Separate Account VA V

FINANCIAL STATEMENTS

Transamerica Life Insurance Company

Separate Account VA V

Years Ended December 31, 2023 and 2022

Transamerica Life Insurance Company

Separate Account VA V

Financial Statements

Years Ended December 31, 2023 and 2022

Contents


Report of Independent Registered Public Accounting Firm		1

Financial Statements

Statements of Assets and Liabilities		2
Statements of Operations and Changes in Net Assets		6
Notes to Financial Statements		22

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Transamerica Life Insurance Company and the Contract Owners of Separate Account VA V

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts of Separate Account VA V indicated in the table below as of December 31, 2023, and the related statements of operations and changes in net assets for each of the two years in the period ended December 31, 2023, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the subaccounts of Separate Account VA V as of December 31, 2023, and the results of each of their operations and the changes in each of their net assets for each of the two years in the period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.


AB Balanced Hedged Allocation Class B Shares		TA Aegon Core Bond Service Class
Fidelity® VIP Index 500 Service Class 2		TA Aegon High Yield Bond Service Class
Franklin Allocation Class 4 Shares		TA Aegon Sustainable Equity Income Service Class
ProFund Access VP High Yield		TA Aegon U.S. Government Securities Service Class
ProFund VP Asia 30		TA BlackRock Government Money Market Service Class
ProFund VP Bull		TA BlackRock iShares Active Asset Allocation - Conservative Service Class
ProFund VP Communication Services		TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class
ProFund VP Consumer Discretionary		TA BlackRock iShares Edge 40 Service Class
ProFund VP Emerging Markets		TA BlackRock Real Estate Securities Service Class
ProFund VP Energy		TA BlackRock Tactical Allocation Service Class
ProFund VP Europe 30		TA Goldman Sachs Managed Risk - Balanced ETF Service Class
ProFund VP Falling U.S. Dollar		TA Goldman Sachs Managed Risk - Conservative ETF Service Class
ProFund VP Financials		TA Goldman Sachs Managed Risk - Growth ETF Service Class
ProFund VP Government Money Market		TA International Focus Service Class
ProFund VP International		TA Janus Balanced Service Class
ProFund VP Japan		TA Janus Mid-Cap Growth Service Class
ProFund VP Materials		TA JPMorgan Asset Allocation - Conservative Service Class
ProFund VP Mid-Cap		TA JPMorgan Asset Allocation - Growth Service Class
ProFund VP NASDAQ-100		TA JPMorgan Asset Allocation - Moderate Service Class
ProFund VP Pharmaceuticals		TA JPMorgan Asset Allocation - Moderate Growth Service Class
ProFund VP Precious Metals		TA JPMorgan Enhanced Index Service Class
ProFund VP Short Emerging Markets		TA JPMorgan International Moderate Growth Service Class
ProFund VP Short International		TA JPMorgan Tactical Allocation Service Class


ProFund VP Short NASDAQ-100		TA Multi-Managed Balanced Service Class
ProFund VP Short Small-Cap		TA PIMCO Tactical - Balanced Service Class
ProFund VP Small-Cap		TA PIMCO Tactical - Conservative Service Class
ProFund VP Small-Cap Value		TA PIMCO Tactical - Growth Service Class
ProFund VP U.S. Government Plus		TA Small/Mid Cap Value Service Class
ProFund VP UltraSmall-Cap		TA T. Rowe Price Small Cap Service Class
ProFund VP Utilities		TA WMC US Growth Service Class
TA Aegon Bond Service Class

Basis for Opinions

These financial statements are the responsibility of the Transamerica Life Insurance Company management. Our responsibility is to express an opinion on the financial statements of each of the subaccounts of Separate Account VA V based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to each of the subaccounts of Separate Account VA V in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of investments owned as of December 31, 2023 by correspondence with the custodian, the transfer agent, or the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Chicago, Illinois

April 19, 2024

We have served as the auditor of one or more of the subaccounts of Separate Account VA V since 2014.

Transamerica Life Insurance Company

Separate Account VA V

Statements of Assets and Liabilities

December 31, 2023


Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account		Net Assets		Units Outstanding		Range of Unit Values
AB Balanced Hedged Allocation Class B Shares		5,565.779	$	56,894	$	48,033	$	(2)	$	48,031		21,219	$	2.141578	$	12.909795
Fidelity^® VIP Index 500 Service Class 2		1,670.060		342,291		760,345		94		760,439		179,508		3.981031		21.278231
Franklin Allocation Class 4 Shares		39,881.134		193,642		203,394		18		203,412		84,221		2.324950		12.968226
ProFund Access VP High Yield		310.884		8,646		7,694		(5)		7,689		4,383		1.711687		10.874771
ProFund VP Asia 30		25.685		1,130		911		(12)		899		1,092		0.778207		10.676187
ProFund VP Bull		4,035.167		184,705		203,897		10		203,907		84,423		2.348794		19.008324
ProFund VP Communication Services		97.703		3,315		3,726		(3)		3,723		3,144		1.156163		10.909396
ProFund VP Consumer Discretionary		3,332.823		243,803		219,966		(5)		219,961		68,894		3.116868		17.167369
ProFund VP Emerging Markets		408.941		10,090		11,569		1		11,570		14,696		0.759329		12.588512
ProFund VP Energy		904.057		34,377		38,142		(10)		38,132		36,492		1.000981		11.765533
ProFund VP Europe 30		30.706		769		795		(1)		794		766		0.980158		13.390964
ProFund VP Falling U.S. Dollar		211.361		4,127		3,295		1		3,296		6,680		0.474794		8.285643
ProFund VP Financials		302.947		11,586		13,914		(4)		13,910		10,779		1.259219		15.320137
ProFund VP Government Money Market		281,525.696		281,526		281,526		(6)		281,520		336,367		0.810107		9.770971
ProFund VP International		325.130		6,766		6,691		3		6,694		7,944		0.790137		12.151798
ProFund VP Japan		-		-		-		-		-		-		1.237337		16.304835
ProFund VP Materials		405.536		23,176		34,665		22		34,687		19,590		1.686067		15.954140
ProFund VP Mid-Cap		658.609		10,467		11,005		(3)		11,002		4,988		2.079119		14.373897
ProFund VP NASDAQ-100		602.097		27,373		34,843		(19)		34,824		6,010		5.474370		28.869466
ProFund VP Pharmaceuticals		0.349		13		12		(12)		-		-		1.892135		11.807182
ProFund VP Precious Metals		201.276		3,827		5,112		(10)		5,102		9,784		0.505901		11.952162
ProFund VP Short Emerging Markets		-		-		-		-		-		-		0.134000		4.265531
ProFund VP Short International		-		-		-		-		-		-		0.197522		5.129137
ProFund VP Short NASDAQ-100		2.268		46		28		(1)		27		776		0.033191		1.901842
ProFund VP Short Small-Cap		-		-		-		-		-		-		0.074519		4.069409
ProFund VP Small-Cap		66.436		2,555		2,279		(3)		2,276		1,284		1.681386		12.874738
ProFund VP Small-Cap Value		479.155		19,416		20,584		(11)		20,573		9,826		1.975400		13.245723
ProFund VP U.S. Government Plus		1,268.738		36,849		16,138		3		16,141		14,615		1.078103		7.312503
ProFund VP UltraSmall-Cap		-		-		-		-		-		-		1.555452		11.694522
ProFund VP Utilities		277.751		10,834		10,396		(20)		10,376		5,885		1.689685		13.156079
TA Aegon Bond Service Class		59,112.974		634,748		566,893		12		566,905		414,995		1.244159		9.855785
TA Aegon Core Bond Service Class		36,605.827		508,153		435,609		1		435,610		319,935		1.271626		9.980381
TA Aegon High Yield Bond Service Class		6,970.379		53,505		48,723		2		48,725		23,471		1.976410		11.827481
TA Aegon Sustainable Equity Income Service Class		23,940.068		434,649		438,343		4		438,347		184,009		2.015154		12.036481
TA Aegon U.S. Government Securities Service Class		89,517.118		878,312		847,727		9		847,736		728,398		1.085597		9.504726
TA BlackRock Government Money Market Service Class		661,948.280		661,948		661,948		(76)		661,872		706,272		0.884155		10.007152
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		109.439		1,172		981		2		983		777		1.213674		11.531532
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		4,682.000		51,249		48,178		-		48,178		35,872		1.286758		11.561147
TA BlackRock iShares Edge 40 Service Class		12,115.865		108,707		103,833		1		103,834		65,351		1.517828		11.859310
TA BlackRock Real Estate Securities Service Class		7,413.011		87,301		77,466		(2)		77,464		34,950		1.689461		11.413924


See accompanying notes.		2

Transamerica Life Insurance Company

Separate Account VA V

Statements of Assets and Liabilities

December 31, 2023


Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account		Net Assets		Units Outstanding		Range of Unit Values
TA BlackRock Tactical Allocation Service Class		878.449	$	12,412	$	11,806	$	11	$	11,817		8,480	$	1.344334	$	13.346246
TA Goldman Sachs Managed Risk - Balanced ETF Service Class		14,697.620		165,363		167,259		(1)		167,258		111,870		1.445686		12.582948
TA Goldman Sachs Managed Risk - Conservative ETF Service Class		609.550		7,304		6,864		-		6,864		4,868		1.371336		11.506106
TA Goldman Sachs Managed Risk - Growth ETF Service Class		57,652.707		580,564		597,282		(16)		597,266		344,472		1.644698		14.204528
TA International Focus Service Class		15,239.004		118,973		128,922		4		128,926		91,789		1.353273		14.398852
TA Janus Balanced Service Class		20,153.474		350,786		320,843		-		320,843		164,362		1.893668		16.271295
TA Janus Mid-Cap Growth Service Class		4,156.143		128,228		115,416		17		115,433		29,311		3.786156		21.025725
TA JPMorgan Asset Allocation - Conservative Service Class		401,781.437		3,893,433		3,411,124		(12)		3,411,112		2,054,269		1.524008		11.802322
TA JPMorgan Asset Allocation - Growth Service Class		269,332.458		3,094,838		2,744,498		(41)		2,744,457		973,277		2.510678		17.359830
TA JPMorgan Asset Allocation - Moderate Service Class		1,111,309.738		12,232,626		11,179,776		(133)		11,179,643		5,398,991		1.795572		12.926657
TA JPMorgan Asset Allocation - Moderate Growth Service Class		1,898,224.196		21,308,805		18,716,491		162		18,716,653		8,208,217		2.072358		14.465754
TA JPMorgan Enhanced Index Service Class		5,776.700		128,665		137,254		(14)		137,240		32,793		3.944529		21.592186
TA JPMorgan International Moderate Growth Service Class		243,915.367		2,264,865		2,207,434		(24)		2,207,410		1,700,234		1.203972		12.806830
TA JPMorgan Tactical Allocation Service Class		4,594.608		65,254		60,557		10		60,567		42,787		1.232200		11.601612
TA Multi-Managed Balanced Service Class		261,781.488		3,906,924		3,900,544		23		3,900,567		1,179,377		2.995219		16.125259
TA PIMCO Tactical - Balanced Service Class		1,037.356		12,063		9,917		-		9,917		7,936		1.182797		11.710948
TA PIMCO Tactical - Conservative Service Class		0.208		2		2		(2)		-		-		1.098996		11.394947
TA PIMCO Tactical - Growth Service Class		1,754.111		19,135		16,839		-		16,839		13,052		1.259186		13.032405
TA Small/Mid Cap Value Service Class		31,411.938		586,736		570,127		(21)		570,106		116,539		4.368425		15.563427
TA T. Rowe Price Small Cap Service Class		58,747.214		687,609		575,723		(13)		575,710		130,540		4.359114		17.226411
TA WMC US Growth Service Class		46,164.932		1,387,456		1,569,608		19		1,569,627		324,643		4.542557		25.939440


See accompanying notes.		3

Transamerica Life Insurance Company

Separate Account VA V

Statements of Assets and Liabilities

December 31, 2023


Subaccount		Net Assets Representing: Accumulation Units		Net Assets Representing: Contracts in Payout (Annuitization) Period			Total Net Assets
AB Balanced Hedged Allocation Class B Shares	$		48,031	$	-	$		48,031
Fidelity^® VIP Index 500 Service Class 2			760,439		-			760,439
Franklin Allocation Class 4 Shares			203,412		-			203,412
ProFund Access VP High Yield			7,689		-			7,689
ProFund VP Asia 30			899		-			899
ProFund VP Bull			203,907		-			203,907
ProFund VP Communication Services			3,723		-			3,723
ProFund VP Consumer Discretionary			219,961		-			219,961
ProFund VP Emerging Markets			11,570		-			11,570
ProFund VP Energy			38,132		-			38,132
ProFund VP Europe 30			794		-			794
ProFund VP Falling U.S. Dollar			3,296		-			3,296
ProFund VP Financials			13,910		-			13,910
ProFund VP Government Money Market			281,520		-			281,520
ProFund VP International			6,694		-			6,694
ProFund VP Japan			-		-			-
ProFund VP Materials			34,687		-			34,687
ProFund VP Mid-Cap			11,002		-			11,002
ProFund VP NASDAQ-100			34,824		-			34,824
ProFund VP Pharmaceuticals			-		-			-
ProFund VP Precious Metals			5,102		-			5,102
ProFund VP Short Emerging Markets			-		-			-
ProFund VP Short International			-		-			-
ProFund VP Short NASDAQ-100			27		-			27
ProFund VP Short Small-Cap			-		-			-
ProFund VP Small-Cap			2,276		-			2,276
ProFund VP Small-Cap Value			20,573		-			20,573
ProFund VP U.S. Government Plus			16,141		-			16,141
ProFund VP UltraSmall-Cap			-		-			-
ProFund VP Utilities			10,376		-			10,376
TA Aegon Bond Service Class			566,905		-			566,905
TA Aegon Core Bond Service Class			435,610		-			435,610
TA Aegon High Yield Bond Service Class			48,725		-			48,725
TA Aegon Sustainable Equity Income Service Class			438,347		-			438,347
TA Aegon U.S. Government Securities Service Class			847,736		-			847,736
TA BlackRock Government Money Market Service Class			661,872		-			661,872
TA BlackRock iShares Active Asset Allocation - Conservative Service Class			983		-			983
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class			48,178		-			48,178
TA BlackRock iShares Edge 40 Service Class			103,834		-			103,834
TA BlackRock Real Estate Securities Service Class			77,464		-			77,464
TA BlackRock Tactical Allocation Service Class			11,817		-			11,817


See accompanying notes.		4

Transamerica Life Insurance Company

Separate Account VA V

Statements of Assets and Liabilities

December 31, 2023


Subaccount		Net Assets Representing: Accumulation Units		Net Assets Representing: Contracts in Payout (Annuitization) Period			Total Net Assets
TA Goldman Sachs Managed Risk - Balanced ETF Service Class	$		167,258	$	-	$		167,258
TA Goldman Sachs Managed Risk - Conservative ETF Service Class			6,864		-			6,864
TA Goldman Sachs Managed Risk - Growth ETF Service Class			597,266		-			597,266
TA International Focus Service Class			128,926		-			128,926
TA Janus Balanced Service Class			320,843		-			320,843
TA Janus Mid-Cap Growth Service Class			115,433		-			115,433
TA JPMorgan Asset Allocation - Conservative Service Class			3,411,112		-			3,411,112
TA JPMorgan Asset Allocation - Growth Service Class			2,744,457		-			2,744,457
TA JPMorgan Asset Allocation - Moderate Service Class			10,311,101		868,542			11,179,643
TA JPMorgan Asset Allocation - Moderate Growth Service Class			18,644,905		71,748			18,716,653
TA JPMorgan Enhanced Index Service Class			137,240		-			137,240
TA JPMorgan International Moderate Growth Service Class			2,146,135		61,275			2,207,410
TA JPMorgan Tactical Allocation Service Class			60,567		-			60,567
TA Multi-Managed Balanced Service Class			3,868,495		32,072			3,900,567
TA PIMCO Tactical - Balanced Service Class			9,917		-			9,917
TA PIMCO Tactical - Conservative Service Class			-		-			-
TA PIMCO Tactical - Growth Service Class			16,839		-			16,839
TA Small/Mid Cap Value Service Class			570,106		-			570,106
TA T. Rowe Price Small Cap Service Class			575,710		-			575,710
TA WMC US Growth Service Class			1,569,627		-			1,569,627


See accompanying notes.		5

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	AB Balanced Hedged Allocation Class B Shares Subaccount			Fidelity^® VIP Index 500 Service Class 2 Subaccount			Franklin Allocation Class 4 Shares Subaccount			ProFund Access VP High Yield Subaccount

Net Assets as of December 31, 2021:	$	58,443		$	982,990		$	584,091		$	9,758


Investment Income:
Reinvested Dividends		1,519			9,430			6,997			265
Investment Expense:
Mortality and Expense Risk and Administrative Charges		822			13,107			7,378			142

Net Investment Income (Loss)		697			(3,677	)		(381	)		123

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		4,950			6,175			44,099			-
Realized Gain (Loss) on Investments		(406	)		22,395			(146,563	)		(166	)

Net Realized Capital Gains (Losses) on Investments		4,544			28,570			(102,464	)		(166	)
Net Change in Unrealized Appreciation (Depreciation)		(16,915	)		(210,819	)		(7,163	)		(873	)

Net Gain (Loss) on Investment		(12,371	)		(182,249	)		(109,627	)		(1,039	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(11,674	)		(185,926	)		(110,008	)		(916	)


Increase (Decrease) in Net Assets from Contract Transactions		(1,483	)		(75,511	)		(277,570	)		(861	)


Total Increase (Decrease) in Net Assets		(13,157	)		(261,437	)		(387,578	)		(1,777	)


Net Assets as of December 31, 2022:	$	45,286		$	721,553		$	196,513		$	7,981


Investment Income:
Reinvested Dividends		408			8,992			2,627			390
Investment Expense:
Mortality and Expense Risk and Administrative Charges		751			12,460			3,445			129

Net Investment Income (Loss)		(343	)		(3,468	)		(818	)		261

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,336			7,343			3,261			-
Realized Gain (Loss) on Investments		(1,144	)		90,932			(714	)		(193	)

Net Realized Capital Gains (Losses) on Investments		1,192			98,275			2,547			(193	)
Net Change in Unrealized Appreciation (Depreciation)		3,909			64,520			22,035			569

Net Gain (Loss) on Investment		5,101			162,795			24,582			376

Net Increase (Decrease) in Net Assets Resulting from Operations		4,758			159,327			23,764			637


Increase (Decrease) in Net Assets from Contract Transactions		(2,013	)		(120,441	)		(16,865	)		(929	)


Total Increase (Decrease) in Net Assets		2,745			38,886			6,899			(292	)


Net Assets as of December 31, 2023:	$	48,031		$	760,439		$	203,412		$	7,689

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Asia 30 Subaccount			ProFund VP Bull Subaccount			ProFund VP Communication Services Subaccount			ProFund VP Consumer Discretionary Subaccount

Net Assets as of December 31, 2021:	$	15,252		$	223,843		$	11,015		$	294,907


Investment Income:
Reinvested Dividends		10			-			93			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		51			3,131			94			3,733

Net Investment Income (Loss)		(41	)		(3,131	)		(1	)		(3,733	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		246			25,460			-			2,348
Realized Gain (Loss) on Investments		(8,684	)		2,142			265			(2,240	)

Net Realized Capital Gains (Losses) on Investments		(8,438	)		27,602			265			108
Net Change in Unrealized Appreciation (Depreciation)		5,907			(71,347	)		(1,959	)		(91,152	)

Net Gain (Loss) on Investment		(2,531	)		(43,745	)		(1,694	)		(91,044	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(2,572	)		(46,876	)		(1,695	)		(94,777	)


Increase (Decrease) in Net Assets from Contract Transactions		(6,299	)		(3,627	)		(4,846	)		(21,853	)


Total Increase (Decrease) in Net Assets		(8,871	)		(50,503	)		(6,541	)		(116,630	)


Net Assets as of December 31, 2022:	$	6,381		$	173,340		$	4,474		$	178,277


Investment Income:
Reinvested Dividends		1			-			48			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		44			3,126			76			3,413

Net Investment Income (Loss)		(43	)		(3,126	)		(28	)		(3,413	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		53			32,544			-			10,242
Realized Gain (Loss) on Investments		(210	)		2,145			(131	)		(220	)

Net Realized Capital Gains (Losses) on Investments		(157	)		34,689			(131	)		10,022
Net Change in Unrealized Appreciation (Depreciation)		346			5,529			1,359			45,179

Net Gain (Loss) on Investment		189			40,218			1,228			55,201

Net Increase (Decrease) in Net Assets Resulting from Operations		146			37,092			1,200			51,788


Increase (Decrease) in Net Assets from Contract Transactions		(5,628	)		(6,525	)		(1,951	)		(10,104	)


Total Increase (Decrease) in Net Assets		(5,482	)		30,567			(751	)		41,684


Net Assets as of December 31, 2023:	$	899		$	203,907		$	3,723		$	219,961

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Emerging Markets Subaccount			ProFund VP Energy Subaccount			ProFund VP Europe 30 Subaccount			ProFund VP Falling U.S. Dollar Subaccount

Net Assets as of December 31, 2021:	$	31,703		$	41,533		$	12,987		$	4,197


Investment Income:
Reinvested Dividends		93			605			47			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		256			923			57			60

Net Investment Income (Loss)		(163	)		(318	)		(10	)		(60	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			137			-
Realized Gain (Loss) on Investments		(3,393	)		(128	)		(289	)		(74	)

Net Realized Capital Gains (Losses) on Investments		(3,393	)		(128	)		(152	)		(74	)
Net Change in Unrealized Appreciation (Depreciation)		53			24,066			(527	)		(292	)

Net Gain (Loss) on Investment		(3,340	)		23,938			(679	)		(366	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(3,503	)		23,620			(689	)		(426	)


Increase (Decrease) in Net Assets from Contract Transactions		(9,786	)		(957	)		(11,121	)		(110	)


Total Increase (Decrease) in Net Assets		(13,289	)		22,663			(11,810	)		(536	)


Net Assets as of December 31, 2022:	$	18,414		$	64,196		$	1,177		$	3,661


Investment Income:
Reinvested Dividends		234			908			26			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		213			725			56			55

Net Investment Income (Loss)		21			183			(30	)		(55	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			-
Realized Gain (Loss) on Investments		680			(3,098	)		155			(230	)

Net Realized Capital Gains (Losses) on Investments		680			(3,098	)		155			(230	)
Net Change in Unrealized Appreciation (Depreciation)		1,404			883			95			337

Net Gain (Loss) on Investment		2,084			(2,215	)		250			107

Net Increase (Decrease) in Net Assets Resulting from Operations		2,105			(2,032	)		220			52


Increase (Decrease) in Net Assets from Contract Transactions		(8,949	)		(24,032	)		(603	)		(417	)


Total Increase (Decrease) in Net Assets		(6,844	)		(26,064	)		(383	)		(365	)


Net Assets as of December 31, 2023:	$	11,570		$	38,132		$	794		$	3,296

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Financials Subaccount			ProFund VP Government Money Market Subaccount			ProFund VP International Subaccount			ProFund VP Japan Subaccount

Net Assets as of December 31, 2021:	$	46,001		$	217,768		$	12,098		$	-


Investment Income:
Reinvested Dividends		16			2,606			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		393			3,781			137			27

Net Investment Income (Loss)		(377	)		(1,175	)		(137	)		(27	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		207			-			430			129
Realized Gain (Loss) on Investments		(420	)		-			(624	)		(188	)

Net Realized Capital Gains (Losses) on Investments		(213	)		-			(194	)		(59	)
Net Change in Unrealized Appreciation (Depreciation)		(4,063	)		-			(1,914	)		(513	)

Net Gain (Loss) on Investment		(4,276	)		-			(2,108	)		(572	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(4,653	)		(1,175	)		(2,245	)		(599	)


Increase (Decrease) in Net Assets from Contract Transactions		(25,866	)		65,430			8,225			10,959


Total Increase (Decrease) in Net Assets		(30,519	)		64,255			5,980			10,360


Net Assets as of December 31, 2022:	$	15,482		$	282,023		$	18,078		$	10,360


Investment Income:
Reinvested Dividends		73			11,421			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		251			4,582			170			53

Net Investment Income (Loss)		(178	)		6,839			(170	)		(53	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		662			-			-			-
Realized Gain (Loss) on Investments		492			-			262			898

Net Realized Capital Gains (Losses) on Investments		1,154			-			262			898
Net Change in Unrealized Appreciation (Depreciation)		618			-			1,373			513

Net Gain (Loss) on Investment		1,772			-			1,635			1,411

Net Increase (Decrease) in Net Assets Resulting from Operations		1,594			6,839			1,465			1,358


Increase (Decrease) in Net Assets from Contract Transactions		(3,166	)		(7,342	)		(12,849	)		(11,718	)


Total Increase (Decrease) in Net Assets		(1,572	)		(503	)		(11,384	)		(10,360	)


Net Assets as of December 31, 2023:	$	13,910		$	281,520		$	6,694		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Materials Subaccount			ProFund VP Mid-Cap Subaccount			ProFund VP NASDAQ-100 Subaccount			ProFund VP Pharmaceuticals Subaccount

Net Assets as of December 31, 2021:	$	71,909		$	76,814		$	109,655		$	1,990


Investment Income:
Reinvested Dividends		117			-			-			1
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,073			297			529			31

Net Investment Income (Loss)		(956	)		(297	)		(529	)		(30	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		588			3,409			6,878			107
Realized Gain (Loss) on Investments		1,138			(5,388	)		(4,706	)		4

Net Realized Capital Gains (Losses) on Investments		1,726			(1,979	)		2,172			111
Net Change in Unrealized Appreciation (Depreciation)		(8,335	)		(5,568	)		(23,707	)		(234	)

Net Gain (Loss) on Investment		(6,609	)		(7,547	)		(21,535	)		(123	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(7,565	)		(7,844	)		(22,064	)		(153	)


Increase (Decrease) in Net Assets from Contract Transactions		368			(59,257	)		(61,487	)		(3	)


Total Increase (Decrease) in Net Assets		(7,197	)		(67,101	)		(83,551	)		(156	)


Net Assets as of December 31, 2022:	$	64,712		$	9,713		$	26,104		$	1,834


Investment Income:
Reinvested Dividends		155			-			-			9
Investment Expense:
Mortality and Expense Risk and Administrative Charges		681			122			500			21

Net Investment Income (Loss)		(526	)		(122	)		(500	)		(12	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			198			34
Realized Gain (Loss) on Investments		9,554			(422	)		(6,875	)		42

Net Realized Capital Gains (Losses) on Investments		9,554			(422	)		(6,677	)		76
Net Change in Unrealized Appreciation (Depreciation)		(3,772	)		1,173			19,640			(124	)

Net Gain (Loss) on Investment		5,782			751			12,963			(48	)

Net Increase (Decrease) in Net Assets Resulting from Operations		5,256			629			12,463			(60	)


Increase (Decrease) in Net Assets from Contract Transactions		(35,281	)		660			(3,743	)		(1,774	)


Total Increase (Decrease) in Net Assets		(30,025	)		1,289			8,720			(1,834	)


Net Assets as of December 31, 2023:	$	34,687		$	11,002		$	34,824		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Precious Metals Subaccount			ProFund VP Short Emerging Markets Subaccount		ProFund VP Short International Subaccount		ProFund VP Short NASDAQ-100 Subaccount

Net Assets as of December 31, 2021:	$	6,258		$	-	$	-	$	31


Investment Income:
Reinvested Dividends		-			-		-		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		93			-		-		-

Net Investment Income (Loss)		(93	)		-		-		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-		-		-
Realized Gain (Loss) on Investments		181			-		-		-

Net Realized Capital Gains (Losses) on Investments		181			-		-		-
Net Change in Unrealized Appreciation (Depreciation)		(821	)		-		-		11

Net Gain (Loss) on Investment		(640	)		-		-		11

Net Increase (Decrease) in Net Assets Resulting from Operations		(733	)		-		-		11


Increase (Decrease) in Net Assets from Contract Transactions		(374	)		-		-		(1	)


Total Increase (Decrease) in Net Assets		(1,107	)		-		-		10


Net Assets as of December 31, 2022:	$	5,151		$	-	$	-	$	41


Investment Income:
Reinvested Dividends		-			-		-		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		85			-		-		-

Net Investment Income (Loss)		(85	)		-		-		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-		-		-
Realized Gain (Loss) on Investments		34			-		-		-

Net Realized Capital Gains (Losses) on Investments		34			-		-		-
Net Change in Unrealized Appreciation (Depreciation)		43			-		-		(13	)

Net Gain (Loss) on Investment		77			-		-		(13	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(8	)		-		-		(13	)


Increase (Decrease) in Net Assets from Contract Transactions		(41	)		-		-		(1	)


Total Increase (Decrease) in Net Assets		(49	)		-		-		(14	)


Net Assets as of December 31, 2023:	$	5,102		$	-	$	-	$	27

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Short Small-Cap Subaccount		ProFund VP Small-Cap Subaccount			ProFund VP Small-Cap Value Subaccount			ProFund VP U.S. Government Plus Subaccount

Net Assets as of December 31, 2021:	$	-	$	56,540		$	11,309		$	31,975


Investment Income:
Reinvested Dividends		-		-			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		123			291			372

Net Investment Income (Loss)		-		(123	)		(291	)		(372	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		488			3,773			-
Realized Gain (Loss) on Investments		-		(10,012	)		(2,795	)		(1,218	)

Net Realized Capital Gains (Losses) on Investments		-		(9,524	)		978			(1,218	)
Net Change in Unrealized Appreciation (Depreciation)		-		2,763			(2,408	)		(11,449	)

Net Gain (Loss) on Investment		-		(6,761	)		(1,430	)		(12,667	)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(6,884	)		(1,721	)		(13,039	)


Increase (Decrease) in Net Assets from Contract Transactions		-		(47,549	)		(1,319	)		(1,579	)


Total Increase (Decrease) in Net Assets		-		(54,433	)		(3,040	)		(14,618	)


Net Assets as of December 31, 2022:	$	-	$	2,107		$	8,269		$	17,357


Investment Income:
Reinvested Dividends		-		-			1			675
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		32			108			271

Net Investment Income (Loss)		-		(32	)		(107	)		404

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-			309			-
Realized Gain (Loss) on Investments		-		(37	)		(23	)		(1,785	)

Net Realized Capital Gains (Losses) on Investments		-		(37	)		286			(1,785	)
Net Change in Unrealized Appreciation (Depreciation)		-		340			635			1,136

Net Gain (Loss) on Investment		-		303			921			(649	)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		271			814			(245	)


Increase (Decrease) in Net Assets from Contract Transactions		-		(102	)		11,490			(971	)


Total Increase (Decrease) in Net Assets		-		169			12,304			(1,216	)


Net Assets as of December 31, 2023:	$	-	$	2,276		$	20,573		$	16,141

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP UltraSmall-Cap Subaccount		ProFund VP Utilities Subaccount			TA Aegon Bond Service Class Subaccount			TA Aegon Core Bond Service Class Subaccount

Net Assets as of December 31, 2021:	$	-	$	14,893		$	762,692		$	568,371


Investment Income:
Reinvested Dividends		-		144			16,170			10,467
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		231			10,340			7,496

Net Investment Income (Loss)		-		(87	)		5,830			2,971

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		157			-			1,876
Realized Gain (Loss) on Investments		-		(93	)		(18,657	)		(16,141	)

Net Realized Capital Gains (Losses) on Investments		-		64			(18,657	)		(14,265	)
Net Change in Unrealized Appreciation (Depreciation)		-		(244	)		(113,348	)		(64,609	)

Net Gain (Loss) on Investment		-		(180	)		(132,005	)		(78,874	)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(267	)		(126,175	)		(75,903	)


Increase (Decrease) in Net Assets from Contract Transactions		-		(407	)		(21,190	)		(87,254	)


Total Increase (Decrease) in Net Assets		-		(674	)		(147,365	)		(163,157	)


Net Assets as of December 31, 2022:	$	-	$	14,219		$	615,327		$	405,214


Investment Income:
Reinvested Dividends		-		182			3,642			9,600
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		213			8,800			6,865

Net Investment Income (Loss)		-		(31	)		(5,158	)		2,735

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-			-			-
Realized Gain (Loss) on Investments		-		(374	)		(41,232	)		(4,429	)

Net Realized Capital Gains (Losses) on Investments		-		(374	)		(41,232	)		(4,429	)
Net Change in Unrealized Appreciation (Depreciation)		-		(1,070	)		72,653			18,395

Net Gain (Loss) on Investment		-		(1,444	)		31,421			13,966

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(1,475	)		26,263			16,701


Increase (Decrease) in Net Assets from Contract Transactions		-		(2,368	)		(74,685	)		13,695


Total Increase (Decrease) in Net Assets		-		(3,843	)		(48,422	)		30,396


Net Assets as of December 31, 2023:	$	-	$	10,376		$	566,905		$	435,610

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA Aegon High Yield Bond Service Class Subaccount			TA Aegon Sustainable Equity Income Service Class Subaccount			TA Aegon U.S. Government Securities Service Class Subaccount			TA BlackRock Government Money Market Service Class Subaccount

Net Assets as of December 31, 2021:	$	98,644		$	670,046		$	280,120		$	559,277


Investment Income:
Reinvested Dividends		2,904			9,942			7,626			10,673
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,027			8,634			12,363			10,938

Net Investment Income (Loss)		1,877			1,308			(4,737	)		(265	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			18,778			-			-
Realized Gain (Loss) on Investments		(1,907	)		(19,802	)		(33,358	)		-

Net Realized Capital Gains (Losses) on Investments		(1,907	)		(1,024	)		(33,358	)		-
Net Change in Unrealized Appreciation (Depreciation)		(9,888	)		(87,186	)		(61,828	)		-

Net Gain (Loss) on Investment		(11,795	)		(88,210	)		(95,186	)		-

Net Increase (Decrease) in Net Assets Resulting from Operations		(9,918	)		(86,902	)		(99,923	)		(265	)


Increase (Decrease) in Net Assets from Contract Transactions		(39,418	)		(79,732	)		778,186			167,344


Total Increase (Decrease) in Net Assets		(49,336	)		(166,634	)		678,263			167,079


Net Assets as of December 31, 2022:	$	49,308		$	503,412		$	958,383		$	726,356


Investment Income:
Reinvested Dividends		2,000			8,489			12,551			35,454
Investment Expense:
Mortality and Expense Risk and Administrative Charges		824			7,142			14,019			11,611

Net Investment Income (Loss)		1,176			1,347			(1,468	)		23,843

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			-
Realized Gain (Loss) on Investments		(1,029	)		(5,995	)		(33,491	)		-

Net Realized Capital Gains (Losses) on Investments		(1,029	)		(5,995	)		(33,491	)		-
Net Change in Unrealized Appreciation (Depreciation)		4,034			21,756			55,437			-

Net Gain (Loss) on Investment		3,005			15,761			21,946			-

Net Increase (Decrease) in Net Assets Resulting from Operations		4,181			17,108			20,478			23,843


Increase (Decrease) in Net Assets from Contract Transactions		(4,764	)		(82,173	)		(131,125	)		(88,327	)


Total Increase (Decrease) in Net Assets		(583	)		(65,065	)		(110,647	)		(64,484	)


Net Assets as of December 31, 2023:	$	48,725		$	438,347		$	847,736		$	661,872

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA BlackRock iShares Active Asset Allocation - Conservative Service Class Subaccount			TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class Subaccount			TA BlackRock iShares Edge 40 Service Class Subaccount			TA BlackRock Real Estate Securities Service Class Subaccount

Net Assets as of December 31, 2021:	$	35,427		$	60,873		$	153,211		$	119,202


Investment Income:
Reinvested Dividends		1,163			720			1,784			2,832
Investment Expense:
Mortality and Expense Risk and Administrative Charges		851			816			1,796			1,587

Net Investment Income (Loss)		312			(96	)		(12	)		1,245

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		11,924			2,470			4,658			-
Realized Gain (Loss) on Investments		(6,500	)		(1,676	)		2,642			(975	)

Net Realized Capital Gains (Losses) on Investments		5,424			794			7,300			(975	)
Net Change in Unrealized Appreciation (Depreciation)		(11,881	)		(13,131	)		(28,509	)		(35,716	)

Net Gain (Loss) on Investment		(6,457	)		(12,337	)		(21,209	)		(36,691	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(6,145	)		(12,433	)		(21,221	)		(35,446	)


Increase (Decrease) in Net Assets from Contract Transactions		17,868			2,077			(27,471	)		(2,300	)


Total Increase (Decrease) in Net Assets		11,723			(10,356	)		(48,692	)		(37,746	)


Net Assets as of December 31, 2022:	$	47,150		$	50,517		$	104,519		$	81,456


Investment Income:
Reinvested Dividends		14			663			2,028			4,001
Investment Expense:
Mortality and Expense Risk and Administrative Charges		316			699			1,578			1,223

Net Investment Income (Loss)		(302	)		(36	)		450			2,778

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			1,583			-
Realized Gain (Loss) on Investments		(5,754	)		(2,933	)		(510	)		(5,098	)

Net Realized Capital Gains (Losses) on Investments		(5,754	)		(2,933	)		1,073			(5,098	)
Net Change in Unrealized Appreciation (Depreciation)		8,289			10,102			5,788			10,492

Net Gain (Loss) on Investment		2,535			7,169			6,861			5,394

Net Increase (Decrease) in Net Assets Resulting from Operations		2,233			7,133			7,311			8,172


Increase (Decrease) in Net Assets from Contract Transactions		(48,400	)		(9,472	)		(7,996	)		(12,164	)


Total Increase (Decrease) in Net Assets		(46,167	)		(2,339	)		(685	)		(3,992	)


Net Assets as of December 31, 2023:	$	983		$	48,178		$	103,834		$	77,464

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA BlackRock Tactical Allocation Service Class Subaccount			TA Goldman Sachs Managed Risk - Balanced ETF Service Class Subaccount			TA Goldman Sachs Managed Risk - Conservative ETF Service Class Subaccount			TA Goldman Sachs Managed Risk - Growth ETF Service Class Subaccount

Net Assets as of December 31, 2021:	$	300,287		$	216,019		$	8,247		$	1,354,559


Investment Income:
Reinvested Dividends		9,571			2,738			113			15,668
Investment Expense:
Mortality and Expense Risk and Administrative Charges		3,855			2,943			116			16,345

Net Investment Income (Loss)		5,716			(205	)		(3	)		(677	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		22,104			4,566			105			65,816
Realized Gain (Loss) on Investments		(483	)		2,706			(36	)		(5,706	)

Net Realized Capital Gains (Losses) on Investments		21,621			7,272			69			60,110
Net Change in Unrealized Appreciation (Depreciation)		(79,474	)		(40,020	)		(1,148	)		(276,163	)

Net Gain (Loss) on Investment		(57,853	)		(32,748	)		(1,079	)		(216,053	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(52,137	)		(32,953	)		(1,082	)		(216,730	)


Increase (Decrease) in Net Assets from Contract Transactions		(2,548	)		(16,717	)		(468	)		(316,674	)


Total Increase (Decrease) in Net Assets		(54,685	)		(49,670	)		(1,550	)		(533,404	)


Net Assets as of December 31, 2022:	$	245,602		$	166,349		$	6,697		$	821,155


Investment Income:
Reinvested Dividends		276			2,462			117			8,213
Investment Expense:
Mortality and Expense Risk and Administrative Charges		336			2,670			109			9,818

Net Investment Income (Loss)		(60	)		(208	)		8			(1,605	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		409			11,377			312			15,030
Realized Gain (Loss) on Investments		(44,041	)		1,418			(37	)		14,881

Net Realized Capital Gains (Losses) on Investments		(43,632	)		12,795			275			29,911
Net Change in Unrealized Appreciation (Depreciation)		53,763			5,262			286			76,527

Net Gain (Loss) on Investment		10,131			18,057			561			106,438

Net Increase (Decrease) in Net Assets Resulting from Operations		10,071			17,849			569			104,833


Increase (Decrease) in Net Assets from Contract Transactions		(243,856	)		(16,940	)		(402	)		(328,722	)


Total Increase (Decrease) in Net Assets		(233,785	)		909			167			(223,889	)


Net Assets as of December 31, 2023:	$	11,817		$	167,258		$	6,864		$	597,266

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA International Focus Service Class Subaccount			TA Janus Balanced Service Class Subaccount			TA Janus Mid-Cap Growth Service Class Subaccount			TA JPMorgan Asset Allocation - Conservative Service Class Subaccount

Net Assets as of December 31, 2021:	$	278,822		$	265,867		$	123,207		$	4,933,396


Investment Income:
Reinvested Dividends		4,958			2,696			-			222,682
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,979			4,988			1,623			63,327

Net Investment Income (Loss)		1,979			(2,292	)		(1,623	)		159,355

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		9,666			38,278			16,032			388,392
Realized Gain (Loss) on Investments		3,475			222			87			(158,818	)

Net Realized Capital Gains (Losses) on Investments		13,141			38,500			16,119			229,574
Net Change in Unrealized Appreciation (Depreciation)		(68,935	)		(98,054	)		(37,443	)		(1,197,567	)

Net Gain (Loss) on Investment		(55,794	)		(59,554	)		(21,324	)		(967,993	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(53,815	)		(61,846	)		(22,947	)		(808,638	)


Increase (Decrease) in Net Assets from Contract Transactions		(62,122	)		94,113			(10,534	)		(742,750	)


Total Increase (Decrease) in Net Assets		(115,937	)		32,267			(33,481	)		(1,551,388	)


Net Assets as of December 31, 2022:	$	162,885		$	298,134		$	89,726		$	3,382,008


Investment Income:
Reinvested Dividends		2,252			3,492			-			68,323
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,213			4,959			1,719			53,271

Net Investment Income (Loss)		39			(1,467	)		(1,719	)		15,052

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			8,988			20,412			-
Realized Gain (Loss) on Investments		(2,515	)		(365	)		(9,555	)		(152,228	)

Net Realized Capital Gains (Losses) on Investments		(2,515	)		8,623			10,857			(152,228	)
Net Change in Unrealized Appreciation (Depreciation)		17,642			31,154			4,612			305,599

Net Gain (Loss) on Investment		15,127			39,777			15,469			153,371

Net Increase (Decrease) in Net Assets Resulting from Operations		15,166			38,310			13,750			168,423


Increase (Decrease) in Net Assets from Contract Transactions		(49,125	)		(15,601	)		11,957			(139,319	)


Total Increase (Decrease) in Net Assets		(33,959	)		22,709			25,707			29,104


Net Assets as of December 31, 2023:	$	128,926		$	320,843		$	115,433		$	3,411,112

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA JPMorgan Asset Allocation - Growth Service Class Subaccount			TA JPMorgan Asset Allocation - Moderate Service Class Subaccount			TA JPMorgan Asset Allocation - Moderate Growth Service Class Subaccount			TA JPMorgan Enhanced Index Service Class Subaccount

Net Assets as of December 31, 2021:	$	3,570,562		$	16,572,035		$	29,292,618		$	161,203


Investment Income:
Reinvested Dividends		157,930			684,467			1,187,119			554
Investment Expense:
Mortality and Expense Risk and Administrative Charges		42,704			214,825			364,987			2,247

Net Investment Income (Loss)		115,226			469,642			822,132			(1,693	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		557,784			1,341,944			3,219,746			16,476
Realized Gain (Loss) on Investments		(5,577	)		(220,688	)		(141,352	)		2,876

Net Realized Capital Gains (Losses) on Investments		552,207			1,121,256			3,078,394			19,352
Net Change in Unrealized Appreciation (Depreciation)		(1,514,694	)		(4,415,645	)		(9,203,450	)		(49,841	)

Net Gain (Loss) on Investment		(962,487	)		(3,294,389	)		(6,125,056	)		(30,489	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(847,261	)		(2,824,747	)		(5,302,924	)		(32,182	)


Increase (Decrease) in Net Assets from Contract Transactions		(256,165	)		(1,710,134	)		(3,646,459	)		(4,400	)


Total Increase (Decrease) in Net Assets		(1,103,426	)		(4,534,881	)		(8,949,383	)		(36,582	)


Net Assets as of December 31, 2022:	$	2,467,136		$	12,037,154		$	20,343,235		$	124,621


Investment Income:
Reinvested Dividends		37,645			207,510			334,779			744
Investment Expense:
Mortality and Expense Risk and Administrative Charges		38,910			176,359			302,454			2,159

Net Investment Income (Loss)		(1,265	)		31,151			32,325			(1,415	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		36,246			86,710			865,869			5,994
Realized Gain (Loss) on Investments		(53,648	)		(230,619	)		(933,779	)		3,378

Net Realized Capital Gains (Losses) on Investments		(17,402	)		(143,909	)		(67,910	)		9,372
Net Change in Unrealized Appreciation (Depreciation)		452,097			883,898			1,877,593			21,628

Net Gain (Loss) on Investment		434,695			739,989			1,809,683			31,000

Net Increase (Decrease) in Net Assets Resulting from Operations		433,430			771,140			1,842,008			29,585


Increase (Decrease) in Net Assets from Contract Transactions		(156,109	)		(1,628,651	)		(3,468,590	)		(16,966	)


Total Increase (Decrease) in Net Assets		277,321			(857,511	)		(1,626,582	)		12,619


Net Assets as of December 31, 2023:	$	2,744,457		$	11,179,643		$	18,716,653		$	137,240

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA JPMorgan International Moderate Growth Service Class Subaccount			TA JPMorgan Tactical Allocation Service Class Subaccount			TA Multi-Managed Balanced Service Class Subaccount			TA PIMCO Tactical - Balanced Service Class Subaccount

Net Assets as of December 31, 2021:	$	3,718,149		$	108,861		$	6,581,857		$	16,621


Investment Income:
Reinvested Dividends		144,807			1,296			47,345			72
Investment Expense:
Mortality and Expense Risk and Administrative Charges		46,703			1,393			81,150			191

Net Investment Income (Loss)		98,104			(97	)		(33,805	)		(119	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		253,873			8,814			623,986			1,210
Realized Gain (Loss) on Investments		44,581			(2,232	)		88,845			(322	)

Net Realized Capital Gains (Losses) on Investments		298,454			6,582			712,831			888
Net Change in Unrealized Appreciation (Depreciation)		(1,080,890	)		(23,870	)		(1,790,081	)		(4,083	)

Net Gain (Loss) on Investment		(782,436	)		(17,288	)		(1,077,250	)		(3,195	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(684,332	)		(17,385	)		(1,111,055	)		(3,314	)


Increase (Decrease) in Net Assets from Contract Transactions		(411,866	)		(11,885	)		(881,251	)		(2,131	)


Total Increase (Decrease) in Net Assets		(1,096,198	)		(29,270	)		(1,992,306	)		(5,445	)


Net Assets as of December 31, 2022:	$	2,621,951		$	79,591		$	4,589,551		$	11,176


Investment Income:
Reinvested Dividends		32,694			1,304			51,218			105
Investment Expense:
Mortality and Expense Risk and Administrative Charges		37,419			1,115			65,063			151

Net Investment Income (Loss)		(4,725	)		189			(13,845	)		(46	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			130,999			-
Realized Gain (Loss) on Investments		(37,026	)		(13,250	)		73,355			(708	)

Net Realized Capital Gains (Losses) on Investments		(37,026	)		(13,250	)		204,354			(708	)
Net Change in Unrealized Appreciation (Depreciation)		195,630			16,625			475,936			1,644

Net Gain (Loss) on Investment		158,604			3,375			680,290			936

Net Increase (Decrease) in Net Assets Resulting from Operations		153,879			3,564			666,445			890


Increase (Decrease) in Net Assets from Contract Transactions		(568,420	)		(22,588	)		(1,355,429	)		(2,149	)


Total Increase (Decrease) in Net Assets		(414,541	)		(19,024	)		(688,984	)		(1,259	)


Net Assets as of December 31, 2023:	$	2,207,410		$	60,567		$	3,900,567		$	9,917

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA PIMCO Tactical - Conservative Service Class Subaccount			TA PIMCO Tactical - Growth Service Class Subaccount			TA Small/Mid Cap Value Service Class Subaccount			TA T. Rowe Price Small Cap Service Class Subaccount

Net Assets as of December 31, 2021:	$	36,375		$	24,332		$	762,011		$	696,999


Investment Income:
Reinvested Dividends		322			-			2,033			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		557			344			10,311			9,167

Net Investment Income (Loss)		(235	)		(344	)		(8,278	)		(9,167)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		1,767			2,747			95,904			208,451
Realized Gain (Loss) on Investments		(320	)		(377	)		23,443			(34,891)

Net Realized Capital Gains (Losses) on Investments		1,447			2,370			119,347			173,560
Net Change in Unrealized Appreciation (Depreciation)		(7,864	)		(6,671	)		(181,465	)		(331,384)

Net Gain (Loss) on Investment		(6,417	)		(4,301	)		(62,118	)		(157,824)

Net Increase (Decrease) in Net Assets Resulting from Operations		(6,652	)		(4,645	)		(70,396	)		(166,991)


Increase (Decrease) in Net Assets from Contract Transactions		(1,865	)		(1,511	)		(126,294	)		(29,732)


Total Increase (Decrease) in Net Assets		(8,517	)		(6,156	)		(196,690	)		(196,723)


Net Assets as of December 31, 2022:	$	27,858		$	18,176		$	565,321		$	500,276


Investment Income:
Reinvested Dividends		-			161			4,457			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		290			304			8,885			8,946

Net Investment Income (Loss)		(290	)		(143	)		(4,428	)		(8,946)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			54,492			25,188
Realized Gain (Loss) on Investments		(4,876	)		(743	)		(7,657	)		(16,257)

Net Realized Capital Gains (Losses) on Investments		(4,876	)		(743	)		46,835			8,931
Net Change in Unrealized Appreciation (Depreciation)		6,309			2,981			11,292			91,413

Net Gain (Loss) on Investment		1,433			2,238			58,127			100,344

Net Increase (Decrease) in Net Assets Resulting from Operations		1,143			2,095			53,699			91,398


Increase (Decrease) in Net Assets from Contract Transactions		(29,001	)		(3,432	)		(48,914	)		(15,964)


Total Increase (Decrease) in Net Assets		(27,858	)		(1,337	)		4,785			75,434


Net Assets as of December 31, 2023:	$	-		$	16,839		$	570,106		$	575,710

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA WMC US Growth Service Class Subaccount

Net Assets as of December 31, 2021:	$	1,612,743


Investment Income:
Reinvested Dividends		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		19,240

Net Investment Income (Loss)		(19,240)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		204,608
Realized Gain (Loss) on Investments		40,002

Net Realized Capital Gains (Losses) on Investments		244,610
Net Change in Unrealized Appreciation (Depreciation)		(728,349)

Net Gain (Loss) on Investment		(483,739)

Net Increase (Decrease) in Net Assets Resulting from Operations		(502,979)


Increase (Decrease) in Net Assets from Contract Transactions		(113,528)


Total Increase (Decrease) in Net Assets		(616,507)


Net Assets as of December 31, 2022:	$	996,236


Investment Income:
Reinvested Dividends		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		21,553

Net Investment Income (Loss)		(21,553)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		41,452
Realized Gain (Loss) on Investments		15,880

Net Realized Capital Gains (Losses) on Investments		57,332
Net Change in Unrealized Appreciation (Depreciation)		392,517

Net Gain (Loss) on Investment		449,849

Net Increase (Decrease) in Net Assets Resulting from Operations		428,296


Increase (Decrease) in Net Assets from Contract Transactions		145,095


Total Increase (Decrease) in Net Assets		573,391


Net Assets as of December 31, 2023:	$	1,569,627

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

1. Organization

Separate Account VA V (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of Aegon N.V., a holding company organized under the laws of the Netherlands.

The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. TLIC and the Separate Account are regulated by the Securities and Exchange Commission. The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC’s other assets and liabilities. The Separate Account consists of multiple investment subaccounts. Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund. Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specified investment subaccounts is available to contract owners of WRL Freedom Multiple Variable Annuity.

Subaccount Investment by Mutual Fund:


Subaccount		Mutual Fund

AB Variable Products Series Fund, Inc.		AB Variable Products Series Fund, Inc.
AB Balanced Hedged Allocation Class B Shares		AB Balanced Hedged Allocation Portfolio Class B Shares

Fidelity^® Variable Insurance Products Fund		Fidelity^® Variable Insurance Products Fund
Fidelity^® VIP Index 500 Service Class 2		Fidelity^® VIP Index 500 Portfolio Service Class 2

Franklin Templeton Variable Insurance Products Trust		Franklin Templeton Variable Insurance Products Trust
Franklin Allocation Class 4 Shares		Franklin Allocation Fund Class 4 Shares

Profunds		Profunds
ProFund Access VP High Yield		ProFund Access VP High Yield
ProFund VP Asia 30		ProFund VP Asia 30
ProFund VP Bull		ProFund VP Bull
ProFund VP Communication Services		ProFund VP Communication Services
ProFund VP Consumer Discretionary		ProFund VP Consumer Discretionary
ProFund VP Emerging Markets		ProFund VP Emerging Markets
ProFund VP Energy		ProFund VP Energy
ProFund VP Europe 30		ProFund VP Europe 30
ProFund VP Falling U.S. Dollar		ProFund VP Falling U.S. Dollar
ProFund VP Financials		ProFund VP Financials
ProFund VP Government Money Market		ProFund VP Government Money Market
ProFund VP International		ProFund VP International
ProFund VP Japan		ProFund VP Japan
ProFund VP Materials		ProFund VP Materials
ProFund VP Mid-Cap		ProFund VP Mid-Cap
ProFund VP NASDAQ-100		ProFund VP NASDAQ-100
ProFund VP Pharmaceuticals		ProFund VP Pharmaceuticals
ProFund VP Precious Metals		ProFund VP Precious Metals
ProFund VP Short Emerging Markets		ProFund VP Short Emerging Markets
ProFund VP Short International		ProFund VP Short International
ProFund VP Short NASDAQ-100		ProFund VP Short NASDAQ-100
ProFund VP Short Small-Cap		ProFund VP Short Small-Cap
ProFund VP Small-Cap		ProFund VP Small-Cap
ProFund VP Small-Cap Value		ProFund VP Small-Cap Value
ProFund VP U.S. Government Plus		ProFund VP U.S. Government Plus
ProFund VP UltraSmall-Cap		ProFund VP UltraSmall-Cap
ProFund VP Utilities		ProFund VP Utilities

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

1. Organization (continued)

Subaccount Investment by Mutual Fund:


Subaccount		Mutual Fund

Transamerica Series Trust		Transamerica Series Trust
TA Aegon Bond Service Class		Transamerica Aegon Bond VP Service Class
TA Aegon Core Bond Service Class		Transamerica Aegon Core Bond VP Service Class
TA Aegon High Yield Bond Service Class		Transamerica Aegon High Yield Bond VP Service Class
TA Aegon Sustainable Equity Income Service Class		Transamerica Aegon Sustainable Equity Income VP Service Class
TA Aegon U.S. Government Securities Service Class		Transamerica Aegon U.S. Government Securities VP Service Class
TA BlackRock Government Money Market Service Class		Transamerica BlackRock Government Money Market VP Service Class
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		Transamerica BlackRock iShares Active Asset Allocation - Conservative VP Service Class
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		Transamerica BlackRock iShares Active Asset Allocation - Moderate Growth VP Service Class
TA BlackRock iShares Edge 40 Service Class		Transamerica BlackRock iShares Edge 40 VP Service Class
TA BlackRock Real Estate Securities Service Class		Transamerica BlackRock Real Estate Securities VP Service Class
TA BlackRock Tactical Allocation Service Class		Transamerica BlackRock Tactical Allocation VP Service Class
TA Goldman Sachs Managed Risk - Balanced ETF Service Class		Transamerica Goldman Sachs Managed Risk - Balanced ETF VP Service Class
TA Goldman Sachs Managed Risk - Conservative ETF Service Class		Transamerica Goldman Sachs Managed Risk - Conservative ETF VP Service Class
TA Goldman Sachs Managed Risk - Growth ETF Service Class		Transamerica Goldman Sachs Managed Risk - Growth ETF VP Service Class
TA International Focus Service Class		Transamerica International Focus VP Service Class
TA Janus Balanced Service Class		Transamerica Janus Balanced VP Service Class
TA Janus Mid-Cap Growth Service Class		Transamerica Janus Mid-Cap Growth VP Service Class
TA JPMorgan Asset Allocation - Conservative Service Class		Transamerica JPMorgan Asset Allocation - Conservative VP Service Class
TA JPMorgan Asset Allocation - Growth Service Class		Transamerica JPMorgan Asset Allocation - Growth VP Service Class
TA JPMorgan Asset Allocation - Moderate Service Class		Transamerica JPMorgan Asset Allocation - Moderate VP Service Class
TA JPMorgan Asset Allocation - Moderate Growth Service Class		Transamerica JPMorgan Asset Allocation - Moderate Growth VP Service Class
TA JPMorgan Enhanced Index Service Class		Transamerica JPMorgan Enhanced Index VP Service Class
TA JPMorgan International Moderate Growth Service Class		Transamerica JPMorgan International Moderate Growth VP Service Class
TA JPMorgan Tactical Allocation Service Class		Transamerica JPMorgan Tactical Allocation VP Service Class
TA Multi-Managed Balanced Service Class		Transamerica Multi-Managed Balanced VP Service Class
TA PIMCO Tactical - Balanced Service Class		Transamerica PIMCO Tactical - Balanced VP Service Class
TA PIMCO Tactical - Conservative Service Class		Transamerica PIMCO Tactical - Conservative VP Service Class
TA PIMCO Tactical - Growth Service Class		Transamerica PIMCO Tactical - Growth VP Service Class
TA Small/Mid Cap Value Service Class		Transamerica Small/Mid Cap Value VP Service Class
TA T. Rowe Price Small Cap Service Class		Transamerica T. Rowe Price Small Cap VP Service Class
TA WMC US Growth Service Class		Transamerica WMC US Growth VP Service Class

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

1. Organization (continued)

The following subaccount name changes were made effective during the fiscal year ended December 31, 2023:


Subaccount		Formerly

ProFund VP Communication Services		ProFund VP Telecommunications
ProFund VP Consumer Discretionary		ProFund VP Consumer Services
ProFund VP Energy		ProFund VP Oil & Gas
ProFund VP Materials		ProFund VP Basic Materials
TA BlackRock Real Estate Securities Service Class		TA BlackRock Global Real Estate Securities Service Class

During the current year the following subaccounts were removed as available investment options to contract owners and subsequently replaced and reinvested:


Reinvested Subaccount		Removed Subaccount

TA WMC US Growth Service Class		TA Morgan Stanley Capital Growth Service Class

The transfers from the removed and liquidated subaccounts to the reinvested subaccounts for the period ended December 31, 2023 are reflected in the Statements of Changes in Net Assets within Increase (Decrease) in Net Assets from Contract Transactions and purchases and sales in Footnote 3.

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

2. Summary of Significant Accounting Policies

The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities. Actual results could differ from those estimates.

Investments

Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2023.

Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets.

Dividend Income

Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares.

Fair Value Measurements and Fair Value Hierarchy

The Accounting Standards Codification^™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.

The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) 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 instrument.

Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows:

Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.

Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

a) Quoted prices for similar assets or liabilities in active markets

b) Quoted prices for identical or similar assets or liabilities in non-active markets

c) Inputs other than quoted market prices that are observable

d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means.

Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.

All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1.

There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2023.

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

3. Investments

The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2023 were as follows:


Subaccount	Purchases		Sales

AB Balanced Hedged Allocation Class B Shares	$	3,399	$	3,418

Fidelity^® VIP Index 500 Service Class 2		23,488		140,021

Franklin Allocation Class 4 Shares		5,889		20,315

ProFund Access VP High Yield		390		1,056

ProFund VP Asia 30		9,288		14,902

ProFund VP Bull		32,544		9,653

ProFund VP Communication Services		48		2,026

ProFund VP Consumer Discretionary		15,325		18,599

ProFund VP Emerging Markets		8,831		17,759

ProFund VP Energy		908		24,756

ProFund VP Europe 30		25,656		26,289

ProFund VP Falling U.S. Dollar		-		473

ProFund VP Financials		783		3,463

ProFund VP Government Money Market		11,422		11,904

ProFund VP International		14,729		27,748

ProFund VP Japan		14,437		26,207

ProFund VP Materials		155		35,971

ProFund VP Mid-Cap		8,828		8,290

ProFund VP NASDAQ-100		21,463		25,499

ProFund VP Pharmaceuticals		43		1,795

ProFund VP Precious Metals		-		124

ProFund VP Short Emerging Markets		-		-

ProFund VP Short International		-		-

ProFund VP Short NASDAQ-100		-		1

ProFund VP Short Small-Cap		-		-

ProFund VP Small-Cap		-		134

ProFund VP Small-Cap Value		13,689		1,995

ProFund VP U.S. Government Plus		675		1,243

ProFund VP UltraSmall-Cap		-		-

ProFund VP Utilities		2,881		5,278

TA Aegon Bond Service Class		90,130		169,974

TA Aegon Core Bond Service Class		35,408		18,980

TA Aegon High Yield Bond Service Class		18,944		22,532

TA Aegon Sustainable Equity Income Service Class		35,113		115,939

TA Aegon U.S. Government Securities Service Class		118,680		251,275

TA BlackRock Government Money Market Service Class		879,163		943,612

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

3. Investments (continued)


Subaccount	Purchases		Sales

TA BlackRock iShares Active Asset Allocation - Conservative Service Class	$	14	$	48,717

TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		1,013		10,522

TA BlackRock iShares Edge 40 Service Class		3,619		9,582

TA BlackRock Real Estate Securities Service Class		5,144		14,530

TA BlackRock Tactical Allocation Service Class		685		244,193

TA Goldman Sachs Managed Risk - Balanced ETF Service Class		14,202		19,973

TA Goldman Sachs Managed Risk - Conservative ETF Service Class		429		512

TA Goldman Sachs Managed Risk - Growth ETF Service Class		23,791		339,086

TA International Focus Service Class		5,793		54,878

TA Janus Balanced Service Class		23,131		31,212

TA Janus Mid-Cap Growth Service Class		64,656		34,009

TA JPMorgan Asset Allocation - Conservative Service Class		439,619		563,879

TA JPMorgan Asset Allocation - Growth Service Class		132,885		253,987

TA JPMorgan Asset Allocation - Moderate Service Class		308,020		1,818,803

TA JPMorgan Asset Allocation - Moderate Growth Service Class		1,312,008		3,882,321

TA JPMorgan Enhanced Index Service Class		29,123		41,505

TA JPMorgan International Moderate Growth Service Class		85,526		658,668

TA JPMorgan Tactical Allocation Service Class		15,134		37,534

TA Multi-Managed Balanced Service Class		195,117		1,433,398

TA PIMCO Tactical - Balanced Service Class		105		2,301

TA PIMCO Tactical - Conservative Service Class		1		29,291

TA PIMCO Tactical - Growth Service Class		161		3,736

TA Small/Mid Cap Value Service Class		69,748		68,596

TA T. Rowe Price Small Cap Service Class		60,558		60,277

TA WMC US Growth Service Class		294,909		129,919

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

4. Change in Units

The change in units outstanding were as follows:


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)

AB Balanced Hedged Allocation Class B Shares		331		(1,280	)		(949	)		477		(1,055	)		(578	)

Fidelity^® VIP Index 500 Service Class 2		1,748		(32,962	)		(31,214	)		2,651		(21,609	)		(18,958	)

Franklin Allocation Class 4 Shares		-		(7,453	)		(7,453	)		4,401		(137,273	)		(132,872	)

ProFund Access VP High Yield		-		(557	)		(557	)		-		(527	)		(527	)

ProFund VP Asia 30		11,191		(18,065	)		(6,874	)		10,966		(17,190	)		(6,224	)

ProFund VP Bull		-		(2,894	)		(2,894	)		-		(1,667	)		(1,667	)

ProFund VP Communication Services		-		(1,753	)		(1,753	)		59		(4,384	)		(4,325	)

ProFund VP Consumer Discretionary		1,716		(5,331	)		(3,615	)		-		(8,244	)		(8,244	)

ProFund VP Emerging Markets		11,542		(23,150	)		(11,608	)		13,225		(24,410	)		(11,185	)

ProFund VP Energy		-		(22,865	)		(22,865	)		-		(880	)		(880	)

ProFund VP Europe 30		26,917		(27,465	)		(548	)		10,977		(22,837	)		(11,860	)

ProFund VP Falling U.S. Dollar		-		(871	)		(871	)		-		(224	)		(224	)

ProFund VP Financials		37		(2,695	)		(2,658	)		3,327		(22,593	)		(19,266	)

ProFund VP Government Money Market		-		(9,120	)		(9,120	)		83,865		(5,510	)		78,355

ProFund VP International		18,292		(34,894	)		(16,602	)		14,297		(3,243	)		11,054

ProFund VP Japan		11,931		(22,421	)		(10,490	)		21,251		(10,761	)		10,490

ProFund VP Materials		-		(21,351	)		(21,351	)		1,587		(1,283	)		304

ProFund VP Mid-Cap		4,222		(4,172	)		50			7,195		(35,078	)		(27,883	)

ProFund VP NASDAQ-100		4,522		(5,271	)		(749	)		3,480		(15,226	)		(11,746	)

ProFund VP Pharmaceuticals		-		(879	)		(879	)		-		(2	)		(2	)

ProFund VP Precious Metals		-		(76	)		(76	)		-		(628	)		(628	)

ProFund VP Short Emerging Markets		-		-			-			-		-			-

ProFund VP Short International		-		-			-			-		-			-

ProFund VP Short NASDAQ-100		-		(7	)		(7	)		-		(6	)		(6	)

ProFund VP Short Small-Cap		-		-			-			-		-			-

ProFund VP Small-Cap		-		(61	)		(61	)		-		(26,352	)		(26,352	)

ProFund VP Small-Cap Value		6,436		(990	)		5,446			22,108		(22,963	)		(855	)

ProFund VP U.S. Government Plus		-		(846	)		(846	)		-		(867	)		(867	)

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

4. Change in Units (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)

ProFund VP UltraSmall-Cap		-		-			-			-		-			-

ProFund VP Utilities		1,442		(2,838	)		(1,396	)		-		(207	)		(207	)

TA Aegon Bond Service Class		64,858		(121,466	)		(56,608	)		73,442		(89,416	)		(15,974	)

TA Aegon Core Bond Service Class		19,022		(9,454	)		9,568			24,813		(87,332	)		(62,519	)

TA Aegon High Yield Bond Service Class		7,735		(10,186	)		(2,451	)		1,443		(19,643	)		(18,200	)

TA Aegon Sustainable Equity Income Service Class		11,495		(48,042	)		(36,547	)		15,104		(48,222	)		(33,118	)

TA Aegon U.S. Government Securities Service Class		96,939		(209,860	)		(112,921	)		762,796		(130,122	)		632,674

TA BlackRock Government Money Market Service Class		910,837		(1,003,063	)		(92,226	)		456,109		(274,180	)		181,929

TA BlackRock iShares Active Asset Allocation - Conservative Service Class		-		(40,404	)		(40,404	)		65,828		(50,832	)		14,996

TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		288		(8,047	)		(7,759	)		7,590		(6,311	)		1,279

TA BlackRock iShares Edge 40 Service Class		7		(5,262	)		(5,255	)		48		(16,498	)		(16,450	)

TA BlackRock Real Estate Securities Service Class		558		(6,365	)		(5,807	)		3,639		(5,048	)		(1,409	)

TA BlackRock Tactical Allocation Service Class		-		(191,516	)		(191,516	)		-		(1,867	)		(1,867	)

TA Goldman Sachs Managed Risk - Balanced ETF Service Class		259		(12,316	)		(12,057	)		399		(12,240	)		(11,841	)

TA Goldman Sachs Managed Risk - Conservative ETF Service Class		-		(300	)		(300	)		-		(352	)		(352	)

TA Goldman Sachs Managed Risk - Growth ETF Service Class		363		(204,264	)		(203,901	)		10,505		(226,376	)		(215,871	)

TA International Focus Service Class		2,639		(39,214	)		(36,575	)		1,885		(46,113	)		(44,228	)

TA Janus Balanced Service Class		5,655		(13,986	)		(8,331	)		48,732		(2,887	)		45,845

TA Janus Mid-Cap Growth Service Class		11,892		(8,885	)		3,007			2,455		(5,617	)		(3,162	)

TA JPMorgan Asset Allocation - Conservative Service Class		235,864		(322,547	)		(86,683	)		112,778		(566,836	)		(454,058	)

TA JPMorgan Asset Allocation - Growth Service Class		23,389		(86,540	)		(63,151	)		15,253		(121,807	)		(106,554	)

TA JPMorgan Asset Allocation - Moderate Service Class		9,216		(845,475	)		(836,259	)		122,435		(1,437,290	)		(1,314,855	)

TA JPMorgan Asset Allocation - Moderate Growth Service Class		25,115		(1,672,708	)		(1,647,593	)		293,755		(1,944,647	)		(1,650,892	)

TA JPMorgan Enhanced Index Service Class		5,807		(10,169	)		(4,362	)		1,829		(3,259	)		(1,430	)

TA JPMorgan International Moderate Growth Service Class		18,686		(510,216	)		(491,530	)		61,634		(404,452	)		(342,818	)

TA JPMorgan Tactical Allocation Service Class		10,290		(27,542	)		(17,252	)		9,554		(18,327	)		(8,773	)

TA Multi-Managed Balanced Service Class		5,228		(443,417	)		(438,189	)		38,191		(306,667	)		(268,476	)

TA PIMCO Tactical - Balanced Service Class		-		(1,819	)		(1,819	)		-		(1,733	)		(1,733	)

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

4. Change in Units (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)

TA PIMCO Tactical - Conservative Service Class		-		(26,690	)		(26,690	)		-		(1,611	)		(1,611	)

TA PIMCO Tactical - Growth Service Class		-		(2,744	)		(2,744	)		-		(1,255	)		(1,255	)

TA Small/Mid Cap Value Service Class		2,286		(13,361	)		(11,075	)		7,770		(35,212	)		(27,442	)

TA T. Rowe Price Small Cap Service Class		8,562		(12,825	)		(4,263	)		7,182		(15,332	)		(8,150	)

TA WMC US Growth Service Class		62,917		(25,804	)		37,113			778		(26,438	)		(25,660	)

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

4. Change in Unit Dollars (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)

AB Balanced Hedged Allocation Class B Shares	$	691	$	(2,704	)	$	(2,013	)	$	1,025	$	(2,508	)	$	(1,483	)

Fidelity^® VIP Index 500 Service Class 2		7,054		(127,495	)		(120,441	)		10,369		(85,880	)		(75,511	)

Franklin Allocation Class 4 Shares		-		(16,865	)		(16,865	)		8,902		(286,472	)		(277,570	)

ProFund Access VP High Yield		-		(929	)		(929	)		-		(861	)		(861	)

ProFund VP Asia 30		9,235		(14,863	)		(5,628	)		9,583		(15,882	)		(6,299	)

ProFund VP Bull		-		(6,525	)		(6,525	)		-		(3,627	)		(3,627	)

ProFund VP Communication Services		-		(1,951	)		(1,951	)		65		(4,911	)		(4,846	)

ProFund VP Consumer Discretionary		5,113		(15,217	)		(10,104	)		-		(21,853	)		(21,853	)

ProFund VP Emerging Markets		8,598		(17,547	)		(8,949	)		9,629		(19,415	)		(9,786	)

ProFund VP Energy		-		(24,032	)		(24,032	)		-		(957	)		(957	)

ProFund VP Europe 30		25,633		(26,236	)		(603	)		10,664		(21,785	)		(11,121	)

ProFund VP Falling U.S. Dollar		-		(417	)		(417	)		-		(110	)		(110	)

ProFund VP Financials		48		(3,214	)		(3,166	)		4,690		(30,556	)		(25,866	)

ProFund VP Government Money Market		-		(7,342	)		(7,342	)		69,833		(4,403	)		65,430

ProFund VP International		14,729		(27,578	)		(12,849	)		10,590		(2,365	)		8,225

ProFund VP Japan		14,436		(26,154	)		(11,718	)		22,031		(11,072	)		10,959

ProFund VP Materials		-		(35,281	)		(35,281	)		2,486		(2,118	)		368

ProFund VP Mid-Cap		8,829		(8,169	)		660			14,766		(74,023	)		(59,257	)

ProFund VP NASDAQ-100		21,280		(25,023	)		(3,743	)		16,787		(78,274	)		(61,487	)

ProFund VP Pharmaceuticals		-		(1,774	)		(1,774	)		-		(3	)		(3	)

ProFund VP Precious Metals		-		(41	)		(41	)		-		(374	)		(374	)

ProFund VP Short Emerging Markets		-		-			-			-		-			-

ProFund VP Short International		-		-			-			-		-			-

ProFund VP Short NASDAQ-100		-		(1	)		(1	)		-		(1	)		(1	)

ProFund VP Short Small-Cap		-		-			-			-		-			-

ProFund VP Small-Cap		-		(102	)		(102	)		-		(47,549	)		(47,549	)

ProFund VP Small-Cap Value		13,379		(1,889	)		11,490			43,814		(45,133	)		(1,319	)

ProFund VP U.S. Government Plus		-		(971	)		(971	)		-		(1,579	)		(1,579	)

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

4. Change in Unit Dollars (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)

ProFund VP UltraSmall-Cap	$	-	$	-		$	-		$	-	$	-		$	-

ProFund VP Utilities		2,699		(5,067	)		(2,368	)		-		(407	)		(407	)

TA Aegon Bond Service Class		86,844		(161,529	)		(74,685	)		103,774		(124,964	)		(21,190	)

TA Aegon Core Bond Service Class		26,076		(12,381	)		13,695			35,245		(122,499	)		(87,254	)

TA Aegon High Yield Bond Service Class		16,944		(21,708	)		(4,764	)		3,009		(42,427	)		(39,418	)

TA Aegon Sustainable Equity Income Service Class		26,779		(108,952	)		(82,173	)		33,595		(113,327	)		(79,732	)

TA Aegon U.S. Government Securities Service Class		106,598		(237,723	)		(131,125	)		931,335		(153,149	)		778,186

TA BlackRock Government Money Market Service Class		843,764		(932,091	)		(88,327	)		415,195		(247,851	)		167,344

TA BlackRock iShares Active Asset Allocation - Conservative Service Class		-		(48,400	)		(48,400	)		79,376		(61,508	)		17,868

TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		360		(9,832	)		(9,472	)		10,367		(8,290	)		2,077

TA BlackRock iShares Edge 40 Service Class		11		(8,007	)		(7,996	)		77		(27,548	)		(27,471	)

TA BlackRock Real Estate Securities Service Class		1,157		(13,321	)		(12,164	)		10,223		(12,523	)		(2,300	)

TA BlackRock Tactical Allocation Service Class		-		(243,856	)		(243,856	)		-		(2,548	)		(2,548	)

TA Goldman Sachs Managed Risk - Balanced ETF Service Class		374		(17,314	)		(16,940	)		585		(17,302	)		(16,717	)

TA Goldman Sachs Managed Risk - Conservative ETF Service Class		-		(402	)		(402	)		-		(468	)		(468	)

TA Goldman Sachs Managed Risk - Growth ETF Service Class		557		(329,279	)		(328,722	)		15,574		(332,248	)		(316,674	)

TA International Focus Service Class		3,558		(52,683	)		(49,125	)		2,465		(64,587	)		(62,122	)

TA Janus Balanced Service Class		10,651		(26,252	)		(15,601	)		99,345		(5,232	)		94,113

TA Janus Mid-Cap Growth Service Class		44,276		(32,319	)		11,957			9,640		(20,174	)		(10,534	)

TA JPMorgan Asset Allocation - Conservative Service Class		372,128		(511,447	)		(139,319	)		184,689		(927,439	)		(742,750	)

TA JPMorgan Asset Allocation - Growth Service Class		60,486		(216,595	)		(156,109	)		39,218		(295,383	)		(256,165	)

TA JPMorgan Asset Allocation - Moderate Service Class		17,216		(1,645,867	)		(1,628,651	)		1,046,753		(2,756,887	)		(1,710,134	)

TA JPMorgan Asset Allocation - Moderate Growth Service Class		119,896		(3,588,486	)		(3,468,590	)		672,447		(4,318,906	)		(3,646,459	)

TA JPMorgan Enhanced Index Service Class		22,387		(39,353	)		(16,966	)		7,242		(11,642	)		(4,400	)

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

4. Change in Unit Dollars (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)

TA JPMorgan International Moderate Growth Service Class	$	54,473	$	(622,893	)	$	(568,420	)	$	105,779	$	(517,645	)	$	(411,866	)

TA JPMorgan Tactical Allocation Service Class		13,865		(36,453	)		(22,588	)		13,667		(25,552	)		(11,885	)

TA Multi-Managed Balanced Service Class		15,785		(1,371,214	)		(1,355,429	)		133,258		(1,014,509	)		(881,251	)

TA PIMCO Tactical - Balanced Service Class		-		(2,149	)		(2,149	)		-		(2,131	)		(2,131	)

TA PIMCO Tactical - Conservative Service Class		-		(29,001	)		(29,001	)		-		(1,865	)		(1,865	)

TA PIMCO Tactical - Growth Service Class		-		(3,432	)		(3,432	)		-		(1,511	)		(1,511	)

TA Small/Mid Cap Value Service Class		10,886		(59,800	)		(48,914	)		37,589		(163,883	)		(126,294	)

TA T. Rowe Price Small Cap Service Class		35,476		(51,440	)		(15,964	)		27,962		(57,694	)		(29,732	)

TA WMC US Growth Service Class		253,823		(108,728	)		145,095			3,168		(116,696	)		(113,528	)

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights

The Separate Account offers various death benefit options, which have differing fees that are charged against the contract owner’s account balance. These charges are discussed in more detail in the individual’s policy. Differences in the fee structures for these units result in different unit values, expense ratios, and total returns.


		At December 31								For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return* Corresponding to Lowest to Highest Expense Ratio**

AB Balanced Hedged Allocation Class B Shares
	12/31/2023		21,219	$	12.91	to	$11.85	$	48,031		0.90	%		1.45	%	to	2.70	%		11.05	%	to	9.71	%
	12/31/2022		22,168		11.62	to	10.80		45,286		3.07			1.45		to	2.70			(20.32	)	to	(21.29	)
	12/31/2021		22,746		14.59	to	13.73		58,443		0.26			1.45		to	2.70			11.74		to	10.38
	12/31/2020		23,854		13.06	to	12.43		54,971		2.09			1.45		to	2.70			7.69		to	6.38
	12/31/2019		31,437		12.12	to	11.69		67,072		2.34			1.45		to	2.70			16.51		to	15.10
Fidelity^® VIP Index 500 Service Class 2
	12/31/2023		179,508		21.28	to	19.53		760,439		1.20			1.25		to	2.50			24.33		to	22.82
	12/31/2022		210,722		17.11	to	15.90		721,553		1.20			1.25		to	2.50			(19.42	)	to	(20.41	)
	12/31/2021		229,680		21.24	to	19.98		982,990		1.05			1.25		to	2.50			26.67		to	25.13
	12/31/2020		223,999		16.77	to	15.97		759,285		1.59			1.25		to	2.50			16.49		to	15.07
	12/31/2019		217,877		14.39	to	13.88		635,981		1.74			1.25		to	2.50			29.40		to	27.83
Franklin Allocation Class 4 Shares
	12/31/2023		84,221		12.97	to	11.90		203,412		1.32			1.40		to	2.65			13.05		to	11.67
	12/31/2022		91,674		11.47	to	10.66		196,513		1.65			1.40		to	2.65			(17.35	)	to	(18.35	)
	12/31/2021		224,546		13.88	to	13.06		584,091		1.61			1.40		to	2.65			10.00		to	8.66
	12/31/2020		252,827		12.62	to	12.02		599,874		1.38			1.40		to	2.65			10.21		to	8.87
	12/31/2019		294,118		11.45	to	11.04		635,376		3.33			1.40		to	2.65			17.91		to	16.48
ProFund Access VP High Yield
	12/31/2023		4,383		10.87	to	9.98		7,689		5.04			1.25		to	2.50			9.07		to	7.74
	12/31/2022		4,940		9.97	to	9.26		7,981		3.11			1.25		to	2.50			(9.10	)	to	(10.21	)
	12/31/2021		5,467		10.97	to	10.32		9,758		2.41			1.25		to	2.50			(0.97	)	to	(2.17	)
	12/31/2020		6,702		11.08	to	10.55		12,172		5.43			1.25		to	2.50			(1.30	)	to	(2.50	)
	12/31/2019		7,132		11.22	to	10.82		13,174		4.59			1.25		to	2.50			11.04		to	9.69
ProFund VP Asia 30
	12/31/2023		1,092		10.68	to	9.80		899		0.05			1.25		to	2.50			3.03		to	1.78
	12/31/2022		7,966		10.36	to	9.63		6,381		0.32			1.25		to	2.50			(25.36	)	to	(26.27	)
	12/31/2021		14,190		13.88	to	13.06		15,252		-			1.25		to	2.50			(19.53	)	to	(20.51	)
	12/31/2020		15,669		17.25	to	16.43		20,990		0.83			1.25		to	2.50			33.88		to	32.24
	12/31/2019		24,710		12.89	to	12.42		24,805		0.19			1.25		to	2.50			24.75		to	23.22
ProFund VP Bull
	12/31/2023		84,423		19.01	to	17.45		203,907		-			1.25		to	2.50			22.22		to	20.73
	12/31/2022		87,317		15.55	to	14.45		173,340		-			1.25		to	2.50			(20.73	)	to	(21.69	)
	12/31/2021		88,984		19.62	to	18.45		223,843		-			1.25		to	2.50			24.77		to	23.25
	12/31/2020		90,587		15.72	to	14.97		183,446		0.09			1.25		to	2.50			14.60		to	13.20
	12/31/2019		93,122		13.72	to	13.23		165,315		0.26			1.25		to	2.50			27.29		to	25.74
ProFund VP Communication Services
	12/31/2023		3,144		10.91	to	10.01		3,723		1.06			1.25		to	2.50			30.19		to	28.61
	12/31/2022		4,897		8.38	to	7.79		4,474		1.67			1.25		to	2.50			(22.19	)	to	(23.14	)
	12/31/2021		9,222		10.77	to	10.13		11,015		1.24			1.25		to	2.50			16.95		to	15.53
	12/31/2020		12,329		9.21	to	8.77		12,708		1.02			1.25		to	2.50			1.88		to	0.63
	12/31/2019		17,330		9.04	to	8.71		17,639		2.66			1.25		to	2.50			13.35		to	11.97
ProFund VP Consumer Discretionary
	12/31/2023		68,894		17.17	to	15.76		219,961		-			1.25		to	2.50			30.43		to	28.85
	12/31/2022		72,509		13.16	to	12.23		178,277		-			1.25		to	2.50			(32.38	)	to	(33.20	)
	12/31/2021		80,753		19.46	to	18.31		294,907		-			1.25		to	2.50			8.87		to	7.54
	12/31/2020		84,118		17.88	to	17.02		283,422		-			1.25		to	2.50			26.76		to	25.22
	12/31/2019		90,942		14.10	to	13.60		242,801		-			1.25		to	2.50			23.10		to	21.60

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


		At December 31									For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return* Corresponding to Lowest to Highest Expense Ratio**

ProFund VP Emerging Markets
	12/31/2023		14,696	$	12.59	to	$	11.55	$	11,570		1.76	%		1.25	%	to	2.50	%		13.89	%	to	12.51	%
	12/31/2022		26,304		11.05	to		10.27		18,414		0.58			1.25		to	2.50			(17.23	)	to	(18.23	)
	12/31/2021		37,489		13.35	to		12.56		31,703		-			1.25		to	2.50			(19.03	)	to	(20.01	)
	12/31/2020		44,095		16.49	to		15.70		46,276		0.57			1.25		to	2.50			25.16		to	23.63
	12/31/2019		53,715		13.18	to		12.70		45,232		0.42			1.25		to	2.50			22.70		to	21.20
ProFund VP Energy
	12/31/2023		36,492		11.77	to		10.80		38,132		1.99			1.25		to	2.50			(3.70	)	to	(4.87	)
	12/31/2022		59,357		12.22	to		11.35		64,196		1.05			1.25		to	2.50			57.47		to	55.55
	12/31/2021		60,237		7.76	to		7.30		41,533		1.79			1.25		to	2.50			50.06		to	48.23
	12/31/2020		62,339		5.17	to		4.92		28,769		2.52			1.25		to	2.50			(35.27	)	to	(36.06	)
	12/31/2019		63,291		7.99	to		7.70		45,296		1.33			1.25		to	2.50			7.18		to	5.87
ProFund VP Europe 30
	12/31/2023		766		13.39	to		12.29		794		0.67			1.25		to	2.50			16.02		to	14.61
	12/31/2022		1,314		11.54	to		10.72		1,177		1.25			1.25		to	2.50			(8.90	)	to	(10.01	)
	12/31/2021		13,174		12.67	to		11.92		12,987		0.81			1.25		to	2.50			22.99		to	21.49
	12/31/2020		13,918		10.30	to		9.81		11,183		2.32			1.25		to	2.50			(10.35	)	to	(11.45	)
	12/31/2019		6,632		11.49	to		11.08		5,959		2.59			1.25		to	2.50			16.33		to	14.91
ProFund VP Falling U.S. Dollar
	12/31/2023		6,680		8.29	to		7.60		3,296		-			1.25		to	2.50			1.97		to	0.73
	12/31/2022		7,551		8.13	to		7.55		3,661		-			1.25		to	2.50			(9.89	)	to	(10.98	)
	12/31/2021		7,775		9.02	to		8.48		4,197		-			1.25		to	2.50			(9.17	)	to	(10.28	)
	12/31/2020		11,172		9.93	to		9.45		6,645		0.39			1.25		to	2.50			3.51		to	2.25
	12/31/2019		12,496		9.59	to		9.24		7,216		0.05			1.25		to	2.50			(3.55	)	to	(4.72	)
ProFund VP Financials
	12/31/2023		10,779		15.32	to		14.06		13,910		0.49			1.25		to	2.50			12.48		to	11.12
	12/31/2022		13,437		13.62	to		12.66		15,482		0.07			1.25		to	2.50			(16.19	)	to	(17.21	)
	12/31/2021		32,703		16.25	to		15.29		46,001		0.40			1.25		to	2.50			28.50		to	26.93
	12/31/2020		15,253		12.65	to		12.04		16,473		0.69			1.25		to	2.50			(2.98	)	to	(4.17	)
	12/31/2019		15,978		13.04	to		12.57		17,865		0.32			1.25		to	2.50			28.66		to	27.09
ProFund VP Government Money Market
	12/31/2023		336,367		9.77	to		8.97		281,520		4.07			1.25		to	2.50			2.87		to	1.61
	12/31/2022		345,487		9.50	to		8.83		282,023		1.15			1.25		to	2.50			(0.20	)	to	(1.42	)
	12/31/2021		267,132		9.52	to		8.95		217,768		0.01			1.25		to	2.50			(1.22	)	to	(2.43	)
	12/31/2020		272,698		9.64	to		9.18		226,023		0.04			1.25		to	2.50			(1.19	)	to	(2.40	)
	12/31/2019		262,664		9.75	to		9.40		221,519		0.78			1.25		to	2.50			(0.47	)	to	(1.69	)
ProFund VP International
	12/31/2023		7,944		12.15	to		11.15		6,694		-			1.25		to	2.50			14.13		to	12.74
	12/31/2022		24,546		10.65	to		9.89		18,078		-			1.25		to	2.50			(17.48	)	to	(18.48	)
	12/31/2021		13,492		12.90	to		12.14		12,098		-			1.25		to	2.50			7.48		to	6.17
	12/31/2020		17,737		12.00	to		11.43		14,811		0.51			1.25		to	2.50			3.60		to	2.34
	12/31/2019		18,036		11.59	to		11.17		14,569		0.22			1.25		to	2.50			17.80		to	16.36
ProFund VP Japan
	12/31/2023		-		16.30	to		14.97		-		-			1.25		to	2.50			32.86		to	31.24
	12/31/2022		10,490		12.27	to		11.40		10,360		-			1.25		to	2.50			(11.03	)	to	(12.12	)
	12/31/2021		-		13.79	to		12.98		-		-			1.25		to	2.50			2.61		to	1.36
	12/31/2020		-		13.44	to		12.80		-		-			1.25		to	2.50			14.50		to	13.11
	12/31/2019		-		11.74	to		11.32		-		-			1.25		to	2.50			18.52		to	17.07
ProFund VP Materials
	12/31/2023		19,590		15.95	to		14.64		34,687		0.36			1.25		to	2.50			10.99		to	9.64
	12/31/2022		40,941		14.37	to		13.36		64,712		0.17			1.25		to	2.50			(10.26	)	to	(11.35	)
	12/31/2021		40,637		16.02	to		15.07		71,909		0.29			1.25		to	2.50			24.08		to	22.57
	12/31/2020		41,602		12.91	to		12.29		59,541		0.67			1.25		to	2.50			15.05		to	13.64
	12/31/2019		42,861		11.22	to		10.82		53,508		0.34			1.25		to	2.50			16.27		to	14.85

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


		At December 31									For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return* Corresponding to Lowest to Highest Expense Ratio**

ProFund VP Mid-Cap
	12/31/2023		4,988	$	14.37	to	$	13.19	$	11,002		-	%		1.25	%	to	2.50	%		12.43	%	to	11.06	%
	12/31/2022		4,938		12.79	to		11.88		9,713		-			1.25		to	2.50			(15.97	)	to	(16.99	)
	12/31/2021		32,821		15.21	to		14.31		76,814		-			1.25		to	2.50			20.70		to	19.23
	12/31/2020		8,379		12.60	to		12.00		16,334		1.21			1.25		to	2.50			9.39		to	8.06
	12/31/2019		9,305		11.52	to		11.11		16,631		0.16			1.25		to	2.50			22.00		to	20.51
ProFund VP NASDAQ-100
	12/31/2023		6,010		28.87	to		26.50		34,824		-			1.25		to	2.50			50.30		to	48.48
	12/31/2022		6,759		19.21	to		17.85		26,104		-			1.25		to	2.50			(34.73	)	to	(35.52	)
	12/31/2021		18,505		29.43	to		27.68		109,655		-			1.25		to	2.50			23.26		to	21.76
	12/31/2020		6,992		23.87	to		22.73		33,662		-			1.25		to	2.50			43.77		to	42.02
	12/31/2019		13,338		16.60	to		16.01		44,340		-			1.25		to	2.50			35.01		to	33.37
ProFund VP Pharmaceuticals
	12/31/2023		-		11.81	to		10.84		-		0.76			1.25		to	2.50			(6.66	)	to	(7.79	)
	12/31/2022		879		12.65	to		11.75		1,834		0.08			1.25		to	2.50			(7.29	)	to	(8.42	)
	12/31/2021		881		13.64	to		12.83		1,990		0.27			1.25		to	2.50			9.83		to	8.49
	12/31/2020		882		12.42	to		11.83		1,822		0.11			1.25		to	2.50			11.12		to	9.77
	12/31/2019		912		11.18	to		10.78		1,705		0.29			1.25		to	2.50			12.63		to	11.26
ProFund VP Precious Metals
	12/31/2023		9,784		11.95	to		10.97		5,102		-			1.25		to	2.50			0.23		to	(0.99	)
	12/31/2022		9,860		11.93	to		11.08		5,151		-			1.25		to	2.50			(12.12	)	to	(13.19	)
	12/31/2021		10,488		13.57	to		12.76		6,258		-			1.25		to	2.50			(10.06	)	to	(11.16	)
	12/31/2020		11,436		15.09	to		14.37		7,615		0.16			1.25		to	2.50			22.57		to	21.08
	12/31/2019		44,655		12.31	to		11.87		24,368		0.03			1.25		to	2.50			44.18		to	42.42
ProFund VP Short Emerging Markets
	12/31/2023		-		4.27	to		3.92		-		-			1.25		to	2.50			(12.86	)	to	(13.92	)
	12/31/2022		-		4.90	to		4.55		-		-			1.25		to	2.50			5.38		to	4.10
	12/31/2021		-		4.65	to		4.37		-		-			1.25		to	2.50			8.60		to	7.27
	12/31/2020		-		4.28	to		4.07		-		-			1.25		to	2.50			(32.60	)	to	(33.42	)
	12/31/2019		-		6.35	to		6.12		-		-			1.25		to	2.50			(21.97	)	to	(22.92	)
ProFund VP Short International
	12/31/2023		-		5.13	to		4.71		-		-			1.25		to	2.50			(11.40	)	to	(12.48	)
	12/31/2022		-		5.79	to		5.38		-		-			1.25		to	2.50			11.07		to	9.72
	12/31/2021		-		5.21	to		4.90		-		-			1.25		to	2.50			(14.47	)	to	(15.51	)
	12/31/2020		-		6.09	to		5.80		-		-			1.25		to	2.50			(17.97	)	to	(18.97	)
	12/31/2019		-		7.43	to		7.16		-		-			1.25		to	2.50			(18.44	)	to	(19.43	)
ProFund VP Short NASDAQ-100
	12/31/2023		776		1.90	to		1.75		27		-			1.25		to	2.50			(33.24	)	to	(34.05	)
	12/31/2022		783		2.85	to		2.65		41		-			1.25		to	2.50			33.40		to	31.78
	12/31/2021		789		2.14	to		2.01		31		-			1.25		to	2.50			(26.05	)	to	(26.96	)
	12/31/2020		795		2.89	to		2.75		43		0.08			1.25		to	2.50			(43.48	)	to	(44.17	)
	12/31/2019		1,592		5.11	to		4.93		152		0.14			1.25		to	2.50			(28.94	)	to	(29.81	)
ProFund VP Short Small-Cap
	12/31/2023		-		4.07	to		3.74		-		-			1.25		to	2.50			(11.97	)	to	(13.04	)
	12/31/2022		-		4.62	to		4.30		-		-			1.25		to	2.50			16.36		to	14.95
	12/31/2021		-		3.97	to		3.74		-		-			1.25		to	2.50			(20.05	)	to	(21.03	)
	12/31/2020		-		4.97	to		4.73		-		-			1.25		to	2.50			(32.81	)	to	(33.63	)
	12/31/2019		-		7.40	to		7.13		-		-			1.25		to	2.50			(21.76	)	to	(22.72	)
ProFund VP Small-Cap
	12/31/2023		1,284		12.87	to		11.82		2,276		-			1.25		to	2.50			13.49		to	12.11
	12/31/2022		1,345		11.34	to		10.54		2,107		-			1.25		to	2.50			(22.81	)	to	(23.75	)
	12/31/2021		27,697		14.70	to		13.82		56,540		-			1.25		to	2.50			11.49		to	10.13
	12/31/2020		187		13.18	to		12.55		333		0.06			1.25		to	2.50			15.61		to	14.20
	12/31/2019		198		11.40	to		10.99		307		-			1.25		to	2.50			22.08		to	20.59

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


		At December 31									For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return* Corresponding to Lowest to Highest Expense Ratio**

ProFund VP Small-Cap Value
	12/31/2023		9,826	$	13.25	to	$	12.16	$	20,573		0.02	%		1.25	%	to	2.50	%		11.55	%	to	10.19	%
	12/31/2022		4,380		11.87	to		11.03		8,269		-			1.25		to	2.50			(13.49	)	to	(14.55	)
	12/31/2021		5,235		13.73	to		12.91		11,309		0.10			1.25		to	2.50			26.97		to	25.42
	12/31/2020		14,410		10.81	to		10.29		24,697		0.02			1.25		to	2.50			(0.19	)	to	(1.40	)
	12/31/2019		12,036		10.83	to		10.44		20,695		-			1.25		to	2.50			21.05		to	19.57
ProFund VP U.S. Government Plus
	12/31/2023		14,615		7.31	to		6.71		16,141		4.20			1.25		to	2.50			(1.19	)	to	(2.39	)
	12/31/2022		15,461		7.40	to		6.88		17,357		-			1.25		to	2.50			(42.42	)	to	(43.12	)
	12/31/2021		16,328		12.85	to		12.09		31,975		-			1.25		to	2.50			(8.23	)	to	(9.35	)
	12/31/2020		49,583		14.00	to		13.34		106,278		0.02			1.25		to	2.50			19.20		to	17.75
	12/31/2019		18,224		11.75	to		11.33		32,915		0.83			1.25		to	2.50			16.76		to	15.34
ProFund VP UltraSmall-Cap
	12/31/2023		-		11.69	to		10.73		-		-			1.25		to	2.50			20.92		to	19.45
	12/31/2022		-		9.67	to		8.99		-		-			1.25		to	2.50			(44.38	)	to	(45.06	)
	12/31/2021		-		17.39	to		16.36		-		-			1.25		to	2.50			21.78		to	20.30
	12/31/2020		-		14.28	to		13.60		-		-			1.25		to	2.50			14.95		to	13.55
	12/31/2019		-		12.42	to		11.97		-		-			1.25		to	2.50			45.51		to	43.74
ProFund VP Utilities
	12/31/2023		5,885		13.16	to		12.08		10,376		1.35			1.25		to	2.50			(9.72	)	to	(10.82	)
	12/31/2022		7,281		14.57	to		13.54		14,219		0.99			1.25		to	2.50			(1.48	)	to	(2.68	)
	12/31/2021		7,488		14.79	to		13.91		14,893		1.34			1.25		to	2.50			13.98		to	12.59
	12/31/2020		11,295		12.98	to		12.36		19,892		1.54			1.25		to	2.50			(3.60	)	to	(4.78	)
	12/31/2019		20,283		13.46	to		12.98		37,344		1.49			1.25		to	2.50			21.36		to	19.88
TA Aegon Bond Service Class
	12/31/2023		414,995		9.86	to		9.05		566,905		0.62			1.25		to	2.50			4.88		to	3.60
	12/31/2022		471,603		9.40	to		8.73		615,327		2.36			1.25		to	2.50			(16.13	)	to	(17.15	)
	12/31/2021		487,577		11.20	to		10.54		762,692		1.25			1.25		to	2.50			(2.29	)	to	(3.48	)
	12/31/2020		561,804		11.47	to		10.92		899,692		4.07			1.25		to	2.50			6.08		to	4.79
	12/31/2019		605,344		10.81	to		10.42		918,415		2.19			1.25		to	2.50			6.88		to	5.58
TA Aegon Core Bond Service Class
	12/31/2023		319,935		9.98	to		9.16		435,610		2.27			1.25		to	2.50			4.48		to	3.21
	12/31/2022		310,367		9.55	to		8.88		405,214		2.29			1.25		to	2.50			(14.07	)	to	(15.11	)
	12/31/2021		372,886		11.12	to		10.46		568,371		2.33			1.25		to	2.50			(2.49	)	to	(3.67	)
	12/31/2020		409,375		11.40	to		10.85		643,829		3.23			1.25		to	2.50			5.84		to	4.55
	12/31/2019		488,690		10.77	to		10.38		729,087		3.00			1.25		to	2.50			6.92		to	5.61
TA Aegon High Yield Bond Service Class
	12/31/2023		23,471		11.83	to		10.86		48,725		4.14			1.25		to	2.50			9.51		to	8.17
	12/31/2022		25,922		10.80	to		10.04		49,308		4.75			1.25		to	2.50			(12.55	)	to	(13.61	)
	12/31/2021		44,122		12.35	to		11.62		98,644		4.86			1.25		to	2.50			4.94		to	3.66
	12/31/2020		40,141		11.77	to		11.21		85,203		6.32			1.25		to	2.50			3.39		to	2.12
	12/31/2019		50,059		11.38	to		10.97		103,726		5.88			1.25		to	2.50			12.57		to	11.19
TA Aegon Sustainable Equity Income Service Class
	12/31/2023		184,009		12.04	to		11.05		438,347		1.89			1.25		to	2.50			4.70		to	3.43
	12/31/2022		220,556		11.50	to		10.68		503,412		1.84			1.25		to	2.50			(12.93	)	to	(13.99	)
	12/31/2021		253,674		13.20	to		12.42		670,046		1.76			1.25		to	2.50			20.61		to	19.14
	12/31/2020		326,756		10.95	to		10.42		718,006		2.75			1.25		to	2.50			(8.73	)	to	(9.84	)
	12/31/2019		404,938		11.99	to		11.56		977,241		2.21			1.25		to	2.50			22.05		to	20.56
TA Aegon U.S. Government Securities Service Class
	12/31/2023		728,398		9.50	to		8.72		847,736		1.42			1.25		to	2.50			2.41		to	1.16
	12/31/2022		841,319		9.28	to		8.62		958,383		0.97			1.25		to	2.50			(14.36	)	to	(15.41	)
	12/31/2021		208,645		10.84	to		10.19		280,120		1.24			1.25		to	2.50			(3.74	)	to	(4.91	)
	12/31/2020		658,203		11.26	to		10.72		909,556		1.44			1.25		to	2.50			7.32		to	6.01
	12/31/2019		538,913		10.49	to		10.11		704,248		1.57			1.25		to	2.50			5.04		to	3.75

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


		At December 31									For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return* Corresponding to Lowest to Highest Expense Ratio**

TA BlackRock Government Money Market Service Class
	12/31/2023		706,272	$	10.01	to	$	9.19	$	661,872		4.57	%		1.25	%	to	2.50	%		3.38	%	to	2.12	%
	12/31/2022		798,498		9.68	to		8.99		726,356		1.47			1.25		to	2.50			0.16		to	(1.06	)
	12/31/2021		616,569		9.67	to		9.09		559,277		0.00			1.25		to	2.50			(1.23	)	to	(2.44	)
	12/31/2020		518,577		9.79	to		9.32		476,247		0.25			1.25		to	2.50			(0.99	)	to	(2.20	)
	12/31/2019		585,425		9.88	to		9.53		544,619		1.72			1.25		to	2.50			0.46		to	(0.76	)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class
	12/31/2023		777		11.53	to		10.58		983		0.08			1.25		to	2.50			8.60		to	7.28
	12/31/2022		41,181		10.62	to		9.87		47,150		2.25			1.25		to	2.50			(16.33	)	to	(17.35	)
	12/31/2021		26,185		12.69	to		11.94		35,427		0.97			1.25		to	2.50			4.44		to	3.16
	12/31/2020		37,915		12.15	to		11.57		49,388		2.07			1.25		to	2.50			5.34		to	4.05
	12/31/2019		29,023		11.54	to		11.12		36,107		1.97			1.25		to	2.50			9.86		to	8.52
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class
	12/31/2023		35,872		11.56	to		10.61		48,178		1.41			1.25		to	2.50			16.17		to	14.76
	12/31/2022		43,631		9.95	to		9.25		50,517		1.31			1.25		to	2.50			(19.32	)	to	(20.30	)
	12/31/2021		42,352		12.33	to		11.60		60,873		0.54			1.25		to	2.50			6.29		to	5.00
	12/31/2020		47,454		11.60	to		11.05		64,334		1.83			1.25		to	2.50			(3.29	)	to	(4.47	)
	12/31/2019		51,636		12.00	to		11.57		72,568		1.65			1.25		to	2.50			9.98		to	8.64
TA BlackRock iShares Edge 40 Service Class
	12/31/2023		65,351		11.86	to		10.89		103,834		2.02			1.25		to	2.50			7.72		to	6.41
	12/31/2022		70,606		11.01	to		10.23		104,519		1.57			1.25		to	2.50			(15.49	)	to	(16.52	)
	12/31/2021		87,056		13.03	to		12.25		153,211		1.49			1.25		to	2.50			4.47		to	3.20
	12/31/2020		100,230		12.47	to		11.87		169,105		2.23			1.25		to	2.50			8.10		to	6.78
	12/31/2019		110,858		11.54	to		11.12		173,720		2.03			1.25		to	2.50			13.68		to	12.30
TA BlackRock Real Estate Securities Service Class
	12/31/2023		34,950		11.41	to		10.48		77,464		5.35			1.25		to	2.50			11.75		to	10.39
	12/31/2022		40,757		10.21	to		9.49		81,456		2.91			1.25		to	2.50			(29.27	)	to	(30.13	)
	12/31/2021		42,166		14.44	to		13.58		119,202		2.13			1.25		to	2.50			24.30		to	22.78
	12/31/2020		48,536		11.62	to		11.06		111,141		11.00			1.25		to	2.50			(1.74	)	to	(2.94	)
	12/31/2019		92,886		11.82	to		11.40		218,422		0.54			1.25		to	2.50			23.34		to	21.84
TA BlackRock Tactical Allocation Service Class
	12/31/2023		8,480		13.35	to		12.25		11,817		1.41			1.25		to	2.50			13.47		to	12.09
	12/31/2022		199,996		11.76	to		10.93		245,602		3.69			1.25		to	2.50			(17.24	)	to	(18.25	)
	12/31/2021		201,863		14.21	to		13.37		300,287		2.49			1.25		to	2.50			6.30		to	5.01
	12/31/2020		202,001		13.37	to		12.73		283,364		1.75			1.25		to	2.50			11.79		to	10.43
	12/31/2019		202,160		11.96	to		11.53		254,300		2.19			1.25		to	2.50			15.61		to	14.20
TA Goldman Sachs Managed Risk - Balanced ETF Service Class
	12/31/2023		111,870		12.58	to		11.55		167,258		1.49			1.25		to	2.50			11.81		to	10.45
	12/31/2022		123,927		11.25	to		10.46		166,349		1.50			1.25		to	2.50			(15.32	)	to	(16.35	)
	12/31/2021		135,768		13.29	to		12.50		216,019		1.15			1.25		to	2.50			8.00		to	6.69
	12/31/2020		175,020		12.31	to		11.72		259,131		1.45			1.25		to	2.50			2.90		to	1.65
	12/31/2019		335,987		11.96	to		11.53		488,199		1.95			1.25		to	2.50			14.22		to	12.83
TA Goldman Sachs Managed Risk - Conservative ETF Service Class
	12/31/2023		4,868		11.51	to		10.56		6,864		1.75			1.25		to	2.50			9.23		to	7.90
	12/31/2022		5,168		10.53	to		9.79		6,697		1.59			1.25		to	2.50			(12.92	)	to	(13.98	)
	12/31/2021		5,520		12.10	to		11.38		8,247		1.55			1.25		to	2.50			1.49		to	0.25
	12/31/2020		5,848		11.92	to		11.35		8,642		2.19			1.25		to	2.50			3.62		to	2.35
	12/31/2019		6,237		11.50	to		11.09		8,931		2.04			1.25		to	2.50			10.81		to	9.45
TA Goldman Sachs Managed Risk - Growth ETF Service Class
	12/31/2023		344,472		14.20	to		13.04		597,266		1.25			1.25		to	2.50			16.23		to	14.82
	12/31/2022		548,373		12.22	to		11.36		821,155		1.44			1.25		to	2.50			(15.57	)	to	(16.60	)
	12/31/2021		764,244		14.48	to		13.62		1,354,559		0.89			1.25		to	2.50			12.64		to	11.26
	12/31/2020		829,256		12.85	to		12.24		1,308,105		1.92			1.25		to	2.50			2.93		to	1.67
	12/31/2019		1,070,844		12.49	to		12.04		1,645,311		1.73			1.25		to	2.50			17.94		to	16.50

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


		At December 31									For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return* Corresponding to Lowest to Highest Expense Ratio**

TA International Focus Service Class
	12/31/2023		91,789	$	14.40	to	$	13.22	$	128,926		1.64	%		1.25	%	to	2.50	%		10.89	%	to	9.54	%
	12/31/2022		128,364		12.99	to		12.07		162,885		2.71			1.25		to	2.50			(21.28	)	to	(22.24	)
	12/31/2021		172,592		16.49	to		15.52		278,822		1.04			1.25		to	2.50			9.26		to	7.93
	12/31/2020		195,409		15.10	to		14.38		290,262		2.10			1.25		to	2.50			19.10		to	17.64
	12/31/2019		210,466		12.68	to		12.22		263,357		1.11			1.25		to	2.50			25.83		to	24.30
TA Janus Balanced Service Class
	12/31/2023		164,362		16.27	to		14.93		320,843		1.13			1.25		to	2.50			13.60		to	12.22
	12/31/2022		172,693		14.32	to		13.31		298,134		0.87			1.25		to	2.50			(17.79	)	to	(18.79	)
	12/31/2021		126,848		17.42	to		16.39		265,867		1.28			1.25		to	2.50			14.02		to	12.63
	12/31/2020		47,093		15.28	to		14.55		87,130		1.55			1.25		to	2.50			12.90		to	11.53
	12/31/2019		88,309		13.54	to		13.05		146,299		1.37			1.25		to	2.50			20.27		to	18.80
TA Janus Mid-Cap Growth Service Class
	12/31/2023		29,311		21.03	to		19.30		115,433		-			1.25		to	2.50			15.36		to	13.96
	12/31/2022		26,304		18.23	to		16.93		89,726		-			1.25		to	2.50			(17.96	)	to	(18.96	)
	12/31/2021		29,466		22.22	to		20.90		123,207		0.10			1.25		to	2.50			15.55		to	14.14
	12/31/2020		39,014		19.23	to		18.31		142,071		0.04			1.25		to	2.50			17.46		to	16.03
	12/31/2019		68,488		16.37	to		15.78		212,432		-			1.25		to	2.50			34.65		to	33.00
TA JPMorgan Asset Allocation - Conservative Service Class
	12/31/2023		2,054,269		11.80	to		10.83		3,411,112		1.99			1.25		to	2.50			5.51		to	4.23
	12/31/2022		2,140,952		11.19	to		10.39		3,382,008		5.48			1.25		to	2.50			(16.65	)	to	(17.66	)
	12/31/2021		2,595,010		13.42	to		12.62		4,933,396		2.18			1.25		to	2.50			4.32		to	3.05
	12/31/2020		2,960,562		12.86	to		12.25		5,407,969		2.25			1.25		to	2.50			9.87		to	8.53
	12/31/2019		3,167,021		11.71	to		11.29		5,286,069		2.07			1.25		to	2.50			12.15		to	10.78
TA JPMorgan Asset Allocation - Growth Service Class
	12/31/2023		973,277		17.36	to		15.93		2,744,457		1.47			1.25		to	2.50			18.53		to	17.09
	12/31/2022		1,036,428		14.65	to		13.61		2,467,136		5.66			1.25		to	2.50			(23.69	)	to	(24.62	)
	12/31/2021		1,142,982		19.19	to		18.05		3,570,562		1.53			1.25		to	2.50			17.88		to	16.44
	12/31/2020		1,073,129		16.28	to		15.50		2,858,361		1.45			1.25		to	2.50			22.82		to	21.33
	12/31/2019		1,060,914		13.26	to		12.78		2,309,205		1.48			1.25		to	2.50			24.31		to	22.79
TA JPMorgan Asset Allocation - Moderate Service Class
	12/31/2023		5,398,991		12.93	to		11.86		11,179,643		1.83			1.25		to	2.50			7.52		to	6.21
	12/31/2022		6,235,250		12.02	to		11.17		12,037,154		4.99			1.25		to	2.50			(17.28	)	to	(18.29	)
	12/31/2021		7,550,105		14.54	to		13.67		16,572,035		1.66			1.25		to	2.50			7.59		to	6.28
	12/31/2020		9,086,979		13.51	to		12.86		18,646,489		1.97			1.25		to	2.50			10.89		to	9.54
	12/31/2019		10,215,903		12.18	to		11.74		18,931,295		1.92			1.25		to	2.50			14.74		to	13.34
TA JPMorgan Asset Allocation - Moderate Growth Service Class
	12/31/2023		8,208,217		14.47	to		13.28		18,716,653		1.73			1.25		to	2.50			10.55		to	9.21
	12/31/2022		9,855,810		13.09	to		12.16		20,343,235		5.07			1.25		to	2.50			(18.55	)	to	(19.54	)
	12/31/2021		11,506,702		16.06	to		15.11		29,292,618		1.96			1.25		to	2.50			12.30		to	10.93
	12/31/2020		13,046,399		14.30	to		13.62		29,648,493		1.81			1.25		to	2.50			13.25		to	11.87
	12/31/2019		15,742,445		12.63	to		12.18		31,723,334		1.93			1.25		to	2.50			18.31		to	16.87
TA JPMorgan Enhanced Index Service Class
	12/31/2023		32,793		21.59	to		19.82		137,240		0.56			1.25		to	2.50			25.82		to	24.29
	12/31/2022		37,155		17.16	to		15.95		124,621		0.40			1.25		to	2.50			(19.55	)	to	(20.53	)
	12/31/2021		38,585		21.33	to		20.06		161,203		0.61			1.25		to	2.50			28.19		to	26.62
	12/31/2020		41,250		16.64	to		15.85		133,951		1.27			1.25		to	2.50			18.38		to	16.94
	12/31/2019		48,483		14.06	to		13.55		133,084		0.89			1.25		to	2.50			29.08		to	27.50
TA JPMorgan International Moderate Growth Service Class
	12/31/2023		1,700,234		12.81	to		11.75		2,207,410		1.35			1.25		to	2.50			7.36		to	6.06
	12/31/2022		2,191,764		11.93	to		11.08		2,621,951		4.79			1.25		to	2.50			(18.44	)	to	(19.43	)
	12/31/2021		2,534,582		14.63	to		13.76		3,718,149		1.29			1.25		to	2.50			7.66		to	6.35
	12/31/2020		2,802,504		13.58	to		12.94		3,797,792		2.50			1.25		to	2.50			13.13		to	11.75
	12/31/2019		3,201,964		12.01	to		11.58		3,845,626		2.00			1.25		to	2.50			16.16		to	14.74

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


		At December 31								For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return* Corresponding to Lowest to Highest Expense Ratio**

TA JPMorgan Tactical Allocation Service Class
	12/31/2023		42,787	$	11.60	to	$10.65	$	60,567		1.79	%		1.25	%	to	2.50	%		7.23	%	to	5.93	%
	12/31/2022		60,039		10.82	to	10.05		79,591		1.42			1.25		to	2.50			(16.07	)	to	(17.10	)
	12/31/2021		68,812		12.89	to	12.13		108,861		1.32			1.25		to	2.50			3.34		to	2.08
	12/31/2020		52,928		12.47	to	11.88		80,664		1.98			1.25		to	2.50			10.72		to	9.37
	12/31/2019		102,262		11.27	to	10.86		141,032		2.00			1.25		to	2.50			10.53		to	9.18
TA Multi-Managed Balanced Service Class
	-12/31/2023		1,179,377		16.13	to	14.80		3,900,567		1.21			1.25		to	2.50			16.98		to	15.56
	12/31/2022		1,617,566		13.78	to	12.81		4,589,551		0.90			1.25		to	2.50			(17.52	)	to	(18.52	)
	12/31/2021		1,886,042		16.71	to	15.72		6,581,857		0.94			1.25		to	2.50			15.35		to	13.94
	12/31/2020		2,114,545		14.49	to	13.80		6,306,813		1.35			1.25		to	2.50			14.18		to	12.78
	12/31/2019		2,409,699		12.69	to	12.23		6,310,101		1.55			1.25		to	2.50			20.00		to	18.53
TA PIMCO Tactical - Balanced Service Class
	12/31/2023		7,936		11.71	to	10.75		9,917		1.01			1.25		to	2.50			9.29		to	7.96
	12/31/2022		9,755		10.72	to	9.96		11,176		0.55			1.25		to	2.50			(20.64	)	to	(21.61	)
	12/31/2021		11,488		13.50	to	12.70		16,621		-			1.25		to	2.50			5.08		to	3.80
	12/31/2020		13,766		12.85	to	12.24		18,995		3.32			1.25		to	2.50			7.51		to	6.20
	12/31/2019		16,463		11.95	to	11.52		21,171		0.17			1.25		to	2.50			18.20		to	16.76
TA PIMCO Tactical - Conservative Service Class
	12/31/2023		-		11.39	to	10.46		-		-			1.25		to	2.50			5.91		to	4.63
	12/31/2022		26,690		10.76	to	10.00		27,858		1.06			1.25		to	2.50			(18.31	)	to	(19.31	)
	12/31/2021		28,301		13.17	to	12.39		36,375		1.02			1.25		to	2.50			2.92		to	1.67
	12/31/2020		29,874		12.80	to	12.18		37,527		1.43			1.25		to	2.50			8.54		to	7.21
	12/31/2019		31,444		11.79	to	11.37		36,609		0.08			1.25		to	2.50			16.11		to	14.70
TA PIMCO Tactical - Growth Service Class
	12/31/2023		13,052		13.03	to	11.96		16,839		0.88			1.25		to	2.50			12.54		to	11.17
	12/31/2022		15,796		11.58	to	10.76		18,176		-			1.25		to	2.50			(19.04	)	to	(20.02	)
	12/31/2021		17,051		14.30	to	13.45		24,332		-			1.25		to	2.50			7.86		to	6.55
	12/31/2020		18,235		13.26	to	12.63		24,224		1.09			1.25		to	2.50			7.74		to	6.43
	12/31/2019		1,687		12.31	to	11.86		2,127		-			1.25		to	2.50			20.05		to	18.59
TA Small/Mid Cap Value Service Class
	12/31/2023		116,539		15.56	to	14.29		570,106		0.81			1.25		to	2.50			10.77		to	9.42
	12/31/2022		127,614		14.05	to	13.06		565,321		0.32			1.25		to	2.50			(9.66	)	to	(10.76	)
	12/31/2021		155,056		15.55	to	14.63		762,011		0.49			1.25		to	2.50			26.24		to	24.70
	12/31/2020		162,337		12.32	to	11.73		634,714		0.93			1.25		to	2.50			2.46		to	1.21
	12/31/2019		239,758		12.02	to	11.59		919,399		0.70			1.25		to	2.50			23.40		to	21.89
TA T. Rowe Price Small Cap Service Class
	12/31/2023		130,540		17.23	to	15.81		575,710		-			1.25		to	2.50			19.39		to	17.94
	12/31/2022		134,803		14.43	to	13.41		500,276		-			1.25		to	2.50			(23.55	)	to	(24.48	)
	12/31/2021		142,953		18.87	to	17.75		696,999		-			1.25		to	2.50			9.71		to	8.37
	12/31/2020		155,667		17.20	to	16.38		696,071		-			1.25		to	2.50			21.78		to	20.30
	12/31/2019		193,018		14.13	to	13.62		711,211		-			1.25		to	2.50			30.76		to	29.16
TA WMC US Growth Service Class
	12/31/2023		324,643		25.94	to	23.81		1,569,627		-			1.25		to	2.50			39.98		to	38.28
	12/31/2022		287,530		18.53	to	17.22		996,236		-			1.25		to	2.50			(32.36	)	to	(33.18	)
	12/31/2021		313,190		27.40	to	25.77		1,612,743		-			1.25		to	2.50			18.89		to	17.44
	12/31/2020		307,664		23.04	to	21.94		1,336,823		-			1.25		to	2.50			35.25		to	33.60
	12/31/2019		392,731		17.04	to	16.43		1,268,353		-			1.25		to	2.50			37.95		to	36.27

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


		⁽¹⁾		See Footnote 1

		*		These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest.

		**		These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded.

		***		These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return.

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

6. Administrative and Mortality and Expense Risk Charges

TLIC deducts a daily administrative charge equal to an annual rate of 0.15% of the daily net assets value of each subaccount for administrative expenses. TLIC also deducts an annual charge during the accumulation phase, not to exceed $30, proportionately from the subaccounts’ unit values. An annual charge ranging from 1.10% to 2.35% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC’s assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges.

In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees:


Subaccount		Additional Fund Facilitation Fee Assessed
AB Balanced Hedged Allocation Class B Shares		0.20%
Franklin Allocation Class 4 Shares		0.15%

7. Income Tax

Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code). The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation. The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC. Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts.

Transamerica Life Insurance Company

Separate Account VA V

Notes to Financial Statements

December 31, 2023

8. Subsequent Events

The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued. During this period, there were no subsequent events requiring recognition in the financial statements.

9. Related Parties

Transamerica Capital, Inc. (TCI), a wholesaling broker-dealer, is an affiliated entity of TLIC and an indirect wholly owned subsidiary of Aegon N.V. TCI distributes TLIC’s products through broker-dealers and other financial intermediaries.

The subaccounts invest in the mutual funds listed in Footnote 1. These investments include funds managed by Transamerica Asset Management, Inc. (TAM). Transamerica Fund Services, Inc. (TFS) serves as a transfer agent to TAM, and Aegon USA Asset Management Holding, LLC (AAM) serves as a sub-advisor for certain funds managed by TAM. TAM, TFS and AAM are affiliated entities of TLIC and indirect wholly owned subsidiaries of Aegon N.V. Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both. The Separate Account pays management fees to the related funds as detailed in the fund prospectus.

No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties.

Contract owners may transfer funds between available subaccount options within the Separate Account. These transfers are performed at unit value at the time of the transfer.