CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
Financial Statements

As of December 31, 2023 and for the Years Ended December 31, 2023 and 2022 and Report of Independent Registered Public Accounting Firm
 


CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company




Page(s)
Report of Independent Registered Public Accounting Firm2
 
Statements of Net Assets4
Statements of Operations 6
Statements of Changes in Net Assets8
Notes to Financial Statements12

1
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
image_0a.jpgReport of Independent Registered Public Accounting Firm
To the Board of Directors of Connecticut General Life Insurance Company and the Policyowners of CG Variable Life Insurance Separate Account A
Opinions on the Financial Statements
We have audited the accompanying statements of net assets of American Century VP Capital Appreciation Fund (Class I), BNY Mellon Stock Index Fund (Initial Class), Fidelity VIP Asset Manager Portfolio (Initial Class), Fidelity VIP Equity-Income Portfolio (Initial Class), Fidelity VIP Investment Grade Bond Portfolio (Initial Class), Fidelity VIP Overseas Portfolio (Initial Class), Goldman Sachs VIT Government Money Market Fund (Institutional Class), Janus Henderson VIT Enterprise Portfolio (Institutional Class), Vanguard VIF Equity Income Portfolio, and Vanguard VIF Equity Index Portfolio of CG Variable Life Insurance Separate Account A as of December 31, 2023, the related statements of operations for the year then ended, and the statements of changes in net assets for each of the two years in the period ended December 31, 2023 including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of American Century VP Capital Appreciation (Class I), BNY Mellon Stock Index Fund (Initial Class), Fidelity VIP Asset Manager Portfolio (Initial Class), Fidelity VIP Equity-Income Portfolio (Initial Class), Fidelity VIP Investment Grade Bond Portfolio (Initial Class), Fidelity VIP Overseas Portfolio (Initial Class), Goldman Sachs VIT Government Money Market Fund (Institutional Class), Janus Henderson VIT, Enterprise Portfolio (Institutional Class), Vanguard VIF Equity Income Portfolio, and Vanguard VIF Equity Index Portfolio of CG Variable Life Insurance Separate Account A as of December 31, 2023, the results of each of their operations for the year then ended, and the changes in each of their net assets for each of the two years in the period ended December 31 ,2023 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions
These financial statements are the responsibility of the Connecticut General Life Insurance Company management. Our responsibility is to express an opinion on the financial statements of each of the subaccounts of CG Variable Life Insurance Separate Account A 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 CG Variable Life Insurance Separate Account A 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
PricewaterhouseCoopers LLP, CITYPLACE I 185 Asylum Street Suite 2400 Hartford, Connecticut 06103-3404
T: 860 241 7000
2
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
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. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP
Hartford, Connecticut
April 25, 2024
We have served as the auditor of one or more of the subaccounts of CG Variable Life Insurance Separate Account A since 2022.
3
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
Statements of Net Assets
As of December 31, 2023


American Century
VP Capital Appreciation		BNY Mellon Stock Index FundFidelity VIP Asset Manager PortfolioFidelity VIP Equity Income PortfolioFidelity VIP Investment Grade Bond Portfolio
ASSETS:
Investment in variable insurance funds
   and portfolios, at fair value
$935$111,495$43,602$15,358$5,422
Total net assets$935$111,495$43,602$15,358$5,422
Total shares outstanding66 1,613 2,791 618 485 
Net asset value per share (NAV)$14.22$69.08$15.62$24.85$11.17
Total units outstanding14 2,339 1,469 345 211 
Variable accumulation unit value$64.71$47.62$29.71$44.34$25.66
Identified cost of investment978 84,735 43,069 14,174 6,060 


The accompanying Notes to the Financial Statements are an integral part of these financial statements.

4
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
Statements of Net Assets (Continued)
As of December 31, 2023


Fidelity VIP Overseas PortfolioGoldman Sachs VIT Government Money Market FundJanus Henderson VIT Enterprise PortfolioVanguard VIF Equity Income PortfolioVanguard VIF Equity Index Portfolio
ASSETS:
Investment in variable insurance funds
   and portfolios, at fair value
$7,088$6,864$1,407$41,664$15,967
Total net assets$7,088$6,864$1,407$41,664$15,967
Total shares outstanding275 6,873 18 1,743 262 
Net asset value per share (NAV)$25.82$1.00$76.67$23.91$60.89
Total units outstanding284 612 87 2,266 717 
Variable accumulation unit value$24.94$11.23$16.00$18.39$22.31
Identified cost of investment6,354 6,863 1,470 39,924 12,554 


The accompanying Notes to the Financial Statements are an integral part of these financial statements.
5

Statements of Operations
For the year ended December 31, 2023


American Century
VP Capital Appreciation		BNY Mellon Stock Index FundFidelity VIP Asset Manager PortfolioFidelity VIP Equity Income PortfolioFidelity VIP Investment Grade Bond Portfolio

INVESTMENT INCOME (LOSS):
Dividend income$2$1,599$986$282$134
Net investment income (loss)21,599986282134
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS:
Net realized gain (loss) on sale of investments(3,748)4,476 (791)148(192)
Realized gain distributions— 4,252 487 423 — 
Realized gain (loss) on investments(3,748)8,728(304)571(192)
Change in unrealized appreciation (depreciation) on investments6,359 15,232 4,612 675 365 
Net realized and unrealized gain (loss) on investments2,611 23,960 4,308 1,246 173 
  Net increase (decrease) in net assets
    resulting from operations
$2,613$25,559$5,294$1,528$307


The accompanying Notes to the Financial Statements are an integral part of these financial statements

Statements of Operations (Continued)
For the year ended December 31, 2023



Fidelity VIP Overseas PortfolioGoldman Sachs VIT Government Money Market FundJanus Henderson VIT Enterprise PortfolioVanguard VIF Equity Income PortfolioVanguard VIF Equity Index Portfolio
INVESTMENT INCOME (LOSS):
Dividend income$67$309$—$1,173$333
Net investment income (loss)67309 01,173333
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS:
Net realized gain (loss) on sale of investments109 — (7)657,956
Realized gain distributions17 — 91 2,290 735 
Realized gain (loss) on investments126 — 842,3558,691
Change in unrealized appreciation (depreciation) on investments1,038 — 129 (415)(1,526)
Net realized and unrealized gain (loss) on investments1,164 — 213 1,940 7,165 
  Net increase (decrease) in net assets resulting from operations
                      
$1,231$309$213$3,113$7,498


The accompanying Notes to the Financial Statements are an integral part of these financial statements




6
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
Statements of Changes in Net Assets
For the years ended December 31, 2023 and December 31, 2022

American Century
VP Capital
Appreciation
BNY Mellon
Stock Index
Fund
Fidelity VIP
Asset Manager
Portfolio
202320222023202220232022
INCREASE (DECREASE) IN NET ASSETS:
Operations:
  Net investment income (loss)$2$0$1,599$1,709$986$981
  Realized gain (loss) on investments(3,748)3,710 8,728 16,312 (304)2,786 
   Change in unrealized appreciation
  (depreciation) on investments
6,359 (16,247)15,232 (46,302)4,612 (12,684)
    Net increase (decrease) in net assets resulting from operations2,613 (12,537)25,559 (28,281)5,294 (8,917)
Contributions and (Withdrawals):
  Payments received from policyowners— — — — 18,219 14,353 
  Policyowners' surrenders(28,542)— — — — — 
  Net Transfers— (3,588)— — — (1,602)
  Cost of insurance, administrative fees and
         transaction fees
(504)(972)(25,370)(23,228)(24,243)(22,245)
  Net contributions and (withdrawals)(29,046)(4,560)(25,370)(23,228)(6,024)(9,494)
    Increase (decrease) in net assets$(26,433)$(17,097)$189$(51,509)$(730)$(18,411)
NET ASSETS:
  Beginning of period27,368 44,465 111,306 162,815 44,332 62,743 
  End of period$935$27,368$111,495$111,306$43,602$44,332
.

The accompanying Notes to the Financial Statements are an integral part of these financial statements
8
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
Statements of Changes in Net Assets (Continued)
For the years ended December 31, 2023 and December 31, 2022

Fidelity VIP
Equity Income
Portfolio
Fidelity VIP
Investment Grade
Bond Portfolio
Fidelity VIP
Overseas
Portfolio
202320222023202220232022
INCREASE (DECREASE) IN NET ASSETS:
Operations:
  Net investment income (loss)$282$308$134$125$67$70
  Realized gain (loss) on investments571 2,153 (192)(2,047)126 (2,347)
   Change in unrealized appreciation
  (depreciation) on investments
675 (5,495)365 (1,394)1,038 (8,771)
      Net increase (decrease) in net assets
            resulting from operations
1,528 (3,034)307 (3,316)1,231 (11,048)
Contributions and (Withdrawals):
  Payments received from policyowners— — 1,824 2,037 1,191 1,748 
  Policyowners' surrenders— — — — — — 
  Net Transfers— (23,915)— (13,464)— (18,722)
  Cost of insurance, administrative fees and
         transaction fees
(2,159)(2,815)(2,175)(2,240)(1,742)(1,915)
    Net contributions and (withdrawals)(2,159)(26,730)(351)(13,667)(551)(18,889)
      Increase (decrease) in net assets$(631)$(29,764)$(44)$(16,983)$680$(29,937)
NET ASSETS:
  Beginning of period15,989 45,753 5,466 22,449 6,408 36,345 
  End of period$15,358$15,989$5,422$5,466$7,088$6,408


The accompanying Notes to the Financial Statements are an integral part of these financial statements


9
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
Statements of Changes in Net Assets (Continued)
For the years ended December 31, 2023 and December 31, 2022

Goldman Sachs
VIT Government
Money Market Fund
Janus Henderson
VIT Enterprise
Portfolio
Vanguard VIF
Equity Income
Portfolio
202320222023202220232022
INCREASE (DECREASE) IN NET ASSETS:
Operations:
  Net investment income (loss)$309$109$—$2$1,173$1,379
  Realized gain (loss) on investments— — 84 203 2,355 6,380 
   Change in unrealized appreciation
  (depreciation) on investments
— 1 129 (418)(415)(7,755)
     Net increase (decrease) in net assets
            resulting from operations
309 110 213 (213)3,113 4 
Contributions and (Withdrawals):
  Payments received from policyowners 2,755 3,085 435 516 20,314 19,127 
  Policyowners' surrenders— — — — (10,448)
  Net Transfers— (1,680)— — — 2,039 
  Cost of insurance, administrative fees and
         transaction fees
(2,672)(2,418)(426)(487)(27,693)(25,199)
     Net contributions and (withdrawals)83 (1,013)9 29 (17,827)(4,033)
       Increase (decrease) in net assets$392$(903)$222$(184)$(14,714)$(4,029)
NET ASSETS:
  Beginning of period
  End of period6,472 7,375 1,185 1,369 56,378 60,407 
$6,864$6,472$1,407$1,185$41,664$56,378 


The accompanying Notes to the Financial Statements are an integral part of these financial statements

10
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company
Statements of Changes in Net Assets (Continued)
For the years ended December 31, 2023 and December 31, 2022

Vanguard VIF
Equity Index
Portfolio
20232022
INCREASE (DECREASE) IN NET ASSETS:
Operations:
  Net investment income (loss) $333$512
  Realized gain (loss) on investments8,691 3,431 
   Change in unrealized appreciation
  (depreciation) on investments
(1,526)(9,600)
       Net increase (decrease) in net assets
            resulting from operations
7,498 (5,657)
Contributions and (Withdrawals):
  Payments received from policyowners4,471 8,564 
  Policyowners' surrenders(71,102)— 
  Net Transfers— 60,932 
  Cost of insurance, administrative fees and
         transaction fees
(18,270)(17,533)
     Net contributions and (withdrawals)(84,901)51,963 
       Increase (decrease) in net assets$(77,403)$46,306
NET ASSETS:
  Beginning of period93,370 47,064 
  End of period$15,967$93,370


The accompanying Notes to the Financial Statements are an integral part of these financial statements

11
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements

1. Organization

CG Variable Life Insurance Separate Account A (Separate Account A) is registered as a Unit Investment Trust under the Investment Company Act of 1940, as amended as a unit investment trust that follows the accounting and reporting under ASC 946. The operations of Separate Account A are part of the operations of Connecticut General Life Insurance Company (CG Life). The assets and liabilities of Separate Account A are clearly identified and distinguished from other assets and liabilities of CG Life. The assets of Separate Account A are not available to meet the general obligations of CG Life and are held for the exclusive benefit of the participants. Effective after July 1, 2006, sales of new policies were discontinued.

At December 31, 2023, the assets of Separate Account A are divided into variable sub-accounts, each of which is invested in shares of one of ten diversified open-end investment management companies' mutual funds, each portfolio having its own investment objective. Transfers are permitted between these variable sub-accounts and to and from a fixed account option offered by CG Life. The fixed account is not included in these financial statements. The variable sub-accounts are:

American Century Investments Variable Products:
American Century VP Capital Appreciation Fund (Class I)
BNY Mellon Investment Management:
BNY Mellon Stock Index Fund (Initial Class)
Fidelity Variable Insurance Products (VIP) Products:
Fidelity VIP Asset Manager Portfolio (Initial Class)
Fidelity VIP Equity-Income Portfolio (Initial Class)
Fidelity VIP Investment Grade Bond Portfolio (Initial Class)
Fidelity VIP Overseas Portfolio (Initial Class)
Goldman Sachs Variable Insurance Trust:
Goldman Sachs VIT Government Money Market Fund (Institutional Class)
Janus Henderson Variable Insurance Trust:
Janus Henderson VIT Enterprise Portfolio (Institutional Class)
Vanguard Variable Insurance Funds:
Vanguard VIF Equity Income Portfolio
Vanguard VIF Equity Index Portfolio



2. Significant Accounting Policies

These financial statements have been prepared in conformity with generally accepted accounting principles and reflect management’s estimates and assumptions, such as those regarding fair value, that affect recorded amounts. Actual results could differ from those estimates. Significant estimates are discussed throughout these Notes to Financial
12
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
Statements. The following is a summary of significant accounting policies consistently applied in the preparation of the Account's financial statements:

A. Investment Valuation: Investments held by the variable sub-accounts consist of shares of mutual funds that are valued at their respective closing net asset values per share as determined by the mutual funds as of December 31, 2023. The change in the difference between cost and fair value is reflected as a change in net unrealized gain (loss) in the Statements of Operations. See below for further information on Fair Value Measurements.

B. Investment Transactions: Investment transactions are recorded on the trade date (date the order to buy or sell is executed). Realized gains and losses on sales of investments are determined by the average cost basis of the investments sold. Dividend and capital gain distributions are recorded on the ex-dividend date. Investment transactions are settled through CG Life. Amounts due to or due from CG Life are recorded as payables to/receivables from CG Life in the Statements of Assets and Liabilities. There were no such payables to or receivables from CG Life as of December 31, 2023.

C. Federal Income Taxes: The operations of the Account form a part of, and are taxed with, the total operations of CG Life, which is taxed as a life insurance company. Under existing Federal income tax law, investment income (dividends) and capital gains attributable to the Account are not taxed.
D. Policies: Reinstated policies due to lapses that are re-issued in the current year are deemed issued under that policy's original effective date with regard to fee structures. No new policies were issued during this statement period and it is expected that no new policies will be issued in the future.

E. Fair Value Measurements: The Account carries financial instruments at fair value in the financial statements, including mutual funds.

Fair value is defined as the price at which an asset could be exchanged in an orderly transaction between market participants at the balance sheet date. A liability's fair value is defined as the amount that would be paid to transfer the liability to a market participant, not the amount that would be paid to settle the liability with the creditor.

The Account’s financial assets carried at fair value have been classified based upon a hierarchy defined by GAAP. The hierarchy gives the highest ranking to fair values determined using unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest ranking to fair values determined using methodologies and models with unobservable inputs (Level 3). An asset's or a liability's classification is based on the lowest level of input that is significant to its measurement. For example, a financial asset or liability carried at fair value would be classified in Level 3 if unobservable inputs were significant to the instrument's fair value, even though the measurement may be derived using inputs that are both observable (Levels 1 and 2) and unobservable (Level 3).

13
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
2. Significant Account Policies (Continued)

•Level 1 – Inputs for instruments classified in Level 1 include unadjusted quoted prices for identical assets in active markets accessible at the measurement date. Active markets are defined as markets where many transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and include exchanges and dealer markets.

•Level 2 – Inputs for instruments classified in Level 2 include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active or other inputs that are market
observable or can be corroborated by market data for the term of the instrument. Such other inputs include market interest rates and volatilities, spreads and yield curves. An instrument is classified in Level 2 if the Company determines that unobservable inputs are insignificant.

•Level 3 – Certain inputs for instruments classified in Level 3 are unobservable (supported by little or no market activity) and significant to their resulting fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date.

The Account’s financial assets measured at fair value on a recurring basis consist of investments in various institutional and retail mutual funds classified in Level 2. The fair value measurement is based on the respective funds' closing net asset value as of the valuation date, which represents the exit-based fair value for the units on that date. There were no financial assets measured at fair value on a non-recurring basis during 2023.

3. Investments

Purchases and sales of shares of each mutual fund for the year ended December 31, 2023 amounted to:
PurchasesSales
American Century VP Capital Appreciation$2$29,045
BNY Mellon Stock Index Fund5,807 25,370 
Fidelity VIP Asset Manager Portfolio19,218 23,703 
Fidelity VIP Equity Income Portfolio706 2,160 
Fidelity VIP Investment Grade Bond Portfolio1,559 1,774 
Fidelity VIP Overseas Portfolio975 1,438 
Goldman Sachs VIT Government Money Market Fund2,592 2,191 
Janus Henderson VIT Enterprise Portfolio525 425 
Vanguard VIF Equity Income Portfolio18,357 32,706 
Vanguard VIF Equity Index Portfolio5,522 89,339 
Total$55,263 $208,151 

4. Charges and Deductions

    There are no mortality and expense charges for the years presented.

14
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
4. Charges and Deductions (Continued)

Each premium payment is subject to a charge covering state insurance premium taxes and federal income taxes under Section 848 of the Internal Revenue Code (dealing with deferred acquisition costs). This charge is stated in the group policy but will not exceed 5.00%. State insurance premium taxes vary from state to state and range from 0.00% to 3.00%. The premium taxes are netted against participant deposits on the Statements of Changes in Net Assets.

CG Life charges a monthly deduction for the cost of life insurance and any other benefits provided under the Group policy. The cost of life insurance will depend on the contract holder's age on the contract holder's last birthday as of the last Policy Anniversary. The charge may depend on the following risk factors:

•The group policyholder's industry;
•The contract holder's classification as a smoker or non-smoker;
•The number of eligible persons;
•The age, sex and occupation of the eligible persons;
•The prior claims experience of group life insurance plans sponsored by the group policyholder;
•Expenses of the group policy, including commissions to agents or brokers and other administrative expenses to reimburse CG Life;
•Our prior claims experience under the group policy; and
•Other factors affecting CG Life's risk under the group policy.

The monthly cost of life insurance is guaranteed not to exceed maximum rates that are based on 150% of the 1980 Commissioners Standard Ordinary Male Mortality Tables, Age Last Birthday.

CG Life charges a monthly administrative fee to cover the cost of premium billing and collection, certificate value calculation, transaction processing, periodic reports and other expenses. This charge will vary depending on the group policyholder, including the number of eligible persons and the expected costs of administering the certificates under the group policy. This charge will not exceed:

•$6.00 per month, for certificates having a fund or portfolio balance (net of loans) of more than zero but not more than $10,000; or
•$5.00 per month, for certificates having no fund or portfolio balance, or having a fund or portfolio balance (net of loans) of more than $10,000.

CG Life charges a fee of $25.00 (or 2% of the amount of the surrender, if less) for the following transactions:

•A full surrender of a certificate;
•A partial surrender of a certificate; and
•Each transfer between funding options in excess of 12 transfers during each policy year.

The transaction fee may be waived at the discretion of CG Life management. Fees charged by CG Life for cost of life insurance, administrative fees and transaction fees are charged directly to policyholder accounts.


5. Distribution of Net Income

Separate Account A does not expect to declare dividends to participants from accumulated net income. The accumulated net income is allocated to each participant. Distribution to participants will occur as part of death benefits and surrender.

15
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
6. Diversification Requirements

Under the provisions of Section 817(h) of the Internal Revenue Code of 1986 (the Code), a variable life insurance policy will not be treated as life insurance under Section 7702 of the Code for any period for which the investments of the segregated asset account, on which the policy is based, are not adequately diversified. The Code provides that the "adequately diversified" requirement may be met if the underlying investments satisfy either a statutory safe harbor test or diversification requirements set forth in regulations issued by the Secretary of Treasury. Based on assurances from the Fund Managers, CG Life believes that the variable sub-accounts satisfy the requirements of the regulations and that Separate Account A therefore satisfies these requirements and expects to continue to meet such requirements.








































16
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
7. Changes in Outstanding Units
The changes in units outstanding for the years ended December 31, 2023 and 2022 were as follows:
20232022
Units IssuedUnits RedeemedNet Increase (Decrease)Units IssuedUnits RedeemedNet Increase (Decrease)
American Century
VP Capital Appreciation		—(496)(496)—(85)(85)

BNY Mellon Stock Index Fund
—(603)(603)—(573)(573)

Fidelity VIP Asset Manager Portfolio
641(857)(216)507(851)(344)

Fidelity VIP Equity Income Portfolio
—(52)(52)—(686)(686)
Fidelity VIP Investment Grade Bond Portfolio57(72)(15)81(664)(583)

Fidelity VIP Overseas Portfolio
38(64)(26)84(1,101)(1,017)
Goldman Sachs VIT Government Money Market Fund207(200)7274(370)(96)

Janus Henderson VIT Enterprise Portfolio
30(29)135(32)3

Vanguard VIF Equity Income Portfolio
877(1,924)(1,047)1,095(1,308)(213)

Vanguard VIF Equity Index Portfolio
219(4,780)(4,561)3,937(835)3,102

17
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)

8. Financial Highlights:
 
The following table presents financial highlights for each of the variable sub-accounts as of December 31, 2023, 2022, 2021, 2020 and 2019:
 Net AssetsUnits Outstanding Variable Accumulation Unit Value Total Return*Investment Income Ratio**
American Century
VP Capital Appreciation
 
2023$93514 $64.71 20.7 %— %
202227,368 510 53.61 (28.1)%— %
202144,465 596 74.58 11.2 %— %
202041,296 615 67.09 42.5 %— %
201932,018 680 47.10 35.6 %— %
BNY Mellon Stock Index Fund2023$111,4952,339 $47.62 25.9 %1.4 %
2022111,306 2,942 37.81 (18.3)%1.2 %
2021162,815 3,515 46.29 28.4 %1.1 %
2020145,749 4,041 36.05 18.0 %1.9 %
2019147,435 4,824 30.55 31.2 %6.9 %

18
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
8. Financial Highlights (Continued):
 Net AssetsUnits OutstandingVariable Accumulation Unit ValueTotal Return*Investment Income Ratio **
Fidelity VIP Asset Manager Portfolio2023$43,6021,469 $29.71 12.9 %2.2 %
202244,332 1,685 26.31 (14.9)%1.8 %
202162,743 2,028 30.93 9.9 %1.6 %
202061,709 2,193 28.14 14.9 %1.4 %
201960,775 2,481 24.49 18.2 %5.8 %
Fidelity VIP Equity Income Portfolio2023$15,358345 $44.34 10.6 %1.8 %
202215,989 397 40.08 (5.0)%1.0 %
202145,753 1,084 42.17 24.9 %1.9 %
202040,246 1,191 33.76 6.7 %1.3 %
201948,562 1,533 31.64 27.4 %8.7 %
Fidelity VIP Investment Grade Bond Portfolio
 
2023$5,422211 $25.66 6.2 %2.5 %
20225,466 226 24.16 (13.0)%0.9 %
202122,449 809 27.76 (0.6)%1.9 %
202026,663 955 27.93 9.4 %2.1 %
201925,420 996 25.53 9.7 %2.9 %
Fidelity VIP Overseas Portfolio2023$7,088284 $24.94 20.5 %1.0 %
20226,408 310 20.69 (24.5)%0.3 %
202136,345 1,326 27.40 19.7 %0.5 %
202031,278 1,366 22.89 15.6 %0.3 %
201928,271 1,428 19.80 27.8 %5.2 %

19
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
8. Financial Highlights (Continued):
Net AssetsUnits OutstandingVariable Accumulation Unit ValueTotal Return*Investment Income Ratio**
Goldman Sachs VIT Government Money Market Fund
 
2023$6,864612 $11.23 5.1 %4.6 %
20226,472 605 10.69 1.6 %1.6 %
20217,375 701 10.52 — %— %
20206,346 603 10.52 0.4 %0.4 %
20196,312 602 10.48 2.1 %2.1 %
Janus Henderson VIT Enterprise Portfolio2023$1,40787 $16.00 18.1 %— %
20221,185 86 13.55 -16.9 %0.2 %
20211,369 84 16.30 16.8 %0.2 %
20202,430 174 13.97 19.5 %5.4 %
Vanguard VIF Equity Income Portfolio2023$41,6642,266 $18.39 8.1 %2.4 %
202256,378 3,313 17.02 (0.7)%2.4 %
202160,407 3,526 17.13 25.3 %1.8 %
202047,135 3,449 13.67 3.2 %5.1 %
201942,122 3,182 13.24 24.4 %6.3 %
Vanguard VIF Equity Index Portfolio2023$15,967717 $22.31 26.1 %0.6 %
202293,370 5,278 17.69 (18.2)%0.7 %
202147,064 2,176 21.63 28.5 %1.2 %
202044,372 2,637 16.83 18.2 %3.3 %
201939,448 2,771 14.24 31.3 %3.8 %


20
CG Variable Life Insurance Separate Account A of Connecticut General Life Insurance Company

Notes to Financial Statements (Continued)
8. Financial Highlights (Continued):

Explanations for footnotes within the Financial Highlights are as follows:

* These amounts represent the total return for the periods indicated, including changes in the value of the underlying fund and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. These ratios also do not reflect charges for cost of insurance, administrative or transaction fees; inclusion of these charges in the calculation would result in a reduction in the total return presented.

**These amounts represent the dividends received by the variable sub-account from the underlying mutual fund, divided by the average net assets. These ratios exclude mortality and expense risk charges that are assessed against contract owner accounts through reductions in the unit values. The recognition of investment income by the variable sub-accounts is affected by the timing of the declaration of dividends by the underlying fund in which the variable sub-account invests.



9. Subsequent Events:

CG Life is not aware of any events that occurred subsequent to the close of the books or accounts for this statement which would have had a material effect on the financial condition of the Account. In preparing these financials, CG Life has evaluated events that occurred between the balance sheet date and April 25, 2024, the date the financial statements were issued.



21