrument yield. The change in the liability estimate as a result of updating the discount rate assumption will be recognized in other comprehensive income.		Discount rate assumption for measuring liability for future policy benefits The Company will likely adopt this guidance on a modified retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Market risk benefits The new guidance created a new category of benefit features called market risk benefits that will be measured at fair value with changes in fair value attributable to a change in the instrument-specific credit risk recognized in other comprehensive income.		Market risk benefits The Company will adopt this guidance on a retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Amortization of deferred acquisition costs (“DAC”) and other balances The new guidance requires DAC and other balances to be amortized on a constant level basis over the expected term of the related contracts.		Amortization of deferred acquisition costs (“DAC”) and other balances The Company will likely adopt this guidance on a modified retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Financial Instruments - Credit Losses This guidance adds to U.S. GAAP an impairment model, known as current expected credit loss (“CECL”) model that is based on expected losses rather than incurred losses. For traditional and other receivables, held-to-maturity debt securities, loans and other instruments entities will be required to use the new forward-looking “expected loss” model that generally will result in earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses similar to what they do today, except the losses will be recognized through an allowance for credit losses and adjusted each period for changes in credit risks. Early adoption is permitted.	January 1, 2020	For asset classes within the scope of the CECL model, this guidance will be adopted through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). For available-for-sale debt securities, this guidance will be applied prospectively. The allowance for credit losses will increase when this guidance is adopted to include expected losses over the lifetime of commercial mortgages and other loans, including reasonable and supportable forecasts and expected changes in future economic conditions. The overall impact is estimated to be an approximate $15 million increase in the allowance for credit losses. This increase will be reflected as a decrease to opening retained earnings, net of income taxes, as of January 1, 2020.
Fair Value Measurement This guidance is part of the FASB’s disclosure framework project and eliminates certain disclosure requirements for fair value measurement, requires entities to disclose new information and modifies existing disclosure requirements. Early adoption is permitted.	January 1, 2020	Certain disclosure changes in the new guidance will be applied prospectively in the year of adoption. The remaining changes in the new guidance will be applied retrospectively to all periods presented in the year of adoption. As of December 31, 2019, the Company early adopted the guidance that removed the requirements relating to transfers between fair value hierarchy levels and certain disclosures about valuation processes for Level 3 fair value measurements. The Company will adopt the remainder of the guidance on January 1, 2020. The adoption of the new guidance will not be material to the Company’s financial position.

Other

On July 27, 2017, the Financial Conduct Authority (the “FCA”) announced that it intends to stop persuading or compelling banks to submit London Interbank Offered Rates (“LIBOR”) after December 31, 2021. In addition, separate workstreams are underway in Europe and the U.S. to reform existing reference rates and provide a fall back rate upon discontinuation of LIBOR. During 2019, the Alternative Rates Committee of the Federal Reserve Board proposed the Secured Overnight Financing Rate (“SOFR”) as an alternative rate to replace U.S. Dollar LIBOR, and the European Central Bank recommended the Euro Short-term Rate (“ESTER”) as the new risk-free rate. Other jurisdictions are conducting similar exercises as well. The Company is currently assessing the effects of the discontinuation of LIBOR on existing contracts that extend beyond 2021, by analyzing contractual fallback provisions, evaluating alternative rate ramifications, and assessing the effects on current hedging strategies.

During 2019, the FASB issued a proposed Accounting Standards Update (“ASU”) to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. The proposed ASU will provide optional expedients and exceptions for applying GAAP modification to contracts and hedge accounting relationships affected by reference rate reform on financial reporting. Under the proposed standard, a change in the reference rate for a contract that meets certain criteria will be accounted for as a continuation of that contract rather than the creation of a new contract. The proposed ASU will apply to debt, insurance contracts, leases, derivative contracts, and other arrangements. The FASB is expected to issue a final ASU in early 2020.

Derivative Instruments Derivative Instruments (Fair Value Hedge Attributable to Foreign Currency) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	$ (4)	$ (11)	$ 9
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	$ 0	$ 12	$ (9)

Investments (Mortgage Loans by Credit Quality Indicator) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 5,727	$ 4,983
Construction Loan	$ 0	$ 33
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%	100.00%
Greater than 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 5,454	$ 4,561
1.00x - 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	179	233
Less than 1.00x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	94	156
0% - 59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	3,084	2,524
Construction Loan	$ 0	$ 14
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	53.80%	50.60%
0% - 59.99% \| Greater than 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 3,025	$ 2,411
0% - 59.99% \| 1.00x - 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	52	61
0% - 59.99% \| Less than 1.00x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	7	38
60% - 69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,905	1,749
Construction Loan	$ 0	$ 19
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	33.30%	35.10%
60% - 69.99% \| Greater than 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 1,841	$ 1,618
60% - 69.99% \| 1.00x - 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	53	74
60% - 69.99% \| Less than 1.00x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	11	38
70% - 79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	544	516
Construction Loan	$ 0	$ 0
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	9.50%	10.40%
70% - 79.99% \| Greater than 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 492	$ 414
70% - 79.99% \| 1.00x - 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	13	48
70% - 79.99% \| Less than 1.00x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	39	54
Greater than 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	194	194
Construction Loan	$ 0	$ 0
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	3.40%	3.90%
Greater than 80% \| Greater than 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 96	$ 118
Greater than 80% \| 1.00x - 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	61	50
Greater than 80% \| Less than 1.00x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 37	$ 26

Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

Certain subsidiaries of the Company are sponsors or administrators of both qualified and non-qualified defined benefit pension plans (“Pension Plans”). The largest of these plans is a non-contributory qualified defined benefit pension plan sponsored by RGA Reinsurance Company (“RGA Reinsurance”) that covers U.S. employees. The benefits under the Pension Plans are generally based on years of service and compensation levels. Effective January 1, 2020, the qualified defined benefit pension plan and some of the non-qualified defined benefit pension plans were closed to new employees.

The Company also provides select health care and life insurance benefits for certain retired employees. The health care benefits are provided through a self-insured welfare benefit plan. Employees become eligible for these benefits if they meet minimum age and service requirements. The retiree’s cost for health care benefits varies depending upon the credited years of service. Effective January 1, 2017, employees hired in the U.S. are not eligible for retiree health care benefits. The effect of the amendment was recorded in 2016 in AOCI and is being amortized through prior service cost. Virtually all retirees, or their beneficiaries, contribute a portion of the total cost of postretirement health benefits. Prepaid benefit costs and accrued benefit liabilities are included in other assets and other liabilities, respectively, in the Company’s consolidated balance sheets.

A December 31 measurement date is used for all of the defined benefit and postretirement plans. The status of these plans as of December 31, 2019 and 2018 is summarized below (dollars in millions):



	December 31,
	Pension Benefits						Other Benefits
	2019			2018			2019			2018
Change in benefit obligation:
Benefit obligation at beginning of year	$	179		$	172		$	67		$	70
Service cost	13			13			3			3
Interest cost	7			5			3			2
Participant contributions	—			—			—			—
Actuarial (gains) losses	28			(1		)	15			(7		)
Benefits paid	(8		)	(8		)	(1		)	(1		)
Foreign exchange translations and other adjustments	1			(2		)	—			—
Benefit obligation at end of year	$	220		$	179		$	87		$	67



	December 31,
	Pension Benefits						Other Benefits
	2019			2018			2019			2018
Change in plan assets:
Fair value of plan assets at beginning of year	$	103		$	103		$	—		$	—
Actual return on plan assets	21			(6		)	—			—
Employer contributions	17			14			1			1
Participant contributions	—			—			—			—
Benefits paid and expenses	(8		)	(8		)	(1		)	(1		)
Fair value of plan assets at end of year	$	133		$	103		$	—		$	—
Funded status at end of year	$	(87	)	$	(76	)	$	(87	)	$	(67	)



	December 31,
	Qualified Plans						Non-Qualified Plans⁽¹⁾						Total
	2019			2018			2019			2018			2019			2018
Aggregate fair value of plan assets	$	133		$	103		$	—		$	—		$	133		$	103
Aggregate projected benefit obligations	139			112			81			67			220			179
Under funded	$	(6	)	$	(9	)	$	(81	)	$	(67	)	$	(87	)	$	(76	)


(1)	For non-qualified plans, there are no required funding levels.



	December 31,
	Pension Benefits				Other Benefits
	2019		2018		2019			2018
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss	$	59	$	49	$	39		$	26
Net prior service cost (credit)	—		—		(9		)	(10		)
Total	$	59	$	49	$	30		$	16



	2019		2018
Projected benefit obligation	$	220	$	179
Fair value of plan assets	133		103

The following table presents information for pension plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2019 and 2018 (dollars in millions):



	2019		2018
Accumulated benefit obligation	$	212	$	174
Fair value of plan assets	133		103



	Pension Benefits									Other Benefits
	2019			2018			2017			2019			2018			2017
Net periodic benefit cost:
Service cost	$	13		$	13		$	11		$	3		$	3		$	2
Interest cost	7			5			5			3			2			2
Expected return on plan assets	(7		)	(8		)	(6		)	—			—			—
Amortization of net actuarial losses	4			4			4			1			2			2
Amortization of prior service cost (credit)	—			—			—			(1		)	(1		)	(1		)
Settlements	—			—			5			—			—			—
Net periodic benefit cost	17			14			19			6			6			5


Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gains) losses	14			13			2			14			(7		)	6
Amortization of net actuarial (losses)	(4		)	(4		)	(4		)	(1		)	(2		)	(2		)
Amortization of prior service (cost) credit	—			—			—			1			1			1
Settlements	—			—			(5		)	—			—			—
Foreign exchange translations and other adjustments	—			—			1			—			—			—
Total recognized in other comprehensive income	10			9			(6		)	14			(8		)	5
Total recognized in net periodic benefit cost and other comprehensive income	$	27		$	23		$	13		$	20		$	(2	)	$	10

During 2020, the Company expects to contribute $18 million and $2 million to the pension plans and other benefit plans, respectively.

The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (dollars in millions):



	Pension Benefits		Other Benefits
2020	$	11	$	2
2021	11		2
2022	13		2
2023	13		3
2024	14		3
2025-2029	83		21

Assumptions

Weighted average assumptions used to determine the accumulated benefit obligation and net benefit cost or income were as follows:



	Pension Benefits						Other Benefits
	2019		2018		2017		2019		2018		2017
Discount rate used to determine benefit obligation	3.05	%	4.02	%	3.40	%	3.17	%	4.17	%	3.56	%
Discount rate used to determine net benefit cost or income	4.03	%	3.41	%	3.81	%	4.17	%	3.56	%	4.10	%
Expected long-term rate of return on plan assets	7.00	%	7.35	%	7.35	%	—	%	—	%	—	%
Rate of compensation increases	4.61	%	4.17	%	4.16	%	—	%	—	%	—	%

The expected rate of return on plan assets is based on anticipated performance of the various asset sectors in which the plan invests, weighted by target allocation percentages. Anticipated future performance is based on long-term historical returns of the plan assets by sector, adjusted for the long-term expectations on the performance of the markets. While the precise expected return derived using this approach may fluctuate from year to year, the policy is to hold this long-term assumption constant as long as it remains within reasonable tolerance from the derived rate. This process is consistent for all plan assets as all the assets are invested in mutual funds.

The assumed health care cost trend rates used in measuring the accumulated non-pension post-retirement benefit obligation were as follows:



	December 31,
	2019	2018
Pre-Medicare eligible claims	8% down to 4.5% in 2026	8% down to 5% in 2024
Medicare eligible claims	8% down to 4.5% in 2026	8% down to 5% in 2024

Plan Assets

Target allocations of U.S. qualified pension plan assets are determined with the objective of maximizing returns and minimizing volatility of net assets through adequate asset diversification and partial liability immunization. Adjustments are made to target allocations based on the Company’s assessment of the effect of economic factors and market conditions. The target allocations for plan assets are 60% equity securities and 40% debt securities as of December 31, 2019 and 2018. The Company’s plan assets are primarily invested in mutual funds. The mutual funds include holdings of S&P 500 securities, large-cap securities, mid-cap securities, small-cap securities, international securities, corporate debt securities, U.S. and other government securities, mortgage-related securities and cash.

Equity and debt securities are exposed to various risks, such as interest rate risk, credit risk and overall market volatility. Due to the level of risk associated with certain investment securities, changes in the values of investment securities will occur and any change would affect the amounts reported in the financial statements.

The fair values of the Company’s qualified pension plan assets as of December 31, 2019 and 2018 are summarized below (dollars in millions):



	December 31, 2019
			Fair Value Measurement Using:
	Total		Level 1		Level 2		Level 3
Mutual Funds⁽¹⁾	$	133	$	133	$	—	$	—
Cash	—		—		—		—
Total	$	133	$	133	$	—	$	—


(1)	Mutual funds were invested 27% in U.S. equity funds, 39% in U.S. fixed income funds, 18% in non-U.S. equity funds and 16% in other.



	December 31, 2018
			Fair Value Measurement Using:
	Total		Level 1		Level 2		Level 3
Mutual Funds⁽²⁾	$	103	$	103	$	—	$	—
Cash	—		—		—		—
Total	$	103	$	103	$	—	$	—


(2)	Mutual funds were invested 25% in U.S. equity funds, 42% in U.S. fixed income funds, 17% in non-U.S. equity funds and 16% in other.

As of December 31, 2019 and 2018, the Company classified all of its qualified pension plan assets in the Level 1 category as quoted prices in active markets are available for these assets. See Note 6 – “Fair Value of Asset and Liabilities” for additional detail on the fair value hierarchy.

Savings and Investment Plans

Certain subsidiaries of RGA also sponsor savings and investment plans under which a portion of employee contributions are matched. Subsidiary contributions to these plans were $16 million, $15 million and $14 million in 2019, 2018 and 2017, respectively.

Segment Information (Reconciliation of Depreciation and Amortization from Segment to Consolidated) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	$ 609	$ 574	$ 706
Americas [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	434	368	494
Canada Segment Reporting Information [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	20	22	24
EMEA [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	57	45	35
Asia Pacific [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	76	117	115
Corporate and Other [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	22	22	38
Life Insurance Product Line [Member] \| Americas [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	291	273	285
Life Insurance Product Line [Member] \| Canada Segment Reporting Information [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	20	22	24
Life Insurance Product Line [Member] \| EMEA [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	56	45	35
Life Insurance Product Line [Member] \| Asia Pacific [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	60	115	114
Insurance, Other [Member] \| Americas [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	143	95	209
Insurance, Other [Member] \| Canada Segment Reporting Information [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	0	0	0
Insurance, Other [Member] \| EMEA [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	1	0	0
Insurance, Other [Member] \| Asia Pacific [Member]
Depreciation, Depletion and Amortization [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	$ 16	$ 2	$ 1

Derivative Instruments (Hedges of Net Investments in Foreign Operations) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Currency Swap [Member]

Derivatives, Fair Value [Line Items]

Gains Losses Deferred In Accumulated Other Comprehensive Income Loss On Derivatives

^[1]

$ (9)

$ 31

$ (38)

Foreign Exchange Forward [Member]

Derivatives, Fair Value [Line Items]

Gains Losses Deferred In Accumulated Other Comprehensive Income Loss On Derivatives

^[1]

$ (24)

$ 56

$ (10)

[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.

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share on net income (in millions, except per share information):



	2019		2018		2017
Earnings:
Net income (numerator for basic and diluted calculations)	$	870	$	716	$	1,822
Shares:
Weighted average outstanding shares (denominator for basic calculations)	62,684		63,658		64,427
Equivalent shares from outstanding stock options	1,198		1,436		1,326
Diluted shares (denominator for diluted calculations)	63,882		65,094		65,753
Earnings per share:
Basic	$	13.88	$	11.25	$	28.28
Diluted	13.62		11.00		27.71

The calculation of common equivalent shares does not include the impact of options having a strike or conversion price that exceeds the average stock price for the earnings period, as the result would be antidilutive. The calculation of common equivalent shares also excludes the impact of outstanding performance contingent shares, as the conditions necessary for their issuance have not been satisfied as of the end of the reporting period. Approximately 0.2 million, 0.1 million, and 0.2 million outstanding stock options and approximately 0.3 million, 0.4 million and 0.3 million performance contingent shares were excluded from the calculation of common equivalent shares during 2019, 2018 and 2017, respectively.

Investments (Borrowed Securities Repurchased Securities And Repurchased Reversed Repurchased Securities) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Securities Received as Collateral	$ 107	$ 112
Securities for Reverse Repurchase Agreements	356	554
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	370	531
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	1	29
Estimate of Fair Value Measurement [Member]
Debt Securities, Available-for-sale [Line Items]
Securities Borrowed	369	367
Securities Loaned, Fair Value of Collateral	104	103
Securities for Reverse Repurchase Agreements	384	554
Reported Value Measurement [Member]
Debt Securities, Available-for-sale [Line Items]
Securities Borrowed	339	336
Securities Loaned, Fair Value of Collateral	$ 98	$ 102

Income Tax (Provision for Income Tax Expense Computed from Statutory Rate to Pre-tax Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Amount	$ (8)	$ (6)	$ (10)
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	238	178	400
Tax Adjustments, Settlements, and Unusual Provisions	0	(62)	(1,034)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	2	4	(22)
Income Tax Reconciliation Foreign Income Tax Basis Differential	(23)	(23)	(23)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	56	23	29
Effective Income Tax Rate Reconciliation, Tax Contingency, Domestic, Amount	8	1	(7)
Income Tax Reconciliation Change In Foreign Enacted Tax Rate	(1)	1	(6)
Gilti Net of Credits	0	10	0
Income Tax Reconciliation Subpart F	1	1	2
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount	(6)	(3)	(2)
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	(6)	(1)	(5)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	1	7	(1)
Income Tax Expense (Benefit)	$ 262	$ 130	$ (679)
Effective Income Tax Rate Reconciliation, Percent	23.10%	15.40%	(59.40%)

Quarterly Results of Operations (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information [Table Text Block]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)



Years Ended December 31,
(in millions, except per share data)
2019	First		Second		Third		Fourth
Total Revenues	$	3,420	$	3,467	$	3,628	$	3,785
Total benefits and expenses	3,203		3,207		3,281		3,477
Income before income taxes	217		260		347		308
Net Income	170		202		263		235
Earnings Per Share:
Basic earnings per share	$	2.70	$	3.23	$	4.19	$	3.75
Diluted earnings per share	2.65		3.18		4.12		3.68
2018	First		Second		Third		Fourth
Total Revenues	$	3,174	$	3,196	$	3,227	$	3,279
Total benefits and expenses	3,036		2,949		2,904		3,141
Income before income taxes	138		247		323		138
Net Income	100		205		301		110
Earnings Per Share:
Basic earnings per share	$	1.55	$	3.19	$	4.76	$	1.75
Diluted earnings per share	1.52		3.13		4.68		1.72

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of December 31, 2019 and 2018 (dollars in millions):



		December 31, 2019						December 31, 2018
	Primary Underlying Risk	Notional		Carrying Value/Fair Value				Notional		Carrying Value/Fair Value
	Primary Underlying Risk	Amount		Assets		Liabilities		Amount		Assets		Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps	Interest rate	$	909	$	70	$	3	$	1,041	$	47	$	1
Financial futures	Equity	307		—		—		326		—		—
Foreign currency swaps	Foreign currency	150		—		9		150		1		5
Foreign currency forwards	Foreign currency	175		1		—		25		—		—
CPI swaps	CPI	441		—		28		386		—		11
Credit default swaps	Credit	1,306		5		—		1,338		6		1
Equity options	Equity	364		15		—		439		43		—
Longevity swaps	Longevity	—		—		—		917		48		—
Mortality swaps	Mortality	—		—		—		25		—		—
Synthetic GICs	Interest rate	13,823		—		—		13,397		—		—
Embedded derivatives in:
Modco or funds withheld arrangements		—		121		—		—		110		—
Indexed annuity products		—		—		767		—		—		777
Variable annuity products		—		—		163		—		—		168
Total non-hedging derivatives		17,475		212		970		18,044		255		963
Derivatives designated as hedging instruments:
Interest rate swaps	Foreign currency/Interest rate	535		1		29		435		—		27
Foreign currency swaps	Foreign currency	342		17		2		495		51		—
Foreign currency forwards	Foreign currency	1,094		28		2		911		51		—
Total hedging derivatives		1,971		46		33		1,841		102		27
Total derivatives		$	19,446	$	258	$	1,003	$	19,885	$	357	$	990

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The gain or loss on the hedged item attributable to a change in foreign currency and the offsetting gain or loss on the related foreign currency swaps as of December 31, 2019, 2018 and 2017 were (dollars in millions):



Type of Fair Value Hedge	Hedged Item	Gains (Losses) Recognized for Derivatives			Gains (Losses) Recognized for Hedged Items
		Investment Related Gains (Losses)
For the Year Ended December 31, 2019:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(4	)	$	—
For the Year Ended December 31, 2018:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(11	)	$	12
For the Year Ended December 31, 2017:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	9		$	(9	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The following table presents the components of AOCI, before income tax, and the consolidated income statement classification where the gain or loss is recognized related to cash flow hedges for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):



	Amounts Included in AOCI
Balance December 31, 2016	$	(2	)
Gains (losses) deferred in other comprehensive income (loss)	6
Amounts reclassified to investment related (gains) losses, net	(1		)
Amounts reclassified to investment income	—
Amounts reclassified to interest expense	—
Balance December 31, 2017	3
Gains (losses) deferred in other comprehensive income (loss)	6
Amounts reclassified to investment income	—
Amounts reclassified to interest expense	—
Balance December 31, 2018	9
Gains (losses) deferred in other comprehensive income (loss)	(34		)
Amounts reclassified to investment income	—
Amounts reclassified to interest expense	(1		)
Balance December 31, 2019	$	(26	)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table presents the effect of derivatives in cash flow hedging relationships on the consolidated statements of income and the consolidated statements of stockholders’ equity for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):



Derivative Type	Gains (Losses) Deferred in OCI			Gains (Losses) Reclassified into Income from OCI
For the year ended December 31, 2019:				Investment Related Gains (Losses)		Investment Income		Interest Expense
Interest rate	$	(32	)	$	—	$	—	$	1
Foreign currency/Interest rate	(2		)	—		—		—
Forward bond purchase commitments	—			—		—		—
Total	$	(34	)	$	—	$	—	$	1

For the year ended December 31, 2018:
Interest rate	$	12		$	—	$	—	$	—
Foreign currency/Interest rate	(6		)	—		—		—
Forward bond purchase commitments	—			—		—		—
Total	$	6		$	—	$	—	$	—

For the year ended December 31, 2017:
Interest rate	$	(6	)	$	—	$	—	$	—
Foreign currency/Interest rate	12			—		—		—
Forward bond purchase commitments	—			1		—		—
Total	$	6		$	1	$	—	$	—

Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):



	Derivative Gains (Losses) Deferred in AOCI
	For the year ended
Type of NIFO Hedge ⁽¹⁾	2019			2018		2017
Foreign currency swaps	$	(9	)	$	31	$	(38	)
Foreign currency forwards	(24		)	56		(10		)


(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.

Derivative Instruments Gain Loss By Income Statement Location [Table Text Block]

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, 2019, 2018 and 2017 is as follows (dollars in millions):



		Gains (Losses) for the Years Ended December 31,
Type of Non-hedging Derivative	Income Statement Location of Gains (Losses)	2019			2018			2017
Interest rate swaps	Investment related gains (losses), net	$	65		$	(21	)	$	11
Financial futures	Investment related gains (losses), net	(46		)	21			(36		)
Foreign currency swaps	Investment related gains (losses), net	—			(4		)	—
Foreign currency forwards	Investment related gains (losses), net	1			—			1
Consumer price index swaps	Investment related gains (losses), net	(18		)	(10		)	(2		)
Credit default swaps	Investment related gains (losses), net	30			(2		)	18
Equity options	Investment related gains (losses), net	(40		)	7			(43		)
Longevity swaps	Other revenues	13			9			9
Mortality swaps	Other revenues	(1		)	—			(1		)
Subtotal		4			—			(43		)
Embedded derivatives in:
Modco or funds withheld arrangements	Investment related gains (losses), net	11			(13		)	145
Indexed annuity products	Interest credited	(57		)	27			(80		)
Variable annuity products	Investment related gains (losses), net	5			(15		)	32
Total non-hedging derivatives		$	(37	)	$	(1	)	$	54

Disclosure Of Credit Derivatives [Table Text Block]

The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of credit default swaps sold by the Company as of December 31, 2019 and 2018 (dollars in millions):



	2019					2018
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+/AA/AA-/A+/A/A-
Single name credit default swaps	$	2	$	142	1.7	$	2	$	152	2.2
Subtotal	2		142		1.7	2		152		2.2
BBB+/BBB/BBB-
Single name credit default swaps	3		291		1.9	3		354		2.2
Credit default swaps referencing indices	—		873		4.7	—		817		6.4
Subtotal	3		1,164		4.0	3		1,171		5.1
BB+/BB/BB-
Single name credit default swaps	—		—		0.0	—		15		0.7
Subtotal	—		—		0.0	—		15		0.7
Total	$	5	$	1,306	3.7	$	5	$	1,338	4.7


(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.

Offsetting Assets [Table Text Block]

The following table provides information relating to the netting of the Company’s derivative instruments as of December 31, 2019 and December 31, 2018 (dollars in millions):



								Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments⁽¹⁾			Cash Collateral Pledged/ Received			Net Amount
December 31, 2019:
Derivative assets	$	137	$	(20	)	$	117	$	—		$	(119	)	$	(2	)
Derivative liabilities	73		(20		)	53		(92		)	(52		)	(91		)
December 31, 2018:
Derivative assets	$	247	$	(19	)	$	228	$	—		$	(235	)	$	(7	)
Derivative liabilities	45		(19		)	26		(71		)	(24		)	(69		)

Offsetting Liabilities [Table Text Block]

The following table provides information relating to the netting of the Company’s derivative instruments as of December 31, 2019 and December 31, 2018 (dollars in millions):



								Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments⁽¹⁾			Cash Collateral Pledged/ Received			Net Amount
December 31, 2019:
Derivative assets	$	137	$	(20	)	$	117	$	—		$	(119	)	$	(2	)
Derivative liabilities	73		(20		)	53		(92		)	(52		)	(91		)
December 31, 2018:
Derivative assets	$	247	$	(19	)	$	228	$	—		$	(235	)	$	(7	)
Derivative liabilities	45		(19		)	26		(71		)	(24		)	(69		)

Reinsurance (Effect of Reinsurance on Net Premiums and Claims and Other Policy Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Premiums Earned, Net [Abstract]
Direct Premiums Earned	$ 76.1	$ 62.5	$ 61.6
Assumed Premiums Earned	12,149.7	11,341.3	10,642.4
Ceded Premiums Earned	(928.6)	(860.0)	(862.9)
Net premiums	11,297.2	10,543.8	9,841.1
Policyholder Benefits and Claims Incurred, Net [Abstract]
Policyholder Benefits and Claims Incurred, Direct	113.0	107.0	104.0
Policyholder Benefits and Claims Incurred, Assumed	11,404.0	9,997.0	9,282.0
Policyholder Benefits and Claims Incurred, Ceded	(1,320.0)	(785.0)	(867.0)
Claims and other policy benefits	$ 10,197.0	$ 9,319.0	$ 8,519.0

Supplemental Schedule of Reinsurance

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]

Reinsurance

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE IV—REINSURANCE

(in millions)



	As of or for the Year ended December 31,
	Gross Amount		Ceded to Other Companies		Assumed from Other Companies		Net Amounts		Percentage of Amount Assumed to Net
2019
Life insurance in force	$	1,316	$	192,864	$	3,480,206	$	3,288,658	105.8	%
Premiums
U.S. and Latin America:
Traditional	$	29.4	$	590.8	$	6,291.0	5,729.6		109.8	%
Financial Solutions	1.8		—		37.0		38.8		95.4
Canada:
Traditional	—		53.8		1,119.5		1,065.7		105.0
Financial Solutions	—		—		88.9		88.9		100.0
Europe, Middle East and Africa:
Traditional	44.7		52.7		1,449.4		1,441.4		100.6
Financial Solutions	0.2		148.4		366.4		218.2		167.9
Asia Pacific:
Traditional	—		82.9		2,651.5		2,568.6		103.2
Financial Solutions	—		—		146.0		146.0		100.0
Total	$	76.1	$	928.6	$	12,149.7	$	11,297.2	107.5
2018
Life insurance in force	$	1,363	$	186,172	$	3,329,181	$	3,144,372	105.9	%
Premiums
U.S. and Latin America:
Traditional	$	31.6	$	593.7	$	6,095.4	$	5,533.3	110.2	%
Financial Solutions	4.7		—		22.5		27.2		82.7
Canada:
Traditional	—		46.9		1,070.9		1,024.0		104.6
Financial Solutions	—		—		43.4		43.4		100.0
Europe, Middle East and Africa:
Traditional	26.0		25.9		1,423.1		1,423.2		100.0
Financial Solutions	0.2		143.7		338.8		195.3		173.5
Asia Pacific:
Traditional	—		49.8		2,346.2		2,296.4		102.2
Financial Solutions	—		—		0.9		0.9		100.0
Corporate and Other	—		—		0.1		0.1		100.0
Total	$	62.5	$	860.0	$	11,341.3	$	10,543.8	107.6
2017
Life insurance in force	$	1,462	$	205,529	$	3,297,275	$	3,093,208	106.6	%
Premiums
U.S. and Latin America:
Traditional	$	30.5	$	610.4	$	5,936.2	$	5,356.3	110.8	%
Financial Solutions	4.3		—		19.4		23.7		81.9
Canada:
Traditional	—		38.1		940.1		902.0		104.2
Financial Solutions	—		—		38.2		38.2		100.0
Europe, Middle East and Africa:
Traditional	26.6		34.9		1,310.0		1,301.7		100.6
Financial Solutions	0.2		125.0		288.5		163.7		176.2
Asia Pacific:
Traditional	—		54.5		2,107.5		2,053.0		102.7
Financial Solutions	—		—		2.4		2.4		100.0
Corporate and Other	—		—		0.1		0.1		100.0
Total	$	61.6	$	862.9	$	10,642.4	$	9,841.1	108.1

Reinsurance (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Reinsurance (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Effects of Reinsurance [Line Items]
Maximum Life Insurance Retention Per Individual Life	$ 8
Reinsurance ceded receivables	904	$ 758
Reinsurance Claims Recoverables	223	243
Claims Recoverable From Retrocessionaires Past Due	15	17
Statutory Financial Reinsurance	22,700	18,100
Assets Held-in-trust	694	768
Benefit Of RGA Subsidiaries [Member]
Effects of Reinsurance [Line Items]
Assets Held-in-trust	3,300	2,900
Benefit Of Third Parties [Member]
Effects of Reinsurance [Line Items]
Assets Held-in-trust	$ 27,300	$ 20,100
AM Best, A- Rating [Member]
Effects of Reinsurance [Line Items]
Retrocession Pool Participants Minimum AM Best Rating	“A- (excellent)”

Investments (Impaired Mortgage Loans) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Financing Receivable, Impaired [Line Items]

Impaired Financing Receivable, Unpaid Principal Balance

$ 17

$ 31

Impaired Financing Receivable, Recorded Investment

Impaired Financing Receivable, Related Allowance

Impaired Financing Receivable Net Of Related Allowance

Impaired Financing Receivable, Average Recorded Investment

^[1]

$ 4

Impaired Financing Receivable, Interest Income, Accrual Method

Impaired mortgage loans with no valuation allowance recorded

Financing Receivable, Impaired [Line Items]

Impaired Financing Receivable, Unpaid Principal Balance

Impaired Financing Receivable, Recorded Investment

Impaired Financing Receivable, Related Allowance

Impaired Financing Receivable Net Of Related Allowance

Impaired Financing Receivable, Average Recorded Investment

^[1]

Impaired Financing Receivable, Interest Income, Accrual Method

Impaired mortgage loans with valuation allowance recorded

Financing Receivable, Impaired [Line Items]

Impaired Financing Receivable, Unpaid Principal Balance

Impaired Financing Receivable, Recorded Investment

Impaired Financing Receivable, Related Allowance

Impaired Financing Receivable Net Of Related Allowance

Impaired Financing Receivable, Average Recorded Investment

^[1]

Impaired Financing Receivable, Interest Income, Accrual Method

$ 0

[1]	Average recorded investment represents the average loan balances as of the beginning of period and all subsequent quarterly end of period balances.

Equity (Components of Other Comprehensive Income) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax

$ 113

$ (148)

$ 75

Other Comprehensive Income (Loss), Foreign Currency Translation Gain (Loss) Arising During Period, Tax

(10)

(1)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax

103

(149)

100

Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Foreign Currency Swap, Before Reclassification and Tax

(33)

(48)

Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Foreign Currency Swap Tax

(18)

Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Foreign Currency Swap Net Of Tax

(26)

(31)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax

(61)

Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax

(3)

(19)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

(80)

Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, before Tax

^[1]

3,208

(1,834)

1,030

Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax

^[1]

(698)

394

(314)

Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax

^[1]

2,510

(1,440)

716

Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, before Tax

^[1]

(122)

Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Tax

^[1]

(17)

(7)

Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax

^[1]

(96)

Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, before Reclassification Adjustments and Tax

^[1]

3,124

(1,712)

1,005

Other Comprehensive Income (Loss), Available-for-sale Securities, before Reclassification Adjustments, Tax

^[1]

(681)

368

(307)

Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax

^[1]

2,443

(1,344)

698

Other than Temporary Impairment Loss, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent, Available-for-sale Securities

Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, Tax, Portion Attributable to Parent, Available-for-sale Securities

Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, Net of Tax, Portion Attributable to Parent, Available-for-sale Securities

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax

(1)

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax

(4)

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax

(1)

Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax

(23)

(11)

Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax

Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax

(18)

(7)

Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax

(24)

Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax

Defined benefit pension and postretirement plan adjustments

(19)

Other Comprehensive Income (Loss), before Tax

3,180

(1,773)

1,033

Other Comprehensive Income (Loss), Tax

(679)

349

(265)

Other Comprehensive Income (Loss), Net of Tax

$ 2,501

$ (1,424)

$ 768

[1]	Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Segment Information (Reconciliation of Revenue from Segments to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 3,785	$ 3,628	$ 3,467	$ 3,420	$ 3,279	$ 3,227	$ 3,196	$ 3,174	$ 14,300	$ 12,876	$ 12,516
Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									7,779	7,203	7,251
Canada Segment Reporting Information [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									1,385	1,273	1,152
EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									1,970	1,845	1,673
Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									2,909	2,471	2,284
Corporate and Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									257	84	156
Life Insurance Product Line [Member] \| Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									6,500	6,296	6,100
Life Insurance Product Line [Member] \| Canada Segment Reporting Information [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									1,286	1,224	1,103
Life Insurance Product Line [Member] \| EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									1,520	1,495	1,362
Life Insurance Product Line [Member] \| Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									2,681	2,417	2,210
Insurance, Other [Member] \| Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									1,279	907	1,151
Insurance, Other [Member] \| Canada Segment Reporting Information [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									99	49	49
Insurance, Other [Member] \| EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									450	350	311
Insurance, Other [Member] \| Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									$ 228	$ 54	$ 74

Policy Claims and Benefits (Reconciliation of Claims Development to Liability) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments	$ 564	$ 433	$ 456	$ 395
Short-duration Insurance Contract, Discounted Liability, Discount	114
Short-duration Insurance Contracts, Liability for Unpaid Claims and Claim Adjustment Expense, Other Reconciling Item	2,295
Short-duration Insurance Contracts, Liability for Unpaid Claims and Claim Adjustment Expense, Aggregate Reconciling Items	4,491
Liability for Claims and Claims Adjustment Expense	6,786	$ 6,585	$ 5,896	$ 5,181
Canada Segment Reporting Information [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Short-duration Insurance Contracts, Liability for Unpaid Claims and Claim Adjustment Expense, Other Reconciling Item	131
EMEA [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Short-duration Insurance Contracts, Liability for Unpaid Claims and Claim Adjustment Expense, Other Reconciling Item	438
Corporate And Other Segment Reporting Information [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Short-duration Insurance Contracts, Liability for Unpaid Claims and Claim Adjustment Expense, Other Reconciling Item	224
Life Insurance Product Line [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net	1,616
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments	14
Short-duration Insurance Contract, Discounted Liability, Discount for Reinsurance	(134)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Claims Adjustment Expense, Accumulated Unallocated Claim Adjustment Expense	6
Life Insurance Product Line [Member] \| Americas [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net	819
Life Insurance Product Line [Member] \| Asia Pacific [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net	$ 797

Reinsurance Reinsurance (Ceded Reinsurance Receivable Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 904	$ 758
Reinsurance Recoverables, Percentage of Total	100.00%	100.00%
Other Reinsurers [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 149	$ 115
Reinsurance Recoverables, Percentage of Total	16.40%	15.20%
AM Best, A+ Rating [Member] \| Reinsurer A [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 367	$ 303
Reinsurance Recoverables, Percentage of Total	40.60%	40.00%
AM Best, A+ Rating [Member] \| Reinsurer B [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 208	$ 193
Reinsurance Recoverables, Percentage of Total	23.00%	25.50%
AM Best, A+ Rating [Member] \| Reinsurer D [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 53	$ 37
Reinsurance Recoverables, Percentage of Total	5.90%	4.80%
AM Best, A Rating [Member] \| Reinsurer C [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 84	$ 70
Reinsurance Recoverables, Percentage of Total	9.30%	9.20%
AM Best, A++ Rating [Member] \| Reinsurer E [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 43	$ 40
Reinsurance Recoverables, Percentage of Total	4.80%	5.30%

Fair Value of Assets and Liabilities (Fair Value Assets Measured on Non-Recurring Basis) (Details) - Partnership Interest [Member] - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

^[1]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Assets Carrying Value Prior To Impairment

$ 18

$ 5

Fair Value Assets Gains Losses

$ (11)

$ (3)

[1]

Impairments on these investments were recognized at estimated fair value determined using the net asset values of the Company’s ownership interest as provided in the financial statements of the investees. Real estate joint ventures were recognized at estimated fair value determined using historical and forecasted information for specific properties, including net operating income, occupancy, and sales levels. The market for these investments has limited activity and price transparency

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2019

Reinsurance Disclosures [Abstract]

Ceded Credit Risk [Table Text Block]



		2019				2018
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Reinsurer A	A+	$	367	40.6	%	$	303	40.0	%
Reinsurer B	A+	208		23.0		193		25.5
Reinsurer C	A	84		9.3		70		9.2
Reinsurer D	A++	53		5.9		37		4.8
Reinsurer E	A+	43		4.8		40		5.3
Other reinsurers		149		16.4		115		15.2
Total		$	904	100.0	%	$	758	100.0	%

Reinsurance Premium And Effect On Claims And Other Policy Benefits [Table Text Block]

The effect of reinsurance on net premiums is as follows (dollars in millions):



Years ended December 31,	2019			2018			2017
Direct insurance	$	76		$	63		$	62
Reinsurance assumed	12,150			11,341			10,642
Reinsurance ceded	(929		)	(860		)	(863		)
Net premiums	$	11,297		$	10,544		$	9,841

The effect of reinsurance on claims and other policy benefits as follows (dollars in millions):



Years ended December 31,	2019			2018			2017
Direct insurance	$	113		$	107		$	104
Reinsurance assumed	11,404			9,997			9,282
Reinsurance ceded	(1,320		)	(785		)	(867		)
Net claims and other policy benefits	$	10,197		$	9,319		$	8,519

Reinsurance Information [Table Text Block]

The effect of reinsurance on life insurance in force is shown in the following schedule (dollars in millions):



	Direct		Assumed		Ceded		Net		Assumed/Net %
December 31, 2019	$	1,316	$	3,480,206	$	192,864	$	3,288,658	105.8	%
December 31, 2018	1,363		3,329,181		186,172		3,144,372		105.9
December 31, 2017	1,462		3,297,275		205,529		3,093,208		106.6

Document and Entity Information Document Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Document And Entitiy Information [Abstract]
Entity Incorporation, State or Country Code	MO
Document type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Amendment flag	false
Entity registrant name	REINSURANCE GROUP OF AMERICA, INCORPORATED
Entity central index key	0000898174
Entity current reporting status	Yes
Entity Interactive Data Current	Yes
Entity voluntary filers	No
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Entity well known seasoned issuer	Yes
Common Shares Outstanding		62,583,958
Entity public float			$ 9.8
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Transition Report	false
Entity File Number	1-11848
Entity Tax Identification Number	43-1627032

Summary of Investments Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]

Summary of Investments Other Than Investments in Related Parties

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE I-SUMMARY OF INVESTMENTS-OTHER THAN

INVESTMENTS IN RELATED PARTIES

December 31, 2019

(in millions)



Type of Investment	Amortized Cost		Estimated Fair Value		Amount at Which Shown in the Balance Sheets⁽¹⁾
Fixed maturity securities:
United States government and government agencies and authorities	$	2,096	$	2,152	$	2,152
State and political subdivisions	1,074		1,164		1,164
Foreign governments⁽²⁾	7,225		9,137		9,137
Public utilities	3,617		3,937		3,937
Mortgage-backed and asset-backed securities	7,153		7,275		7,275
All other corporate bonds	25,588		27,456		27,456
Total fixed maturity securities	$	46,753	$	51,121	$	51,121

Equity securities	$	332	$	320	$	320
Mortgage loans on real estate	5,706				5,706
Policy loans	1,319				1,319
Funds withheld at interest	5,662				5,662
Short-term investments	64				64
Other invested assets	2,363				2,363
Total investments	$	62,199			$	66,555


(1)	Fixed maturity securities are classified as available-for-sale and carried at fair value.

(2)

Includes fixed maturities directly issued by foreign governments, supranational and foreign government-sponsored enterprises.

Income Tax

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax

INCOME TAX

The effective tax rate for 2019 was higher than the U.S. Statutory rate of 21.0% primarily as a result of valuation allowance increases in various jurisdictions and tax expense related to uncertain tax positions, which were partially offset by foreign bases differences, excess tax benefit of equity compensation and tax benefit from foreign tax credits. The effective tax rate for 2018 was lower than the U.S. Statutory rate of 21% primarily as a result of the release of a valuation allowance on foreign tax credits and foreign bases differences, which was partially offset by tax expense related to GILTI and valuation allowance increases. The 2017 effective tax rate includes the tax effects of U.S. Tax Reform. See the table below for additional information.

Pre-tax income for the years ended December 31, 2019, 2018 and 2017 consists of the following (dollars in millions):



	2019		2018		2017
Pre-tax income - U.S.	$	871	$	626	$	871
Pre-tax income - foreign	261		220		272
Total pre-tax income	$	1,132	$	846	$	1,143

The provision for income tax expense for the years ended December 31, 2019, 2018 and 2017 consists of the following (dollars in millions):



	2019			2018			2017
Current income tax expense (benefit):
U.S.	$	(9	)	$	78		$	131
U.S. Tax Reform	—			(68		)	—
Foreign	60			43			37
Total current	51			53			168
Deferred income tax expense (benefit):
U.S.	182			63			160
U.S. Tax Reform	—			6			(1,034		)
Foreign	29			8			27
Total deferred	211			77			(847		)
Total provision for income taxes	$	262		$	130		$	(679	)

The Company’s effective tax rate differed from the U.S. federal income tax statutory rate of 21%, 21%, and 35% as a result of the following for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):



	2019			2018			2017
Tax provision at U.S. statutory rate	$	238		$	178		$	400
Increase (decrease) in income taxes resulting from:
U.S. Tax Reform	—			(62		)	(1,034		)
Foreign tax rate differing from U.S. tax rate	2			4			(22		)
Differences in tax basis in foreign jurisdictions	(23		)	(23		)	(23		)
Deferred tax valuation allowance	56			23			29
Amounts related to audit contingencies	8			1			(7		)
Equity compensation excess benefit	(8		)	(6		)	(10		)
Corporate rate changes	(1		)	1			(6		)
GILTI, net of credits	—			10			—
Subpart F for non-full inclusion companies	1			1			2
Foreign tax credits	(6		)	(3		)	(2		)
Return to provision adjustments	(6		)	(1		)	(5		)
Other, net	1			7			(1		)
Total provision for income taxes	$	262		$	130		$	(679	)
Effective tax rate	23.1		%	15.4		%	(59.4		)%

Total income taxes for the years ended December 31, 2019, 2018 and 2017 were as follows (dollars in millions):



	2019			2018			2017
Provision for income taxes	$	262		$	130		$	(679	)
Income tax from OCI and additional paid-in-capital:
Net unrealized holding gain (loss) on debt and equity securities recognized for financial reporting purposes	681			(368		)	307
Foreign currency translation	3			19			(42		)
Unrealized pension and post retirement	(5		)	—			—
Total income taxes provided	$	941		$	(219	)	$	(414	)

The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and liabilities at December 31, 2019 and 2018, are presented in the following tables (dollars in millions):



	2019			2018
Deferred income tax assets:
Nondeductible accruals	$	100		$	86
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	105			102
Differences in the tax basis of cash and invested assets	—			28
Investment income differences	7			80
Deferred acquisition costs capitalized for tax	127			125
Net operating loss carryforward	330			406
Capital loss and tax credit carryforwards	38			33
Subtotal	707			860
Valuation allowance	(236		)	(181		)
Total deferred income tax assets	471			679
Deferred income tax liabilities:
Deferred acquisition costs capitalized for financial reporting	797			843
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	1,293			1,152
Differences in the tax basis of cash and invested assets	991			346
Investment income differences	—			9
Differences in foreign currency translation	52			53
Anticipated future tax credit reduction	26			25
Total deferred income tax liabilities	3,159			2,428
Net deferred income tax liabilities	$	2,688		$	1,749
Balance sheet presentation of net deferred income tax liabilities:
Included in other assets	$	24		$	50
Included in deferred income taxes	2,712			1,799
Net deferred income tax liabilities	$	2,688		$	1,749

As of December 31, 2019, the valuation allowance against deferred tax assets was $236 million. During 2019 there was a $44 million increase to the valuation allowance related to the tax losses of RGA Reinsurance Company of Australia Limited ("RGA Australia"). RGA Australia's tax loss primarily relates to income on internal retrocession that is not taxable in RGA Australia. The RGA Australia deferred tax asset has been reduced to the amount more likely than not to be realized considering the projected future earnings. The valuation allowance also increased due to losses in jurisdictions where the company does not have a recent history of earnings including China and Spain. These increases were partially offset by a release of a valuation allowance in New Zealand due to taxable income in recent years.

As of December 31, 2018, the valuation allowance against deferred tax assets was $181 million. During 2018, a valuation allowance on the U.S. Foreign tax credit carryforwards of $65 million was released. This release partially offset a $25 million increase to the valuation allowance related to the net operating losses of RGA Australia and increases and decreases to the valuation allowance in jurisdictions where the Company does not have a history of earnings. Further decreases to the valuation allowance include foreign currency translation and reclassifications with other deferred tax assets of $13 million.

The earnings of substantially all of the Company's foreign subsidiaries have been permanently reinvested in foreign operations. No provision has been made for U.S. tax or foreign withholding taxes that may be applicable upon any repatriation or sale. At December 31, 2019 and 2018, the financial reporting basis in excess of the tax basis for which no deferred taxes have been recognized was approximately $1,642 million and $1,364 million, respectively. As U.S. Tax Reform generally eliminates U.S. federal income taxes on dividends from foreign subsidiaries, the Company does not expect to incur material income taxes if these funds were repatriated.

During 2019, 2018, and 2017, the Company received federal and foreign income tax refunds of approximately $22 million, $2 million, and $12 million, respectively. The Company made cash income tax payments of approximately $66 million, $144 million, and $49 million, in 2019, 2018, and 2017, respectively.

The following table presents consolidated net operating losses (“NOL”) as of December 31, 2019 (dollars in millions):



	2019
NOL with no expiration and with no valuation allowance	$	129
NOL with a full valuation allowance	140
NOL with no expiration and a partial valuation allowance	513
NOL with expiration dates between 2029 & 2038 with no valuation allowance	530
Total net operating loss carryforwards	$	1,312

These net operating losses, other than the net operating losses for which there is a valuation allowance, are expected to be utilized in the normal course of business during the period allowed for carryforwards and in any event, are not expected to be lost, due to the application of tax planning strategies that management would utilize.

As of December 31, 2019 the Company had foreign tax credit carryforwards of $28 million in Ireland for which there is a full valuation allowance.

The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The Company is under continuous examination by the Internal Revenue Service and is subject to audit by taxing authorities in other foreign jurisdictions in which the Company has significant business operations. The income tax years under examination vary by jurisdiction. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for years prior to 2016, Canadian tax authorities for years prior to 2015 and with a few exceptions, the Company is no longer subject to state and foreign income tax examinations by tax authorities for years prior to 2014.

As of December 31, 2019, the Company’s total amount of unrecognized tax benefits was $333 million and the total amount of unrecognized tax benefits that would affect the effective tax rate, if recognized, was $21 million. Management believes there will be no material impact to the Company’s effective tax rate related to unrecognized tax benefits over the next 12 months.

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017, is as follows (dollars in millions):



	Total Unrecognized Tax Benefits
	2019			2018			2017
Beginning balance, January 1	$	325		$	321		$	297
Acquisition Accounting	—			1			—
Additions for tax positions of prior years	264			256			248
Reductions for tax positions of prior years	(262		)	(257		)	(247		)
Additions for tax positions of current year	6			4			36
Settlements with tax authorities	—			—			(13		)
Ending balance, December 31	$	333		$	325		$	321

The Company recognized interest expense (benefit) associated with uncertain tax positions in 2019, 2018 and 2017 of $12 million, $(3) million, and $(5) million, respectively. As of December 31, 2019 and 2018, the Company had $23 million and $12 million, respectively, of accrued interest related to unrecognized tax benefits. There are no penalties accrued as of December 31, 2019 or December 31, 2018.

Supplemental Schedule of Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums, Life Insurance in Force	$ 1,316.0	$ 1,363.0	$ 1,462.0
Ceded Premiums, Life Insurance in Force	192,864.0	186,172.0	205,529.0
Assumed Premiums, Life Insurance in Force	3,480,206.0	3,329,181.0	3,297,275.0
Premiums, Net, Life Insurance in Force	$ 3,288,658.0	$ 3,144,372.0	$ 3,093,208.0
Life Insurance in Force Premiums, Percentage Assumed to Net	105.80%	105.90%	106.60%
Direct Premiums Earned	$ 76.1	$ 62.5	$ 61.6
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	928.6	860.0	862.9
Assumed Premiums Earned	12,149.7	11,341.3	10,642.4
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 11,297.2	$ 10,543.8	$ 9,841.1
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	107.50%	107.60%	108.10%
US Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 29.4	$ 31.6	$ 30.5
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	590.8	593.7	610.4
Assumed Premiums Earned	6,291.0	6,095.4	5,936.2
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 5,729.6	$ 5,533.3	$ 5,356.3
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	109.80%	110.20%	110.80%
US Non-Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 1.8	$ 4.7	$ 4.3
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	0.0	0.0	0.0
Assumed Premiums Earned	37.0	22.5	19.4
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 38.8	$ 27.2	$ 23.7
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	95.40%	82.70%	81.90%
Canada Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 0.0	$ 0.0	$ 0.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	53.8	46.9	38.1
Assumed Premiums Earned	1,119.5	1,070.9	940.1
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 1,065.7	$ 1,024.0	$ 902.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	105.00%	104.60%	104.20%
Canada Non-Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 0.0	$ 0.0	$ 0.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	0.0	0.0	0.0
Assumed Premiums Earned	88.9	43.4	38.2
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 88.9	$ 43.4	$ 38.2
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	100.00%	100.00%	100.00%
EMEA Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 44.7	$ 26.0	$ 26.6
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	52.7	25.9	34.9
Assumed Premiums Earned	1,449.4	1,423.1	1,310.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 1,441.4	$ 1,423.2	$ 1,301.7
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	100.60%	100.00%	100.60%
EMEA Non-Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 0.2	$ 0.2	$ 0.2
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	148.4	143.7	125.0
Assumed Premiums Earned	366.4	338.8	288.5
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 218.2	$ 195.3	$ 163.7
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	167.90%	173.50%	176.20%
Asia Pacific Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 0.0	$ 0.0	$ 0.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	82.9	49.8	54.5
Assumed Premiums Earned	2,651.5	2,346.2	2,107.5
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 2,568.6	$ 2,296.4	$ 2,053.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	103.20%	102.20%	102.70%
Asia Pacific Non-Traditional Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned	$ 0.0	$ 0.0	$ 0.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies	0.0	0.0	0.0
Assumed Premiums Earned	146.0	0.9	2.4
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount	$ 146.0	$ 0.9	$ 2.4
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net	100.00%	100.00%	100.00%
Corporate And Other Segment Reporting Information [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct Premiums Earned		$ 0.0	$ 0.0
Reinsurance Premiums for Insurance Companies, by Product Segment, Amount Ceded to Other Companies		0.0	0.0
Assumed Premiums Earned		0.1	0.1
Reinsurance Premiums for Insurance Companies, by Product Segment, Net Amount		$ 0.1	$ 0.1
Reinsurance Premiums for Insurance Companies, by Product Segment, Percentage of Amount Assumed to Net		100.00%	100.00%

Debt (Repayments of Debt) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Debt Disclosure [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 3
Long-term Debt, Maturities, Repayments of Principal in Year Two	403
Long-term Debt, Maturities, Repayments of Principal in Year Three	3
Long-term Debt, Maturities, Repayments of Principal in Year Four	403
Long-term Debt, Maturities, Repayments of Principal in Year Five	3
Long-term Debt, Maturities, Repayments of Principal after Year Five	$ 2,190

Financial Condition and Net Income on a Statutory Basis - Significant Subsidiaries (Reconciliation of NAIC SAP and Prescribed Practice) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Statutory Basis [Abstract]
Prescribed Practice Surplus Note	$ 652	$ 624
Prescribed Practice Letters Of Credit	(576)	(976)
Surplus Deficit NAIC SAP	$ 76	$ (352)

Employee Benefit Plans (Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation	$ 212	$ 174
Defined Benefit Plan, Plan Assets, Amount	$ 133	$ 103

Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($)
$ in Millions

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Mortgage loans on real estate

$ 5,706

$ 4,966

Policy loans

1,319

1,345

Funds withheld at interest

5,662

5,761

Cash and cash equivalents

1,449

1,890

$ 1,304

$ 1,201

Short-term investments

143

Other invested assets

2,363

1,915

Accrued investment income

493

428

Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]

Interest-sensitive contract liabilities

22,711

18,005

Collateral finance and securitization notes

598

682

Carrying Value [Member]

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Mortgage loans on real estate

^[1]

5,706

4,966

Policy loans

^[1]

1,319

1,345

Funds withheld at interest

^[1]

5,526

5,655

Cash and cash equivalents

^[1]

1,175

1,405

Short-term investments

^[1]

Other invested assets

^[1]

1,259

946

Accrued investment income

^[1]

493

428

Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]

Interest-sensitive contract liabilities

^[1]

19,163

14,547

Long And Short Term Debt

^[1]

2,981

2,788

Collateral finance and securitization notes

^[1]

598

682

Estimate of Fair Value Measurement [Member]

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Mortgage loans on real estate

5,935

4,917

Policy loans

1,319

1,345

Funds withheld at interest

5,870

5,803

Cash and cash equivalents

1,175

1,405

Short-term investments

Other invested assets

1,278

941

Accrued investment income

493

428

Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]

Interest-sensitive contract liabilities

21,542

14,611

Long And Short Term Debt

3,179

2,752

Collateral finance and securitization notes

551

627

Estimate of Fair Value Measurement [Member] | Net Asset Value [Member]

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Mortgage loans on real estate

Policy loans

Funds withheld at interest

Cash and cash equivalents

Short-term investments

Other invested assets

402

376

Accrued investment income

Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]

Interest-sensitive contract liabilities

Long And Short Term Debt

Collateral finance and securitization notes

Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member]

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Mortgage loans on real estate

Policy loans

Funds withheld at interest

Cash and cash equivalents

1,175

1,405

Short-term investments

Other invested assets

Accrued investment income

Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]

Interest-sensitive contract liabilities

Long And Short Term Debt

Collateral finance and securitization notes

Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member]

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Mortgage loans on real estate

Policy loans

1,319

1,345

Funds withheld at interest

Cash and cash equivalents

Short-term investments

Other invested assets

Accrued investment income

493

428

Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]

Interest-sensitive contract liabilities

Long And Short Term Debt

Collateral finance and securitization notes

Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member]

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Mortgage loans on real estate

5,935

4,917

Policy loans

Funds withheld at interest

5,870

5,803

Cash and cash equivalents

Short-term investments

Other invested assets

803

477

Accrued investment income

Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]

Interest-sensitive contract liabilities

21,542

14,611

Long And Short Term Debt

3,179

2,752

Collateral finance and securitization notes

$ 551

$ 627

[1]	Carrying values presented herein may differ from those in the Company’s consolidated balance sheets because certain items within the respective financial statement captions may be measured at fair value on a recurring basis.

Debt (Senior Note Offering) (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2006
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 850,000,000
Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Debt Instrument, Offering Date	May 15, 2019
Debt Instrument, Interest Rate, Stated Percentage	3.90%
Debt Instrument, Face Amount	$ 600,000,000
Proceeds from Debt, Net of Issuance Costs	594,000,000
Debt Related Commitment Fees and Debt Issuance Costs	$ 5,000,000
Senior Notes Due 2019 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.45%
Debt Instrument, Face Amount	$ 400,000,000

Employee Benefit Plans (Schedule of Changes in Fair Value of Plan Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Defined Benefit Plan, Fair Value of Plan Assets, Beginning Balance	$ 103
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	133	$ 103
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(87)	(76)
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Defined Benefit Plan, Fair Value of Plan Assets, Beginning Balance	103	103
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	21	(6)
Defined Benefit Plan, Plan Assets, Contributions by Employer	17	14
Defined Benefit Plan, Contributions by Plan Participants (Deprecated 2017-01-31)	0	0
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(8)	(8)
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	133	103
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(87)	(76)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Defined Benefit Plan, Fair Value of Plan Assets, Beginning Balance	0	0
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	0	0
Defined Benefit Plan, Plan Assets, Contributions by Employer	1	1
Defined Benefit Plan, Contributions by Plan Participants (Deprecated 2017-01-31)	0	0
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(1)	(1)
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	0	0
Defined Benefit Plan, Funded (Unfunded) Status of Plan	$ (87)	$ (67)

Document and Entity Information Document and Entity Information Entity Listing - NEW YORK STOCK EXCHANGE, INC. [Member]	12 Months Ended
	Dec. 31, 2019
RGA [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	RGA
Security Exchange Name	NYSE
RZA [Member]
Entity Information [Line Items]
Title of 12(b) Security	6.20% Fixed-To-Floating Rate Subordinated Debentures due 2042
Trading Symbol	RZA
Security Exchange Name	NYSE
RZB [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.75% Fixed-To-Floating Rate Subordinated Debentures due 2056
Trading Symbol	RZB
Security Exchange Name	NYSE

Employee Benefit Plans (Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Defined Benefit Plan, Benefit Obligation	$ 220	$ 179
Defined Benefit Plan, Plan Assets, Amount	$ 133	$ 103

Equity (Schedule of Reclassifications out of AOCI) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Other investment related gains (losses), net

$ 122

$ (142)

$ 211

Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Portion in Other Comprehensive Loss, before Tax, Including Portion Attributable to Noncontrolling Interest

Investment income, net of related expenses

2,520

2,139

2,155

Deferred Policy Acquisition Cost, Amortization Expense, Unrealized Investment Gains (Losses)

(27)

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax

(12)

Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax

(1)

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

$ 308

$ 347

$ 260

$ 217

$ 138

$ 323

$ 247

$ 138

1,132

846

1,143

Income Tax Expense (Benefit)

(262)

(130)

679

Net Income (Loss) Attributable to Parent

$ 235

$ 263

$ 202

$ 170

$ 110

$ 301

$ 205

$ 100

870

716

$ 1,822

Amortization Of Unrealized Pension And Postretirement Benefits [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax

^[1]

(1)

Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax

^[1]

(5)

(6)

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

(4)

(5)

Income Tax Expense (Benefit)

Net Income (Loss) Attributable to Parent

(3)

(4)

Unrealized Appreciation Depreciation Of Investments [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Other investment related gains (losses), net

(122)

Deferred Policy Acquisition Cost, Amortization Expense, Unrealized Investment Gains (Losses)

^[2]

(27)

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

182

(149)

Income Tax Expense (Benefit)

(38)

Net Income (Loss) Attributable to Parent

144

(118)

Amounts Reclassified From AOCI [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Net Income (Loss) Attributable to Parent

141

(122)

Interest Rate Options [Member] | Unrealized Gains Losses On Available For Sale Securities [Member] | Unrealized Appreciation Depreciation Of Investments [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

^[3]

Currency Swap [Member] | Unrealized Gains Losses On Available For Sale Securities [Member] | Unrealized Appreciation Depreciation Of Investments [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

^[3]

Forward Contracts [Member] | Unrealized Gains Losses On Available For Sale Securities [Member] | Unrealized Appreciation Depreciation Of Investments [Member]

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

^[3]

$ 0

[1]	See Note 10 for information on employee benefit plans.
[2]	See Note 8 for information on deferred policy acquisition costs.
[3]	See Note 5 for information on cash flow hedges.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Comprehensive income
Net Income (Loss) Attributable to Parent	$ 870	$ 716	$ 1,822
Other comprehensive income (loss), net of tax:
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	77	(80)	69
Net unrealized investment gains (losses)	2,443	(1,344)	698
Change in other-than-temporary impairment losses on fixed maturity securities	0	0	0
Defined benefit pension and postretirement plan adjustments	(19)	0	1
Total other comprehensive income (loss), net of tax	2,501	(1,424)	768
Total comprehensive income (loss)	$ 3,371	$ (708)	$ 2,590

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Investments (Tables)

12 Months Ended

Dec. 31, 2019

Investments [Abstract]

Available-for-sale Securities [Table Text Block]

The following tables provide information relating to investments in fixed maturity securities by type as of December 31, 2019 and 2018 (dollars in millions):



December 31, 2019:	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total		Other-than- temporary impairments in AOCI
Available-for-sale:
Corporate	$	29,205	$	2,269	$	81	$	31,393	61.4	%	$	—
Canadian government	3,016		1,596		—		4,612		9.0		—
RMBS	2,339		62		3		2,398		4.7		—
ABS	2,973		19		14		2,978		5.8		—
CMBS	1,841		61		3		1,899		3.7		—
U.S. government	2,096		57		1		2,152		4.2		—
State and political subdivisions	1,074		93		3		1,164		2.3		—
Other foreign government	4,209		321		5		4,525		8.9		—
Total fixed maturity securities	$	46,753	$	4,478	$	110	$	51,121	100.0	%	$	—



December 31, 2018:	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total		Other-than- temporary impairments in AOCI
Available-for-sale:
Corporate	$	24,006	$	531	$	555	$	23,982	59.9	%	$	—
Canadian government	2,768		1,126		2		3,892		9.7		—
RMBS	1,872		22		25		1,869		4.7		—
ABS	2,172		11		33		2,150		5.4		—
CMBS	1,428		9		18		1,419		3.5		—
U.S. government	2,234		10		58		2,186		5.5		—
State and political subdivisions	721		40		9		752		1.9		—
Other foreign government	3,681		109		48		3,742		9.4		—
Total fixed maturity securities	$	38,882	$	1,858	$	748	$	39,992	100.0	%	$	—

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

The following table includes fixed maturity securities pledged and received as collateral and assets in trust held to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties as of December 31, 2019 and 2018 (dollars in millions):



	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities pledged as collateral	$	113	$	116	$	81	$	84
Fixed maturity securities received as collateral	n/a		727		n/a		617
Assets in trust held to satisfy collateral requirements	27,290		29,239		20,073		20,366

Concentration Risk Disclosure [Text Block]

The Company’s exposure to concentrations of credit risk from single issuers greater than 10% of the Company’s stockholders’ equity included securities of the U.S. government and its agencies, as well as the securities disclosed below, as of December 31, 2019 and 2018 (dollars in millions):



	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities guaranteed or issued by:
Canadian province of Quebec	$	1,205	$	2,163	$	1,091	$	1,757
Canadian province of Ontario	1,014		1,379		914		1,188

Investments Classified By Contractual Maturity Date [Table Text Block]



	Amortized Cost		Estimated Fair Value
Available-for-sale:
Due in one year or less	$	1,267	$	1,281
Due after one year through five years	9,056		9,387
Due after five years through ten years	9,641		10,416
Due after ten years	19,636		22,762
Asset and mortgage-backed securities	7,153		7,275
Total	$	46,753	$	51,121

Fixed Maturity Holdings Industry Types [Table Text Block]

The tables below show the major sectors of the Company’s corporate fixed maturity holdings as of December 31, 2019 and 2018 (dollars in millions):



December 31, 2019:	Amortized Cost		Estimated Fair Value		% of Total
Finance	$	10,896	$	11,653	37.2	%
Industrial	14,692		15,803		50.3
Utility	3,617		3,937		12.5
Total	$	29,205	$	31,393	100.0	%

December 31, 2018:	Amortized Cost		Estimated Fair Value		% of Total
Finance	$	8,794	$	8,731	36.3	%
Industrial	12,337		12,342		51.6
Utility	2,875		2,909		12.1
Total	$	24,006	$	23,982	100.0	%

Roll Forward Of Cumulative Credit Loss Component Of Otti Income Loss [Table Text Block]

The following table sets forth the amount of pre-tax credit loss impairments on fixed maturity securities held by the Company as of the dates indicated, for which a portion of the OTTI was recognized in AOCI, and the corresponding changes in such amounts (dollars in millions):



	2019			2018		2017
Balance, beginning of period	$	4		$	4	$	6
Credit loss impairments previously recognized on securities impaired to fair value during the period	—			—		(2		)
Credit loss previously recognized on securities that matured, paid down, prepaid or were sold during the period	(2		)	—		—
Balance, end of period	$	2		$	4	$	4

Investments In Debt And Equity Securities Gross Unrealized Losses Disclosures [Table Text Block]



	2019				2018
	Gross Unrealized Losses		% of Total		Gross Unrealized Losses		% of Total
Less than 20%	$	76	69.1	%	$	721	96.4	%
20% or more for less than six months	20		18.2		21		2.8
20% or more for six months or greater	14		12.7		6		0.8
Total	$	110	100.0	%	$	748	100.0	%

Fair Value And Investments In Debt And Equity Securities Disclosures [Table Text Block]



	Less than 12 months				12 months or greater				Total
December 31, 2019:	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
Investment grade securities:
Corporate	$	1,936	$	29	$	293	$	7	$	2,229	$	36
Canadian government	—		—		—		—		—		—
RMBS	367		2		84		1		451		3
ABS	773		5		739		9		1,512		14
CMBS	253		3		—		—		253		3
U.S. government	49		1		—		—		49		1
State and political subdivisions	103		2		12		1		115		3
Other foreign government	278		4		—		—		278		4
Total investment grade securities	3,759		46		1,128		18		4,887		64
Below investment grade securities:
Corporate	220		38		100		7		320		45
Other foreign government	—		—		10		1		10		1
Total below investment grade securities	220		38		110		8		330		46
Total fixed maturity securities	$	3,979	$	84	$	1,238	$	26	$	5,217	$	110



	Less than 12 months				12 months or greater				Total
December 31, 2018:	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
Investment grade securities:
Corporate	$	8,505	$	302	$	3,612	$	195	$	12,117	$	497
Canadian government	—		—		132		2		132		2
RMBS	270		2		836		23		1,106		25
ABS	1,102		24		382		9		1,484		33
CMBS	384		4		415		14		799		18
U.S. government	—		—		1,086		58		1,086		58
State and political subdivisions	104		2		157		7		261		9
Other foreign government	790		25		473		17		1,263		42
Total investment grade securities	11,155		359		7,093		325		18,248		684
Below investment grade securities:
Corporate	756		43		123		15		879		58
Other foreign government	129		6		—		—		129		6
Total below investment grade securities	885		49		123		15		1,008		64
Total fixed maturity securities	$	12,040	$	408	$	7,216	$	340	$	19,256	$	748

Investment Income [Table Text Block]

Major categories of investment income, net of related expenses, consist of the following (dollars in millions):



	2019			2018			2017
Fixed maturity securities available-for-sale	$	1,786		$	1,529		$	1,402
Equity securities	8			4			4
Mortgage loans on real estate	255			214			198
Policy loans	58			59			61
Funds withheld at interest	297			310			458
Short-term investments and cash and cash equivalents	28			14			7
Other invested assets	184			99			106
Investment income	2,616			2,229			2,236
Investment expense	(96		)	(90		)	(81		)
Investment income, net of related expenses	$	2,520		$	2,139		$	2,155

Gain (Loss) on Securities [Table Text Block]

Investment related gains (losses), net, consist of the following (dollars in millions):



	2019			2018			2017
Fixed maturity securities available for sale:
OTTI	$	(31	)	$	(28	)	$	(43	)
Gain on investment activity	151			65			111
Loss on investment activity	(50		)	(159		)	(37		)
Net gains (losses) on equity securities	16			(20		)	(5		)
Other impairment losses and change in mortgage loan provision	(12		)	(12		)	(10		)
Derivatives and other, net	17			(16		)	152
Total investment related gains (losses), net	$	91		$	(170	)	$	168

Schedule of Repurchase Agreements [Table Text Block]



	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Borrowed securities	$	339	$	369	$	336	$	367
Securities lending:
Securities loaned	98		104		102		103
Securities received	n/a		107		n/a		112
Repurchase program/reverse repurchase program:
Securities pledged	356		384		554		554
Securities received	n/a		370		n/a		531

Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block]



	December 31, 2019
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Securities lending transaction:
Corporate	$	—	$	—	$	—	$	104	$	104
Total	—		—		—		104		104
Repurchase transactions:
Corporate	—		—		—		286		286
U.S. government	—		—		—		—		—
Foreign government	—		—		—		98		98
Total	—		—		—		384		384
Total transactions	$	—	$	—	$	—	$	488	$	488

Gross amount of recognized liabilities for securities lending and repurchase transactions in preceding table									$	478
Amounts related to agreements not included in offsetting disclosure									$	10



	December 31, 2018
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Securities lending transaction:
Corporate	$	—	$	—	$	—	$	103	$	103
Total	—		—		—		103		103
Repurchase transactions:
Corporate	—		—		—		254		$	254
U.S. government	—		—		—		221		221
Foreign government	—		—		—		79		79
Total	—		—		—		554		554
Total transactions	$	—	$	—	$	—	$	657	$	657

Gross amount of recognized liabilities for securities lending and repurchase transactions in preceding table									$	671
Amounts related to agreements not included in offsetting disclosure									$	14

Disclosure Of Real Estate Holdings By Property Type [Table Text Block]

The recorded investment in mortgage loans on real estate presented below is gross of unamortized deferred loan origination fees and expenses, and valuation allowances.

The distribution of mortgage loans by property type is as follows as of December 31, 2019 and 2018 (dollars in millions):



	2019					2018
	Carrying Value			Percentage of Total		Carrying Value			Percentage of Total
Property type:
Office building	$	1,771		31.0	%	$	1,726		34.6	%
Retail	1,686			29.4		1,432			28.7
Industrial	1,169			20.4		962			19.3
Apartment	766			13.4		571			11.5
Other commercial	335			5.8		292			5.9
Recorded investment	5,727			100.0	%	4,983			100.0	%
Unamortized balance of loan origination fees and expenses	(9		)			(6		)
Valuation allowances	(12		)			(11		)
Total mortgage loans on real estate	$	5,706				$	4,966

Disclosure of Real Estate Holdings Classified By Contractual Maturity Date [Table Text Block]

The maturities of the mortgage loans as of December 31, 2019 and 2018 are as follows (dollars in millions):



	2019				2018
	Recorded Investment		% of Total		Recorded Investment		% of Total
Due within five years	$	1,841	32.2	%	$	1,426	28.6	%
Due after five years through ten years	2,944		51.4		2,686		53.9
Due after ten years	942		16.4		871		17.5
Total	$	5,727	100.0	%	$	4,983	100.0	%

Financing Receivable Credit Quality Indicators [Table Text Block]

The following tables set forth certain key credit quality indicators of the Company’s recorded investment in mortgage loans as of December 31, 2019 and 2018 (dollars in millions):



	Recorded Investment
	Debt Service Ratios						Construction loans
	>1.20x		1.00x - 1.20x		<1.00x		Construction loans		Total		% of Total
December 31, 2019:
Loan-to-Value Ratio
0% - 59.99%	$	3,025	$	52	$	7	$	—	$	3,084	53.8	%
60% - 69.99%	1,841		53		11		—		1,905		33.3
70% - 79.99%	492		13		39		—		544		9.5
Greater than 80%	96		61		37		—		194		3.4
Total	$	5,454	$	179	$	94	$	—	$	5,727	100.0	%



	Recorded Investment
	Debt Service Ratios						Construction loans
	>1.20x		1.00x - 1.20x		<1.00x		Construction loans		Total		% of Total
December 31, 2018:
Loan-to-Value Ratio
0% - 59.99%	$	2,411	$	61	$	38	$	14	$	2,524	50.6	%
60% - 69.99%	1,618		74		38		19		1,749		35.1
70% - 79.99%	414		48		54		—		516		10.4
Greater than 80%	118		50		26		—		194		3.9
Total	$	4,561	$	233	$	156	$	33	$	4,983	100.0	%

Recorded Investment And Allowance For Credit Losses [Table Text Block]



	2019		2018
Mortgage loans:
Individually measured for impairment	$	17	$	31
Collectively measured for impairment	5,710		4,952
Recorded investment	$	5,727	$	4,983
Valuation allowances:
Individually measured for impairment	$	—	$	—
Collectively measured for impairment	12		11
Total valuation allowances	$	12	$	11

Allowance For Loan And Lease Losses Provision For Loss Net [Table Text Block]

Information regarding the Company’s loan valuation allowances for mortgage loans as of December 31, 2019, 2018 and 2017 are as follows (dollars in millions):



	2019		2018		2017
Balance, beginning of period	$	11	$	9	$	8
Provision	1		2		1
Balance, end of period	$	12	$	11	$	9

Impaired Financing Receivables [Table Text Block]

Information regarding the portion of the Company’s mortgage loans that were impaired as of December 31, 2019 and 2018 is as follows (dollars in millions):



	Unpaid Principal Balance		Recorded Investment		Related Allowance		Carrying Value
December 31, 2019:
Impaired mortgage loans with no valuation allowance recorded	$	17	$	17	$	—	$	17
Impaired mortgage loans with valuation allowance recorded	—		—		—		—
Total impaired mortgage loans	$	17	$	17	$	—	$	17
December 31, 2018:
Impaired mortgage loans with no valuation allowance recorded	$	31	$	31	$	—	$	31
Impaired mortgage loans with valuation allowance recorded	—		—		—		—
Total impaired mortgage loans	$	31	$	31	$	—	$	31



	2019				2018				2017
	Average Investment⁽¹⁾		Interest Income		Average Investment⁽¹⁾		Interest Income		Average Investment⁽¹⁾		Interest Income
Impaired mortgage loans with no valuation allowance recorded	$	20	$	1	$	24	$	1	$	4	$	—
Impaired mortgage loans with valuation allowance recorded	—		—		—		—		—		—
Total	$	20	$	1	$	24	$	1	$	4	$	—

(1)

Average recorded investment represents the average loan balances as of the beginning of period and all subsequent quarterly end of period balances.

Schedule of Other Assets [Table Text Block]

Carrying values of these assets as of December 31, 2019 and 2018 are as follows (dollars in millions):



	2019		2018
Limited partnership interests and real estate joint ventures	$	1,134	$	965
Lifetime mortgages	775		476
Derivatives	117		180
FVO contractholder-directed unit-linked investments	260		198
Other	77		96
Total other invested assets	$	2,363	$	1,915

Collateral Finance and Securitization Notes

12 Months Ended

Dec. 31, 2019

Collateralized Financings [Abstract]

Collateral Finance and Securitization Notes

COLLATERAL FINANCE AND SECURITIZATION NOTES

Collateral Finance Notes

In 2006, RGA’s subsidiary, Timberlake Financial L.L.C. (“Timberlake Financial”), issued $850 million of Series A Floating Rate Insured Notes, due June 2036, in a private placement. The notes were issued to fund the collateral requirements for statutory reserves required by Regulation XXX on specified term life insurance policies reinsured by RGA Reinsurance and retroceded to Timberlake Re. Proceeds from the notes, along with a $113 million direct investment by RGA, were deposited into a series of accounts that collateralize the notes and are not available to satisfy the general obligations of the Company. As of December 31, 2019 and 2018, respectively, the Company held assets in trust and in custody of $694 million and $768 million, of which $58 million and $57 million were held in a Debt Service Coverage account to cover interest payments on the notes. Interest on the notes accrues at an annual rate of 1-month LIBOR plus a base rate margin, payable monthly, and totaled $9 million, $9 million and $6 million in 2019, 2018 and 2017, respectively.

In 2015, RGA’s subsidiary, RGA Reinsurance Company (Barbados) Ltd. (“RGA Barbados”) obtained CAD$200.0 million of collateral financing from a third party through 2020, enabling RGA Barbados to support collateral requirements for Canadian reinsurance transactions. The obligation is reflected on the consolidated balance sheets in collateral finance and securitization notes. Interest on the collateral financing is payable quarterly and accrues at 3-month Canadian Dealer Offered Rate plus a margin and totaled $5 million, $5 million and $4 million in 2019, 2018 and 2017, respectively.

In 2015, RGA’s subsidiary, RGA Americas Reinsurance Company, Ltd. (“RGA Americas”), entered into a collateral financing transaction pursuant to which it issued a CAD$150 million note and, in return, obtained a CAD$150 million demand note issued by a designated series of a Delaware master trusts. The demand note matures in October 2020 and is used to support collateral requirements for Canadian reinsurance transactions.

The demand note is secured by a portfolio of specified assets that have an aggregate market value at least equal to the principal amount of the demand note and a payment obligation pledged by a third party financial institution. The principal amount of the demand note is payable upon demand by the holder, which creates a corresponding payment under the note issued by RGA Americas. The note issued by RGA Americas bears interest at a rate equal to the rate on the corresponding demand note, plus an amount representing fees payable to the applicable third party financial institution. Through December 31, 2019, no principal payments have been received or are currently due on the demand note and, as a result, there was no payment obligation under the note issued by RGA Americas. Accordingly, the notes are not reflected in the Company’s consolidated balance sheet or the table below, as of that date.

Securitization Notes

In 2014, RGA’s subsidiary, Chesterfield Financial Holdings LLC, (“Chesterfield Financial”), issued $300 million of asset-backed notes due December 2024 in a private placement. The notes were issued as part of an embedded value securitization transaction covering a closed block of policies assumed by RGA Reinsurance and retroceded to Chesterfield Re. Proceeds from the notes, along with a direct investment by the Company, were applied by Chesterfield Financial to (i) pay certain transaction-related expenses, (ii) establish a reserve account owned by Chesterfield Financial and pledged to the indenture trustee for the benefit of

the holders of the notes (primarily to cover interest payments on the notes), and (iii) to fund an initial stock purchase from and capital contribution to Chesterfield Re to capitalize Chesterfield Re and to finance the payment of a ceding commission by Chesterfield Re to RGA Reinsurance under the retrocession agreement. As of December 31, 2019 and 2018, the Company held deposits in trust of $15 million and $14 million, respectively, to cover interest payments on the notes, which are not available to satisfy the general obligations of the Company. Interest on the notes accrues at an annual rate of 4.50%, payable quarterly, and totaled $8 million, $10 million and $11 million in 2019, 2018 and 2017, respectively. The notes represent senior, secured indebtedness of Chesterfield Financial. Limited support is provided by RGA for temporary potential liquidity events at Chesterfield Financial and for temporary potential statutory capital and surplus events at Chesterfield Re. Otherwise, there is no legal recourse to RGA or its other subsidiaries. The notes are not insured or guaranteed by any other person or entity.

The Company’s collateral finance and securitization notes consist of the following as of December 31, 2019 and 2018 (dollars in millions):



	2019			2018
Timberlake Financial	$	313		$	368
RGA Barbados	127			132
Chesterfield Financial	161			186
Unamortized issuance costs	(3		)	(4		)
Total	$	598		$	682

Supplementary Insurance Information

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]

Supplementary Insurance Information

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE III—SUPPLEMENTARY INSURANCE INFORMATION

(in millions)



	As of December 31,
	Deferred Policy Acquisition Costs		Future Policy Benefits and Interest-Sensitive Contract Liabilities		Other Policy Claims and Benefits Payable
2019
U.S. and Latin America:
Traditional	$	1,806	$	11,969	$	2,143
Financial Solutions	313		23,728		18
Canada:
Traditional	200		3,260		219
Financial Solutions	—		23		42
Europe, Middle East and Africa:
Traditional	250		1,197		1,109
Financial Solutions	—		5,703		51
Asia Pacific:
Traditional	927		2,837		2,121
Financial Solutions	16		2,215		2
Corporate and Other	—		451		6
Total	$	3,512	$	51,383	$	5,711

2018
U.S. and Latin America:
Traditional	$	1,825	$	11,728	$	1,948
Financial Solutions	420		19,421		21
Canada:
Traditional	193		2,930		182
Financial Solutions	—		26		34
Europe, Middle East and Africa:
Traditional	239		1,110		978
Financial Solutions	—		4,541		35
Asia Pacific:
Traditional	702		1,738		2,436
Financial Solutions	18		1,043		2
Corporate and Other	—		754		6
Total	$	3,397	$	43,291	$	5,642

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE III—SUPPLEMENTARY INSURANCE INFORMATION (continued)

(in millions)



	Year ended December 31,
	Premium Income		Net Investment Income		Policyholder Benefits and Interest Credited		Amortization of DAC		Other Expenses ⁽¹⁾
2019
U.S. and Latin America:
Traditional	$	5,729	$	769	$	5,339	$	199	$	697
Financial Solutions	39		931		737		31		113
Canada:
Traditional	1,066		205		857		12		249
Financial Solutions	89		3		80		—		4
Europe, Middle East and Africa:
Traditional	1,442		73		1,205		36		199
Financial Solutions	218		195		175		—		52
Asia Pacific:
Traditional	2,568		104		2,317		36		223
Financial Solutions	146		46		162		16		27
Corporate and Other	—		194		22		—		380
Total	$	11,297	$	2,520	$	10,894	$	330	$	1,944
2018
U.S. and Latin America:
Traditional	$	5,534	$	730	$	5,131	$	180	$	698
Financial Solutions	27		706		442		109		106
Canada:
Traditional	1,024		199		848		13		251
Financial Solutions	43		2		37		—		2
Europe, Middle East and Africa:
Traditional	1,424		66		1,233		27		179
Financial Solutions	195		134		116		—		37
Asia Pacific:
Traditional	2,296		96		1,885		92		262
Financial Solutions	1		40		40		2		19
Corporate and Other	—		166		12		—		308
Total	$	10,544	$	2,139	$	9,744	$	423	$	1,862
2017
U.S. and Latin America:
Traditional	$	5,356	$	728	$	4,842	$	192	$	693
Financial Solutions	24		779		458		185		105
Canada:
Traditional	902		189		758		12		213
Financial Solutions	38		5		30		—		3
Europe, Middle East and Africa:
Traditional	1,301		56		1,096		21		175
Financial Solutions	164		123		154		—		34
Asia Pacific:
Traditional	2,053		92		1,636		91		335
Financial Solutions	3		34		40		1		19
Corporate and Other	—		149		6		—		274
Total	$	9,841	$	2,155	$	9,020	$	502	$	1,851

(1)

Includes policy acquisition costs and other insurance expenses, excluding amortization of DAC. Also includes other operating expenses, interest expense, and collateral finance and securitization expense.

Fair Value of Assets and Liabilities

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

FAIR VALUE OF ASSETS AND LIABILITIES

Fair Value Measurement

General accounting principles for Fair Value Measurements and Disclosures define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. These principles also establish a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value and describes three levels of inputs that may be used to measure fair value:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Active markets are defined as having the following characteristics for the measured asset/liability: (i) many transactions, (ii) current prices, (iii) price quotes not varying substantially among market makers, (iv) narrow bid/ask spreads and (v) most information publicly available. The Company’s Level 1 assets and liabilities are traded in active exchange markets.

Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or market standard valuation techniques and assumptions that use significant inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Such observable inputs include benchmarking prices for similar assets in active, liquid markets, quoted prices in markets that are not active and observable yields and spreads in the market. The Company’s Level 2 assets and liabilities include investment securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose values are determined using market standard valuation techniques. Level 2 valuations are generally obtained from third party pricing services for identical or comparable assets or liabilities or through the use of valuation methodologies using observable market inputs. Prices from servicers are validated through analytical reviews and assessment of current market activity.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the related assets or liabilities. Level 3 assets and liabilities include those whose value is determined using market standard valuation techniques described above. When observable inputs are not available, the market standard techniques for determining the estimated fair value of certain securities that trade infrequently, and therefore have little transparency, rely on inputs that are significant to the estimated fair value and that are not observable in the market or cannot be derived principally from or corroborated by observable market data. These unobservable inputs can be based in large part on management judgment or estimation and cannot be supported by reference to market activity. Even though unobservable, management believes these inputs are based on assumptions deemed appropriate given the circumstances and consistent with what other market participants would use when pricing similar assets and liabilities. Prices are determined using valuation methodologies such as discounted cash flow models and other similar techniques that require management’s judgment or estimation in developing inputs that are consistent with those other market participants would use when pricing similar assets and liabilities. Non-binding broker quotes, which are utilized when pricing service information is not available, are reviewed for reasonableness based on the Company’s understanding of the market, and are generally considered Level 3. Under certain circumstances, based on its observations of transactions in active markets, the Company may conclude the prices received from independent third party pricing services or brokers are not reasonable or reflective of market activity. In those instances, the Company would apply internally developed valuation techniques to the related assets or liabilities. Additionally, the Company’s embedded derivatives, all of which are associated with reinsurance treaties, and longevity and mortality swaps are classified in Level 3 since their values include significant unobservable inputs.

When inputs used to measure the fair value of an asset or liability fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety, except for fair value measurements using NAV. For example, a Level 3 fair value measurement may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Therefore, gains and losses for such assets and liabilities categorized within Level 3 may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3).

Assets and Liabilities by Hierarchy Level

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018 are summarized below (dollars in millions):



December 31, 2019:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	31,393	$	—	$	29,207	$	2,186
Canadian government	4,612		—		3,908		704
RMBS	2,398		—		2,349		49
ABS	2,978		—		2,865		113
CMBS	1,899		—		1,853		46
U.S. government	2,152		2,030		106		16
State and political subdivisions	1,164		—		1,155		9
Other foreign government	4,525		—		4,509		16
Total fixed maturity securities – available-for-sale	51,121		2,030		45,952		3,139
Equity securities	320		243		—		77
Funds withheld at interest – embedded derivatives	121		—		—		121
Cash equivalents	274		274		—		—
Short-term investments	32		4		26		2
Other invested assets:
Derivatives	117		—		117		—
FVO contractholder-directed unit-linked investments	260		207		53		—
Total other invested assets	377		207		170		—
Total	$	52,245	$	2,758	$	46,148	$	3,339
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	930	$	—	$	—	$	930
Other liabilities:
Derivatives	53		—		53		—
Total	$	983	$	—	$	53	$	930



December 31, 2018:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	23,982	$	—	$	22,651	$	1,331
Canadian government	3,892		—		3,364		528
RMBS	1,869		—		1,862		7
ABS	2,150		—		2,054		96
CMBS	1,419		—		1,419		—
U.S. government	2,186		2,068		100		18
State and political subdivisions	752		—		742		10
Other foreign government	3,742		—		3,737		5
Total fixed maturity securities – available-for-sale	39,992		2,068		35,929		1,995
Equity securities	82		49		—		33
Funds withheld at interest – embedded derivatives	110		—		—		110
Cash equivalents	485		473		12		—
Short-term investments	106		5		99		2
Other invested assets:
Derivatives	180		—		180		—
FVO contractholder-directed unit-linked investments	198		197		1		—
Total other invested assets	378		197		181		—
Other assets - longevity swaps	48		—		—		48
Total	$	41,201	$	2,792	$	36,221	$	2,188
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	945	$	—	$	—	$	945
Other liabilities:
Derivatives	27		—		27		—
Total	$	972	$	—	$	27	$	945

The Company may utilize information from third parties, such as pricing services and brokers, to assist in determining the fair value for certain assets and liabilities; however, management is ultimately responsible for all fair values presented in the Company’s financial statements. This includes responsibility for monitoring the fair value process, ensuring objective and reliable valuation practices and pricing of assets and liabilities, and approving changes to valuation methodologies and pricing sources. The selection of the valuation technique(s) to apply considers the definition of an exit price and the nature of the asset or liability being valued and significant expertise and judgment is required.

The Company performs initial and ongoing analysis and review of the various techniques utilized in determining fair value to ensure that they are appropriate and consistently applied, and that the various assumptions are reasonable. The Company analyzes and reviews the information and prices received from third parties to ensure that the prices represent a reasonable estimate of the fair value and to monitor controls around pricing, which includes quantitative and qualitative analysis and is overseen by the Company’s investment and accounting personnel. Examples of procedures performed include, but are not limited to, review of pricing trends, comparison of a sample of executed prices of securities sold to the fair value estimates, comparison of fair value estimates to management’s knowledge of the current market, and ongoing confirmation that third party pricing services use, wherever possible, market-based parameters for valuation. In addition, the Company utilizes both internal and external cash flow models to analyze the reasonableness of fair values utilizing credit spread and other market assumptions, where appropriate. As a result of the analysis, if the Company determines there is a more appropriate fair value based upon the available market data, the price received from the third party is adjusted accordingly. The Company also determines if the inputs used in estimated fair values received from pricing services are observable by assessing whether these inputs can be corroborated by observable market data.

For assets and liabilities reported at fair value, the Company utilizes when available, fair values based on quoted prices in active markets that are regularly and readily obtainable. Generally, these are very liquid investments and the valuation does not require management judgment. When quoted prices in active markets are not available, fair value is based on market valuation techniques, market comparable pricing and the income approach. The use of different techniques, assumptions and inputs may have a material effect on the estimated fair values of the Company’s securities holdings. For the periods presented, the application of market standard valuation techniques applied to similar assets and liabilities has been consistent.

The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below.

Fixed Maturity Securities – The fair values of the Company’s publicly-traded fixed maturity securities are generally based on prices obtained from independent pricing services. Prices from pricing services are sourced from multiple vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. The Company generally receives prices from multiple pricing services for each security, but ultimately uses the price from the vendor that is highest in the hierarchy for the respective asset type. To validate reasonableness, prices are periodically reviewed as explained above. Consistent with the fair value hierarchy described above, securities with quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. If the pricing information received from third party pricing services is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service.

If the Company ultimately concludes that pricing information received from the independent pricing service is not reflective of fair value, non-binding broker quotes are used, if available. If the Company concludes that the values from both pricing services and brokers are not reflective of fair value, an internally developed valuation may be prepared; however, this occurs infrequently. Internally developed valuations or non-binding broker quotes are also used to determine fair value in circumstances where vendor pricing is not available. These valuations may use significant unobservable inputs, which reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset. Observable market data may not be available in certain circumstances such as market illiquidity and credit events related to the security. Pricing service overrides, internally developed valuations and non-binding broker quotes are generally based on significant unobservable inputs and are reflected as Level 3 in the valuation hierarchy.

The inputs used in the valuation of corporate and government securities include, but are not limited to standard market observable inputs that are derived from, or corroborated by, market observable data including market yield curve, duration, call provisions, observable prices and spreads for similar publicly traded or privately placed issues that incorporate the credit quality and industry sector of the issuer. For private placements and structured securities, valuation is based primarily on matrix pricing or other similar techniques using standard market inputs including spreads for actively traded securities, spreads off benchmark yields, expected prepayment speeds and volumes, current and forecasted loss severity, rating, weighted average coupon, weighted average maturity, average delinquency rates, geographic region, debt service coverage ratios and issuance-specific information including, but not limited to: collateral type, payment terms of the underlying assets, payment priority within the tranche, structure of the security, deal performance and vintage of loans.

When observable inputs are not available, the market standard valuation techniques for determining the estimated fair value of certain types of securities that trade infrequently, and therefore have little or no price transparency, rely on inputs that are significant to the estimated fair value that are not observable in the market or cannot be derived principally from or corroborated by observable market data, such as market illiquidity. Other significant unobservable inputs used in the fair value measurement of the Company’s private debt investments include a multiple of earnings before interest, taxes, depreciation and amortization (“EBITDA”). These unobservable inputs can be based in large part on management judgment or estimation, and cannot be supported by reference to market activity. Even though unobservable, these inputs are based on assumptions deemed appropriate given the circumstances and are believed to be consistent with what other market participants would use when pricing such securities.

Embedded Derivatives – The fair value of embedded derivative liabilities, including those calculated by third parties, are monitored through the use of attribution reports to quantify the effect of underlying sources of fair value change, including capital market inputs based on policyholder account values, interest rates and short-term and long-term implied volatilities, from period to period. Actuarial assumptions are based on experience studies performed internally in combination with available industry information and are reviewed on a periodic basis, at least annually.

For embedded derivative liabilities associated with the underlying products in reinsurance treaties, primarily equity-indexed and variable annuity treaties, the Company utilizes a discounted cash flow model, which includes an estimate of future equity option purchases and an adjustment for a CVA. The variable annuity embedded derivative calculations are performed by third parties based on methodology and input assumptions provided by the Company. To validate the reasonableness of the resulting fair value, the Company’s internal actuaries perform reviews and analytical procedures on the results. The capital market inputs to the model, such as equity indexes, short-term equity volatility and interest rates, are generally observable. The valuation also requires certain significant inputs, which are generally not observable and accordingly, the valuation is considered Level 3 in the fair value hierarchy,

The fair value of embedded derivatives associated with funds withheld reinsurance treaties is determined based upon a total return swap technique with reference to the fair value of the investments held by the ceding company that support the Company’s funds withheld at interest asset with an adjustment for a CVA. The fair value of the underlying assets is generally based on market observable inputs using industry standard valuation techniques. The valuation also requires certain significant inputs, which are generally not observable and accordingly, the valuation is considered Level 3 in the fair value hierarchy.

Equity Securities – Equity securities consist principally of exchange-traded funds and common and preferred stock of publicly and privately traded companies. The fair values of publicly traded equity securities are primarily based on quoted market prices in active markets and are classified within Level 1 in the fair value hierarchy. Non-binding broker quotes and internally developed

evaluations for equity securities are generally based on significant unobservable inputs and are reflected as Level 3 in the fair value hierarchy.

Credit Valuation Adjustment – The Company uses a structural default risk model to estimate a CVA. The input assumptions are a combination of externally derived and published values (default threshold and uncertainty), market inputs (interest rate, equity price per share, debt per share, equity price volatility) and insurance industry data (Loss Given Default), adjusted for market recoverability.

Cash Equivalents and Short-Term Investments – Cash equivalents and short-term investments include money market instruments, and other highly liquid debt instruments. Money market instruments are generally valued using unadjusted quoted prices in active markets that are accessible for identical assets and are primarily classified as Level 1. The fair value of certain other cash equivalents and short-term investments, such as bonds with original maturities twelve months or less, are based upon other market observable data and are typically classified as Level 2. However, certain short-term investments may incorporate significant unobservable inputs resulting in a Level 3 classification. Various time deposits, certificates of deposit and sweeps carried as cash equivalents or short-term investments are not measured at estimated fair value and therefore are excluded from the tables presented.

FVO Contractholder-Directed Unit-Linked Investments – FVO contractholder-directed investments supporting unit-linked variable annuity type liabilities primarily consist of exchange-traded funds and, to a lesser extent, fixed maturity securities and cash and cash equivalents. The fair values of the exchange-traded securities are primarily based on quoted market prices in active markets and are classified within Level 1 of the hierarchy. The fair value of the fixed maturity contractholder-directed securities is determined on a basis consistent with the methodologies described above for fixed maturity securities and are classified within Level 2 of the hierarchy.

Derivative Assets and Derivative Liabilities – All of the derivative instruments utilized by the Company, except for longevity and mortality swaps, are classified within Level 2 on the fair value hierarchy. These derivatives are principally valued using an income approach. Valuations of interest rate contracts are based on present value techniques, which utilize significant inputs that may include the swap yield curve, London Interbank Offered Rate (“LIBOR”) basis curves, Overnight Index Swaps (“OIS”) curves, and repurchase rates. Valuations of foreign currency contracts are based on present value techniques, which utilize significant inputs that may include the swap yield curve, LIBOR basis curves, currency spot rates, and cross currency basis curves. Valuations of credit contracts, are based on present value techniques, which utilize significant inputs that may include the swap yield curve, credit curves, and recovery rates. Valuations of equity market contracts, are based on present value techniques, which utilize significant inputs that may include the swap yield curve, spot equity index levels, and dividend yield curves. Valuations of equity market contracts, option-based, are based on option pricing models, which utilize significant inputs that may include the swap yield curve, spot equity index levels, dividend yield curves, and equity volatility.

Longevity and Mortality Swaps – The Company utilizes a discounted cash flow model to estimate the fair value of longevity and mortality swaps. The fair value of these swaps includes an accrual for premiums payable and receivable. Some inputs to the valuation model are generally observable, such as interest rates and actual population mortality experience. The valuation also requires significant inputs that are generally not observable and, accordingly, the valuation is considered Level 3 in the fair value hierarchy.

Quantitative Information Regarding Internally-Priced Assets and Liabilities

The following table presents quantitative information about significant unobservable inputs used in Level 3 fair value measurements that are developed internally by the Company as of December 31, 2019 and 2018 (dollars in millions):



	Estimated Fair Value				Valuation	Unobservable	Range (Weighted Average)
Assets:	2019		2018		Technique	Input	2019		2018
Corporate	$	1,070	$	643	Market comparable securities	Liquidity premium	0-2% (1%)		0-5% (1%)
						EBITDA Multiple	5.2x-7.1x (6.7x)		5.9x-7.5x (6.5x)
ABS	101		78		Market comparable securities	Liquidity premium	0-4% (1%)		0-1% (1%)
U.S. government	16		18		Market comparable securities	Liquidity premium	0-1% (1%)		0-1% (1%)
Other foreign government	16		5		Market comparable securities	Liquidity premium	0-1% (1%)		1	%
Equity securities	32		25		Market comparable securities	Liquidity premium	4	%	4	%
						EBITDA Multiple	6.9x-9.3x (7.8x)		6.9x-12.3x (7.9x)
Funds withheld at interest- embedded derivatives	121		110		Total return swap	Mortality	0-100% (2%)		0-100% (2%)
						Lapse	0-35% (13%)		0-35% (10%)
						Withdrawal	0-5% (3%)		0-5% (3%)
						CVA	0-5% (1%)		0-5% (1%)
						Crediting rate	2-4% (2%)		2-4% (2%)
Longevity swaps	—		48		Discounted cash flow	Mortality	—		0-100% (2%)
						Mortality improvement	—		(10%)-10% (3%)
Liabilities:
Interest-sensitive contract liabilities- embedded derivatives- indexed annuities	768		777		Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
						Lapse	0-35% (13%)		0-35% (10%)
						Withdrawal	0-5% (3%)		0-5% (3%)
						Option budget projection	2-4% (2%)		2-4% (2%)
Interest-sensitive contract liabilities- embedded derivatives- variable annuities	163		168		Discounted cash flow	Mortality	0-100% (1%)		0-100% (1%)
						Lapse	0-25% (5%)		0-25% (5%)
						Withdrawal	0-7% (5%)		0-7% (5%)
						CVA	0-5% (1%)		0-5% (1%)
						Long-term volatility	0-27% (12%)		0-27% (13%)
Mortality swaps	—		—		Discounted cash flow	Mortality	—		0-100% (1%)

Changes in Level 3 Assets and Liabilities

Assets and liabilities transferred into Level 3 are due to a lack of observable market transactions and price information. Transfers out of Level 3 are primarily the result of the Company obtaining observable pricing information or a third party pricing quotation that appropriately reflects the fair value of those assets and liabilities. In 2018, the Company transferred equity securities with a fair value of approximately $39 million into Level 3 as a result of the adoption of the accounting guidance for the recognition and measurement of equity securities.

The reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are as follows (dollars in millions):



For the year ended December 31, 2019:	Fixed maturity securities - available-for-sale																	Funds withheld at interest-embedded derivatives		Other assets - longevity and mortality swaps			Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt		Structured securities			U.S. and local govt			Equity securities			Short-term investments			Funds withheld at interest-embedded derivatives		Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,331		$	533	$	103		$	28		$	33		$	2		$	110	$	48		$	(945	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	1			15		—			—			—			—			—		—			—
Investment related gains (losses), net	(11		)	—		—			—			12			—			11		—			5
Interest credited	—			—		—			—			—			—			—		—			(57		)
Included in other comprehensive income	48			162		4			1			—			(1		)	—		(2		)	—
Other revenue	—			—		—			—			—			—			—		12			—
Purchases⁽¹⁾	1,050			10		85			—			33			30			—		—			(17		)
Sales⁽¹⁾	(81		)	—		(1		)	—			(1		)	(1		)	—		—			—
Settlements⁽¹⁾	(194		)	—		(63		)	(4		)	—			(1		)	—		(58		)	84
Transfers into Level 3	43			—		86			—			—			—			—		—			—
Transfers out of Level 3	(1		)	—		(6		)	—			—			(27		)	—		—			—
Fair value, end of period	$	2,186		$	720	$	208		$	25		$	77		$	2		$	121	$	—		$	(930	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	2		$	15	$	—		$	—		$	—		$	—		$	—	$	—		$	—
Investment related gains (losses), net	(11		)	—		—			—			12			—			11		—			(3		)
Other revenues	—			—		—			—			—			—			—		—			—
Interest credited	—			—		—			—			—			—			—		—			(140		)



For the year ended December 31, 2018:	Fixed maturity securities - available-for-sale																		Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps			Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt			Structured securities			U.S. and local govt			Equity securities			Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,337		$	599		$	235		$	64		$	—		$	3		$	122		$	39		$	(1,014	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1		)	14			—			—			—			—			—			—			—
Investment related gains (losses), net	(5		)	—			2			—			(13		)	—			(12		)	—			(15		)
Interest credited	—			—			—			—			—			—			—			—			27
Included in other comprehensive income	(33		)	(80		)	(3		)	—			—			—			—			(2		)	—
Other revenue	—			—			—			—			—			—			—			9			—
Purchases⁽¹⁾	509			—			94			—			14			3			—			—			(19		)
Sales⁽¹⁾	(106		)	—			(7		)	—			(7		)	—			—			—			—
Settlements⁽¹⁾	(273		)	—			(62		)	(5		)	—			(1		)	—			2			76
Transfers into Level 3	10			—			78			10			39			—			—			—			—
Transfers out of Level 3	(107		)	—			(234		)	(41		)	—			(3		)	—			—			—
Fair value, end of period	$	1,331		$	533		$	103		$	28		$	33		$	2		$	110		$	48		$	(945	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1	)	$	14		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Investment related gains (losses), net	(6		)	—			—			—			(16		)	—			(12		)	—			(22		)
Other revenues	—			—			—			—			—			—			—			9			—
Interest credited	—			—			—			—			—			—			—			—			(49		)



For the year ended December 31, 2017:	Fixed maturity securities - available-for-sale															Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps		Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt			Structured securities			U.S. and local govt			Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,272		$	489		$	401		$	66		$	3		$	(23	)	$	25	$	(990	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1		)	13			2			—			—			—			—		—
Investment related gains (losses), net	5			—			—			—			—			145			—		32
Interest credited	—			—			—			—			—			—			—		(80		)
Included in other comprehensive income	(7		)	105			9			—			—			—			4		—
Other revenue	—			—			—			—			—			—			8		—
Purchases⁽¹⁾	409			—			123			—			4			—			—		(55		)
Sales⁽¹⁾	(89		)	—			(32		)	—			—			—			—		—
Settlements⁽¹⁾	(286		)	(1		)	(112		)	(2		)	—			—			2		79
Transfers into Level 3	47			—			96			7			—			—			—		—
Transfers out of Level 3	(13		)	(7		)	(252		)	(7		)	(4		)	—			—		—
Fair value, end of period	$	1,337		$	599		$	235		$	64		$	3		$	122		$	39	$	(1,014	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1	)	$	13		$	—		$	—		$	—		$	—		$	—	$	—
Investment related gains (losses), net	(5		)	—			—			—			—			145			—		23
Other revenues	—			—			—			—			—			—			8		—
Interest credited	—			—			—			—			—			—			—		(159		)


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Nonrecurring Fair Value Measurements

The following table presents information for assets measured at an estimated fair value on a nonrecurring basis during the periods presented and still held at the reporting date (for example, when there is evidence of impairment). The estimated fair values for these assets were determined using significant unobservable inputs (Level 3).



	Carrying Value After Measurement				Net Investment Gains (Losses)
	At December 31,				Years ended December 31,
(dollars in millions)	2019		2018		2019			2018
Limited partnership interests and real estate joint ventures⁽¹⁾	$	18	$	5	$	(11	)	$	(3	)

(1)

Fair Value of Financial Instruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis, as of December 31, 2019 and 2018 (dollars in millions). This table excludes any payables or receivables for collateral under repurchase agreements and other transactions. The estimated fair value of the excluded amount approximates carrying value as they equal the amount of cash collateral received/paid.



			Estimated Fair		Fair Value Measurement Using:
December 31, 2019:	Carrying Value ⁽¹⁾		Value		Level 1		Level 2		Level 3		NAV
Assets:
Mortgage loans on real estate	$	5,706	$	5,935	$	—	$	—	$	5,935	$	—
Policy loans	1,319		1,319		—		1,319		—		—
Funds withheld at interest	5,526		5,870		—		—		5,870		—
Cash and cash equivalents	1,175		1,175		1,175		—		—		—
Short-term investments	32		32		32		—		—		—
Other invested assets	1,259		1,278		5		68		803		402
Accrued investment income	493		493		—		493		—		—
Liabilities:
Interest-sensitive contract liabilities	$	19,163	$	21,542	$	—	$	—	$	21,542	$	—
Long-term debt	2,981		3,179		—		—		3,179		—
Collateral finance and securitization notes	598		551		—		—		551		—

December 31, 2018:
Assets:
Mortgage loans on real estate	$	4,966	$	4,917	$	—	$	—	$	4,917	$	—
Policy loans	1,345		1,345		—		1,345		—		—
Funds withheld at interest	5,655		5,803		—		—		5,803		—
Cash and cash equivalents	1,405		1,405		1,405		—		—		—
Short-term investments	37		37		37		—		—		—
Other invested assets	946		941		5		83		477		376
Accrued investment income	428		428		—		428		—		—
Liabilities:
Interest-sensitive contract liabilities	$	14,547	$	14,611	$	—	$	—	$	14,611	$	—
Long-term debt	2,788		2,752		—		—		2,752		—
Collateral finance and securitization notes	682		627		—		—		627		—


(1)	Carrying values presented herein may differ from those in the Company’s consolidated balance sheets because certain items within the respective financial statement captions may be measured at fair value on a recurring basis.

Mortgage Loans on Real Estate – The fair value of mortgage loans on real estate is estimated by discounting cash flows, both principal and interest, using current interest rates for mortgage loans with similar credit ratings and similar remaining maturities. As such, inputs include current treasury yields and spreads, which are based on the credit rating and average life of the loan, corresponding to the market spreads. The valuation of mortgage loans on real estate is considered Level 3 in the fair value hierarchy.

Policy Loans – Policy loans typically carry an interest rate that is adjusted annually based on an observable market index and therefore carrying value approximates fair value. The valuation of policy loans is considered Level 2 in the fair value hierarchy.

Funds Withheld at Interest – The carrying value of funds withheld at interest approximates fair value except where the funds withheld are specifically identified in the agreement. When funds withheld are specifically identified in the agreement, the fair value is based on the fair value of the underlying assets that are held by the ceding company. Ceding companies use a variety of sources and pricing methodologies, which are not transparent to the Company and may include significant unobservable inputs, to value the securities that are held in distinct portfolios, therefore the valuation of these funds withheld assets are considered Level 3 in the fair value hierarchy.

Cash and Cash Equivalents and Short-term Investments – The carrying values of cash and cash equivalents and short-term investments approximates fair values due to the short-term maturities of these instruments and are considered Level 1 in the fair value hierarchy.

Other Invested Assets – This primarily includes limited partnership interests accounted for using the cost method, FHLB common stock, cash collateral and lifetime mortgages. The fair value of limited partnership interests and other investments accounted for using the cost method is determined using the NAV of the Company’s ownership interest as provided in the financial statements of the investees. The fair value of the Company’s common stock investment in the FHLB is considered to be the carrying value and it is considered Level 2 in the fair value hierarchy. The fair value of the Company’s cash collateral is considered to be the carrying value and considered to be Level 1 in the fair value hierarchy. The fair value of the Company’s lifetime mortgage loan portfolio, considered Level 3 in the fair value hierarchy, is estimated by discounting cash flows, both principal and interest, using a risk-free rate plus an illiquidity premium. The cash flow analysis considers future expenses, changes in property prices, and actuarial analysis of borrower behavior, mortality and morbidity.

Accrued Investment Income – The carrying value for accrued investment income approximates fair value as there are no adjustments made to the carrying value. This is considered Level 2 in the fair value hierarchy.

Interest-Sensitive Contract Liabilities – The carrying and fair values of interest-sensitive contract liabilities reflected in the table above exclude contracts with significant mortality risk. The fair value of the Company’s interest-sensitive contract liabilities utilizes a market standard technique with both capital market inputs and policyholder behavior assumptions, as well as cash values adjusted for recapture fees. The capital market inputs to the model, such as interest rates, are generally observable. Policyholder behavior assumptions are generally not observable and may require use of significant management judgment. The valuation of interest-sensitive contract liabilities is considered Level 3 in the fair value hierarchy.

Long-term Debt/Collateral Finance and Securitization Notes – The fair value of the Company’s long-term debt, and collateral finance and securitization notes is generally estimated by discounting future cash flows using market rates currently available for debt with similar remaining maturities and reflecting the credit risk of the Company, including inputs when available, from actively traded debt of the Company or other companies with similar credit quality. The valuation of long-term debt, and collateral finance and securitization notes is generally obtained from brokers and is considered Level 3 in the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Equity Equity (Common Stock Changes in Number of Shares Issued, Held in Treasury and Oustanding) (Details) - shares

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Class of Stock [Line Items]

Common Stock, Shares, Issued

79,137,758

Common Stock Issuable [Member]

Class of Stock [Line Items]

Common Stock, Shares, Issued

79,137,758

Stock Based Compensation Shares

^[1]

Treasury Stock, Shares, Acquired

Common Stock Held In Treasury [Member]

Class of Stock [Line Items]

Common Stock, Shares, Issued

16,481,656

16,323,390

14,685,663

14,835,256

Stock Based Compensation Shares

^[1]

(388,348)

(294,328)

(358,273)

Treasury Stock, Shares, Acquired

(546,614)

(1,932,055)

(208,680)

Common Stock Outstanding [Member]

Class of Stock [Line Items]

Common Stock, Shares, Issued

62,656,102

62,814,368

64,452,095

64,302,502

Stock Based Compensation Shares

^[1]

(388,348)

(294,328)

(358,273)

Treasury Stock, Shares, Acquired

(546,614)

(1,932,055)

(208,680)

[1]	Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company has geographic-based and business-based operational segments. Geographic-based operations are further segmented into traditional and financial solutions businesses.

The U.S. and Latin America Traditional segment provides individual and group life and health reinsurance to domestic clients for a variety of products through yearly renewable term agreements, coinsurance, and modified coinsurance. The U.S. and Latin America Financial Solutions segment includes asset-intensive products that concentrate on the investment risk within underlying annuities and corporate-owned life insurance policies, financial reinsurance, and capital solutions that assists ceding companies in meeting applicable regulatory requirements while enhancing their financial strength and regulatory surplus position.

The Canada Traditional segment is primarily engaged in individual life reinsurance, and to a lesser extent creditor, group life and health, critical illness and disability reinsurance, through yearly renewable term and coinsurance agreements. The Canada Financial Solutions segment concentrates on assisting clients with longevity risk transfer structures within underlying annuities and pension benefit obligations, and provides capital solutions to assist clients in meeting applicable regulatory requirements while enhancing their financial strength and regulatory surplus position through financial reinsurance and other capital solutions structures.

The Europe, Middle East and Africa Traditional segment provides individual and group life and health products through yearly renewable term and coinsurance agreements, reinsurance of critical illness coverage that provides a benefit in the event of the diagnosis of a pre-defined critical illness and underwritten annuities. The Europe, Middle East and Africa Financial Solutions segment provides longevity, asset-intensive and financial reinsurance. Longevity reinsurance takes the form of closed block annuity reinsurance and longevity swap structures.

The Asia Pacific Traditional segment provides individual and group life and health reinsurance, critical illness coverage, disability and superannuation through yearly renewable term and coinsurance agreements. The Asia Pacific Financial Solutions segment provides financial reinsurance, asset-intensive and certain disability and life blocks.

Corporate and Other revenues primarily include investment income from unallocated invested assets, investment related gains and losses and service fees. Corporate and Other expenses consist of the offset to capital charges allocated to the operating segments within the policy acquisition costs and other insurance income line item, unallocated overhead and executive costs, interest expense related to debt, and the investment income and expense associated with the Company’s collateral finance and securitization transactions and service business expenses. Additionally, Corporate and Other includes results from certain wholly-owned subsidiaries, such as RGAx, and joint ventures that, among other activities, develop and market technology, and provide consulting and outsourcing solutions for the insurance and reinsurance industries. In the past two years, the Company has increased its investment and expenditures in this area in an effort to both support its clients and generate new future revenue streams.

The accounting policies of the segments are the same as those described in Note 2 – “Significant Accounting Policies and Pronouncements.” The Company measures segment performance primarily based on profit or loss from operations before income taxes. There are no intersegment reinsurance transactions and the Company does not have any material long-lived assets.

The Company allocates capital to its segments based on an internally developed economic capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model considers the unique and specific nature of the risks inherent in the Company’s businesses. As a result of the economic capital allocation process, a portion of investment income is attributed to the segments based on the level of allocated capital. In addition, the

segments are charged for excess capital utilized above the allocated economic capital basis. This charge is included in policy acquisition costs and other insurance expenses.

Information related to revenues, income (loss) before income taxes, interest expense, depreciation and amortization, and assets of the Company’s operations are summarized below (dollars in millions):



For the years ended December 31,	2019		2018		2017
Revenues:
U.S. and Latin America:
Traditional	$	6,500	$	6,296	$	6,100
Financial Solutions	1,279		907		1,151
Total	7,779		7,203		7,251
Canada:
Traditional	1,286		1,224		1,103
Financial Solutions	99		49		49
Total	1,385		1,273		1,152
Europe, Middle East and Africa:
Traditional	1,520		1,495		1,362
Financial Solutions	450		350		311
Total	1,970		1,845		1,673
Asia Pacific:
Traditional	2,681		2,417		2,210
Financial Solutions	228		54		74
Total	2,909		2,471		2,284
Corporate and Other	257		84		156
Total	$	14,300	$	12,876	$	12,516



For the years ended December 31,	2019			2018			2017
Income (loss) before income taxes:
U.S. and Latin America:
Traditional	$	265		$	286		$	373
Financial Solutions	398			251			402
Total	663			537			775
Canada:
Traditional	168			112			120
Financial Solutions	15			10			17
Total	183			122			137
Europe, Middle East and Africa:
Traditional	80			55			70
Financial Solutions	223			197			124
Total	303			252			194
Asia Pacific:
Traditional	105			178			149
Financial Solutions	23			(6		)	13
Total	128			172			162
Corporate and Other	(145		)	(237		)	(125		)
Total	$	1,132		$	846		$	1,143



For the years ended December 31,	2019		2018		2017
Interest expense:
Corporate and Other	$	173	$	147	$	146
Total	$	173	$	147	$	146



For the years ended December 31,	2019		2018		2017
Depreciation and amortization:
U.S. and Latin America:
Traditional	$	291	$	273	$	285
Financial Solutions	143		95		209
Total	434		368		494
Canada:
Traditional	20		22		24
Financial Solutions	—		—		—
Total	20		22		24
Europe, Middle East and Africa:
Traditional	56		45		35
Financial Solutions	1		—		—
Total	57		45		35
Asia Pacific:
Traditional	60		115		114
Financial Solutions	16		2		1
Total	76		117		115
Corporate and Other	22		22		38
Total	$	609	$	574	$	706

The table above includes amortization of DAC, including the effect from investment related gains and losses.



For the years ended December 31,	2019		2018
Assets:
U.S. and Latin America:
Traditional	$	19,353	$	19,236
Financial Solutions	25,117		19,870
Total	44,470		39,106
Canada:
Traditional	4,361		4,201
Financial Solutions	64		154
Total	4,425		4,355
Europe, Middle East and Africa:
Traditional	4,032		3,643
Financial Solutions	6,502		4,738
Total	10,534		8,381
Asia Pacific:
Traditional	6,800		5,681
Financial Solutions	2,557		1,181
Total	9,357		6,862
Corporate and Other	7,945		5,831
Total	$	76,731	$	64,535

Companies in which the Company has significant influence over the operating and financing decisions but are not required to be consolidated, are reported on the equity basis of accounting. The equity in the net income of such investments is not material to the results of operations or financial position of individual segments or the Company taken as a whole. Capital expenditures of each reporting segment were immaterial in the periods noted.

No individual client generated 10% or more of the Company’s total gross premiums and other revenues on a consolidated basis in 2019, 2018 and 2017. For the purpose of this disclosure, companies that are within the same insurance holding company structure are combined.

Debt (Schedule of Long-term Debt Instruments) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2006
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,003,000,000	$ 2,807,000,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	22,000,000	19,000,000
Debt Instrument, Face Amount			$ 850,000,000
Long-term debt	2,981,000,000	2,788,000,000
Senior Notes Due 2017 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000,000
Debt Instrument, Maturity Date	Dec. 31, 2017
Debt Instrument, Interest Rate, Stated Percentage	5.625%
Senior Notes Due 2019 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0	400,000,000
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument, Maturity Date	Dec. 31, 2019
Debt Instrument, Interest Rate, Stated Percentage	6.45%
Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000,000	400,000,000
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument, Maturity Date	Dec. 31, 2021
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 399,000,000	399,000,000
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument, Maturity Date	Dec. 31, 2023
Debt Instrument, Interest Rate, Stated Percentage	4.70%
Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000,000	400,000,000
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument, Maturity Date	Dec. 31, 2026
Debt Instrument, Interest Rate, Stated Percentage	3.95%
Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 599,000,000	0
Debt Instrument, Face Amount	$ 600,000,000
Debt Instrument, Maturity Date	Dec. 31, 2029
Debt Instrument, Interest Rate, Stated Percentage	3.90%
Subordinated Debentures Due 2042 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000,000	400,000,000
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument, Maturity Date	Dec. 31, 2042
Debt Instrument, Interest Rate, Stated Percentage	6.20%
Subordinated Debentures Due 2056 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000,000	400,000,000
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument, Maturity Date	Dec. 31, 2056
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Junior Subordinated Debentures Due 2065 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 319,000,000	319,000,000
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument, Maturity Date	Dec. 31, 2065
Debt Instrument, Interest Rate, Stated Percentage	4.82%
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 86,000,000	$ 89,000,000
Debt Instrument, Face Amount	$ 100,000,000
Debt Instrument, Maturity Date	Dec. 31, 2039
Debt Instrument, Interest Rate, Stated Percentage	4.09%

Derivative Instruments

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

DERIVATIVE INSTRUMENTS

Accounting for Derivative Instruments and Hedging Activities

See Note 2 – “Significant Accounting Policies and Pronouncements” for a detailed discussion of the accounting treatment for derivative instruments, including embedded derivatives and Note 6 – “Fair Value of Assets and Liabilities” for additional disclosures related to the fair value hierarchy for derivative instruments, including embedded derivatives.

Types of Derivatives Used by the Company

Credit Derivatives

The Company sells protection under single name credit default swaps and credit default swap index tranches to diversify its credit risk exposure in certain portfolios and, in combination with purchasing securities, to replicate characteristics of similar investments based on the credit quality and term of the credit default swap. Credit default triggers for indexed reference entities and single name reference entities are defined in the contracts. The Company’s maximum exposure to credit loss equals the notional value for credit default swaps. In the event of default of a referencing entity, the Company is typically required to pay the protection holder the full notional value less a recovery amount determined at auction.

The Company also purchases credit default swaps to reduce its risk against a drop in bond prices due to credit concerns of certain bond issuers. If a credit event, as defined by the contract, occurs, the Company is able to put the bond back to the counterparty at par.

Equity Derivatives

Exchange-traded equity futures are used primarily to economically hedge liabilities embedded in certain variable annuity products. With exchange-traded equity futures transactions, the Company agrees to purchase or sell a specified number of contracts, the value of which is determined by the relevant stock indices, and to post variation margin on a daily basis in an amount equal to the difference between the daily estimated fair values of those contracts. The Company enters into exchange-traded equity futures with regulated futures commission merchants that are members of the exchange.

Equity index options are used by the Company primarily to hedge minimum guarantees embedded in certain variable annuity products. To hedge against adverse changes in equity indices volatility, the Company buys put options. The contracts are net settled in cash based on differentials in the indices at the time of exercise and the strike price.

Foreign Currency Derivatives

Foreign currency swaps are used by the Company to reduce the risk from fluctuations in foreign currency exchange rates associated with its assets and liabilities denominated in foreign currencies. With a foreign currency swap transaction, the Company agrees with another party to exchange, at specified intervals, the difference between one currency and another at a forward exchange rate calculated by reference to an agreed upon principal amount. The principal amount of each currency is exchanged at the termination of the currency swap by each party. The Company uses foreign currency swaps in hedges of net investments in foreign operations and fair value hedges.

Foreign currency forwards are used by the Company to reduce the risk from fluctuations in foreign currency exchange rates associated with its assets and liabilities denominated in foreign currencies. With a foreign currency forward transaction, the Company agrees with another party to deliver a specified amount of an identified currency at a specified future date. The price is agreed upon at the time of the contract and payment for such a contract is made in a different currency at the specified future date. The Company uses foreign currency forwards in hedges of net investments in foreign operations and non-qualifying hedge relationships.

Interest Rate Derivatives

Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates, to alter interest rate exposure arising from mismatches between assets and liabilities (duration mismatches) and to manage the risk of cash flows of liabilities that are variable based on a benchmark rate. With an interest rate swap, the Company agrees with another party to exchange, at specified intervals, the difference between two rates, which can be either fixed-rate or floating-rate interest amounts, tied to an agreed-upon notional principal amount. These transactions are executed pursuant to master agreements that provide for a single net payment or individual gross payments at each due date. The Company utilizes interest rate swaps in cash flow and non-qualifying hedging relationships.

Other Derivatives

Consumer price index (“CPI”) swaps are used by the Company primarily to economically hedge liabilities embedded in certain insurance products where value is directly affected by changes in a designated benchmark consumer price index. With a CPI swap transaction, the Company agrees with another party to exchange the actual amount of inflation realized over a specified period of time for a fixed amount of inflation determined at inception. These transactions are executed pursuant to master agreements that provide for a single net payment or individual gross payments to be made by the counterparty at each due date. Most of these swaps will require a single payment to be made by one counterparty at the maturity date of the swap.

The Company has entered into longevity swaps in the form of out-of-the-money options, which provide protection against changes in mortality improvement to retirement plans and insurers of such plans. With a longevity swap transaction, the Company agrees with another party to exchange a proportion of a notional value. The proportion is determined by the difference between a predefined benefit, and the realized benefit plus the future expected benefit, calculated by reference to a population index for a fixed premium.

Mortality swaps have been used by the Company to hedge risk from changes in mortality experience associated with its reinsurance of life insurance risk. The Company agrees with another party to exchange, at specified intervals, a proportion of a notional value determined by the difference between a predefined expected and realized claim amount on a designated index of reinsured lives, for a fixed percentage (premium) each term.

The Company sells fee-based synthetic guaranteed investment contracts (“GICs”) to retirement plans that include investment-only, stable value contracts. The assets are owned by the trustees of such plans, who invest the assets under the terms of investment guidelines to which the Company agrees. The contracts contain a guarantee of a minimum rate of return on participant balances supported by the underlying assets, and a guarantee of liquidity to meet certain participant-initiated plan cash flow requirements. These contracts are reported as derivatives and recorded at fair value.

The Company has certain embedded derivatives that are required to be separated from their host contracts and reported as derivatives. Host contracts include reinsurance treaties structured on a modco or funds withheld basis. Additionally, the Company reinsures equity-indexed annuity and variable annuity contracts with benefits that are considered embedded derivatives, including guaranteed minimum withdrawal benefits, guaranteed minimum accumulation benefits, and guaranteed minimum income benefits. The changes in fair values of embedded derivatives on equity-indexed annuities described below relate to changes in the fair value associated with capital market and other related assumptions. The Company’s utilization of a credit valuation adjustment did not have a material effect on the change in fair value of its embedded derivatives for the years ended December 31, 2019, 2018 and 2017.

Summary of Derivative Positions

Derivatives, except for embedded derivatives and longevity and mortality swaps, are carried on the Company’s consolidated balance sheets in other invested assets or other liabilities, at fair value. Longevity and mortality swaps are included on the consolidated balance sheets in other assets or other liabilities, at fair value. Embedded derivative assets and liabilities on modco or funds withheld arrangements are included on the consolidated balance sheets with the host contract in funds withheld at interest, at fair value. Embedded derivative liabilities on indexed annuity and variable annuity products are included on the consolidated balance sheets with the host contract in interest-sensitive contract liabilities, at fair value. The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of December 31, 2019 and 2018 (dollars in millions):



		December 31, 2019						December 31, 2018
	Primary Underlying Risk	Notional		Carrying Value/Fair Value				Notional		Carrying Value/Fair Value
	Primary Underlying Risk	Amount		Assets		Liabilities		Amount		Assets		Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps	Interest rate	$	909	$	70	$	3	$	1,041	$	47	$	1
Financial futures	Equity	307		—		—		326		—		—
Foreign currency swaps	Foreign currency	150		—		9		150		1		5
Foreign currency forwards	Foreign currency	175		1		—		25		—		—
CPI swaps	CPI	441		—		28		386		—		11
Credit default swaps	Credit	1,306		5		—		1,338		6		1
Equity options	Equity	364		15		—		439		43		—
Longevity swaps	Longevity	—		—		—		917		48		—
Mortality swaps	Mortality	—		—		—		25		—		—
Synthetic GICs	Interest rate	13,823		—		—		13,397		—		—
Embedded derivatives in:
Modco or funds withheld arrangements		—		121		—		—		110		—
Indexed annuity products		—		—		767		—		—		777
Variable annuity products		—		—		163		—		—		168
Total non-hedging derivatives		17,475		212		970		18,044		255		963
Derivatives designated as hedging instruments:
Interest rate swaps	Foreign currency/Interest rate	535		1		29		435		—		27
Foreign currency swaps	Foreign currency	342		17		2		495		51		—
Foreign currency forwards	Foreign currency	1,094		28		2		911		51		—
Total hedging derivatives		1,971		46		33		1,841		102		27
Total derivatives		$	19,446	$	258	$	1,003	$	19,885	$	357	$	990

Fair Value Hedges

The Company designates and reports certain foreign currency swaps to hedge the foreign currency fair value exposure of foreign currency denominated assets as fair value hedges when they meet the requirements of the general accounting principles for Derivatives and Hedging. The gain or loss on the hedged item attributable to a change in foreign currency and the offsetting gain or loss on the related foreign currency swaps as of December 31, 2019, 2018 and 2017 were (dollars in millions):



Type of Fair Value Hedge	Hedged Item	Gains (Losses) Recognized for Derivatives			Gains (Losses) Recognized for Hedged Items
		Investment Related Gains (Losses)
For the Year Ended December 31, 2019:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(4	)	$	—
For the Year Ended December 31, 2018:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(11	)	$	12
For the Year Ended December 31, 2017:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	9		$	(9	)

Cash Flow Hedges

Certain derivative instruments are designated as cash flow hedges when they meet the requirements of the general accounting principles for Derivatives and Hedging. The Company designates and accounts for the following as cash flows: (i) certain interest rate swaps, in which the cash flows of assets and liabilities are variable based on a benchmark rate; (ii) certain interest rate swaps, in which the cash flows of assets are denominated in different currencies, commonly referred to as cross-currency swaps; and (iii) forward bond purchase commitments.



	Amounts Included in AOCI
Balance December 31, 2016	$	(2	)
Gains (losses) deferred in other comprehensive income (loss)	6
Amounts reclassified to investment related (gains) losses, net	(1		)
Amounts reclassified to investment income	—
Amounts reclassified to interest expense	—
Balance December 31, 2017	3
Gains (losses) deferred in other comprehensive income (loss)	6
Amounts reclassified to investment income	—
Amounts reclassified to interest expense	—
Balance December 31, 2018	9
Gains (losses) deferred in other comprehensive income (loss)	(34		)
Amounts reclassified to investment income	—
Amounts reclassified to interest expense	(1		)
Balance December 31, 2019	$	(26	)

As of December 31, 2019, there are no material amounts recorded in AOCI that are expected to be reclassified to earnings during the next twelve months.



Derivative Type	Gains (Losses) Deferred in OCI			Gains (Losses) Reclassified into Income from OCI
For the year ended December 31, 2019:				Investment Related Gains (Losses)		Investment Income		Interest Expense
Interest rate	$	(32	)	$	—	$	—	$	1
Foreign currency/Interest rate	(2		)	—		—		—
Forward bond purchase commitments	—			—		—		—
Total	$	(34	)	$	—	$	—	$	1

For the year ended December 31, 2018:
Interest rate	$	12		$	—	$	—	$	—
Foreign currency/Interest rate	(6		)	—		—		—
Forward bond purchase commitments	—			—		—		—
Total	$	6		$	—	$	—	$	—

For the year ended December 31, 2017:
Interest rate	$	(6	)	$	—	$	—	$	—
Foreign currency/Interest rate	12			—		—		—
Forward bond purchase commitments	—			1		—		—
Total	$	6		$	1	$	—	$	—

For the years ended December 31, 2019, 2018 and 2017, there were no material amounts reclassified into earnings relating to instances in which the Company discontinued cash flow hedge accounting because the forecasted transaction did not occur by the anticipated date or within the additional time period permitted by the authoritative guidance for the accounting for derivatives and hedging.

Hedges of Net Investments in Foreign Operations

The Company uses foreign currency swaps and foreign currency forwards to hedge a portion of its net investment in certain foreign operations against adverse movements in exchange rates. The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):



	Derivative Gains (Losses) Deferred in AOCI
	For the year ended
Type of NIFO Hedge ⁽¹⁾	2019			2018		2017
Foreign currency swaps	$	(9	)	$	31	$	(38	)
Foreign currency forwards	(24		)	56		(10		)


(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.

The cumulative foreign currency translation gain recorded in AOCI related to these hedges was $168 million and $201 million as of December 31, 2019 and 2018, respectively. If a hedged foreign operation was sold or substantially liquidated, the amounts in AOCI would be reclassified to the consolidated statements of income. A pro rata portion would be reclassified upon partial sale of a hedged foreign operation.

Non-qualifying Derivatives and Derivatives for Purposes Other Than Hedging

The Company uses various other derivative instruments for risk management purposes that either do not qualify or have not been qualified for hedge accounting treatment. The gain or loss related to the change in fair value for these derivative instruments is recognized in investment related gains (losses), net in the consolidated statements of income, except where otherwise noted.



		Gains (Losses) for the Years Ended December 31,
Type of Non-hedging Derivative	Income Statement Location of Gains (Losses)	2019			2018			2017
Interest rate swaps	Investment related gains (losses), net	$	65		$	(21	)	$	11
Financial futures	Investment related gains (losses), net	(46		)	21			(36		)
Foreign currency swaps	Investment related gains (losses), net	—			(4		)	—
Foreign currency forwards	Investment related gains (losses), net	1			—			1
Consumer price index swaps	Investment related gains (losses), net	(18		)	(10		)	(2		)
Credit default swaps	Investment related gains (losses), net	30			(2		)	18
Equity options	Investment related gains (losses), net	(40		)	7			(43		)
Longevity swaps	Other revenues	13			9			9
Mortality swaps	Other revenues	(1		)	—			(1		)
Subtotal		4			—			(43		)
Embedded derivatives in:
Modco or funds withheld arrangements	Investment related gains (losses), net	11			(13		)	145
Indexed annuity products	Interest credited	(57		)	27			(80		)
Variable annuity products	Investment related gains (losses), net	5			(15		)	32
Total non-hedging derivatives		$	(37	)	$	(1	)	$	54

Credit Derivatives



	2019					2018
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+/AA/AA-/A+/A/A-
Single name credit default swaps	$	2	$	142	1.7	$	2	$	152	2.2
Subtotal	2		142		1.7	2		152		2.2
BBB+/BBB/BBB-
Single name credit default swaps	3		291		1.9	3		354		2.2
Credit default swaps referencing indices	—		873		4.7	—		817		6.4
Subtotal	3		1,164		4.0	3		1,171		5.1
BB+/BB/BB-
Single name credit default swaps	—		—		0.0	—		15		0.7
Subtotal	—		—		0.0	—		15		0.7
Total	$	5	$	1,306	3.7	$	5	$	1,338	4.7


(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.

Netting Arrangements and Credit Risk

Certain of the Company’s derivatives are subject to enforceable master netting arrangements and reported as a net asset or liability in the consolidated balance sheets. The Company nets all derivatives that are subject to such arrangements.

The Company has elected to include all derivatives, except embedded derivatives, in the tables below, irrespective of whether they are subject to an enforceable master netting arrangement or a similar agreement. See Note 4 – “Investments” for information regarding the Company’s securities borrowing, lending, repurchase and repurchase/reverse repurchase programs. See “Embedded Derivatives” above for information regarding the Company’s bifurcated embedded derivatives.

The following table provides information relating to the netting of the Company’s derivative instruments as of December 31, 2019 and December 31, 2018 (dollars in millions):



								Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments⁽¹⁾			Cash Collateral Pledged/ Received			Net Amount
December 31, 2019:
Derivative assets	$	137	$	(20	)	$	117	$	—		$	(119	)	$	(2	)
Derivative liabilities	73		(20		)	53		(92		)	(52		)	(91		)
December 31, 2018:
Derivative assets	$	247	$	(19	)	$	228	$	—		$	(235	)	$	(7	)
Derivative liabilities	45		(19		)	26		(71		)	(24		)	(69		)


(1)	Includes initial margin posted to a central clearing partner.

The Company had no credit exposure related to its derivative contracts, as of December 31, 2019 and 2018, as the net amount of collateral pledged to the Company from counterparties exceeded the fair value of the derivative contracts. The Company may be exposed to credit-related losses in the event of non-performance by counterparties to derivative financial instruments with a positive fair value. Generally, the credit exposure of the Company’s derivative contracts is limited to the fair value at the reporting date plus or minus any collateral posted or held by the Company.

Derivatives may be exchange-traded or they may be privately negotiated contracts, which are referred to as over-the-counter (“OTC”) derivatives. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties (“OTC cleared”) and others are bilateral contracts between two counterparties. The Company manages its credit risk related to OTC derivatives by entering into transactions with creditworthy counterparties, maintaining collateral arrangements and through

the use of master netting agreements that provide for a single net payment to be made by one counterparty to another at each due date and upon termination. The Company is only exposed to the default of the central clearing counterparties for OTC cleared derivatives, and these transactions require initial and daily variation margin collateral postings. Exchange-traded derivatives are settled on a daily basis, thereby reducing the credit risk exposure in the event of non-performance by counterparties to such financial instruments.

Equity (Components of Net Unrealized Appreciation Depreciation of Balances Carried at Fair Value) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Comprehensive Income Net Of Tax [Line Items]

Fixed maturity securities available-for-sale

$ 51,121

$ 39,992

Other invested assets

2,363

1,915

Deferred policy acquisition costs

(3,512)

(3,398)

$ (3,240)

$ (3,339)

Accumulated Other Comprehensive Income Loss Change In Component During Period

3,123

(1,712)

1,005

Change In Net Unrealized Appreciation Depreciation [Member]

Comprehensive Income Net Of Tax [Line Items]

Fixed maturity securities available-for-sale

3,258

(1,759)

988

Other invested assets

^[1]

(37)

Effect On Unrealized Appreciation Depreciation [Member]

Comprehensive Income Net Of Tax [Line Items]

Deferred policy acquisition costs

$ (98)

$ 27

$ (8)

[1]	Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Financial Condition and Net Income on a Statutory Basis - Significant Subsidiaries

12 Months Ended

Dec. 31, 2019

Statutory Basis [Abstract]

Financial Condition and Net Income on a Statutory Basis - Significant Subsidiaries

FINANCIAL CONDITION AND NET INCOME ON A STATUTORY BASIS – SIGNIFICANT SUBSIDIARIES

The domestic and foreign insurance subsidiaries of RGA prepare their statutory financial statements in conformity with statutory accounting practices prescribed or permitted by the applicable state insurance department or local regulatory authority, which may vary materially from statements prepared in accordance with GAAP. Prescribed statutory accounting practices in the U.S. include publications of the National Association of Insurance Commissioners (“NAIC”), as well as state laws, local regulations and general administrative rules. The differences between statutory financial statements and financial statements prepared in accordance with GAAP vary between jurisdictions. The principal differences between GAAP and NAIC are that statutory financial statements do not reflect deferred policy acquisition costs and limit deferred tax assets, life benefit reserves predominately use interest rate and mortality assumptions prescribed by the NAIC and local regulatory agencies, bonds are generally carried at amortized cost and reinsurance assets and liabilities are presented net of reinsurance.

Statutory net income, and capital and surplus of the Company’s insurance subsidiaries, determined in accordance with statutory accounting practices prescribed by the applicable state insurance department or local regulatory authority are as follows (dollars in millions):



	Statutory Capital & Surplus				Statutory Net Income (Loss)
	2019		2018		2019			2018			2017
RGA Americas Reinsurance Company, Ltd.	$	6,283	$	4,298	$	1,049		$	209		$	624
RGA Reinsurance (U.S.)	2,150		2,079		280			660			138
Reinsurance Company of Missouri	2,125		2,053		75			(25		)	(183		)
RGA Reinsurance Company (Barbados) Ltd.	1,553		1,170		234			49			309
RGA Atlantic Reinsurance Company Ltd.	1,511		1,083		243			256			214
RGA International Reinsurance Company dac	1,087		691		37			21			23
RGA Life Reinsurance Company of Canada	713		897		(225		)	(38		)	26
RGA Australia	447		433		15			(37		)	78
Other insurance subsidiaries	2,233		1,881		291			324			43

Each U.S. domestic insurance subsidiary’s state of domicile imposes minimum risk-based capital (“RBC”) requirements that were developed by the NAIC. The formulas for determining the amount of RBC specify various weighting factors that are applied to financial balances or various levels of activity based on the perceived degree of risk. Regulatory compliance is determined by a ratio of total adjusted capital, as defined by the NAIC, to authorized control level RBC, as defined by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. Each of RGA’s U.S. domestic insurance subsidiaries exceeded the minimum RBC requirements for all periods presented herein. These requirements do not represent a significant constraint for the payment of dividends by RGA’s U.S. domestic insurance companies.

The licensing orders of the Company’s special purpose companies stipulate a minimum amount of capital required based on the purpose of the entity and the underlying business. These companies are subject to enhanced oversight by the regulator which includes filing detailed plans of operations before commencing operations or making material changes to existing agreements or entering into new agreements. Each of the Company’s Special Purpose Life Reinsurance Captives (“SPLRC”) exceeded the minimum capital requirements for all periods presented herein.

The Company’s foreign insurance subsidiaries prepare financial statements in accordance with local regulatory requirements. The regulatory authorities in these foreign jurisdictions establish some form of minimum regulatory capital and surplus requirements. All of the Company’s foreign insurance subsidiaries have regulatory capital and surplus that exceed the local minimum requirements. These requirements do not represent a significant constraint for the payment of dividends by the Company’s foreign insurance companies.

The state of domicile of certain of the Company’s SPLRCs follow prescribed accounting practices differing from NAIC statutory accounting practices (“NAIC SAP”) applicable to their statutory financial statements. Specifically, these prescribed practices require that surplus note interest accrued but not approved for payment be reported as a direct reduction of surplus and an addition to the surplus note balance. Under NAIC SAP, surplus note interest is not to be reported until approved for payment and is reported as a reduction of net investment income in the Summary of Operations. In addition, these prescribed practices allow the SPLRC to reflect letters of credit issued for its benefit as an admitted asset and a direct credit to unassigned surplus. Under NAIC SAP, letters of credit issued on behalf of the reporting company are not reported on the balance sheet.

A reconciliation of the Company’s surplus between NAIC SAP and practices prescribed by the state of domicile is shown below (dollars in millions):



	December 31,
	2019			2018
Prescribed practice – surplus note	$	652		$	624
Prescribed practice – letters of credit	(576		)	(976		)
Surplus (deficit) – NAIC SAP	$	76		$	(352	)

Reinsurance Company of Missouri (“RCM”), RGA Reinsurance and Chesterfield Reinsurance Company (“Chesterfield Re”) are subject to Missouri statutory provisions that restrict the payment of dividends. They may not pay dividends in any 12-month period in excess of the greater of the prior year’s statutory net gain from operations or 10% of statutory capital and surplus at the preceding year-end, without regulatory approval. Aurora National Life Assurance Company (“Aurora National”) is subject to California statutory provisions that are identical to those imposed by Missouri regarding the ability of Aurora National to pay dividends to RGA Reinsurance. The applicable statutory provisions only permit an insurer to pay a shareholder dividend from unassigned surplus. As of January 1, 2020, RGA Reinsurance could pay maximum dividends, without prior approval, of approximately $315 million. Any dividends paid by RGA Reinsurance would be paid to RCM, its parent company, which in turn has restrictions related to its ability to pay dividends to RGA.

Chesterfield Re would pay dividends to its immediate parent Chesterfield Financial Holdings LLC, (“Chesterfield Financial”), which would in turn pay dividends to RCM, subject to the terms of the indenture for the embedded value securitization transaction, in which Chesterfield Financial cannot declare or pay any dividends so long as any private placement notes are outstanding. The Missouri Department of Commerce and Insurance allows RCM to pay a dividend to RGA to the extent RCM received the dividend from its subsidiaries, without limitation related to the level of unassigned surplus. Dividend payments from other subsidiaries are subject to regulations in the jurisdiction of domicile, which are generally based on their earnings and/or capital level.

Dividend payments from non-U.S. operations are subject to similar restrictions established by local regulators. The non-U.S. regulatory regimes also commonly limit the dividend payments to the parent to a portion of the prior year’s statutory income, as determined by the local accounting principles. The regulators of the Company’s non-U.S. operations may also limit or prohibit profit repatriations or other transfers of funds to the U.S. if such transfers are deemed to be detrimental to the solvency or financial strength of the non-U.S. operations, or for other reasons. Most of the non-U.S. operating subsidiaries are second tier subsidiaries that are owned by various non-U.S. holding companies. The capital and rating considerations applicable to the first tier subsidiaries may also impact the dividend flow to RGA.

There are no regulatory restrictions that limit the payment of dividends by RGA, except those generally applicable to Missouri corporations. Dividends are payable by Missouri corporations only under the circumstances specified in The General and Business Corporation Law of Missouri. RGA would not be permitted to pay common stock dividends if there is any accrued and unpaid interest on its subordinated debentures and its junior subordinated debentures. Furthermore, the ability of RGA to pay dividends is dependent on business conditions, income, cash requirements of the Company, receipt of dividends from its subsidiaries, financial covenant provisions and other relevant factors.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Fixed Maturity Securities [Abstract]
Available-for-sale at fair value (amortized cost of $46,753 and $38,882)	$ 51,121	$ 39,992
Equity Securities, FV-NI	320	82
Mortgage loans on real estate (net of allowances of $12 and $11)	5,706	4,966
Policy loans	1,319	1,345
Funds withheld at interest	5,662	5,761
Short-term investments	64	143
Other invested assets	2,363	1,915
Total investments	66,555	54,204
Cash and cash equivalents	1,449	1,890
Accrued investment income	493	428
Premiums receivable and other reinsurance balances	2,940	3,018
Reinsurance ceded receivables	904	758
Deferred policy acquisition costs	3,512	3,398
Other assets	878	839
Total assets	76,731	64,535
Liabilities and Stockholders’ Equity
Future policy benefits	28,672	25,285
Interest-sensitive contract liabilities	22,711	18,005
Other policy claims and benefits	5,711	5,643
Other reinsurance balances	557	487
Deferred income taxes	2,712	1,799
Other liabilities	1,188	1,396
Long-term debt	2,981	2,788
Collateral finance and securitization notes	598	682
Total liabilities	65,130	56,085
Commitments and contingent liabilities (See Note 12)
Stockholders Equity:
Preferred stock (par value $.01 per share; 10,000,000 shares authorized; no shares issued or outstanding)	0	0
Common stock (par value $.01 per share; 140,000,000 shares authorized; shares issued: 79,137,758 at December 31, 2019 and 2018)	1	1
Additional paid-in-capital	1,937	1,899
Retained earnings	7,952	7,285
Treasury stock, at cost - 16,481,656 and 16,323,390 shares	(1,426)	(1,371)
Accumulated other comprehensive income	3,137	636
Total stockholders’ equity	11,601	8,450
Total liabilities and stockholders’ equity	$ 76,731	$ 64,535

Supplemental Schedule of Reinsurance (Tables)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]

Supplemental Schedule Of Reinsurance Premiums For Insurance Companies [Table Text Block]

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE IV—REINSURANCE

(in millions)



	As of or for the Year ended December 31,
	Gross Amount		Ceded to Other Companies		Assumed from Other Companies		Net Amounts		Percentage of Amount Assumed to Net
2019
Life insurance in force	$	1,316	$	192,864	$	3,480,206	$	3,288,658	105.8	%
Premiums
U.S. and Latin America:
Traditional	$	29.4	$	590.8	$	6,291.0	5,729.6		109.8	%
Financial Solutions	1.8		—		37.0		38.8		95.4
Canada:
Traditional	—		53.8		1,119.5		1,065.7		105.0
Financial Solutions	—		—		88.9		88.9		100.0
Europe, Middle East and Africa:
Traditional	44.7		52.7		1,449.4		1,441.4		100.6
Financial Solutions	0.2		148.4		366.4		218.2		167.9
Asia Pacific:
Traditional	—		82.9		2,651.5		2,568.6		103.2
Financial Solutions	—		—		146.0		146.0		100.0
Total	$	76.1	$	928.6	$	12,149.7	$	11,297.2	107.5
2018
Life insurance in force	$	1,363	$	186,172	$	3,329,181	$	3,144,372	105.9	%
Premiums
U.S. and Latin America:
Traditional	$	31.6	$	593.7	$	6,095.4	$	5,533.3	110.2	%
Financial Solutions	4.7		—		22.5		27.2		82.7
Canada:
Traditional	—		46.9		1,070.9		1,024.0		104.6
Financial Solutions	—		—		43.4		43.4		100.0
Europe, Middle East and Africa:
Traditional	26.0		25.9		1,423.1		1,423.2		100.0
Financial Solutions	0.2		143.7		338.8		195.3		173.5
Asia Pacific:
Traditional	—		49.8		2,346.2		2,296.4		102.2
Financial Solutions	—		—		0.9		0.9		100.0
Corporate and Other	—		—		0.1		0.1		100.0
Total	$	62.5	$	860.0	$	11,341.3	$	10,543.8	107.6
2017
Life insurance in force	$	1,462	$	205,529	$	3,297,275	$	3,093,208	106.6	%
Premiums
U.S. and Latin America:
Traditional	$	30.5	$	610.4	$	5,936.2	$	5,356.3	110.8	%
Financial Solutions	4.3		—		19.4		23.7		81.9
Canada:
Traditional	—		38.1		940.1		902.0		104.2
Financial Solutions	—		—		38.2		38.2		100.0
Europe, Middle East and Africa:
Traditional	26.6		34.9		1,310.0		1,301.7		100.6
Financial Solutions	0.2		125.0		288.5		163.7		176.2
Asia Pacific:
Traditional	—		54.5		2,107.5		2,053.0		102.7
Financial Solutions	—		—		2.4		2.4		100.0
Corporate and Other	—		—		0.1		0.1		100.0
Total	$	61.6	$	862.9	$	10,642.4	$	9,841.1	108.1

Employee Benefit Plans (Schedule of Changes in Projected Benefit Obligations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Defined Benefit Plan, Benefit Obligation, Beginning Balance	$ 179
Defined Benefit Plan, Benefit Obligation, Ending Balance	220	$ 179
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Defined Benefit Plan, Benefit Obligation, Beginning Balance	179	172
Defined Benefit Plan, Service Cost	13	13	$ 11
Defined Benefit Plan, Interest Cost	7	5	5
Defined Benefit Plan, Contributions by Plan Participants (Deprecated 2017-01-31)	0	0
Defined Benefit Plan, Actuarial Net (Gains) Losses	28	(1)
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(8)	(8)
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Benefit Obligation	1	(2)
Defined Benefit Plan, Benefit Obligation, Ending Balance	220	179	172
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Defined Benefit Plan, Benefit Obligation, Beginning Balance	67	70
Defined Benefit Plan, Service Cost	3	3	2
Defined Benefit Plan, Interest Cost	3	2	2
Defined Benefit Plan, Contributions by Plan Participants (Deprecated 2017-01-31)	0	0
Defined Benefit Plan, Actuarial Net (Gains) Losses	15	(7)
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(1)	(1)
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Benefit Obligation	0	0
Defined Benefit Plan, Benefit Obligation, Ending Balance	$ 87	$ 67	$ 70

Investments (Investment Related Gains (Losses) Net) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Abstract]
Other than Temporary Impairment Losses, Investments	$ (31)	$ (28)	$ (43)
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Portion in Other Comprehensive Loss, before Tax, Including Portion Attributable to Noncontrolling Interest	0	0	0
Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments	(50)	(159)	(37)
Gain (Loss) on Sale of Equity Investments	16	(20)	(5)
Available-for-sale Securities, Gross Realized Gains	151	65	111
Other Impairment Losses And Change In Mortgage Loan Provision	(12)	(12)	(10)
Derivatives And Other Investments Net	17	(16)	152
Realized Investment Gains (Losses)	$ 91	$ (170)	$ 168

Commitments Contingencies and Guarantees (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Maximum Capital Lease Obligations As Offset Against Industrial Bonds	$ 150

Investments (Amortized Cost and Fair Value of Fixed Maturity Holdings by Industry Type) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Corporate Secturities by Investment Sector And Credit Rating [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 29,205	$ 24,006
Available-for-sale Securities	$ 31,393	$ 23,982
Percentage Of Total Available For Sales Securities	100.00%	100.00%
Financial Services Sector [Member]
Corporate Secturities by Investment Sector And Credit Rating [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 10,896	$ 8,794
Available-for-sale Securities	$ 11,653	$ 8,731
Percentage Of Total Available For Sales Securities	37.20%	36.30%
Commercial and Industrial Sector [Member]
Corporate Secturities by Investment Sector And Credit Rating [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 14,692	$ 12,337
Available-for-sale Securities	$ 15,803	$ 12,342
Percentage Of Total Available For Sales Securities	50.30%	51.60%
Utility Industry [Member]
Corporate Secturities by Investment Sector And Credit Rating [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 3,617	$ 2,875
Available-for-sale Securities	$ 3,937	$ 2,909
Percentage Of Total Available For Sales Securities	12.50%	12.10%

Deferred Policy Acquisition Costs

12 Months Ended

Dec. 31, 2019

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

DEFERRED POLICY ACQUISITION COSTS

The following reflects the amounts of policy acquisition costs deferred and amortized (dollars in millions):



Years ended December 31,	2019			2018			2017
Balance, beginning of year	$	3,398		$	3,240		$	3,339
Capitalization	526			608			348
Amortization (including interest)	(315		)	(438		)	(433		)
Change in value of embedded derivatives	(15		)	14			(70		)
Attributed to unrealized investment gains (losses)	(97		)	27			(8		)
Foreign currency translation	15			(53		)	64
Balance, end of year	$	3,512		$	3,398		$	3,240

Some reinsurance agreements involve reimbursing the ceding company for allowances and commissions in excess of first-year premiums. These amounts represent acquisition costs and are capitalized to the extent deemed recoverable from the future premiums and amortized against future profits of the business. This type of agreement presents a risk to the extent that the business lapses faster than originally anticipated, resulting in future profits being insufficient to recover the Company’s investment.

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Document Period End Date	Dec. 31, 2019
Property, Plant and Equipment, Useful Life	40 years
Other Asset Impairment Charges	$ 4.0	$ 5.0	$ 25.0
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	99.0	97.0
Property, Plant and Equipment, Gross	244.0	249.0
Depreciation	18.0	18.0	17.0
Goodwill	7.0	7.0
Present Value of Future Insurance Profits, Net	5.0
Amortization of Value of Business Acquired (VOBA)	0.7	0.4	0.3
Values Of Business Acquired Distribution Agreements And Customer Relationships	33.0	41.0
Accumulated Amortization Of Values Of Business Acquired Distribution Agreements And Customer Relationships	88.0	80.0
Amortization Of Values Of Business Acquired Distribution Agreements And Customer Relationships	8.0	8.0	9.0
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	8.0
Finite-Lived Intangible Assets, Amortization Expense, Year Two	7.0
Finite-Lived Intangible Assets, Amortization Expense, Year Three	6.0
Finite-Lived Intangible Assets, Amortization Expense, Year Four	6.0
Finite-Lived Intangible Assets, Amortization Expense, Year Five	6.0
Capitalized Computer Software, Net	151.0	150.0
Capitalized Computer Software, Amortization	$ 31.0	27.0	$ 36.0
Value of Customer Relationships Acquired [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Value of Distribution Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Accumulated Amortization Of Values Of Business Acquired Distribution Agreements And Customer Relationships	$ 8.0	$ 4.0
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	4.0
Finite-Lived Intangible Assets, Amortization Expense, Year Two	4.0
Finite-Lived Intangible Assets, Amortization Expense, Year Three	4.0
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4.0
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 4.0
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Collateral Obtained Percent Of Fair Value Reverse Repurchase Agreements	100.00%
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Collateral Obtained Percent Of Fair Value Reverse Repurchase Agreements	105.00%

Equity

12 Months Ended

Dec. 31, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Comprehensive Income

EQUITY

Common stock

The changes in number of common stock shares, issued, held in treasury and outstanding are as follows for the periods indicated:



	Issued	Held In Treasury		Outstanding
Balance, December 31, 2016	79,137,758	14,835,256		64,302,502
Common Stock acquired	—	208,680		(208,680	)
Stock-based compensation ⁽¹⁾	—	(358,273	)	358,273
Balance, December 31, 2017	79,137,758	14,685,663		64,452,095
Common Stock acquired	—	1,932,055		(1,932,055	)
Stock-based compensation ⁽¹⁾	—	(294,328	)	294,328
Balance, December 31, 2018	79,137,758	16,323,390		62,814,368
Common Stock acquired	—	546,614		(546,614	)
Stock-based compensation ⁽¹⁾	—	(388,348	)	388,348
Balance, December 31, 2019	79,137,758	16,481,656		62,656,102


(1)	Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.

Common stock held in treasury

Common stock held in treasury is accounted for at average cost. Gains resulting from the reissuance of “Common stock held in treasury” are credited to “Additional paid-in capital.” Losses resulting from the reissuance of “Common stock held in treasury” are charged first to “Additional paid-in capital” to the extent the Company has previously recorded gains on treasury share transactions, then to “Retained earnings.”

On January 24, 2019, RGA’s board of directors authorized a share repurchase program for up to $400 million of RGA’s outstanding common stock. The authorization was effective immediately and does not have an expiration date. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2017. The following table summarizes the Company’s current share repurchase program activity for the year ended 2019 (dollar amounts in millions, except for the number of shares and per share amounts):



Year of Repurchase	Shares Repurchased	Amount Paid		Average Per Share
2019	546,614	$	80	$	146.00

The timing and amount of share repurchases are determined by management based upon market conditions and other considerations. Factors could affecting the timing and amount of any future repurchases under the share repurchase authorization, include increased capital needs of the Company due to changes in regulatory capital requirements, opportunities for growth and acquisitions, and the effect of adverse market conditions on the segments.

Accumulated other comprehensive income (loss)

The following table presents the components of the Company’s other comprehensive income (loss) for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):

For the year ended December 31, 2019:



	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	113		$	(10	)	$	103
Foreign currency swap	(33		)	7			(26		)
Net foreign currency translation adjustments	80			(3		)	77
Unrealized gains on investments:⁽¹⁾
Unrealized net holding gains arising during the year	3,208			(698		)	2,510
Less: Reclassification adjustment for net gains realized in net income	84			(17		)	67
Net unrealized gains	3,124			(681		)	2,443
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1		)	—			(1		)
Net gain (loss) arising during the period	(23		)	5			(18		)
Unrealized pension and postretirement benefits, net	(24		)	5			(19		)
Other comprehensive income (loss)	$	3,180		$	(679	)	$	2,501

For the year ended December 31, 2018:



	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	(148	)	$	(1	)	$	(149	)
Foreign currency swap	87			(18		)	69
Net foreign currency translation adjustments	(61		)	(19		)	(80		)
Unrealized gains on investments:⁽¹⁾
Unrealized net holding gains arising during the year	(1,834		)	394			(1,440		)
Less: Reclassification adjustment for net gains realized in net income	(122		)	26			(96		)
Net unrealized gains	(1,712		)	368			(1,344		)
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1		)	—			(1		)
Net gain arising during the period	1			—			1
Unrealized pension and postretirement benefits, net	—			—			—
Other comprehensive income (loss)	$	(1,773	)	$	349		$	(1,424	)

For the year ended December 31, 2017:



	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	75		$	25		$	100
Foreign currency swap	(48		)	17			(31		)
Net foreign currency translation adjustments	27			42			69
Unrealized gains on investments:⁽¹⁾
Unrealized net holding gains arising during the year	1,030			(314		)	716
Less: Reclassification adjustment for net gains realized in net income	25			(7		)	18
Net unrealized gains	1,005			(307		)	698
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	12			(4		)	8
Net gain arising during the period	(11		)	4			(7		)
Unrealized pension and postretirement benefits, net	1			—			1
Other comprehensive income (loss)	$	1,033		$	(265	)	$	768


(1)	Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in millions):



For the years ended December 31,	2019			2018			2017
Change in net unrealized appreciation (depreciation) on:
Fixed maturity securities available-for-sale	$	3,258		$	(1,759	)	$	988
Other investments⁽¹⁾	(37		)	20			25
Effect on unrealized appreciation on:
Deferred policy acquisition costs	(98		)	27			(8		)
Net unrealized appreciation (depreciation)	$	3,123		$	(1,712	)	$	1,005


(1)	Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

The balance of and changes in each component of AOCI were as follows (dollars in millions):



	Accumulated Currency Translation Adjustments			Unrealized Appreciation (Depreciation) of Investments ⁽¹⁾			Pension and Postretirement Benefits			Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2016	$	(172	)	$	1,355		$	(44	)	$	1,139
OCI before reclassifications	27			1,039			(4		)	1,062
Amounts reclassified from AOCI	—			(34		)	5			(29		)
Deferred income tax benefit (expense)	42			(307		)	—			(265		)
Adoption of new accounting standard	17			148			(8		)	157
Balance, December 31, 2017	(86		)	2,201			(51		)	2,064
OCI before reclassifications	(60		)	(1,861		)	(5		)	(1,926		)
Amounts reclassified from AOCI	—			148			5			153
Deferred income tax benefit (expense)	(19		)	368			—			349
Adoption of new accounting standard	(4		)	—			—			(4		)
Balance, December 31, 2018	(169		)	856			(51		)	636
OCI before reclassifications	80			3,306			(28		)	3,358
Amounts reclassified from AOCI	—			(182		)	4			(178		)
Deferred income tax benefit (expense)	(3		)	(681		)	5			(679		)
Balance, December 31, 2019	$	(92	)	$	3,299		$	(70	)	$	3,137


(1)	Includes cash flow hedges of $(26), $9 and $3 as of December 31, 2019, 2018 and 2017, respectively. See Note 5 for additional information on cash flow hedges.

The following table presents the amounts of AOCI reclassifications for the years ended December 31, 2019 and 2018 (dollars in millions):



	Amount Reclassified from AOCI
Details about AOCI Components	2019			2018			Affected Line Item in Statement of Income
Net unrealized investment gains (losses):
Net unrealized gains and losses on available-for-sale securities	$	84		$	(122	)	Investment related gains (losses), net
Cash flow hedges - Interest rate	1			—			(1)
Cash flow hedges - Currency/Interest rate	—			—			(1)
Cash flow hedges - Forward bond purchase commitments	—			—			(1)
Deferred policy acquisition costs attributed to unrealized gains and losses	97			(27		)	(2)
Total	182			(149		)
Provision for income taxes	(38		)	31
Net unrealized gains (losses), net of tax	$	144		$	(118	)

Amortization of defined benefit plan items:
Prior service cost (credit)	$	1		$	1		(3)
Actuarial gains/(losses)	(5		)	(6		)	(3)
Total	(4		)	(5		)
Provision for income taxes	1			1
Amortization of defined benefit plans, net of tax	$	(3	)	$	(4	)

Total reclassifications for the period	$	141		$	(122	)


(1)	See Note 5 for information on cash flow hedges.


(2)	See Note 8 for information on deferred policy acquisition costs.

(3)

See Note 10 for information on employee benefit plans.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 2.60	$ 2.20	$ 1.82

Income Tax (Provision for Income Tax Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current Federal Tax Expense (Benefit)	$ (9)	$ 78	$ 131
Current Federal Tax Expense (Benefit) Relating To US Tax Reform	0	(68)	0
Current Foreign Tax Expense (Benefit)	60	43	37
Current Income Tax Expense (Benefit)	51	53	168
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred Federal Income Tax Expense (Benefit)	182	63	160
Deferred Federal Income Tax Expense (Benefit) Related To US Tax Reform	0	6	(1,034)
Deferred Foreign Income Tax Expense (Benefit)	29	8	27
Deferred income taxes	211	77	(847)
Income Tax Expense (Benefit)	$ 262	$ 130	$ (679)

CONSOLIDATED STATEMENTS OF CASH FLOWS CONSOLIDATED STATEMENTS OF CASH FLOWS PARENTHETICAL - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Cash Acquired from Acquisition	$ 27	$ 5	$ 0

Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation Allowances and Reserves, Balance, Beginning Balance	$ 181	$ 227	$ 133
Valuation Allowances and Reserves, Charged to Cost and Expense	56	(34)	89
Valuation Allowances and Reserves, Charged to Other Accounts	1	(12)	(11)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	0	0	6
Valuation Allowances and Reserves, Balance, Ending Balance	236	181	227
SEC Schedule, 12-09, Allowance, Loan and Lease Loss, Real Estate [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation Allowances and Reserves, Balance, Beginning Balance	11	9	8
Valuation Allowances and Reserves, Charged to Cost and Expense	1	2	1
Valuation Allowances and Reserves, Charged to Other Accounts	0	0	0
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	0	0	0
Valuation Allowances and Reserves, Balance, Ending Balance	$ 12	$ 11	$ 9

Valuation and Qualifying Accounts (Tables)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation And Qualifying Accounts [Table Text Block]

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE V—VALUATION AND QUALIFYING ACCOUNTS

(in millions)



			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts			Deductions		Balance at End of Period
2019
Valuation allowance for deferred income taxes	$	181	$	56		$	(1	)	$	—	$	236
Valuation allowance for mortgage loans	11		1			—			—		12
2018
Valuation allowance for deferred income taxes	$	227	$	(34	)	$	(12	)	$	—	$	181
Valuation allowance for mortgage loans	9		2			—			—		11
2017
Valuation allowance for deferred income taxes	$	133	$	89		$	11		$	6	$	227
Valuation allowance for mortgage loans	8		1			—			—		9

Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 3,785	$ 3,628	$ 3,467	$ 3,420	$ 3,279	$ 3,227	$ 3,196	$ 3,174	$ 14,300	$ 12,876	$ 12,516
Total benefits and expenses	3,477	3,281	3,207	3,203	3,141	2,904	2,949	3,036	13,168	12,030	11,373
Income before income taxes	308	347	260	217	138	323	247	138	1,132	846	1,143
Net Income (Loss) Attributable to Parent	$ 235	$ 263	$ 202	$ 170	$ 110	$ 301	$ 205	$ 100	$ 870	$ 716	$ 1,822
Basic earnings per share:
Earnings Per Share, Basic (in dollars per share)	$ 3.75	$ 4.19	$ 3.23	$ 2.70	$ 1.75	$ 4.76	$ 3.19	$ 1.55	$ 13.88	$ 11.25	$ 28.28
Earnings Per Share, Diluted (in dollars per share)	$ 3.68	$ 4.12	$ 3.18	$ 2.65	$ 1.72	$ 4.68	$ 3.13	$ 1.52	$ 13.62	$ 11.00	$ 27.71

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Derivative Instruments (Exposure from Credit Derivatives by Rating of the Underlying Credits) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 5

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 1,306

$ 1,338

Derivative Average Remaining Maturity

^[1],[3]

3 years 8 months 12 days

4 years 8 months 12 days

Standard Poors AAA To A Ratings [Member]

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 2

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 142

$ 152

Derivative Average Remaining Maturity

^[1],[3]

1 year 8 months 12 days

2 years 2 months 12 days

Standard & Poor's, BBB Rating [Member]

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 3

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 1,164

$ 1,171

Derivative Average Remaining Maturity

^[1],[3]

4 years

5 years 1 month 6 days

Standard & Poor's, BB+ Rating [Member]

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 0

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 0

$ 15

Derivative Average Remaining Maturity

^[1],[3]

0 years

8 months 12 days

Single Name Credit Default Swaps [Member] | Standard Poors AAA To A Ratings [Member]

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 2

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 142

$ 152

Derivative Average Remaining Maturity

^[1],[3]

1 year 8 months 12 days

2 years 2 months 12 days

Single Name Credit Default Swaps [Member] | Standard & Poor's, BBB Rating [Member]

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 3

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 291

$ 354

Derivative Average Remaining Maturity

^[1],[3]

1 year 10 months 24 days

2 years 2 months 12 days

Single Name Credit Default Swaps [Member] | Standard & Poor's, BB+ Rating [Member]

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 0

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 0

$ 15

Derivative Average Remaining Maturity

^[1],[3]

0 years

8 months 12 days

Credit Default Swaps Referencing Indices [Member] | Standard & Poor's, BBB Rating [Member]

Credit Derivatives [Line Items]

Credit Risk Derivatives, at Fair Value, Net

^[1]

$ 0

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 873

$ 817

Derivative Average Remaining Maturity

^[1],[3]

4 years 8 months 12 days

6 years 4 months 24 days

[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.

Financial Condition and Net Income on a Statutory Basis - Significant Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2019

Statutory Basis [Abstract]

Statutory Accounting Practices Disclosure [Table Text Block]



	Statutory Capital & Surplus				Statutory Net Income (Loss)
	2019		2018		2019			2018			2017
RGA Americas Reinsurance Company, Ltd.	$	6,283	$	4,298	$	1,049		$	209		$	624
RGA Reinsurance (U.S.)	2,150		2,079		280			660			138
Reinsurance Company of Missouri	2,125		2,053		75			(25		)	(183		)
RGA Reinsurance Company (Barbados) Ltd.	1,553		1,170		234			49			309
RGA Atlantic Reinsurance Company Ltd.	1,511		1,083		243			256			214
RGA International Reinsurance Company dac	1,087		691		37			21			23
RGA Life Reinsurance Company of Canada	713		897		(225		)	(38		)	26
RGA Australia	447		433		15			(37		)	78
Other insurance subsidiaries	2,233		1,881		291			324			43

Reconciliation Of NAIC SAP And Prescribed Practice [Text Block]

A reconciliation of the Company’s surplus between NAIC SAP and practices prescribed by the state of domicile is shown below (dollars in millions):



	December 31,
	2019			2018
Prescribed practice – surplus note	$	652		$	624
Prescribed practice – letters of credit	(576		)	(976		)
Surplus (deficit) – NAIC SAP	$	76		$	(352	)

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

Financial Condition and Net Income on a Statutory Basis - Significant Subsidiaries (Statutory Accounting Practices Disclosure) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
RGA Reinsurance [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 2,150	$ 2,079
Statutory Accounting Practices, Statutory Net Income Amount	280	660	$ 138
RCM [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	2,125	2,053
Statutory Accounting Practices, Statutory Net Income Amount	75	(25)	(183)
RGA Canada [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	713	897
Statutory Accounting Practices, Statutory Net Income Amount	(225)	(38)	26
RGA Barbados [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,553	1,170
Statutory Accounting Practices, Statutory Net Income Amount	234	49	309
RGA Australia [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	447	433
Statutory Accounting Practices, Statutory Net Income Amount	15	(37)	78
RGA Atlantic [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,511	1,083
Statutory Accounting Practices, Statutory Net Income Amount	243	256	214
RGA International Reinsurance Company dac [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,087	691
Statutory Accounting Practices, Statutory Net Income Amount	37	21	23
RGA Americas [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	6,283	4,298
Statutory Accounting Practices, Statutory Net Income Amount	1,049	209	624
Other Reinsurance Subsidiaries [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	2,233	1,881
Statutory Accounting Practices, Statutory Net Income Amount	$ 291	$ 324	$ 43

Equity Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Equity Based Compensation

The Company adopted the RGA Flexible Stock Plan (the “Plan”) in February 1993, as amended, and the Flexible Stock Plan for Directors (the “Directors Plan”) in January 1997, as amended, (collectively, the “Stock Plans”). The Stock Plans provide for the award of benefits (collectively “Benefits”) of various types, including stock options, stock appreciation rights (“SARs”), restricted stock, performance shares, cash awards, and other stock-based awards, to key employees, officers, directors and others performing significant services for the benefit of the Company or its subsidiaries. As of December 31, 2019, shares authorized for the granting of Benefits under the Plan and the Directors Plan totaled 14,960,077 and 412,500 respectively. The Company uses treasury shares

or shares made available from authorized but unissued shares to support the future exercise of options or settlement of awards granted under its stock plans.

Equity-based compensation expense of $39 million, $30 million, and $22 million related to grants or awards under the Stock Plans was recognized in 2019, 2018 and 2017, respectively. Equity-based compensation expense is principally related to the issuance of performance contingent restricted units, stock appreciation rights and restricted stock.

In general, options granted under the Plan become exercisable over vesting periods ranging from one to five years. Options are generally granted with an exercise price equal to the stock’s fair value at the date of grant and expire 10 years after the date of grant. There are no options outstanding under the Directors Plan during the periods presented. Information with respect to grants under the Stock Plans follows.

Stock Options

The following table presents a summary of stock option activity:



	Number of Options		Weighted-Average Exercise Price		Aggregate Intrinsic Value (in millions)
Outstanding December 31, 2018	2,170,443		$	82.65
Granted	192,845		$	145.25
Exercised	(322,673	)	$	56.52
Forfeited	(8,818	)	$	108.47
Outstanding December 31, 2019	2,031,797		$	92.63	$	143.1
Options exercisable	1,514,959		$	83.58	$	120.4

The intrinsic value of options exercised was $31 million, $26 million, and $42 million for 2019, 2018 and 2017, respectively.



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding as of 12/31/2019	Weighted-Average Remaining Contractual Life (years)	Weighted- Average Exercise Price		Number Exercisable as of 12/31/2019	Weighted-Average Exercise Price
$0.00 - $49.99	23,764	0.1	$	47.10	23,764	$	47.10
$50.00 - $59.99	634,157	2.5	$	58.28	634,157	$	58.28
$60.00 - $69.99	839	3.2	$	60.24	839	$	60.24
$70.00 - $79.99	149,248	4.2	$	78.48	149,248	$	78.48
$90.00 +	1,223,789	6.8	$	113.05	706,951	$	108.61
Totals	2,031,797	5.2	$	92.63	1,514,959	$	83.58

The following table presents the weighted average assumptions used to determine the fair value of stock options issued:



For the years ended December 31,	2019			2018			2017
Dividend yield	1.65		%	1.33		%	1.26		%
Risk-free rate of return	2.67		%	2.79		%	2.32		%
Expected volatility	18.2		%	21.4		%	22.8		%
Expected life (years)	6.0			7.0			7.0
Weighted average exercise price of stock options granted	$	145.25		$	150.87		$	129.72
Weighted average fair value of stock options granted	$	26.59		$	36.31		$	31.57

The Black-Scholes model was used to determine the fair value recognized in the financial statements of stock options that have been granted. The Company used daily historical volatility when calculating stock option values. The benchmark rate is based on observed interest rates for instruments with maturities similar to the expected term of the stock options. Dividend yield is determined based on historical dividend distributions compared to the price of the underlying common stock as of the valuation date and held constant over the life of the stock options. The Company estimated expected life using the historical average years to exercise or cancellation.

Performance Shares

Performance shares, also referred to as performance contingent units (“PCUs”), are units that, if they vest, are multiplied by a performance factor to produce a number of final PCUs that are paid in the Company’s common stock. Each PCU represents the right to receive up to two shares of Company common stock, depending on the results of certain performance measures over a three-year period. The compensation expense related to the PCUs is recognized ratably over the requisite performance period. Performance shares are accounted for as equity awards, but are not credited with dividend-equivalents for actual dividends paid on the Company’s common stock during the performance period.

Restricted Stock Units

In general, restricted stock units (“RSUs”) become payable at the end of a three- or ten-year vesting period. Each RSU, if they vest, represents the right to receive one share of Company common stock. RSUs awarded under the plan generally have no strike price and are included in the Company’s shares outstanding.

The following table presents a summary of Performance Share and Restricted Stock Unit activity:



	Performance Contingent Units		Restricted Stock Units
Outstanding December 31, 2018	395,871		66,999
Granted	120,403		23,322
Change in units based on performance factor	64,773		—
Paid	(248,789	)	(26,442	)
Forfeited	(6,407	)	(1,685	)
Outstanding December 31, 2019	325,851		62,194

During 2019, the Company issued 120,403 PCUs to key employees at a weighted average fair value per unit of $145.25. In May 2019 and May 2018, RGA’s board of directors approved a 1.35 and 1.07 share payout for each PCU granted in 2017 and 2016, resulting in the issuance of 248,789 and 170,080 shares of common stock from treasury, respectively.

As of December 31, 2019, the total compensation cost of non-vested awards not yet recognized in the financial statements was $16.6 million. It is estimated that these costs will vest over a weighted average period of 0.9 years.

The majority of the awards granted each year under the board-approved incentive compensation package and Directors Plan are made in the first quarter of each year.

Deferred Policy Acquisition Costs Deferred Policy Acquisition Costs (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019
Deferred Policy Acquisition Costs Disclosures [Abstract]
Insurance Contract, Acquisition Cost [Text Block]	Some reinsurance agreements involve reimbursing the ceding company for allowances and commissions in excess of first-year premiums. These amounts represent acquisition costs and are capitalized to the extent deemed recoverable from the future premiums and amortized against future profits of the business.

Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 76,731	$ 64,535
Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	44,470	39,106
Canada Segment Reporting Information [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,425	4,355
EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	10,534	8,381
Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	9,357	6,862
Corporate and Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	7,945	5,831
Life Insurance Product Line [Member] \| Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	19,353	19,236
Life Insurance Product Line [Member] \| Canada Segment Reporting Information [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,361	4,201
Life Insurance Product Line [Member] \| EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,032	3,643
Life Insurance Product Line [Member] \| Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	6,800	5,681
Insurance, Other [Member] \| Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	25,117	19,870
Insurance, Other [Member] \| Canada Segment Reporting Information [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	64	154
Insurance, Other [Member] \| EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	6,502	4,738
Insurance, Other [Member] \| Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 2,557	$ 1,181

Collateral Finance and Securitization Notes Collateral Finance and Securitization Notes (List of Collateral Finance and Securitization Notes) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Collateralized Financings	$ 598	$ 682
Debt Issuance Cost	(22)	(19)
Timerberlake Financial [Member]
Collateralized Financings	313	368
Reinsurance Group Of America Barbados [Member]
Collateralized Financings	127	132
Chesterfield Financial Holdings LLC [Member]
Collateralized Financings	161	186
Secured Debt [Member]
Debt Issuance Cost	$ (3)	$ (4)

Commitments Contingencies and Guarantees (Commitments to Fund Investments) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Limited Partner [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	$ 685	$ 524
Commercial Loan [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	243	23
Bank Loan Obligations [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	181	137
Equity Release Mortgages [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	$ 87	$ 265

Supplementary Insurance Information (Tables)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]

Supplementary Insurance Information For Insurance Companies Disclosure [Table Text Block]

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE III—SUPPLEMENTARY INSURANCE INFORMATION

(in millions)



	As of December 31,
	Deferred Policy Acquisition Costs		Future Policy Benefits and Interest-Sensitive Contract Liabilities		Other Policy Claims and Benefits Payable
2019
U.S. and Latin America:
Traditional	$	1,806	$	11,969	$	2,143
Financial Solutions	313		23,728		18
Canada:
Traditional	200		3,260		219
Financial Solutions	—		23		42
Europe, Middle East and Africa:
Traditional	250		1,197		1,109
Financial Solutions	—		5,703		51
Asia Pacific:
Traditional	927		2,837		2,121
Financial Solutions	16		2,215		2
Corporate and Other	—		451		6
Total	$	3,512	$	51,383	$	5,711

2018
U.S. and Latin America:
Traditional	$	1,825	$	11,728	$	1,948
Financial Solutions	420		19,421		21
Canada:
Traditional	193		2,930		182
Financial Solutions	—		26		34
Europe, Middle East and Africa:
Traditional	239		1,110		978
Financial Solutions	—		4,541		35
Asia Pacific:
Traditional	702		1,738		2,436
Financial Solutions	18		1,043		2
Corporate and Other	—		754		6
Total	$	3,397	$	43,291	$	5,642

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE III—SUPPLEMENTARY INSURANCE INFORMATION (continued)

(in millions)



	Year ended December 31,
	Premium Income		Net Investment Income		Policyholder Benefits and Interest Credited		Amortization of DAC		Other Expenses ⁽¹⁾
2019
U.S. and Latin America:
Traditional	$	5,729	$	769	$	5,339	$	199	$	697
Financial Solutions	39		931		737		31		113
Canada:
Traditional	1,066		205		857		12		249
Financial Solutions	89		3		80		—		4
Europe, Middle East and Africa:
Traditional	1,442		73		1,205		36		199
Financial Solutions	218		195		175		—		52
Asia Pacific:
Traditional	2,568		104		2,317		36		223
Financial Solutions	146		46		162		16		27
Corporate and Other	—		194		22		—		380
Total	$	11,297	$	2,520	$	10,894	$	330	$	1,944
2018
U.S. and Latin America:
Traditional	$	5,534	$	730	$	5,131	$	180	$	698
Financial Solutions	27		706		442		109		106
Canada:
Traditional	1,024		199		848		13		251
Financial Solutions	43		2		37		—		2
Europe, Middle East and Africa:
Traditional	1,424		66		1,233		27		179
Financial Solutions	195		134		116		—		37
Asia Pacific:
Traditional	2,296		96		1,885		92		262
Financial Solutions	1		40		40		2		19
Corporate and Other	—		166		12		—		308
Total	$	10,544	$	2,139	$	9,744	$	423	$	1,862
2017
U.S. and Latin America:
Traditional	$	5,356	$	728	$	4,842	$	192	$	693
Financial Solutions	24		779		458		185		105
Canada:
Traditional	902		189		758		12		213
Financial Solutions	38		5		30		—		3
Europe, Middle East and Africa:
Traditional	1,301		56		1,096		21		175
Financial Solutions	164		123		154		—		34
Asia Pacific:
Traditional	2,053		92		1,636		91		335
Financial Solutions	3		34		40		1		19
Corporate and Other	—		149		6		—		274
Total	$	9,841	$	2,155	$	9,020	$	502	$	1,851

(1)

Policy Claims and Benefits

12 Months Ended

Dec. 31, 2019

Insurance [Abstract]

Short-Duration Insurance and Deposit Contracts [Text Block]

Liabilities for Unpaid Claims and Claim Expense

The Company uses several actuarial methods to compute incurred-but-not reported liabilities. These methods use historical claim reporting patterns to develop a triangle of reported claim amounts. The claim triangle is then used to develop the ultimate claims amount and the incurred-but-not reported liabilities. Expected claim methods use exposure data such as premiums to develop the ultimate claim amount. The final method blends the estimates from the development and the expected claim methods. There were no significant changes in methodologies during 2019.

The following tables provide information on incurred and paid claims development, net of retrocession, for short-duration reinsurance contracts for the Company’s U.S. and Latin America and Asia Pacific Traditional segments, which primarily relate to group life and health (including disability) business. The short-duration business for the Company’s other segments is immaterial. Liabilities for claims and claims adjustment expenses, net of reinsurance equals total incurred claims less cumulative paid claims plus outstanding liabilities prior to 2012.

The Company provides reinsurance on large quota share transactions. It is common industry practice for cedants to provide loss information on a bulk basis without comprehensive claim details. Additionally, a claim under aggregate stop loss coverage may be the result of thousands of claims, but the Company only pays the excess amount. Therefore, it is impractical to provide meaningful claim count detail by accident year in the tables shown below.



U.S. and Latin America																	As of
(dollars in millions)																	December 31, 2019
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance ⁽¹⁾																	Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident Year	For the Years Ended December 31,
	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	323	$	309	$	297	$	298	$	299	$	298	$	297	$	297	$	—
2013			349		333		339		337		336		336		337		—
2014					408		411		396		397		396		399		—
2015							460		461		465		462		462		—
2016									501		500		501		497		1
2017											485		514		509		6
2018													538		538		28
2019															491		213
													Total		$	3,530



Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance ⁽¹⁾
Accident Year	For the Years Ended December 31,
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	109	$	222	$	244	$	252	$	258	$	264	$	268	$	272
2013			114		249		277		286		292		297		302
2014					129		305		337		349		356		364
2015							146		361		407		422		431
2016									185		393		437		451
2017											190		403		448
2018													183		415
2019															180
													Total		$	2,863
					All outstanding claims prior to 2012, net of reinsurance										152
			Liabilities for claims and claim adjustment expense, net of reinsurance												$	819


(1)	2012-2018 Unaudited.



Asia Pacific																	As of
(dollars in millions)																	December 31, 2019
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance ⁽¹⁾																	Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident Year	For the Years Ended December 31,
	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	207	$	278	$	282	$	285	$	293	$	303	$	308	$	313	$	7
2013			292		312		303		300		313		327		329		11
2014					276		299		264		270		283		285		13
2015							277		256		249		266		266		21
2016									227		205		212		219		24
2017											211		214		214		34
2018													253		270		76
2019															253		141
													Total		$	2,149



Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance ⁽¹⁾
Accident Year	For the Years Ended December 31,
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	49	$	135	$	185	$	222	$	243	$	259	$	274	$	283
2013			50		144		209		235		260		282		294
2014					34		135		177		205		228		241
2015							49		118		167		201		221
2016									38		97		133		152
2017											35		87		115
2018													32		106
2019															38
													Total		$	1,450
					All outstanding claims prior to 2012, net of reinsurance										98
			Liabilities for claims and claim adjustment expense, net of reinsurance												$	797


(1)	2012-2018 Unaudited.

The following is unaudited supplementary information about average historical claims duration as of December 31, 2019:



Average Annual Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7		8
U.S. and Latin America	35.0	%	42.2	%	8.6	%	2.9	%	1.9	%	1.7	%	1.4	%	1.3	%
Asia Pacific	15.2	%	28.0	%	16.3	%	10.4	%	7.4	%	5.5	%	4.2	%	3.0	%

Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid Claims and Claims Adjustment Expenses

The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expense in the consolidated balance sheet as of December 31, 2019 is as follows (dollars in millions):



	2019
Liabilities for claims and claim adjustment expense, net of reinsurance:
U.S. and Latin America	$	819
Asia Pacific	797
Liabilities for claims and claim adjustment expense, net of reinsurance	1,616
Adjustments to reconcile to total policy claims and future policy benefits:
Reinsurance recoverable	14
Effect of discounting	(134		)
Unallocated claims adjustment expense	6
Total adjustments	(114		)
Other short-duration contracts:
Canada	131
Europe, Middle East and Africa	438
Other	224
Liability for unpaid claims and claim adjustment expense - short-duration	2,295
Liability for unpaid claims and claim adjustment expense - long-duration	4,491
Total liability for unpaid claims and claim adjustment expense (included in future policy benefits and other policy-related balances)	$	6,786

Rollforward of Claims and Claim Adjustment Expenses

The liability for unpaid claims is reported in future policy benefits and other policy-related balances within the Company’s consolidated balance sheet. Activity associated with unpaid claims is summarized below (dollars in millions):



	2019			2018			2017
Balance at beginning of year	$	6,585		$	5,896		$	5,181
Less: reinsurance recoverable	(433		)	(456		)	(395		)
Net balance at beginning of year	6,152			5,440			4,786
Incurred:
Current year	10,307			10,049			8,912
Prior years	154			131			14
Total incurred	10,461			10,180			8,926
Payments:
Current year	(5,140		)	(4,602		)	(4,514		)
Prior years	(5,305		)	(4,692		)	(4,004		)
Total payments	(10,445		)	(9,294		)	(8,518		)
Other changes:
Interest accretion	33			25			19
Foreign exchange adjustments	21			(199		)	227
Total other changes	54			(174		)	246

Net balance at end of year	6,222			6,152			5,440
Plus: reinsurance recoverable	564			433			456
Balance at end of year	$	6,786		$	6,585		$	5,896

Incurred claims related to prior years reflected in the table above, resulted in part from developed claims for prior years being different than were anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year liability for unpaid claims.

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Change In Benefit Obligation [Line Items]
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation	$ 212	$ 174
Defined Contribution Plan, Cost	16	15	$ 14
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Change In Benefit Obligation [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	17	14	19
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year	18
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Change In Benefit Obligation [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	6	$ 6	$ 5
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year	$ 2
Debt Securities [Member]
Defined Benefit Plan Change In Benefit Obligation [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities	40.00%
Equity Securities [Member]
Defined Benefit Plan Change In Benefit Obligation [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities	60.00%

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Net premiums	$ 11,297.2	$ 10,543.8	$ 9,841.1
Investment income, net of related expenses	2,520.0	2,139.0	2,155.0
Investment related gains (losses), net:
Other-than-temporary impairments on fixed maturity securities	(31.0)	(28.0)	(43.0)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income	0.0	0.0	0.0
Other investment related gains (losses), net	122.0	(142.0)	211.0
Total investment related gains (losses), net	91.0	(170.0)	168.0
Other revenues	392.0	363.0	352.0
Total revenues	14,300.0	12,876.0	12,516.0
Benefits and expenses
Claims and other policy benefits	10,197.0	9,319.0	8,519.0
Interest credited	697.0	425.0	502.0
Policy acquisition costs and other insurance expenses	1,204.0	1,323.0	1,467.0
Other operating expenses	868.0	786.0	710.0
Interest expense	173.0	147.0	146.0
Collateral finance and securitization expense	29.0	30.0	29.0
Total benefits and expenses	13,168.0	12,030.0	11,373.0
Income before income taxes	1,132.0	846.0	1,143.0
Provision for income taxes	262.0	130.0	(679.0)
Net income	$ 870.0	$ 716.0	$ 1,822.0
Earnings per share
Basic earnings per share (in dollars per share)	$ 13.88	$ 11.25	$ 28.28
Diluted earnings per share (in dollars per share)	$ 13.62	$ 11.00	$ 27.71

Commitments Contingencies and Guarantees (Guarantees Issued) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Insurance Treaty Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	$ 1,821	$ 1,392
Insurance Treaty Guarantee Net Of Assets Held In Trust [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	891	1,291
Guarantee Of Borrowed Securities [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	275	270
Product Financing Arrangement [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	$ 42	$ 61

Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018 are summarized below (dollars in millions):



December 31, 2019:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	31,393	$	—	$	29,207	$	2,186
Canadian government	4,612		—		3,908		704
RMBS	2,398		—		2,349		49
ABS	2,978		—		2,865		113
CMBS	1,899		—		1,853		46
U.S. government	2,152		2,030		106		16
State and political subdivisions	1,164		—		1,155		9
Other foreign government	4,525		—		4,509		16
Total fixed maturity securities – available-for-sale	51,121		2,030		45,952		3,139
Equity securities	320		243		—		77
Funds withheld at interest – embedded derivatives	121		—		—		121
Cash equivalents	274		274		—		—
Short-term investments	32		4		26		2
Other invested assets:
Derivatives	117		—		117		—
FVO contractholder-directed unit-linked investments	260		207		53		—
Total other invested assets	377		207		170		—
Total	$	52,245	$	2,758	$	46,148	$	3,339
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	930	$	—	$	—	$	930
Other liabilities:
Derivatives	53		—		53		—
Total	$	983	$	—	$	53	$	930



December 31, 2018:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	23,982	$	—	$	22,651	$	1,331
Canadian government	3,892		—		3,364		528
RMBS	1,869		—		1,862		7
ABS	2,150		—		2,054		96
CMBS	1,419		—		1,419		—
U.S. government	2,186		2,068		100		18
State and political subdivisions	752		—		742		10
Other foreign government	3,742		—		3,737		5
Total fixed maturity securities – available-for-sale	39,992		2,068		35,929		1,995
Equity securities	82		49		—		33
Funds withheld at interest – embedded derivatives	110		—		—		110
Cash equivalents	485		473		12		—
Short-term investments	106		5		99		2
Other invested assets:
Derivatives	180		—		180		—
FVO contractholder-directed unit-linked investments	198		197		1		—
Total other invested assets	378		197		181		—
Other assets - longevity swaps	48		—		—		48
Total	$	41,201	$	2,792	$	36,221	$	2,188
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	945	$	—	$	—	$	945
Other liabilities:
Derivatives	27		—		27		—
Total	$	972	$	—	$	27	$	945

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]



	Estimated Fair Value				Valuation	Unobservable	Range (Weighted Average)
Assets:	2019		2018		Technique	Input	2019		2018
Corporate	$	1,070	$	643	Market comparable securities	Liquidity premium	0-2% (1%)		0-5% (1%)
						EBITDA Multiple	5.2x-7.1x (6.7x)		5.9x-7.5x (6.5x)
ABS	101		78		Market comparable securities	Liquidity premium	0-4% (1%)		0-1% (1%)
U.S. government	16		18		Market comparable securities	Liquidity premium	0-1% (1%)		0-1% (1%)
Other foreign government	16		5		Market comparable securities	Liquidity premium	0-1% (1%)		1	%
Equity securities	32		25		Market comparable securities	Liquidity premium	4	%	4	%
						EBITDA Multiple	6.9x-9.3x (7.8x)		6.9x-12.3x (7.9x)
Funds withheld at interest- embedded derivatives	121		110		Total return swap	Mortality	0-100% (2%)		0-100% (2%)
						Lapse	0-35% (13%)		0-35% (10%)
						Withdrawal	0-5% (3%)		0-5% (3%)
						CVA	0-5% (1%)		0-5% (1%)
						Crediting rate	2-4% (2%)		2-4% (2%)
Longevity swaps	—		48		Discounted cash flow	Mortality	—		0-100% (2%)
						Mortality improvement	—		(10%)-10% (3%)
Liabilities:
Interest-sensitive contract liabilities- embedded derivatives- indexed annuities	768		777		Discounted cash flow	Mortality	0-100% (2%)		0-100% (2%)
						Lapse	0-35% (13%)		0-35% (10%)
						Withdrawal	0-5% (3%)		0-5% (3%)
						Option budget projection	2-4% (2%)		2-4% (2%)
Interest-sensitive contract liabilities- embedded derivatives- variable annuities	163		168		Discounted cash flow	Mortality	0-100% (1%)		0-100% (1%)
						Lapse	0-25% (5%)		0-25% (5%)
						Withdrawal	0-7% (5%)		0-7% (5%)
						CVA	0-5% (1%)		0-5% (1%)
						Long-term volatility	0-27% (12%)		0-27% (13%)
Mortality swaps	—		—		Discounted cash flow	Mortality	—		0-100% (1%)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]



For the year ended December 31, 2019:	Fixed maturity securities - available-for-sale																	Funds withheld at interest-embedded derivatives		Other assets - longevity and mortality swaps			Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt		Structured securities			U.S. and local govt			Equity securities			Short-term investments			Funds withheld at interest-embedded derivatives		Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,331		$	533	$	103		$	28		$	33		$	2		$	110	$	48		$	(945	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	1			15		—			—			—			—			—		—			—
Investment related gains (losses), net	(11		)	—		—			—			12			—			11		—			5
Interest credited	—			—		—			—			—			—			—		—			(57		)
Included in other comprehensive income	48			162		4			1			—			(1		)	—		(2		)	—
Other revenue	—			—		—			—			—			—			—		12			—
Purchases⁽¹⁾	1,050			10		85			—			33			30			—		—			(17		)
Sales⁽¹⁾	(81		)	—		(1		)	—			(1		)	(1		)	—		—			—
Settlements⁽¹⁾	(194		)	—		(63		)	(4		)	—			(1		)	—		(58		)	84
Transfers into Level 3	43			—		86			—			—			—			—		—			—
Transfers out of Level 3	(1		)	—		(6		)	—			—			(27		)	—		—			—
Fair value, end of period	$	2,186		$	720	$	208		$	25		$	77		$	2		$	121	$	—		$	(930	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	2		$	15	$	—		$	—		$	—		$	—		$	—	$	—		$	—
Investment related gains (losses), net	(11		)	—		—			—			12			—			11		—			(3		)
Other revenues	—			—		—			—			—			—			—		—			—
Interest credited	—			—		—			—			—			—			—		—			(140		)



For the year ended December 31, 2018:	Fixed maturity securities - available-for-sale																		Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps			Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt			Structured securities			U.S. and local govt			Equity securities			Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,337		$	599		$	235		$	64		$	—		$	3		$	122		$	39		$	(1,014	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1		)	14			—			—			—			—			—			—			—
Investment related gains (losses), net	(5		)	—			2			—			(13		)	—			(12		)	—			(15		)
Interest credited	—			—			—			—			—			—			—			—			27
Included in other comprehensive income	(33		)	(80		)	(3		)	—			—			—			—			(2		)	—
Other revenue	—			—			—			—			—			—			—			9			—
Purchases⁽¹⁾	509			—			94			—			14			3			—			—			(19		)
Sales⁽¹⁾	(106		)	—			(7		)	—			(7		)	—			—			—			—
Settlements⁽¹⁾	(273		)	—			(62		)	(5		)	—			(1		)	—			2			76
Transfers into Level 3	10			—			78			10			39			—			—			—			—
Transfers out of Level 3	(107		)	—			(234		)	(41		)	—			(3		)	—			—			—
Fair value, end of period	$	1,331		$	533		$	103		$	28		$	33		$	2		$	110		$	48		$	(945	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1	)	$	14		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Investment related gains (losses), net	(6		)	—			—			—			(16		)	—			(12		)	—			(22		)
Other revenues	—			—			—			—			—			—			—			9			—
Interest credited	—			—			—			—			—			—			—			—			(49		)



For the year ended December 31, 2017:	Fixed maturity securities - available-for-sale															Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps		Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt			Structured securities			U.S. and local govt			Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,272		$	489		$	401		$	66		$	3		$	(23	)	$	25	$	(990	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1		)	13			2			—			—			—			—		—
Investment related gains (losses), net	5			—			—			—			—			145			—		32
Interest credited	—			—			—			—			—			—			—		(80		)
Included in other comprehensive income	(7		)	105			9			—			—			—			4		—
Other revenue	—			—			—			—			—			—			8		—
Purchases⁽¹⁾	409			—			123			—			4			—			—		(55		)
Sales⁽¹⁾	(89		)	—			(32		)	—			—			—			—		—
Settlements⁽¹⁾	(286		)	(1		)	(112		)	(2		)	—			—			2		79
Transfers into Level 3	47			—			96			7			—			—			—		—
Transfers out of Level 3	(13		)	(7		)	(252		)	(7		)	(4		)	—			—		—
Fair value, end of period	$	1,337		$	599		$	235		$	64		$	3		$	122		$	39	$	(1,014	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1	)	$	13		$	—		$	—		$	—		$	—		$	—	$	—
Investment related gains (losses), net	(5		)	—			—			—			—			145			—		23
Other revenues	—			—			—			—			—			—			8		—
Interest credited	—			—			—			—			—			—			—		(159		)

(1)

The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]



For the year ended December 31, 2019:	Fixed maturity securities - available-for-sale																	Funds withheld at interest-embedded derivatives		Other assets - longevity and mortality swaps			Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt		Structured securities			U.S. and local govt			Equity securities			Short-term investments			Funds withheld at interest-embedded derivatives		Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,331		$	533	$	103		$	28		$	33		$	2		$	110	$	48		$	(945	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	1			15		—			—			—			—			—		—			—
Investment related gains (losses), net	(11		)	—		—			—			12			—			11		—			5
Interest credited	—			—		—			—			—			—			—		—			(57		)
Included in other comprehensive income	48			162		4			1			—			(1		)	—		(2		)	—
Other revenue	—			—		—			—			—			—			—		12			—
Purchases⁽¹⁾	1,050			10		85			—			33			30			—		—			(17		)
Sales⁽¹⁾	(81		)	—		(1		)	—			(1		)	(1		)	—		—			—
Settlements⁽¹⁾	(194		)	—		(63		)	(4		)	—			(1		)	—		(58		)	84
Transfers into Level 3	43			—		86			—			—			—			—		—			—
Transfers out of Level 3	(1		)	—		(6		)	—			—			(27		)	—		—			—
Fair value, end of period	$	2,186		$	720	$	208		$	25		$	77		$	2		$	121	$	—		$	(930	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	2		$	15	$	—		$	—		$	—		$	—		$	—	$	—		$	—
Investment related gains (losses), net	(11		)	—		—			—			12			—			11		—			(3		)
Other revenues	—			—		—			—			—			—			—		—			—
Interest credited	—			—		—			—			—			—			—		—			(140		)



For the year ended December 31, 2018:	Fixed maturity securities - available-for-sale																		Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps			Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt			Structured securities			U.S. and local govt			Equity securities			Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,337		$	599		$	235		$	64		$	—		$	3		$	122		$	39		$	(1,014	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1		)	14			—			—			—			—			—			—			—
Investment related gains (losses), net	(5		)	—			2			—			(13		)	—			(12		)	—			(15		)
Interest credited	—			—			—			—			—			—			—			—			27
Included in other comprehensive income	(33		)	(80		)	(3		)	—			—			—			—			(2		)	—
Other revenue	—			—			—			—			—			—			—			9			—
Purchases⁽¹⁾	509			—			94			—			14			3			—			—			(19		)
Sales⁽¹⁾	(106		)	—			(7		)	—			(7		)	—			—			—			—
Settlements⁽¹⁾	(273		)	—			(62		)	(5		)	—			(1		)	—			2			76
Transfers into Level 3	10			—			78			10			39			—			—			—			—
Transfers out of Level 3	(107		)	—			(234		)	(41		)	—			(3		)	—			—			—
Fair value, end of period	$	1,331		$	533		$	103		$	28		$	33		$	2		$	110		$	48		$	(945	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1	)	$	14		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Investment related gains (losses), net	(6		)	—			—			—			(16		)	—			(12		)	—			(22		)
Other revenues	—			—			—			—			—			—			—			9			—
Interest credited	—			—			—			—			—			—			—			—			(49		)



For the year ended December 31, 2017:	Fixed maturity securities - available-for-sale															Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps		Interest-sensitive contract liabilities embedded derivatives
	Corporate			Foreign govt			Structured securities			U.S. and local govt			Short-term investments			Funds withheld at interest-embedded derivatives			Other assets - longevity and mortality swaps
Fair value, beginning of period	$	1,272		$	489		$	401		$	66		$	3		$	(23	)	$	25	$	(990	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1		)	13			2			—			—			—			—		—
Investment related gains (losses), net	5			—			—			—			—			145			—		32
Interest credited	—			—			—			—			—			—			—		(80		)
Included in other comprehensive income	(7		)	105			9			—			—			—			4		—
Other revenue	—			—			—			—			—			—			8		—
Purchases⁽¹⁾	409			—			123			—			4			—			—		(55		)
Sales⁽¹⁾	(89		)	—			(32		)	—			—			—			—		—
Settlements⁽¹⁾	(286		)	(1		)	(112		)	(2		)	—			—			2		79
Transfers into Level 3	47			—			96			7			—			—			—		—
Transfers out of Level 3	(13		)	(7		)	(252		)	(7		)	(4		)	—			—		—
Fair value, end of period	$	1,337		$	599		$	235		$	64		$	3		$	122		$	39	$	(1,014	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1	)	$	13		$	—		$	—		$	—		$	—		$	—	$	—
Investment related gains (losses), net	(5		)	—			—			—			—			145			—		23
Other revenues	—			—			—			—			—			—			8		—
Interest credited	—			—			—			—			—			—			—		(159		)

(1)

Fair Value Assets Measured On Nonrecurring Basis [Text Block]

Nonrecurring Fair Value Measurements



	Carrying Value After Measurement				Net Investment Gains (Losses)
	At December 31,				Years ended December 31,
(dollars in millions)	2019		2018		2019			2018
Limited partnership interests and real estate joint ventures⁽¹⁾	$	18	$	5	$	(11	)	$	(3	)

(1)

Financial Instruments Carrying Amounts And Estimated Fair Value [Table Text Block]



			Estimated Fair		Fair Value Measurement Using:
December 31, 2019:	Carrying Value ⁽¹⁾		Value		Level 1		Level 2		Level 3		NAV
Assets:
Mortgage loans on real estate	$	5,706	$	5,935	$	—	$	—	$	5,935	$	—
Policy loans	1,319		1,319		—		1,319		—		—
Funds withheld at interest	5,526		5,870		—		—		5,870		—
Cash and cash equivalents	1,175		1,175		1,175		—		—		—
Short-term investments	32		32		32		—		—		—
Other invested assets	1,259		1,278		5		68		803		402
Accrued investment income	493		493		—		493		—		—
Liabilities:
Interest-sensitive contract liabilities	$	19,163	$	21,542	$	—	$	—	$	21,542	$	—
Long-term debt	2,981		3,179		—		—		3,179		—
Collateral finance and securitization notes	598		551		—		—		551		—

December 31, 2018:
Assets:
Mortgage loans on real estate	$	4,966	$	4,917	$	—	$	—	$	4,917	$	—
Policy loans	1,345		1,345		—		1,345		—		—
Funds withheld at interest	5,655		5,803		—		—		5,803		—
Cash and cash equivalents	1,405		1,405		1,405		—		—		—
Short-term investments	37		37		37		—		—		—
Other invested assets	946		941		5		83		477		376
Accrued investment income	428		428		—		428		—		—
Liabilities:
Interest-sensitive contract liabilities	$	14,547	$	14,611	$	—	$	—	$	14,611	$	—
Long-term debt	2,788		2,752		—		—		2,752		—
Collateral finance and securitization notes	682		627		—		—		627		—

(1)

Carrying values presented herein may differ from those in the Company’s consolidated balance sheets because certain items within the respective financial statement captions may be measured at fair value on a recurring basis.

Income Tax (Total Income Taxes Provided) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Effects Allocated Directly to Equity [Abstract]
Income Tax Expense (Benefit)	$ 262	$ 130	$ (679)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	681	(368)	307
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	3	19	(42)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax	(5)	0	0
Income Tax Expense (Benefit), Intraperiod Tax Allocation	$ 941	$ (219)	$ (414)

Condensed Financial Information of The Registrant

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of The Registrant

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT

December 31,

(in millions)



	2019			2018			2017
CONDENSED BALANCE SHEETS
Assets:
Fixed maturity securities available-for-sale, at fair value	$	525		$	595
Short-term and other investments	19			43
Cash and cash equivalents	10			21
Investment in subsidiaries	14,486			11,033
Loans to subsidiaries	1,010			1,010
Other assets	270			240
Total assets	$	16,320		$	12,942
Liabilities and stockholders’ equity:
Long-term debt - unaffiliated⁽¹⁾	$	2,974		$	2,778
Long-term debt - affiliated⁽²⁾	500			500
Other liabilities	1,244			1,213
Stockholders’ equity	11,602			8,451
Total liabilities and stockholders’ equity	$	16,320		$	12,942
CONDENSED STATEMENTS OF INCOME
Interest / dividend income⁽³⁾	$	308		$	576		$	131
Investment related gains (losses), net	4			(5		)	(5		)
Operating expenses	(55		)	(36		)	(21		)
Interest expense	(206		)	(181		)	(177		)
Income (loss) before income tax and undistributed earnings of subsidiaries	51			354			(72		)
Income tax expense (benefit)	(33		)	(37		)	66
Net income (loss) before undistributed earnings of subsidiaries	84			391			(138		)
Equity in undistributed earnings of subsidiaries	786			325			1,960
Net income	870			716			1,822
Other comprehensive income (loss)	(33		)	21			(8		)
Total comprehensive income	$	837		$	737		$	1,814


(1)	Long-term debt - unaffiliated consists of the following:



	2019			2018
$400 million 6.45% Senior Notes due 2019	$	—		$	400
$400 million 5.00% Senior Notes due 2021	400			399
$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			—
$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			399
Subtotal	2,996			2,797
Unamortized debt issue costs	(22		)	(19		)
Total	$	2,974		$	2,778


(2)	Long-term debt—affiliated in 2019 and 2018 consists of $500 million of subordinated debt issued to various operating subsidiaries.


(3)	Interest/dividend income includes $175 million and $450 million of cash dividends received from consolidated subsidiaries in 2019 and 2018, respectively.

REINSURANCE GROUP OF AMERICA, INCORPORATED

SCHEDULE II—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT (continued)

December 31,

(in millions)



	2019			2018			2017
CONDENSED STATEMENTS OF CASH FLOWS
Operating activities:
Net income	$	870		$	716		$	1,822
Equity in earnings of subsidiaries	(786		)	(325		)	(1,960		)
Other, net	72			37			58
Net cash (used in) provided by operating activities	156			428			(80		)
Investing activities:
Sales of fixed maturity securities available-for-sale	576			482			515
Purchases of fixed maturity securities available-for-sale	(494		)	(383		)	(75		)
Repayments/issuances of loans to subsidiaries	—			—			40
Change in short-term investments	—			—			—
Change in other invested assets	—			—			125
Capital contributions to subsidiaries	(96		)	(82		)	(63		)
Net cash (used in) provided by investing activities	(14		)	17			542
Financing activities:
Dividends to stockholders	(163		)	(140		)	(117		)
Purchases of treasury stock	(101		)	(300		)	(44		)
Exercise of stock options, net	6			3			7
Net change in cash collateral for loaned securities	(92		)	(2		)	(37		)
Principal payments on debt	(397		)	—			(300		)
Proceeds from unaffiliated long-term debt issuance	599			—			—
Debt issuance costs	(5		)	—			—
Net cash (used in) provided by financing activities	(153		)	(439		)	(491		)
Net change in cash and cash equivalents	(11		)	6			(29		)
Cash and cash equivalents at beginning of year	21			15			44
Cash and cash equivalents at end of year	$	10		$	21		$	15
Supplementary information:
Cash paid for interest	$	192		$	176		$	186
Cash paid for income taxes, net of refunds	$	9		$	93		$	8

Deferred Policy Acquisition Costs (Movement Analysis Of Deferred Policy Acquisition Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost	$ 3,398	$ 3,240	$ 3,339
Deferred Policy Acquisition Cost, Capitalization	526	608	348
Deferred Policy Acquisition Costs, Amortization Expense	(315)	(438)	(433)
Deferred Policy Acquisition Cost, Amortization Expense, Other	(15)	14	(70)
Deferred Policy Acquisition Cost, Amortization Expense, Unrealized Investment Gains (Losses)	(97)	27	(8)
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment	15	(53)	64
Deferred Policy Acquisition Cost	$ 3,512	$ 3,398	$ 3,240

- Definition

Amount of amortization expense (reversal of expense) for deferred policy acquisition costs.

+ References + Details

Investments Investments (Narrative) (Details)
$ in Millions

12 Months Ended

Dec. 31, 2019

USD ($)

position

Dec. 31, 2018

USD ($)

position

Dec. 31, 2017

USD ($)

Investment Narrative [Line Items]

Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash

$ 1

$ 29

Net Amount Assets Liabilities From Repurchase Reverse Repurchase Agreements

Available-for-sale Securities, Amortized Cost Basis

29,205

24,006

Available-for-sale Securities

$ 31,393

$ 23,982

Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | position

1,072

3,109

Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments

$ 50

$ 159

$ 37

Securities for Reverse Repurchase Agreements

$ 356

$ 554

Percentage Of Total Gross Unrealized Losses

100.00%

Funds withheld at interest

$ 5,662

$ 5,761

Funds Held Under Reinsurance Agreements Asset Specific Client

$ 3,500

Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total

100.00%

Non-Income Producing Securities [Member]

Investment Narrative [Line Items]

Available-for-sale Securities, Amortized Cost Basis

$ 47

$ 41

Available-for-sale Securities

Canadian Province Of Quebec Securities [Member]

Investment Narrative [Line Items]

Available-for-sale Securities, Amortized Cost Basis

1,014

914

Available-for-sale Securities

1,379

1,188

Collateral Received Fixed Maturity Securities [Member]

Investment Narrative [Line Items]

Available-for-sale Securities

727

617

Reported Value Measurement [Member]

Investment Narrative [Line Items]

Securities Borrowed

339

336

Funds withheld at interest

^[1]

$ 5,526

$ 5,655

CALIFORNIA

Investment Narrative [Line Items]

Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total

15.50%

TEXAS

Investment Narrative [Line Items]

Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total

12.50%

GEORGIA

Investment Narrative [Line Items]

Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total

8.40%

CANADA

Investment Narrative [Line Items]

Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total

3.20%

UNITED KINGDOM

Investment Narrative [Line Items]

Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total

1.00%

[1]	Carrying values presented herein may differ from those in the Company’s consolidated balance sheets because certain items within the respective financial statement captions may be measured at fair value on a recurring basis.

Employee Benefit Plans (Components of Net Periodic Benefit Cost Recognized in Other Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	$ (23)	$ 1	$ (11)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	1	1	(12)
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Service Cost	13	13	11
Defined Benefit Plan, Interest Cost	7	5	5
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(7)	(8)	(6)
Defined Benefit Plan, Amortization of Gain (Loss)	4	4	4
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	0	0	(5)
Defined Benefit Plan, Net Periodic Benefit Cost, Total	17	14	19
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	14	13	2
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	(4)	(4)	(4)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	0	0	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	0	0	(5)
Other Comprehensive Income Defined Benefit Plan Net Foreign Exchange Translations And Other Adjustments	0	0	1
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax	10	9	(6)
Defined Benefit Plan Net Periodic Benefit Cost And Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease	27	23	13
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Service Cost	3	3	2
Defined Benefit Plan, Interest Cost	3	2	2
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	0	0	0
Defined Benefit Plan, Amortization of Gain (Loss)	1	2	2
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(1)	(1)	(1)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost, Total	6	6	5
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	14	(7)	6
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	(1)	(2)	(2)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	1	1	1
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	0	0	0
Other Comprehensive Income Defined Benefit Plan Net Foreign Exchange Translations And Other Adjustments	0	0	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax	14	(8)	5
Defined Benefit Plan Net Periodic Benefit Cost And Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease	$ 20	$ (2)	$ 10

Deferred Policy Acquisition Costs (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs [Table Text Block]

The following reflects the amounts of policy acquisition costs deferred and amortized (dollars in millions):



Years ended December 31,	2019			2018			2017
Balance, beginning of year	$	3,398		$	3,240		$	3,339
Capitalization	526			608			348
Amortization (including interest)	(315		)	(438		)	(433		)
Change in value of embedded derivatives	(15		)	14			(70		)
Attributed to unrealized investment gains (losses)	(97		)	27			(8		)
Foreign currency translation	15			(53		)	64
Balance, end of year	$	3,512		$	3,398		$	3,240

Investments (Mortgage Loans by Maturity Date) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 5,727	$ 4,983
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%	100.00%
Mortgage Loans On Real Estate Due One Year Through Five Years [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 1,841	$ 1,426
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	32.20%	28.60%
Mortgage Loans On Real Estate Due After Five Years [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 2,944	$ 2,686
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	51.40%	53.90%
Mortgage Loans On Real Estate Due After Ten Years [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 942	$ 871
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	16.40%	17.50%

Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	$ 51,121	$ 39,992
Equity Method Investments, Fair Value Disclosure	320	82
Fair Value Measured On Recurring Basis Funds Held Under Reinsurance Agreements Asset Embedded Derivatives	121	110
Cash and Cash Equivalents, Fair Value Disclosure	274	485
Fair Value Measured On Recurring Basis Short Term Investments	32	106
Derivative Assets (Liabilities), at Fair Value, Net	117	180
Investments, Fair Value Disclosure	377	378
Other Assets, Fair Value Disclosure		48
Assets, Fair Value Disclosure	52,245	41,201
Liabilities, Fair Value Disclosure [Abstract]
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	930	945
Other Liabilities, Fair Value Disclosure	53	27
Financial Liabilities Fair Value Disclosure	983	972
Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,030	2,068
Equity Method Investments, Fair Value Disclosure	243	49
Fair Value Measured On Recurring Basis Funds Held Under Reinsurance Agreements Asset Embedded Derivatives	0	0
Cash and Cash Equivalents, Fair Value Disclosure	274	473
Fair Value Measured On Recurring Basis Short Term Investments	4	5
Derivative Assets (Liabilities), at Fair Value, Net	0	0
Investments, Fair Value Disclosure	207	197
Other Assets, Fair Value Disclosure		0
Assets, Fair Value Disclosure	2,758	2,792
Liabilities, Fair Value Disclosure [Abstract]
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	0	0
Other Liabilities, Fair Value Disclosure	0
Financial Liabilities Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	45,952	35,929
Equity Method Investments, Fair Value Disclosure	0	0
Fair Value Measured On Recurring Basis Funds Held Under Reinsurance Agreements Asset Embedded Derivatives	0	0
Cash and Cash Equivalents, Fair Value Disclosure	0	12
Fair Value Measured On Recurring Basis Short Term Investments	26	99
Derivative Assets (Liabilities), at Fair Value, Net	117	180
Investments, Fair Value Disclosure	170	181
Other Assets, Fair Value Disclosure		0
Assets, Fair Value Disclosure	46,148	36,221
Liabilities, Fair Value Disclosure [Abstract]
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	0	0
Other Liabilities, Fair Value Disclosure	53
Financial Liabilities Fair Value Disclosure	53	27
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	3,139	1,995
Equity Method Investments, Fair Value Disclosure	77	33
Fair Value Measured On Recurring Basis Funds Held Under Reinsurance Agreements Asset Embedded Derivatives	121	110
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Fair Value Measured On Recurring Basis Short Term Investments	2	2
Derivative Assets (Liabilities), at Fair Value, Net	0	0
Investments, Fair Value Disclosure	0	0
Other Assets, Fair Value Disclosure		48
Assets, Fair Value Disclosure	3,339	2,188
Liabilities, Fair Value Disclosure [Abstract]
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	930	945
Other Liabilities, Fair Value Disclosure	0
Financial Liabilities Fair Value Disclosure	930	945
Interest Rate Swap [Member] \| Fair Value, Inputs, Level 1 [Member]
Liabilities, Fair Value Disclosure [Abstract]
Other Liabilities, Fair Value Disclosure		0
Interest Rate Swap [Member] \| Fair Value, Inputs, Level 2 [Member]
Liabilities, Fair Value Disclosure [Abstract]
Other Liabilities, Fair Value Disclosure		27
Interest Rate Swap [Member] \| Fair Value, Inputs, Level 3 [Member]
Liabilities, Fair Value Disclosure [Abstract]
Other Liabilities, Fair Value Disclosure		0
Fair Value Option Contractholder Directed Unit Linked Investments [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	260	198
Fair Value Option Contractholder Directed Unit Linked Investments [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	207	197
Fair Value Option Contractholder Directed Unit Linked Investments [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	53	1
Fair Value Option Contractholder Directed Unit Linked Investments [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	0	0
Corporate Debt Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	31,393	23,982
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	29,207	22,651
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,186	1,331
Canadian Provincial Governments [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	4,612	3,892
Canadian Provincial Governments [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Canadian Provincial Governments [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	3,908	3,364
Canadian Provincial Governments [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	704	528
Residential Mortgage Backed Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,398	1,869
Residential Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Residential Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,349	1,862
Residential Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	49	7
Asset-backed Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,978	2,150
Assets, Fair Value Disclosure	101	78
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,865	2,054
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	113	96
Commercial Mortgage Backed Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	1,899	1,419
Commercial Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Commercial Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	1,853	1,419
Commercial Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	46	0
US Treasury and Government [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,152	2,186
US Treasury and Government [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,030	2,068
US Treasury and Government [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	106	100
US Treasury and Government [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	16	18
US States and Political Subdivisions Debt Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	1,164	752
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	1,155	742
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	9	10
Debt Security, Government, Non-US [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	4,525	3,742
Debt Security, Government, Non-US [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Debt Security, Government, Non-US [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	4,509	3,737
Debt Security, Government, Non-US [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	$ 16	$ 5

Earnings Per Share (Schedule of Earnings Per Share Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ 235	$ 263	$ 202	$ 170	$ 110	$ 301	$ 205	$ 100	$ 870	$ 716	$ 1,822
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted Average Number of Shares Outstanding, Basic									62,684	63,658	64,427
Equivalent shares from outstanding stock options									1,198	1,436	1,326
Weighted Average Number of Shares Outstanding, Diluted									63,882	65,094	65,753
Earnings per share
Earnings Per Share, Basic (in dollars per share)	$ 3.75	$ 4.19	$ 3.23	$ 2.70	$ 1.75	$ 4.76	$ 3.19	$ 1.55	$ 13.88	$ 11.25	$ 28.28
Earnings Per Share, Diluted (in dollars per share)	$ 3.68	$ 4.12	$ 3.18	$ 2.65	$ 1.72	$ 4.68	$ 3.13	$ 1.52	$ 13.62	$ 11.00	$ 27.71

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Consolidation and Basis of Presentation

Basis of Presentation

The consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates include those used in determining deferred policy acquisition costs, premiums receivable, future policy benefits, incurred but not reported claims, income taxes, valuation of investments and investment impairments, and valuation of embedded derivatives. Actual results could differ materially from the estimates and assumptions used by management.

The accompanying consolidated financial statements include the accounts of RGA and its subsidiaries, all of which are wholly owned, and any variable interest entities where the Company is the primary beneficiary. Entities in which the Company has significant influence over the operating and financing decisions but are not required to be consolidated are reported under the equity method of accounting. The Company evaluates variable interest entities in accordance with the general accounting principles for Consolidation. Intercompany balances and transactions have been eliminated.

There were no subsequent events that would require disclosure or adjustments to the accompanying consolidated financial statements through the date the consolidated financial statements were issued.

Investments

Fixed Maturity Securities

Equity Securities

Equity securities are carried at fair value and realized and unrealized gains and losses are included in investment related gains (losses), net.

Mortgage Loans on Real Estate

Funds Withheld at Interest

Short-term Investments

Other Invested Assets

Securities Borrowing, Lending and Repurchase Agreements

Other-than-Temporary Impairment

Policy Loans Receivable

Policy Loans

Derivative Instruments

Overview

Accounting and Financial Statement Presentation of Derivatives

Changes in the fair value of free-standing derivative instruments, which do not receive accounting hedge treatment, are primarily reflected in investment related gains (losses), net.

Hedge Documentation and Hedge Effectiveness

Embedded Derivatives

Fair Value Measurements

See Note 6 - “Fair Value of Assets and Liabilities” for further details on the Company’s assets and liabilities recorded at fair value.

Cash and Cash Equivalents

Cash and cash equivalents include cash on deposit and highly liquid debt instruments purchased with an original maturity of three months or less.

Premiums Receivable

Deferred Policy Acquisition Costs


•	Incremental direct costs of a successful contract acquisition


•	Portions of employees’ salaries and benefits directly related to time spent performing specified acquisition activities for a contract that has been acquired or renewed


•	Other costs directly related to the specified acquisition or renewal activities that would not have been incurred had that acquisition contract transaction not occurred

Other Reinsurance Balances

Goodwill and Value of Business Acquired

Value of Distribution Agreements and Customer Relationships Acquired

Other acquired intangible assets

Other Assets

Property, Equipment, Leasehold Improvements and Computer Software

Future Policy Benefits

Interest-Sensitive Contract Liabilities

The Company establishes liabilities for guaranteed minimum living benefits relating to certain variable annuity products as follows:

Other Policy Claims and Benefits

Other Liabilities

Other liabilities primarily include investments in transit, separate accounts, employee benefits, cash collateral received on derivative positions and current federal income taxes payable.

Income Taxes


(i)	future taxable income exclusive of reversing temporary differences and carryforwards;


(ii)	future reversals of existing taxable temporary differences;


(iii)	taxable income in prior carryback years; and


(iv)	tax planning strategies.

Any such changes could significantly affect the amounts reported in the consolidated financial statements in the year these changes occur.

The Company made a policy election to account for global intangible low-taxed income (“GILTI”) as a period cost.

Collateral Finance Facility

Collateral Finance and Securitization Notes

Foreign Currency Translation

Recognition of Revenues and Related Expenses

Share-based Payment Arrangement [Policy Text Block]

Equity Based Compensation

Earnings Per Share

Basic earnings per share exclude any dilutive effects of any outstanding options. Diluted earnings per share include the dilutive effects assuming outstanding stock options were exercised.

Future Adoption of New Accounting Standards

New Accounting Pronouncements



Description	Date of Adoption	Effect on the Financial Statements or Other Significant Matters
Standards adopted:
Financial Instruments - Recognition and Measurement This guidance requires equity investments that are not accounted for under the equity method of accounting to be measured at fair value with changes recognized in net income and also updates certain presentation and disclosure requirements.	January 1, 2018	This guidance required a cumulative-effect adjustment for certain items upon adoption. The adoption of the new guidance was not material to the Company's financial position.
Compensation - Retirement Benefits - Defined Benefit Plans - General This guidance is part of the FASB’s disclosure framework project and eliminates certain disclosure requirements for defined benefit pension and other postretirement plans. Early adoption is permitted.	December 31, 2018	This guidance was applied retrospectively to all periods presented in the year of adoption. The adoption of the new guidance was not material to the Company’s financial position.
Leases This new standard, based on the principle that entities should recognize assets and liabilities arising from leases, does not significantly change the lessees’ recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Leases are classified as finance or operating. The new standard’s primary change is the requirement for entities to recognize a lease liability for payments and a right of use asset representing the right to use the leased asset during the term of operating lease arrangements. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. Lessors’ accounting is largely unchanged from the previous accounting standard. In addition, the new standard expands the disclosure requirements of lease arrangements. Early adoption is permitted.	January 1, 2019	This guidance was adopted by applying the optional transition method. The adoption of the standard did not have a material impact on the Company’s results of operations or financial position. The adoption of the updated guidance resulted in the Company recognizing a right-to-use asset and lease liability of $55.2 million included in other assets and other liabilities, respectively, in the consolidated balance sheets.
Derivatives and Hedging This updated guidance improves the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and make certain targeted improvements to simplify the application of the hedge accounting in current GAAP related to the assessment of hedge effectiveness. Early adoption is permitted.	January 1, 2019	This guidance was adopted by applying a modified retrospective approach to existing hedging relationships as of the date of adoption. The adoption of the new standard did not have a material impact on the Company’s results of operations or financial position. Upon adoption of the guidance, the Company recorded an immaterial adjustment to retained earnings as of the beginning of the first reporting period in which the guidance was effective and modified some disclosures.



Description	Anticipated Date of Adoption	Effect on the Financial Statements or Other Significant Matters
Standards not yet adopted:
Financial Services - Insurance This guidance significantly changes how insurers account for long-duration insurance contracts. The new guidance also significantly expands the disclosure requirements of long-duration insurance contracts. The new guidance will be effective for annual and interim reporting periods beginning January 1, 2022. Below are the most significant areas of change:	January 1, 2022	See each significant area of change below for the method of adoption and expected impact to the Company’s results of operations and financial position.
Cash flow assumptions for measuring liability for future policy benefits The new guidance requires insurers to review, and if necessary, update the cash flow assumptions used to measure liabilities for future policy benefits periodically. The change in the liability estimate as a result of updating cash flow assumptions will be recognized in net income.		Cash flow assumptions for measuring liability for future policy benefits The Company will likely adopt this guidance on a modified retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Discount rate assumption for measuring liability for future policy benefits The new guidance requires insurers to update the discount rate assumption used to measure liabilities for future policy benefits at each reporting period, and the discount rate utilized must be based on an upper-medium grade fixed income instrument yield. The change in the liability estimate as a result of updating the discount rate assumption will be recognized in other comprehensive income.		Discount rate assumption for measuring liability for future policy benefits The Company will likely adopt this guidance on a modified retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Market risk benefits The new guidance created a new category of benefit features called market risk benefits that will be measured at fair value with changes in fair value attributable to a change in the instrument-specific credit risk recognized in other comprehensive income.		Market risk benefits The Company will adopt this guidance on a retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Amortization of deferred acquisition costs (“DAC”) and other balances The new guidance requires DAC and other balances to be amortized on a constant level basis over the expected term of the related contracts.		Amortization of deferred acquisition costs (“DAC”) and other balances The Company will likely adopt this guidance on a modified retrospective basis as of the earliest period presented in the year of adoption. The Company is currently evaluating the impact of this amendment on its results of operations and financial position but anticipates the updated guidance will likely have a material impact.
Financial Instruments - Credit Losses This guidance adds to U.S. GAAP an impairment model, known as current expected credit loss (“CECL”) model that is based on expected losses rather than incurred losses. For traditional and other receivables, held-to-maturity debt securities, loans and other instruments entities will be required to use the new forward-looking “expected loss” model that generally will result in earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses similar to what they do today, except the losses will be recognized through an allowance for credit losses and adjusted each period for changes in credit risks. Early adoption is permitted.	January 1, 2020	For asset classes within the scope of the CECL model, this guidance will be adopted through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). For available-for-sale debt securities, this guidance will be applied prospectively. The allowance for credit losses will increase when this guidance is adopted to include expected losses over the lifetime of commercial mortgages and other loans, including reasonable and supportable forecasts and expected changes in future economic conditions. The overall impact is estimated to be an approximate $15 million increase in the allowance for credit losses. This increase will be reflected as a decrease to opening retained earnings, net of income taxes, as of January 1, 2020.
Fair Value Measurement This guidance is part of the FASB’s disclosure framework project and eliminates certain disclosure requirements for fair value measurement, requires entities to disclose new information and modifies existing disclosure requirements. Early adoption is permitted.	January 1, 2020	Certain disclosure changes in the new guidance will be applied prospectively in the year of adoption. The remaining changes in the new guidance will be applied retrospectively to all periods presented in the year of adoption. As of December 31, 2019, the Company early adopted the guidance that removed the requirements relating to transfers between fair value hierarchy levels and certain disclosures about valuation processes for Level 3 fair value measurements. The Company will adopt the remainder of the guidance on January 1, 2020. The adoption of the new guidance will not be material to the Company’s financial position.

Other

Policy Claims and Benefits (Tables)

12 Months Ended

Dec. 31, 2019

Insurance [Abstract]

Short-duration Insurance Contracts, Claims Development [Table Text Block]



U.S. and Latin America																	As of
(dollars in millions)																	December 31, 2019
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance ⁽¹⁾																	Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident Year	For the Years Ended December 31,
	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	323	$	309	$	297	$	298	$	299	$	298	$	297	$	297	$	—
2013			349		333		339		337		336		336		337		—
2014					408		411		396		397		396		399		—
2015							460		461		465		462		462		—
2016									501		500		501		497		1
2017											485		514		509		6
2018													538		538		28
2019															491		213
													Total		$	3,530



Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance ⁽¹⁾
Accident Year	For the Years Ended December 31,
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	109	$	222	$	244	$	252	$	258	$	264	$	268	$	272
2013			114		249		277		286		292		297		302
2014					129		305		337		349		356		364
2015							146		361		407		422		431
2016									185		393		437		451
2017											190		403		448
2018													183		415
2019															180
													Total		$	2,863
					All outstanding claims prior to 2012, net of reinsurance										152
			Liabilities for claims and claim adjustment expense, net of reinsurance												$	819


(1)	2012-2018 Unaudited.



Asia Pacific																	As of
(dollars in millions)																	December 31, 2019
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance ⁽¹⁾																	Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident Year	For the Years Ended December 31,
	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	207	$	278	$	282	$	285	$	293	$	303	$	308	$	313	$	7
2013			292		312		303		300		313		327		329		11
2014					276		299		264		270		283		285		13
2015							277		256		249		266		266		21
2016									227		205		212		219		24
2017											211		214		214		34
2018													253		270		76
2019															253		141
													Total		$	2,149



Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance ⁽¹⁾
Accident Year	For the Years Ended December 31,
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019
2012	$	49	$	135	$	185	$	222	$	243	$	259	$	274	$	283
2013			50		144		209		235		260		282		294
2014					34		135		177		205		228		241
2015							49		118		167		201		221
2016									38		97		133		152
2017											35		87		115
2018													32		106
2019															38
													Total		$	1,450
					All outstanding claims prior to 2012, net of reinsurance										98
			Liabilities for claims and claim adjustment expense, net of reinsurance												$	797

(1)

2012-2018 Unaudited.

Short-duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]

The following is unaudited supplementary information about average historical claims duration as of December 31, 2019:



Average Annual Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7		8
U.S. and Latin America	35.0	%	42.2	%	8.6	%	2.9	%	1.9	%	1.7	%	1.4	%	1.3	%
Asia Pacific	15.2	%	28.0	%	16.3	%	10.4	%	7.4	%	5.5	%	4.2	%	3.0	%

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block]



	2019
Liabilities for claims and claim adjustment expense, net of reinsurance:
U.S. and Latin America	$	819
Asia Pacific	797
Liabilities for claims and claim adjustment expense, net of reinsurance	1,616
Adjustments to reconcile to total policy claims and future policy benefits:
Reinsurance recoverable	14
Effect of discounting	(134		)
Unallocated claims adjustment expense	6
Total adjustments	(114		)
Other short-duration contracts:
Canada	131
Europe, Middle East and Africa	438
Other	224
Liability for unpaid claims and claim adjustment expense - short-duration	2,295
Liability for unpaid claims and claim adjustment expense - long-duration	4,491
Total liability for unpaid claims and claim adjustment expense (included in future policy benefits and other policy-related balances)	$	6,786

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]



	2019			2018			2017
Balance at beginning of year	$	6,585		$	5,896		$	5,181
Less: reinsurance recoverable	(433		)	(456		)	(395		)
Net balance at beginning of year	6,152			5,440			4,786
Incurred:
Current year	10,307			10,049			8,912
Prior years	154			131			14
Total incurred	10,461			10,180			8,926
Payments:
Current year	(5,140		)	(4,602		)	(4,514		)
Prior years	(5,305		)	(4,692		)	(4,004		)
Total payments	(10,445		)	(9,294		)	(8,518		)
Other changes:
Interest accretion	33			25			19
Foreign exchange adjustments	21			(199		)	227
Total other changes	54			(174		)	246

Net balance at end of year	6,222			6,152			5,440
Plus: reinsurance recoverable	564			433			456
Balance at end of year	$	6,786		$	6,585		$	5,896

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Future Policy Benefits) (Narrative) (Details)	Dec. 31, 2019
Maximum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate	6.00%
Minimum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate	3.00%

Equity Equity (Share Repurchase Program) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Treasury Stock, Value, Acquired, Cost Method	$ 101	$ 300	$ 43
Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Treasury Stock, Shares, Acquired	546,614
Treasury Stock, Value, Acquired, Cost Method	$ 80
Treasury Stock Acquired, Average Cost Per Share	$ 146.00

Income Tax (Tax Effects of Temporary Differences that Give Rise to Significant Portions of the Deferred Income Tax Asset and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred Tax Assets, Net [Abstract]
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals	$ 100	$ 86
Deferred Tax Assets Reinsurance Transactions	105	102
Deferred Tax Assets Cash And Invested Assets	0	28
Deferred Tax Assets Investment Income	7	80
Deferred Tax Assets Deferred Acquisition Costs Capitalized For Tax	127	125
Deferred Tax Assets, Operating Loss Carryforwards	330	406
Deferred Tax Assets Deferred Acquisition Costs Capitalized For Financial Reporting	38	33
Deferred Tax Assets, Gross	707	860
Deferred Tax Assets, Valuation Allowance	(236)	(181)
Deferred Tax Assets, Net	471	679
Deferred Tax Liabilities [Abstract]
Deferred Tax Liabilities, Deferred Expense, Deferred Policy Acquisition Cost	797	843
Deferred Tax Liabilities Reinsurance Transactions	1,293	1,152
Deferred Tax Liabilities Cash And Invested Assets	991	346
Deferred Tax Liabilities Investment Income	0	9
Deferred Tax Liabilities, Unrealized Currency Transaction Gains	52	53
Deferred Tax Liabilities, Prepaid Expenses	26	25
Total Deferred Income Tax Liabilities	3,159	2,428
Deferred Tax Liabilities, Net	2,688	1,749
Balance Sheet Presentation Of Deferred Tax Liabilities [Abstract]
Deferred Tax Assets, Other	24	50
Deferred income taxes	2,712	1,799
Deferred Tax Liabilities, Net	$ 2,688	$ 1,749

Segment Information (Reconciliation of Interest Expense from Segments to Consolidated) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Interest expense	$ 173	$ 147	$ 146
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Interest expense	$ 173	$ 147	$ 146

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Cash flows from operating activities
Net Income (Loss) Attributable to Parent	$ 870	$ 716	$ 1,822
Change in operating assets and liabilities:
Accrued investment income	(4)	7	(43)
Premiums receivable and other reinsurance balances	110	(764)	(347)
Deferred policy acquisition costs	(198)	(107)	154
Reinsurance ceded receivable balances	(178)	66	(124)
Future policy benefits, other policy claims and benefits, and other reinsurance balances	1,537	1,593	1,321
Deferred income taxes	211	77	(847)
Other assets and other liabilities, net	113	(163)	242
Amortization of net investment premiums, discounts and other	(55)	(57)	(105)
Depreciation, Depletion and Amortization	49	45	53
Investment related (gains) losses, net	(91)	170	(168)
Other, net	(57)	(2)	24
Net cash provided by operating activities	2,307	1,581	1,982
Cash flows from investing activities
Sales of fixed maturity securities available-for-sale	13,214	9,340	7,309
Principal payments on mortgage loans on real estate	907	627	589
Proceeds from Sale of Available-for-sale Securities, Equity	98	46	207
Proceeds from Sale and Collection of Mortgage Notes Receivable	490	445	340
Proceeds from Collection of Policy Loans	82	57	115
Payments to Acquire Available-for-sale Securities	(15,664)	(9,724)	(8,941)
Payments to Acquire Available-for-sale Securities, Equity	(312)	(13)	(81)
Purchases of fixed maturity securities available-for-sale	(1,216)	(1,019)	(964)
Payments to Fund Policy Loans	(42)	(45)	(45)
Cash invested in funds withheld at interest	(60)	(54)	(23)
Purchase of businesses, net of cash acquired of $27 and $5	4	(32)	0
Payments to Acquire Property, Plant, and Equipment	(34)	(29)	(44)
Change in short-term investments	199	129	52
Change in other invested assets	(304)	(365)	(122)
Net cash used in investing activities	(2,638)	(637)	(1,608)
Cash flows from financing activities
Dividends to stockholders	(163)	(140)	(117)
Repayment of collateral finance and securitization notes	(91)	(96)	(68)
Proceeds from long-term debt issuance	599	0	0
Debt issuance costs	(5)	0	0
Principal payments of long-term debt	(403)	(3)	(303)
Purchases of treasury stock	(101)	(300)	(44)
Exercise of stock options, net	6	3	7
Change in cash collateral for derivative positions and other arrangements	(163)	44	(65)
Deposits on universal life and other investment type policies and contracts	1,309	864	1,018
Withdrawals on universal life and other investment type policies and contracts	(1,109)	(694)	(752)
Net cash used in financing activities	(121)	(322)	(324)
Effect of exchange rate changes on cash	11	(36)	53
Change in cash and cash equivalents	(441)	586	103
Cash and cash equivalents, beginning of period	1,890	1,304	1,201
Cash and cash equivalents, end of period	1,449	1,890	1,304
Supplementary information:
Interest paid	180	170	173
Income taxes paid, net of refunds	44	142	37
Transfer to Investments	6,275	4,636	3,286
Capital Expenditures Incurred but Not yet Paid	1	0	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	8	70	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	$ (12)	$ (38)	$ 0

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share Basic And Diluted By Common Class [Table Text Block]

The following table sets forth the computation of basic and diluted earnings per share on net income (in millions, except per share information):



	2019		2018		2017
Earnings:
Net income (numerator for basic and diluted calculations)	$	870	$	716	$	1,822
Shares:
Weighted average outstanding shares (denominator for basic calculations)	62,684		63,658		64,427
Equivalent shares from outstanding stock options	1,198		1,436		1,326
Diluted shares (denominator for diluted calculations)	63,882		65,094		65,753
Earnings per share:
Basic	$	13.88	$	11.25	$	28.28
Diluted	13.62		11.00		27.71

Investments (Exposure To Concentrations Of Credit Risk) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 29,205	$ 24,006
Available-for-sale Securities	31,393	23,982
Canadian Province Of Ontario Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	1,205	1,091
Available-for-sale Securities	2,163	1,757
Canadian Province Of Quebec Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	1,014	914
Available-for-sale Securities	$ 1,379	$ 1,188

Summary of Significant Accounting Policies (New Accounting Pronouncements) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Amount	$ 8.0	$ 6.0	$ 10.0
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(15.0)
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(55.2)
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	0.0	3.0	(18.0)
AOCI Attributable to Parent [Member] \| Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification		$ 4.0	$ (157.0)

Employee Benefit Plans (Schedule of Expected Future Benefit Payments) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Expected Future Benefit Payments in Year One	$ 11
Defined Benefit Plan, Expected Future Benefit Payments in Year Two	11
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	13
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	13
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	14
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter	83
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Expected Future Benefit Payments in Year One	2
Defined Benefit Plan, Expected Future Benefit Payments in Year Two	2
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	2
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	3
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	3
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter	$ 21

Quarterly Results of Operations

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)



Years Ended December 31,
(in millions, except per share data)
2019	First		Second		Third		Fourth
Total Revenues	$	3,420	$	3,467	$	3,628	$	3,785
Total benefits and expenses	3,203		3,207		3,281		3,477
Income before income taxes	217		260		347		308
Net Income	170		202		263		235
Earnings Per Share:
Basic earnings per share	$	2.70	$	3.23	$	4.19	$	3.75
Diluted earnings per share	2.65		3.18		4.12		3.68
2018	First		Second		Third		Fourth
Total Revenues	$	3,174	$	3,196	$	3,227	$	3,279
Total benefits and expenses	3,036		2,949		2,904		3,141
Income before income taxes	138		247		323		138
Net Income	100		205		301		110
Earnings Per Share:
Basic earnings per share	$	1.55	$	3.19	$	4.76	$	1.75
Diluted earnings per share	1.52		3.13		4.68		1.72

Income Tax Income Tax (Net Operating Loss Carryforward) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 1,312
No Expiration And No Valuation Allowance [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	129
Full Valuation Allowance [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	140
No Expiration And Partial Valuation Allowance [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	513
Expiration Dates Between 2029 And 2035 With No Valuation Allowance [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 530

Business and Basis of Presentation	12 Months Ended
Business and Basis of Presentation	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	BUSINESS AND BASIS OF PRESENTATION Business Reinsurance Group of America, Incorporated (“RGA”) is an insurance holding company that was formed on December 31, 1992. The consolidated financial statements herein include the assets, liabilities, and results of operations of RGA and its subsidiaries, all of which are wholly owned (collectively, the “Company”). The Company is engaged in providing traditional reinsurance, which includes individual and group life and health, disability, and critical illness reinsurance. The Company also provides financial solutions, which includes longevity reinsurance, asset-intensive products, primarily annuities, financial reinsurance, capital solutions and stable value products. Reinsurance is an arrangement under which an insurance company, the reinsurer, agrees to indemnify another insurance company, the ceding company, for all or a portion of the insurance risks underwritten by the ceding company. Reinsurance is designed to (i) reduce the net amount at risk on individual risks, thereby enabling the ceding company to increase the volume of business it can underwrite, as well as increase the maximum risk it can underwrite on a single risk; (ii) enhance the ceding company’s financial strength and surplus position; (iii) stabilize operating results by leveling fluctuations in the ceding company’s loss experience; and (iv) assist the ceding company in meeting applicable regulatory requirements. Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates include those used in determining deferred policy acquisition costs, premiums receivable, future policy benefits, incurred but not reported claims, income taxes, valuation of investments and investment impairments, and valuation of embedded derivatives. Actual results could differ materially from the estimates and assumptions used by management. The accompanying consolidated financial statements include the accounts of RGA and its subsidiaries, all of which are wholly owned, and any variable interest entities where the Company is the primary beneficiary. Entities in which the Company has significant influence over the operating and financing decisions but are not required to be consolidated are reported under the equity method of accounting. The Company evaluates variable interest entities in accordance with the general accounting principles for Consolidation. Intercompany balances and transactions have been eliminated. There were no subsequent events that would require disclosure or adjustments to the accompanying consolidated financial statements through the date the consolidated financial statements were issued.

Income Tax (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Pre-tax income for the years ended December 31, 2019, 2018 and 2017 consists of the following (dollars in millions):



	2019		2018		2017
Pre-tax income - U.S.	$	871	$	626	$	871
Pre-tax income - foreign	261		220		272
Total pre-tax income	$	1,132	$	846	$	1,143

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income tax expense for the years ended December 31, 2019, 2018 and 2017 consists of the following (dollars in millions):



	2019			2018			2017
Current income tax expense (benefit):
U.S.	$	(9	)	$	78		$	131
U.S. Tax Reform	—			(68		)	—
Foreign	60			43			37
Total current	51			53			168
Deferred income tax expense (benefit):
U.S.	182			63			160
U.S. Tax Reform	—			6			(1,034		)
Foreign	29			8			27
Total deferred	211			77			(847		)
Total provision for income taxes	$	262		$	130		$	(679	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]



	2019			2018			2017
Tax provision at U.S. statutory rate	$	238		$	178		$	400
Increase (decrease) in income taxes resulting from:
U.S. Tax Reform	—			(62		)	(1,034		)
Foreign tax rate differing from U.S. tax rate	2			4			(22		)
Differences in tax basis in foreign jurisdictions	(23		)	(23		)	(23		)
Deferred tax valuation allowance	56			23			29
Amounts related to audit contingencies	8			1			(7		)
Equity compensation excess benefit	(8		)	(6		)	(10		)
Corporate rate changes	(1		)	1			(6		)
GILTI, net of credits	—			10			—
Subpart F for non-full inclusion companies	1			1			2
Foreign tax credits	(6		)	(3		)	(2		)
Return to provision adjustments	(6		)	(1		)	(5		)
Other, net	1			7			(1		)
Total provision for income taxes	$	262		$	130		$	(679	)
Effective tax rate	23.1		%	15.4		%	(59.4		)%

Schedule Of Income Tax Expense Benefit Intraperiod Tax Allocation [Table Text Block]

Total income taxes for the years ended December 31, 2019, 2018 and 2017 were as follows (dollars in millions):



	2019			2018			2017
Provision for income taxes	$	262		$	130		$	(679	)
Income tax from OCI and additional paid-in-capital:
Net unrealized holding gain (loss) on debt and equity securities recognized for financial reporting purposes	681			(368		)	307
Foreign currency translation	3			19			(42		)
Unrealized pension and post retirement	(5		)	—			—
Total income taxes provided	$	941		$	(219	)	$	(414	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]



	2019			2018
Deferred income tax assets:
Nondeductible accruals	$	100		$	86
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	105			102
Differences in the tax basis of cash and invested assets	—			28
Investment income differences	7			80
Deferred acquisition costs capitalized for tax	127			125
Net operating loss carryforward	330			406
Capital loss and tax credit carryforwards	38			33
Subtotal	707			860
Valuation allowance	(236		)	(181		)
Total deferred income tax assets	471			679
Deferred income tax liabilities:
Deferred acquisition costs capitalized for financial reporting	797			843
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	1,293			1,152
Differences in the tax basis of cash and invested assets	991			346
Investment income differences	—			9
Differences in foreign currency translation	52			53
Anticipated future tax credit reduction	26			25
Total deferred income tax liabilities	3,159			2,428
Net deferred income tax liabilities	$	2,688		$	1,749
Balance sheet presentation of net deferred income tax liabilities:
Included in other assets	$	24		$	50
Included in deferred income taxes	2,712			1,799
Net deferred income tax liabilities	$	2,688		$	1,749

Summary of Operating Loss Carryforwards [Table Text Block]

The following table presents consolidated net operating losses (“NOL”) as of December 31, 2019 (dollars in millions):



	2019
NOL with no expiration and with no valuation allowance	$	129
NOL with a full valuation allowance	140
NOL with no expiration and a partial valuation allowance	513
NOL with expiration dates between 2029 & 2038 with no valuation allowance	530
Total net operating loss carryforwards	$	1,312

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017, is as follows (dollars in millions):



	Total Unrecognized Tax Benefits
	2019			2018			2017
Beginning balance, January 1	$	325		$	321		$	297
Acquisition Accounting	—			1			—
Additions for tax positions of prior years	264			256			248
Reductions for tax positions of prior years	(262		)	(257		)	(247		)
Additions for tax positions of current year	6			4			36
Settlements with tax authorities	—			—			(13		)
Ending balance, December 31	$	333		$	325		$	321

Derivative Instruments (Non Hedging Derivatives and Embedded Derivatives Effect on Income Statement) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	$ 91	$ (170)	$ 168
Other revenues	(392)	(363)	(352)
Gain Loss On Investments Related To Change In Fair Value Of Derivatives Excluding Embedded Derivatives	4	0	(43)
Interest credited	(697)	(425)	(502)
Not Designated as Hedging Instrument [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(37)	(1)	54
Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	65	(21)	11
Not Designated as Hedging Instrument [Member] \| Future [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(46)	21	(36)
Not Designated as Hedging Instrument [Member] \| Currency Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	0	(4)	0
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	1	0	1
Not Designated as Hedging Instrument [Member] \| Consumer Price Index Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(18)	(10)	(2)
Not Designated as Hedging Instrument [Member] \| Credit Default Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	30	(2)	18
Not Designated as Hedging Instrument [Member] \| Equity [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(40)	7	(43)
Not Designated as Hedging Instrument [Member] \| Longevity Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Other revenues	(13)	(9)	(9)
Not Designated as Hedging Instrument [Member] \| Mortality Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Other revenues	(1)	0	(1)
Not Designated as Hedging Instrument [Member] \| Embedded Derivatives In Modified Coinsurance Or Funds Withheld Arrangements [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	11	(13)	145
Not Designated as Hedging Instrument [Member] \| Embedded Derivatives In Indexed Annuity [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Interest credited	(57)	(27)	(80)
Not Designated as Hedging Instrument [Member] \| Embedded Derivatives In Variable Annuity [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	$ 5	$ (15)	$ 32

Investments (Investment Income Net of Related Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	$ 2,616	$ 2,229	$ 2,236
Investment Income, Investment Expense	(96)	(90)	(81)
Investment income, net of related expenses	2,520	2,139	2,155
Available-for-sale Securities [Member]
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	1,786	1,529	1,402
Equity Securities [Member]
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	8	4	4
Mortgage Loans on Real Estate [Member]
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	255	214	198
Policy Loans [Member]
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	58	59	61
Funds Withheld At Interest [Member]
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	297	310	458
Short-term Investments [Member]
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	28	14	7
Other Aggregated Investments [Member]
Major Categories Of Investment Income Net Of Expenses [Line Items]
Gross Investment Income, Operating	$ 184	$ 99	$ 106

Derivative Instruments (Current Period Cash Flow Hedges in AOCI (loss) before Taxes) (Details) - Cash Flow Hedging [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Balance, Beginning of Period	$ 9	$ 3	$ (2)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(34)	6	6
Balance, End of Period	(26)	9	3
Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	(1)
Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (1)	$ 0	$ 0

Employee Benefit Plans (Schedule of Net Funded Status) (Details) - USD ($)
$ in Millions

Dec. 31, 2019

Dec. 31, 2018

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

$ 133

$ 103

Defined Benefit Plan, Benefit Obligation

220

179

Defined Benefit Plan, Funded Status of Plan, Total

(87)

(76)

Qualified Plan [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

133

103

Defined Benefit Plan, Benefit Obligation

139

112

Defined Benefit Plan, Funded Status of Plan, Total

(6)

(9)

Nonqualified Plan [Member]

Defined Benefit Plan Change In Benefit Obligation [Line Items]

Defined Benefit Plan, Plan Assets, Amount

^[1]

Defined Benefit Plan, Benefit Obligation

^[1]

Defined Benefit Plan, Funded Status of Plan, Total

^[1]

$ (81)

$ (67)

[1]	For non-qualified plans, there are no required funding levels.

Investments (Credit Losses Recognized in Earnings on Fixed Maturity Securities Held by the Company) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Balance, beginning of period	$ 4	$ 4	$ 6
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Change in Status	0	0	2
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold	(2)	0	0
Balance, end of period	$ 2	$ 4	$ 4

Investments (Fair Value and Losses by Investment Category and Length of Time in a Loss Position) (Details) - Fixed Maturities [Member] - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 3,979	$ 12,040
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	84	408
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	1,238	7,216
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	26	340
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	5,217	19,256
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	110	748
External Credit Rating, Investment Grade [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	3,759	11,155
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	46	359
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	1,128	7,093
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	18	325
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	4,887	18,248
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	64	684
External Credit Rating, Investment Grade [Member] \| Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	1,936	8,505
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	29	302
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	293	3,612
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	7	195
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	2,229	12,117
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	36	497
External Credit Rating, Investment Grade [Member] \| Canadian Provincial Governments [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0	132
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	0	2
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	0	132
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	0	2
External Credit Rating, Investment Grade [Member] \| Residential Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	367	270
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	2	2
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	84	836
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	1	23
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	451	1,106
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	3	25
External Credit Rating, Investment Grade [Member] \| Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	773	1,102
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	5	24
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	739	382
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	9	9
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	1,512	1,484
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	14	33
External Credit Rating, Investment Grade [Member] \| Commercial Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	253	384
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	3	4
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0	415
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	0	14
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	253	799
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	3	18
External Credit Rating, Investment Grade [Member] \| US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	49	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	1	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0	1,086
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	0	58
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	49	1,086
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	1	58
External Credit Rating, Investment Grade [Member] \| US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	103	104
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	2	2
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	12	157
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	1	7
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	115	261
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	3	9
External Credit Rating, Investment Grade [Member] \| Debt Security, Government, Non-US [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	278	790
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	4	25
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0	473
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	0	17
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	278	1,263
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	4	42
External Credit Rating, Non Investment Grade [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	220	885
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	38	49
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	110	123
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	8	15
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	330	1,008
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	46	64
External Credit Rating, Non Investment Grade [Member] \| Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	220	756
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	38	43
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	100	123
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	7	15
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	320	879
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	45	58
External Credit Rating, Non Investment Grade [Member] \| Debt Security, Government, Non-US [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	0	129
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	0	6
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	10	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	1	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	10	129
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	$ 1	$ 6

Investments (Securities Pledged as Collateral Related to Repurchase Reverse Repurchase Program) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	$ 104	$ 103
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	384	554
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	478	671
Secured Borrowings, Gross, Difference, Amount	10	14
Obligation to Return Securities Received as Collateral	488	657
Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	0	0
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Obligation to Return Securities Received as Collateral	0	0
Maturity Less than 30 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	0	0
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Obligation to Return Securities Received as Collateral	0	0
Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	0	0
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Obligation to Return Securities Received as Collateral	0	0
Maturity Greater than 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	104	103
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	384	554
Obligation to Return Securities Received as Collateral	488	657
Corporate Debt Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	104	103
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	286	254
Corporate Debt Securities [Member] \| Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	0	0
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Corporate Debt Securities [Member] \| Maturity Less than 30 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	0	0
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Corporate Debt Securities [Member] \| Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	0	0
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Corporate Debt Securities [Member] \| Maturity Greater than 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	104	103
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	286	254
US Government Agencies Debt Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	221
US Government Agencies Debt Securities [Member] \| Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
US Government Agencies Debt Securities [Member] \| Maturity Less than 30 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
US Government Agencies Debt Securities [Member] \| Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
US Government Agencies Debt Securities [Member] \| Maturity Greater than 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	221
Debt Security, Government, Non-US [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	98	79
Debt Security, Government, Non-US [Member] \| Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Debt Security, Government, Non-US [Member] \| Maturity Less than 30 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Debt Security, Government, Non-US [Member] \| Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Debt Security, Government, Non-US [Member] \| Maturity Greater than 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	$ 98	$ 79