- --------------------                       UNITED STATES SECURITIES AND EXCHANGE COMMISSION       ---------------------------------
      FORM 5                                            WASHINGTON, D.C. 20549                             OMB APPROVAL
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                                          ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP     OMB Number:             3235-0362
/ /  Check box if no longer subject to                                                            Expires:         January 31, 2005
     Section 16. Form 4 or Form 5                                                                 Estimated average burden
     obligations may continue.                                                                    hours per response . . . . .  1.0
     See Instruction 1(b).                                                                        ---------------------------------

/ /  Form 3 Holdings Reported              Filed pursuant to Section 16(a) of the Securities
                                           Exchange Act of 1934, Section 17(a) of the Public
                                                Utility Holding Company Act of 1935 or
                                          Section 30(h) of the Investment Company Act of 1940
/ /  Form 4 Transactions Reported

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1. Name and Address of Reporting   2. Issuer Name AND Ticker or Trading Symbol   6. Relationship of Reporting Person(s) to Issuer
   Person*                                                                                     (Check all applicable)
                                                                                    __Director                    __10% Owner
                                                                                    X Officer (give title below)  __Other
                                   Reinsurance Group of America, Incorporated                                      (specify below)
Schuster   Paul            A.      (NYSE:RGA)                                       Executive Vice President, U.S. Division
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(Last)     (First)      (Middle)   3. I.R.S. Identification    4. Statement for
                                      Number of Reporting         Month/Year
1370 Timberlake Manor Parkway         Person, if an entity        December 2002
- ---------------------------------     (Voluntary)              ----------------- --------------------------------------------------
            (Street)                                           5. If Amendment,  7. Individual or Joint/Group Reporting
                                                                  Date of           (check applicable line)
                                                                  Original          X Form Filed by One Reporting Person
                                                                  (Month/Year)      __Form Filed by More than One Reporting Person
Chesterfield,  MO      63017-6039
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(City)      (State)      (Zip)
=================================================================================================================================== TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED ===================================================================================================================================
1. Title of 2. Trans- 2A. Deemed 3. Trans- 4. Securities Acquired (A) or 5. Amount of 6. Ownership 7. Nature of Security action Execu- action Disposed of (D) (Instr. 3, 4 Securities Form: Indirect (Instr. 3) Date tion Code and 5) Beneficially Direct Beneficial (Month/ Date, (Instr. Owned at the (D) or Ownership Day/ if any 8) ------------------------------- end of Indirect (Instr. 4) Year) (Month/ (A) or Issuer's (I) Day/ Amount (D) Price Fiscal Year (Instr. 4) Year) (Instr. 3 and 4) - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- =================================================================================================================================== *If the form is filed by more than one reporting person, see Instruction 4(b)(v).
==================================================================================================================================== TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) ====================================================================================================================================
9. 10. Number of Owner- Deriv- ship 2. ative Form of Conver- 5. 7. Secu- Deriv- 11. sion Number of Title and Amount rities ative Nature or 3A. Derivative 6. of Underlying 8. Bene- Secu- of Exer- Deemed 4. Securities Date Securities Price ficially rity: In- cise 3. Execu- Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Owned Direct direct Price Trans- tion action or Disposed Expiration Date ---------------- Deriv- at End (D) Bene- 1. of action Date, Code of (D) (Month/Day/Year) Amount ative of Year or In- ficial Title of Deriv- Date if any (Instr. (Instr. 3, ---------------- or Secu- (Instr. direct Owner- Derivative ative (Month/ (Month/ 8) 4 and 5) Date Expira- Number rity 4) (I) ship Security Secu- Day/ Day/ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. 3) rity Year) Year) (A) (D) cisable Date Title Shares 5) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ Stock Option $31.91 1/17/02 A 20,762 (1) 1/1/12 Common 20,762 20,762 D Stock - ------------------------------------------------------------------------------------------------------------------------------------ Performance 1-for-1 2/13/02 A 465.9 (2) (2) Common 465.9 465.9 D Share Stock - ------------------------------------------------------------------------------------------------------------------------------------ Performance 1-for-1 (3) A 27.7 (3) (3) Common 27.7 27.7 D Share Stock Dividend Equivalent Right - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: (1) Vests in 20% increments on each of January 1, 2003, 2004, 2005, 2006, and 2007. (2) Vests in 1/3 increments on each of December 31, 2002, 2003, and 2004; exercisable in limited circumstances set forth in the registrant's Executive Performance Share Plan. (3) Acquired on quarterly dividend record dates during 2002. Rights become vested and expire proportionately with the performance shares to which they relate. William L. Hutton December 10, 2002 ---------------------------------------------------------- ---------------------------------- **Signature of Reporting Person Date Attorney-in-fact ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.