FINANCIAL STATEMENTS

Transamerica Life Insurance Company

Separate Account VA CC

Years Ended December 31, 2023 and 2022


Transamerica Life Insurance Company

Separate Account VA CC

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 CC

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts of Separate Account VA CC 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 periods indicated in the table below, 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 CC as of December 31, 2023, and the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

 

AB Large Cap Growth Class B Shares (1)   T. Rowe Price All-Cap Opportunities (1)
AB Sustainable Global Thematic Growth Class B Shares (1)   T. Rowe Price Equity Income Service Class (1)
Allspring VT Discovery SMID Cap Growth Class 2 Shares (1)   T. Rowe Price International Stock (1)
BNY Mellon Sustainable U.S. Equity Initial Shares (1)   TA Aegon Bond Initial Class (1)
BNY Mellon Sustainable U.S. Equity Service Shares (1)   TA Aegon Sustainable Equity Income Initial Class (1)
BNY Mellon VIF Appreciation Service Shares (1)   TA BlackRock Government Money Market Initial Class (1)
BNY Mellon VIF Growth and Income Initial Shares (1)   TA BlackRock Real Estate Securities Initial Class (1)
Calvert VP EAFE International Index Class I Shares (1)   TA Goldman Sachs Managed Risk - Balanced ETF Initial Class (1)
Calvert VP SRI Balanced (1)   TA Goldman Sachs Managed Risk - Growth ETF Initial Class (1)
Calvert VP SRI Mid Cap (1)   TA International Focus Initial Class (1)
Columbia - Select Mid Cap Growth Class 2 Shares (1)   TA Janus Mid-Cap Growth Initial Class (1)
Columbia - Seligman Global Technology Class 2 Shares (1)   TA JPMorgan Asset Allocation - Conservative Initial Class (1)
Columbia - Small Company Growth Class 1 Shares (1)   TA JPMorgan Asset Allocation - Growth Initial Class (1)
DFA VA Global Bond (1)   TA JPMorgan Asset Allocation - Moderate Initial Class (1)
DFA VA International Small (1)   TA JPMorgan Asset Allocation - Moderate Growth Initial Class (1)
DFA VA International Value (1)   TA JPMorgan Enhanced Index Initial Class (1)
DFA VA Short-Term Fixed (1)   TA Multi-Managed Balanced Initial Class (1)
DFA VA U.S. Large Value (1)   TA S&P 500 Index Initial Class (2)

 

1


DFA VA U.S. Targeted Value (1)

 

TA Small/Mid Cap Value Initial Class (1)

Federated Hermes Fund for U.S. Government Securities II (1)

 

TA T. Rowe Price Small Cap Initial Class (1)

Federated Hermes Government Money II Service Shares (1)

 

TA TS&W International Equity Initial Class (1)

Federated Hermes High Income Bond II Primary Shares (1)

 

TA WMC US Growth Initial Class (1)

Federated Hermes Managed Volatility II Primary Shares (1)

 

Vanguard® Equity Index (1)

Fidelity® VIP Asset Manager Initial Class (1)

 

Vanguard® International (1)

Fidelity® VIP Contrafund® Initial Class (1)

 

Vanguard® Mid-Cap Index (1)

Fidelity® VIP Equity-Income Initial Class (1)

 

Vanguard® Real Estate Index (1)

Fidelity® VIP Government Money Market Initial Class (1)

 

Vanguard® Short-Term Investment Grade (1)

Fidelity® VIP Growth Initial Class (1)

 

Vanguard® Total Bond Market Index (1)

Fidelity® VIP Mid Cap Initial Class (1)

 

Wanger Acorn (1)

Fidelity® VIP Value Strategies Initial Class (1)

 

Wanger International (1)

NVIT Emerging Markets Class D Shares (1)

   

(1)   Statements of operations and changes in net assets for the years ended December 31, 2023 and 2022

(2)   Statements of operations and changes in net assets for the year ended December 31, 2023 and the period May 2, 2022 (commencement of operations) through December 31, 2022

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 CC 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 CC 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 agents, 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 CC since 2014.


Transamerica Life Insurance Company

Separate Account VA CC

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 Large Cap Growth Class B Shares     4,155.116     $     229,721     $ 278,227     $ 52     $     278,279       52,604     $    4.291578      $    26.297707  
AB Sustainable Global Thematic Growth Class B Shares     5.457       209       169       9       178       94       1.893145        20.153049  
Allspring VT Discovery SMID Cap Growth Class 2 Shares     -       -       -       -       -       -       99.737869        118.681637  
BNY Mellon Sustainable U.S. Equity Initial Shares     64,392.150       2,464,178       2,896,359       -       2,896,359       35,278       70.911689        88.900146  
BNY Mellon Sustainable U.S. Equity Service Shares     0.063       2       3       (3)       -       -       2.890461        19.113206  
BNY Mellon VIF Appreciation Service Shares     1,538.799       56,074       52,750       (8)       52,742       12,489       3.653100        21.630496  
BNY Mellon VIF Growth and Income Initial Shares     48,193.490       1,417,660       1,557,614       (5)       1,557,609       15,690       96.145549        117.788890  
Calvert VP EAFE International Index Class I Shares     14,842.249       1,132,606       1,415,802       11       1,415,813       846,567       1.595229        1.730026  
Calvert VP SRI Balanced     1,081,154.669       2,268,905       2,562,337       1       2,562,338       45,438       52.566748        63.144712  
Calvert VP SRI Mid Cap     180,810.698       5,178,554       4,605,248       15       4,605,263       62,127       66.039653        79.279463  
Columbia - Select Mid Cap Growth Class 2 Shares     2,127.435       48,457       93,416       1       93,417       34,007       2.434533        18.482433  
Columbia - Seligman Global Technology Class 2 Shares     8,981.608       191,539       217,175       (1)       217,174       25,174       6.784445        33.176894  
Columbia - Small Company Growth Class 1 Shares     88,384.063       1,434,276       1,029,674       (30)       1,029,644       167,674       4.123614        62.085507  
DFA VA Global Bond     4,000,610.391       42,075,969       38,845,927       (101)       38,845,826       23,248,633       1.210809        26.010957  
DFA VA International Small     2,031,262.743       24,462,925       24,131,401       108       24,131,509       5,152,207       2.519742        49.165918  
DFA VA International Value     2,264,366.326       26,526,098       30,818,026       2       30,818,028       8,786,656       1.539281        46.159495  
DFA VA Short-Term Fixed     3,387,745.314       34,555,817       33,979,085       (101)       33,978,984       24,287,441       0.893779        16.633507  
DFA VA U.S. Large Value     1,844,529.292       45,783,556       60,020,983       (53)       60,020,930       11,963,497       3.065744        105.703278  
DFA VA U.S. Targeted Value     1,777,399.391       31,904,880       40,169,226       62       40,169,288       6,098,337       3.446255        150.543903  
Federated Hermes Fund for U.S. Government Securities II     174,967.603       1,800,021       1,635,947       (46)       1,635,901       882,041       1.267421        22.168921  
Federated Hermes Government Money II Service Shares     5,873,905.359       5,873,905       5,873,905       (79)       5,873,826       4,604,783       0.871743        15.113477  
Federated Hermes High Income Bond II Primary Shares     510,536.824       3,045,336       2,889,638       12       2,889,650       739,875       2.775560        43.585527  
Federated Hermes Managed Volatility II Primary Shares     296,580.083       2,901,976       2,675,152       (7)       2,675,145       943,133       1.867943        38.906017  
Fidelity® VIP Asset Manager Initial Class     27,353.824       418,044       427,814       (2)       427,812       10,575       40.378448        48.993309  
Fidelity® VIP Contrafund® Initial Class     135,682.236       5,353,893       6,598,227       (92)       6,598,135       1,495,879       3.776569        21.482188  
Fidelity® VIP Equity-Income Initial Class     51,260.114       1,122,951       1,273,814       (1)       1,273,813       17,369       72.499630        87.575577  
Fidelity® VIP Government Money Market Initial Class     4,782,055.780       4,782,056       4,782,056       (144)       4,781,912       305,972       13.503172        16.054149  
Fidelity® VIP Growth Initial Class     26,279.241       2,012,347       2,446,597       2       2,446,599       18,079       132.037796        164.782341  
Fidelity® VIP Mid Cap Initial Class     29,126.624       971,113       1,061,374       6       1,061,380       190,493       4.622950        16.176805  
Fidelity® VIP Value Strategies Initial Class     68,526.075       918,733       1,134,107       16       1,134,123       256,428       3.778421        18.830371  
NVIT Emerging Markets Class D Shares     64,825.968       682,881       669,652       4       669,656       61,716       9.690178        10.952790  
T. Rowe Price All-Cap Opportunities     48,262.743       1,496,480       1,660,238       3       1,660,241       11,733       140.980530        164.589164  
T. Rowe Price Equity Income Service Class     41,493.248       1,144,431       1,151,853       (2)       1,151,851       13,609       83.549176        101.329197  
T. Rowe Price International Stock     20,694.945       302,828       310,631       (1)       310,630       11,822       26.188493        31.622480  
TA Aegon Bond Initial Class     946,127.183       10,565,675       9,158,511       52       9,158,563       5,130,244       1.528096        9.731341  
TA Aegon Sustainable Equity Income Initial Class     81,737.159       1,508,657       1,492,521       (5)       1,492,516       610,957       2.239238        11.888347  
TA BlackRock Government Money Market Initial Class     2,799,772.820       2,799,773       2,799,773       (35)       2,799,738       2,759,033       0.959321        1.020123  
TA BlackRock Real Estate Securities Initial Class     121,079.404       1,350,522       1,176,892       1       1,176,893       304,738       2.939562        49.592504  
TA Goldman Sachs Managed Risk - Balanced ETF Initial Class     98,822.909       1,150,413       1,141,405       (2)       1,141,403       622,776       1.558963        12.422627  
TA Goldman Sachs Managed Risk - Growth ETF Initial Class     29,786.229       316,733       315,138       (5)       315,133       151,993       1.781807        14.043116  
TA International Focus Initial Class     60,814.211       532,653       527,259       4       527,263       187,315       2.316824        14.292046  
TA Janus Mid-Cap Growth Initial Class     37,370.473       1,225,579       1,140,921       16       1,140,937       301,136       2.946275        20.638865  

 

See accompanying notes.

   2


Transamerica Life Insurance Company

Separate Account VA CC

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 JPMorgan Asset Allocation - Conservative Initial Class     97,738.196     $     1,010,563     $ 842,503     $ 15     $ 842,518       384,678     $    1.902128      $    11.654947  
TA JPMorgan Asset Allocation - Growth Initial Class     273,594.506       3,144,866       2,834,439       37           2,834,476       772,874       3.063260        17.195545  
TA JPMorgan Asset Allocation - Moderate Initial Class     131,532.021       1,500,512       1,348,203       (8)       1,348,195       540,424       2.215546        12.753383  
TA JPMorgan Asset Allocation - Moderate Growth Initial Class     144,964.587       1,664,870       1,461,243       (34)       1,461,209       485,486       2.554162        14.281881  
TA JPMorgan Enhanced Index Initial Class     128,905.909       2,730,456       3,082,140       24       3,082,164       277,917       4.000429        62.146216  
TA Multi-Managed Balanced Initial Class     114,071.926       1,657,452       1,753,286       (27)       1,753,259       571,333       2.747055        15.857452  
TA S&P 500 Index Initial Class     21,661.317       391,686       436,259       (1)       436,258       371,831       1.153701        11.738738  
TA Small/Mid Cap Value Initial Class     133,936.108       2,617,910       2,539,429       58       2,539,487       235,040       3.433952        119.081595  
TA T. Rowe Price Small Cap Initial Class     427,134.296       5,781,806       4,865,060       97       4,865,157       1,092,968       3.791738        17.030555  
TA TS&W International Equity Initial Class     56,587.417       779,696       817,688       (12)       817,676       269,515       1.994156        23.535977  
TA WMC US Growth Initial Class     265,901.066       8,918,139       9,532,553       (1)       9,532,552       1,569,878       4.315254        25.425301  
Vanguard® Equity Index     853,847.964       39,246,589       51,990,803       81       51,990,884       9,316,703       4.646181        20.853941  
Vanguard® International     598,815.740       16,542,224       14,712,903       8       14,712,911       6,674,741       1.875146        18.043185  
Vanguard® Mid-Cap Index     566,260.824       12,205,331       13,550,622       (59)       13,550,563       2,366,710       4.792591        16.986229  
Vanguard® Real Estate Index     1,126,907.224       13,464,056       13,432,734       (6)       13,432,728       2,949,390       4.082118        12.638740  
Vanguard® Short-Term Investment Grade     2,458,466.473       25,998,613       25,346,789       (44)       25,346,745       15,835,661       1.349702        10.128872  
Vanguard® Total Bond Market Index     3,643,269.301       42,669,585       38,727,953       (29)       38,727,924       22,850,945       1.440959        9.656984  
Wanger Acorn     206,878.420       3,582,118       2,757,689       63       2,757,752       409,543       4.165826        124.579012  
Wanger International     92,926.093       2,102,459       1,893,834       (6)       1,893,828       403,484       1.481876        104.621973  

 

See accompanying notes.

   3


Transamerica Life Insurance Company

Separate Account VA CC

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 Large Cap Growth Class B Shares

  $ 278,279         $ -      $ 278,279  

AB Sustainable Global Thematic Growth Class B Shares

    178           -        178  

Allspring VT Discovery SMID Cap Growth Class 2 Shares

    -           -        -  

BNY Mellon Sustainable U.S. Equity Initial Shares

    2,855,971           40,388        2,896,359  

BNY Mellon Sustainable U.S. Equity Service Shares

    -           -        -  

BNY Mellon VIF Appreciation Service Shares

    52,742           -        52,742  

BNY Mellon VIF Growth and Income Initial Shares

    1,538,546           19,063        1,557,609  

Calvert VP EAFE International Index Class I Shares

    1,390,872           24,941        1,415,813  

Calvert VP SRI Balanced

    2,510,646           51,692        2,562,338  

Calvert VP SRI Mid Cap

    4,522,172           83,091        4,605,263  

Columbia - Select Mid Cap Growth Class 2 Shares

    88,461           4,956        93,417  

Columbia - Seligman Global Technology Class 2 Shares

    203,101           14,073        217,174  

Columbia - Small Company Growth Class 1 Shares

    1,029,644           -        1,029,644  

DFA VA Global Bond

    38,702,810           143,016        38,845,826  

DFA VA International Small

    24,031,086           100,423        24,131,509  

DFA VA International Value

    30,708,902           109,126        30,818,028  

DFA VA Short-Term Fixed

    33,607,841           371,143        33,978,984  

DFA VA U.S. Large Value

    59,672,135           348,795        60,020,930  

DFA VA U.S. Targeted Value

    39,901,815           267,473        40,169,288  

Federated Hermes Fund for U.S. Government Securities II

    1,608,657           27,244        1,635,901  

Federated Hermes Government Money II Service Shares

    5,856,592           17,234        5,873,826  

Federated Hermes High Income Bond II Primary Shares

    2,842,284           47,366        2,889,650  

Federated Hermes Managed Volatility II Primary Shares

    2,649,809           25,336        2,675,145  

Fidelity® VIP Asset Manager Initial Class

    427,812           -        427,812  

Fidelity® VIP Contrafund® Initial Class

    6,587,263           10,872        6,598,135  

Fidelity® VIP Equity-Income Initial Class

    1,194,718           79,095        1,273,813  

Fidelity® VIP Government Money Market Initial Class

    4,745,843           36,069        4,781,912  

Fidelity® VIP Growth Initial Class

    2,340,216           106,383        2,446,599  

Fidelity® VIP Mid Cap Initial Class

    1,061,380           -        1,061,380  

Fidelity® VIP Value Strategies Initial Class

    1,134,123           -        1,134,123  

NVIT Emerging Markets Class D Shares

    667,113           2,543        669,656  

T. Rowe Price All-Cap Opportunities

    1,617,908           42,333        1,660,241  

T. Rowe Price Equity Income Service Class

    1,067,134           84,717        1,151,851  

T. Rowe Price International Stock

    310,630           -        310,630  

TA Aegon Bond Initial Class

    9,071,834           86,729        9,158,563  

TA Aegon Sustainable Equity Income Initial Class

    1,455,067           37,449        1,492,516  

TA BlackRock Government Money Market Initial Class

    2,775,441           24,297        2,799,738  

TA BlackRock Real Estate Securities Initial Class

    1,176,425           468        1,176,893  

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class

    1,141,403           -        1,141,403  

TA Goldman Sachs Managed Risk - Growth ETF Initial Class

    315,133           -        315,133  

TA International Focus Initial Class

    527,263           -        527,263  

 

See accompanying notes.

   4


Transamerica Life Insurance Company

Separate Account VA CC

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 Janus Mid-Cap Growth Initial Class

  $ 1,140,937         $ -      $ 1,140,937  

TA JPMorgan Asset Allocation - Conservative Initial Class

    842,518           -        842,518  

TA JPMorgan Asset Allocation - Growth Initial Class

    2,834,476           -        2,834,476  

TA JPMorgan Asset Allocation - Moderate Initial Class

    1,348,195           -        1,348,195  

TA JPMorgan Asset Allocation - Moderate Growth Initial Class

    1,461,209           -        1,461,209  

TA JPMorgan Enhanced Index Initial Class

    3,068,953           13,211        3,082,164  

TA Multi-Managed Balanced Initial Class

    1,741,152           12,107        1,753,259  

TA S&P 500 Index Initial Class

    436,258           -        436,258  

TA Small/Mid Cap Value Initial Class

    2,520,162           19,325        2,539,487  

TA T. Rowe Price Small Cap Initial Class

    4,844,759           20,398        4,865,157  

TA TS&W International Equity Initial Class

    808,572           9,104        817,676  

TA WMC US Growth Initial Class

    9,407,218           125,334        9,532,552  

Vanguard® Equity Index

    51,768,993           221,891        51,990,884  

Vanguard® International

    14,629,186           83,725        14,712,911  

Vanguard® Mid-Cap Index

    13,460,482           90,081        13,550,563  

Vanguard® Real Estate Index

    13,283,088           149,640        13,432,728  

Vanguard® Short-Term Investment Grade

    25,252,762           93,983        25,346,745  

Vanguard® Total Bond Market Index

    38,565,266           162,658        38,727,924  

Wanger Acorn

    2,757,322           430        2,757,752  

Wanger International

    1,889,390           4,438        1,893,828  

 

See accompanying notes.

   5


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

AB Large Cap Growth Class B Shares

Subaccount

   

AB Sustainable Global Thematic

Growth Class B Shares

Subaccount

   

Allspring VT Discovery SMID Cap

Growth Class 2 Shares

Subaccount

    

BNY Mellon Sustainable U.S. Equity

Initial Shares

Subaccount

 

Net Assets as of December 31, 2021:

    $ 298,881     $ 285     $ -      $ 3,746,484    
  

 

 

 
Investment Income:          

Reinvested Dividends

     -       -       -        16,073    
Investment Expense:          

Mortality and Expense Risk and Administrative Charges

     1,524       3       -        30,001    
  

 

 

 

Net Investment Income (Loss)

     (1,524     (3     -        (13,928)   
Increase (Decrease) in Net Assets from Operations:          

Capital Gain Distributions

     29,933       20       -        220,129    

Realized Gain (Loss) on Investments

     462       (1     -        32,806    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     30,395       19       -        252,935    

Net Change in Unrealized Appreciation (Depreciation)

     (115,804     (92     -        (1,119,411)   
  

 

 

 

Net Gain (Loss) on Investment

     (85,409     (73     -        (866,476)   
Net Increase (Decrease) in Net Assets Resulting from Operations      (86,933     (76     -        (880,404)   
  

 

 

 
Increase (Decrease) in Net Assets from Contract Transactions      (2,380     (28     -        (50,447)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (89,313     (104     -        (930,851)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 209,568     $ 181     $ -      $ 2,815,633    
  

 

 

 

Investment Income:

         

Reinvested Dividends

     -       -       -        22,046    

Investment Expense:

         

Mortality and Expense Risk and Administrative Charges

     1,601       3       -        27,993    
  

 

 

 

Net Investment Income (Loss)

     (1,601     (3     -        (5,947)   
Increase (Decrease) in Net Assets from Operations:          

Capital Gain Distributions

     18,000       10       -        354,022    

Realized Gain (Loss) on Investments

     383       (11     -        8,865    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     18,383       (1     -        362,887    

Net Change in Unrealized Appreciation (Depreciation)

     53,981       25       -        240,135    
  

 

 

 

Net Gain (Loss) on Investment

     72,364       24       -        603,022    
Net Increase (Decrease) in Net Assets Resulting from Operations      70,763       21       -        597,075    
  

 

 

 
Increase (Decrease) in Net Assets from Contract Transactions      (2,052     (24     -        (516,349)   
  

 

 

 
Total Increase (Decrease) in Net Assets      68,711       (3     -        80,726    
  

 

 

 
Net Assets as of December 31, 2023:     $ 278,279     $ 178     $ -      $ 2,896,359    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   6


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

BNY Mellon Sustainable U.S. Equity

Service Shares

Subaccount

   

BNY Mellon VIF Appreciation

Service Shares

Subaccount

   

BNY Mellon VIF Growth and Income

Initial Shares

Subaccount

   

Calvert VP EAFE International Index

Class I Shares

Subaccount

 

Net Assets as of December 31, 2021:

    $ -     $ 63,838     $ 1,538,142     $ 1,536,025    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     -       231       10,709       45,940    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     -       469       17,264       13,728    
  

 

 

 

Net Investment Income (Loss)

     -       (238     (6,555     32,212    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       15,936       266,485       -    

Realized Gain (Loss) on Investments

     -       107       9,766       5,960    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     -       16,043       276,251       5,960    

Net Change in Unrealized Appreciation (Depreciation)

     (1     (27,915     (514,020     (275,824)   
  

 

 

 

Net Gain (Loss) on Investment

     (1     (11,872     (237,769     (269,864)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (1     (12,110     (244,324     (237,652)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     1       1       (14,007     (18,418)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     -       (12,109     (258,331     (256,070)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ -     $ 51,729     $ 1,279,811     $ 1,279,955    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     -       244       9,397       39,633    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     -       466       18,331       14,174    
  

 

 

 

Net Investment Income (Loss)

     -       (222     (8,934     25,459    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       4,844       152,089       -    

Realized Gain (Loss) on Investments

     -       1,322       17,694       18,333    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     -       6,166       169,783       18,333    

Net Change in Unrealized Appreciation (Depreciation)

     -       3,404       155,539       163,233    
  

 

 

 

Net Gain (Loss) on Investment

     -       9,570       325,322       181,566    

Net Increase (Decrease) in Net Assets Resulting from Operations

     -       9,348       316,388       207,025    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     -       (8,335     (38,590     (71,167)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     -       1,013       277,798       135,858    
  

 

 

 

Net Assets as of December 31, 2023:

    $ -     $ 52,742     $ 1,557,609     $ 1,415,813    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   7


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

  Calvert VP SRI Balanced  

Subaccount

   

  Calvert VP SRI Mid Cap  

Subaccount

   

Columbia - Select Mid Cap Growth

Class 2 Shares

Subaccount

   

  Columbia - Seligman Global  

Technology Class 2 Shares

Subaccount

 

Net Assets as of December 31, 2021:

    $ 3,242,562     $ 5,815,421     $ 209,656     $ 450,742    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     31,610       -       -       -    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     32,362       49,237       891       3,084    
  

 

 

 

Net Investment Income (Loss)

     (752     (49,237     (891     (3,084)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     250,669       988,744       -       90,989    

Realized Gain (Loss) on Investments

     77,592       (47,611     25,834       726    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     328,261       941,133       25,834       91,715    

Net Change in Unrealized Appreciation (Depreciation)

     (849,974     (2,067,114     (85,439     (234,794)   
  

 

 

 

Net Gain (Loss) on Investment

     (521,713     (1,125,981     (59,605     (143,079)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (522,465     (1,175,218     (60,496     (146,163)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (273,700     (185,887     (39,666     (649)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (796,165     (1,361,105     (100,162     (146,812)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 2,446,397     $ 4,454,316     $ 109,494     $ 303,930    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     39,433       8,465       -       -    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     29,093       45,496       641       2,564    
  

 

 

 

Net Investment Income (Loss)

     10,340       (37,031     (641     (2,564)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     9,446       -       -       15,090    

Realized Gain (Loss) on Investments

     27,754       (130,530     26,726       7,204    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     37,200       (130,530     26,726       22,294    

Net Change in Unrealized Appreciation (Depreciation)

     308,242       617,964       (5,445     76,834    
  

 

 

 

Net Gain (Loss) on Investment

     345,442       487,434       21,281       99,128    

Net Increase (Decrease) in Net Assets Resulting from Operations

     355,782       450,403       20,640       96,564    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (239,841     (299,456     (36,717     (183,320)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     115,941       150,947       (16,077     (86,756)   
  

 

 

 

Net Assets as of December 31, 2023:

    $ 2,562,338     $ 4,605,263     $ 93,417     $ 217,174    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   8


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

  Columbia - Small Company Growth  

Class 1 Shares

Subaccount

   

  DFA VA Global Bond  

Subaccount

   

 DFA VA International Small 

Subaccount

   

 DFA VA International Value 

Subaccount

 

Net Assets as of December 31, 2021:

    $ 1,905,581     $ 47,721,430     $ 31,416,540     $ 33,820,327    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     -       662,948       647,771       1,185,526    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     7,724       273,540       164,475       194,438    
  

 

 

 

Net Investment Income (Loss)

     (7,724     389,408       483,296       991,088    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     411,572       -       441,002       329,456    

Realized Gain (Loss) on Investments

     (60,217     (503,698     (36,744     267,385    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     351,355       (503,698     404,258       596,841    

Net Change in Unrealized Appreciation (Depreciation)

     (959,889     (3,131,510     (6,587,654     (2,903,004)   
  

 

 

 

Net Gain (Loss) on Investment

     (608,534     (3,635,208     (6,183,396     (2,306,163)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (616,258     (3,245,800     (5,700,100     (1,315,075)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (413,701     (3,734,560     (1,285,004     (2,692,742)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (1,029,959     (6,980,360     (6,985,104     (4,007,817)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 875,622     $ 40,741,070     $ 24,431,436     $ 29,812,510    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     -       1,516,409       718,461       1,410,878    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     6,841       251,539       151,468       192,274    
  

 

 

 

Net Investment Income (Loss)

     (6,841     1,264,870       566,993       1,218,604    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       -       -       281,562    

Realized Gain (Loss) on Investments

     (39,131     (528,579     15,796       562,241    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     (39,131     (528,579     15,796       843,803    

Net Change in Unrealized Appreciation (Depreciation)

     265,053       978,842       2,457,572       2,764,116    
  

 

 

 

Net Gain (Loss) on Investment

     225,922       450,263       2,473,368       3,607,919    

Net Increase (Decrease) in Net Assets Resulting from Operations

     219,081       1,715,133       3,040,361       4,826,523    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (65,059     (3,610,377     (3,340,288     (3,821,005)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     154,022       (1,895,244     (299,927     1,005,518    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 1,029,644     $ 38,845,826     $ 24,131,509     $ 30,818,028    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   9


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

  DFA VA Short-Term Fixed  

Subaccount

   

  DFA VA U.S. Large Value  

Subaccount

   

 DFA VA U.S. Targeted Value 

Subaccount

   

Federated Hermes Fund for U.S.

Government Securities II

Subaccount

 

Net Assets as of December 31, 2021:

    $ 40,351,533     $ 72,246,267     $ 48,092,886     $ 2,241,897    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     471,528       1,406,080       542,364       31,582    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     247,820       399,973       271,772       11,029    
  

 

 

 

Net Investment Income (Loss)

     223,708       1,006,107       270,592       20,553    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       759,994       3,212,607       -    

Realized Gain (Loss) on Investments

     (103,381     2,263,984       1,337,371       (33,843)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     (103,381     3,023,978       4,549,978       (33,843)   

Net Change in Unrealized Appreciation (Depreciation)

     (847,665     (7,830,954     (7,111,029     (230,897)   
  

 

 

 

Net Gain (Loss) on Investment

     (951,046     (4,806,976     (2,561,051     (264,740)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (727,338     (3,800,869     (2,290,459     (244,187)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (3,644,416     (6,817,488     (5,206,905     (566,243)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (4,371,754     (10,618,357     (7,497,364     (810,430)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 35,979,779     $ 61,627,910     $ 40,595,522     $ 1,431,467    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     1,282,307       1,290,738       574,375       34,842    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     225,477       362,405       241,845       9,369    
  

 

 

 

Net Investment Income (Loss)

     1,056,830       928,333       332,530       25,473    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       786,668       2,555,853       -    

Realized Gain (Loss) on Investments

     (32,184     2,272,434       950,347       (47,807)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     (32,184     3,059,102       3,506,200       (47,807)   

Net Change in Unrealized Appreciation (Depreciation)

     447,621       1,700,192       2,769,250       91,390    
  

 

 

 

Net Gain (Loss) on Investment

     415,437       4,759,294       6,275,450       43,583    

Net Increase (Decrease) in Net Assets Resulting from Operations

     1,472,267       5,687,627       6,607,980       69,056    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (3,473,062     (7,294,607     (7,034,214     135,378    
  

 

 

 

Total Increase (Decrease) in Net Assets

     (2,000,795     (1,606,980     (426,234     204,434    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 33,978,984     $ 60,020,930     $ 40,169,288     $ 1,635,901    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   10


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

  Federated Hermes Government  

Money II Service Shares

Subaccount

   

 Federated Hermes High Income 

Bond II Primary Shares

Subaccount

   

 Federated Hermes Managed 

Volatility II Primary Shares

Subaccount

   

Fidelity® VIP Asset Manager Initial

Class

Subaccount

 

Net Assets as of December 31, 2021:

    $ 5,852,319     $ 4,837,118     $ 3,270,345     $ 587,881    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     89,606       205,542       53,659       10,038    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     49,281       26,472       24,867       6,769    
  

 

 

 

Net Investment Income (Loss)

     40,325       179,070       28,792       3,269    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       -       672,746       34,031    

Realized Gain (Loss) on Investments

     -       (195,340     (79,770     (509)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     -       (195,340     592,976       33,522    

Net Change in Unrealized Appreciation (Depreciation)

     -       (536,217     (1,088,159     (130,247)   
  

 

 

 

Net Gain (Loss) on Investment

     -       (731,557     (495,183     (96,725)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     40,325       (552,487     (466,391     (93,456)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     1,745,394       (1,152,901     (269,799     (39,980)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     1,785,719       (1,705,388     (736,190     (133,436)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 7,638,038     $ 3,131,730     $ 2,534,155     $ 454,445    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     275,032       181,612       47,504       9,708    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     41,369       21,880       23,106       6,207    
  

 

 

 

Net Investment Income (Loss)

     233,663       159,732       24,398       3,501    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       -       -       4,992    

Realized Gain (Loss) on Investments

     -       (133,076     (18,538     (7,508)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     -       (133,076     (18,538     (2,516)   

Net Change in Unrealized Appreciation (Depreciation)

     -       310,334       188,459       46,440    
  

 

 

 

Net Gain (Loss) on Investment

     -       177,258       169,921       43,924    

Net Increase (Decrease) in Net Assets Resulting from Operations

     233,663       336,990       194,319       47,425    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (1,997,875     (579,070     (53,329     (74,058)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (1,764,212     (242,080     140,990       (26,633)   
  

 

 

 

Net Assets as of December 31, 2023:

    $ 5,873,826     $ 2,889,650     $ 2,675,145     $ 427,812    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   11


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

  Fidelity® VIP Contrafund® Initial  

Class

Subaccount

   

 Fidelity® VIP Equity-Income  Initial 

Class

Subaccount

   

 Fidelity® VIP Government Money 

Market Initial Class

Subaccount

   

Fidelity® VIP Growth Initial Class

Subaccount

 

Net Assets as of December 31, 2021:

    $ 8,519,292     $ 1,387,546     $ 4,752,589     $ 2,763,678    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     32,734       24,355       67,095       13,556    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     47,268       17,287       41,943       29,493    
  

 

 

 

Net Investment Income (Loss)

     (14,534     7,068       25,152       (15,937)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     308,195       42,695       -       163,468    

Realized Gain (Loss) on Investments

     262,428       4,873       -       49,574    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     570,623       47,568       -       213,042    

Net Change in Unrealized Appreciation (Depreciation)

     (2,723,832     (141,215     -       (891,673)   
  

 

 

 

Net Gain (Loss) on Investment

     (2,153,209     (93,647     -       (678,631)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (2,167,743     (86,579     25,152       (694,568)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (656,618     (34,992     (71,682     (155,311)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (2,824,361     (121,571     (46,530     (849,879)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 5,694,931     $ 1,265,975     $ 4,706,059     $ 1,913,799    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     29,440       23,432       226,725       2,838    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     44,790       16,916       41,874       28,672    
  

 

 

 

Net Investment Income (Loss)

     (15,350     6,516       184,851       (25,834)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     215,651       35,173       -       101,994    

Realized Gain (Loss) on Investments

     271,896       3,556       -       35,111    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     487,547       38,729       -       137,105    

Net Change in Unrealized Appreciation (Depreciation)

     1,291,703       64,349       -       533,011    
  

 

 

 

Net Gain (Loss) on Investment

     1,779,250       103,078       -       670,116    

Net Increase (Decrease) in Net Assets Resulting from Operations

     1,763,900       109,594       184,851       644,282    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (860,696     (101,756     (108,998     (111,482)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     903,204       7,838       75,853       532,800    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 6,598,135     $ 1,273,813     $ 4,781,912     $ 2,446,599    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   12


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

 Fidelity® VIP Mid Cap Initial Class 

Subaccount

   

 Fidelity® VIP Value Strategies Initial 

Class

Subaccount

   

 NVIT Emerging Markets Class D 

Shares

Subaccount

   

T. Rowe Price All-Cap Opportunities

Subaccount

 

Net Assets as of December 31, 2021:

    $ 1,347,811     $ 1,257,436     $ 1,124,940     $ 2,000,674    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     5,436       12,446       1,388       -    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     6,918       8,656       5,724       21,622    
  

 

 

 

Net Investment Income (Loss)

     (1,482     3,790       (4,336     (21,622)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     71,979       52,075       -       78,574    

Realized Gain (Loss) on Investments

     10,789       15,803       10,020       34,265    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     82,768       67,878       10,020       112,839    

Net Change in Unrealized Appreciation (Depreciation)

     (281,869     (172,737     (286,890     (533,754)   
  

 

 

 

Net Gain (Loss) on Investment

     (199,101     (104,859     (276,870     (420,915)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (200,583     (101,069     (281,206     (442,537)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (132,754     (75,560     (118,010     (145,087)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (333,337     (176,629     (399,216     (587,624)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 1,014,474     $ 1,080,807     $ 725,724     $ 1,413,050    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     5,994       12,204       9,906       3,806    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     6,562       8,170       4,691       20,995    
  

 

 

 

Net Investment Income (Loss)

     (568     4,034       5,215       (17,189)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     27,486       40,488       -       109,364    

Realized Gain (Loss) on Investments

     (5,096     18,505       233       29,134    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     22,390       58,993       233       138,498    

Net Change in Unrealized Appreciation (Depreciation)

     117,279       134,348       14,807       246,128    
  

 

 

 

Net Gain (Loss) on Investment

     139,669       193,341       15,040       384,626    

Net Increase (Decrease) in Net Assets Resulting from Operations

     139,101       197,375       20,255       367,437    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (92,195     (144,059     (76,323     (120,246)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     46,906       53,316       (56,068     247,191    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 1,061,380     $ 1,134,123     $ 669,656     $ 1,660,241    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   13


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

 T. Rowe Price Equity Income Service 

Class

Subaccount

   

 T. Rowe Price International Stock 

Subaccount

   

 TA Aegon Bond Initial Class 

Subaccount

   

 TA Aegon Sustainable Equity 

Income Initial Class

Subaccount

 

Net Assets as of December 31, 2021:

    $ 1,299,466     $ 410,209     $ 14,711,246     $ 2,249,778    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     21,405       2,307       331,434       41,883    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     15,739       4,454       86,442       18,568    
  

 

 

 

Net Investment Income (Loss)

     5,666       (2,147     244,992       23,315    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     55,780       6,969       -       67,959    

Realized Gain (Loss) on Investments

     7,561       (1,833     (417,225     1,863    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     63,341       5,136       (417,225     69,822    

Net Change in Unrealized Appreciation (Depreciation)

     (127,253     (71,139     (2,035,576     (365,774)   
  

 

 

 

Net Gain (Loss) on Investment

     (63,912     (66,003     (2,452,801     (295,952)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (58,246     (68,150     (2,207,809     (272,637)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (162,359     (56,416     (1,783,556     (132,266)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (220,605     (124,566     (3,991,365     (404,903)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 1,078,861     $ 285,643     $ 10,719,881     $ 1,844,875    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     22,739       2,950       88,207       35,559    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     14,501       4,136       68,214       16,084    
  

 

 

 

Net Investment Income (Loss)

     8,238       (1,186     19,993       19,475    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     46,866       -       -       -    

Realized Gain (Loss) on Investments

     (221     (209     (641,597     (58,256)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     46,645       (209     (641,597     (58,256)   

Net Change in Unrealized Appreciation (Depreciation)

     31,387       41,886       1,140,713       115,371    
  

 

 

 

Net Gain (Loss) on Investment

     78,032       41,677       499,116       57,115    

Net Increase (Decrease) in Net Assets Resulting from Operations

     86,270       40,491       519,109       76,590    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (13,280     (15,504     (2,080,427     (428,949)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     72,990       24,987       (1,561,318     (352,359)   
  

 

 

 

Net Assets as of December 31, 2023:

    $ 1,151,851     $ 310,630     $ 9,158,563     $ 1,492,516    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   14


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

 TA BlackRock Government Money 

Market Initial Class

Subaccount

   

 TA BlackRock Real Estate Securities 

Initial Class

Subaccount

   

 TA Goldman Sachs Managed Risk - 

Balanced ETF Initial Class

Subaccount

   

TA Goldman Sachs Managed Risk -

Growth ETF Initial Class

Subaccount

 

Net Assets as of December 31, 2021:

    $ 2,323,103     $ 1,948,142     $ 415,950     $ 367,954    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     29,759       53,385       17,354       5,450    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     18,247       9,843       3,847       2,186    
  

 

 

 

Net Investment Income (Loss)

     11,512       43,542       13,507       3,264    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       -       23,966       18,725    

Realized Gain (Loss) on Investments

     -       (71,047     (613     (1,603)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     -       (71,047     23,353       17,122    

Net Change in Unrealized Appreciation (Depreciation)

     -       (518,669     (112,110     (75,125)   
  

 

 

 

Net Gain (Loss) on Investment

     -       (589,716     (88,757     (58,003)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     11,512       (546,174     (75,250     (54,739)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (269,759     (241,790     766,407       (16,518)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (258,247     (787,964     691,157       (71,257)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 2,064,856     $ 1,160,178     $ 1,107,107     $ 296,697    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     100,098       66,214       19,878       4,949    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     17,933       7,196       6,238       1,961    
  

 

 

 

Net Investment Income (Loss)

     82,165       59,018       13,640       2,988    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       -       77,212       7,597    

Realized Gain (Loss) on Investments

     -       (60,986     (4,745     (2,035)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     -       (60,986     72,467       5,562    

Net Change in Unrealized Appreciation (Depreciation)

     -       137,714       49,112       40,011    
  

 

 

 

Net Gain (Loss) on Investment

     -       76,728       121,579       45,573    

Net Increase (Decrease) in Net Assets Resulting from Operations

     82,165       135,746       135,219       48,561    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     652,717       (119,031     (100,923     (30,125)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     734,882       16,715       34,296       18,436    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 2,799,738     $ 1,176,893     $ 1,141,403     $ 315,133    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   15


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

 

    

 TA International Focus Initial Class 

Subaccount

   

 TA Janus Mid-Cap Growth Initial 

Class

Subaccount

   

TA JPMorgan Asset Allocation -
Conservative Initial Class

Subaccount

   

TA JPMorgan Asset Allocation -
Growth Initial Class

Subaccount

 

Net Assets as of December 31, 2021:

    $ 726,451     $ 715,592     $ 1,444,170     $ 3,204,091    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     18,190       -       68,353       169,739    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     3,936       4,837       8,234       20,086    
  

 

 

 

Net Investment Income (Loss)

     14,254       (4,837     60,119       149,653    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     31,854       90,318       112,529       568,335    

Realized Gain (Loss) on Investments

     (2,497     7,585       (52,000     (498)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     29,357       97,903       60,529       567,837    

Net Change in Unrealized Appreciation (Depreciation)

     (192,945     (207,649     (348,358     (1,495,399)   
  

 

 

 

Net Gain (Loss) on Investment

     (163,588     (109,746     (287,829     (927,562)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (149,334     (114,583     (227,710     (777,909)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (4,564     51,862       (260,413     193,936    
  

 

 

 

Total Increase (Decrease) in Net Assets

     (153,898     (62,721     (488,123     (583,973)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 572,553     $ 652,871     $ 956,047     $ 2,620,118    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     11,756       -       18,488       44,890    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     3,849       6,798       6,204       19,209    
  

 

 

 

Net Investment Income (Loss)

     7,907       (6,798     12,284       25,681    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     -       189,333       -       36,587    

Realized Gain (Loss) on Investments

     (8,556     (7,404     (46,084     (103,862)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     (8,556     181,929       (46,084     (67,275)   

Net Change in Unrealized Appreciation (Depreciation)

     62,482       (39,967     86,394       520,292    
  

 

 

 

Net Gain (Loss) on Investment

     53,926       141,962       40,310       453,017    

Net Increase (Decrease) in Net Assets Resulting from Operations

     61,833       135,164       52,594       478,698    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (107,123     352,902       (166,123     (264,340)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (45,290     488,066       (113,529     214,358    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 527,263     $ 1,140,937     $ 842,518     $ 2,834,476    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   16


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

 TA JPMorgan Asset Allocation - 

Moderate Initial Class

Subaccount

   

 TA JPMorgan Asset Allocation - 

Moderate Growth Initial Class

Subaccount

   

 TA JPMorgan Enhanced Index Initial 

Class

Subaccount

   

TA Multi-Managed Balanced Initial

Class

Subaccount

 

Net Assets as of December 31, 2021:

    $ 1,785,318     $ 1,891,023     $ 3,255,468     $ 1,904,204    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     76,101       86,512       18,802       19,586    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     14,386       10,703       19,694       13,653    
  

 

 

 

Net Investment Income (Loss)

     61,715       75,809       (892     5,933    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     140,660       221,016       331,561       194,288    

Realized Gain (Loss) on Investments

     7,600       (33,963     15,916       9,763    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     148,260       187,053       347,477       204,051    

Net Change in Unrealized Appreciation (Depreciation)

     (504,820     (597,917     (957,197     (528,827)   
  

 

 

 

Net Gain (Loss) on Investment

     (356,560     (410,864     (609,720     (324,776)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (294,845     (335,055     (610,612     (318,843)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (142,140     (169,619     (65,722     (87,875)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (436,985     (504,674     (676,334     (406,718)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 1,348,333     $ 1,386,349     $ 2,579,134     $ 1,497,486    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     27,894       27,885       23,329       25,088    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     12,880       9,344       19,880       12,782    
  

 

 

 

Net Investment Income (Loss)

     15,014       18,541       3,449       12,306    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     10,073       61,711       134,206       53,024    

Realized Gain (Loss) on Investments

     (23,985     (16,390     60,544       12,532    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     (13,912     45,321       194,750       65,556    

Net Change in Unrealized Appreciation (Depreciation)

     102,095       88,875       477,046       190,025    
  

 

 

 

Net Gain (Loss) on Investment

     88,183       134,196       671,796       255,581    

Net Increase (Decrease) in Net Assets Resulting from Operations

     103,197       152,737       675,245       267,887    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (103,335     (77,877     (172,215     (12,114)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (138     74,860       503,030       255,773    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 1,348,195     $ 1,461,209     $ 3,082,164     $ 1,753,259    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   17


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

 TA S&P 500 Index Initial Class 

Subaccount(1)

   

 TA Small/Mid Cap Value Initial Class 

Subaccount

   

 TA T. Rowe Price Small Cap Initial 

Class

Subaccount

   

TA TS&W International Equity Initial

Class

Subaccount

 

Net Assets as of December 31, 2021:

    $ -     $ 2,747,254     $ 6,329,681     $ 773,588    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     824       16,478       -       27,081    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     244       19,038       36,114       6,792    
  

 

 

 

Net Investment Income (Loss)

     580       (2,560     (36,114     20,289    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     889       423,670       1,767,030       31,980    

Realized Gain (Loss) on Investments

     (15     28,724       (109,901     11,608    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     874       452,394       1,657,129       43,588    

Net Change in Unrealized Appreciation (Depreciation)

     (5,120     (710,626     (3,077,284     (202,606)   
  

 

 

 

Net Gain (Loss) on Investment

     (4,246     (258,232     (1,420,155     (159,018)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (3,666     (260,792     (1,456,269     (138,729)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     93,705       108,308       (80,008     136,942    
  

 

 

 

Total Increase (Decrease) in Net Assets

     90,039       (152,484     (1,536,277     (1,787)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 90,039     $ 2,594,770     $ 4,793,404     $ 771,801    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     1,179       26,377       -       8,432    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     908       17,191       33,401       7,013    
  

 

 

 

Net Investment Income (Loss)

     271       9,186       (33,401     1,419    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     1,395       242,617       184,578       -    

Realized Gain (Loss) on Investments

     26       (24,257     (495,804     (509)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     1,421       218,360       (311,226     (509)   

Net Change in Unrealized Appreciation (Depreciation)

     49,693       47,270       1,250,209       104,792    
  

 

 

 

Net Gain (Loss) on Investment

     51,114       265,630       938,983       104,283    

Net Increase (Decrease) in Net Assets Resulting from Operations

     51,385       274,816       905,582       105,702    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     294,834       (330,099     (833,829     (59,827)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     346,219       (55,283     71,753       45,875    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 436,258     $ 2,539,487     $ 4,865,157     $ 817,676    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   18


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

    

 TA WMC US Growth Initial Class 

Subaccount

   

 Vanguard® Equity Index 

Subaccount

   

 Vanguard® International 

Subaccount

   

Vanguard® Mid-Cap Index

Subaccount

 

Net Assets as of December 31, 2021:

    $ 11,036,591     $ 62,575,597     $ 18,982,511     $ 18,297,053    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     -       679,629       185,405       166,317    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     59,847       320,213       89,675       97,806    
  

 

 

 

Net Investment Income (Loss)

     (59,847     359,416       95,730       68,511    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     1,525,798       2,272,517       2,748,539       1,577,765    

Realized Gain (Loss) on Investments

     122,209       2,820,095       47,212       199,976    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     1,648,007       5,092,612       2,795,751       1,777,741    

Net Change in Unrealized Appreciation (Depreciation)

     (5,090,397     (16,668,245     (8,679,974     (5,280,832)   
  

 

 

 

Net Gain (Loss) on Investment

     (3,442,390     (11,575,633     (5,884,223     (3,503,091)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (3,502,237     (11,216,217     (5,788,493     (3,434,580)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     244,692       (6,620,457     (84,348     (1,478,244)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (3,257,545     (17,836,674     (5,872,841     (4,912,824)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 7,779,046     $ 44,738,923     $ 13,109,670     $ 13,384,229    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     3,398       700,246       213,632       195,187    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     59,515       305,602       86,030       86,405    
  

 

 

 

Net Investment Income (Loss)

     (56,117     394,644       127,602       108,782    

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     239,301       1,550,886       460,655       244,943    

Realized Gain (Loss) on Investments

     13,234       1,651,226       (101,640     74,611    
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     252,535       3,202,112       359,015       319,554    

Net Change in Unrealized Appreciation (Depreciation)

     2,801,152       7,300,614       1,368,052       1,456,359    
  

 

 

 

Net Gain (Loss) on Investment

     3,053,687       10,502,726       1,727,067       1,775,913    

Net Increase (Decrease) in Net Assets Resulting from Operations

     2,997,570       10,897,370       1,854,669       1,884,695    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (1,244,064     (3,645,409     (251,428     (1,718,361)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     1,753,506       7,251,961       1,603,241       166,334    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 9,532,552     $ 51,990,884     $ 14,712,911     $ 13,550,563    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   19


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

 

    

 Vanguard® Real Estate Index 

Subaccount

   

 Vanguard® Short-Term Investment 

Grade

Subaccount

   

 Vanguard® Total Bond Market 

Index

Subaccount

        Wanger Acorn    
Subaccount
 

Net Assets as of December 31, 2021:

    $ 19,250,096     $ 29,866,930     $ 42,814,906     $ 4,204,764    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     292,575       448,550       771,545       -    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     98,646       167,258       222,982       20,516    
  

 

 

 

Net Investment Income (Loss)

     193,929       281,292       548,563       (20,516)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     660,837       214,093       273,774       1,008,229    

Realized Gain (Loss) on Investments

     80,151       (206,441     (398,182     (336,018)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     740,988       7,652       (124,408     672,211    

Net Change in Unrealized Appreciation (Depreciation)

     (5,895,035     (2,121,676     (6,141,452     (2,025,627)   
  

 

 

 

Net Gain (Loss) on Investment

     (5,154,047     (2,114,024     (6,265,860     (1,353,416)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (4,960,118     (1,832,732     (5,717,297     (1,373,932)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (1,034,533     (3,449,195     (2,845,627     (388,630)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (5,994,651     (5,281,927     (8,562,924     (1,762,562)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 13,255,445     $ 24,585,003     $ 34,251,982     $ 2,442,202    
  

 

 

 

Investment Income:

        

Reinvested Dividends

     330,051       528,037       844,907       -    

Investment Expense:

        

Mortality and Expense Risk and Administrative Charges

     83,316       157,162       214,284       18,292    
  

 

 

 

Net Investment Income (Loss)

     246,735       370,875       630,623       (18,292)   

Increase (Decrease) in Net Assets from Operations:

        

Capital Gain Distributions

     622,662       -       -       -    

Realized Gain (Loss) on Investments

     (392,217     (140,011     (373,214     (219,548)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     230,445       (140,011     (373,214     (219,548)   

Net Change in Unrealized Appreciation (Depreciation)

     858,879       1,103,678       1,530,936       729,639    
  

 

 

 

Net Gain (Loss) on Investment

     1,089,324       963,667       1,157,722       510,091    

Net Increase (Decrease) in Net Assets Resulting from Operations

     1,336,059       1,334,542       1,788,345       491,799    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (1,158,776     (572,800     2,687,597       (176,249)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     177,283       761,742       4,475,942       315,550    
  

 

 

 

Net Assets as of December 31, 2023:

    $ 13,432,728     $ 25,346,745     $ 38,727,924     $ 2,757,752    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   20


Transamerica Life Insurance Company

Separate Account VA CC

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

 

 

        Wanger International   
Subaccount
 

Net Assets as of December 31, 2021:

    $       3,714,414    
  

 

 

 

Investment Income:

  

Reinvested Dividends

     23,639    

Investment Expense:

  

Mortality and Expense Risk and Administrative Charges

     24,883    
  

 

 

 

Net Investment Income (Loss)

     (1,244)   

Increase (Decrease) in Net Assets from Operations:

  

Capital Gain Distributions

     467,540    

Realized Gain (Loss) on Investments

     (71,371)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     396,169    

Net Change in Unrealized Appreciation (Depreciation)

     (1,657,916)   
  

 

 

 

Net Gain (Loss) on Investment

     (1,261,747)   

Net Increase (Decrease) in Net Assets Resulting from Operations

     (1,262,991)   
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (111,406)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (1,374,397)   
  

 

 

 

Net Assets as of December 31, 2022:

    $ 2,340,017    
  

 

 

 

Investment Income:

  

Reinvested Dividends

     5,932    

Investment Expense:

  

Mortality and Expense Risk and Administrative Charges

     20,170    
  

 

 

 

Net Investment Income (Loss)

     (14,238)   

Increase (Decrease) in Net Assets from Operations:

  

Capital Gain Distributions

     -    

Realized Gain (Loss) on Investments

     (339,701)   
  

 

 

 

Net Realized Capital Gains (Losses) on Investments

     (339,701)   

Net Change in Unrealized Appreciation (Depreciation)

     692,358    
  

 

 

 

Net Gain (Loss) on Investment

     352,657    

Net Increase (Decrease) in Net Assets Resulting from Operations

     338,419    
  

 

 

 

Increase (Decrease) in Net Assets from Contract Transactions

     (784,608)   
  

 

 

 

Total Increase (Decrease) in Net Assets

     (446,189)   
  

 

 

 

Net Assets as of December 31, 2023:

    $ 1,893,828    
  

 

 

 

 

See Accompanying Notes.

(1) See Footnote 1

   21


Transamerica Life Insurance Company

Separate Account VA CC

Notes to Financial Statements

December 31, 2023

 

 

1. Organization

Separate Account VA CC (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 Advisor’s Edge Select® Variable Annuity, Advisor’s Edge® Variable Annuity, Dimensional Variable Annuity, MarqueeSM Variable Annuity, Personal Manager® Variable Annuity, and PrismSM Variable Annuity.

 

Subaccount Investment by Mutual Fund:

 

  

Subaccount

  

Mutual Fund

AB Variable Products Series Fund, Inc.

  

AB Variable Products Series Fund, Inc.

AB Large Cap Growth Class B Shares

  

AB Large Cap Growth Portfolio Class B Shares

AB Sustainable Global Thematic Growth Class B Shares

  

AB Sustainable Global Thematic Growth Portfolio Class B Shares

Allspring Variable Trust

  

Allspring Variable Trust

Allspring VT Discovery SMID Cap Growth Class 2 Shares

  

Allspring VT Discovery SMID Cap Growth Fund Class 2 Shares

BNY Mellon Funds

  

BNY Mellon Funds

BNY Mellon Sustainable U.S. Equity Initial Shares

  

BNY Mellon Sustainable U.S. Equity Portfolio Initial Shares

BNY Mellon Sustainable U.S. Equity Service Shares

  

BNY Mellon Sustainable U.S. Equity Portfolio Service Shares

BNY Mellon VIF Appreciation Service Shares

  

BNY Mellon VIF Appreciation Portfolio Service Shares

BNY Mellon VIF Growth and Income Initial Shares

  

BNY Mellon VIF Growth and Income Portfolio Initial Shares

Calvert Variable Products, Inc.

  

Calvert Variable Products, Inc.

Calvert VP EAFE International Index Class I Shares

  

Calvert VP EAFE International Index Portfolio Class I Shares

Calvert Variable Series, Inc.

  

Calvert Variable Series, Inc.

Calvert VP SRI Balanced

  

Calvert VP SRI Balanced Portfolio

Calvert VP SRI Mid Cap

  

Calvert VP SRI Mid Cap Portfolio

Columbia Funds Variable Insurance Trust II

  

Columbia Funds Variable Insurance Trust II

Columbia - Select Mid Cap Growth Class 2 Shares

  

Columbia - Select Mid Cap Growth Fund Class 2 Shares

Columbia - Seligman Global Technology Class 2 Shares

  

Columbia - Seligman Global Technology Fund Class 2 Shares

Columbia Funds Variable Insurance Trust

  

Columbia Funds Variable Insurance Trust

Columbia - Small Company Growth Class 1 Shares

  

Columbia - Small Company Growth Fund Class 1 Shares

DFA Investment Dimensions Group, Inc.

  

DFA Investment Dimensions Group, Inc.

DFA VA Global Bond

  

DFA VA Global Bond Portfolio

DFA VA International Small

  

DFA VA International Small Portfolio

DFA VA International Value

  

DFA VA International Value Portfolio

DFA VA Short-Term Fixed

  

DFA VA Short-Term Fixed Portfolio

DFA VA U.S. Large Value

  

DFA VA U.S. Large Value Portfolio

DFA VA U.S. Targeted Value

  

DFA VA U.S. Targeted Value Portfolio

 

22


Transamerica Life Insurance Company

Separate Account VA CC

Notes to Financial Statements

December 31, 2023

 

 

1. Organization (continued)

 

Subaccount Investment by Mutual Fund:

 

  

Subaccount

  

Mutual Fund

Federated Insurance

  

Federated Insurance

Federated Hermes Fund for U.S. Government Securities II

  

Federated Hermes Fund for U.S. Government Securities II

Federated Hermes Government Money II Service Shares

  

Federated Hermes Government Money Fund II Service Shares

Federated Hermes High Income Bond II Primary Shares

  

Federated Hermes High Income Bond II Primary Shares

Federated Hermes Managed Volatility II Primary Shares

  

Federated Hermes Managed Volatility II Primary Shares

Fidelity® Variable Insurance Products Fund

  

Fidelity® Variable Insurance Products Fund

Fidelity® VIP Asset Manager Initial Class

  

Fidelity® VIP Asset Manager Portfolio Initial Class

Fidelity® VIP Contrafund® Initial Class

  

Fidelity® VIP Contrafund® Portfolio Initial Class

Fidelity® VIP Equity-Income Initial Class

  

Fidelity® VIP Equity-Income Portfolio Initial Class

Fidelity® VIP Government Money Market Initial Class

  

Fidelity® VIP Government Money Market Portfolio Initial Class

Fidelity® VIP Growth Initial Class

  

Fidelity® VIP Growth Portfolio Initial Class

Fidelity® VIP Mid Cap Initial Class

  

Fidelity® VIP Mid Cap Portfolio Initial Class

Fidelity® VIP Value Strategies Initial Class

  

Fidelity® VIP Value Strategies Portfolio Initial Class

Nationwide Variable Insurance Trust

  

Nationwide Variable Insurance Trust

NVIT Emerging Markets Class D Shares

  

NVIT Emerging Markets Fund Class D Shares

T. Rowe Price, Inc.

  

T. Rowe Price, Inc.

T. Rowe Price All-Cap Opportunities

  

T. Rowe Price All-Cap Opportunities Portfolio

T. Rowe Price Equity Income Service Class

  

T. Rowe Price Equity Income Portfolio Service Class

T. Rowe Price International Stock

  

T. Rowe Price International Stock Portfolio

Transamerica Series Trust

  

Transamerica Series Trust

TA Aegon Bond Initial Class

  

Transamerica Aegon Bond VP Initial Class

TA Aegon Sustainable Equity Income Initial Class

  

Transamerica Aegon Sustainable Equity Income VP Initial Class

TA BlackRock Government Money Market Initial Class

  

Transamerica BlackRock Government Money Market VP Initial Class

TA BlackRock Real Estate Securities Initial Class

  

Transamerica BlackRock Real Estate Securities VP Initial Class

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class

  

Transamerica Goldman Sachs Managed Risk - Balanced ETF VP Initial Class

TA Goldman Sachs Managed Risk - Growth ETF Initial Class

  

Transamerica Goldman Sachs Managed Risk - Growth ETF VP Initial Class

TA International Focus Initial Class

  

Transamerica International Focus VP Initial Class

TA Janus Mid-Cap Growth Initial Class

  

Transamerica Janus Mid-Cap Growth VP Initial Class

TA JPMorgan Asset Allocation - Conservative Initial Class

  

Transamerica JPMorgan Asset Allocation - Conservative VP Initial Class

TA JPMorgan Asset Allocation - Growth Initial Class

  

Transamerica JPMorgan Asset Allocation - Growth VP Initial Class

TA JPMorgan Asset Allocation - Moderate Initial Class

  

Transamerica JPMorgan Asset Allocation - Moderate VP Initial Class

TA JPMorgan Asset Allocation - Moderate Growth Initial Class

  

Transamerica JPMorgan Asset Allocation - Moderate Growth VP Initial Class

TA JPMorgan Enhanced Index Initial Class

  

Transamerica JPMorgan Enhanced Index VP Initial Class

TA Multi-Managed Balanced Initial Class

  

Transamerica Multi-Managed Balanced VP Initial Class

TA S&P 500 Index Initial Class

  

Transamerica S&P 500 Index VP Initial Class

TA Small/Mid Cap Value Initial Class

  

Transamerica Small/Mid Cap Value VP Initial Class

TA T. Rowe Price Small Cap Initial Class

  

Transamerica T. Rowe Price Small Cap VP Initial Class

TA TS&W International Equity Initial Class

  

Transamerica TS&W International Equity VP Initial Class

TA WMC US Growth Initial Class

  

Transamerica WMC US Growth VP Initial Class

Vanguard® Variable Insurance Fund

  

Vanguard® Variable Insurance Fund

Vanguard® Equity Index

  

Vanguard® Equity Index Portfolio

 

23


Transamerica Life Insurance Company

Separate Account VA CC

Notes to Financial Statements

December 31, 2023

 

 

 

1. Organization (continued)

 

 

Subaccount Investment by Mutual Fund:

 

Subaccount

  

Mutual Fund

Vanguard® Variable Insurance Fund

  

Vanguard® Variable Insurance Fund

Vanguard® International

  

Vanguard® International Portfolio

Vanguard® Mid-Cap Index

  

Vanguard® Mid-Cap Index Portfolio

Vanguard® Real Estate Index

  

Vanguard® Real Estate Index Portfolio

Vanguard® Short-Term Investment Grade

  

Vanguard® Short-Term Investment Grade Portfolio

Vanguard® Total Bond Market Index

  

Vanguard® Total Bond Market Index Portfolio

Wanger Advisors Trust

  

Wanger Advisors Trust

Wanger Acorn

  

Wanger Acorn

Wanger International

  

Wanger International

Each period reported on reflects a full twelve month period except as follows:

 

Subaccount

  

Inception Date

TA S&P 500 Index Initial Class

  

May 2, 2022

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

 

Subaccount

  

Formerly

Allspring VT Discovery SMID Cap Growth Class 2 Shares

  

Allspring VT Discovery Class 2 Shares

TA BlackRock Real Estate Securities Initial Class

  

TA BlackRock Global Real Estate Securities Initial 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 Initial Class

  

TA Morgan Stanley Capital Growth Initial 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.

 

24


Transamerica Life Insurance Company

Separate Account VA CC

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.

 

25


Transamerica Life Insurance Company

Separate Account VA CC

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 Large Cap Growth Class B Shares

   $ 18,000      $ 3,667  
   

AB Sustainable Global Thematic Growth Class B Shares

     11        29  
   

Allspring VT Discovery SMID Cap Growth Class 2 Shares

     -        -  
   

BNY Mellon Sustainable U.S. Equity Initial Shares

     376,396        544,670  
   

BNY Mellon Sustainable U.S. Equity Service Shares

     -        -  
   

BNY Mellon VIF Appreciation Service Shares

     5,088        8,800  
   

BNY Mellon VIF Growth and Income Initial Shares

     161,753        57,187  
   

Calvert VP EAFE International Index Class I Shares

     39,846        85,556  
   

Calvert VP SRI Balanced

     57,881        277,936  
   

Calvert VP SRI Mid Cap

     19,636        356,125  
   

Columbia - Select Mid Cap Growth Class 2 Shares

     11,702        49,061  
   

Columbia - Seligman Global Technology Class 2 Shares

     15,972        186,763  
   

Columbia - Small Company Growth Class 1 Shares

     -        71,894  
   

DFA VA Global Bond

          2,696,267             5,041,773  
   

DFA VA International Small

     1,447,488        4,220,809  
   

DFA VA International Value

     2,315,415        4,636,251  
   

DFA VA Short-Term Fixed

     3,176,302        5,592,459  
   

DFA VA U.S. Large Value

     3,298,621        8,878,088  
   

DFA VA U.S. Targeted Value

     3,913,169        8,058,933  
   

Federated Hermes Fund for U.S. Government Securities II

     394,871        234,016  
   

Federated Hermes Government Money II Service Shares

     1,328,070        3,092,196  
   

Federated Hermes High Income Bond II Primary Shares

     287,170        706,512  
   

Federated Hermes Managed Volatility II Primary Shares

     88,223        117,155  
   

Fidelity® VIP Asset Manager Initial Class

     26,011        91,576  
   

Fidelity® VIP Contrafund® Initial Class

     537,551        1,197,918  
   

Fidelity® VIP Equity-Income Initial Class

     60,577        120,645  
   

Fidelity® VIP Government Money Market Initial Class

     232,510        156,576  
   

Fidelity® VIP Growth Initial Class

     106,137        141,458  
   

Fidelity® VIP Mid Cap Initial Class

     103,909        169,187  
   

Fidelity® VIP Value Strategies Initial Class

     72,799        172,339  
   

NVIT Emerging Markets Class D Shares

     14,918        86,028  
   

T. Rowe Price All-Cap Opportunities

     137,477        165,547  
   

T. Rowe Price Equity Income Service Class

     69,605        27,781  
   

T. Rowe Price International Stock

     2,950        19,640  
   

TA Aegon Bond Initial Class

     825,903        2,886,333  
   

TA Aegon Sustainable Equity Income Initial Class

     83,129        492,601  

 

26


Transamerica Life Insurance Company

Separate Account VA CC

Notes to Financial Statements

December 31, 2023

 

 

3. Investments (continued)

 

 

 

Subaccount    Purchases      Sales  
   

TA BlackRock Government Money Market Initial Class

   $ 1,281,351      $ 546,441  
   

TA BlackRock Real Estate Securities Initial Class

     107,614        167,627  
   

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class

     132,784        142,855  
   

TA Goldman Sachs Managed Risk - Growth ETF Initial Class

     13,183        32,718  
   

TA International Focus Initial Class

     23,694        122,908  
   

TA Janus Mid-Cap Growth Initial Class

     633,999        98,564  
   

TA JPMorgan Asset Allocation - Conservative Initial Class

     20,780        174,620  
   

TA JPMorgan Asset Allocation - Growth Initial Class

     81,753        283,829  
   

TA JPMorgan Asset Allocation - Moderate Initial Class

     59,741        137,991  
   

TA JPMorgan Asset Allocation - Moderate Growth Initial Class

     89,638        87,260  
   

TA JPMorgan Enhanced Index Initial Class

     345,375        379,941  
   

TA Multi-Managed Balanced Initial Class

     268,297        215,082  
   

TA S&P 500 Index Initial Class

     297,383        883  
   

TA Small/Mid Cap Value Initial Class

     310,208        388,510  
   

TA T. Rowe Price Small Cap Initial Class

     306,551        989,226  
   

TA TS&W International Equity Initial Class

     18,305        76,711  
   

TA WMC US Growth Initial Class

     573,329        1,634,206  
   

Vanguard® Equity Index

          4,560,134             6,260,047  
   

Vanguard® International

     1,845,256        1,508,423  
   

Vanguard® Mid-Cap Index

     756,895        2,121,516  
   

Vanguard® Real Estate Index

     1,782,005        2,071,395  
   

Vanguard® Short-Term Investment Grade

     1,848,395        2,050,327  
   

Vanguard® Total Bond Market Index

     6,382,060        3,063,755  
   

Wanger Acorn

     18,632        213,186  
   

Wanger International

     78,217        877,060  

 

27


Transamerica Life Insurance Company

Separate Account VA CC

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 Large Cap Growth Class B Shares      -        (452     (452        -        (560     (560
             
AB Sustainable Global Thematic Growth Class B Shares      -        (15     (15        -        (14     (14
             
Allspring VT Discovery SMID Cap Growth Class 2 Shares      -        -       -          -        -       -  
             
BNY Mellon Sustainable U.S. Equity Initial Shares      4        (6,419     (6,415        258        (1,003     (745
             
BNY Mellon Sustainable U.S. Equity Service Shares      -        -       -          -        -       -  
             
BNY Mellon VIF Appreciation Service Shares      -        (2,001     (2,001        -        -       -  
             
BNY Mellon VIF Growth and Income Initial Shares      3        (445     (442        1        (171     (170
             
Calvert VP EAFE International Index Class I Shares      138        (47,534     (47,396        2,970        (15,911     (12,941
             
Calvert VP SRI Balanced      190        (5,146     (4,956        441        (6,133     (5,692
             
Calvert VP SRI Mid Cap      182        (4,848     (4,666        837        (3,761     (2,924
             
Columbia - Select Mid Cap Growth Class 2 Shares      4,603        (19,932     (15,329        398        (15,764     (15,366
             
Columbia - Seligman Global Technology Class 2 Shares      161        (22,612     (22,451        387        (491     (104
             
Columbia - Small Company Growth Class 1 Shares      -        (10,029     (10,029        630        (72,474     (71,844
             
DFA VA Global Bond      663,739        (2,914,235     (2,250,496        933,286        (3,301,999     (2,368,713
             
DFA VA International Small      170,599        (1,055,047     (884,448        368,173        (645,127     (276,954
             
DFA VA International Value      141,698        (1,489,836     (1,348,138        458,330        (1,309,228     (850,898
             
DFA VA Short-Term Fixed      1,193,603        (3,617,686     (2,424,083        1,489,623        (4,495,240     (3,005,617
             
DFA VA U.S. Large Value      257,316        (1,938,031     (1,680,715        257,613        (1,643,015     (1,385,402
             
DFA VA U.S. Targeted Value      142,623        (1,728,943     (1,586,320        48,081        (1,014,795     (966,714
             
Federated Hermes Fund for U.S. Government Securities II      260,195        (117,231     142,964          12,071        (336,859     (324,788
             
Federated Hermes Government Money II Service Shares      817,532        (2,369,643     (1,552,111        4,986,629        (3,612,065     1,374,564  
             
Federated Hermes High Income Bond II Primary Shares      27,518        (204,353     (176,835        185,519        (562,375     (376,856
             
Federated Hermes Managed Volatility II Primary Shares      12,068        (11,313     755          91,241        (194,733     (103,492
             
Fidelity® VIP Asset Manager Initial Class      256        (2,086     (1,830        -        (1,035     (1,035
             
Fidelity® VIP Contrafund® Initial Class      77,789        (303,374     (225,585        84,183        (254,332     (170,149
             
Fidelity® VIP Equity-Income Initial Class      25        (1,504     (1,479        53        (539     (486
             
Fidelity® VIP Government Money Market Initial Class      370        (8,014     (7,644        27        (5,403     (5,376

 

28


Transamerica Life Insurance Company

Separate Account VA CC

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) 
 
             
Fidelity® VIP Growth Initial Class      9        (944     (935        453        (2,028     (1,575
             
Fidelity® VIP Mid Cap Initial Class      14,112        (31,706     (17,594        10,153        (36,359     (26,206
             
Fidelity® VIP Value Strategies Initial Class      5,133        (40,448     (35,315        18,560        (40,203     (21,643
             
NVIT Emerging Markets Class D Shares      487        (7,707     (7,220        1,631        (12,278     (10,647
             
T. Rowe Price All-Cap Opportunities      164        (1,105     (941        1        (1,217     (1,216
             
T. Rowe Price Equity Income Service Class      -        (152     (152        4        (2,036     (2,032
             
T. Rowe Price International Stock      -        (644     (644        117        (2,522     (2,405
             
TA Aegon Bond Initial Class      431,998        (1,623,237     (1,191,239        576,841        (1,539,079     (962,238
             
TA Aegon Sustainable Equity Income Initial Class      20,321        (205,526     (185,205        10,396        (64,008     (53,612
             
TA BlackRock Government Money Market Initial Class      1,173,551        (530,737     642,814          1,196,020        (1,478,017     (281,997
             
TA BlackRock Real Estate Securities Initial Class      12,474        (37,023     (24,549        14,141        (73,760     (59,619
             
TA Goldman Sachs Managed Risk - Balanced ETF Initial Class      21,497        (80,498     (59,001        477,572        (14,657     462,915  
             
TA Goldman Sachs Managed Risk - Growth ETF Initial Class      357        (18,162     (17,805        2,069        (11,396     (9,327
             
TA International Focus Initial Class      4,403        (43,883     (39,480        7,911        (9,771     (1,860
             
TA Janus Mid-Cap Growth Initial Class      127,656        (27,197     100,459          28,509        (8,068     20,441  
             
TA JPMorgan Asset Allocation - Conservative Initial Class      1,134        (83,030     (81,896        2,890        (130,833     (127,943
             
TA JPMorgan Asset Allocation - Growth Initial Class      90        (78,864     (78,774        58,415        (9,260     49,155  
             
TA JPMorgan Asset Allocation - Moderate Initial Class      8,427        (52,899     (44,472        384        (54,265     (53,881
             
TA JPMorgan Asset Allocation - Moderate Growth Initial Class      16        (27,280     (27,264        7,722        (68,376     (60,654
             
TA JPMorgan Enhanced Index Initial Class      24,582        (48,087     (23,505        2,813        (17,801     (14,988
             
TA Multi-Managed Balanced Initial Class      66,360        (73,084     (6,724        4,979        (39,009     (34,030
             
TA S&P 500 Index Initial Class      275,644        -       275,644          96,187        -       96,187  
             
TA Small/Mid Cap Value Initial Class      4,327        (67,394     (63,067        63,225        (52,508     10,717  
             
TA T. Rowe Price Small Cap Initial Class      31,000        (241,187     (210,187        127,092        (151,404     (24,312
             
TA TS&W International Equity Initial Class      2,523        (22,057     (19,534        103,024        (24,473     78,551  
             
TA WMC US Growth Initial Class      64,820        (298,116     (233,296        227,599        (177,004     50,595  
             
Vanguard® Equity Index      466,938        (1,208,343     (741,405        507,972        (1,861,911     (1,353,939

 

29


Transamerica Life Insurance Company

Separate Account VA CC

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) 
 
             
Vanguard® International      574,857        (686,106     (111,249        1,006,244        (1,051,890     (45,646
             
Vanguard® Mid-Cap Index      64,862        (398,839     (333,977        115,808        (391,232     (275,424
             
Vanguard® Real Estate Index      215,908        (488,841     (272,933        133,499        (334,521     (201,022
             
Vanguard® Short-Term Investment Grade      877,226        (1,262,779     (385,553        647,179        (2,864,849     (2,217,670
             
Vanguard® Total Bond Market Index      3,449,974        (1,825,997     1,623,977          1,432,604        (3,074,676     (1,642,072
             
Wanger Acorn      3,948        (39,370     (35,422        17,294        (98,463     (81,169
             
Wanger International      17,357        (189,131     (171,774        29,173        (58,106     (28,933

 

30


Transamerica Life Insurance Company

Separate Account VA CC

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 Large Cap Growth Class B Shares   $ -     $ (2,052   $ (2,052     $ -     $ (2,380   $ (2,380
             
AB Sustainable Global Thematic Growth Class B Shares     -       (24     (24       -       (28     (28
             
Allspring VT Discovery SMID Cap Growth Class 2 Shares     -       -       -         -       -       -  
             
BNY Mellon Sustainable U.S. Equity Initial Shares     332       (516,681     (516,349       17,881       (68,328     (50,447
             
BNY Mellon Sustainable U.S. Equity Service Shares     -       -       -         -       1       1  
             
BNY Mellon VIF Appreciation Service Shares     -       (8,335     (8,335       -       1       1  
             
BNY Mellon VIF Growth and Income Initial Shares     269       (38,859     (38,590       62       (14,069     (14,007
             
Calvert VP EAFE International Index Class I Shares     217       (71,384     (71,167       4,427       (22,845     (18,418
             
Calvert VP SRI Balanced     9,386       (249,227     (239,841       22,526       (296,226     (273,700
             
Calvert VP SRI Mid Cap     11,989       (311,445     (299,456       58,349       (244,236     (185,887
             
Columbia - Select Mid Cap Growth Class 2 Shares     11,704       (48,421     (36,717       832       (40,498     (39,666
             
Columbia - Seligman Global Technology Class 2 Shares     884       (184,204     (183,320       2,083       (2,732     (649
             
Columbia - Small Company Growth Class 1 Shares     -       (65,059     (65,059       32,608       (446,309     (413,701
             
DFA VA Global Bond     1,240,543       (4,850,920     (3,610,377       1,701,170       (5,435,730     (3,734,560
             
DFA VA International Small     755,695       (4,095,983     (3,340,288       1,508,064       (2,793,068     (1,285,004
             
DFA VA International Value     644,281       (4,465,286     (3,821,005       1,215,396       (3,908,138     (2,692,742
             
DFA VA Short-Term Fixed     1,939,408       (5,412,470     (3,473,062       2,348,632       (5,993,048     (3,644,416
             
DFA VA U.S. Large Value     1,307,140       (8,601,747     (7,294,607       1,272,406       (8,089,894     (6,817,488
             
DFA VA U.S. Targeted Value     829,490       (7,863,704     (7,034,214       340,922       (5,547,827     (5,206,905
             
Federated Hermes Fund for U.S. Government Securities II     360,440       (225,062     135,378         30,754       (596,997     (566,243
             
Federated Hermes Government Money II Service Shares     1,055,039       (3,052,914     (1,997,875       5,814,524       (4,069,130     1,745,394  
             
Federated Hermes High Income Bond II Primary Shares     106,249       (685,319     (579,070       520,973       (1,673,874     (1,152,901
             
Federated Hermes Managed Volatility II Primary Shares     41,079       (94,408     (53,329       221,682       (491,481     (269,799
             
Fidelity® VIP Asset Manager Initial Class     11,311       (85,369     (74,058       -       (39,980     (39,980
             
Fidelity® VIP Contrafund® Initial Class     293,366       (1,154,062     (860,696       290,004       (946,622     (656,618
             
Fidelity® VIP Equity-Income Initial Class     1,984       (103,740     (101,756       3,341       (38,333     (34,992
             
Fidelity® VIP Government Money Market Initial Class     5,880       (114,878     (108,998       409       (72,091     (71,682
             
Fidelity® VIP Growth Initial Class     1,317       (112,799     (111,482       57,117       (212,428     (155,311

 

31


Transamerica Life Insurance Company

Separate Account VA CC

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)

 
             
Fidelity® VIP Mid Cap Initial Class   $ 70,668     $ (162,863   $ (92,195     $ 52,601     $ (185,355   $ (132,754
             
Fidelity® VIP Value Strategies Initial Class     20,219       (164,278     (144,059       73,151       (148,711     (75,560
             
NVIT Emerging Markets Class D Shares     5,018       (81,341     (76,323       20,734       (138,744     (118,010
             
T. Rowe Price All-Cap Opportunities     24,307       (144,553     (120,246       201       (145,288     (145,087
             
T. Rowe Price Equity Income Service Class     -       (13,280     (13,280       391       (162,750     (162,359
             
T. Rowe Price International Stock     -       (15,504     (15,504       2,366       (58,782     (56,416
             
TA Aegon Bond Initial Class     745,201       (2,825,628     (2,080,427       1,055,157       (2,838,713     (1,783,556
             
TA Aegon Sustainable Equity Income Initial Class     48,314       (477,263     (428,949       23,623       (155,889     (132,266
             
TA BlackRock Government Money Market Initial Class     1,181,781       (529,064     652,717         1,164,099       (1,433,858     (269,759
             
TA BlackRock Real Estate Securities Initial Class     41,694       (160,725     (119,031       52,760       (294,550     (241,790
             
TA Goldman Sachs Managed Risk - Balanced ETF Initial Class     35,709       (136,632     (100,923       791,412       (25,005     766,407  
             
TA Goldman Sachs Managed Risk - Growth ETF Initial Class     668       (30,793     (30,125       3,774       (20,292     (16,518
             
TA International Focus Initial Class     12,009       (119,132     (107,123       20,139       (24,703     (4,564
             
TA Janus Mid-Cap Growth Initial Class     444,830       (91,928     352,902         82,140       (30,278     51,862  
             
TA JPMorgan Asset Allocation - Conservative Initial Class     2,346       (168,469     (166,123       6,121       (266,534     (260,413
             
TA JPMorgan Asset Allocation - Growth Initial Class     307       (264,647     (264,340       225,423       (31,487     193,936  
             
TA JPMorgan Asset Allocation - Moderate Initial Class     21,826       (125,161     (103,335       986       (143,126     (142,140
             
TA JPMorgan Asset Allocation - Moderate Growth Initial Class     46       (77,923     (77,877       20,702       (190,321     (169,619
             
TA JPMorgan Enhanced Index Initial Class     188,134       (360,349     (172,215       20,779       (86,501     (65,722
             
TA Multi-Managed Balanced Initial Class     190,266       (202,380     (12,114       13,012       (100,887     (87,875
             
TA S&P 500 Index Initial Class     294,834       -       294,834         93,706       (1     93,705  
             
TA Small/Mid Cap Value Initial Class     41,519       (371,618     (330,099       472,604       (364,296     108,308  
             
TA T. Rowe Price Small Cap Initial Class     124,921       (958,750     (833,829       513,835       (593,843     (80,008
             
TA TS&W International Equity Initial Class     9,899       (69,726     (59,827       231,908       (94,966     136,942  
             
TA WMC US Growth Initial Class     335,074       (1,579,138     (1,244,064       1,111,249       (866,557     244,692  
             
Vanguard® Equity Index     2,347,434       (5,992,843     (3,645,409       2,454,042       (9,074,499     (6,620,457
             
Vanguard® International     1,190,662       (1,442,090     (251,428       2,126,256       (2,210,604     (84,348
             
Vanguard® Mid-Cap Index     334,478       (2,052,839     (1,718,361       591,003       (2,069,247     (1,478,244

 

32


Transamerica Life Insurance Company

Separate Account VA CC

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)

 
             
Vanguard® Real Estate Index   $ 861,769     $ (2,020,545   $ (1,158,776     $ 559,130     $ (1,593,663   $ (1,034,533
             
Vanguard® Short-Term Investment Grade     1,357,912       (1,930,712     (572,800       987,822       (4,437,017     (3,449,195
             
Vanguard® Total Bond Market Index     5,611,894       (2,924,297     2,687,597         2,418,096       (5,263,723     (2,845,627
             
Wanger Acorn     19,002       (195,251     (176,249       83,302       (471,932     (388,630
             
Wanger International     73,348       (857,956     (784,608       124,033       (235,439     (111,406

 

33


Transamerica Life Insurance Company

Separate Account VA CC

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 Large Cap Growth Class B Shares

 

       
    12/31/2023       52,604       $6.95       to       $24.72     $     278,279         -  %      0.55  %      to       2.70  %      34.05  %      to       31.26  % 
    12/31/2022       53,056       5.18       to       18.83       209,568         -       0.55       to       2.70       (29.08     to       (30.56
    12/31/2021       53,616       7.31       to       27.12       298,881         -       0.55       to       2.70       27.95       to       25.27  
    12/31/2020       54,616       5.71       to       21.65       237,815         -       0.55       to       2.70       34.41       to       31.60  
    12/31/2019       55,231       4.25       to       16.45       179,112         -       0.55       to       2.70       33.63       to       30.83  

AB Sustainable Global Thematic Growth Class B Shares

 

       
    12/31/2023       94       3.33       to       18.95       178         0.03       0.55       to       2.70       15.07       to       12.67  
    12/31/2022       109       2.89       to       16.81       181         -       0.55       to       2.70       (27.57     to       (29.08
    12/31/2021       123       3.99       to       23.71       285         -       0.55       to       2.70       21.90       to       19.35  
    12/31/2020       10,299       3.28       to       19.87       22,098         0.49       0.55       to       2.70       38.32       to       35.43  
    12/31/2019       13,583       2.37       to       14.67       21,429         0.16       0.55       to       2.70       29.07       to       26.37  

Allspring VT Discovery SMID Cap Growth Class 2 Shares

 

       
    12/31/2023       -       118.68       to       99.74       -         -       0.80       to       1.40       19.19       to       18.49  
    12/31/2022       -       99.57       to       84.18       -         -       0.80       to       1.40       (38.34     to       (38.71
    12/31/2021       -       161.49       to       137.33       -         -       0.80       to       1.40       (5.80     to       (6.35
    12/31/2020       -       171.43       to       146.65       -         -       0.80       to       1.40       61.36       to       60.41  
    12/31/2019       -       106.24       to       91.42       -         -       0.80       to       1.40       37.92       to       37.10  

BNY Mellon Sustainable U.S. Equity Initial Shares

 

       
    12/31/2023       35,278       88.90       to       70.91       2,896,359         0.77       0.80       to       1.40       22.84       to       22.12  
    12/31/2022       41,693       72.37       to       58.07       2,815,633         0.52       0.80       to       1.40       (23.48     to       (23.94
    12/31/2021       42,438       94.58       to       76.34       3,746,484         0.76       0.80       to       1.40       25.99       to       25.24  
    12/31/2020       40,949       75.07       to       60.95       2,853,761         1.09       0.80       to       1.40       23.16       to       22.43  
    12/31/2019       42,462       60.95       to       49.79       2,399,073         1.46       0.80       to       1.40       33.29       to       32.50  

BNY Mellon Sustainable U.S. Equity Service Shares

 

       
    12/31/2023       -       4.56       to       17.97       -         0.40       0.55       to       2.70       22.83       to       20.27  
    12/31/2022       -       3.71       to       14.94       -         0.41       0.55       to       2.70       (23.48     to       (25.08
    12/31/2021       -       4.85       to       19.94       -         0.75       0.55       to       2.70       25.99       to       23.35  
    12/31/2020       -       3.85       to       16.17       -         0.99       0.55       to       2.70       23.18       to       20.60  
    12/31/2019       -       3.13       to       13.40       -         1.17       0.55       to       2.70       33.28       to       30.49  

BNY Mellon VIF Appreciation Service Shares

 

       
    12/31/2023       12,489       4.77       to       20.33       52,742         0.47       0.55       to       2.70       20.01       to       17.51  
    12/31/2022       14,490       3.97       to       17.30       51,729         0.43       0.55       to       2.70       (18.70     to       (20.40
    12/31/2021       14,490       4.89       to       21.74       63,838         0.20       0.55       to       2.70       26.08       to       23.44  
    12/31/2020       14,490       3.88       to       17.61       50,801         0.55       0.55       to       2.70       22.71       to       20.14  
    12/31/2019       15,718       3.16       to       14.66       44,723         0.92       0.55       to       2.70       35.04       to       32.21  

BNY Mellon VIF Growth and Income Initial Shares

 

       
    12/31/2023       15,690       117.79       to       96.15       1,557,609         0.66       0.80       to       1.40       25.68       to       24.94  
    12/31/2022       16,132       93.72       to       76.95       1,279,811         0.80       0.80       to       1.40       (15.49     to       (15.99
    12/31/2021       16,302       110.90       to       91.60       1,538,142         0.47       0.80       to       1.40       24.63       to       23.90  
    12/31/2020       17,266       88.98       to       73.93       1,311,918         0.77       0.80       to       1.40       23.64       to       22.91  
    12/31/2019       18,652       71.97       to       60.15       1,162,656         1.09       0.80       to       1.40       28.10       to       27.34  

Calvert VP EAFE International Index Class I Shares

 

       
    12/31/2023       846,567       1.73       to       1.60       1,415,813         2.92       0.80       to       1.40       16.84       to       16.15  
    12/31/2022       893,963       1.48       to       1.37       1,279,955         3.53       0.80       to       1.40       (15.26     to       (15.76
    12/31/2021       906,904       1.75       to       1.63       1,536,025         1.78       0.80       to       1.40       10.00       to       9.34  
    12/31/2020       941,692       1.59       to       1.49       1,453,317         3.36       0.80       to       1.40       6.92       to       6.28  
    12/31/2019       1,015,354       1.49       to       1.40       1,467,088         2.53       0.80       to       1.40       20.30       to       19.59  

 

34


Transamerica Life Insurance Company

Separate Account VA CC

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

 

 

     

 

 

 

Calvert VP SRI Balanced

 

       
     12/31/2023       45,438       $63.14       to       $52.57     $   2,562,338         1.57  %      0.80  %      to       1.40  %      15.89  %      to       15.21  % 
     12/31/2022       50,394       54.48       to       45.63       2,446,397         1.15       0.80       to       1.40       (16.08     to       (16.58
     12/31/2021       56,086       64.93       to       54.69       3,242,562         1.15       0.80       to       1.40       14.20       to       13.53  
     12/31/2020       62,808       56.85       to       48.18       3,181,454         1.51       0.80       to       1.40       14.34       to       13.67  
     12/31/2019       70,248       49.72       to       42.38       3,113,543         1.53       0.80       to       1.40       23.42       to       22.69  

Calvert VP SRI Mid Cap

 

       
     12/31/2023       62,127       79.28       to       66.04       4,605,263         0.19       0.80       to       1.40       10.76       to       10.10  
     12/31/2022       66,793       71.58       to       59.98       4,454,316         -       0.80       to       1.40       (20.12     to       (20.60
     12/31/2021       69,717       89.61       to       75.54       5,815,421         0.20       0.80       to       1.40       14.11       to       13.44  
     12/31/2020       76,169       78.53       to       66.59       5,584,530         0.44       0.80       to       1.40       11.36       to       10.70  
     12/31/2019       79,801       70.52       to       60.15       5,248,573         0.43       0.80       to       1.40       30.32       to       29.55  

Columbia - Select Mid Cap Growth Class 2 Shares

 

       
     12/31/2023       34,007       2.79       to       17.37       93,417         -       0.55       to       2.70       24.24       to       21.65  
     12/31/2022       49,336       2.25       to       14.28       109,494         -       0.55       to       2.70       (31.39     to       (32.82
     12/31/2021       64,702       3.28       to       21.26       209,656         -       0.55       to       2.70       15.64       to       13.21  
     12/31/2020       84,175       2.83       to       18.78       236,222         -       0.55       to       2.70       34.34       to       31.53  
     12/31/2019       92,739       2.11       to       14.28       193,919         -       0.55       to       2.70       34.09       to       31.29  

Columbia - Seligman Global Technology Class 2 Shares

 

       
     12/31/2023       25,174       12.29       to       31.19       217,174         -       0.55       to       2.70       44.08       to       41.08  
     12/31/2022       47,625       8.53       to       22.11       303,930         -       0.55       to       2.70       (32.23     to       (33.65
     12/31/2021       47,729       12.59       to       33.32       450,742         0.28       0.55       to       2.70       37.93       to       35.04  
     12/31/2020       48,530       9.12       to       24.67       332,576         -       0.55       to       2.70       45.00       to       41.97  
     12/31/2019       48,837       6.29       to       17.38       231,303         -       0.55       to       2.70       54.12       to       50.90  

Columbia - Small Company Growth Class 1 Shares

 

       
     12/31/2023       167,674       4.86       to       19.86       1,029,644         -       0.55       to       2.70       25.94       to       23.31  
     12/31/2022       177,703       3.86       to       16.10       875,622         -       0.55       to       2.70       (36.12     to       (37.46
     12/31/2021       249,547       6.04       to       25.75       1,905,581         -       0.55       to       2.70       (3.43     to       (5.46
     12/31/2020       327,396       6.25       to       27.23       2,659,427         -       0.55       to       2.70       70.19       to       66.63  
     12/31/2019       345,888       3.67       to       16.34       1,645,574         -       0.55       to       2.70       39.93       to       37.00  

DFA VA Global Bond

 

       
     12/31/2023       23,248,633       1.48       to       9.44       38,845,826         3.79       0.55       to       1.85       4.48       to       3.15  
     12/31/2022       25,499,129       1.41       to       9.15       40,741,070         1.53       0.55       to       1.85       (6.84     to       (8.03
     12/31/2021       27,867,842       1.52       to       9.95       47,721,430         0.72       0.55       to       1.85       (1.58     to       (2.84
     12/31/2020       29,138,046       1.54       to       10.24       50,955,010         0.03       0.55       to       1.85       0.90       to       (0.38
     12/31/2019       32,238,656       1.53       to       10.28       55,404,885         2.39       0.55       to       1.85       3.61       to       2.29  

DFA VA International Small

 

       
     12/31/2023       5,152,207       3.59       to       13.53       24,131,509         3.01       0.55       to       1.85       13.49       to       12.04  
     12/31/2022       6,036,655       3.17       to       12.08       24,431,436         2.49       0.55       to       1.85       (18.09     to       (19.14
     12/31/2021       6,313,609       3.87       to       14.94       31,416,540         2.48       0.55       to       1.85       13.94       to       12.48  
     12/31/2020       7,216,991       3.39       to       13.28       31,676,510         2.09       0.55       to       1.85       8.82       to       7.43  
     12/31/2019       8,121,381       3.12       to       12.36       32,934,967         2.65       0.55       to       1.85       23.22       to       21.65  

DFA VA International Value

 

       
     12/31/2023       8,786,656       2.76       to       1.54       30,818,028         4.62       0.55       to       1.85       17.22       to       15.73  
     12/31/2022       10,134,794       2.36       to       1.33       29,812,510         3.84       0.55       to       1.85       (3.98     to       (5.21
     12/31/2021       10,985,692       2.46       to       1.40       33,820,327         3.82       0.55       to       1.85       17.47       to       15.97  
     12/31/2020       12,904,472       2.09       to       1.21       33,746,520         2.47       0.55       to       1.85       (2.30     to       (3.55
     12/31/2019       13,596,196       2.14       to       1.25       36,569,767         3.38       0.55       to       1.85       15.23       to       13.75  

DFA VA Short-Term Fixed

 

       
     12/31/2023       24,287,441       1.22       to       0.89       33,978,984         3.67       0.55       to       1.85       4.41       to       3.08  
     12/31/2022       26,711,524       1.17       to       0.87       35,979,779         1.23       0.55       to       1.85       (1.70     to       (2.95
     12/31/2021       29,717,141       1.19       to       0.89       40,351,533         0.01       0.55       to       1.85       (0.74     to       (2.00
     12/31/2020       31,697,923       1.20       to       0.91       43,002,159         0.58       0.55       to       1.85       0.05       to       (1.23
     12/31/2019       35,259,166       1.20       to       0.92       47,426,386         2.16       0.55       to       1.85       1.95       to       0.66  

 

35


Transamerica Life Insurance Company

Separate Account VA CC

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

 

 

     

 

 

 

DFA VA U.S. Large Value

 

       
     12/31/2023       11,963,497       $4.47       to       $3.07     $   60,020,930         2.19  %      0.55  %      to       1.85  %      10.32  %      to       8.91  % 
     12/31/2022       13,644,212       4.05       to       2.81       61,627,910         2.16       0.55       to       1.85       (5.40     to       (6.60
     12/31/2021       15,029,614       4.28       to       3.01       72,246,267         1.63       0.55       to       1.85       26.34       to       24.73  
     12/31/2020       19,467,224       3.39       to       2.42       73,045,236         2.24       0.55       to       1.85       (1.92     to       (3.17
     12/31/2019       21,125,053       3.46       to       2.50       81,185,768         2.09       0.55       to       1.85       25.10       to       23.50  

DFA VA U.S. Targeted Value

 

       
     12/31/2023       6,098,337       4.75       to       3.45       40,169,288         1.50       0.55       to       1.85       19.38       to       17.86  
     12/31/2022       7,684,657       3.98       to       2.92       40,595,522         1.26       0.55       to       1.85       (4.74     to       (5.95
     12/31/2021       8,651,371       4.18       to       3.11       48,092,886         1.33       0.55       to       1.85       38.92       to       37.15  
     12/31/2020       11,300,609       3.01       to       2.27       44,929,524         1.80       0.55       to       1.85       3.41       to       2.09  
     12/31/2019       12,158,691       2.91       to       2.22       47,511,991         1.41       0.55       to       1.85       21.89       to       20.33  

Federated Hermes Fund for U.S. Government Securities II

 

       
     12/31/2023       882,041       1.41       to       8.49       1,635,901         2.50       0.55       to       2.70       3.62       to       1.46  
     12/31/2022       739,077       1.36       to       8.37       1,431,467         1.93       0.55       to       2.70       (13.03     to       (14.84
     12/31/2021       1,063,865       1.56       to       9.83       2,241,897         2.34       0.55       to       2.70       (2.58     to       (4.62
     12/31/2020       1,539,179       1.60       to       10.30       3,335,910         2.20       0.55       to       2.70       4.64       to       2.45  
     12/31/2019       1,338,100       1.53       to       10.06       2,917,100         2.44       0.55       to       2.70       5.32       to       3.11  

Federated Hermes Government Money II Service Shares

 

       
     12/31/2023       4,604,783       1.14       to       9.07       5,873,826         4.42       0.55       to       2.70       3.95       to       1.78  
     12/31/2022       6,156,894       1.10       to       8.91       7,638,038         1.20       0.55       to       2.70       0.61       to       (1.50
     12/31/2021       4,782,330       1.09       to       9.05       5,852,319         -       0.55       to       2.70       (0.55     to       (2.63
     12/31/2020       5,268,350       1.10       to       9.29       6,499,923         0.19       0.55       to       2.70       (0.35     to       (2.43
     12/31/2019       5,912,615       1.10       to       9.52       7,367,495         1.80       0.55       to       2.70       1.09       to       (1.03

Federated Hermes High Income Bond II Primary Shares

 

       
     12/31/2023       739,875       2.87       to       10.86       2,889,650         6.00       0.55       to       2.70       12.10       to       9.76  
     12/31/2022       916,710       2.56       to       9.90       3,131,730         5.60       0.55       to       2.70       (12.26     to       (14.09
     12/31/2021       1,293,566       2.92       to       11.52       4,837,118         4.92       0.55       to       2.70       4.27       to       2.09  
     12/31/2020       1,178,424       2.80       to       11.29       4,610,539         6.03       0.55       to       2.70       5.01       to       2.81  
     12/31/2019       1,543,127       2.67       to       10.98       5,495,361         6.13       0.55       to       2.70       13.92       to       11.53  

Federated Hermes Managed Volatility II Primary Shares

 

       
     12/31/2023       943,133       3.16       to       12.01       2,675,145         1.87       0.55       to       2.70       8.09       to       5.83  
     12/31/2022       942,378       2.93       to       11.35       2,534,155         1.94       0.55       to       2.70       (14.23     to       (16.02
     12/31/2021       1,045,870       3.41       to       13.51       3,270,345         1.79       0.55       to       2.70       17.86       to       15.40  
     12/31/2020       1,081,706       2.90       to       11.71       2,904,976         2.57       0.55       to       2.70       0.38       to       (1.72
     12/31/2019       1,100,375       2.89       to       11.91       2,935,662         3.14       0.55       to       2.70       19.57       to       17.07  

Fidelity® VIP Asset Manager Initial Class

 

       
     12/31/2023       10,575       48.99       to       40.38       427,812         2.13       0.80       to       1.40       12.05       to       11.39  
     12/31/2022       12,405       43.72       to       36.25       454,445         2.00       0.80       to       1.40       (15.61     to       (16.11
     12/31/2021       13,440       51.81       to       43.21       587,881         1.63       0.80       to       1.40       9.05       to       8.40  
     12/31/2020       13,666       47.51       to       39.86       551,767         1.52       0.80       to       1.40       13.96       to       13.28  
     12/31/2019       13,923       41.69       to       35.19       496,538         1.79       0.80       to       1.40       17.31       to       16.62  

Fidelity® VIP Contrafund® Initial Class

 

       
     12/31/2023       1,495,879       4.54       to       20.19       6,598,135         0.47       0.55       to       2.70       32.72       to       29.96  
     12/31/2022       1,721,464       3.42       to       15.54       5,694,931         0.51       0.55       to       2.70       (26.72     to       (28.25
     12/31/2021       1,891,613       4.66       to       21.66       8,519,292         0.06       0.55       to       2.70       27.14       to       24.48  
     12/31/2020       2,201,598       3.67       to       17.40       7,804,092         0.25       0.55       to       2.70       29.85       to       27.14  
     12/31/2019       2,579,155       2.83       to       13.69       7,055,159         0.42       0.55       to       2.70       30.86       to       28.12  

Fidelity® VIP Equity-Income Initial Class

 

       
     12/31/2023       17,369       87.58       to       72.50       1,273,813         1.87       0.80       to       1.40       9.77       to       9.12  
     12/31/2022       18,848       79.78       to       66.44       1,265,975         1.90       0.80       to       1.40       (5.71     to       (6.27
     12/31/2021       19,334       84.61       to       70.88       1,387,546         1.87       0.80       to       1.40       23.90       to       23.17  
     12/31/2020       20,412       68.29       to       57.55       1,189,061         1.76       0.80       to       1.40       5.85       to       5.22  
     12/31/2019       23,212       64.52       to       54.69       1,283,642         1.91       0.80       to       1.40       26.43       to       25.68  

 

36


Transamerica Life Insurance Company

Separate Account VA CC

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

 

 

     

 

 

 

Fidelity® VIP Government Money Market Initial Class

 

       
     12/31/2023       305,972       $16.05       to       $13.50     $   4,781,912         4.79  %      0.80  %      to       1.40  %      4.06  %      to       3.45  % 
     12/31/2022       313,616       15.43       to       13.05       4,706,059         1.42       0.80       to       1.40       0.63       to       0.04  
     12/31/2021       318,992       15.33       to       13.05       4,752,589         0.01       0.80       to       1.40       (0.78     to       (1.37
     12/31/2020       89,574       15.45       to       13.23       1,245,806         0.29       0.80       to       1.40       (0.48     to       (1.07
     12/31/2019       74,657       15.53       to       13.37       1,061,582         2.02       0.80       to       1.40       1.21       to       0.61  

Fidelity® VIP Growth Initial Class

 

       
     12/31/2023       18,079       164.78       to       132.04       2,446,599         0.13       0.80       to       1.40       35.16       to       34.36  
     12/31/2022       19,014       121.92       to       98.27       1,913,799         0.61       0.80       to       1.40       (25.06     to       (25.50
     12/31/2021       20,589       162.68       to       131.90       2,763,678         -       0.80       to       1.40       22.24       to       21.51  
     12/31/2020       20,805       133.08       to       108.55       2,297,609         0.07       0.80       to       1.40       42.75       to       41.91  
     12/31/2019       21,701       93.23       to       76.49       1,687,443         0.25       0.80       to       1.40       33.25       to       32.46  

Fidelity® VIP Mid Cap Initial Class

 

       
     12/31/2023       190,493       5.67       to       15.21       1,061,380         0.58       0.55       to       2.70       14.45       to       12.06  
     12/31/2022       208,087       4.95       to       13.57       1,014,474         0.49       0.55       to       2.70       (15.21     to       (16.98
     12/31/2021       234,293       5.84       to       16.35       1,347,811         0.50       0.55       to       2.70       24.92       to       22.30  
     12/31/2020       371,942       4.68       to       13.37       1,714,558         0.66       0.55       to       2.70       17.54       to       15.08  
     12/31/2019       355,373       3.98       to       11.61       1,393,530         0.84       0.55       to       2.70       22.77       to       20.20  

Fidelity® VIP Value Strategies Initial Class

 

       
     12/31/2023       256,428       4.63       to       17.70       1,134,123         1.14       0.55       to       2.70       20.19       to       17.68  
     12/31/2022       291,743       3.86       to       15.04       1,080,807         1.09       0.55       to       2.70       (7.53     to       (9.47
     12/31/2021       313,386       4.17       to       16.61       1,257,436         1.41       0.55       to       2.70       32.87       to       30.09  
     12/31/2020       404,479       3.14       to       12.77       1,230,215         1.32       0.55       to       2.70       7.67       to       5.41  
     12/31/2019       447,774       2.92       to       12.12       1,258,986         1.71       0.55       to       2.70       33.79       to       30.99  

NVIT Emerging Markets Class D Shares

 

       
     12/31/2023       61,716       10.95       to       9.69       669,656         1.41       0.55       to       2.70       3.24       to       1.08  
     12/31/2022       68,936       10.61       to       9.59       725,724         0.16       0.55       to       2.70       (25.41     to       (26.97
     12/31/2021       79,583       14.22       to       13.13       1,124,940         0.91       0.55       to       2.70       (8.09     to       (10.02
     12/31/2020       91,504       15.48       to       14.59       1,409,216         1.59       0.55       to       2.70       12.30       to       9.95  
     12/31/2019       116,591       13.78       to       13.27       1,601,189         1.99       0.55       to       2.70       21.91       to       19.36  

T. Rowe Price All-Cap Opportunities

 

       
     12/31/2023       11,733       164.59       to       140.98       1,660,241         0.25       0.80       to       1.40       27.94       to       27.19  
     12/31/2022       12,674       128.64       to       110.84       1,413,050         -       0.80       to       1.40       (22.13     to       (22.59
     12/31/2021       13,890       165.21       to       143.19       2,000,674         -       0.80       to       1.40       19.84       to       19.13  
     12/31/2020       15,118       137.86       to       120.20       1,827,031         -       0.80       to       1.40       43.23       to       42.38  
     12/31/2019       17,174       96.25       to       84.42       1,459,877         0.41       0.80       to       1.40       33.86       to       33.07  

T. Rowe Price Equity Income Service Class

 

       
     12/31/2023       13,609       101.33       to       83.55       1,151,851         2.10       0.80       to       1.40       8.67       to       8.03  
     12/31/2022       13,761       93.24       to       77.34       1,078,861         1.82       0.80       to       1.40       (4.11     to       (4.67
     12/31/2021       15,793       97.24       to       81.13       1,299,466         1.56       0.80       to       1.40       24.55       to       23.82  
     12/31/2020       17,258       78.07       to       65.52       1,146,068         2.34       0.80       to       1.40       0.38       to       (0.21
     12/31/2019       18,815       77.77       to       65.66       1,251,363         2.31       0.80       to       1.40       25.40       to       24.65  

T. Rowe Price International Stock

 

       
     12/31/2023       11,822       31.62       to       26.19       310,630         0.98       0.80       to       1.40       15.32       to       14.64  
     12/31/2022       12,466       27.42       to       22.84       285,643         0.72       0.80       to       1.40       (16.48     to       (16.98
     12/31/2021       14,871       32.83       to       27.52       410,209         0.58       0.80       to       1.40       0.52       to       (0.08
     12/31/2020       16,566       32.66       to       27.54       457,169         0.58       0.80       to       1.40       13.54       to       12.87  
     12/31/2019       18,962       28.77       to       24.40       463,461         2.33       0.80       to       1.40       26.76       to       26.01  

TA Aegon Bond Initial Class

 

       
     12/31/2023       5,130,244       1.74       to       9.15       9,158,563         0.89       0.55       to       2.70       5.87       to       3.66  
     12/31/2022       6,321,483       1.64       to       8.83       10,719,881         2.64       0.55       to       2.70       (15.30     to       (17.07
     12/31/2021       7,283,721       1.94       to       10.64       14,711,246         1.52       0.55       to       2.70       (1.42     to       (3.48
     12/31/2020       8,538,220       1.96       to       11.03       17,536,967         4.13       0.55       to       2.70       7.10       to       4.85  
     12/31/2019       9,984,141       1.83       to       10.52       19,120,662         2.43       0.55       to       2.70       7.82       to       5.56  

 

37


Transamerica Life Insurance Company

Separate Account VA CC

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 Aegon Sustainable Equity Income Initial Class

 

       
     12/31/2023       610,957       $2.59       to       $11.18     $   1,492,516         2.11  %      0.55  %      to       2.70  %      5.70  %      to       3.49  % 
     12/31/2022       796,162       2.45       to       10.80       1,844,875         2.18       0.55       to       2.70       (12.11     to       (13.95
     12/31/2021       849,774       2.79       to       12.55       2,249,778         2.10       0.55       to       2.70       21.75       to       19.21  
     12/31/2020       948,301       2.29       to       10.53       2,073,723         2.97       0.55       to       2.70       (7.86     to       (9.79
     12/31/2019       1,019,881       2.49       to       11.67       2,438,100         2.49       0.55       to       2.70       23.23       to       20.65  

TA BlackRock Government Money Market Initial Class

 

       
     12/31/2023       2,759,033       1.02       to       0.96       2,799,738         4.78       0.80       to       1.40       4.03       to       3.42  
     12/31/2022       2,116,219       0.98       to       0.93       2,064,856         1.38       0.80       to       1.40       0.60       to       0.01  
     12/31/2021       2,398,216       0.97       to       0.93       2,323,103         0.00       0.80       to       1.40       (0.78     to       (1.38
     12/31/2020       3,204,719       0.98       to       0.94       3,135,245         0.27       0.80       to       1.40       (0.50     to       (1.10
     12/31/2019       2,591,649       0.99       to       0.95       2,547,526         1.95       0.80       to       1.40       1.16       to       0.57  

TA BlackRock Real Estate Securities Initial Class

 

       
     12/31/2023       304,738       2.94       to       10.80       1,176,893         5.82       0.55       to       2.70       12.71       to       10.36  
     12/31/2022       329,287       2.61       to       9.79       1,160,178         3.48       0.55       to       2.70       (28.58     to       (30.08
     12/31/2021       388,906       3.65       to       14.00       1,948,142         2.51       0.55       to       2.70       25.53       to       22.91  
     12/31/2020       415,863       2.91       to       11.39       1,646,506         12.37       0.55       to       2.70       (0.86     to       (2.94
     12/31/2019       463,941       2.93       to       11.73       1,919,460         0.82       0.55       to       2.70       24.51       to       21.90  

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class

 

       
     12/31/2023       622,776       1.83       to       11.68       1,141,403         1.77       0.55       to       2.70       12.79       to       10.44  
     12/31/2022       681,777       1.63       to       10.57       1,107,107         2.48       0.55       to       2.70       (14.54     to       (16.33
     12/31/2021       218,862       1.90       to       12.64       415,950         1.37       0.55       to       2.70       9.05       to       6.77  
     12/31/2020       222,017       1.75       to       11.84       386,948         2.46       0.55       to       2.70       3.91       to       1.74  
     12/31/2019       276,906       1.68       to       11.63       464,598         2.24       0.55       to       2.70       15.29       to       12.87  

TA Goldman Sachs Managed Risk - Growth ETF Initial Class

 

       
     12/31/2023       151,993       2.10       to       13.20       315,133         1.64       0.55       to       2.70       17.44       to       14.99  
     12/31/2022       169,798       1.79       to       11.48       296,697         1.71       0.55       to       2.70       (14.78     to       (16.57
     12/31/2021       179,125       2.10       to       13.76       367,954         1.12       0.55       to       2.70       13.62       to       11.24  
     12/31/2020       181,758       1.84       to       12.37       328,967         2.15       0.55       to       2.70       3.95       to       1.77  
     12/31/2019       166,582       1.77       to       12.15       290,004         2.02       0.55       to       2.70       19.09       to       16.59  

TA International Focus Initial Class

 

       
     12/31/2023       187,315       2.89       to       13.44       527,263         2.02       0.55       to       2.70       11.92       to       9.58  
     12/31/2022       226,795       2.58       to       12.26       572,553         3.07       0.55       to       2.70       (20.48     to       (22.14
     12/31/2021       228,655       3.25       to       15.75       726,451         1.32       0.55       to       2.70       10.21       to       7.91  
     12/31/2020       217,413       2.95       to       14.59       612,750         2.17       0.55       to       2.70       20.24       to       17.72  
     12/31/2019       223,861       2.45       to       12.40       525,553         1.38       0.55       to       2.70       26.98       to       24.33  

TA Janus Mid-Cap Growth Initial Class

 

       
     12/31/2023       301,136       5.08       to       19.40       1,140,937         -       0.55       to       2.70       16.40       to       13.98  
     12/31/2022       200,677       4.37       to       17.02       652,871         -       0.55       to       2.70       (17.17     to       (18.90
     12/31/2021       180,236       5.27       to       20.99       715,592         0.23       0.55       to       2.70       16.66       to       14.22  
     12/31/2020       237,873       4.52       to       18.38       799,233         0.22       0.55       to       2.70       18.55       to       16.07  
     12/31/2019       299,397       3.81       to       15.83       832,121         0.07       0.55       to       2.70       35.96       to       33.12  

TA JPMorgan Asset Allocation - Conservative Initial Class

 

       
     12/31/2023       384,678       2.14       to       10.96       842,518         2.11       0.55       to       2.70       6.47       to       4.24  
     12/31/2022       466,574       2.01       to       10.51       956,047         5.79       0.55       to       2.70       (15.82     to       (17.58
     12/31/2021       594,517       2.38       to       12.75       1,444,170         2.63       0.55       to       2.70       5.32       to       3.12  
     12/31/2020       498,044       2.26       to       12.37       1,165,906         2.59       0.55       to       2.70       10.86       to       8.54  
     12/31/2019       550,913       2.04       to       11.39       1,169,242         2.62       0.55       to       2.70       13.28       to       10.91  

TA JPMorgan Asset Allocation - Growth Initial Class

 

       
     12/31/2023       772,874       3.59       to       16.16       2,834,476         1.68       0.55       to       2.70       19.68       to       17.19  
     12/31/2022       851,648       3.00       to       13.79       2,620,118         6.06       0.55       to       2.70       (22.99     to       (24.60
     12/31/2021       802,493       3.89       to       18.29       3,204,091         1.67       0.55       to       2.70       18.99       to       16.50  
     12/31/2020       821,743       3.27       to       15.70       2,762,772         1.69       0.55       to       2.70       24.06       to       21.46  
     12/31/2019       849,455       2.64       to       12.93       2,306,445         1.74       0.55       to       2.70       25.36       to       22.74  

 

38


Transamerica Life Insurance Company

Separate Account VA CC

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 Asset Allocation - Moderate Initial Class

 

       
     12/31/2023       540,424       $2.52       to       $11.99     $   1,348,195         2.09  %      0.55  %      to       2.70  %      8.51  %      to       6.24  % 
     12/31/2022       584,896       2.32       to       11.28       1,348,333         5.05       0.55       to       2.70       (16.53     to       (18.28
     12/31/2021       638,777       2.78       to       13.81       1,785,318         1.95       0.55       to       2.70       8.58       to       6.31  
     12/31/2020       740,130       2.56       to       12.99       1,904,965         2.14       0.55       to       2.70       11.99       to       9.64  
     12/31/2019       697,431       2.29       to       11.85       1,613,674         2.18       0.55       to       2.70       15.78       to       13.36  

TA JPMorgan Asset Allocation - Moderate Growth Initial Class

 

       
     12/31/2023       485,486       2.95       to       13.43       1,461,209         1.99       0.55       to       2.70       11.60       to       9.27  
     12/31/2022       512,750       2.64       to       12.29       1,386,349         5.41       0.55       to       2.70       (17.81     to       (19.52
     12/31/2021       573,404       3.22       to       15.27       1,891,023         2.15       0.55       to       2.70       13.32       to       10.95  
     12/31/2020       601,163       2.84       to       13.76       1,753,210         2.08       0.55       to       2.70       14.44       to       12.04  
     12/31/2019       788,037       2.48       to       12.28       2,024,821         2.21       0.55       to       2.70       19.35       to       16.86  

TA JPMorgan Enhanced Index Initial Class

 

       
     12/31/2023       277,917       5.53       to       19.93       3,082,164         0.82       0.55       to       2.70       26.97       to       24.32  
     12/31/2022       301,422       4.36       to       16.03       2,579,134         0.68       0.55       to       2.70       (18.80     to       (20.49
     12/31/2021       316,410       5.37       to       20.16       3,255,468         0.76       0.55       to       2.70       29.41       to       26.70  
     12/31/2020       408,430       4.15       to       15.92       3,089,087         1.39       0.55       to       2.70       19.51       to       17.01  
     12/31/2019       581,821       3.47       to       13.60       3,235,558         1.16       0.55       to       2.70       30.32       to       27.59  

TA Multi-Managed Balanced Initial Class

 

       
     12/31/2023       571,333       3.17       to       14.91       1,753,259         1.56       0.55       to       2.70       18.08       to       15.62  
     12/31/2022       578,057       2.68       to       12.89       1,497,486         1.19       0.55       to       2.70       (16.74     to       (18.48
     12/31/2021       612,087       3.22       to       15.82       1,904,204         1.15       0.55       to       2.70       16.40       to       13.96  
     12/31/2020       689,571       2.77       to       13.88       1,843,988         1.62       0.55       to       2.70       15.26       to       12.85  
     12/31/2019       890,369       2.40       to       12.30       2,058,934         1.63       0.55       to       2.70       21.10       to       18.57  

TA S&P 500 Index Initial Class

 

       
     12/31/2023       371,831       11.74       to       11.33       436,258         0.72       0.55       to       2.70       25.40       to       22.79  
     12/31/2022 (1)      96,187       9.36       to       9.23       90,039         1.23       0.55       to       2.70       -       to       -  

TA Small/Mid Cap Value Initial Class

 

       
     12/31/2023       235,040       3.43       to       14.39       2,539,487         1.04       0.55       to       2.70       11.78       to       9.45  
     12/31/2022       298,107       3.07       to       13.15       2,594,770         0.62       0.55       to       2.70       (8.81     to       (10.72
     12/31/2021       287,390       3.37       to       14.72       2,747,254         0.62       0.55       to       2.70       27.42       to       24.76  
     12/31/2020       351,501       2.64       to       11.80       2,584,665         1.18       0.55       to       2.70       3.47       to       1.30  
     12/31/2019       453,673       2.56       to       11.65       2,817,286         0.97       0.55       to       2.70       24.59       to       21.99  

TA T. Rowe Price Small Cap Initial Class

 

       
     12/31/2023       1,092,968       4.56       to       16.01       4,865,157         -       0.55       to       2.70       20.54       to       18.02  
     12/31/2022       1,303,155       3.78       to       13.57       4,793,404         -       0.55       to       2.70       (22.81     to       (24.43
     12/31/2021       1,327,467       4.90       to       17.95       6,329,681         -       0.55       to       2.70       10.76       to       8.45  
     12/31/2020       1,430,753       4.42       to       16.55       6,160,846         -       0.55       to       2.70       22.89       to       20.31  
     12/31/2019       1,780,488       3.60       to       13.76       6,270,882         -       0.55       to       2.70       32.04       to       29.28  

TA TS&W International Equity Initial Class

 

       
     12/31/2023       269,515       2.55       to       12.48       817,676         1.07       0.55       to       2.70       14.85       to       12.45  
     12/31/2022       289,049       2.22       to       11.10       771,801         3.47       0.55       to       2.70       (14.87     to       (16.65
     12/31/2021       210,498       2.60       to       13.32       773,588         1.82       0.55       to       2.70       12.79       to       10.43  
     12/31/2020       254,616       2.31       to       12.06       781,157         3.06       0.55       to       2.70       5.96       to       3.74  
     12/31/2019       275,359       2.18       to       11.63       822,843         1.43       0.55       to       2.70       20.40       to       17.88  

 

39


Transamerica Life Insurance Company

Separate Account VA CC

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 WMC US Growth Initial Class

 

       
     12/31/2023       1,569,878       $6.30       to       $23.90     $   9,532,552         0.04  %      0.55  %      to       2.70  %      41.31  %      to       38.36  % 
     12/31/2022       1,803,174       4.46       to       17.27       7,779,046         -       0.55       to       2.70       (31.72     to       (33.15
     12/31/2021       1,752,579       6.53       to       25.84       11,036,591         0.08       0.55       to       2.70       20.01       to       17.49  
     12/31/2020       2,306,411       5.44       to       21.99       12,160,465         0.11       0.55       to       2.70       36.55       to       33.69  
     12/31/2019       2,830,968       3.98       to       16.45       10,965,506         0.13       0.55       to       2.70       39.28       to       36.36  

Vanguard® Equity Index

 

       
     12/31/2023       9,316,703       5.53       to       19.60       51,990,884         1.45       0.55       to       2.70       25.43       to       22.81  
     12/31/2022       10,058,108       4.41       to       15.96       44,738,923         1.35       0.55       to       2.70       (18.68     to       (20.38
     12/31/2021       11,412,047       5.42       to       20.05       62,575,597         1.30       0.55       to       2.70       27.85       to       25.17  
     12/31/2020       13,703,852       4.24       to       16.02       58,813,517         1.71       0.55       to       2.70       17.55       to       15.09  
     12/31/2019       15,625,042       3.61       to       13.92       57,101,058         1.86       0.55       to       2.70       30.58       to       27.85  

Vanguard® International

 

       
     12/31/2023       6,674,741       2.23       to       16.96       14,712,911         1.53       0.55       to       2.70       14.03       to       11.65  
     12/31/2022       6,785,990       1.96       to       15.19       13,109,670         1.29       0.55       to       2.70       (30.50     to       (31.96
     12/31/2021       6,831,636       2.81       to       22.33       18,982,511         0.28       0.55       to       2.70       (2.08     to       (4.13
     12/31/2020       8,234,045       2.87       to       23.29       23,400,528         1.28       0.55       to       2.70       56.72       to       53.44  
     12/31/2019       11,103,858       1.83       to       15.18       20,151,806         1.32       0.55       to       2.70       30.50       to       27.77  

Vanguard® Mid-Cap Index

 

       
     12/31/2023       2,366,710       5.58       to       15.97       13,550,563         1.48       0.55       to       2.70       15.20       to       12.79  
     12/31/2022       2,700,687       4.85       to       14.16       13,384,229         1.12       0.55       to       2.70       (19.26     to       (20.95
     12/31/2021       2,976,111       6.00       to       17.91       18,297,053         1.17       0.55       to       2.70       23.68       to       21.09  
     12/31/2020       3,838,302       4.85       to       14.79       19,161,323         1.52       0.55       to       2.70       17.43       to       14.97  
     12/31/2019       4,551,504       4.13       to       12.86       19,412,231         1.60       0.55       to       2.70       30.16       to       27.43  

Vanguard® Real Estate Index

 

       
     12/31/2023       2,949,390       4.17       to       11.88       13,432,728         2.53       0.55       to       2.70       11.09       to       8.77  
     12/31/2022       3,222,323       3.75       to       10.92       13,255,445         1.91       0.55       to       2.70       (26.70     to       (28.23
     12/31/2021       3,423,345       5.12       to       15.22       19,250,096         2.10       0.55       to       2.70       39.44       to       36.52  
     12/31/2020       4,088,320       3.67       to       11.15       16,589,637         2.60       0.55       to       2.70       (5.37     to       (7.36
     12/31/2019       4,365,138       3.88       to       12.03       18,741,090         2.83       0.55       to       2.70       28.10       to       25.42  

Vanguard® Short-Term Investment Grade

 

       
     12/31/2023       15,835,661       1.57       to       9.52       25,346,745         2.11       0.55       to       2.70       5.58       to       3.37  
     12/31/2022       16,221,214       1.48       to       9.21       24,585,003         1.70       0.55       to       2.70       (6.24     to       (8.20
     12/31/2021       18,438,884       1.58       to       10.03       29,866,930         2.11       0.55       to       2.70       (1.00     to       (3.07
     12/31/2020       22,081,051       1.60       to       10.35       36,290,982         2.70       0.55       to       2.70       4.92       to       2.72  
     12/31/2019       23,377,078       1.52       to       10.08       36,629,942         2.71       0.55       to       2.70       5.12       to       2.92  

Vanguard® Total Bond Market Index

 

       
     12/31/2023       22,850,945       1.65       to       9.08       38,727,924         2.36       0.55       to       2.70       5.00       to       2.81  
     12/31/2022       21,226,968       1.57       to       8.83       34,251,982         2.10       0.55       to       2.70       (13.69     to       (15.49
     12/31/2021       22,869,040       1.82       to       10.45       42,814,906         2.16       0.55       to       2.70       (2.25     to       (4.30
     12/31/2020       24,978,730       1.86       to       10.92       48,131,702         2.45       0.55       to       2.70       6.99       to       4.75  
     12/31/2019       25,737,985       1.74       to       10.42       46,486,867         3.23       0.55       to       2.70       8.08       to       5.82  

Wanger Acorn

 

       
     12/31/2023       409,543       4.34       to       13.87       2,757,752         -       0.55       to       2.70       21.07       to       18.55  
     12/31/2022       444,965       3.59       to       11.70       2,442,202         -       0.55       to       2.70       (33.83     to       (35.21
     12/31/2021       526,134       5.42       to       18.05       4,204,764         0.72       0.55       to       2.70       8.30       to       6.04  
     12/31/2020       625,592       5.00       to       17.03       4,417,988         -       0.55       to       2.70       23.55       to       20.96  
     12/31/2019       715,788       4.05       to       14.08       4,215,210         0.26       0.55       to       2.70       30.38       to       27.66  

Wanger International

 

       
     12/31/2023       403,484       3.88       to       12.51       1,893,828         0.27       0.55       to       2.70       16.32       to       13.89  
     12/31/2022       575,258       3.34       to       10.98       2,340,017         0.91       0.55       to       2.70       (34.21     to       (35.58
     12/31/2021       604,191       5.07       to       17.05       3,714,414         0.55       0.55       to       2.70       18.16       to       15.69  
     12/31/2020       689,936       4.29       to       14.74       3,594,934         2.05       0.55       to       2.70       13.74       to       11.36  
     12/31/2019       863,965       3.77       to       13.24       3,875,790         0.78       0.55       to       2.70       29.28       to       26.58  

 

40


Transamerica Life Insurance Company

Separate Account VA CC

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.

 

41


Transamerica Life Insurance Company

Separate Account VA CC

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. An annual charge ranging from 0.40% to 2.55% 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.

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.

 

42


Transamerica Life Insurance Company

Separate Account VA CC

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.

 

43