Symetra Life Insurance Company

Financial Statements – Statutory Basis

December 31, 2024

With Independent Auditors' Report

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SYMETRA LIFE INSURANCE COMPANY

FINANCIAL STATEMENTS – STATUTORY BASIS

Contents
Independent Auditors' Report			#
Financial Statements
Balance Sheets – Statutory Basis			4
Statements of Operations – Statutory Basis			5
Statements of Changes in Capital and Surplus – Statutory Basis			6
Statements of Cash Flow – Statutory Basis			7
Notes to Financial Statements – Statutory Basis			8

    

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Independent Auditors’ Report

The Board of Directors and Stockholder
Symetra Life Insurance Company:

Opinions

We have audited the financial statements of Symetra Life Insurance Company (the Company), which comprise the balance sheets - statutory basis as of December 31, 2024 and 2023, and the related statements of operations - statutory basis, changes in capital and surplus - statutory basis, and cash flow - statutory basis for each of the years in the three years ended December 31, 2024, and the related notes to the financial statements - statutory basis.

Unmodified Opinion on Statutory Basis of Accounting

In our opinion, the accompanying financial statements present fairly, in all material respects, the admitted assets, liabilities, and surplus of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flow for each of the years in the three years ended December 31, 2024 in accordance with accounting practices prescribed or permitted by the Iowa Insurance Division, Department of Insurance and Financial Services described in Note 2.

Adverse Opinion on U.S. Generally Accepted Accounting Principles

In our opinion, because of the significance of the matter discussed in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles section of our report, the financial statements do not present fairly, in accordance with U.S. generally accepted accounting principles, the financial position of the Company as of December 31, 2024 and 2023, or the results of its operations or its cash flows for each of the years in the three years ended December 31, 2024.

Basis for Opinions

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles

As described in Note 2 to the financial statements, the financial statements are prepared by the Company using accounting practices prescribed or permitted by the Iowa Insurance Division, Department of Insurance and Financial Services, which is a basis of accounting other than U.S. generally accepted accounting principles. Accordingly, the financial statements are not intended to be presented in accordance with U.S. generally

			KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

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accepted accounting principles. The effects on the financial statements of the variances between the statutory accounting practices and U.S. generally accepted accounting principles are also described in Note 2

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting practices prescribed or permitted by the Iowa Insurance Division, Department of Insurance and Financial Services. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date that the financial statements are issued.

Auditors’ Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

●Exercise professional judgment and maintain professional skepticism throughout the audit.

●Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

●Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Accordingly, no such opinion is expressed.

●Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

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●Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

/s/ KPMG LLP

Seattle, Washington
March 25, 2025

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SYMETRA LIFE INSURANCE COMPANY

BALANCE SHEETS – STATUTORY BASIS

(In millions, except share and per share data)

			As of December 31,
			2024						2023
ADMITTED ASSETS
Bonds			$	33,803.1					$	31,983.6
Preferred stocks			110.7						106.4
Common stocks			807.5						622.1
Mortgage loans			8,900.6						7,850.9
Cash, cash equivalents, and short-term investments			1,641.6						2,258.9
Derivatives			405.0						272.8
Other invested assets			1,100.4						903.4
Total cash and invested assets			46,768.9						43,998.1
Accrued investment income			362.1						355.6
Deferred and uncollected premiums (net of loading of $0.3 and $0.3)			(1,500.2)						(1,181.0)
Deferred tax assets, net			201.2						152.9
Current federal income taxes recoverable			23.8						19.6
Other receivables			1,695.0						1,409.9
Separate account assets			9,685.7						8,130.3
Total admitted assets			$	57,236.5					$	52,885.4
LIABILITIES AND CAPITAL AND SURPLUS
Life and annuity reserves			$	36,575.9					$	34,002.7
Accident and health reserves			291.2						269.1
Policy and contract claims			148.4						135.7
Liability for deposit-type contracts			4,602.9						4,255.8
Unearned premiums and annuity considerations			8.2						4.2
Total policy and contract liabilities			41,626.6						38,667.5
Cash collateral held			692.1						570.0
Asset valuation reserve			687.1						591.6
Interest maintenance reserve			68.7						113.3
Funds held under coinsurance agreements			1,463.4						1,349.2
Other liabilities			931.6						1,438.7
Separate account liabilities			9,384.1						7,886.1
Total liabilities			54,853.6						50,616.4
Commitments and contingencies (Note 14)
Capital and surplus (deficit)
Common stock, $250 par value, 20,000 shares authorized, issued and outstanding			5.0						5.0
Gross paid-in and contributed surplus			1,089.0						1,089.0
Unassigned funds			1,288.9						1,175.0
Total capital and surplus			2,382.9						2,269.0
Total liabilities and capital and surplus			$	57,236.5					$	52,885.4

See accompanying notes.

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SYMETRA LIFE INSURANCE COMPANY

STATEMENTS OF OPERATIONS – STATUTORY BASIS

(In millions)

			For the Year Ended December 31,
			2024						2023						2022
Premiums and other revenues:
Premiums and annuity considerations			$	3,925.0					$	3,528.4					$	3,450.3
Net investment income			2,192.4						1,757.2						1,240.7
Amortization of interest maintenance reserve			1.2						21.6						44.9
Separate account fees and other			237.5						131.6						150.7
Commissions and expense allowances on reinsurance ceded, net			647.6						438.2						342.7
Reserve adjustment on reinsurance ceded			4,682.1						4,458.6						3,124.7
Other income			41.2						40.0						26.1
Total premiums and other revenues			11,727.0						10,375.6						8,380.1
Benefits:
Death benefits			325.2						326.2						364.2
Annuity benefits			343.2						337.1						330.7
Surrender and maturity benefits			5,534.4						5,785.0						4,008.8
Accident and health and other benefits			584.6						546.4						387.6
Increase in policy reserves			2,564.7						2,010.4						1,603.5
Total benefits			9,352.1						9,005.1						6,694.8
Insurance expenses and other deductions:
Commissions			615.5						510.5						385.6
General insurance expenses			727.3						637.0						581.4
Net transfers to (from) separate accounts			872.0						137.2						547.2
Total insurance expenses and other deductions			2,214.8						1,284.7						1,514.2
Gain (loss) from operations before federal income taxes and net realized capital gains (losses)			160.1						85.8						171.1
Federal income tax expense (benefit)			81.6						96.7						59.8
Gain (loss) from operations before net realized capital gains (losses)			78.5						(10.9)						111.3
Net realized capital gains (losses) (net of federal income taxes and transfer to interest maintenance reserve)			104.7						102.5						(26.8)
Net income (loss)			$	183.2					$	91.6					$	84.5

See accompanying notes.

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SYMETRA LIFE INSURANCE COMPANY

STATEMENTS OF CHANGES IN CAPITAL AND SURPLUS – STATUTORY BASIS

(In millions)

			Common Stock						Gross Paid-In and Contributed Surplus						Unassigned Funds						Total Capital and Surplus
Balances as of January 1, 2022			$	5.0					$	964.0					$	1,371.1					$	2,340.1
Net income (loss)			—						—						84.5						84.5
Change in net unrealized capital gains (losses), including foreign exchange			—						—						(92.8)						(92.8)
Change in net deferred income taxes			—						—						88.1						88.1
Change in nonadmitted assets			—						—						(74.3)						(74.3)
Change in liability for unauthorized reinsurance			—						—						(70.8)						(70.8)
Change in reserve on account of change in valuation basis			—						—						12.0						12.0
Change in asset valuation reserve			—						—						84.5						84.5
Change in surplus in separate accounts			—						—						(2.7)						(2.7)
Capital contribution from Parent			—						125.0						—						125.0
Balances as of December 31, 2022			5.0						1,089.0						1,399.6						2,493.6
Correction of prior period errors			—						—						2.8						2.8
Balances as of January 1, 2023			5.0						1,089.0						1,402.4						2,496.4
Net income (loss)			—						—						91.6						91.6
Change in net unrealized capital gains (losses), including foreign exchange			—						—						51.6						51.6
Change in net deferred income taxes			—						—						61.3						61.3
Change in nonadmitted assets			—						—						(59.7)						(59.7)
Change in liability for unauthorized reinsurance			—						—						70.8						70.8
Change in reserve on account of change in valuation basis			—						—						(9.1)						(9.1)
Change in asset valuation reserve			—						—						(228.9)						(228.9)
Change in surplus in separate accounts			—						—						2.0						2.0
Dividends to Parent			—						—						(207.0)						(207.0)
Balances as of December 31, 2023			5.0						1,089.0						1,175.0						2,269.0
Correction of prior period errors			—						—						(9.9)						(9.9)
Balances as of January 1, 2024			5.0						1,089.0						1,165.1						2,259.1
Net income (loss)			—						—						183.2						183.2
Change in net unrealized capital gains (losses), including foreign exchange			—						—						28.3						28.3
Change in net deferred income taxes			—						—						54.3						54.3
Change in nonadmitted assets			—						—						(23.6)						(23.6)
Change in liability for unauthorized reinsurance			—						—						(1.3)						(1.3)
Change in reserve on account of change in valuation basis			—						—						(22.6)						(22.6)
Change in asset valuation reserve			—						—						(95.5)						(95.5)
Change in surplus in separate accounts			—						—						1.0						1.0
Balances as of December 31, 2024			$	5.0					$	1,089.0					$	1,288.9					$	2,382.9

See accompanying notes.

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SYMETRA LIFE INSURANCE COMPANY

STATEMENTS OF CASH FLOW – STATUTORY BASIS

(In millions)

			For the Year Ended December 31,
			2024						2023						2022
Cash flows from operating activities
Premiums and annuity considerations collected			$	4,430.5					$	3,666.5					$	4,345.6
Net investment income received			2,097.0						1,805.0						1,460.6
Commissions and expense allowance on reinsurance ceded			471.6						427.3						267.6
Other income			(809.1)						223.8						250.2
Net transfers (to) from separate accounts			(944.2)						(152.8)						(574.5)
Benefits and loss-related payments			(2,038.0)						(2,586.9)						(1,992.0)
Commissions, other expenses, and taxes paid			(392.8)						(1,162.3)						(1,923.9)
Federal income taxes received (paid)			(91.5)						(88.5)						(55.7)
Net cash provided by (used in) operating activities			2,723.5						2,132.1						1,777.9
Cash flows from investing activities
Proceeds from investments sold, matured, or repaid:
Bonds			9,418.5						7,880.7						5,582.1
Mortgage loans			720.2						548.7						831.4
Other invested assets			1,498.9						760.3						307.1
Cost of investments acquired:
Bonds			(11,330.8)						(9,030.4)						(7,202.0)
Mortgage loans			(1,770.6)						(1,274.2)						(1,147.7)
Other invested assets			(1,458.6)						(697.6)						(813.1)
Other, net			(60.3)						(34.5)						(5.6)
Net cash provided by (used in) investing activities			(2,982.7)						(1,847.0)						(2,447.8)
Cash flows from financing activities
Capital contribution from Parent			—						—						125.0
Net deposits (withdrawals) on deposit-type contracts and other insurance liabilities			340.0						(1.3)						556.7
Net receipts from (transfers to) Parent, subsidiaries, and affiliates			(1.9)						(1.7)						(17.6)
Dividends to Parent			—						(207.0)						—
Other, net			(696.2)						1,225.2						(100.1)
Net cash provided by (used in) financing activities			(358.1)						1,015.2						564.0
Net increase (decrease) in cash			(617.3)						1,300.3						(105.9)
Cash, cash equivalents, and short-term investments, beginning of year			2,258.9						958.6						1,064.5
Cash, cash equivalents, and short-term investments, end of year			$	1,641.6					$	2,258.9					$	958.6
Supplemental disclosures of cash flow information
Non-cash transactions during the year:
Bonds and stock exchanges			$	299.7					$	90.8					$	116.1
Initial premium ceded on reinsurance transactions			230.4						—						—
Initial ceding commission on reinsurance transactions			139.3						—						—
Mortgage loans – refinances			132.5						23.2						53.8
Amortization of option costs under Iowa Administrative Code 191-97			105.6						62.1						225.9
Present value of future commitments related to tax credits			83.3						34.1						1.6

See accompanying notes.

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

1. Description of Business

Symetra Life Insurance Company (the Company) is a stock life insurance company domiciled in the state of Iowa, and a wholly-owned subsidiary of Symetra Financial Corporation (the Parent), a Delaware Corporation. The Company has three wholly-owned subsidiaries: Symetra National Life Insurance Company, First Symetra National Life Insurance Company of New York, and Symetra Reinsurance Corporation (SRC). The Company's parent is a wholly-owned subsidiary of Sumitomo Life Insurance Company, a mutual company (sougo kaisha) organized under the laws of Japan.

The Company offers products and services that serve the retirement, employment-based benefits, and life insurance markets. These products and services are marketed through financial institutions, broker-dealers, financial professionals, independent agents, and benefits consultants in 49 states and the District of Columbia. The Company’s principal product lines include:

Retirement

Benefits

Individual Life

Fixed deferred annuities (DA)

Medical stop-loss insurance

Term life insurance

Fixed indexed annuities (FIA)

Group life insurance

Universal life (UL) insurance

Registered index-linked annuities (RILA)

Disability income (DI) insurance

Indexed universal life (IUL) insurance

Single premium immediate annuities (SPIA)

Short-term disability (STD)

Variable universal life (VUL) insurance

Long-term disability (LTD)

Bank-owned life insurance (BOLI)

Group voluntary benefits

Absence management

Paid family and medical leave

The Company also services a block of in-force income annuities that has been fully reinsured since 2018 and includes all of the Company's structured settlement annuities. Refer to Note 7 for further discussion.

2. Summary of Significant Accounting Policies

Basis of Presentation and Use of Estimates

The financial statements have been prepared in conformity with statutory accounting practices prescribed or permitted by the Iowa Insurance Division, Department of Insurance and Financial Services (the Department). Companies domiciled in the state of Iowa prepare their statutory-basis financial statements in accordance with the National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual, subject to any deviations prescribed or permitted by the Department.

Under Iowa Bulletin 07-06, the Department allows insurance companies with approval from the commissioner to use other than market value for assets held in a separate account where general account guarantees are present. The Company, with explicit permission from the Department, is permitted to account for the separate account assets related to its BOLI and RILA business at other than market value. The assets of the BOLI and RILA separate accounts primarily include bonds and commercial mortgage loans that are accounted for in accordance with the guidance otherwise applicable to these assets. Therefore, there is no impact to net income or surplus.

Under Iowa Bulletin 06-01, the Department allows insurance companies to record the change in the fair value of derivative instruments used to economically hedge indexed products in income, consistent with how the change in indexed product reserves is recorded. The Company uses this election for its IUL and RILA products. This election has no net impact on surplus.

Under Iowa Administrative Code (IAC) 191-97, the Department allows companies to account for eligible derivative assets using the amortized cost method if the company can demonstrate that they meet the criteria for an economic hedge. Furthermore, IAC 191-97 also prescribes the use of a reserve calculation methodology for indexed annuity products that only reflects credited interest on reserves at the conclusion of the index term based on actual index performance. The Company uses this election for its FIA products.

The Company has received explicit permission from the Department to record certain financial instruments held in segregated portfolios through income instead of surplus. These instruments are held in segregated portfolios related to investments supporting reinsurance transactions. The segregated portfolios include investments supporting a block of structured settlement annuities in connection with the Income Annuities Inforce Reinsurance Transaction in 2018 and others related to investments supporting blocks of FIA and DA in connection with the Symetra Bermuda Re Ltd. Reinsurance Transactions described in Note 7. The change in the fair value of these assets is settled with the reinsurers quarterly in accordance with the reinsurance agreements.

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The state of Iowa has adopted a prescribed accounting practice that differs from that found in the NAIC statutory accounting principles (SAP) related to the admission of a variable funding note as capital and surplus. SRC, a wholly-owned subsidiary of the Company, is entitled to admit as an asset the value of a variable funding note associated with a reinsurance agreement with the Company. There was no impact to net income. If SRC had not used this prescribed practice, the result would not have triggered a regulatory event at the Company. SRC's statutory surplus under the prescribed practice from the state of Iowa was $43.3 and $41.9 as of December 31, 2024 and 2023, respectively. SRC's statutory deficit would have been $31.5 and $33.0 as of December 31, 2024 and 2023, respectively, under SAP.

The impact of the practices described above are summarized as follows:

			For the Year Ended December 31,
			2024						2023						2022
Net income (loss) – Iowa basis			$	183.2					$	91.6					$	84.5
State prescribed practices:
Iowa Bulletin 06-01			(6.8)						(36.6)						50.7
IAC 191-97 – options			36.1						13.2						3.5
IAC 191-97 – reserves			(50.4)						(250.5)						146.4
State permitted practices:
Equity-type investments			(32.4)						(34.3)						59.0
Net income (loss) – NAIC basis			$	129.7					$	(216.6)					$	344.1

			As of December 31,
			2024						2023
Statutory surplus – Iowa basis			$	2,382.9					$	2,269.0
State prescribed practices:
Variable funding note			(74.8)						(74.9)
IAC 191-97 – options (1)			173.3						137.2
IAC 191-97 – reserves			(220.7)						(290.8)
Statutory surplus – NAIC basis			$	2,260.7					$	2,040.5

(1)In 2024, the Company elected to change its method for calculating the impact to surplus from the IAC 191-97 - options prescribed practice. Comparative prior year financial statement disclosures have been adjusted to apply the new methodology retrospectively. The originally reported impact to surplus from the IAC 191-97 - options prescribed practice was $(2.2), as of December 31,2023.

The preparation of financial statements in conformity with SAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The most significant estimates include those used to determine the following: valuation of policy and contract liabilities; the identification and measurement of other-than-temporary impairments (OTTI) of investments; and the admissibility of deferred tax assets (DTAs). The recorded amounts reflect management’s best estimates, though actual results could differ from those estimates. Such estimates and assumptions could change in the future as more information becomes available, which could impact the amounts reported and disclosed herein.

Certain reclassifications have been made to prior year financial information to conform to the current period presentation.

Statutory accounting practices are different in some respects from financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). The descriptions of the Company’s significant accounting policies below include the significant variances from GAAP. In 2016, the Company's Parent became a wholly-owned subsidiary of Sumitomo Life Insurance Company, an event which is referred to as the Merger. The Merger was accounted for under the acquisition method of accounting (purchase accounting, or PGAAP). In addition to the differences described, the Company's GAAP-basis financial results are also affected by the application of PGAAP, which results in further differences between GAAP and Statutory-basis accounting.

Accounting Pronouncements Newly Adopted

Statutory Ref No. 2023-29 IMR/AVR Specific Allocations

In 2024, the NAIC adopted revisions to the Annual Statement instructions to remove guidance permitting the allocation of non-interest related losses to interest maintenance reserve (IMR) and to clarify that they should be allocated to asset valuation reserve (AVR). The revisions were effective January 1, 2024. The adoption did not have any impact on the Company's financial statements.

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Statutory Ref No. 2023-29 IMR Preferred Stock

In 2024, the NAIC adopted revisions to the Annual Statement instructions to exclude realized gain or loss on perpetual preferred and mandatory convertible preferred stock from IMR and report them through AVR, regardless of NAIC designation. The adoption was effective March 2024. The adoption did not have any impact on the Company's financial statements.

Statutory Ref No. 2023-26 ASU 2023-06 Disclosure Improvements

In 2024, the NAIC adopted, with modification, certain disclosures from ASU 2023-06, Disclosure Improvements, Codification Amendments in response to the SEC's Disclosure Update and Simplification Initiative, for statutory accounting within SSAP No. 15 - Dept and Holding Company Obligations and SSAP No. 86 - Derivatives. The disclosure revisions include disclosures for unused commitments and lines of credit, disaggregated by short-term and long-term and disclosure of the derivative cash flow accounting policy. The adoption was effective immediately August 13, 2024. The adoption did not have any impact on the Company's financial statements, but did result in additional disclosures.

Statutory Ref No. 2022-14b State and Federal Tax Credits

In 2024, the NAIC adopted revisions to SSAP 94 - Transferable and Non-Transferable State Tax Credits which expanded the scope of the SSAP to include all purchased, and certain allocated, state and federal income or premium tax credits and provide new guidance on the accounting, recognition, and reporting for state and federal tax credits. The revisions are effective January 1, 2025, with early adoption allowed.

The Company early adopted the revisions as of January 1, 2024 on a prospective basis and updated its internal processes and controls to ensure compliance with the revised SSAP. The adoption did not have a material impact on the Company's financial statements or disclosures herein.

Statutory Ref. No. 2023-28 Collateral Loan Reporting

In 2024, the NAIC adopted revisions to SSAP No. 21 Collateral Loan Reporting: SAP Clarification, to incorporate a collateral loan disclosure to detail admitted and nonadmitted collateral loans in accordance with the underlying collateral supporting the loan. The revisions are effective and the Company adopted the revisions as of December 31, 2024 and updated its internal processes and controls to ensure compliance with the revised SSAP. The adoption did not have a material impact on the Company's financial statements or disclosures herein.

Statutory Ref No. 2022-19 Negative IMR

In 2023, the NAIC adopted interpretation (INT) 23-01 which provides a temporary, optional INT to allow reporting entities with risk-based capital (RBC) greater than 300%, after certain adjustments, admittance of net negative or disallowed IMR up to 10% of the reporting entity’s adjusted general account capital and surplus. The INT includes specific guidance regarding restrictions as to what should be included in or excluded from the IMR and calculations, specific guidance for general account versus separate accounts, as well as specific reporting and disclosure requirements. INT 23-01 is effective until December 31, 2025 and will be automatically nullified on January 1, 2026, but the effective date can be adjusted in response to regulatory actions to establish statutory accounting guidance specific to net negative or disallowed IMR.

The Company does not have negative IMR as of December 31, 2024. The Company has not yet elected to apply the optional INT, but is permitted to do so until January 1, 2026. The Company would evaluate the impact of the election on its policies, processes, and applicable systems and make a determination if IMR becomes net negative.

Accounting Pronouncements Not Yet Adopted

Statutory Ref No. 2019-21 Bond Definition

In 2023, the NAIC adopted revisions to SSAP No. 26, Bonds, and SSAP No. 43, Loan-Backed and Structured Securities, for the principles-based bond definition and the accounting for bonds (issuer credit obligations and asset-backed securities), as well as revisions to various SSAPs that have been updated to reflect the revised definition and/or SSAP references. The revisions are effective January 1, 2025.

The Company is currently evaluating the impact of the revised SSAPs and reviewing its policies, processes, and applicable systems to determine the impact the revisions will have on its operations and financial statements. The Company plans to adopt the revisions effective January 1, 2025.

Statutory Ref No. 2022-14a Investments in Tax Credit Structures

In 2024, the NAIC adopted new SAP concept revisions to expand the scope of SSAP No. 93, Low-Income Housing Tax Credit Property Investments to include all federal and state tax credit investment structures, regardless of structure and type of state or

    10

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

federal tax program, and provide new guidance on the accounting, recognition, and reporting of tax credit investment structures. The revisions are effective January 1, 2025.

The Company is currently evaluating the impact of the revised SSAPs and reviewing its policies, processes, and applicable systems to determine the impact the revisions will have on its operations and financial statements. The Company plans to adopt the revisions prospectively, effective January 1, 2025.

Statutory Ref No. 2023-17 Short-Term Investments

In 2023, the NAIC adopted revisions to SSAP No. 2, Cash, Cash Equivalents, Drafts, and Short-Term Investments. The adopted revisions further restrict the investments that are permitted to be reported as cash equivalent and short-term investments. The revisions are effective January 1, 2025.

No impact is expected on the Company's financial statements upon adoption. The Company plans to adopt the revisions effective January 1, 2025.

Statutory Ref. No. 2024-08 Consistency Revisions for Residuals

In 2024, the NAIC adopted revisions to incorporate clarifying edits for residuals, so that all applicable SSAPs refer to SSAP No. 21 - Other Admitted Assets for the formal definition of residuals and the accounting and reporting guidance.

The Company is currently evaluating the impact of the revised SSAPs and reviewing its policies, processes, and applicable systems to determine the impact the revisions will have on its operations and financial statements. The Company plans to adopt the revisions effective January 1, 2025.

Statutory Ref No. 2024-09 SSAP No. 2 Clarification

In 2024, the NAIC adopted revisions to eliminate lingering references implying that asset-backed securities, mortgage loans, or other Schedule BA items are permitted to be reported as cash equivalents or short-term investments. The revisions are effective January 1, 2025.

No impact is expected on the Company's financial statements upon adoption. The Company plans to adopt the revisions effective January 1, 2025.

Recognition of Premiums and Annuity Considerations

Premiums for UL policies and annuity considerations with mortality and morbidity risk are recognized as revenue when received. Premiums for traditional individual life policies are recognized annually on the policy anniversary, consistent with the statutory reserving process. Amounts received under deposit-type contracts with no life contingencies, including guaranteed interest and certain group annuity contracts, are recorded as liabilities when received.

Premiums for medical stop-loss policies, group life and DI policies, and absence management and group voluntary benefits policies are recognized when due. Certain types of these policies have retrospective rating features that require premium to be paid or refunded based on claims experience. The Company records its estimate for retrospective premiums in accordance with the terms of each contract as an adjustment to earned premium. The following table presents the amount of net premiums subject to retrospective rating features, and its percentage of total net premiums written on the Company's accident and health contracts:

			For the Year Ended December 31,
			2024												2023												2022
			Amount						%						Amount						%						Amount						%
Net premiums subject to retrospective rating features			$	105.1					17.7		%				$	90.3					17.0		%				$	101.6					18.6		%

Approximately 29% of 2024 premiums were from DA and FIA, 29% were from RILA, 16% were from UL, and 13% were from group life and DI. No other products represented more than 10% of premiums. Two financial institution distributors accounted for approximately 45% of the Company’s total DA, FIA, and RILA sales for the year ended December 31, 2024. DA and FIA sales represent premiums on new policies, net of first year policy lapses and/or surrenders.

Under GAAP, amounts received for UL policies and annuity contracts are reflected as liabilities rather than revenue when received, while traditional individual life premiums are recognized as revenue and considered earned when due.

    11

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Policy Acquisition Costs

The costs of acquiring and renewing policies are expensed when incurred.

Under GAAP, the Company defers costs that are directly related to the successful acquisition or renewal of insurance contracts. These primarily include commissions, distribution costs directly related to sales, third-party underwriting costs, and the portion of salaries and benefits directly related to processing successful new and renewal contracts. The Company amortizes acquisition costs over the lives of the contracts or policies. Additionally, in conjunction with the Merger, the Company recorded an asset that represented the right to receive future gross profits from cash flows and earnings of the Company's existing business, or value of business acquired (VOBA). The Company amortizes VOBA in the same manner as policy acquisition costs.

Investments

Bonds, Preferred Stocks, and Common Stocks

The Company carries bonds at amortized cost, using the constant yield method of amortization. Loan-backed securities, including mortgage-backed securities, are stated at amortized cost, and income is recognized using a constant effective yield based on anticipated prepayments and the estimated economic life of the securities. Prepayment assumptions are based on current interest rates and the economic environment. When actual prepayments differ significantly from anticipated prepayments, the effective yield is recalculated to reflect actual payments to date and estimated future payments. The net investment in the security is adjusted to the amount that would have existed had the new effective yield been applied since the acquisition of the security (i.e. the retrospective method). For commercial mortgage-backed interest-only securities, the effective yield is adjusted prospectively for any changes in estimated cash flows. The Company includes any resulting adjustment in net investment income in the current period. Bonds are recorded on a trade date basis, except for private placement bonds, which are recorded on the funding date.

All bonds in or near default, which have a NAIC designation of 6, are carried at the lower of amortized cost or fair value.

Redeemable preferred stocks which have characteristics of debt securities and are rated as medium quality or better (NAIC designations 1 to 3) are reported at cost or amortized cost. All other redeemable preferred stocks (NAIC designations 4 to 6) are reported at the lower of cost, amortized cost or fair value. Perpetual preferred stocks, which have characteristics of equity securities are reported at the lower of currently effective call price or fair value.

For those bonds and preferred stocks reported at fair value, the related change in net unrealized capital gains (losses) are recorded in unassigned funds, net of related deferred income taxes.

Unaffiliated common stocks are reported at fair value and the related net unrealized capital gains (losses) are recorded in unassigned funds, net of related deferred income taxes. Federal Home Loan Bank of Des Moines common stocks are reported at cost, which is presumed to be fair value.

Under GAAP, the Company classifies its investments in fixed maturities (bonds and redeemable preferred stocks) as either available-for-sale or trading securities and carries them at fair value. For available-for-sale securities, unrealized gains (losses) are recorded directly to accumulated other comprehensive income (AOCI), net of related deferred acquisition costs (DAC), VOBA, deferred sales inducements (DSI) adjustments, and deferred income taxes. Changes in the fair value of trading securities are reported as realized gains (losses). The Company carries marketable equity securities (common stock) at fair value with changes in fair value reported as realized gains (losses).

The Company’s investments in its insurance subsidiaries are included in affiliated common stocks and are carried at their underlying statutory equity, which was $266.5 and $257.8 as of December 31, 2024 and 2023, respectively. Changes in the carrying value of subsidiaries are recorded directly to unassigned funds (surplus). The Company owns no shares, either directly or indirectly, of the Parent. Under GAAP, the accounts and operations of the subsidiaries are consolidated.

The Company reports interest and dividends earned, including prepayment fees or interest-related make whole payments, in net investment income. Interest income for bonds is recognized using the effective yield method. When the collectability of interest income for bonds is considered doubtful, any accrued but uncollectible interest is deducted from investment income in the current period. The Company then places the securities on nonaccrual status, and they are not restored to accrual status until all delinquent interest and principal is paid.

Investments are considered to be impaired when a decline in fair value below a security’s amortized cost is determined to be other-than-temporary. The Company’s review of investment securities for OTTI includes both quantitative and qualitative criteria, and for loan-backed and structured securities, may include identification of the portion related to credit losses. See Note 3 for additional discussion about the Company’s process for identifying and recording OTTI.

Under GAAP, a fixed maturity with fair value below its amortized cost but is not intended to be sold, is evaluated to determine whether the decline in fair value has resulted from an expected credit loss or other factors (such as market interest rates). The

    12

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

amount of the expected credit loss equals the difference between amortized cost and recovery value of the security, and is limited by the amount that the fair value is less than the amortized cost basis. The expected credit loss is recorded as an allowance, with the initial recognition and subsequent changes recognized in earnings as a realized loss. Amounts determined uncollectible are written off as a reduction to the amortized cost and removed from the allowance. Any remaining non-credit related unrealized loss is recorded in AOCI.

Mortgage Loans

The Company carries mortgage loans on real estate at outstanding principal balances less any recognized impairment. Loans are specifically evaluated for impairment if the Company considers it probable that amounts due according to the terms of the loan agreement will not be collected, or the loan is modified in a troubled debt restructuring. For mortgage loans that the Company determines to be impaired, the Company charges the difference between the estimated fair value of the collateral and the recorded investment in the mortgage loan as a realized investment loss.

The Company accrues interest income on impaired loans to the extent that it is deemed collectible and the loan continues to perform under its original or restructured terms. Accrued interest income that is over 180 days past due and collectible is reported as a nonadmitted asset. Interest income on non-performing loans, defined generally as those in default, close to being in default, or more than 90 days past due, is recognized upon receipt. Loan origination fees are recorded in income upon receipt and origination costs are expensed when incurred.

Under GAAP, a majority of mortgage loans are carried at outstanding principal balances, adjusted for unamortized deferred fees and costs, net of an allowance for expected credit losses. Loan origination fees and costs are deferred and amortized over the life of the loan. Mortgage loans supporting a block of structured settlement annuities in connection with the Income Annuities Inforce Reinsurance Transaction (Note 7) are measured at fair value, with changes in fair value recorded in earnings as realized gains (losses).

Cash, Cash Equivalents, and Short-Term Investments

Cash and cash equivalents consist of cash on deposit and bonds used to facilitate liquidity needs. Cash and cash equivalents are carried at cost, which approximates fair value, and are consistent with GAAP. As of December 31, 2024 and 2023, $1,292.0, or 95.7%, and $1,247.4, or 96.4%, respectively, of total cash was held at one highly rated financial institution.

Short-term investments consist of bonds and other highly liquid investments such as short-term intercompany loans. Short-term bonds are recorded in the same manner as similar long-term investments, and are consistent with GAAP. Short-term intercompany loans are carried at the unpaid principal balance plus accrued interest, and are consistent with GAAP. See Note 13 for further discussion.

Derivatives

The Company uses derivative financial instruments to hedge certain portions of its exposure to equity market risk, interest rate risk, and foreign currency exchange risk. Derivative financial instruments currently held consist primarily of equity market contracts, interest rate swaps, and cross currency swaps.

The accounting for changes in the fair value of derivative instruments depends on whether it qualifies and has been designated for hedge accounting. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk of the hedged item. Effectiveness of the hedge is formally assessed at inception and throughout the life of the hedging relationship. Derivative instruments that qualify and are designated for hedge accounting are valued in a manner consistent with the items being hedged. If a derivative instrument does not qualify or is not designated for hedge accounting, it is recognized at fair value with the changes in its fair value recorded as unrealized gains or losses in surplus.

Cross currency swaps and the majority of our interest rate swaps qualify and are designated for hedge accounting and are recognized at amortized cost in the balance sheets. Periodic payments and receipts on these derivatives are recorded on an accrual basis within net investment income. Net realized capital gains (losses) are recognized upon termination or maturity of these contracts in a manner consistent with the hedged item, and when subject to the IMR, are transferred to the IMR, net of taxes.

Cash flows from derivative instruments that are designated and qualify for hedge accounting and economic hedges are reported consistently with the cash flows from the hedged item.

Pursuant to the prescribed practice discussed above, the index options for FIA products are accounted for using the amortized cost method, under which the cost is amortized through investment income on the statements of operations. When the options mature, any value received by the Company is reflected as net investment income. Index options for IUL and RILA products are recorded at fair value, with changes in fair value recorded in capital realized gains (losses) on the statements of operations. Pursuant to the permitted practice discussed above, foreign exchange forwards are recorded at fair value, with changes in fair

    13

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

value recorded in the statements of operations. Other derivatives that do not qualify or are not designated for hedge accounting are recognized at fair value with changes in fair value recorded as unrealized gains or losses in surplus.

The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is 21 years.

Under GAAP, derivative instruments are recorded at fair value, and changes in the fair value of derivative instruments are reported through earnings unless they qualify and are designated for hedge accounting. When a derivative is designated as a cash flow hedge and is determined to be highly effective, changes in its fair value are recorded as a component of AOCI and reclassified into net income in the same period during which the hedged transaction affects net income.

Other Invested Assets

Other invested assets consist primarily of limited partnership investments, including private debt, private equity, hedge funds, and tax credit investments. Tax credit investments are limited partnerships that are established to fund low-income housing projects and other qualifying purposes, where the primary return on investment is in the form of income tax credits.

The Company has commitments to fund its limited partnership (LP) investments. When the amounts and timing of expected contributions are estimable, the commitments are recorded as part of the carrying value of the investment. When the timing of call amounts is not known, the expected contribution is disclosed as an unfunded commitment.

LP investments held in a segregated portfolio support a block of structured settlement annuities in connection with the Income Annuities Inforce Reinsurance Transaction, and they are reported at net asset value (NAV) as a practical expedient to fair value. Pursuant to the permitted practice from the Department related to equity and equity-type investments discussed above, the changes in fair value of those LP investments are recorded in net realized gains (losses) on the statements of operations.

Under GAAP, limited partnership investments are recorded at fair value. Changes in the fair value of these investments are recorded in net realized gains (losses) on the consolidated statements of operations. The Company elected the fair value option for these investments, regardless of ownership percentage, to standardize the related accounting and reporting.

Tax credit investments primarily consist of low-income housing tax credits (LIHTC) investments. These investments are initially recorded at the present value of all expected contributions, which are considered unconditional and legally binding. Amortization of LIHTC investments is based on the proportion of tax benefits received in the current year to total estimated tax benefits to be allocated to the Company. Write downs for these investments are recorded when the carrying value of the investment exceeds the present value of remaining benefits and it has been determined that future tax benefits will not be received as expected. Write downs are recorded in net realized capital gains (losses).

Under GAAP, tax credit investments are accounted for under the equity method. Typically, the investment is written down over time as partnership losses are allocated to the Company or when the carrying value of the investment exceeds the total amount of remaining benefits. Activity related to these investments is recorded in net realized gains (losses).

Net Realized Capital Gains (Losses)

Net realized capital gains (losses) are determined on a specific-identification basis.

Nonadmitted Assets

Certain assets designated as nonadmitted and other assets not specifically identified as an admitted asset are excluded from the balance sheets and are charged directly to unassigned funds. Nonadmitted assets are composed principally of certain uncollected premiums and agents’ balances, DTAs, accounts and notes receivable, and other assets. Under GAAP, such assets are included in the balance sheets to the extent the assets are recoverable.

Reinsurance

The Company accounts for reinsurance premiums, commissions, expense reimbursements, benefits, and reserves related to reinsured business consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Premiums, benefits, and the reserves for policy and contract liabilities are reported net of reinsured amounts. For modified coinsurance agreements, the Company retains the assets and reserves of the underlying business on the balance sheets. The net impact from activity related to modified coinsurance agreements is shown on the reserve adjustment on reinsurance ceded on the statements of operations. For coinsurance with funds withheld agreements, the Company takes a reserve credit for reserves ceded and retains the assets on its balance sheets. A funds withheld liability is established initially for the amount of reserves that were ceded. The reserves are remeasured each period and changes are recorded as an adjustment to the funds withheld liability on the balance sheets.

    14

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Initial gains on reinsurance of existing in-force blocks of business are recorded as an increase to surplus, net of federal income tax. This increase to surplus is amortized into income, net of tax, as profits are recognized on the underlying business.

Under GAAP, future policy benefit reserves and policy and contract claims liabilities are reported gross of any related reinsurance recoverables, which are reported as assets. Certain reinsurance contracts meeting risk transfer requirements under SAP have been accounted for using traditional reinsurance accounting; whereas, such contracts are accounted for using deposit accounting under GAAP. For modified coinsurance agreements that do not qualify for reinsurance accounting under GAAP, the Company establishes a deposit asset, representing ceded reserves, and funds withheld liability, representing the assets supporting ceded reserves. The Company also recognizes an embedded derivative related to the funds withheld assets.

Refer to Note 7 for further discussion.

Benefit Reserves

Aggregate reserves for payment of future life, health, and annuity benefits are based on published tables in accordance with applicable actuarial standards. The reserves are at least as great as the minimum aggregate amounts required by the Department. Liabilities related to other policyholders' funds left on deposit are equal to the account balances. Surrender values on policies do not exceed the corresponding benefit reserves.

Additional reserves are established if the results of cash flow testing under various interest rate scenarios indicate the need for such reserves, or if the net premiums exceed the gross premiums on any insurance in-force. For substandard lives, either extra premium is charged or the gross premium for a rated age is charged; mean reserves are determined by computing the regular mean reserve for the plan at any rated age and, in addition, holding one-half of any extra premium charge for the year. The Company does not use anticipated investment income as a factor in its premium deficiency calculation.

Tabular interest, tabular reserves less actual reserves released, and tabular cost are determined by formula. Tabular interest on funds not involving life contingencies for each valuation rate of interest are calculated as the change in reserves minus premiums plus benefits.

The Company waives deduction of deferred fractional premiums upon the death of the insured and returns any premium beyond the date of death.

Reserves for deposit-type contracts that do not subject the Company to risks arising from policyholder mortality or morbidity are equal to deposits received and interest credited to the benefit of the contract holders, less surrenders or withdrawals that represent a return to the contract holders.

Aggregate reserves on group life and accident and health policies represent the estimated ultimate net cost of all reported and unreported claims at the balance sheet date. For group long-term disability and group life premium waiver, the liabilities for losses and loss/claim adjustment expense on reported claims are classified as Disabled Life Reserves (DLR); these reserves are calculated on a seriatim basis using tabular methods and discounted for interest, with assumptions reviewed on an annual basis. The remaining aggregate reserves on these group benefit products are for unreported claims and are classified as incurred but not reported (IBNR); these reserves are calculated using a blend of completion factors and loss ratio assumptions. Assumptions and adequacy are reviewed quarterly.

Under GAAP, policy reserves are calculated based on estimated expected experience or actual account balances. For traditional individual life policies, policy reserves are estimated as the present value of expected future policy benefits less future net premiums. For group long-term disability and group life premium waiver policies, policy reserves are calculated consistent with the method described above under SAP but with assumptions appropriate for GAAP. Liabilities for DA contracts, and the fixed account portion of FIA, RILA and UL policies are equal to the account value without regard to any surrender fees. The liability for the indexed account portions of contracts with indexed or index-linked features (indexed products) represent the present value of future estimated guaranteed benefits, as well as embedded derivatives related to expected index credits on these contracts and policies. The embedded derivatives are recorded at fair value. Indexed products include FIA, RILA, and Indexed UL.

Policy and Contract Claims

Claims reserves on life, and accident and health policies represent the estimated ultimate cost of all reported and unreported claims, net of reinsurance, as of the balance sheet date. The reserves for reported but unpaid claims incurred are estimated using individual valuations and statistical analyses. The liability held for pending life insurance claims is equal to the face amount of the policy. For medical stop-loss, group life and DI policies, and absence management and group voluntary benefits policies, the reserves are for unreported claims and are classified as IBNR and calculated as described above.

Under GAAP, the liability for pending claims for UL policies, including BOLI and variable corporate owned life insurance (COLI) products, equals the net amount at risk, which is the face amount of the policy, less the account value. The IBNR claim liability does not include a provision for adverse deviation.

    15

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Asset Valuation Reserve

The AVR provides a valuation allowance for invested assets and is calculated based on a formula prescribed by the NAIC. This reserve acts to mitigate potential credit-related losses on invested assets. Changes in the AVR are reflected directly in unassigned funds. No such reserve exists under GAAP.

Interest Maintenance Reserve

The IMR defers after-tax realized capital gains (losses) resulting from the effect of changes in the general level of interest rates on the disposal or interest-related impairment of bonds. These deferrals are based on a formula prescribed by the NAIC and are amortized into income over the approximate remaining life of the investment sold or impaired, using the grouped method. Realized interest-related gains or losses that arise from the sale of investments required to provide cash flow to meet "excess withdrawal activity" are excluded from the IMR. Under GAAP, realized investment gains (losses) from sales and impairments are reported in earnings in the period in which the assets are sold, and no such reserve is recorded.

Federal Income Taxes

The Company is included as a member of a consolidated federal income tax return group under the Parent. The method of allocation of current income taxes between the affiliates is subject to a written agreement approved by each respective company’s board of directors. Income tax expense is allocated to those entities within the group as if each individual entity filed a separate return. Current tax credits are determined on the basis of utilization by the consolidated group. The provision for federal income taxes is based on amounts determined to be payable as a result of current year operations. Intercompany balances are settled quarterly.

Deferred federal income taxes are provided for differences between the book and tax bases of assets and liabilities. In determining admissibility, gross DTAs are subject to a statutory valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the gross DTAs will not be realized. The gross DTAs remaining after the application of a statutory valuation allowance, if any, are admitted subject to admissibility tests. Remaining DTAs after application of the admissibility tests are nonadmitted. Changes in deferred taxes are recorded directly to unassigned funds.

Under GAAP, DTAs are recognized only to the extent that it is more likely than not they will be realized. A valuation allowance is established when DTAs cannot be recognized. Changes in deferred taxes are reported in earnings or as a component of AOCI. Refer to Note 11 for further discussion.

Separate Accounts

Separate account assets represent segregated funds administered and invested for the exclusive benefit of policyholders. For variable separate account products, the assets of these separate accounts consist of designated underlying funds and are reported at fair value. Investment risks associated with fair value changes are borne by the policyholders. Separate account liabilities represent reserves established to meet withdrawal and future benefit payment provisions of contracts with these policyholders. The separate account assets are not subject to liabilities arising out of any other business the Company may conduct.

The Company administers separate accounts for BOLI policyholders. The assets of these accounts include bonds and mortgage loans. Pursuant to the accounting elections discussed above, bonds are held at amortized cost and mortgage loans are held at outstanding principal loan balance less any recognized impairment. The majority of these assets are legally segregated and are not subject to claims that arise out of the Company’s other business activities. The liabilities of these separate accounts represent reserves established to meet withdrawal and future benefit payment provisions of contracts with the policyholders.

The Company also administers separate accounts relating to index-linked funds for RILA policyholders. The assets of these accounts include bonds (and bond-like securitizations), mortgage loans, common stock, and derivatives. Pursuant to the accounting elections discussed above, bonds are held at amortized cost, mortgage loans are held at outstanding principal loan balance less any recognized impairment, and common stock and derivatives are carried at fair value. Changes in fair value of index options are reported as net realized capital gains (losses) and as a change in surplus for all other derivative types. Except for contracts issued in Texas, Alaska, and Washington, these assets are not legally segregated and are subject to claims that arise out of the Company's other business activities. The liabilities of these separate accounts represent reserves established to equal the policyholder cash surrender value on index-linked funds.

The operations of all separate accounts, excluding investment gains (losses) allocatable solely to the policyholders, are combined with the general account of the Company on the statements of operations under the appropriate captions. Transactions such as premium deposits, surrenders, and withdrawals are offset by a corresponding increase or decrease in net transfers to the separate accounts.

    16

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

For variable universal life contracts, the Company offers a secondary guarantee that the policy remains in force even if the policy account value is below zero. For variable annuity contracts with guaranteed minimum death benefits (GMDB), the Company contractually guarantees death benefits that may exceed a policyholder's account balance. The Company reinsures most of the GMDB risk on its variable annuity contracts.

Under GAAP, separate account assets are reported at fair value. Separate account liabilities are set equal to separate account assets. Investment activity accrues directly to the policyholders and are not included in the Company’s revenue. Assets and liabilities associated with BOLI policies and RILA contracts do not qualify for separate account treatment under GAAP, as the Company retains the investment risk.

Subsequent Events

The Company has evaluated the effects of events subsequent to December 31, 2024, and the accounting and disclosure requirements related to subsequent events are included in the financial statements. Management has assessed material subsequent events through March 25, 2025, the date the financial statements were available to be issued.

Reconciliation of Statutory-Basis Amounts to GAAP-Basis Amounts

The following tables present a reconciliation of net income and capital and surplus of the Company, as determined in accordance with SAP to amounts determined in accordance with GAAP:

			Net Income (Loss)
			For the Year Ended December 31,
			2024						2023						2022
Statutory-basis net income (loss), as reported			$	183.2					$	91.6					$	84.5
Add (deduct) adjustments:
Investments			(1,281.7)						(1,195.1)						321.7
Reserves			938.5						644.7						(78.6)
Policy acquisition costs and VOBA			330.0						195.7						142.6
Goodwill			(56.3)						(56.3)						(56.3)
Other intangible assets			(69.6)						(69.6)						(69.6)
Federal income taxes			52.4						197.5						(45.8)
Federal income taxes on net capital gains			(19.9)						(7.2)						(30.8)
Other			29.4						21.6						37.1
Total adjustments			(77.2)						(268.7)						220.3
GAAP-basis net income (loss)			$	106.0					$	(177.1)					$	304.8

    17

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

			Total Capital and Surplus
			As of December 31,
			2024						2023
Statutory-basis total capital and surplus, as reported			$	2,382.9					$	2,269.0
Add (deduct) adjustments:
Investments			(320.8)						(527.5)
Reserves			11,836.9						7,409.8
Policy acquisition costs and VOBA			1,994.3						1,846.2
Goodwill			278.2						337.8
Other intangible assets			721.8						791.5
Federal income taxes			75.7						82.5
Non-admitted assets			290.8						267.2
Reinsurance liabilities			1,519.9						1,194.1
Derivative liabilities			(137.4)						(88.2)
Funds held under coinsurance agreements			(15,941.1)						(10,901.8)
Other			41.9						93.6
Total adjustments			360.2						505.2
GAAP-basis shareholder's equity			$	2,743.1					$	2,774.2

Accounting Changes and Correction of Errors

Accounting Changes

The Company had no accounting changes in 2024 or 2022. In 2023, the Company elected to record the realized capital gains (losses) on terminations or maturities of derivative assets under IAC 191-97 in net investment income. Prior to this election, the realized gains (losses) on terminations or maturities of these derivative assets were reported as realized capital gains (losses) in the statements of operations. This change aligns the reporting of amortization and any realized gains (losses) on such terminations or maturities within net investment income on the statements of operations. This election has no impact to net income or surplus.

Correction of Errors

The Company recorded error corrections through beginning of year surplus in accordance with SSAP No. 3, Accounting Changes and Correction of Errors totaling $(9.9) and $2.8 for the years ended December 31, 2024 and 2023, respectively.

    18

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

3. Investments

The book/adjusted carrying value and fair value of investments in bonds, preferred stocks, and common stocks are as follows:

			As of December 31, 2024
			Book/ Adjusted Carrying Value						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Bonds:
U.S. government and agencies			$	470.7					$	—					$	(10.1)					$	460.6
Foreign governments and agencies			58.7						—						(12.8)						45.9
States, territories, and possessions			3.1						—						—						3.1
Political subdivisions			45.9						—						(3.3)						42.6
Special revenue and assessments			465.1						1.7						(39.0)						427.8
Industrial and miscellaneous			20,595.2						148.7						(1,241.4)						19,502.5
Hybrid securities			395.1						8.4						(11.0)						392.5
Collateralized loan obligations:
Industrial and miscellaneous			8,183.8						39.6						(14.2)						8,209.2
Mortgage- and asset-backed securities:
U.S. government and agencies			27.2						—						(2.9)						24.3
Special revenue and assessments			199.1						0.5						(34.9)						164.7
Industrial and miscellaneous			3,359.2						37.2						(114.6)						3,281.8
Total bonds			33,803.1						236.1						(1,484.2)						32,555.0
Preferred stocks			110.7						—						(5.6)						105.1
Unaffiliated common stocks			518.8						22.9						(0.7)						541.0
Total			$	34,432.6					$	259.0					$	(1,490.5)					$	33,201.1

			As of December 31, 2023
			Book/ Adjusted Carrying Value						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Bonds:
U.S. government and agencies			$	968.4					$	5.4					$	(6.5)					$	967.3
Foreign governments and agencies			69.1						—						(11.7)						57.4
States, territories, and possessions			4.6						—						(0.1)						4.5
Political subdivisions			48.2						0.1						(3.2)						45.1
Special revenue and assessments			559.2						2.1						(39.5)						521.8
Industrial and miscellaneous			19,170.5						229.4						(1,161.6)						18,238.3
Hybrid securities			322.4						1.4						(22.2)						301.6
Collateralized loan obligations:
Industrial and miscellaneous			7,258.3						7.8						(93.8)						7,172.3
Mortgage- and asset-backed securities:
U.S. government and agencies			34.7						0.1						(2.2)						32.6
Special revenue and assessments			183.4						1.0						(32.0)						152.4
Industrial and miscellaneous			3,364.8						20.8						(173.8)						3,211.8
Total bonds			31,983.6						268.1						(1,546.6)						30,705.1
Preferred stocks			106.4						—						(7.1)						99.3
Unaffiliated common stocks			359.7						7.7						(3.1)						364.3
Total			$	32,449.7					$	275.8					$	(1,556.8)					$	31,168.7

    19

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The Company maintains a diversified investment portfolio across industries. The following table presents the composition of the Company's bonds, preferred stocks, and common stocks by sector:

			As of December 31,
			2024												2023
			Fair Value						% of Total						Fair Value						% of Total
Financials			$	16,281.6					49.0		%				$	14,292.8					45.8		%
Utilities			2,471.6						7.4						2,302.8						7.4
Consumer discretionary			2,198.5						6.6						1,975.2						6.3
Industrials			2,156.7						6.5						2,355.5						7.6
Consumer staples			2,017.5						6.1						1,983.4						6.4
Health care			1,717.6						5.2						1,607.8						5.2
Energy			1,553.2						4.7						1,761.8						5.7
Communications			1,293.2						3.9						1,370.2						4.4
Other			3,511.2						10.6						3,519.2						11.2
Total			$	33,201.1					100.0		%				31,168.7						100.0		%

The following table summarizes the contractual years to maturity of bonds as of December 31, 2024. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.

			Book/ Adjusted Carrying Value						Fair Value
Years to maturity:
One or less			$	2,053.4					$	2,037.7
Over one through five			8,368.4						8,256.3
Over five through ten			5,143.2						4,891.0
Over ten			6,300.5						5,521.7
Total with contractual maturity dates			21,865.5						20,706.7
Securities without contractual maturities			11,937.6						11,848.3
Total bonds			$	33,803.1					$	32,555.0

The following table summarizes the Company’s net investment income:

			For the Year Ended December 31,
			2024						2023						2022
Income:
Bonds			$	1,690.0					$	1,499.7					$	1,176.9
Preferred and common stocks			29.6						25.7						19.7
Mortgage loans			422.5						338.4						322.3
Derivatives (1)			26.0						(120.3)						(215.9)
Other invested assets			27.7						(5.1)						(7.4)
Cash, cash equivalents, and short-term investments			112.8						113.5						10.7
Other			5.9						3.6						3.6
Total investment income			2,314.5						1,855.5						1,309.9
Investment expenses			(122.1)						(98.3)						(69.2)
Net investment income			$	2,192.4					$	1,757.2					$	1,240.7
____________________

(1)For the years ended 2024, 2023 and 2022, the balance included $(324.7), $(260.3), and $(225.9), respectively, of amortization of option costs under IAC 191-97. Refer to Note 2 for further discussion.

    20

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The following table summarizes the realized capital gains (losses) from investment sales, dispositions, and write downs:

			For the Year Ended December 31,
			2024						2023						2022
Bonds			$	(46.9)					$	(138.0)					$	(139.7)
Preferred and common stocks			55.2						32.5						14.5
Derivatives and other invested assets			61.5						87.0						29.2
Realized capital gains (losses) before federal income taxes and transfer from IMR			69.8						(18.5)						(96.0)
Federal income tax benefit (expense)			(8.4)						19.7						(9.6)
Amount transferred to the IMR			43.4						101.3						78.8
Net realized capital gains (losses)			$	104.7					$	102.5					$	(26.8)

The following table presents the proceeds from sales of bonds (excluding call and maturity proceeds), and the gross gains and losses realized on those sales:

			For the Year Ended December 31,
			2024						2023						2022
Proceeds from sales of bonds			$	3,919.2					$	5,079.9					$	2,743.2
Gross gains			21.7						28.8						49.7
Gross losses			(47.7)						(137.1)						(121.3)

Unrealized Losses and OTTI

The following tables summarize gross unrealized losses and fair values of the Company’s bonds, preferred stocks, and unaffiliated common stocks, presented by length of time that individual securities have been in a continuous loss position:

			As of December 31, 2024
			Less Than 12 Months																		12 Months or More
			Fair Value						Gross Unrealized Losses						# of Securities						Fair Value						Gross Unrealized Losses						# of Securities
Bonds:
U.S. government and agencies			$	173.8					$	(2.8)					11						$	82.4					$	(7.3)					7
Foreign governments and agencies			—						—						—						45.9						(12.8)						5
States, territories, and possessions			—						—						—						3.1						—						1
Political subdivision			18.0						(1.1)						4						23.1						(2.2)						6
Special revenue and assessments			39.6						(0.6)						10						350.8						(38.3)						54
Industrial and miscellaneous			4,298.1						(100.2)						676						9,304.5						(1,141.2)						1,205
Hybrid securities			34.1						(0.2)						4						140.5						(10.8)						12
Collateralized loan obligation			1,015.7						(2.9)						68						254.5						(11.3)						61
Mortgage and asset-backed securities			480.6						(5.8)						78						1,459.7						(146.7)						212
Total bonds			6,059.9						(113.6)						851						11,664.5						(1,370.6)						1,563
Preferred stocks			—						—						—						65.8						(5.6)						6
Unaffiliated common stocks			28.2						(0.7)						6						—						—						3
Total			$	6,088.1					$	(114.3)					857						$	11,730.3					$	(1,376.2)					1,572

    21

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

			As of December 31, 2023
			Less Than 12 Months																		12 Months or More
			Fair Value						Gross Unrealized Losses						# of Securities						Fair Value						Gross Unrealized Losses						# of Securities
Bonds:
U.S. government and agencies			$	24.3					$	(0.1)					6						$	85.2					$	(6.4)					7
Foreign governments and agencies			1.3						—						1						56.2						(11.7)						5
States, territories, and possessions			—						—						—						4.5						(0.1)						1
Political subdivision			12.0						(0.2)						1						31.6						(3.0)						9
Special revenue and assessments			14.5						(0.1)						4						447.4						(39.4)						69
Industrial and miscellaneous			950.0						(11.4)						197						12,060.2						(1,150.2)						1,508
Hybrid securities			81.0						(2.9)						12						189.1						(19.3)						18
Collateralized loan obligation			639.4						(2.3)						59						4,676.5						(91.5)						438
Mortgage- and asset-backed securities			394.6						(6.1)						62						1,762.4						(201.9)						241
Total bonds			2,117.1						(23.1)						342						19,313.1						(1,523.5)						2,296
Preferred stocks			—						—						—						62.5						(7.1)						5
Unaffiliated common stocks			72.1						(2.8)						14						9.0						(0.3)						6
Total			$	2,189.1					$	(25.9)					356						$	19,384.6					$	(1,530.9)					2,307

The Company reviewed its investments with unrealized losses as of December 31, 2024 and 2023 in accordance with its impairment policy. The Company’s evaluation determined, after the recognition of OTTI, that the remaining declines in fair value were temporary and the Company did not intend to sell these securities at an amount below the carrying value prior to maturity (or recovery). For loan-backed bonds and structured securities, the Company expects to recover the entire amortized cost basis.

The Company uses both quantitative and qualitative criteria to review all securities in its holdings. Based on the Company's experience, investments with amortized cost exceeding estimated fair value by less than 20% do not typically represent a significant risk of impairment under normal market conditions. For those with amortized cost exceeding estimated fair value by over 20% and those that were downgraded by a rating agency, the Company compares the security's implied credit spread to the benchmark spread for bonds with significant credit risk. If the security's spread exceeds the defined tolerance compared to this benchmark, the Company further analyzes the decrease in fair value to determine whether it is an other-than-temporary impaired by considering, among other factors, the following:

•Extent of downgrades of the security by a rating agency;

•Extent and duration of the decline in fair value below cost or amortized cost;

•Financial condition and near-term prospects of the issuer of the security, including any specific events that may affect its operations, earnings potential, or compliance with terms and covenants of the security;

•Changes in the financial condition of the security’s underlying collateral;

•Nonpayment of scheduled interest, or the reduction or elimination of dividends; and

•Other indications that a credit loss has occurred.

For bonds and preferred stocks, the Company concludes an OTTI has occurred if a security is underwater and there is an intent to sell the security, or it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost, considering any regulatory developments, prepayment or call notifications, and the Company's liquidity needs. For OTTI on bonds other than loan-backed and structured securities, an impairment loss equal to the difference between the bond’s carrying value and its fair value is recognized within the statements of operations.

Loan-backed and structured securities are considered other-than-temporarily impaired when the Company has concluded it does not have the intent and ability to retain the security for sufficient time to recover the amortized cost basis, it intends to sell the security prior to maturity at an amount below the carrying value, or it does not expect to recover the entire amortized cost basis even if it has the intent and ability to hold.

When an OTTI has occurred due to the Company’s intent to sell the security or the Company has assessed it does not have the intent and ability to retain the security until sufficient time to recover the amortized cost basis, an impairment loss equal to the difference between the security's carrying value and its fair value is recognized within the statements of operations.

    22

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

When an OTTI has occurred because the Company does not expect to recover the entire cost basis, even if the Company has the intent and ability to hold the security, an impairment loss equal to the difference between the security's carrying value and its estimated recovery value is recognized within the statements of operations. The estimated recovery value is calculated as the present value of cash flows expected to be collected, discounted at the effective rate immediately prior to the recognition of the OTTI.

To determine the recovery value of a loan-backed or structured security, the Company performs an analysis related to the underlying issuer including, but not limited to, the following:

•Expected cash flows from the security;

•Creditworthiness;

•Delinquency, debt-service coverage, and loan-to-value ratios on the underlying collateral;

•Underlying collateral values, vintage year, and level of subordination;

•Geographical concentrations; and

•Susceptibility to prepayment due to changes in the interest rate environment.

The Company records OTTI charges on bonds, common stock, and preferred stock as net realized capital losses on the statements of operations. The largest write-downs were from investments in the following sectors:

			For the Year Ended December 31,
			2024												2023												2022
			Amount						% of Total						Amount						% of Total						Amount						% of Total
U.S. government (1)			$	5.7					35.2		%				$	16.5					79.4		%				$	12.5					40.2		%
Industrials			4.7						29.3		%				2.1						9.9						1.6						5.1
Energy			1.9						11.5		%				—						—						1.3						4.2
Financials			1.2						7.7		%				0.8						4.0						2.7						8.7
Utilities			0.8						4.7		%				—						—						2.1						6.8
Consumer discretionary			0.7						4.0		%				1.1						5.4						8.9						28.6
Communications			0.5						3.0		%				—						—						1.0						3.2
Other			0.7						4.6		%				0.3						1.2						1.0						3.2
Impairment losses recognized in earnings			$	16.2					100.0		%				$	20.8					100.0		%				$	31.1					100.0		%
____________________

(1)Impairments on U.S. Federal Government securities are due to the Company's intent to sell and reflect the impact of interest rate movements.

Based on NAIC ratings as of December 31, 2024 and 2023, the Company held below-investment-grade bonds with fair values of $1,742.5 and $1,173.9, respectively, and book/adjusted carrying values of $1,774.5 and $1,223.5, respectively. These holdings amounted to 5.4% and 3.8% of the Company’s investments in bonds at fair value as of December 31, 2024 and 2023, respectively.

Restricted Assets

The table below provides a summary of restricted assets at book/adjusted carrying value:

			As of December 31,
			2024																		2023
			Total Pledged & Restricted Assets						% of Total Assets						% of Total Admitted Assets						Total Pledged & Restricted Assets						% of Total Assets						% of Total Admitted Assets
Restricted assets in connection with reinsurance transactions (1)			$	18,663.8					32.4		%				32.6		%				$	13,420.7					25.2		%				25.4		%
Federal Home Loan Bank of Des Moines (FHLB DM) capital stock			166.8						0.3						0.3						147.1						0.3						0.3
State deposits			5.9						—						—						6.9						—						—
Pledged collateral to FHLB DM			6,213.8						10.8						10.9						5,702.1						10.7						10.8
Other pledged collateral			169.1						0.3						0.3						184.6						0.3						0.3
Total restricted assets			$	25,219.4					43.8		%				44.1		%				$	19,461.4					36.6		%				36.8		%
____________________

(1)Includes bonds, stocks, mortgage loans, cash, and other invested assets contractually restricted to use related to the Company's reinsurance transactions.

    23

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Funding Agreements with Federal Home Loan Bank of Des Moines

The Company is a member of the Federal Home Loan Bank of Des Moines (FHLB DM). Membership allows access to the FHLB DM's funding services, which provide an alternative liquidity source, including the ability to obtain loans and issue funding agreements that are collateralized by qualifying assets. The Company has issued funding agreements to the FHLB DM to support an institutional spread program, where the Company earns income primarily from the difference between investment income earned and interest paid on the funding agreements. Maximum borrowing capacity varies based on a percentage of total assets, subject to availability of eligible collateral and internal authorization limits. Eligible collateral includes CMBS, RMBS, government or agency securities, and mortgage loans.

The table below presents amounts related to FHLB DM:

			As of December 31,
			2024						2023
Membership stock – Class B (1)			$	10.0					$	10.0
Activity stock			156.8						137.1
Total			$	166.8					$	147.1
Outstanding funding agreements (2)			$	3,485.6					$	3,047.1
Collateral held at FHLB DM, at carrying value (3)			6,213.7						5,702.1
Actual or estimated borrowing capacity as determined by the Company			4,578.9						4,230.8
____________________

(1)Class B membership stock is not eligible for redemption.

(2)The outstanding funding agreements as of December 31, 2024 and 2023 represent the total reserves established, which was recorded in liability for deposit-type contracts on the balance sheets. The outstanding funding agreements as of December 31, 2024 and 2023 also represent the maximum amount outstanding during the years ended December 31, 2024 and 2023, respectively. The Company does not have any prepayment obligations related to the outstanding funding agreements.

(3)As of December 31, 2024 and 2023, the fair value of the Company's collateral held at FHLB DM was $5,720.3 and 5,288.0, respectively. The carrying value and fair value also represent the maximum amount pledged during the years ended December 31, 2024 and 2023, respectively.

Low-Income Housing Tax Credits

The Company held LIHTC investments of $158.7 and $81.3 as of December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company had up to 13 remaining years of unexpired credits related to LIHTC investments. The Company's remaining required holding period for these investments was between 1 and 17 years as of December 31, 2024.

The Company recognized LIHTC tax credits of $3.3, $4.1, and $8.0 during the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024, the Company had remaining commitments of $139.4 to its LIHTC investments. These properties are not currently subject to any regulatory review.

4. Mortgage Loans

The Company's mortgage loan portfolio is secured by first-mortgage liens on income-producing commercial real estate, primarily in the retail, industrial, and office building sectors. The Company's mortgage loan portfolio is considered a single portfolio segment and class of financing receivables, which is consistent with how the Company assesses and monitors the risk and performance of the portfolio. A large majority of these loans have personal guarantees and all mortgaged properties are inspected annually.

The Company's mortgage loan portfolio is diversified by geographic region, loan size, and scheduled maturity. As of December 31, 2024, the state with the largest concentration of the Company's mortgage loans was California, comprising 26.2% of total outstanding principal. Of the loans in California, 62.0% are related to properties located in Southern California.

The maximum and minimum lending rates for mortgage loans issued during 2024, were 9.1% and 5.0%, respectively. The maximum and minimum lending rates for mortgage loans issued during 2023, were 8.8% and 4.3%, respectively. The maximum and minimum lending rates for mortgage loans issued during 2022 were 6.8% and 2.6%, respectively.

Loans are underwritten based on loan-to-value (LTV) ratios and debt-service coverage ratios (DSCR), as well as detailed market, property, and borrower analyses. The LTV and DSCR are used by the Company to determine the internal credit quality of mortgage loans. The LTV ratio compares the carrying value of the loan to the fair value of the underlying collateral. The DSCR compares a property's net operating income to its debt-service payments. Generally, a lower LTV ratio and higher DSCR indicate a higher quality loan. The Company updates each loan's LTV ratio every quarter based on the carrying value of the property, while property information (such as property value and income for DSCR) is updated annually, primarily during the third quarter.

    24

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The maximum LTV for any one loan was 76.9%, 70.0%, and 70.0% for loans funded during the years ended December 31, 2024, 2023, and 2022, respectively. The weighted average LTV ratio for the Company’s mortgage loan portfolio was 46.6% and 44.9% as of December 31, 2024 and 2023, respectively.

The following table sets forth the Company's mortgage loans by credit quality indicator:

			As of December 31, 2024																		As of December 31, 2023
			DSCR																		DSCR
LTV ratio			1.50x or Greater						Less Than 1.50x						Total						1.50x or Greater						Less Than 1.50x						Total
Less than 65%			$	7,255.4					$	785.3					$	8,040.7					$	6,521.0					$	660.8					$	7,181.8
Between 65% and 80%			299.6						487.4						787.0						277.1						320.6						597.7
Greater than 80%			24.9						24.7						49.6						—						47.4						47.4
Total commercial mortgage loans			$	7,579.9					$	1,297.4					8,877.3						$	6,798.1					$	1,028.8					$	7,826.9
Other mortgage loans, net															23.3																		24.0
Total															$	8,900.6																	$	7,850.9

Non-performing loans, defined generally as those in default, close to being in default, or more than 90 days past due, are placed on non-accrual status. Loans are specifically evaluated for impairment if the Company considers it probable that amounts due according to the terms of the loan agreement will not be collected, or the loan is modified in a troubled debt restructuring. As of December 31, 2024, one loan with an outstanding principal balance of $2.1 was considered impaired. As of December 31, 2023, no outstanding loans were determined to be impaired.

5. Derivative Instruments

The Company uses derivative financial instruments to hedge certain portions of its exposure to equity market risk, interest rate risk, and foreign currency exchange risk. Derivative instruments may be exchange-traded or contracted in the over-the-counter (OTC) market. The Company has established policies for managing its derivatives, including prohibitions on derivatives market-making and other speculative derivatives activities.

Derivative Exposures

The following tables present the notional amounts, carrying amounts, and fair values of the Company’s derivative assets and liabilities. On the balance sheet, derivative contracts in a liability position are included in other liabilities.

			As of December 31, 2024
									Carrying Amount												Fair Value
			Notional						Assets						Liabilities						Assets						Liabilities
Derivatives designated as cash flow hedges:
Interest rate swaps			$	3,756.5					$	—					$	—					$	4.9					$	135.4
Cross currency swaps			861.6						61.3						2.3						64.6						0.3
Treasury bond forwards			341.9						—						—						—						40.2
Treasury locks			85.5						—						—						—						8.0
Derivatives not designated as hedges:
Index options			12,985.2						331.9						4.8						559.4						6.8
Interest rate caps and floors			1,132.7						0.1						18.1						0.1						18.1
Foreign exchange forwards			21.9						0.4						—						0.4						—
Futures			47.0						11.3						0.9						11.3						0.9
Total derivatives			$	19,232.3					$	405.0					$	26.1					$	640.7					$	209.7

    25

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

			As of December 31, 2023
									Carrying Amount												Fair Value
			Notional						Assets						Liabilities						Assets						Liabilities
Derivatives designated as cash flow hedges:
Interest rate swaps			$	2,358.3					$	—					$	—					$	16.4					$	127.1
Cross currency swaps			980.4						27.6						8.8						37.8						7.4
Treasury bond forwards			443.6						$	—					$	—					$	0.7					$	7.9
Treasury locks			141.0						—						—						—						2.3
Derivatives not designated as hedges:
Index Options			11,632.4						227.8						3.3						420.7						4.6
Interest rate caps and floors			1,172.7						1.7						24.8						1.7						24.8
Futures			47.5						15.7						—						15.7						—
Total derivatives			$	16,775.9					$	272.8					$	36.9					$	493.0					$	174.1

Interest Rate Swaps

The Company uses interest rate swaps as part of its interest rate risk management strategy. In an interest rate swap transaction, the Company agrees with other parties to exchange, at specified intervals, the difference between floating-rate and fixed-rate interest amounts calculated by reference to an agreed upon notional principal amount. The Company primarily uses interest rate swaps to synthetically convert variable rate bonds, including investments in collateralized loan obligations, to fixed-rate bonds. These derivatives qualify and are designated as cash flow hedges.

Cross Currency Swaps

The Company uses cross currency swaps as part of its foreign currency risk management strategy to reduce foreign exchange rate risk with respect to the Company's investments denominated in foreign currencies. In a cross currency swap transaction, the Company agrees with other parties to exchange, at specified intervals, one currency for another at a specified rate of exchange. Generally, the notional amount of each currency is exchanged at the maturity of the currency swap by each party. Cross currency swaps derivatives qualify and are designated as cash flow hedges.

Treasury Bond Forwards and Treasury Locks

The Company uses treasury bond forwards and treasury locks as part of its interest rate risk management strategy. In a bond forward, the Company agrees to buy or sell a bond at a fixed price on the maturity date. In a treasury lock, the Company agrees to make or receive a payment based upon the difference between the strike rate and current issuance rates. The Company primarily uses treasury bonds forwards and treasury locks to mitigate fluctuations in expected interest income. These derivatives qualify and are designated as cash flow hedges.

Equity Market Contracts – Indexed and Index-linked Products

The Company uses index call options and futures as part of its equity market risk management strategy. The Company offers indexed and index-linked products that permit the contract holder to allocate all or a portion of their account value to an indexed component that credits interest based on the performance of an index, subject to caps, floors, or performance margins set by the Company. The contract holders may elect to rebalance index options at renewal dates, typically annually. As of each renewal date, the Company has the opportunity to re-price the indexed component by establishing revised cap rates or performance margins, subject to contractual guarantees. The Company transacts in index call options and futures according to the portfolio allocation decisions of the contract holders such that the Company is economically hedged with respect to equity returns for the current interest term. These derivatives are not designated for hedge accounting.

Interest Rate Caps and Floors

The Company uses interest rate caps and floors as part of its interest rate risk management strategy pertaining to floating-rate investments. The Company will generally take a long position using an interest rate floor to hedge against the risk of falling reference rates, and may choose to partially or fully finance such floor by taking a short position using an interest rate cap. When done in combination, the long floor and short cap combination is referred to as a collar. The collar provides protection against reference rates falling below the floor’s strike price, but also results in the Company forfeiting potential gains should the reference rates rise above the cap’s strike price. The Company does not designate these derivatives for hedge accounting.

    26

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Collateral Arrangements

The Company’s derivative contracts are primarily non-centrally-cleared OTC instruments that are governed by an International Swaps and Derivatives Association (ISDA) Master Agreement. For each Master Agreement, the Company and the counterparty have also entered into a credit support annex (CSA) to reduce the risk of counterparty default in derivative transactions. The CSA requires either party to post cash collateral or other financial assets in accordance with the net exposure from all derivative contracts between the parties. The amount of net exposure is the difference between the derivative contract's fair value and the fair value of the collateral held for the CSA with each counterparty. Collateral amounts required to be posted or received are determined daily based on the net exposure with each counterparty under a master netting agreement.

The Company does not offset recognized collateral amounts pledged or received against the fair value amounts recognized for derivative contracts on the balance sheets.

For certain centrally-cleared instruments, the Company is required to post initial margin, which is determined at contract inception, as well as variation margin, which is based on the fair value of the derivative contracts and generally determined on a daily basis. As of December 31, 2024 and 2023, the Company posted initial margin of $36.6 and $41.3, respectively, related to its centrally-cleared derivatives. These amounts are not reflected in collateral presented in the tables below.

For non-centrally-cleared instruments, the Company is subject to uncleared margin rules, which under certain circumstances, may require the Company to post or collect initial margin for bilateral OTC derivatives with one or more counterparties. As of December 31, 2024, and 2023, the Company posted initial margin of $18.9 and $2.6, respectively, related to its non-centrally-cleared derivatives. These amounts are not reflected in collateral presented in the tables below.

In the balance sheets, the Company recognizes cash collateral received in cash, cash equivalents, and short-term investments and the obligation to return cash collateral as a liability. Non-cash collateral received is not recognized in the balance sheets. In the event of default, the counterparty relinquishes claim to the assets pledged as collateral and the Company recognizes the collateral as its own asset recorded at fair value, or, in the case of cash collateral, derecognizes its obligation to return collateral.

The following table presents the potential effect of netting arrangements on the Company's balance sheets:

									Gross Amounts Not Offset on the Balance Sheets
			Fair Value						Financial Instruments (1)						Cash Collateral Received/Pledged (2)						Net Amount						Securities Collateral Received/Pledged(3)						Net Amount After Securities Collateral
December 31, 2024
Derivative assets			$	640.7					$	(165.2)					$	(173.0)					$	302.5					$	(277.1)					$	25.4
Derivative liabilities			209.7						(165.2)						(7.9)						36.6						(34.8)						1.8
December 31, 2023
Derivative assets			$	493.0					$	(96.2)					$	(362.3)					$	34.5					$	(17.5)					$	17.0
Derivative liabilities			174.1						(96.2)						(38.3)						39.6						(39.0)						0.6
____________________

(1)Represents amount of offsetting derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets or liabilities for presentation on the balance sheet.

(2)The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreement.

(3)Securities collateral received from counterparties is not reported on the balance sheets and may or may not be sold or re-pledged unless the counter party is in default. Amounts do not include excess of collateral pledged or received.

6. Fair Value of Financial Instruments

The Company determines the fair value of its financial instruments based on the fair value hierarchy, which favors the use of observable inputs over the use of unobservable inputs when measuring fair value. The Company uses the same pricing methodology and sources as utilized for obtaining GAAP fair values.

The Company has categorized its financial instruments into the three-level hierarchy, which 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). The level assigned to a fair value measurement is based on the lowest-level input that is significant to the measurement. The fair value measurements for the Company's financial instruments are categorized as follows:

•    Level 1 – Unadjusted quoted prices in active markets for identical instruments.

•    Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, model-derived valuations whose inputs are observable, and market corroborated inputs.

    27

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

This category includes those financial instruments that are valued using industry-standard pricing methodologies or models. All significant inputs are observable or derived from observable information in the marketplace.

•    Level 3 – Fair value estimates whose significant inputs are unobservable. This includes financial instruments for which fair value is estimated based on industry-standard pricing methodologies and internally developed models utilizing significant inputs not based on or corroborated by readily available market information. In limited circumstances, this may also utilize estimates based on non-binding broker quotes.

The following tables present financial instruments carried at fair value:

			As of December 31, 2024
			Level 1						Level 2						Level 3						Total
Assets at fair value: (1)
Bonds			$	—					$	4.4					$	—					$	4.4
Preferred stocks			—						53.2						—						53.2
Unaffiliated common stocks			374.2						—						166.8						541.0
Derivatives			11.3						101.5						10.9						123.7
Separate account assets (2)			1,121.7						771.7						5.5						1,898.9
Total assets at fair value			$	1,507.2					$	930.8					$	183.2					$	2,621.2
Liabilities at fair value:
Derivatives			$	0.9					$	18.3					$	0.7					$	19.9
Separate account liabilities			—						113.2						0.2						113.4
Total liabilities at fair value			$	0.9					$	131.5					$	0.9					$	133.3
____________________

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are measured using the NAV practical expedient. The fair value of these investments was $520.4 as of December 31, 2024. These investments have varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to invested assets that are measured using the net asset value (NAV) as a practical expedient. The fair value of these investments was $16.7 as of December 31, 2024.

			As of December 31, 2023
			Level 1						Level 2						Level 3						Total
Assets at fair value: (1)
Bonds			$	—					$	0.8					$	—					$	0.8
Preferred stocks			—						43.9						—						43.9
Unaffiliated common stocks			217.2						—						147.1						364.3
Derivatives			15.7						70.5						11.9						98.1
Separate account assets (2)			1,033.8						312.4						13.8						1,360.0
Total assets at fair value			$	1,266.7					$	427.6					$	172.8					$	1,867.1
Liabilities at fair value:
Derivatives			$	—					$	24.9					$	0.3					$	25.3
Separate account liabilities			—						45.3						1.3						46.6
Total liabilities at fair value			$	—					$	70.3					$	1.7					$	71.9
____________________

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are measured using the NAV practical expedient. The fair value of these investments was $524.5 as of December 31, 2023. These investments have varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to alternative investments that are measured using the NAV practical expedient. The fair value of these investments was $15.3 as of December 31, 2023. These investments have varying investment strategies, and redemption terms and conditions.

    28

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The following tables present the book/adjusted carrying values and corresponding fair values of financial instruments subject to fair value disclosure requirements, categorized by the fair value hierarchy described above:

			As of December 31, 2024
			Carrying Values						Fair Value						Level 1						Level 2						Level 3
Financial assets:
Bonds			$	33,803.1					$	32,555.0					$	168.3					$	31,599.5					$	787.2
Preferred stocks			110.7						105.1						—						105.1						—
Unaffiliated common stocks			541.0						541.0						374.2						—						166.8
Mortgage loans			8,900.6						8,392.9						—						—						8,392.9
Other invested assets (1)			177.7						77.9						—						12.2						65.7
Cash, cash equivalents, and short-term investments			1,641.6						1,641.7						1,387.8						253.9						—
Derivatives			405.0						640.7						11.3						589.4						40.0
Separate account assets (2)			9,602.1						8,789.4						1,236.2						6,733.4						819.8
Financial liabilities:
Derivatives			26.1						209.7						0.9						207.8						1.0
Separate account liabilities			106.7						113.4						—						113.2						0.2
Deposit-type contracts			4,550.0						4,638.4						—						—						4,638.4
____________________

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are measured using the NAV practical expedient. The fair value of these investments was $520.4 as of December 31, 2024. These investments have varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to invested assets that are measured using the NAV as a practical expedient. The fair value of these investments was $16.7 as of December 31, 2024.

			As of December 31, 2023
			Carrying Values						Fair Value						Level 1						Level 2						Level 3
Financial assets:
Bonds			$	31,983.6					$	30,705.1					$	60.8					$	29,943.7					$	700.6
Preferred stocks			106.4						99.3						—						99.3						—
Unaffiliated common stocks			364.3						364.3						217.2						—						147.1
Mortgage loans			7,850.9						7,318.5						—						—						7,318.5
Other invested assets (1)			86.2						68.7						—						7.8						60.9
Cash, cash equivalents, and short-term investments			2,258.9						2,156.9						1,294.6						862.3						—
Derivatives			272.8						493.0						15.7						419.2						58.1
Separate account assets (2)			8,052.5						7,375.2						1,095.0						5,556.6						723.7
Financial liabilities:
Derivatives			36.9						174.1						—						173.1						1.0
Separate account liabilities			43.8						46.6						—						45.3						1.3
Deposit-type contracts			4,212.7						4,433.3						—						—						4,433.3
____________________

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are measured using the NAV practical expedient. The fair value of these investments was $524.5 as of December 31, 2023. These investments have varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to invested assets that are measured using the NAV as a practical expedient. The fair value of these investments was $15.3 as of December 31, 2023.

Financial Instruments Measured at Fair Value on a Recurring Basis

Unaffiliated Common Stocks

The Company's unaffiliated common stocks primarily include FHLB DM common stock and publicly traded common stocks. The FHLB DM common stock has no readily available market information to support pricing. The value is based on redeemable par

    29

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

value and is therefore classified as a Level 3 measurement. The publicly traded common stocks are based on quoted market prices in active markets for identical assets and are classified as a Level 1 measurement.

Derivatives

A majority of the derivatives are index options that consist primarily of Standard & Poor's 500 Index® (S&P 500) options. The fair values of these index options were determined using option pricing models. Significant inputs include index implied volatilities, index dividend yields, index prices, a risk-free rate, option term, and strike price. As these inputs are observable, most index options are classified as a Level 2 measurement. Options without public and observable inputs are classified as a Level 3 measurement.

Separate Account Assets and Liabilities

Separate account assets related to the Company's variable products are primarily invested in mutual funds with published NAVs and are classified as a Level 1 measurement. Separate account assets and liabilities related to the Company's RILA products include investments in derivatives, which are valued using the same methodologies described above.

Other Financial Instruments Subject to Fair Value Disclosure Requirements

Bonds

Bonds are primarily classified as Level 2 measurements. To make this assessment, the Company determines whether the market for a security is active and if significant pricing inputs are observable. The Company predominately utilizes third-party independent pricing services that use evaluated pricing models to assist management in determining the fair value of its bonds.

As many of these bonds do not trade on a daily basis, evaluated pricing models apply available information through processes such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing to prepare valuations. The significant inputs for these bond valuations include benchmark U.S. Treasury or other yields, spread off the U.S. Treasury yield curve for identical securities, reported trades, broker-dealer quotes, comparable securities that are actively traded, issuer spreads, two-sided markets, benchmark securities, bids, offers, and other reference data, including market research publications. In addition, for mortgage- and asset-backed securities, the pricing services use models and processes to develop prepayment and interest rate scenarios. The pricing services monitor market indicators, industry and economic events, and their models take into account market convention.

In situations where the Company is unable to obtain sufficient market-observable information upon which to estimate the fair value of a particular security, fair values are determined using internal pricing models that typically utilize significant, unobservable market inputs or inputs that are difficult to corroborate with observable market data. Such measurements are classified as Level 3 and typically include private placements and other securities that pricing services are unable to price.

Preferred Stocks

The fair values of preferred stocks are valued by pricing services utilizing evaluated pricing models. These valuations are created based on benchmark curves using industry standard inputs and exchange prices of underlying securities of the same issuer. As these inputs are considered observable, preferred stocks are classified as a Level 2 measurement.

Mortgage Loans

The fair values of the Company’s mortgage loans are determined by discounting the projected future cash flows using a discount rate equal to the risk-free rate plus a valuation spread. The valuation spread is an unobservable input that includes management's assumptions of the impact of credit risks. Significant increases or decreases in this spread results in significant changes in fair value; therefore, mortgage loans are classified as a Level 3 measurement.

Other Invested Assets

Other invested assets consists of investments in LPs of private debt, private equity, hedge funds and in tax credit LPs.

The majority of the LP investments are not traded in an active market and qualify to be measured using NAV as a practical expedient. Certain investments are priced by independent pricing services utilizing evaluated pricing models and are classified as a Level 2 measurement. Evaluated pricing models apply available information through processes such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing to prepare valuations. The significant observable inputs for security evaluations include benchmark yields, reported trades, executable broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, new issues, prepayment speeds, and other reference data, including market research publications. Remaining investments in LPs utilize significant unobservable inputs, and are therefore classified as a Level 3 measurement.

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The fair value of the tax credit interests is estimated based on the discounted future economic benefits over the remaining life of each investment, using a market rate of return based on similar investments observed by brokers. The future economic benefits are based on assumptions about the partnerships' future performance and related tax benefits passed through to the Company, net of the Company's obligations to make future investment contributions. Because these estimates utilize significant unobservable inputs, investments in tax credit LPs are classified as a Level 3 measurement.

Cash, Cash Equivalents, and Short-Term Investments

Cash and cash equivalents consist of demand bank deposits and short-term highly liquid investments with original maturities of three months or less at the time of purchase. Because cash equivalents are readily convertible to known amounts of cash, carrying value generally approximates fair value and are primarily classified as Level 1. Short-term investments consist of investments with a maturity date of less than one year. The majority of these investments are bonds which are classified as a Level 2 measurement.

Derivatives

Cross currency swaps and interest rate swaps are valued using an income approach. These swaps are priced using a discounted cash flow model. The significant inputs for cross currency swaps include the projected cash flows, currency spot rates, swap yield curve, and cross currency basis curve. As these inputs are observable, the cross currency swaps valuation is classified as a Level 2 measurement. The significant inputs for interest rate swaps include the projected cash flows, timing of payments, the discount rate, and the forward rate. As these inputs are observable, the interest rate swaps valuation is classified as a Level 2 measurement.

Separate Account Assets and Liabilities

Separate account assets related to the Company's fixed BOLI and RILA products primarily consist of bonds, commercial mortgage loans, and cash that are valued using the same methodologies described above.

Deposit-type Contracts

Deposit-type contracts consist of FHLB funding agreements and certain annuities with payout provisions which do not include life contingencies within the scope of SSAP 100 - Fair Value. The fair values for these investments are generally derived from the present value of liability cash flows. The significant inputs include the projected liability cash flows from actuarial cash flow testing models and discount rates that are representative of the Company's financial strength ratings. As these inputs are unobservable, they are classified as Level 3 investments.

Rollforward of Assets and Liabilities Measured and Reported as Level 3

The following table presents additional information about assets measured and reported at fair value and for which significant unobservable inputs (Level 3) were utilized to determine fair value:

			For the Year Ended December 31,
			2024						2023
Balance, beginning of period			$	159.0					$	133.0
Total gains (losses) included in net income			(9.2)						(6.4)
Total gains (losses) included in surplus			(4.5)						—
Purchases			90.4						32.8
Sales			(49.4)						—
Settlements			(8.6)						(0.4)
Balance, end of period (1)			$	177.7					$	159.0

(1)Does not include amounts related to Separate Accounts.

7. Reinsurance

The Company uses reinsurance across its businesses to spread risk and limit losses. The Company remains liable to its policyholders to the extent that counterparties to reinsurance contracts do not meet their obligations. Reserve credit taken for all ceded reinsurance, including affiliated and unaffiliated was $2,540.3 and $2,073.1 as of December 31, 2024 and 2023, respectively. The Company's reinsurance agreements are described below.

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Medical Stop-Loss

For business written or renewed after October 1, 2024, the Company reinsures the excess of $4.0 per individual claim. For business written or renewed prior to October 1, 2024, the Company reinsured the excess of $3.25 per individual claim. This agreement qualifies for GAAP reinsurance accounting.

The Company has a coinsurance with funds withheld arrangement to manage its risk-based capital position on a majority of its medical stop-loss block of business, as well as new policies issued subsequent to January 1, 2019 (Stop-Loss Reinsurance). This agreement does not qualify for reinsurance accounting under GAAP.

Group Life & DI

Starting in 2019, the Company primarily reinsures group life mortality risk in excess of $0.40 per individual and line of coverage. The Company reinsures morbidity risk in excess of $8.0 thousand of gross monthly benefit per life. The Company also has catastrophic coverage for group life policies. These agreements qualify for GAAP reinsurance accounting.

DA and FIA

The Company has a coinsurance with funds withheld arrangement (2021 GLWB Reinsurance) to manage its statutory capital position on a block of FIA policies with guaranteed lifetime withdrawal benefits (GLWB) issued from January 1, 2021 through December 31, 2023. This agreement does not qualify for GAAP reinsurance accounting.

The Company has a coinsurance with funds withheld arrangement to provide relief from U.S. statutory reserving strain under the commissioner's annuity reserve method (CARVM) for certain DA policies that were issued beginning January 1, 2024. This agreement covers a quota share of each base policy's coverage benefits and the guaranteed minimum surrender value on an individual basis. This agreement does not qualify for reinsurance accounting under GAAP.

The Company has a reinsurance agreement for an 80% quota share of certain fixed indexed annuities and fixed deferred annuities issued beginning January 1, 2022. See Symetra Bermuda Re Ltd. Reinsurance Transactions discussion below.

The Company had a reinsurance agreement to manage its statutory capital position related to fixed deferred and fixed indexed annuities that have a guaranteed return of premium feature and were issued beginning in 2017. This agreement does not qualify for reinsurance accounting under GAAP. The Company recaptured the treaty as of October 1, 2023.

SPIA and Structured Settlements

The Company has a reinsurance agreement to transfer financial responsibility for its in-force block of income annuity contracts, which consists of all of the Company's structured settlements and a smaller block of SPIA. This agreement does not qualify for reinsurance accounting under GAAP. See Income Annuities Inforce Reinsurance Transaction discussion below.

Term and Universal Life

The Company's reinsurance coverage varies by product, policy issue year, and issue age of the insured. For fully underwritten policies issued subsequent to April 2017, the Company retains up to a maximum of $5.0 per life. For fully underwritten policies issued between March 2013 and April 2017, the Company retains up to a maximum of $3.0 per life. These agreements qualify for GAAP reinsurance accounting.

The Company has a coinsurance with funds withheld reinsurance arrangement (Term Life Reinsurance) to manage its statutory capital position on a block of term life insurance policies subject to principle-based reserving method issued subsequent to January 1, 2020 and a block of term life insurance policies subject to Regulation XXX issued prior to 2020. In 2024, this agreement was amended to change the target funds withheld percentages to economic reserve levels for certain term products, which resulted in additional financing at the amendment effective date. This agreement does not qualify for reinsurance accounting under GAAP.

The Company has a coinsurance with funds withheld and a yearly renewable term reinsurance arrangement to manage its statutory capital position on a block of UL policies with secondary guarantees largely issued between January 2015 and December 2019 (GUL Reinsurance). The GUL Reinsurance is on a combined coinsurance with funds withheld and yearly renewable term basis. This agreement does not qualify for GAAP reinsurance accounting.

The Company has a coinsurance with funds withheld arrangement with a third party reinsurer, as well as an excess loss reinsurance agreement with its subsidiary, Symetra National Life Insurance Company, to manage its statutory capital position on survivorship guaranteed universal life policies. This agreement does not qualify for reinsurance accounting under GAAP.

    32

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

In addition, the Company has a funds withheld reinsurance agreement with its wholly-owned subsidiary, Symetra Reinsurance Corporation. The Company ceded all net policy liabilities related to a block of universal life insurance policies with secondary guarantees issued on or before December 31, 2014. The balance of funds withheld was $236.5 and $226.3 as of December 31, 2024 and 2023, respectively. This agreement does not qualify for reinsurance accounting under GAAP.

Income Annuities Inforce Reinsurance Transaction

The Company has a 100% modified coinsurance agreement (Income Annuities Inforce Reinsurance Transaction), which was effective as of July 1, 2018, for the Company's in-force block of income annuities issued prior to October 1, 2017, which included all of the Company's structured settlement annuities, and a smaller amount of retail SPIA. Under the terms of the agreement, future economic impacts of the reinsured business were transferred to the reinsurer, including interest rate risk, mortality risk, and credit risk on invested assets. As of December 31, 2024 and 2023, the related reserves were $4.5 billion and $4.7 billion, respectively. The Company continues to service the reinsured business and hold the associated invested assets and policyholder liabilities on its balance sheets. The reinsurer is responsible for the management of invested assets, subject to investment management guidelines.

Associated with the Income Annuities Inforce Reinsurance Transaction, a portion of the ceding commission was recorded as an adjustment to liability for deposit-type contracts on the Company's balance sheets and is amortized over the life of the contracts into benefits expense. The withheld assets supporting the net statutory reserves of the reinsured business are reported as investments on the balance sheets and are legally owned by the Company.

The Company remains liable to its policyholders to the extent that the reinsurer does not meet its contractual obligations. In the event of the reinsurer's insolvency, the Company would reclaim the withheld assets supporting the reserve liabilities. The Company has the ability to offset amounts due to the reinsurer with amounts owed from the reinsurer, as well as access to amounts held in trust, which reduces the risk of loss.

Intercompany Reinsurance Agreements

Symetra Bermuda Re Ltd. Reinsurance Transactions

In 2022, the Company entered into a modified coinsurance agreement (Deferred Annuity New Business Reinsurance Transaction) with SBR, an affiliated Bermuda reinsurer wholly-owned by the Parent, to reinsure an 80% quota share of certain fixed indexed annuities and fixed deferred annuities issued beginning January 1, 2022. Under the terms of the agreement, future economic impacts of the reinsured business were transferred to the reinsurer on a modified coinsurance basis, including interest rate risk, mortality risk, and credit risk on invested assets. This agreement does not qualify for reinsurance accounting under GAAP.

At inception, the Company paid SBR an initial settlement of $2.1 billion, comprised primarily of $2.3 billion of ceded premium, less a ceding commission of $0.2 billion. The Company received $2.2 billion in invested assets as part of the settlement. The Company continues to write new business and service the reinsured annuities.

In June 2024, the Company executed an amendment (2024 GLWB Reinsurance Transaction) to the modified coinsurance agreement with SBR to also reinsure FIA policies with GLWB that were issued beginning January 1, 2024.

In October 2024, the Company executed an amendment to this agreement with SBR to permit the Company to enter into other reinsurance agreements providing reserve credit with respect to the contracts reinsured under this agreement.

On a quarterly basis, the Company pays premiums, net of surrenders and a ceding and expense allowance, to the reinsurer. The ceded premiums are recorded as premiums and annuity considerations, and the ceding and expense allowance received is recorded as commission and expense allowance on reinsurance ceded on the statements of operations. The withheld assets supporting the net statutory reserves of the reinsured business are reported as investments on the balance sheets and are legally owned by the Company. The associated invested assets and policyholder liabilities are held on the Company's balance sheets. As of December 31, 2024 and 2023, the amounts due to SBR for quarterly reinsurance settlements were $104.6 and $18.7, respectively.

    33

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The following table presents significant reinsurance activities between the Company and SBR:

			For the Year Ended December 31,
			2024						2023						2022
Ceded premiums (1)			$	5,116.3					$	4,767.2					$	2,282.2
Ceded surrenders			(339.0)						(167.7)						(21.6)
Ceding and expense allowance			(346.4)						(304.6)						(165.4)
____________________

(1)Includes premiums related to internal exchanges

As of December 31, 2024 and 2023, total ceded reserves for SBR were $13.3 billion and $7.9 billion, respectively.

In the event of the reinsurer's insolvency, the Company would reclaim the withheld assets supporting the reserve liabilities. The Company has the ability to offset amounts due to the reinsurer with amounts owed from the reinsurer.

Reinsurance Recoverables

The Company evaluates the financial condition of its reinsurers to monitor its exposure to losses from reinsurers’ insolvencies. The Company analyzes reinsurance recoverables, net of assets held in trust and funds withheld required by the related reinsurance agreements, according to the credit ratings and financial health of its reinsurers and is not aware of any of its major reinsurers currently experiencing financial difficulties.

Excluding the Income Annuities Inforce Reinsurance Transaction and Symetra Bermuda Re Ltd. Reinsurance Transactions discussed above, as of December 31, 2024, $1,226.7 of net reinsurance recoverables was related to four reinsurers, representing 93.6% of the total amount due from reinsurers. As of December 31, 2023, $913.0 of net reinsurance recoverables was related to four reinsurers, representing 91.7% of the total amount due from reinsurers. Of the total amounts due from reinsurers, 99.3% and 99.0%, was with reinsurers rated A- or higher by A.M. Best or S&P as of December 31, 2024 and 2023, respectively. The Company had no write-offs or reserves for uncollectible reinsurance in 2024. During 2023, the Company had a write-off of $1.3 due to the settlement of a reinsurance recoverable.

Premiums and Annuity Considerations

The following table sets forth the effect of reinsurance on premiums and annuity considerations. It is disaggregated by accident and health, and life insurance and annuity products, which are short- and long-duration contracts, respectively.

			For the Year Ended December 31,
			2024						2023						2022
Direct life insurance in-force			$	222,946.1					$	183,201.0					$	152,116.2
Direct:
Accident and health			1,390.9						1,356.7						1,139.1
Life insurance			1,147.8						990.7						920.6
Annuity			7,648.9						6,849.3						5,287.8
Total direct premiums			10,187.6						9,196.7						7,347.5
Ceded:
Accident and health			(795.9)						(824.8)						(593.8)
Life insurance			(197.1)						(146.4)						(158.8)
Annuity			(5,269.6)						(4,697.1)						(3,144.6)
Total ceded premiums			(6,262.6)						(5,668.3)						(3,897.2)
Net premiums and annuity considerations			$	3,925.0					$	3,528.4					$	3,450.3
Percentage of amount assumed to net			—%						—%						—%

Ceded reinsurance reduced the Company’s claims reported on the statements of operations by $814.7, $816.2, and $599.8 for the years ended December 31, 2024, 2023, and 2022, respectively.

    34

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

8. Life and Annuity Reserves

The following tables present the Company’s annuity reserves and deposit fund liabilities by withdrawal characteristics, including those held in separate account liabilities:

			As of December 31, 2024
Individual Annuities			General Account												Separate Account NonGuaranteed						Total						% of Total
Subject to discretionary withdrawal:
With fair value adjustment			$	14,012.4											$	—					$	14,012.4					39.1		%
At book value less surrender charge of 5% or more (1)			10,189.5												3,036.6						13,226.1						36.9
At fair value			—												303.8						303.8						0.8
Total with adjustment or at fair value			24,201.9												3,340.4						27,542.3						76.8
At book value without adjustment (minimal or no charge or adjustment)			5,568.5												122.6						5,691.1						15.9
Not subject to discretionary withdrawal			2,612.6												—						2,612.6						7.3
Total gross individual annuity actuarial reserves			32,383.0												3,463.0						35,846.0						100.0		%
Less: reinsurance ceded			431.1												—						431.1
Total net individual annuity actuarial reserves			$	31,951.9											$	3,463.0					$	35,414.9
____________________

(1)Includes $1,316.5 general account and $195.1 non-guaranteed separate account that will have less than 5% surrender charge and thus be reported with the amounts at book value with minimal or no charge or adjustment for the first time within the year subsequent to December 31, 2024.

			As of December 31, 2024
Group Annuities			General Account												Separate Account NonGuaranteed						Total						% of Total
Subject to discretionary withdrawal:
With fair value adjustment			$	51.8											$	—					$	51.8					8.6		%
At fair value			—												151.5						151.5						25.0
Total with adjustment or at fair value			51.8												151.5						203.3						33.6
At book value without adjustment (minimal or no charge or adjustment)			401.9												—						401.9						66.3
Not subject to discretionary withdrawal			0.6												—						0.6						0.1
Total group annuity actuarial reserves			$	454.3											$	151.5					$	605.8					100.0		%

			As of December 31, 2024
Deposit-type Contracts			General Account												Separate Account NonGuaranteed						Total						% of Total
Subject to discretionary withdrawal:
With fair value adjustment			$	452.0											$	—					$	452.0					9.7		%
At fair value			—												0.2						0.2						—
Total with adjustment or at fair value			452.0												0.2						452.2						9.7
At book value without adjustment (minimal or no charge or adjustment)			36.4												—						36.4						0.8
Not subject to discretionary withdrawal			4,153.5												—						4,153.5						89.5
Total gross deposit-fund liabilities			4,641.9												0.2						4,642.1						100.0		%
Less: reinsurance ceded			39.0												—						39.0
Total net deposit-fund liabilities			$	4,602.9											$	0.2					$	4,603.1

    35

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

			As of December 31, 2023
Individual Annuities			General Account												Separate Account NonGuaranteed						Total						% of Total
Subject to discretionary withdrawal:
With fair value adjustment			$	11,193.4											$	—					$	11,193.4					34.9		%
At book value less surrender charge of 5% or more (1)			10,088.0												1,870.1						11,958.1						37.2
At fair value			—												291.8						291.8						0.9
Total with adjustment or at fair value			21,281.4												2,161.9						23,443.3						73.0
At book value without adjustment (minimal or no charge or adjustment)			6,346.0												—						6,346.0						19.8
Not subject to discretionary withdrawal			2,326.7												—						2,326.7						7.2
Total gross individual annuity actuarial reserves			29,954.1												2,161.9						32,116.0						100.0		%
Less: reinsurance ceded			205.2												—						205.2
Total net individual annuity actuarial reserves			$	29,748.9											$	2,161.9					$	31,910.8
____________________

(1)Includes $2,434.5 general account and $134.7 non-guaranteed separate account that will have less than 5% surrender charge and thus be reported with the amounts at book value with minimal or no charge or adjustment for the first time within the year subsequent to December 31, 2023.

			As of December 31, 2023
Group Annuities			General Account												Separate Account NonGuaranteed						Total						% of Total
Subject to discretionary withdrawal:
With fair value adjustment			$	54.7											$	—					$	54.7					8.8		%
At fair value			—												141.0						141.0						22.6
Total with adjustment or at fair value			54.7												141.0						195.7						31.3
At book value without adjustment (minimal or no charge or adjustment)			428.3												—						428.3						68.6
Not subject to discretionary withdrawal			0.7												—						0.7						0.1
Total group annuity actuarial reserves			483.7												141.0						624.7						100.0		%

			As of December 31, 2023
Deposit-type Contracts			General Account												Separate Account NonGuaranteed						Total						% of Total
Subject to discretionary withdrawal:
With fair value adjustment			$	538.6											$	—					$	538.6					12.5		%
At fair value			—												0.2						0.2						—
Total with adjustment or at fair value			538.6												0.2						538.8						12.5
At book value without adjustment (minimal or no charge or adjustment)			29.5												—						29.5						0.7
Not subject to discretionary withdrawal			3,733.8												—						3,733.8						86.8
Total gross deposit-fund liabilities			4,301.9												0.2						4,302.1						100.0		%
Less: reinsurance ceded			46.0												—						46.0
Total net deposit-fund liabilities			$	4,255.9											$	0.2					$	4,256.1

    36

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Total annuity actuarial reserves and deposit fund liabilities were as follows:

			As of December 31,
			2024						2023
Annuity reserves			$	32,406.2					$	30,232.6
Liability for deposit-type contracts			4,602.9						4,255.9
Separate account – annuity reserves and liability for deposit-type contracts			3,614.7						2,303.2
Total net annuity actuarial reserves and liability for deposit-type contracts			$	40,623.8					$	36,791.7

The following tables present the Company's life reserves by withdrawal characteristics, including those held in separate account liabilities:

			As of December 31, 2024
			General Account
			Account Value						Cash Value						Reserve
Subject to discretionary withdrawal, surrender values, or policy loans:
Term policies with cash value			$	—					$	2.9					$	8.0
Universal life			1,093.2						1,093.8						1,214.0
Universal life with secondary guarantees			1,169.9						969.6						2,783.3
Indexed universal life with secondary guarantees			1,809.0						1,332.8						1,408.7
Other permanent cash value life insurance			—						46.1						48.3
Variable universal life			56.0						56.0						60.6
Miscellaneous reserves			—						1.8						1.8
Not subject to discretionary withdrawal or no cash value:
Term policies without cash value			XXX						XXX						466.0
Accidental death benefits			XXX						XXX						0.2
Disability – active lives			XXX						XXX						0.7
Disability – disabled lives			XXX						XXX						47.5
Miscellaneous reserves			XXX						XXX						213.9
Total life insurance reserves			4,128.1						3,503.0						6,253.0
Less: reinsurance ceded			—						—						2,083.4
Total net life insurance reserves			$	4,128.1					$	3,503.0					$	4,169.6

			As of December 31, 2024
			Separate Account with Guarantees																		Separate Account Nonguaranteed
			Account Value						Cash Value						Reserve						Account Value						Cash Value						Reserve
Subject to discretionary withdrawal, surrender values, or policy loans:
Universal life			$	4,946.8					$	4,946.8					$	4,946.8					$	—					$	—					$	—
Variable universal life			—						—						—						673.8						663.3						663.3
Total life insurance reserves			$	4,946.8					$	4,946.8					$	4,946.8					$	673.8					$	663.3					$	663.3

    37

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

			As of December 31, 2023
			General Account
			Account Value						Cash Value						Reserve
Subject to discretionary withdrawal, surrender values, or policy loans:
Term policies with cash value			$	—					$	3.0					$	9.2
Universal life			1,105.6						1,086.6						1,223.6
Universal life with secondary guarantees			1,157.0						882.3						2,481.4
Indexed universal life with secondary guarantees			1,381.2						968.8						1,075.8
Other permanent cash value life insurance			—						49.1						51.5
Variable universal life			57.8						57.8						66.6
Miscellaneous reserves			—						2.4						2.4
Not subject to discretionary withdrawal or no cash value:
Term policies without cash value			XXX						XXX						433.8
Accidental death benefits			XXX						XXX						0.2
Disability – active lives			XXX						XXX						0.7
Disability – disabled lives			XXX						XXX						43.6
Miscellaneous reserves			XXX						XXX						221.8
Total life insurance reserves			3,701.6						3,050.0						5,610.6
Less: reinsurance ceded			—						—						1,841.4
Total net life insurance reserves			$	3,701.6					$	3,050.0					$	3,769.2

			As of December 31, 2023
			Separate Account with Guarantees																		Separate Account Nonguaranteed
			Account Value						Cash Value						Reserve						Account Value						Cash Value						Reserve
Subject to discretionary withdrawal, surrender values, or policy loans:
Universal life			$	4,919.3					$	4,919.3					$	4,919.3					$	—					$	—					$	—
Variable universal life			—						—						—						604.9						594.8						594.8
Total life insurance reserves			$	4,919.3					$	4,919.3					$	4,919.3					$	604.9					$	594.8					$	594.8

Total life insurance reserves were as follows:

			As of December 31,
			2024						2023
Life insurance reserves			$	4,004.1					$	3,614.0
Accidental death benefits reserves			0.2						0.2
Disability – active lives reserves			0.7						0.7
Disability – disabled lives reserves			45.4						41.0
Miscellaneous reserves			119.2						113.3
Separate account life insurance reserves			5,610.1						5,514.1
Total net life insurance reserves			$	9,779.7					$	9,283.3

As of December 31, 2024 and 2023, the Company had $8,756.6 and $8,871.8, respectively, of insurance in-force for which the gross premiums were less than the net premiums according to the standard valuation established by the Department. Related reserves of $209.0 and $216.9 as of December 31, 2024 and 2023, respectively, were included in life and annuity reserves.

    38

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

9. Liability for Unpaid Claims

The following table provides a reconciliation of the beginning and ending liability balances for unpaid claims, net of reinsurance recoverables:

			For the Year Ended December 31,
			2024						2023						2022
Balance, beginning of the year			$	710.2					$	633.2					$	599.5
Less: reinsurance recoverables			265.3						214.6						205.3
Net balance, beginning of the year			444.9						418.6						394.2
Add provision for claims, net of reinsurance, occurring in:
Current year			676.6						663.9						630.3
Prior years			(0.9)						2.5						(18.7)
Net incurred losses during the year			675.7						666.4						611.6
Deduct payments for claims, net of reinsurance, occurring in:
Current year			427.4						425.1						408.9
Prior years			212.1						208.5						178.3
Net claim payments during the current year			639.5						633.6						587.2
Valuation basis change and corrections			1.9						(6.5)						—
Net balance, end of year			483.0						444.9						418.6
Add: reinsurance recoverables			278.3						265.3						214.6
Balance, end of year			$	761.3					$	710.2					$	633.2

Liabilities for unpaid claims are recorded in policy and contract claims, life and annuity reserves, and accident and health reserves on the balance sheets. The Company uses estimates in determining its liability for unpaid claims. These estimates are primarily based on historical claim payment patterns and expected loss ratios to provide for the inherent variability in claim patterns and severity. For the year ended December 31, 2024, the change in prior year incurred claims was primarily due to favorable claims experience on Stop Loss policies issued in 2023, partially offset by unfavorable claims experience on life insurance policies issued in 2023.

10. Capital and Surplus

The NAIC establishes certain risk-based capital (RBC) requirements for U.S. life and health insurance companies. Under those requirements, the amount of capital and surplus to be maintained by a life and health insurance company is determined based on various risk factors. As of December 31, 2024 and 2023, the Company exceeded the minimum capital and surplus and RBC requirements.

Under Iowa law, the Company may pay dividends only from the earned surplus arising from its business and must receive the prior approval of the Department to pay stockholder dividends or make any other distribution if such distributions would exceed certain statutory limitations. Iowa law gives the Department discretion to disapprove requests for distributions in excess of these limits. Extraordinary dividends include those made within the preceding twelve months that exceed the greater of (i) 10% of statutory policyholder surplus as of the previous year-end or (ii) the statutory net gain from operations from the previous calendar year. Based on December 31, 2024 statutory results, the maximum dividend that may be paid without prior approval in 2025 is $238.3.

During 2024 and 2022, the Company did not pay any dividends to its Parent. During 2023, the Company paid $207.0 of dividends to its Parent.

The following table presents the cumulative increase (reduction) of unassigned funds related to the following items:

			As of December 31,
			2024						2023
Net unrealized gains (losses)			$	52.0					$	9.6
Nonadmitted assets			(290.9)						(267.3)
Separate accounts			301.6						244.3
Asset valuation reserve			(687.1)						(591.6)

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

11. Income Taxes

The components of DTAs and deferred tax liabilities (DTLs) are as follows:

			As of December 31, 2024																		As of December 31, 2023																		Change
			Ordinary						Capital						Total						Ordinary						Capital						Total						Ordinary						Capital						Total
Gross DTAs			$	525.0					$	10.8					$	535.8					$	435.4					$	11.3					$	446.7					$	89.6					$	(0.5)					$	89.1
DTAs nonadmitted			(181.1)						(4.3)						(185.4)						(177.8)						(6.8)						(184.6)						(3.3)						2.5						(0.8)
Subtotal admitted DTAs			343.9						6.5						350.4						257.6						4.5						262.1						86.3						2.0						88.3
Less: DTLs			119.8						29.4						149.2						93.9						15.3						109.2						25.9						14.1						40.0
Net admitted DTAs			$	224.1					$	(22.9)					$	201.2					$	163.7					$	(10.8)					$	152.9					$	60.4					$	(12.1)					$	48.3

The admission calculation components are as follows:

			As of December 31, 2024																		As of December 31, 2023																		Change
			Ordinary						Capital						Total						Ordinary						Capital						Total						Ordinary						Capital						Total
Federal income taxes paid in prior years recoverable through loss carrybacks			$	—					$	0.8					$	0.8					$	—					$	3.3					$	3.3					$	—					$	(2.5)					$	(2.5)
(1) Adjusted gross DTAs expected to be realized following the balance sheet date			224.9						—						224.9						164.7						—						164.7						60.2						—						60.2
(2) Adjusted gross DTAs allowed per limitation threshold			XXX						XXX						435.2						XXX						XXX						408.9						XXX						XXX						26.3
Adjusted gross DTAs expected to be realized after application of the limitation threshold (lesser of (1) and (2))			224.9						—						224.9						164.7						—						164.7						60.2						—						60.2
Adjusted gross DTAs offset by gross DTLs			119.0						5.7						124.7						92.9						1.2						94.1						26.1						4.5						30.6
DTAs admitted			$	343.9					$	6.5					$	350.4					$	257.6					$	4.5					$	262.1					$	86.3					$	2.0					$	88.3

As of December 31, 2024 and 2023, the ratio percentage used to determine the recovery period and limitation threshold amount was 748% and 724%, respectively. As of December 31, 2024 and 2023, the amount of adjusted capital and surplus used to determine the recovery period and limitation threshold amounts were $2,901.1 and $2,726.0, respectively. The results of this calculation component enable the Company to admit DTAs expected to reverse within three years, if not previously admitted as a carryback.

The admission calculations for 2024 and 2023 were not significantly impacted by tax-planning strategies. The Company had no unrecognized DTLs as of December 31, 2024 or 2023.

The components of current income tax expense (benefit) are as follows:

			For the Year Ended December 31,
			2024						2023						2022
Federal income tax expense (benefit)			$	81.6					$	96.7					$	59.8
Federal income tax expense (benefit) on net capital gains (losses)			8.4						(19.7)						9.6
Federal income tax expense (benefit) incurred			$	90.0					$	77.0					$	69.4

    40

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

The main components of deferred tax amounts are as follows:

			As of December 31,
			2024						2023						Change
DTAs
Ordinary:
Policyholder reserves			$	241.3					$	201.6					$	39.7
Investments			47.9						43.1						4.8
Deferred acquisition costs			173.2						148.0						25.2
Receivables - nonadmitted			22.2						17.4						4.8
Other			40.4						25.3						15.1
Total ordinary DTAs			525.0						435.4						89.6
Total ordinary DTAs – nonadmitted			(181.1)						(177.8)						(3.3)
Net admitted ordinary DTAs			343.9						257.6						86.3
Capital:
Investments			10.8						11.3						(0.5)
Nonadmitted			(4.3)						(6.8)						2.5
Net admitted capital DTAs			6.5						4.5						2.0
Net admitted DTAs			350.4						262.1						88.3
DTLs
Ordinary:
Policyholder reserves			81.4						60.9						20.5
Investments			28.1						22.1						6.0
Other			10.3						10.9						(0.6)
Total ordinary DTLs			119.8						93.9						25.9
Capital:
Investments			29.4						15.3						14.1
Total capital DTLs			29.4						15.3						14.1
Total DTLs			149.2						109.2						40.0
Net DTAs/DTLs			$	201.2					$	152.9					48.3
Net change in DTA/DTL															49.0
Surplus adjustments:
Tax effect of change in unrealized capital gains (losses)															5.3
Adjusted change in net deferred income taxes															$	54.3

The Company expects it will fully realize the DTAs and no statutory valuation allowance has been recorded as of December 31, 2024 or 2023.

    41

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Differences between the federal income tax provision and the change in deferred taxes computed by applying the U.S. federal income tax rate of 21% to the net gain (loss) from operations before federal income taxes and the realized capital losses and the actual tax provision are as follows:

			For the Year Ended December 31,
			2024						2023						2022
Ordinary income (loss) tax expense (benefit) at federal statutory rate			$	33.6					$	18.0					$	35.9
Capital income (loss) tax expense (benefit) at federal statutory rate			14.7						(3.9)						(20.2)
Total expected income tax expense (benefit)			48.3						14.1						15.7
Significant statutory to tax adjustments on taxes:
Tax credits			(3.4)						(4.1)						(8.0)
Change in valuation basis – statutory reserves			(4.8)						(1.9)						2.5
Change in liability for unauthorized reinsurance			(0.3)						14.9						(14.9)
Other			(4.1)						(7.3)						(14.0)
Total federal income tax expense (benefit)			$	35.7					$	15.7					$	(18.7)
Federal income tax expense (benefit)			$	90.0					$	77.0					$	69.4
Adjusted change in net deferred income taxes			(54.3)						(61.3)						(88.1)
Total statutory income tax expense (benefit)			$	35.7					$	15.7					$	(18.7)

As of December 31, 2024, the Company had no tax credit carryforward and no operating loss or capital loss carryforwards to offset against future taxable income.

The amount of federal income taxes incurred that are available for recovery in the event of the carryback of future net capital losses is immaterial.

The Company does not have any deposits admitted under Section 6603 of the Internal Revenue Code. The Company has no tax loss contingencies for which it is reasonably possible that the total liability will significantly increase within twelve months of December 31, 2024.

The Company is included as a member of a consolidated life/non-life federal income tax return under the Parent in the U.S. federal jurisdiction. Prior to 2022, the Company filed a federal income tax return only for its consolidated life group in the U.S. federal jurisdiction. The Company's state income tax filings and filing groups vary based on applicable rules in each state jurisdiction. The Company's federal and state income tax returns are generally open for examination for tax years 2021 through the present. In addition, certain other tax years remain open for examination due to loss carryback/carryforward provisions or amended returns, including life group returns for 2013 and 2018 through 2020.

The Inflation Reduction Act (Act) was enacted on August 16, 2022. The Act includes a new corporate alternative minimum tax (CAMT), which is effective for tax years beginning after 2022 and applies to corporations with average adjusted financial statement income in excess of certain thresholds as defined in the Act. The tax-controlled group of corporations of which the Company is a member has determined that it does not expect to be an applicable corporation that is subject to the CAMT in 2024.

    42

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

12. Separate Accounts

Separate account assets are attributed to the following products:

			As of December 31, 2024																		As of December 31, 2023
			Legally Insulated						Not Legally Insulated						Total						Legally Insulated						Not Legally Insulated						Total
BOLI (1)			$	4,946.8					$	198.5					$	5,145.3					$	4,919.3					$	195.2					$	5,114.5
RILA			348.3						3,062.7						3,411.0						187.1						1,790.7						1,977.8
Variable annuities			455.5						—						455.5						433.1						—						433.1
Variable COLI			471.1						—						471.1						431.2						—						431.2
Variable life and UL			202.8						—						202.8						173.7						—						173.7
Total			$	6,424.5					$	3,261.2					$	9,685.7					$	6,144.4					$	1,985.9					$	8,130.3
____________________

(1)The Company allows interest income above the required policy account values within the BOLI separate account. The amount accumulated over and above the required policy account values is not considered to be legally insulated.

The fair value of BOLI and RILA invested assets not reported at fair value and related net unrealized gains (losses) are as follows:

			As of December 31,
			2024												2023
			Fair Value						Net Unrealized Gains (Losses)						Fair Value						Net Unrealized Gains (Losses)
BOLI			$	4,363.8					$	(743.6)					$	4,466.8					$	(609.6)
RILA			2,526.9						(70.4)						1,550.2						(68.6)

In accordance with contract provisions relating to the Company’s separate account products, some separate account liabilities are guaranteed by the general account. As of December 31, 2024 and 2023, the separate accounts did not owe the Company for accrued fees or expenses.

The following table provides premium and reserve information for the separate accounts of the Company:

			Nonindexed Guaranteed Less Than/ Equal to 4%						Nonindexed Guaranteed More Than 4%						Nonguaranteed Separate Accounts						Total
Premiums, considerations, or deposits for the year ended December 31, 2024			$	—					$	—					$	1,143.0					$	1,143.0
Reserves as of December 31, 2024:
For accounts with assets at:
Fair value			$	—					$	—					$	1,790.8					$	1,790.8
Amortized cost			2,306.3						2,640.6						2,487.3						7,434.2
Total reserves			$	2,306.3					$	2,640.6					$	4,278.1					$	9,225.0
By withdrawal characteristics:
At book value without fair value adjustment and with current surrender charge of 5% or more			$	—					$	—					$	2,390.7					$	2,390.7
At fair value			—						—						1,790.8						1,790.8
At book value without fair value adjustment and with current surrender charge less than 5%			2,306.3						2,640.6						96.6						5,043.5
Total reserves			$	2,306.3					$	2,640.6					$	4,278.1					$	9,225.0

    43

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

			Nonindexed Guaranteed Less Than/ Equal to 4%						Nonindexed Guaranteed More Than 4%						Nonguaranteed Separate Accounts						Total
Premiums, considerations or deposits for the year ended December 31, 2023			$	—					$	—					$	415.3					$	415.3
Reserves as of December 31, 2023:
For accounts with assets at:
Fair value			$	—					$	—					$	1,320.5					$	1,320.5
Amortized cost			2,287.4						2,631.9						1,577.4						6,496.7
Total reserves			$	2,287.4		0			$	2,631.9		0			$	2,897.9					$	7,817.2
By withdrawal characteristics:
At book value without fair value adjustment and with current surrender charge of 5% or more			$	—					$	—					$	1,577.4					$	1,577.4
At fair value			—						—						1,320.5						1,320.5
At book value without fair value adjustment and with current surrender charge less than 5%			2,287.4						2,631.9						—						4,919.3
Total reserves			$	2,287.4					$	2,631.9					$	2,897.9					$	7,817.2

			Nonindexed Guaranteed Less Than/ Equal to 4%						Nonindexed Guaranteed More Than 4%						Nonguaranteed Separate Accounts						Total
Premiums, considerations or deposits for the year ended December 31, 2022			$	—					$	—					$	725.3					$	725.3

The following table provides a reconciliation of amounts transferred to and from the separate accounts as reported on the statements of operations:

			For the Year Ended December 31,
			2024						2023						2022
Transfers to separate accounts			$	1,367.8					$	572.8					$	1,015.2
Transfers from separate accounts			(495.1)						(435.6)						(467.1)
Net transfers to (from) separate accounts			872.7						137.2						548.1
Deposits in free look period and other timing differences			(0.7)						—						(0.9)
Net transfers to (from) separate accounts as reported on statements of operations			$	872.0					$	137.2					$	547.2

13. Related Parties

The following discussion relates to transactions entered into by the Company with related parties and affiliates. Refer to Note 7 for further discussion on reinsurance agreements and amounts payable or receivable with related parties or affiliates in connection with reinsurance agreements.

It is the Company's policy to settle amounts due with affiliated companies not less than quarterly, except for certain long-term compensation liabilities that are settled when the awards are paid and short-term intercompany borrowings. Balances with related parties recorded in the Company's financial statements were as follows:

			As of December 31,
			2024						2023
Balances with Parent and affiliates:
Receivables			$	5.5					$	1.7
Payables			(4.4)						(2.5)

The Company has entered into various agreements with the Parent and its affiliates for services necessary to conduct its activities. These agreements specify that the parties will provide to and receive from each other certain general services related to sharing common management, personnel, and facilities, and that the related expenses will be shared. These expenses

    44

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

include rent, corporate overhead, payroll, benefits, data processing systems, finance, information technologies, and other charges, and are included in general insurance expenses on the statements of operations. General service expenses are allocated among legal entities using methodologies that management believes to be reasonable to estimate service utilization, including headcount, time studies, or relevant activity levels.

The Company has an agreement with Symetra Investment Management Company (SIM), an affiliated registered investment advisor wholly-owned by the Parent, to provide investment advisory services related to the Company’s invested assets and with Symetra Investment Management Real Estate Investors (SIMREI), a subsidiary of SIM, to provide investment management services related to the Company's mortgage loan portfolio.

The Company also paid concessions, general agent fees, administrative, and underwriting fees for services provided by its affiliates, primarily to Symetra Securities, Inc.

During 2024 and 2023, the Company did not receive cash capital contributions from its Parent. During 2022, the Company received cash capital contributions of $125.0 from its Parent.

The Company has a short-term intercompany borrowing agreement with its Parent, under which the Company periodically loans money to its Parent. As of December 31, 2024 and 2023, the balance of the loan was $37.0 and $102.0, respectively.

During 2024 and 2023, the Company did not contribute cash to its subsidiaries. During 2022, the Company contributed $50.0 of cash capital to its subsidiary, First Symetra National Life Insurance Company of New York.

			For the Year Ended December 31,
			2024						2023						2022
Transactions with Parent and affiliates:
Payments for investment management and support services			$	63.2					$	56.6					$	51.9
Shared services expenses (allocated) payments, net (1)			(32.7)						(26.8)						(16.4)
Payments for concessions, general agent fees, administrative, and underwriting fees (2)			46.0						23.1						34.6
___________________

(1)Reported primarily in general insurance expenses on the statements of operations.

(2)Reported primarily in commissions on the statements of operations.

14. Commitments and Contingencies

Litigation

Because of the nature of its business, the Company is subject to legal actions filed or threatened in the ordinary course of its business operations. The Company establishes liabilities for legal loss contingencies when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. In such cases, any estimate is not an indication of expected loss, if any, and there still may be an exposure to loss more than any amounts reasonably estimated and accrued. As of December 31, 2024, we have accrued $32.5 for one such liability. It is not reasonably possible that this loss estimate will change in an amount that would be material to the financial statements. No balances were accrued as of December 31, 2023.

For matters where a loss is believed to be reasonably possible, but not probable, no liability is established. For such matters, the Company may provide an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made. The Company reviews relevant information with respect to litigation and regulatory matters on a quarterly basis and updates its established liabilities, disclosures, and estimates of reasonably possible losses or range of loss based on such reviews.

Although the Company cannot predict the outcome of any litigation or regulatory action, the Company does not believe that any such matters will have an impact on its financial condition or results of operations that differs materially from the Company’s established liabilities. However, given the inherent difficulty in predicting the outcome of such matters, it is possible that an adverse outcome in certain such matters could be material to the Company’s financial condition or results of operations for any particular reporting period.

    45

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SYMETRA LIFE INSURANCE COMPANY

NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS

(All dollar amounts in millions unless otherwise stated)

Other Commitments

The following table presents the Company's significant commitments not recognized on the balance sheets:

			As of December 31, 2024						As of December 31, 2023
Unfunded Commitments to partnership investments and related structured securities			313.1						$	140.6
Unfunded mortgage loan commitments, approved not yet funded			144.2						102.5
Unfunded private placement commitments, purchased, not yet funded			142.0						29.0

The Company had no other material commitments or contingencies as of December 31, 2024 or 2023.

    46

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Supplementary Information

    47

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Independent Auditors' Report

The Board of Directors and Stockholder

Symetra Life Insurance Company:

We have audited the financial statements prepared in accordance with statutory accounting practices prescribed or permitted by the Insurance Division, Department of Commerce of the State of Iowa of Symetra Life Insurance Company as of and for the year ended December 31, 2020, and have issued our report thereon dated March 25, 2021, which contained an adverse opinion on the basis of U.S. generally accepted accounting principles and an unmodified opinion on the statutory basis of accounting described in note 2 to those financial statements. Our audit was performed for the purpose of forming an opinion on the financial statements as a whole. The supplementary information included in the Selected Financial Data-Statutory Basis, Investment Risks Interrogatories-Statutory Basis, Summary Investment Schedule-Statutory Basis, and Reinsurance Risk Interrogatories-Statutory Basis is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Insurance Division, Department of Commerce of the State of Iowa. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole as of and for the year ended December 31, 2023.

Seattle, Washington

March 25, 2022

    48

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Symetra Life Insurance Company

Selected Financial Data – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

Investment income earned:
U.S. government bonds			$	17.2
Bonds exempt from U.S. tax			—
Other bonds (unaffiliated)			1,672.7
Bonds of affiliates			0.1
Preferred stocks (unaffiliated)			6.1
Preferred stocks of affiliates			—
Common stocks (unaffiliated)			23.5
Common stocks of affiliates			—
Mortgage loans			422.5
Real estate			—
Contract loans			5.9
Cash, cash equivalents and short-term investments			112.8
Surplus Notes			—
Derivative instruments			26.0
Other invested assets			27.7
Aggregate write-ins for investment income			—
Gross investment income			2,314.5
Real estate owned – book value, less encumbrances			$	—
Mortgage loans – book value:
Farm mortgages			$	—
Residential mortgages			24.1
Commercial mortgages			8,876.5
Total mortgage loans			$	8,900.6
Mortgage loans by standing – book value:
Good standing			$	8,899.2
Good standing with restructured terms			—
Interest overdue more than 90 days, not in foreclosure			1.4
Foreclosure in process			—
Total mortgage loans			$	8,900.6
Other long-term invested assets – statement value			$	711.0
Collateral loans			$	—
Bonds and stocks of Parent, subsidiaries, and affiliates – book value:
Bonds			$	—
Preferred stocks			—
Common stocks			218.0
Total bonds and stocks of Parent, subsidiaries, and affiliates – book value			$	218.0

    49

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Symetra Life Insurance Company

Selected Financial Data – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

Bonds and short-term investments by NAIC designation and maturity:
Bonds by maturity – statement value:
Due within one year or less			$	3,802.4
Over 1 year through 5 years			14,279.1
Over 5 years through 10 years			8,932.4
Over 10 years through 20 years			3,263.8
Over 20 years			3,726.3
Total by maturity			$	34,004.0
Bonds by NAIC designation – statement value:
NAIC 1			$	19,004.0
NAIC 2			13,220.9
NAIC 3			854.5
NAIC 4			847.1
NAIC 5			72.2
NAIC 6			5.3
Total by NAIC designation			$	34,004.0
Total bonds publicly traded			$	14,745.3
Total bonds privately placed			19,057.7
Preferred stocks – statement value			$	110.7
Common stocks – market value			807.5
Short-term investments – book value			41.6
Options, caps, and floors owned – statement value			$	332.0
Options, caps, and floors written and in-force – statement value			(22.9)
Collar, swap, and forward agreements open – statement value			59.4
Warrants owned – statement value			—
Futures contracts open – current value			10.4
Cash on deposit			$	1,350.8
Life insurance in-force:
Industrial			$	—
Ordinary			31,029.7
Credit life			—
Group life			91,874.7
Amount of accidental death insurance in-force under ordinary policies			$	77.3
Life insurance policies with disability provisions in force:
Industrial			$	—
Ordinary			0.6
Credit life			—
Group life			78,174.3

    50

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Symetra Life Insurance Company

Selected Financial Data – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

Supplementary contracts in-force:
Ordinary – not involving life contingencies:
Amount on deposit			$	18.4
Income payable			—
Ordinary – involving life contingencies:
Amount on deposit			$	—
Income payable			—
Group – not involving life contingencies:
Amount of deposit			$	—
Income payable			—
Group – involving life contingencies:
Income payable			$	—
Annuities:
Ordinary:
Immediate – amount of income payable			$	523.1
Deferred – fully paid – account balance			31,468.5
Deferred – not fully paid – account balance			802.2
Group:
Amount of income payable			$	7.4
Fully paid – account balance			24.0
Not fully paid – account balance			581.1
Accident and health insurance – premiums in-force:
Ordinary			$	0.2
Group			1,404.0
Credit			—
Deposit funds and dividend accumulations:
Deposit funds – account balance			$	22.4
Dividend accumulations – account balance			0.2
Claim payments 2024:
Group accident and health:
2024			$	190.4
2023			88.4
2022			11.3
2021 and prior			28.2
Other accident and health:
2024			$	—
2023			—
2022			—
2021 and prior			0.1
Other coverages that use developmental methods to calculate claims reserves:
2024			$	—
2023			—
2022			—
2021 and prior			—

See accompanying independent auditors' report.

    51

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Symetra Life Insurance Company

Investment Risks Interrogatories – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

1.The Company’s total admitted assets, excluding separate accounts business, as reported on page 3 of its Annual Statement are $47,550.8.

2.Following are the 10 largest exposures to a single issuer/borrower/investment, by investment category, excluding: (i) U.S. government, U.S. government agency securities, and those U.S. government money market funds listed in the Appendix to the SVO Practices and Procedures Manual as exempt, (ii) property occupied by the Company, (iii) policy loans, and (iv) all SEC and foreign funds (open-end, close-end, UIT and ETFs) and common trust funds that are diversified within the meaning of the Investment Company Act of 1940 [Section 5(b) (1)]:

Issuer

Description of Exposure

Amount

Percentage of Total Admitted Assets

a.

Monroe Capital MML

Bonds

$

400.7

0.8%

b.

KKR Credit LP

LLP / Bonds

348.0

0.7

c.

Golub Capital Partners

Bonds

314.8

0.7

d.

Ares L Ltd.

Bonds

268.1

0.6

e.

Sound Point Ltd.

Bonds

252.0

0.5

f.

Antares Ltd

Bonds

246.5

0.5

g.

Pennant Park LLC

Bonds

246.0

0.5

h.

Audax LLC

Bonds

245.8

0.5

i.

Fortress Credit BSL Limited

Bonds

239.6

0.5

j.

Ivy Hill Middle Mark Credit Fund Ltd.

Bonds

232.0

0.5

3.The Company’s total admitted assets held in bonds including short-term investments, and preferred stocks, by NAIC rating, are:

Bonds/Short-term Investments												Preferred Stocks
NAIC Rating			Amount			Percentage of Total Admitted Assets						NAIC Rating			Amount			Percentage of Total Admitted Assets
NAIC-1			$	19,004.0		40.0		%				P/RP-1			$	12.2		—		%
NAIC-2			13,220.9			27.8						P/RP-2			86.5			0.2
NAIC-3			854.5			1.8						P/RP-3			12.0			—
NAIC-4			847.1			1.8						P/RP-4			—			—
NAIC-5			72.2			0.2						P/RP-5			—			—
NAIC-6			5.3			—						P/RP-6			—			—

4.The Company’s total admitted assets held in foreign investments (regardless of whether there is any foreign currency exposure) and unhedged foreign currency exposure was $5,929.8, or 12.7% of total admitted assets as of December 31, 2024, which (i) the aggregate amount of foreign investments as determined by the rules or statutes of the state of domicile (regardless of whether there is any foreign currency exposure) of $4,675.2 or 9.8% of total admitted assets as of December 31, 2024, and (ii) included foreign currency-denominated investments of $0.0 supporting insurance liabilities denominated in that same foreign currency of $0.0.

5.Aggregate foreign investment exposure categorized by NAIC sovereign rating:

			Amount			Percentage of Total Admitted Assets
i. Countries rated NAIC-1			$	4,416.7		9.3		%
ii. Countries rated NAIC-2			216.8			0.5
iii. Countries rated NAIC-3 or below			41.7			0.1

    52

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Symetra Life Insurance Company

Investment Risks Interrogatories – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

6.The two countries in which the Company has its largest aggregate foreign investment exposures (regardless of currency exposures), categorized by the country’s NAIC sovereign rating:

			Amount			Percentage of Total Admitted Assets
i. Countries rated NAIC-1:
United Kingdom			$	923.6		1.9		%
Cayman Islands			631.3			1.3
ii. Countries rated NAIC-2:
Mexico			$	177.9		0.4		%
Italy			19.0			—
iii. Countries rated NAIC-3 or below:
Morocco			$	19.7		—		%
Bahamas			15.0			—

7. - 9. The Company had $0 aggregate unhedged foreign currency exposure as of December 31, 2024.

10.The 10 largest nonsovereign (i.e., nongovernmental) foreign issuers:

Issuer

NAIC Rating

Amount

Percentage of Total Admitted Assets

a.

CSL Limited

1.G FE

$

132.1

0.3

%

b.

AerCap Holdings N.V.

2.A FE

124.8

0.3

c.

BNP Paribas SA

1.G FE

112.2

0.2

d.

UBS Group AG

1.G FE

111.8

0.2

e.

AstraZeneca PLC

1.F FE

96.3

0.2

f.

NXP Semiconductors N.V.

2.A FE

78.7

0.2

g.

Groupe BPCE

1.E FE

74.7

0.2

h.

Siemens Aktiengesellschaft

1.D FE

71.3

0.1

i.

Takeda Pharmaceutical Company Limited

2.A FE

69.4

0.1

j.

BAE Systems PLC

2.A FE

67.8

0.1

11.The Company’s total admitted assets held in Canadian investments and unhedged Canadian currency exposure are:

						Amount			Percentage of Total Admitted Assets
a.			Canadian investments			$	1,254.6		2.6		%
b.			Canadian currency-denominated investments			—			—
c.			Canadian-denominated insurance liabilities			—			—
d.			Unhedged Canadian currency exposure			—			—

12.The Company held no investments with contractual sales restrictions.

    53

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Symetra Life Insurance Company

Investment Risks Interrogatories – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

13.The Company's admitted assets held in the largest 10 equity interests (including investments in the shares of mutual funds, preferred stocks, publicly traded equity securities, and other equity securities that includes partnerships and limited liability companies and any other investments reported in Schedule BA), and excluding money market and bond mutual funds listed in the Appendix to the SVO Practices and Procedures Manual as exempt or NAIC 1 are:

			Description			Preferred Stock			Common Stock			Other Invested Assets			Total			Percentage of Total Admitted Assets
a.			KKR			$	—		$	—		$	334.3		$	334.3		0.7		%
b.			Vanguard TSM			—			224.9			—			224.9			0.5
c.			First Symetra National Life Ins Co of NY			—			210.5			—			210.5			0.4
d.			Federal Home Loan Bank of Des Moines			—			166.9			—			166.9			0.4
e.			US Bancorp			47.5			—			—			47.5			0.1
f.			Symetra Reinsurance Corporation			—			43.3			—			43.3			0.1
g.			AMP Capital Global Infrastructure			—			—			21.0			21.0			—
h.			ASP-SEG Co-Investment Aggregator			—			—			19.6			19.6			—
i.			MML Partnership Capital			—			—			18.5			18.5			—
j.			Arctos Sports Partners			—			—			17.8			17.8			—

14.The Company had less than 2.5% of admitted assets held in unaffiliated, privately placed equities (included in other equity securities) and excluding securities eligible for sale under: (i) Securities and Exchange Commission (SEC) Rule 144a, or (ii) SEC Rule 144 without volume restrictions.

a.The largest fund managers are:

			Fund Manager			Total Invested			Diversified			Nondiversified
a.			KKR			$	334.3		$	334.3		$	—
b.			The Vanguard Group, Inc.			224.9			224.9			—
c.			State Street Corporation			168.3			168.3			—
d.			PNC Bank			26.5			26.5			—
e.			US BANK NA			26.4			26.4			—
f.			MML Various Investment Funds			22.1			22.1			—
g.			AMP			21.0			21.0			—
h.			ASP-SEG Co-Investment Aggregator, L.P.			19.6			19.6			—

15.The Company held no general partnership interests.

16.With respect to mortgage loans reported in Schedule B of the Annual Statement:

a.The Company held $8,900.6 in mortgage loans, which represent 18.7% of total admitted assets.

    54

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Symetra Life Insurance Company

Investment Risks Interrogatories – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

b.The 10 largest aggregate mortgage interests are (the aggregate mortgage interest represents the combined value of all mortgages secured by the same property or same group of properties):

Type

Property

Amount

Percentage of Total Admitted Assets

a.

Commercial

Namdar

$

148.1

0.3

%

b.

Commercial

Monomoy

129.0

0.3

c.

Commercial

Fidelis/CalSTRS

74.9

0.2

d.

Commercial

Edward St. John LLC

51.8

0.1

e.

Commercial

Oehl

50.6

0.1

f.

Commercial

Alco Invest. Co

40.4

0.1

g.

Commercial

ULM II Holding Corp

39.1

0.1

h.

Commercial

Benenson

38.0

0.1

i.

Commercial

Duke

37.1

0.1

j.

Commercial

Krausz Puente LLC

36.9

0.1

c.     Amount and percentage of the Company's total admitted assets held in the following categories of mortgage loans:

						Amount			Percentage of Total Admitted Assets
a.			Construction loans			$	—		—		%
b.			Mortgage loans over 90 days past due			1.4			—
c.			Mortgage loans in the process of foreclosure			—			—
d.			Mortgage loans foreclosed			—			—
e.			Restructured mortgage loans			—			—

17.Aggregate commercial mortgage loans having the following loan-to-value ratios, as determined from the most current appraisal as of the annual statement date:

			Loan-to-Value			Amount			Percentage of Total Admitted Assets
a.			above 95%			$	3.4		—		%
b.			91% to 95%			9.8			—
c.			81% to 90%			34.6			0.1
d.			71% to 80%			336.5			0.7
e.			below 70%			8,493.1			17.9
						$	8,877.3		18.7		%

a.The Company had less than 2.5% of admitted assets held in residential mortgage loans and held no investments in agricultural mortgage loans.

18.The Company had no investments in real estate.

19.The Company had no investments held in mezzanine real estate loans.

20.The Company had no admitted asset subject to securities lending, repurchase agreements, reverse repurchase agreements, dollar repurchase agreements, or dollar reverse repurchase agreements.

21.The Company had $332.0 of options and caps and floors owned, $22.9 in options and caps and floors written, and $0.0 in warrants not attached to other financial instruments. Each type represent 0.7%, 0.0%, and 0.0% of total admitted assets, respectively.

22.The Company had potential exposure (defined as the amount determined in accordance with the NAIC Annual Statement Instructions) for collars, swaps, and forwards of $44.5 as of the end of the first quarter, $44.9 as of the end of the second quarter, $47.2 as of the end of the third quarter, and $50.4, or 0.1% of total admitted assets as of the end of the fourth quarter during the fiscal year ended.

23.The Company had potential exposure (defined as the amount determined in accordance with the NAIC Annual Statement Instructions) to futures contracts of $1.1 as of the end of the first quarter, $0.5 as of the end of the second quarter, $1.3 as of

    55

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Symetra Life Insurance Company

Investment Risks Interrogatories – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

the end of the third quarter, and $2.0, or 0.0% of total admitted assets as of the end of the fourth quarter during the fiscal year ended.

See accompanying independent auditors' report.

    56

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Symetra Life Insurance Company

Reinsurance Risks Interrogatories – Statutory Basis

December 31, 2024

(All amounts in millions unless otherwise stated)

The following information regarding reinsurance contracts is presented to satisfy the disclosure requirements in SSAP No. 61, Life, Deposit-Type and Accident and Health Reinsurance, which apply to reinsurance contracts entered into, renewed or amended on or after January 1, 1996.

1. The Company does not reinsure any risk with any other entity under a reinsurance contract (or multiple contracts with the same reinsurer or its affiliates) that is subject to Appendix A-791, Life and Health Reinsurance Agreements, and includes a provision that limits the reinsurer's assumption of significant risk identified in Appendix A-791.

2. The Company does not reinsure any risk with any other entity under a reinsurance contract (or multiple contracts with the same reinsurer or its affiliates) that is not subject to Appendix A-791, for which reinsurance accounting was applied and includes a provision that limits the reinsurer's assumption of risk.

3. The Company does not have any reinsurance contracts (other than reinsurance contracts with a federal or state facility) that contain one or more of the following features which may result in delay payment in form or in fact:

a.Provisions that permit the reporting of losses to be made less frequently than quarterly;

b.Provisions that permit settlements to be made less frequently than quarterly;

c.Provisions that permit payments due from the reinsurer to not be made in cash within ninety (90) days of the settlement date (unless there is no activity during the period); or

d.The existence of payment schedules, accumulating retentions from multiple years, or any features inherently designed to delay timing of the reimbursement to the ceding entity.

4. The Company has not recognized any reinsurance accounting credit for any contracts below that are not subject to Appendix A-791 and not yearly renewable term reinsurance, which meet the risk transfer requirements of SSAP No. 61.

a.Assumption reinsurance – new for the reporting period.

5. The Company has not ceded any risk that is not subject to Appendix A-791 and not yearly renewable term reinsurance, under any reinsurance contract (or multiple contracts with the same reinsurer or its affiliates) during the period covered by the financial statements, and has not:

a.Accounted for that contract as reinsurance under statutory accounting principle (SAP) and as a deposit under generally accepted accounting principles (GAAP); or

b.accounted for that contract as reinsurance under GAAP and as a deposit under SAP.

See accompanying independent auditors' report.

    57

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Symetra Life Insurance Company

Summary Investment Schedule – Statutory Basis

December 31, 2024
(All amounts in millions unless otherwise stated)

			Gross Investment Holdings*						Admitted Assets as Reported in the Annual Statement
Investment Categories			Amount			Percentage of Total Invested Assets			Amount			Percentage of Total Invested Assets
Long-term bonds:
U.S. governments			$	498.0		1.1		%	$	498.0		1.1		%
All other governments			58.7			0.1			58.7			0.1
U.S. states, territories and possessions, etc. guaranteed			3.1			—			3.1			—
U.S. political subdivisions of states, territories, and possessions, guaranteed			45.8			0.1			45.8			0.1
U.S. special revenue and special assessment obligations, etc. non-guaranteed			664.2			1.4			664.2			1.4
Industrial and miscellaneous			31,367.2			67.1			31,367.2			67.1
Hybrid securities			395.1			0.8			395.1			0.8
Parent, subsidiaries and affiliates			—			—			—			—
SVO identified funds			168.3			0.4			168.3			0.4
Unaffiliated bank loans			602.7			1.3			602.7			1.3
Total long-term bonds			33,803.1			72.3			33,803.1			72.3
Preferred stocks:
Industrial and miscellaneous (Unaffiliated)			110.7			0.2			110.7			0.2
Parent, subsidiaries and affiliates			—			—			—			—
Total preferred stocks			110.7			0.2			110.7			0.2
Common stocks:
Industrial and miscellaneous Publicly traded (Unaffiliated)			149.2			0.3			149.2			0.3
Industrial and miscellaneous Other (Unaffiliated)			166.9			0.4			166.9			0.4
Parent, subsidiaries and affiliates Publicly traded			—			—			—			—
Parent, subsidiaries and affiliates Other			266.5			0.6			266.5			0.6
Mutual funds			—			—			—			—
Unit investment trusts			—			—			—			—
Closed-end funds			—			—			—			—
Exchange traded funds			224.9			0.5			224.9			0.5
Total common stocks			807.5			1.7			807.5			1.7
Mortgage loans:
Farm mortgages			—			—			—			—
Residential mortgages			24.1			0.1			24.1			0.1
Commercial mortgages			8,876.5			19.0			8,876.5			19.0
Mezzanine real estate loans			—			—			—			—
Total mortgage loans			8,900.6			19.1			8,900.6			19.1
Real estate:
Properties occupied by company			—			—			—			—
Properties held for production of income			—			—			—			—
Properties held for sale			—			—			—			—
Total real estate			—			—			—			—

*See note on next page.

    58

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Symetra Life Insurance Company

Summary Investment Schedule – Statutory Basis

December 31, 2024
(All amounts in millions unless otherwise stated)

			Gross Investment Holdings*						Admitted Assets as Reported in the Annual Statement
Investment Categories			Amount			Percentage of Total Invested Assets			Amount			Percentage of Total Invested Assets
Cash, cash equivalents, and short-term investments:
Cash			1,350.8			2.9			1,350.8			2.9
Cash equivalents			249.2			0.5			249.2			0.5
Short-term investments			41.6			0.1			41.6			0.1
Total cash, cash equivalents, and short-term investments			1,641.6			3.5			1,641.6			3.5
Contract loans			173.5			0.4			173.5			0.4
Derivatives			405.0			0.9			405.0			0.9
Other invested assets			711.1			1.5			711.1			1.5
Receivables for securities			224.1			0.5			215.9			0.5
Securities lending			—			—			—			—
Total invested assets			$	46,777.1		100.0		%	$	46,768.9		100.0		%

*Gross investment holdings as valued in compliance with the NAIC Accounting Practices and Procedures Manual.

See accompanying independent auditors' report.

    59

 

Annual Report

December 31, 2024

Symetra Separate Account C

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TABLE OF CONTENTS

			Page
Report of Independent Registered Public Accounting Firm			1
Statements of Assets and Liabilities			7
Current Year Statements of Operations and Changes in Net Assets			11
Prior Year Statements of Operations and Changes in Net Assets			19
Notes to Financial Statements:
Note 1. Organization			27
Note 2. Significant Accounting Policies			31
Note 3. Expenses and Related Party Transactions			31
Note 4. Investment Transactions			32
Note 5. Changes in Accumulation Units Outstanding			34
Note 6. Accumulation Unit Values			38
Note 7. Subsequent Events			53

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Symetra Separate Account C
Report of Independent Registered Public Accounting Firm

To the Board of Directors of Symetra Life Insurance Company and the Contract Owners of Symetra Separate Account C:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of the sub-accounts listed in the Appendix that compromise Symetra Separate Account C (the Separate Account), as of December 31, 2024, the related statements of operations and changes in net assets for each of the years in the two‑year period then ended, and the related notes (collectively, the financial statements) and the accumulation unit values in Note 6 (the financial highlights) for each of the years in the five‑year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Separate Account as of December 31, 2024, the results of its operations and changes in net assets for each of the years in the two‑year period then ended, and the financial highlights for each of the years in the five‑year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights 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 the Separate Account 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 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 and financial highlights 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 and financial highlights, 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 and financial highlights. Such procedures also included confirmation of securities owned as of December 31, 2024, by correspondence with fund companies or their transfer agents; when replies were not received, we performed other auditing procedures. 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 and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of the Separate Account since 2020.

Seattle, Washington

April 23, 2025

1

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Symetra Separate Account C
Report of Independent Registered Public Accounting Firm (Continued)

Appendix

BlackRock Advantage Large Cap Value V.I. Fund (Note 1)

BNY Mellon Appreciation

BNY Mellon MidCap Stock

BNY Mellon Stock Index

BNY Mellon Sustainable U.S. Equity

BNY Mellon Technology Growth

Calvert SRI Balanced

Columbia VP Select Mid Cap Value Fund – Class 1 (Note 1)

CVT EAFE International Index Class F (Note 2)

CVT Investment Grade Bond Index Class I (Note 2)

CVT Nasdaq-100 Index Class I (Note 2)

CVT Russell 2000 Small Cap Index Class F (Note 2)

CVT S&P MidCap 400 Index Class F (Note 2)

DWS Capital Growth VIP B (Note 1)

DWS CROCI International VIP – Class A

DWS Global Income Builder VIP A

DWS Global Small Cap VIP B (Note 1)

DWS International Growth VIP B Share (Note 1)

DWS Small Cap Index A Share

Federated Hermes High Income Bond

Federated Hermes Managed Volatility II

Fidelity Asset Manager

Fidelity Contrafund

Fidelity Contrafund II (Note 1)

Fidelity Equity-Income

Fidelity Freedom Funds 2010 II

Fidelity Freedom Funds 2015 II

2

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Symetra Separate Account C
Report of Independent Registered Public Accounting Firm (Continued)

Fidelity Freedom Funds 2020 II

Fidelity Freedom Funds 2025 II

Fidelity Freedom Funds 2030 II

Fidelity Freedom Funds 2050 II

Fidelity Freedom Income Fund II

Fidelity Government Money Market Portfolio – Initial Class

Fidelity Government Money Market Portfolio – Service Class II

Fidelity Growth

Fidelity Growth & Income

Fidelity Growth Opportunities

Fidelity Index 500

Fidelity Mid Cap II

Fidelity Overseas II

Franklin Allocation VIP Fund – Class 2

Franklin DynaTech VIP Fund - Class 2

Franklin Income VIP Fund – Class 2

Franklin Mutual Shares VIP Fund – Class 2

Franklin Small Cap Value VIP Fund – Class 2

Franklin Small-Mid Cap Growth VIP Fund – Class 2

Franklin U.S. Government Securities VIP Fund – Class 2

Invesco American Franchise Fund I

Invesco American Franchise Fund II

Invesco Discovery Mid Cap Growth Fund I (Note 1)

Invesco Discovery Mid Cap Growth Fund II (Note 1)

Invesco EQV International Equity I

Invesco EQV International Equity II

Invesco Global Real Estate

Invesco Health Care

Invesco Small Cap Equity II

3

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Symetra Separate Account C
Report of Independent Registered Public Accounting Firm (Continued)

LVIP American Century Balanced Fund Standard Class II (Note 2)

LVIP American Century Inflation Protection Fund Service (Note 2)

LVIP American Century International Fund Standard Class II (Note 2)

LVIP American Century Large Company Value Fund Service (Note 2)

LVIP American Century Ultra Fund Service Class (Note 2)

LVIP American Century Ultra Fund Standard Class II (Note 2)

LVIP American Century Value Fund Standard Class II (Note 2)

LVIP JPMorgan Mid Cap Value Fund - Standard Class

LVIP JPMorgan U.S. Equity Fund - Standard Class

Morningstar Aggressive Growth ETF Asset Allocation Class I

Morningstar Aggressive Growth ETF Asset Allocation Class II

Morningstar Balanced ETF Asset Allocation Class I

Morningstar Balanced ETF Asset Allocation Class II

Morningstar Conservative ETF Asset Allocation Class I

Morningstar Conservative ETF Asset Allocation Class II

Morningstar Growth ETF Asset Allocation Class I

Morningstar Growth ETF Asset Allocation Class II

Morningstar Income & Growth ETF Asset Allocation Class I

Morningstar Income & Growth ETF Asset Allocation Class II

Neuberger Berman AMT Mid Cap Growth Class S

Neuberger Berman AMT Mid Cap Intrinsic Value Class S

Neuberger Berman AMT Sustainable Equity Class S

PIMCO All Asset Portfolio Advisor

PIMCO CommodityRealReturn Strat. Administrative Class

PIMCO Total Return Portfolio Advisor

Pioneer Bond VCT Class I

Pioneer Equity Income VCT Class II

Pioneer Fund VCT Class I

4

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Symetra Separate Account C
Report of Independent Registered Public Accounting Firm (Continued)

Pioneer High Yield VCT Class II

Pioneer Mid Cap Value VCT Class I

Pioneer Select Mid Cap Growth VCT Class I

Pioneer Strategic Income VCT Class II

Templeton Developing Markets VIP Fund – Class 2

Templeton Global Bond VIP Fund – Class 2

Templeton Growth VIP Fund – Class 2

Vanguard Balanced

Vanguard High Yield Bond

Vanguard International

Vanguard Mid-Cap Index

Vanguard Real Estate Index

Vanguard Total Bond Market Index

Vanguard Total Stock Market Index

Voya Global High Dividend Low Volatility Portfolio – Class S

VY JPMorgan Emerging Markets Equity Portfolio Initial

Wanger Acorn

5

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Symetra Separate Account C
Report of Independent Registered Public Accounting Firm (Continued)

Note 1: The following sub-accounts had varying audited periods defined in the table below:

Subaccount			Statements of Assets and Liabilities			Statements of Operations and Changes in Net Assets			Financial Highlights
BlackRock Advantage Large Cap Value V.I. Fund			Not presented - no net assets at December 31, 2024			Not presented – no operations or changes in net assets for the years ended December 31, 2024 and 2023			Not presented- no units outstanding, net assets, investment income, expenses, or total returns for the period from January 1, 2020 through December 31, 2024
Columbia VP Select Mid Cap Value Fund – Class 1			Not presented - no net assets at December 31, 2024			No difference			No difference
DWS Capital Growth VIP B			Not presented - no net assets at December 31, 2024			For the period January 1, 2024 through June 17, 2024 (No changes for the year ended 2023)			For the period January 1, 2020 through June 17, 2024
DWS Global Small Cap VIP B			Not presented - no net assets at December 31, 2024			For the period January 1, 2024 through June 17, 2024 (No changes for the year ended 2023)			For the period January 1, 2020 through June 17, 2024
DWS International Growth VIP B Share			Not presented - no net assets at December 31, 2024			For the period January 1, 2024 through June 17, 2024 (No changes for the year ended 2023)			For the period January 1, 2020 through June 17, 2024
Fidelity Contrafund II			Not presented - no net assets at December 31, 2024			No difference			No difference
Invesco Discovery Mid Cap Growth Fund I			No difference			No difference			For the period April 30, 2020 through December 31, 2024
Invesco Discovery Mid Cap Growth Fund II			No difference			No difference			For the period April 30, 2020 through December 31, 2024

Note 2: See Note 1 of the financial statements for the former name of the sub-account

6

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Symetra Separate Account C
Statements of Assets and Liabilities
As of December 31, 2024

Sub-Account			Number of Shares Owned			Investments at Cost			Investments at Fair Value			Net Assets			Accumulation Units Outstanding
BNY Mellon Appreciation			93,152			$	3,382,771		$	3,399,128		$	3,399,128		82,699
BNY Mellon MidCap Stock			263,420			4,850,420			5,421,189			5,421,189			130,095
BNY Mellon Stock Index			125,071			6,903,765			10,004,435			10,004,435			154,729
BNY Mellon Sustainable U.S. Equity1			44,915			1,682,534			2,493,209			2,493,209			85,615
BNY Mellon Technology Growth			89,107			2,201,858			3,138,349			3,138,349			119,801
Calvert SRI Balanced			130,352			295,445			357,161			357,161			12,812
CVT EAFE International Index Class F1			3,557			320,121			337,449			337,449			29,495
CVT Investment Grade Bond Index Class I1			41,646			2,208,920			1,981,122			1,981,122			165,304
CVT Nasdaq-100 Index Class I1			19,456			1,922,330			3,255,655			3,255,655			34,836
CVT Russell 2000 Small Cap Index Class F1			9,099			708,633			770,891			770,891			27,822
CVT S&P MidCap 400 Index Class F1			5,441			592,641			695,929			695,929			20,335
DWS CROCI International VIP - Class A			136,367			912,403			1,009,119			1,009,119			49,148
DWS Global Income Builder VIP A			216,879			4,909,372			5,129,192			5,129,192			122,280
DWS Small Cap Index A Share			11,094			181,214			161,095			161,095			5,292
Federated Hermes High Income Bond			135,813			797,779			771,422			771,422			22,469
Federated Hermes Managed Volatility II			39,172			376,338			399,163			399,163			11,351
Fidelity Asset Manager			4,898			73,198			80,564			80,564			2,902
Fidelity Contrafund			530,709			21,586,559			30,749,182			30,749,182			341,250
Fidelity Equity-Income			142,882			3,354,416			3,799,268			3,799,268			82,016
Fidelity Freedom Funds 2010 II			41,169			554,881			468,916			468,916			27,530
Fidelity Freedom Funds 2015 II			8,478			115,560			96,558			96,558			5,294
Fidelity Freedom Funds 2020 II			30,455			424,529			383,433			383,433			19,993
Fidelity Freedom Funds 2025 II			53,646			773,903			850,287			850,287			40,690
Fidelity Freedom Funds 2030 II			100,902			1,507,238			1,641,675			1,641,675			74,954
Fidelity Freedom Funds 2050 II			1,286			22,910			31,969			31,969			952
Fidelity Freedom Income Fund II			8,720			100,025			95,741			95,741			6,856
Fidelity Government Money Market Portfolio - Initial Class			79,329			79,329			79,329			79,329			7,920
Fidelity Government Money Market Portfolio - Service Class II			6,069,759			6,069,759			6,069,759			6,069,759			596,827
Fidelity Growth			173,999			14,620,928			16,867,459			16,867,459			354,882
Fidelity Growth & Income			169,809			3,719,340			5,187,634			5,187,634			122,296
Fidelity Growth Opportunities			60,626			2,830,587			5,031,880			5,031,880			69,306

SEE NOTES TO FINANCIAL STATEMENTS

7

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Symetra Separate Account C
Statements of Assets and Liabilities (continued)
As of December 31, 2024

Sub-Account			Number of Shares Owned			Investments at Cost			Investments at Fair Value			Net Assets			Accumulation Units Outstanding
Fidelity Index 500			2,518			$	994,111		$	1,434,520		$	1,434,520		33,401
Fidelity Mid Cap II			97,420			3,357,599			3,456,486			3,456,486			76,097
Fidelity Overseas II			6,699			156,133			168,463			168,463			11,833
Franklin Allocation VIP Fund - Class 2			53,605			264,681			280,888			280,888			15,073
Franklin DynaTech VIP Fund - Class 2			71,667			233,330			399,195			399,195			7,704
Franklin Income VIP Fund - Class 2			187,557			2,776,659			2,693,335			2,693,335			113,110
Franklin Mutual Shares VIP Fund - Class 2			175,369			2,929,753			2,874,280			2,874,280			100,292
Franklin Small Cap Value VIP Fund - Class 2			231,297			2,883,396			3,312,179			3,312,179			87,360
Franklin Small-Mid Cap Growth VIP Fund - Class 2			188,238			2,761,738			2,784,047			2,784,047			97,950
Franklin U.S. Government Securities VIP Fund - Class 2			264,656			3,086,697			2,694,194			2,694,194			185,312
Invesco American Franchise Fund I			75,143			4,413,851			5,976,136			5,976,136			145,919
Invesco American Franchise Fund II1			9,576			517,396			685,706			685,706			14,167
Invesco Discovery Mid Cap Growth Fund I			2,127			159,831			165,985			165,985			2,996
Invesco Discovery Mid Cap Growth Fund II			4,247			282,833			284,211			284,211			9,195
Invesco EQV International Equity I			11,070			382,162			371,066			371,066			10,067
Invesco EQV International Equity II			89,438			3,078,514			2,941,638			2,941,638			163,726
Invesco Global Real Estate			98,830			1,559,008			1,323,322			1,323,322			40,097
Invesco Health Care			8,701			246,037			234,847			234,847			5,666
Invesco Small Cap Equity II			12,263			197,027			212,614			212,614			7,233
LVIP American Century Balanced Fund Standard Class II1			774,283			5,787,808			6,506,302			6,506,302			210,392
LVIP American Century Inflation Protection Fund Service1			152,247			1,550,320			1,395,175			1,395,175			107,303
LVIP American Century International Fund Standard Class II1			353,172			3,774,796			3,773,285			3,773,285			217,759
LVIP American Century Large Company Value Fund Service1			23,127			366,656			443,769			443,769			15,367
LVIP American Century Ultra Fund Service Class1			14,107			334,367			409,568			409,568			6,051
LVIP American Century Ultra Fund Standard Class II1			14,569			292,994			442,212			442,212			5,223
LVIP American Century Value Fund Standard Class II1			167,398			1,844,245			2,047,110			2,047,110			48,865
LVIP JPMorgan Mid Cap Value Fund - Standard Class			416,975			4,308,193			4,063,851			4,063,851			67,187
LVIP JPMorgan U.S. Equity Fund - Standard Class			62,671			1,907,406			2,788,334			2,788,334			63,219
Morningstar Aggressive Growth ETF Asset Allocation Class I			10,805			136,522			168,460			168,460			7,754
Morningstar Aggressive Growth ETF Asset Allocation Class II			72,187			887,883			1,110,251			1,110,251			49,762
Morningstar Balanced ETF Asset Allocation Class I			31,782			343,574			348,964			348,964			18,844

SEE NOTES TO FINANCIAL STATEMENTS

8

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Symetra Separate Account C
Statements of Assets and Liabilities (continued)
As of December 31, 2024

Sub-Account			Number of Shares Owned			Investments at Cost			Investments at Fair Value			Net Assets			Accumulation Units Outstanding
Morningstar Balanced ETF Asset Allocation Class II			238,819			$	2,537,430		$	2,662,836		$	2,662,836		148,458
Morningstar Conservative ETF Asset Allocation Class I			69,620			766,806			714,285			714,285			50,902
Morningstar Conservative ETF Asset Allocation Class II			14,411			157,658			146,982			146,982			11,814
Morningstar Growth ETF Asset Allocation Class I			8,726			97,168			110,386			110,386			5,394
Morningstar Growth ETF Asset Allocation Class II			170,902			1,886,007			2,110,645			2,110,645			102,507
Morningstar Income & Growth ETF Asset Allocation Class I			6,210			61,096			59,674			59,674			3,750
Morningstar Income & Growth ETF Asset Allocation Class II			59,321			623,698			613,381			613,381			40,640
Neuberger Berman AMT Mid Cap Growth Class S			14,619			369,883			389,141			389,141			10,961
Neuberger Berman AMT Mid Cap Intrinsic Value Class S			1,135			20,616			23,156			23,156			999
Neuberger Berman AMT Sustainable Equity Class S			3,725			115,137			149,335			149,335			3,834
PIMCO All Asset Portfolio Advisor1			22,253			229,688			198,949			198,949			10,724
PIMCO CommodityRealReturn Strat. Administrative Class			130,687			836,781			712,246			712,246			89,903
PIMCO Total Return Portfolio Advisor			111			1,025			1,007			1,007			85
Pioneer Bond VCT Class I			147,921			1,599,164			1,384,549			1,384,549			35,542
Pioneer Equity Income VCT Class II			201,078			2,848,033			2,678,365			2,678,365			77,765
Pioneer Fund VCT Class I			2,375,330			34,486,775			44,133,636			44,133,636			181,788
Pioneer High Yield VCT Class II			66,332			578,684			557,198			557,198			27,871
Pioneer Mid Cap Value VCT Class I			405,512			4,825,056			4,639,059			4,639,059			70,507
Pioneer Select Mid Cap Growth VCT Class I			1,187,389			29,941,642			32,403,869			32,403,869			187,634
Pioneer Strategic Income VCT Class II			222,325			2,169,698			1,963,136			1,963,136			116,554
Templeton Developing Markets VIP Fund - Class 2			111,803			1,049,780			944,739			944,739			36,442
Templeton Global Bond VIP Fund - Class 2			125,009			1,908,879			1,422,598			1,422,598			109,332
Templeton Growth VIP Fund - Class 2			185,419			2,130,603			2,314,016			2,314,016			109,853
Vanguard Balanced			10,266			245,096			254,310			254,310			8,629
Vanguard High Yield Bond			110,677			821,442			819,014			819,014			42,421
Vanguard International			32,272			972,586			826,154			826,154			39,414
Vanguard Mid-Cap Index			30,772			727,298			825,926			825,926			25,244
Vanguard Real Estate Index			19,061			248,046			223,784			223,784			11,929
Vanguard Total Bond Market Index			132,753			1,475,110			1,388,606			1,388,606			114,358
Vanguard Total Stock Market Index			41,509			2,041,458			2,331,212			2,331,212			55,649

SEE NOTES TO FINANCIAL STATEMENTS

9

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Symetra Separate Account C
Statements of Assets and Liabilities (continued)
As of December 31, 2024

Sub-Account			Number of Shares Owned			Investments at Cost			Investments at Fair Value			Net Assets			Accumulation Units Outstanding
Voya Global High Dividend Low Volatility Portfolio - Class S			32,399			$	324,539		$	380,056		$	380,056		7,777
VY JPMorgan Emerging Markets Equity Portfolio Initial			24,164			375,245			307,138			307,138			10,218
Wanger Acorn			1,016			11,999			15,464			15,464			113

1Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

SEE NOTES TO FINANCIAL STATEMENTS

10

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
BNY Mellon Appreciation			$	3,363,378		$	14,702		$	(43,914)		$	(5,357)		$	(34,569)		$	(32,233)		$	252,644		$	182,683		$	403,094		$	368,525		$	41,508		$	(374,283)		$	(332,775)		$	35,750		$	3,399,128
BNY Mellon MidCap Stock			5,447,782			46,566			(69,481)			(8,779)			(31,694)			57,724			79,647			469,413			606,784			575,090			67,917			(669,600)			(601,683)			(26,593)			5,421,189
BNY Mellon Stock Index			8,954,779			88,279			(122,074)			(15,706)			(49,501)			464,011			613,571			930,080			2,007,662			1,958,161			129,833			(1,038,338)			(908,505)			1,049,656			10,004,435
BNY Mellon Sustainable U.S. Equity1			2,286,423			13,768			(31,124)			(3,766)			(21,122)			100,255			16,390			406,909			523,554			502,432			61,749			(357,395)			(295,646)			206,786			2,493,209
BNY Mellon Technology Growth			2,931,320			—			(38,447)			(4,721)			(43,168)			220,950			—			472,328			693,278			650,110			20,021			(463,102)			(443,081)			207,029			3,138,349
Calvert SRI Balanced			346,128			5,827			(4,467)			(538)			822			11,623			6,002			40,001			57,626			58,448			5,934			(53,349)			(47,415)			11,033			357,161
Columbia VP Select Mid Cap Value Fund - Class 11			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
CVT EAFE International Index Class F1			336,039			9,440			(4,405)			(669)			4,366			3,301			—			(2,366)			935			5,301			17,388			(21,279)			(3,891)			1,410			337,449
CVT Investment Grade Bond Index Class I1			2,178,904			57,718			(26,203)			(3,423)			28,092			(31,096)			—			(4,875)			(35,971)			(7,879)			57,715			(247,618)			(189,903)			(197,782)			1,981,122
CVT Nasdaq-100 Index Class I1			2,856,481			10,226			(39,829)			(4,971)			(34,574)			315,488			201,048			178,120			694,656			660,082			232,316			(493,224)			(260,908)			399,174			3,255,655
CVT Russell 2000 Small Cap Index Class F1			735,046			9,351			(9,374)			(1,260)			(1,283)			(594)			15,127			53,196			67,729			66,446			35,583			(66,184)			(30,601)			35,845			770,891
CVT S&P MidCap 400 Index Class F1			672,400			8,126			(8,763)			(1,208)			(1,845)			6,734			29,286			42,447			78,467			76,622			16,797			(69,890)			(53,093)			23,529			695,929
DWS Capital Growth VIP B1			1,010,894			—			(6,283)			(768)			(7,051)			234,718			88,041			(157,911)			164,848			157,797			54,368			(1,223,059)			(1,168,691)			(1,010,894)			—
DWS CROCI International VIP - Class A			1,221,608			40,419			(14,920)			(1,797)			23,702			(33,769)			—			24,407			(9,362)			14,340			10,582			(237,411)			(226,829)			(212,489)			1,009,119

SEE NOTES TO FINANCIAL STATEMENTS

11

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
DWS Global Income Builder VIP A			$	5,270,483		$	185,342		$	(66,066)		$	(8,085)		$	111,191		$	(31,204)		$	—		$	304,439		$	273,235		$	384,426		$	36,980		$	(562,697)		$	(525,717)		$	(141,291)		$	5,129,192
DWS Global Small Cap VIP B1			87,211			469			(371)			(45)			53			(2,386)			1,865			784			263			316			420			(87,947)			(87,527)			(87,211)			—
DWS International Growth VIP B Share1			20,075			206			(89)			(14)			103			2,985			—			(1,700)			1,285			1,388			461			(21,924)			(21,463)			(20,075)			—
DWS Small Cap Index A Share			147,454			1,790			(1,606)			(357)			(173)			(516)			4,195			10,861			14,540			14,367			—			(726)			(726)			13,641			161,095
Federated Hermes High Income Bond			817,982			43,677			(9,782)			(1,201)			32,694			(11,558)			—			14,510			2,952			35,646			8,447			(90,653)			(82,206)			(46,560)			771,422
Federated Hermes Managed Volatility II			418,631			8,908			(5,024)			(603)			3,281			(6,801)			—			55,382			48,581			51,862			1,797			(73,127)			(71,330)			(19,468)			399,163
Fidelity Asset Manager			98,341			2,045			(1,087)			(130)			828			(108)			603			4,542			5,037			5,865			336			(23,978)			(23,642)			(17,777)			80,564
Fidelity Contrafund			26,670,424			55,161			(381,742)			(47,034)			(373,615)			2,446,572			3,482,315			2,630,485			8,559,372			8,185,757			618,803			(4,725,802)			(4,106,999)			4,078,758			30,749,182
Fidelity Contrafund II1			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Fidelity Equity-Income			3,670,753			66,606			(48,872)			(5,952)			11,782			147,424			218,326			121,481			487,231			499,013			117,916			(488,414)			(370,498)			128,515			3,799,268
Fidelity Freedom Funds 2010 II			458,026			15,869			(5,895)			(707)			9,267			(1,986)			401			9,135			7,550			16,817			—			(5,927)			(5,927)			10,890			468,916
Fidelity Freedom Funds 2015 II			96,220			2,923			(1,209)			(145)			1,569			(1,315)			2,850			1,278			2,813			4,382			—			(4,044)			(4,044)			338			96,558
Fidelity Freedom Funds 2020 II			334,128			9,932			(4,489)			(542)			4,901			(846)			9,870			4,716			13,740			18,641			57,177			(26,513)			30,664			49,305			383,433
Fidelity Freedom Funds 2025 II			759,585			19,206			(10,243)			(1,344)			7,619			2,352			1,630			38,683			42,665			50,284			46,434			(6,016)			40,418			90,702			850,287

SEE NOTES TO FINANCIAL STATEMENTS

12

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
Fidelity Freedom Funds 2030 II			$	1,597,361		$	33,355		$	(21,053)		$	(2,526)		$	9,776		$	15,171		$	3,563		$	96,446		$	115,180		$	124,956		$	30,240		$	(110,882)		$	(80,642)		$	44,314		$	1,641,675
Fidelity Freedom Funds 2050 II			28,510			342			(393)			—			(51)			182			582			2,746			3,510			3,459			—			—			—			3,459			31,969
Fidelity Freedom Income Fund II			104,892			3,310			(1,223)			(170)			1,917			(225)			59			763			597			2,514			15			(11,680)			(11,665)			(9,151)			95,741
Fidelity Government Money Market Portfolio - Initial Class			86,858			4,377			(840)			(317)			3,220			—			—			—			—			3,220			260			(11,009)			(10,749)			(7,529)			79,329
Fidelity Government Money Market Portfolio - Service Class II			5,841,672			279,421			(74,331)			(9,168)			195,922			—			—			—			—			195,922			1,379,043			(1,346,878)			32,165			228,087			6,069,759
Fidelity Growth			14,465,115			143			(205,501)			(25,094)			(230,452)			869,746			3,576,154			(224,076)			4,221,824			3,991,372			102,130			(1,691,158)			(1,589,028)			2,402,344			16,867,459
Fidelity Growth & Income			4,740,420			72,856			(63,861)			(8,021)			974			274,825			331,802			326,496			933,123			934,097			83,740			(570,623)			(486,883)			447,214			5,187,634
Fidelity Growth Opportunities			4,459,356			—			(62,168)			(7,558)			(69,726)			615,201			—			991,576			1,606,777			1,537,051			13,482			(978,009)			(964,527)			572,524			5,031,880
Fidelity Index 500			1,184,080			17,436			(13,753)			(2,806)			877			17,247			841			258,172			276,260			277,137			—			(26,697)			(26,697)			250,440			1,434,520
Fidelity Mid Cap II			3,624,262			11,740			(45,164)			(5,692)			(39,116)			98,373			463,395			3,317			565,085			525,969			20,235			(713,980)			(693,745)			(167,776)			3,456,486
Fidelity Overseas II			168,428			2,417			(2,274)			(278)			(135)			10,265			7,971			(10,920)			7,316			7,181			34,860			(42,006)			(7,146)			35			168,463
Franklin Allocation VIP Fund - Class 2			284,318			6,085			(3,642)			(437)			2,006			(9,810)			—			29,105			19,295			21,301			7,068			(31,799)			(24,731)			(3,430)			280,888
Franklin DynaTech VIP Fund - Class 2			609,550			—			(5,316)			(638)			(5,954)			(137,318)			—			268,396			131,078			125,124			25,937			(361,416)			(335,479)			(210,355)			399,195
Franklin Income VIP Fund - Class 2			2,688,010			142,645			(34,306)			(4,329)			104,010			(10,157)			11,688			47,037			48,568			152,578			65,106			(212,359)			(147,253)			5,325			2,693,335

SEE NOTES TO FINANCIAL STATEMENTS

13

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
Franklin Mutual Shares VIP Fund - Class 2			$	2,963,464		$	57,423		$	(37,495)		$	(4,596)		$	15,332		$	(68,584)		$	59,715		$	270,560		$	261,691		$	277,023		$	31,519		$	(397,726)		$	(366,207)		$	(89,184)		$	2,874,280
Franklin Small Cap Value VIP Fund - Class 2			3,809,407			32,948			(43,946)			(5,459)			(16,457)			(180,729)			81,436			451,732			352,439			335,982			64,879			(898,089)			(833,210)			(497,228)			3,312,179
Franklin Small-Mid Cap Growth VIP Fund - Class 2			3,024,939			—			(36,388)			(4,395)			(40,783)			(107,377)			—			419,091			311,714			270,931			32,182			(544,005)			(511,823)			(240,892)			2,784,047
Franklin U.S. Government Securities VIP Fund - Class 2			3,080,763			91,691			(36,932)			(4,739)			50,020			(97,482)			—			49,772			(47,710)			2,310			116,164			(505,043)			(388,879)			(386,569)			2,694,194
Invesco American Franchise Fund I			5,167,427			—			(71,636)			(8,663)			(80,299)			263,626			—			1,420,497			1,684,123			1,603,824			27,704			(822,819)			(795,115)			808,709			5,976,136
Invesco American Franchise Fund II1			664,426			—			(8,510)			(1,030)			(9,540)			4,164			—			195,591			199,755			190,215			14,699			(183,634)			(168,935)			21,280			685,706
Invesco Discovery Mid Cap Growth Fund I			141,964			—			(1,959)			(239)			(2,198)			(1,404)			—			34,689			33,285			31,087			—			(7,066)			(7,066)			24,021			165,985
Invesco Discovery Mid Cap Growth Fund II			219,341			—			(3,339)			(411)			(3,750)			(8,383)			—			63,981			55,598			51,848			34,765			(21,743)			13,022			64,870			284,211
Invesco EQV International Equity I			401,628			6,759			(4,922)			(600)			1,237			1,520			2,009			(6,682)			(3,153)			(1,916)			10,410			(39,056)			(28,646)			(30,562)			371,066
Invesco EQV International Equity II			3,669,047			48,569			(42,835)			(5,231)			503			(4,928)			16,820			(24,802)			(12,910)			(12,407)			81,475			(796,477)			(715,002)			(727,409)			2,941,638
Invesco Global Real Estate			1,615,517			36,019			(18,428)			(2,313)			15,278			(57,812)			—			(3,752)			(61,564)			(46,286)			30,682			(276,591)			(245,909)			(292,195)			1,323,322
Invesco Health Care			239,839			—			(3,183)			(392)			(3,575)			931			—			9,740			10,671			7,096			4,041			(16,129)			(12,088)			(4,992)			234,847
Invesco Small Cap Equity II			233,675			—			(3,012)			(362)			(3,374)			(1,314)			12,222			29,071			39,979			36,605			3,493			(61,159)			(57,666)			(21,061)			212,614
LVIP American Century Balanced Fund Standard Class II1			6,559,353			133,608			(84,664)			(10,661)			38,283			146,249			—			490,895			637,144			675,427			70,098			(798,576)			(728,478)			(53,051)			6,506,302

SEE NOTES TO FINANCIAL STATEMENTS

14

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
LVIP American Century Inflation Protection Fund Service1			$	1,606,418		$	53,421		$	(19,033)		$	(2,365)		$	32,023		$	(22,636)		$	—		$	(6,103)		$	(28,739)		$	3,284		$	91,032		$	(305,559)		$	(214,527)		$	(211,243)		$	1,395,175
LVIP American Century International Fund Standard Class II1			4,125,494			65,730			(51,287)			(6,302)			8,141			28,485			—			21,401			49,886			58,027			54,221			(464,457)			(410,236)			(352,209)			3,773,285
LVIP American Century Large Company Value Fund Service1			418,056			10,587			(5,480)			(670)			4,437			6,359			7,861			17,987			32,207			36,644			11,469			(22,400)			(10,931)			25,713			443,769
LVIP American Century Ultra Fund Service Class1			420,644			—			(5,464)			(690)			(6,154)			56,178			37,694			14,612			108,484			102,330			15,685			(129,091)			(113,406)			(11,076)			409,568
LVIP American Century Ultra Fund Standard Class II1			418,960			—			(5,301)			(671)			(5,972)			38,029			36,346			32,625			107,000			101,028			2,575			(80,351)			(77,776)			23,252			442,212
LVIP American Century Value Fund Standard Class II1			2,274,943			60,957			(27,184)			(3,405)			30,368			77,138			124,934			(65,639)			136,433			166,801			34,808			(429,442)			(394,634)			(227,833)			2,047,110
LVIP JPMorgan Mid Cap Value Fund - Standard Class			4,109,973			49,909			(52,861)			(6,502)			(9,454)			17,031			653,352			(153,767)			516,616			507,162			56,465			(609,749)			(553,284)			(46,122)			4,063,851
LVIP JPMorgan U.S. Equity Fund - Standard Class			2,436,550			13,864			(33,999)			(4,520)			(24,655)			96,231			117,158			340,387			553,776			529,121			5,114			(182,451)			(177,337)			351,784			2,788,334
Morningstar Aggressive Growth ETF Asset Allocation Class I			148,694			2,445			(1,546)			(614)			285			394			2,400			16,729			19,523			19,808			—			(42)			(42)			19,766			168,460
Morningstar Aggressive Growth ETF Asset Allocation Class II			1,143,263			13,886			(14,238)			(1,706)			(2,058)			42,229			16,083			83,366			141,678			139,620			21,553			(194,185)			(172,632)			(33,012)			1,110,251
Morningstar Balanced ETF Asset Allocation Class I			693,572			7,019			(3,677)			(1,328)			2,014			(32,640)			3,297			55,361			26,018			28,032			1,021			(373,661)			(372,640)			(344,608)			348,964
Morningstar Balanced ETF Asset Allocation Class II			2,653,294			46,536			(33,429)			(4,039)			9,068			2,926			24,945			182,305			210,176			219,244			53,394			(263,096)			(209,702)			9,542			2,662,836
Morningstar Conservative ETF Asset Allocation Class I			797,299			17,970			(7,266)			(1,867)			8,837			(10,114)			—			33,692			23,578			32,415			168			(115,597)			(115,429)			(83,014)			714,285
Morningstar Conservative ETF Asset Allocation Class II			114,249			3,366			(1,522)			(187)			1,657			(2,331)			—			4,212			1,881			3,538			44,286			(15,091)			29,195			32,733			146,982

SEE NOTES TO FINANCIAL STATEMENTS

15

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
Morningstar Growth ETF Asset Allocation Class I			$	99,128		$	1,819		$	(1,019)		$	(428)		$	372		$	227		$	2,159		$	8,500		$	10,886		$	11,258		$	—		$	—		$	—		$	11,258		$	110,386
Morningstar Growth ETF Asset Allocation Class II			1,904,461			30,753			(25,628)			(3,075)			2,050			4,456			42,319			162,308			209,083			211,133			16,733			(21,682)			(4,949)			206,184			2,110,645
Morningstar Income & Growth ETF Asset Allocation Class I			67,150			1,603			(612)			(257)			734			(468)			415			3,544			3,491			4,225			—			(11,701)			(11,701)			(7,476)			59,674
Morningstar Income & Growth ETF Asset Allocation Class II			543,710			13,516			(7,252)			(882)			5,382			(214)			3,919			25,806			29,511			34,893			42,388			(7,610)			34,778			69,671			613,381
Neuberger Berman AMT Mid Cap Growth Class S			360,184			—			(4,765)			(573)			(5,338)			2,903			23,603			53,905			80,411			75,073			5,602			(51,718)			(46,116)			28,957			389,141
Neuberger Berman AMT Mid Cap Intrinsic Value Class S			18,398			59			(264)			(32)			(237)			6			585			1,071			1,662			1,425			3,668			(335)			3,333			4,758			23,156
Neuberger Berman AMT Sustainable Equity Class S			131,120			—			(1,767)			(214)			(1,981)			1,392			6,738			23,008			31,138			29,157			4,795			(15,737)			(10,942)			18,215			149,335
PIMCO All Asset Portfolio Advisor1			228,839			13,730			(2,749)			(321)			10,660			(4,845)			—			(747)			(5,592)			5,068			2,899			(37,857)			(34,958)			(29,890)			198,949
PIMCO CommodityRealReturn Strat. Administrative Class			760,648			16,696			(9,596)			(1,168)			5,932			(17,264)			—			32,391			15,127			21,059			56,538			(125,999)			(69,461)			(48,402)			712,246
PIMCO Total Return Portfolio Advisor			329,152			9,324			(3,031)			—			6,293			(14,634)			—			11,282			(3,352)			2,941			47,351			(378,437)			(331,086)			(328,145)			1,007
Pioneer Bond VCT Class I			1,470,033			63,282			(17,725)			(2,169)			43,388			(24,183)			—			3,991			(20,192)			23,196			17,183			(125,863)			(108,680)			(85,484)			1,384,549
Pioneer Equity Income VCT Class II			3,257,428			56,690			(37,627)			(4,535)			14,528			(97,994)			553,843			(190,509)			265,340			279,868			113,591			(972,522)			(858,931)			(579,063)			2,678,365
Pioneer Fund VCT Class I			40,253,044			317,030			(557,961)			(67,060)			(307,991)			364,509			2,159,931			6,046,025			8,570,465			8,262,474			147,246			(4,529,128)			(4,381,882)			3,880,592			44,133,636
Pioneer High Yield VCT Class II			567,410			32,199			(7,337)			(888)			23,974			(11,713)			—			27,443			15,730			39,704			51,858			(101,774)			(49,916)			(10,212)			557,198

SEE NOTES TO FINANCIAL STATEMENTS

16

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
Pioneer Mid Cap Value VCT Class I			$	4,935,934		$	92,248		$	(61,146)		$	(7,342)		$	23,760		$	(557,740)		$	283,139		$	700,691		$	426,090		$	449,850		$	44,144		$	(790,869)		$	(746,725)		$	(296,875)		$	4,639,059
Pioneer Select Mid Cap Growth VCT Class I			30,695,360			—			(404,708)			(48,702)			(453,410)			24,371			—			6,949,051			6,973,422			6,520,012			123,887			(4,935,390)			(4,811,503)			1,708,509			32,403,869
Pioneer Strategic Income VCT Class II			2,256,052			87,052			(27,446)			(3,378)			56,228			(71,881)			—			71,245			(636)			55,592			147,411			(495,919)			(348,508)			(292,916)			1,963,136
Templeton Developing Markets VIP Fund - Class 2			1,065,185			40,018			(12,865)			(1,567)			25,586			10,494			7,691			21,118			39,303			64,889			21,200			(206,535)			(185,335)			(120,446)			944,739
Templeton Global Bond VIP Fund - Class 2			1,899,729			—			(21,630)			(2,757)			(24,387)			(118,377)			—			(78,892)			(197,269)			(221,656)			72,504			(327,979)			(255,475)			(477,131)			1,422,598
Templeton Growth VIP Fund - Class 2			2,502,547			23,881			(31,158)			(3,771)			(11,048)			(48,212)			8,173			153,483			113,444			102,396			50,709			(341,636)			(290,927)			(188,531)			2,314,016
Vanguard Balanced			242,845			5,936			(2,625)			(729)			2,582			3,575			12,840			13,459			29,874			32,456			19,341			(40,332)			(20,991)			11,465			254,310
Vanguard High Yield Bond			597,924			34,086			(7,092)			(1,481)			25,513			(162)			—			2,930			2,768			28,281			199,931			(7,122)			192,809			221,090			819,014
Vanguard International			765,517			9,763			(8,084)			(1,654)			25			(37,728)			25,846			70,969			59,087			59,112			70,317			(68,792)			1,525			60,637			826,154
Vanguard Mid-Cap Index			751,851			11,120			(7,912)			(2,246)			962			6,662			9,269			85,392			101,323			102,285			1,625			(29,835)			(28,210)			74,075			825,926
Vanguard Real Estate Index			225,318			7,108			(2,280)			(476)			4,352			(1,039)			5,995			(986)			3,970			8,322			4,327			(14,183)			(9,856)			(1,534)			223,784
Vanguard Total Bond Market Index			1,186,646			32,848			(14,394)			(2,859)			15,595			(2,480)			—			(9,264)			(11,744)			3,851			215,703			(17,594)			198,109			201,960			1,388,606
Vanguard Total Stock Market Index			1,974,628			27,254			(21,395)			(5,094)			765			124,249			149,415			157,020			430,684			431,449			561,992			(636,857)			(74,865)			356,584			2,331,212
Voya Global High Dividend Low Volatility Portfolio - Class S			378,575			9,927			(4,988)			(601)			4,338			8,936			13,200			15,240			37,376			41,714			650			(40,883)			(40,233)			1,481			380,056

SEE NOTES TO FINANCIAL STATEMENTS

17

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2024

Sub-Account			Net Assets as of January 1, 2024			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2024
VY JPMorgan Emerging Markets Equity Portfolio Initial			$	407,160		$	4,441		$	(5,034)		$	(604)		$	(1,197)		$	(48,671)		$	—		$	60,552		$	11,881		$	10,684		$	4,975		$	(115,681)		$	(110,706)		$	(100,022)		$	307,138
Wanger Acorn			28,639			—			(219)			(26)			(245)			2,641			—			116			2,757			2,512			—			(15,687)			(15,687)			(13,175)			15,464

1Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

SEE NOTES TO FINANCIAL STATEMENTS

18

---

Symetra Separate Account C
Statements of Operations and Changes in Net Assets
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
American Century Balanced1			$	6,599,294		$	127,832		$	(83,389)		$	(10,469)		$	33,974		$	(20,751)		$	—		$	893,207		$	872,456		$	906,430		$	108,695		$	(1,055,066)		$	(946,371)		$	(39,941)		$	6,559,353
American Century Inflation Protection II1			1,883,910			58,701			(22,357)			(2,777)			33,567			(41,944)			—			36,517			(5,427)			28,140			95,329			(400,961)			(305,632)			(277,492)			1,606,418
American Century International1			4,010,112			58,439			(51,863)			(6,362)			214			(1,644)			—			433,568			431,924			432,138			74,399			(391,155)			(316,756)			115,382			4,125,494
American Century Large Company Value II1			448,393			10,567			(5,412)			(661)			4,494			7,492			12,255			(16,733)			3,014			7,508			14,030			(51,875)			(37,845)			(30,337)			418,056
American Century Ultra I1			341,400			—			(4,928)			(633)			(5,561)			29,030			28,945			81,117			139,092			133,531			2,790			(58,761)			(55,971)			77,560			418,960
American Century Ultra II1			383,596			—			(5,276)			(660)			(5,936)			26,855			31,661			93,478			151,994			146,058			44,442			(153,452)			(109,010)			37,048			420,644
American Century Value1			2,295,688			53,332			(27,965)			(3,493)			21,874			52,669			175,511			(88,142)			140,038			161,912			50,845			(233,502)			(182,657)			(20,745)			2,274,943
BNY Mellon Appreciation			3,130,818			23,097			(40,655)			(4,953)			(22,511)			(78,333)			284,142			395,945			601,754			579,243			33,554			(380,237)			(346,683)			232,560			3,363,378
BNY Mellon MidCap Stock			5,134,671			42,073			(65,014)			(8,217)			(31,158)			(87,852)			169,154			751,696			832,998			801,840			49,422			(538,151)			(488,729)			313,111			5,447,782
BNY Mellon Stock Index			7,972,033			98,731			(105,714)			(13,570)			(20,553)			324,733			318,687			1,193,099			1,836,519			1,815,966			113,096			(946,316)			(833,220)			982,746			8,954,779
BNY Mellon Sustainable U.S. Equity1			2,088,333			16,511			(27,499)			(3,325)			(14,313)			42,681			265,137			142,153			449,971			435,658			34,811			(272,379)			(237,568)			198,090			2,286,423
BNY Mellon Technology Growth			1,993,752			—			(31,470)			(3,878)			(35,348)			59,982			—			1,083,649			1,143,631			1,108,283			23,016			(193,731)			(170,715)			937,568			2,931,320
Calvert EAFE International Index F Class1			172,621			9,500			(3,427)			(516)			5,557			930			—			25,410			26,340			31,897			151,694			(20,173)			131,521			163,418			336,039
Calvert Investment Grade Bond Index1			1,841,828			58,227			(26,152)			(3,331)			28,744			(60,974)			—			100,286			39,312			68,056			632,346			(363,326)			269,020			337,076			2,178,904

SEE NOTES TO FINANCIAL STATEMENTS

19

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
Calvert Nasdaq 100 Index1			$	2,574,332		$	9,746		$	(37,663)		$	(4,676)		$	(32,593)		$	564,720		$	—		$	706,186		$	1,270,906		$	1,238,313		$	81,749		$	(1,037,913)		$	(956,164)		$	282,149		$	2,856,481
Calvert Russell 2000 Small Cap Index F Class1			631,352			5,963			(8,263)			(1,103)			(3,403)			(2,075)			380			99,147			97,452			94,049			22,700			(13,055)			9,645			103,694			735,046
Calvert S&P MidCap 400 Index F Class1			668,111			7,886			(8,478)			(1,144)			(1,736)			(4,885)			26,610			64,858			86,583			84,847			26,977			(107,535)			(80,558)			4,289			672,400
Calvert SRI Balanced			311,252			5,139			(3,988)			(481)			670			1,947			1,231			42,183			45,361			46,031			29,840			(40,995)			(11,155)			34,876			346,128
Columbia VP Select Mid Cap Value Fund - Class 11			6,786			—			(15)			—			(15)			5,018			—			(4,693)			325			310			—			(7,096)			(7,096)			(6,786)			—
DWS Capital Growth VIP B1			963,132			—			(12,913)			(1,576)			(14,489)			42,299			44,836			240,947			328,082			313,593			23,519			(289,350)			(265,831)			47,762			1,010,894
DWS CROCI International VIP - Class A			1,134,673			39,514			(14,903)			(1,795)			22,816			(20,567)			—			183,182			162,615			185,431			3,028			(101,524)			(98,496)			86,935			1,221,608
DWS Global Income Builder VIP A			4,952,286			160,464			(63,139)			(7,720)			89,605			(80,711)			—			624,987			544,276			633,881			225,904			(541,588)			(315,684)			318,197			5,270,483
DWS Global Small Cap VIP B1			72,861			454			(969)			(116)			(631)			(3,535)			463			19,860			16,788			16,157			5,238			(7,045)			(1,807)			14,350			87,211
DWS International Growth VIP B Share1			16,650			91			(232)			(28)			(169)			9			—			2,573			2,582			2,413			1,027			(15)			1,012			3,425			20,075
DWS Small Cap Index A Share			148,034			1,508			(1,430)			(303)			(225)			(14,611)			3,231			30,820			19,440			19,215			18,897			(38,692)			(19,795)			(580)			147,454
Federated Hermes High Income Bond			1,036,445			62,224			(11,403)			(1,394)			49,427			(96,040)			—			139,535			43,495			92,922			6,812			(318,197)			(311,385)			(218,463)			817,982
Federated Hermes Managed Volatility II			406,732			7,572			(5,030)			(601)			1,941			(3,941)			—			30,259			26,318			28,259			2,932			(19,292)			(16,360)			11,899			418,631
Fidelity Asset Manager			88,276			2,215			(1,156)			(139)			920			(140)			986			8,281			9,127			10,047			340			(322)			18			10,065			98,341

SEE NOTES TO FINANCIAL STATEMENTS

20

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
Fidelity Contrafund			$	21,896,466		$	118,599		$	(305,445)		$	(37,623)		$	(224,469)		$	896,174		$	862,722		$	5,150,580		$	6,909,476		$	6,685,007		$	378,840		$	(2,289,889)		$	(1,911,049)		$	4,773,958		$	26,670,424
Fidelity Contrafund II1			7,016			—			(15)			—			(15)			1,292			73			(1,094)			271			256			—			(7,272)			(7,272)			(7,016)			—
Fidelity Equity-Income			3,786,035			67,742			(45,940)			(5,589)			16,213			140,275			101,684			54,458			296,417			312,630			111,732			(539,644)			(427,912)			(115,282)			3,670,753
Fidelity Freedom Funds 2010 II			571,172			18,495			(6,851)			(822)			10,822			(37,688)			39,777			20,647			22,736			33,558			92			(146,796)			(146,704)			(113,146)			458,026
Fidelity Freedom Funds 2015 II			121,667			3,516			(1,407)			(169)			1,940			(10,511)			2,353			15,626			7,468			9,408			—			(34,855)			(34,855)			(25,447)			96,220
Fidelity Freedom Funds 2020 II			552,382			11,414			(4,461)			(554)			6,399			(37,180)			3,372			68,421			34,613			41,012			25,321			(284,587)			(259,266)			(218,254)			334,128
Fidelity Freedom Funds 2025 II			742,504			19,375			(9,014)			(1,180)			9,181			465			—			71,774			72,239			81,420			8,451			(72,790)			(64,339)			17,081			759,585
Fidelity Freedom Funds 2030 II			1,448,386			34,307			(18,827)			(2,259)			13,221			(2,431)			—			171,314			168,883			182,104			83,032			(116,161)			(33,129)			148,975			1,597,361
Fidelity Freedom Funds 2050 II			24,221			336			(327)			—			9			115			401			3,764			4,280			4,289			—			—			—			4,289			28,510
Fidelity Freedom Income Fund II			105,337			4,205			(1,305)			(184)			2,716			(303)			—			3,759			3,456			6,172			11			(6,628)			(6,617)			(445)			104,892
Fidelity Government Money Market Portfolio - Initial Class			23,794			4,364			(842)			(319)			3,203			—			—			—			—			3,203			120,953			(61,092)			59,861			63,064			86,858
Fidelity Government Money Market Portfolio - Service Class II			4,830,204			244,883			(67,107)			(8,311)			169,465			—			—			—			—			169,465			1,833,803			(991,800)			842,003			1,011,468			5,841,672
Fidelity Growth			11,946,532			16,846			(168,673)			(20,576)			(172,403)			636,304			609,929			2,864,537			4,110,770			3,938,367			96,134			(1,515,918)			(1,419,784)			2,518,583			14,465,115
Fidelity Growth & Income			4,287,936			74,473			(56,179)			(7,041)			11,253			99,133			168,146			430,756			698,035			709,288			72,484			(329,288)			(256,804)			452,484			4,740,420

SEE NOTES TO FINANCIAL STATEMENTS

21

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
Fidelity Growth Opportunities			$	3,253,658		$	—		$	(48,640)		$	(5,919)		$	(54,559)		$	92,920		$	—		$	1,348,391		$	1,441,311		$	1,386,752		$	17,095		$	(198,149)		$	(181,054)		$	1,205,698		$	4,459,356
Fidelity Index 500			1,015,912			16,022			(11,053)			(2,299)			2,670			31,654			10,206			194,718			236,578			239,248			—			(71,080)			(71,080)			168,168			1,184,080
Fidelity Mid Cap II			3,410,499			13,205			(43,154)			(5,433)			(35,382)			43,870			98,721			324,272			466,863			431,481			41,622			(259,340)			(217,718)			213,763			3,624,262
Fidelity Overseas II			137,665			1,267			(1,923)			(235)			(891)			209			425			26,069			26,703			25,812			7,556			(2,605)			4,951			30,763			168,428
Franklin Allocation VIP Fund - Class 2			323,719			4,506			(3,826)			(459)			221			(46,152)			5,230			77,131			36,209			36,430			7,335			(83,166)			(75,831)			(39,401)			284,318
Franklin DynaTech VIP Fund - Class 2			432,590			—			(6,601)			(791)			(7,392)			(7,123)			—			195,431			188,308			180,916			3,977			(7,933)			(3,956)			176,960			609,550
Franklin Income VIP Fund - Class 2			2,741,385			136,298			(33,452)			(4,217)			98,629			391			165,237			(83,309)			82,319			180,948			71,691			(306,014)			(234,323)			(53,375)			2,688,010
Franklin Mutual Shares VIP Fund - Class 2			2,960,292			54,979			(36,622)			(4,480)			13,877			(102,169)			253,049			163,587			314,467			328,344			36,867			(362,039)			(325,172)			3,172			2,963,464
Franklin Small Cap Value VIP Fund - Class 2			3,819,076			19,601			(46,442)			(5,761)			(32,602)			(244,019)			212,493			453,009			421,483			388,881			104,091			(502,641)			(398,550)			(9,669)			3,809,407
Franklin Small-Mid Cap Growth VIP Fund - Class 2			2,672,460			—			(35,409)			(4,272)			(39,681)			(112,939)			—			786,673			673,734			634,053			54,568			(336,142)			(281,574)			352,479			3,024,939
Franklin U.S. Government Securities VIP Fund - Class 2			3,289,389			87,074			(40,002)			(5,127)			41,945			(101,368)			—			147,025			45,657			87,602			135,676			(431,904)			(296,228)			(208,626)			3,080,763
Invesco American Franchise Fund I			3,892,200			—			(57,424)			(6,950)			(64,374)			93,533			104,192			1,356,209			1,553,934			1,489,560			37,585			(251,918)			(214,333)			1,275,227			5,167,427
Invesco American Franchise Fund II1			612,867			—			(8,347)			(1,009)			(9,356)			(46,580)			15,879			257,076			226,375			217,019			32,554			(198,014)			(165,460)			51,559			664,426
Invesco Discovery Mid Cap Growth Fund I			133,885			—			(1,698)			(208)			(1,906)			(3,099)			—			20,240			17,141			15,235			—			(7,156)			(7,156)			8,079			141,964

SEE NOTES TO FINANCIAL STATEMENTS

22

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
Invesco Discovery Mid Cap Growth Fund II			$	190,619		$	—		$	(2,606)		$	(321)		$	(2,927)		$	(15,626)		$	—		$	40,759		$	25,133		$	22,206		$	26,961		$	(20,445)		$	6,516		$	28,722		$	219,341
Invesco EQV International Equity I			434,999			784			(5,301)			(647)			(5,164)			(8,880)			294			78,442			69,856			64,692			8,947			(107,010)			(98,063)			(33,371)			401,628
Invesco EQV International Equity II			3,628,904			—			(45,453)			(5,541)			(50,994)			(54,077)			2,624			651,091			599,638			548,644			148,975			(657,476)			(508,501)			40,143			3,669,047
Invesco Global Real Estate			1,601,452			23,383			(19,702)			(2,472)			1,209			(39,834)			—			151,270			111,436			112,645			36,889			(135,469)			(98,580)			14,065			1,615,517
Invesco Health Care			240,844			—			(2,942)			(366)			(3,308)			384			—			6,472			6,856			3,548			2,340			(6,893)			(4,553)			(1,005)			239,839
Invesco Small Cap Equity II			215,216			—			(2,761)			(331)			(3,092)			(5,580)			4,519			34,766			33,705			30,613			9,057			(21,211)			(12,154)			18,459			233,675
LVIP JPMorgan Mid Cap Value Fund - Standard Class			4,087,660			124,467			(49,772)			(6,126)			68,569			(8,646)			349,435			(53,879)			286,910			355,479			72,552			(405,718)			(333,166)			22,313			4,109,973
LVIP JPMorgan U.S. Equity Fund - Standard Class			2,008,294			34,696			(27,536)			(3,659)			3,501			40,038			102,638			354,789			497,465			500,966			5,513			(78,223)			(72,710)			428,256			2,436,550
Morningstar Aggressive Growth ETF Asset Allocation Class I			133,520			2,609			(1,335)			(532)			742			820			2,839			16,007			19,666			20,408			—			(5,234)			(5,234)			15,174			148,694
Morningstar Aggressive Growth ETF Asset Allocation Class II			1,182,644			17,736			(13,827)			(1,659)			2,250			33,254			22,126			102,514			157,894			160,144			19,592			(219,117)			(199,525)			(39,381)			1,143,263
Morningstar Balanced ETF Asset Allocation Class I			620,941			15,154			(6,149)			(1,936)			7,069			(1,521)			15,514			51,644			65,637			72,706			417			(492)			(75)			72,631			693,572
Morningstar Balanced ETF Asset Allocation Class II			2,758,378			50,453			(33,460)			(4,070)			12,923			(34,666)			58,725			245,768			269,827			282,750			34,987			(422,821)			(387,834)			(105,084)			2,653,294
Morningstar Conservative ETF Asset Allocation Class I			749,440			19,860			(7,253)			(1,923)			10,684			(7,293)			8,992			39,201			40,900			51,584			30,659			(34,384)			(3,725)			47,859			797,299
Morningstar Conservative ETF Asset Allocation Class II			143,594			2,575			(1,627)			(195)			753			(9,919)			1,299			15,012			6,392			7,145			12,908			(49,398)			(36,490)			(29,345)			114,249

SEE NOTES TO FINANCIAL STATEMENTS

23

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
Morningstar Growth ETF Asset Allocation Class I			$	88,315		$	1,891		$	(881)		$	(371)		$	639		$	181		$	2,143		$	9,366		$	11,690		$	12,329		$	—		$	(1,516)		$	(1,516)		$	10,813		$	99,128
Morningstar Growth ETF Asset Allocation Class II			1,968,562			32,572			(23,865)			(2,864)			5,843			(2,310)			42,167			201,804			241,661			247,504			24,302			(335,907)			(311,605)			(64,101)			1,904,461
Morningstar Income & Growth ETF Asset Allocation Class I			74,651			1,683			(676)			(284)			723			(1,609)			691			6,574			5,656			6,379			—			(13,880)			(13,880)			(7,501)			67,150
Morningstar Income & Growth ETF Asset Allocation Class II			497,674			11,090			(6,466)			(785)			3,839			(1,224)			5,157			37,495			41,428			45,267			11,777			(11,008)			769			46,036			543,710
Neuberger Berman AMT Mid Cap Growth Class S			308,889			—			(4,135)			(497)			(4,632)			(1,830)			—			57,369			55,539			50,907			18,037			(17,649)			388			51,295			360,184
Neuberger Berman AMT Mid Cap Intrinsic Value Class S			23,479			85			(231)			(28)			(174)			(1,392)			733			2,356			1,697			1,523			3,096			(9,700)			(6,604)			(5,081)			18,398
Neuberger Berman AMT Sustainable Equity Class S			102,560			90			(1,400)			(174)			(1,484)			(119)			1,894			25,643			27,418			25,934			2,845			(219)			2,626			28,560			131,120
PIMCO All Asset Portfolio Advisor1			227,236			6,402			(2,831)			(332)			3,239			(3,589)			—			14,633			11,044			14,283			7,544			(20,224)			(12,680)			1,603			228,839
PIMCO CommodityRealReturn Strat. Administrative Class			907,549			134,975			(10,324)			(1,259)			123,392			(32,011)			—			(173,807)			(205,818)			(82,426)			96,101			(160,576)			(64,475)			(146,901)			760,648
PIMCO Total Return Portfolio Advisor			1,150,230			21,942			(7,983)			—			13,959			(146,867)			—			171,617			24,750			38,709			144,410			(1,004,197)			(859,787)			(821,078)			329,152
Pioneer Bond VCT Class I			1,500,887			58,341			(18,459)			(2,260)			37,622			(35,636)			—			75,447			39,811			77,433			24,026			(132,313)			(108,287)			(30,854)			1,470,033
Pioneer Equity Income VCT Class II			3,669,161			55,873			(42,243)			(5,092)			8,538			(32,330)			251,936			(53,755)			165,851			174,389			80,819			(666,941)			(586,122)			(411,733)			3,257,428
Pioneer Fund VCT Class I			34,363,200			318,313			(456,799)			(54,895)			(193,381)			(659,609)			1,518,371			8,207,393			9,066,155			8,872,774			157,266			(3,140,196)			(2,982,930)			5,889,844			40,253,044
Pioneer High Yield VCT Class II			910,709			37,639			(8,890)			(1,113)			27,636			(68,788)			—			100,904			32,116			59,752			22,830			(425,881)			(403,051)			(343,299)			567,410

SEE NOTES TO FINANCIAL STATEMENTS

24

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
Pioneer Mid Cap Value VCT Class I			$	5,045,119		$	99,679		$	(62,271)		$	(7,475)		$	29,933		$	(713,986)		$	579,105		$	592,092		$	457,211		$	487,144		$	56,711		$	(653,040)		$	(596,329)		$	(109,185)		$	4,935,934
Pioneer Select Mid Cap Growth VCT Class I			28,144,504			—			(363,149)			(43,715)			(406,864)			(979,388)			—			6,011,349			5,031,961			4,625,097			142,803			(2,217,044)			(2,074,241)			2,550,856			30,695,360
Pioneer Strategic Income VCT Class II			2,687,174			87,014			(30,453)			(3,787)			52,774			(122,888)			—			220,166			97,278			150,052			95,127			(676,301)			(581,174)			(431,122)			2,256,052
Templeton Developing Markets VIP Fund - Class 2			1,038,729			21,911			(13,278)			(1,619)			7,014			18,092			795			85,049			103,936			110,950			25,102			(109,596)			(84,494)			26,456			1,065,185
Templeton Global Bond VIP Fund - Class 2			2,062,850			—			(24,387)			(3,108)			(27,495)			(71,016)			—			120,069			49,053			21,558			66,908			(251,587)			(184,679)			(163,121)			1,899,729
Templeton Growth VIP Fund - Class 2			2,309,918			82,439			(30,362)			(3,671)			48,406			(30,601)			—			412,981			382,380			430,786			46,560			(284,717)			(238,157)			192,629			2,502,547
Vanguard Balanced			224,407			4,780			(2,336)			(662)			1,782			(1,027)			9,264			18,481			26,718			28,500			—			(10,062)			(10,062)			18,438			242,845
Vanguard High Yield Bond			329,280			16,757			(3,152)			(700)			12,905			(3,099)			—			26,047			22,948			35,853			322,154			(89,363)			232,791			268,644			597,924
Vanguard International			770,456			11,667			(7,523)			(1,524)			2,620			(66,353)			25,157			135,676			94,480			97,100			73,794			(175,833)			(102,039)			(4,939)			765,517
Vanguard Mid-Cap Index			711,435			10,157			(6,918)			(1,964)			1,275			(8,732)			12,745			90,102			94,115			95,390			33,877			(88,851)			(54,974)			40,416			751,851
Vanguard Real Estate Index			205,523			5,062			(2,057)			(455)			2,550			(1,328)			9,552			10,630			18,854			21,404			15,934			(17,543)			(1,609)			19,795			225,318
Vanguard Total Bond Market Index			694,130			30,797			(12,883)			(2,602)			15,312			(29,847)			—			43,082			13,235			28,547			687,474			(223,505)			463,969			492,516			1,186,646
Vanguard Total Stock Market Index			1,895,012			21,185			(18,137)			(4,186)			(1,138)			(43,917)			103,246			345,608			404,937			403,799			272,726			(596,909)			(324,183)			79,616			1,974,628

SEE NOTES TO FINANCIAL STATEMENTS

25

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Symetra Separate Account C
Statements of Operations and Changes in Net Assets (continued)
Year Ended December 31, 2023

Sub-Account			Net Assets as of January 1, 2023			Dividends			Mortality and Expense Risk Charge			Asset-Related Administration Charge			Net Investment Income (Loss)			Realized Gain (Loss) on Investments			Net Realized Capital Gain Distributions Received			Net Change in Unrealized Appreciation/Depreciation			Net Gain (Loss) on Investments			Net Increase (Decrease) in Net Assets Resulting from Operations			Contract Purchase Payments and Transfers In			Contract Terminations, Transfers and Maintenance Charges			Increase (Decrease) in Net Assets from Contract Transactions			Total Increase (Decrease) In Net Assets			Net Assets  as of December 31,  2023
Voya Global High Dividend Low Volatility Portfolio - Class S			$	414,078		$	10,539		$	(4,859)		$	(588)		$	5,092		$	5,051		$	13,446		$	(6,543)		$	11,954		$	17,046		$	15,993		$	(68,542)		$	(52,549)		$	(35,503)		$	378,575
VY JPMorgan Emerging Markets Equity Portfolio Initial			408,911			8,002			(5,130)			(616)			2,256			(18,393)			—			37,335			18,942			21,198			6,740			(29,689)			(22,949)			(1,751)			407,160
Wanger Acorn			42,179			—			(429)			(51)			(480)			(22,192)			—			28,880			6,688			6,208			17,851			(37,599)			(19,748)			(13,540)			28,639

1Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

SEE NOTES TO FINANCIAL STATEMENTS

26

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Symetra Separate Account C
Notes to Financial Statements

1.   ORGANIZATION

Symetra Separate Account C (the "Separate Account") is registered under the Investment Company Act of 1940, as amended, as a segregated unit investment trust of Symetra Life Insurance Company ("Symetra Life"), a wholly-owned subsidiary of Symetra Financial Corporation. Purchasers of various Symetra Life variable annuity products direct their investment to one or more of the sub-accounts of the Separate Account through the purchase of accumulation units ("Units"). Under the terms of the registration, the Separate Account is authorized to issue an unlimited number of Units. Each sub-account invests in shares of a designated portfolio of open-ended registered investment companies ("Mutual Funds") as indicated below. Not all sub-accounts are available in all Symetra Life variable annuity products. The performance of the underlying portfolios may differ substantially from publicly traded Mutual Funds with similar names and objectives.

Under applicable insurance law, the assets of the Separate Account are legally segregated and are not subject to claims that arise out of Symetra Life's or Symetra Financial Corporation's other business activities.

The Statements of Operations and Changes in Net Assets are reported for the years or periods ended December 31, 2024 and December 31, 2023 for the following sub-accounts, except as noted in the footnotes to the table below.

Following are the sub-accounts and related Mutual Funds.

Sub-Account						Mutual Fund
						BlackRock Variable Series Fund, Inc
BlackRock Advantage Large Cap Value V.I. Fund17									BlackRock Advantage Large Cap Value V.I. Fund, Class III
						BNY Mellon Variable Investment Fund
BNY Mellon Appreciation									BNY Mellon VIF Appreciation Portfolio — Initial Shares
						BNY Mellon Investment Portfolios
BNY Mellon MidCap Stock									BNY Mellon IP MidCap Stock Portfolio — Initial Shares
BNY Mellon Technology Growth									BNY Mellon IP Technology Growth Portfolio — Initial Shares
						BNY Mellon Stock Index Fund, Inc.
BNY Mellon Stock Index									BNY Mellon Stock Index Fund, Inc. — Service Shares
						BNY Mellon Sustainable U.S. Equity Portfolio, Inc.
BNY Mellon Sustainable U.S. Equity13									BNY Mellon Sustainable U.S. Equity Portfolio Inc. — Initial Shares
						Calvert Variable Series, Inc.
Calvert SRI Balanced									Calvert VP SRI Balanced Portfolio
CVT EAFE International Index Class F8									CVT EAFE International Index Portfolio Class F
CVT Investment Grade Bond Index Class I9									CVT Investment Grade Bond Index Portfolio Class I
CVT Nasdaq-100 Index Class I10									CVT Nasdaq-100 Index Portfolio Class I
CVT Russell 2000 Small Cap Index Class F11									CVT Russell 2000 Small Cap Index Portfolio Class F
CVT S&P MidCap 400 Index Class F12									CVT S&P MidCap 400 Index Portfolio Class F
						Columbia Funds Variable Insurance Trust
Columbia VP Select Mid Cap Value Fund - Class 118									Columbia VP Select Mid Cap Value Fund — Class 1
						DWS Variable Series I and II
DWS Capital Growth VIP B14									DWS Capital Growth VIP — Class B Shares
DWS CROCI International VIP - Class A									DWS CROCI International VIP — Class A Shares
DWS Global Income Builder VIP A									DWS Global Income Builder VIP — Class A Shares
DWS Global Small Cap VIP B15									DWS Global Small Cap VIP — Class B Shares
DWS International Growth VIP B Share16									DWS International Growth VIP — Class B Shares
DWS Small Cap Index A Share									DWS Small Cap Index VIP — Class A Shares

27

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Symetra Separate Account C
Notes to Financial Statements
1.			ORGANIZATION (continued)

Sub-Account						Mutual Fund
						Federated Insurance Series
Federated Hermes High Income Bond									Federated Hermes High Income Bond Fund II
Federated Hermes Managed Volatility II									Federated Hermes Managed Volatility Fund II
						Fidelity Variable Insurance Products Fund 1 (VIP)
Fidelity Asset Manager									VIP Asset Manager Portfolio — Initial Class
Fidelity Contrafund									VIP Contrafund® Portfolio — Initial Class
Fidelity Contrafund II18									VIP Contrafund® Portfolio — Service Class 2
Fidelity Equity-Income									VIP Equity-Income Portfolio — Initial Class
Fidelity Freedom Funds 2010 II									VIP Freedom Funds 2010 Portfolio — Service Class 2
Fidelity Freedom Funds 2015 II									VIP Freedom Funds 2015 Portfolio — Service Class 2
Fidelity Freedom Funds 2020 II									VIP Freedom Funds 2020 Portfolio — Service Class 2
Fidelity Freedom Funds 2025 II									VIP Freedom Funds 2025 Portfolio — Service Class 2
Fidelity Freedom Funds 2030 II									VIP Freedom Funds 2030 Portfolio — Service Class 2
Fidelity Freedom Funds 2050 II									VIP Freedom Funds 2050 Portfolio — Service Class 2
Fidelity Freedom Income Fund II									VIP Freedom Income Portfolio — Service Class 2
Fidelity Government Money Market Portfolio - Initial Class									VIP Government Money Market Portfolio — Initial Class
Fidelity Government Money Market Portfolio - Service Class II									VIP Government Money Market Portfolio — Service Class II
Fidelity Growth									VIP Growth Portfolio — Initial Class
Fidelity Growth & Income									VIP Growth & Income Portfolio — Initial Class
Fidelity Growth Opportunities									VIP Growth Opportunities Portfolio — Initial Class
Fidelity Index 500									VIP Index 500 Portfolio — Initial Class
Fidelity Mid Cap II									VIP Mid Cap Portfolio — Service Class II
Fidelity Overseas II									VIP Overseas Portfolio — Service Class 2
						Franklin Templeton Variable Insurance Products Trust
Franklin Allocation VIP Fund - Class 2									Franklin Allocation VIP Fund - Class 2
Franklin DynaTech VIP Fund - Class 2									Franklin DynaTech VIP Fund - Class 2
Franklin Income VIP Fund - Class 2									Franklin Income VIP Fund - Class 2
Franklin Mutual Shares VIP Fund - Class 2									Franklin Mutual shares VIP Fund - Class 2
Franklin Small Cap Value VIP Fund - Class 2									Franklin Small Cap Value VIP Fund - Class 2
Franklin Small-Mid Cap Growth VIP Fund - Class 2									Franklin Small-Mid Cap Growth VIP Fund - Class 2
Franklin U.S. Government Securities VIP Fund - Class 2									Franklin U.S. Government Securities VIP Fund - Class 2
						AIM Variable Insurance Funds, Inc (Invesco Variable Insurance Funds)
Invesco American Franchise Fund I									Invesco V.I. American Franchise Fund - Series I
Invesco American Franchise Fund II13									Invesco V.I. American Franchise Fund - Series II
Invesco Discovery Mid Cap Growth Fund I									Invesco V.I. Discovery Mid Cap Growth Fund - Series I
Invesco Discovery Mid Cap Growth Fund II									Invesco V.I. Discovery Mid Cap Growth Fund - Series II
Invesco EQV International Equity I									Invesco V.I. EQV International Equity Fund - Series I
Invesco EQV International Equity II									Invesco V.I. EQV International Equity Fund - Series II
Invesco Global Real Estate									Invesco V.I. Global Real Estate Fund - Series I

28

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Symetra Separate Account C
Notes to Financial Statements
1.			ORGANIZATION (continued)

Sub-Account						Mutual Fund
Invesco Health Care									Invesco V.I. Health Care Fund - Series I
Invesco Small Cap Equity II									Invesco V.I. Small Cap Equity Fund - Series II
						Lincoln Investment Advisors
LVIP American Century Balanced Fund Standard Class II1									LVIP American Century Balanced Fund Standard Class II
LVIP American Century Inflation Protection Fund Service2									LVIP American Century Inflation Protection Fund Service Class
LVIP American Century International Fund Standard Class II3									LVIP American Century International Fund Standard Class II
LVIP American Century Large Company Value Fund Service4									LVIP American Century Large Company Value Fund Service Class
LVIP American Century Ultra Fund Service Class6									LVIP American Century Ultra Fund Service Class
LVIP American Century Ultra Fund Standard Class II5									LVIP American Century Ultra Fund Standard Class II
LVIP American Century Value Fund Standard Class II7,13									LVIP American Century Value Fund Standard Class II
LVIP JPMorgan Mid Cap Value Fund - Standard Class									LVIP JPMorgan Mid Cap Value Fund - Standard Class
LVIP JPMorgan U.S. Equity Fund - Standard Class									LVIP JPMorgan U.S. Equity Fund - Standard Class
						ALPS Variable Investment Trust
Morningstar Aggressive Growth ETF Asset Allocation Class I									Morningstar Aggressive Growth ETF Asset Allocation Portfolio — Class I
Morningstar Aggressive Growth ETF Asset Allocation Class II									Morningstar Aggressive Growth ETF Asset Allocation Portfolio — Class II
Morningstar Balanced ETF Asset Allocation Class I									Morningstar Balanced ETF Asset Allocation Portfolio — Class I
Morningstar Balanced ETF Asset Allocation Class II									Morningstar Balanced ETF Asset Allocation Portfolio — Class II
Morningstar Conservative ETF Asset Allocation Class I									Morningstar Conservative ETF Asset Allocation Portfolio — Class I
Morningstar Conservative ETF Asset Allocation Class II									Morningstar Conservative ETF Asset Allocation Portfolio — Class II
Morningstar Growth ETF Asset Allocation Class I									Morningstar Growth ETF Asset Allocation Portfolio — Class I
Morningstar Growth ETF Asset Allocation Class II									Morningstar Growth ETF Asset Allocation Portfolio — Class II
Morningstar Income & Growth ETF Asset Allocation Class I									Morningstar Income & Growth ETF Asset Allocation Portfolio — Class I
Morningstar Income & Growth ETF Asset Allocation Class II									Morningstar Income & Growth ETF Asset Allocation Portfolio — Class II
						Neuberger Berman Advisers Management Trust
Neuberger Berman AMT Mid Cap Growth Class S									Neuberger Berman AMT Mid Cap Growth Portfolio — Class S
Neuberger Berman AMT Mid Cap Intrinsic Value Class S									Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio — Class S
Neuberger Berman AMT Sustainable Equity Class S									Neuberger Berman AMT Sustainable Equity Portfolio — Class S
						PIMCO Variable Insurance Trust
PIMCO All Asset Portfolio Advisor13									PIMCO All Asset Portfolio — Advisor Class Shares
PIMCO CommodityRealReturn Strat.									PIMCO CommodityRealReturn® Strategy Portfolio —
Administrative Class									Administrative Class Shares
PIMCO Total Return Portfolio Advisor									PIMCO Total Return Portfolio — Advisor Class Shares

29

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Symetra Separate Account C
Notes to Financial Statements
1.			ORGANIZATION (continued)

Sub-Account						Mutual Fund
						Pioneer Variable Contracts Trust
Pioneer Bond VCT Class I									Pioneer Bond VCT Portfolio — Class I
Pioneer Equity Income VCT Class II									Pioneer Equity Income VCT Portfolio — Class II
Pioneer Fund VCT Class I									Pioneer Fund VCT Portfolio — Class I
Pioneer High Yield VCT Class II									Pioneer High Yield VCT Portfolio — Class II
Pioneer Mid Cap Value VCT Class I									Pioneer Mid Cap Value VCT Portfolio — Class I
Pioneer Select Mid Cap Growth VCT Class I									Pioneer Select Mid Cap Growth VCT Portfolio — Class I
Pioneer Strategic Income VCT Class II									Pioneer Strategic Income VCT Portfolio — Class II
						Franklin Templeton Variable Insurance Products Trust
Templeton Developing Markets VIP Fund - Class 2									Templeton Developing Markets VIP Fund - Class 2
Templeton Global Bond VIP Fund - Class 2									Templeton Global Bond VIP Fund - Class 2
Templeton Growth VIP Fund - Class 2									Templeton Growth VIP Fund - Class 2
						Vanguard Variable Insurance Fund Portfolios
Vanguard Balanced									Vanguard VIF — Balanced Portfolio
Vanguard High Yield Bond									Vanguard VIF — High Yield Bond Portfolio
Vanguard International									Vanguard VIF — International Portfolio
Vanguard Mid-Cap Index									Vanguard VIF — Mid-Cap Index Portfolio
Vanguard Real Estate Index									Vanguard VIF — Real Estate Index Portfolio
Vanguard Total Bond Market Index									Vanguard VIF — Total Bond Market Index Portfolio
Vanguard Total Stock Market Index									Vanguard VIF — Total Stock Market Index Portfolio
						Voya VP Natural Resource Trust
Voya Global High Dividend Low Volatility Portfolio - Class S									Voya Global High Dividend Low Volatility Portfolio - Class S
						Voya Investors Trust
VY JPMorgan Emerging Markets Equity Portfolio Initial									VY JPMorgan Emerging Markets Equity Portfolio Class I
						Wanger Advisors Trust
Wanger Acorn									Wanger Acorn

1 LVIP American Century Balanced Fund Standard Class II was formally known as American Century Balanced prior to April 26, 2024.

2 LVIP American Century Inflation Protection Fund Service was formally known as American Century Inflation Protection II prior to April 26, 2024.     

3 LVIP American Century International Fund Standard Class II was formally known as American Century International prior to April 26, 2024.

4 LVIP American Century Large Company Value Fund Service was formally known as American Century Large Company Value II prior to April 26, 2024.

5 LVIP American Century Ultra Fund Standard Class II was formally known as American Century Ultra I prior to April 26, 2024.

6 LVIP American Century Ultra Fund Service Class was formally known as American Century Ultra II prior to April 26, 2024.

7 LVIP American Century Value Fund Standard Class II was formally known as American Century Value prior to April 26, 2024.

8 CVT EAFE International Index Class F was formally known as Calvert EAFE International Index F Class prior to May 1, 2024.

9 CVT EAFE Investment Grade Bond Index Class I was formally known as Calvert Investment Grade Bond Index prior to May 1, 2024.

10 CVT Nasdaq-100 Index Class I was formally known as Calvert Nasdaq 100 Index prior to May 1, 2024.

11 CVT Russell 2000 Small Cap Index Class F was formally known as Calvert Russell 2000 Small Cap Index F Class prior to May 1, 2024.

12 CVT S&P MidCap 400 Index Class F was formally known as Calvert S&P MidCap 400 Index F Class prior to May 1, 2024.

13 Effective May 1, 2024 the Sub-account was no longer available in the Spinnaker Choice product.

14 Effective June 17, 2024 DWS Capital Growth VIP B was liquidated and no longer available for sale.

15 Effective June 17, 2024 DWS Global Small Cap VIP B was liquidated and no longer available for sale.

16 Effective June 17, 2024 DWS International Growth VIP B Share was liquidated and no longer available for sale.

17 There was no activity in the current year and the prior year and no net asset balance to report on the Statements of Assets and Liabilities as of December 31, 2024.

18 There was activity in the prior year and no activity in the current year and no net asset balance to report on the Statements of Assets and Liabilities as of

December 31, 2024.

                                   

30

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Symetra Separate Account C
Notes to Financial Statements

2.SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION AND USE OF ESTIMATES — The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including the rules and regulations of the Securities and Exchange Commission (SEC).

INVESTMENT VALUATION — Investments in portfolio shares are valued at fair value based on the net asset value (NAV) as reported by the underlying Mutual Fund on the last trading day of the year.

The Separate Account determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize its use of observable inputs and minimize the use of unobservable inputs when measuring fair value. This fair value hierarchy prioritizes fair value measurements into the three levels based on the nature of the inputs. Quoted prices in active markets for identical assets or liabilities have the highest priority ("Level 1"), followed by significant observable inputs other than quoted market prices, including prices for similar but not identical assets or liabilities ("Level 2") and significant unobservable inputs, including the reporting entity's estimates of the assumptions that market participants would use, having the lowest priority ("Level 3").

The availability of observable market information is the principal factor in determining the level to which the Separate Account's investments are assigned in the fair value hierarchy. As such, all Separate Account investments have been classified as Level 1 in the fair value hierarchy.

INVESTMENT TRANSACTIONS — Investment transactions are recorded on the trade date. Realized gains and losses on investment transactions are determined using the first-in-first-out (FIFO) method.

INCOME RECOGNITION — Dividend income and realized capital gain distributions are recorded on the ex-dividend date.

DISTRIBUTIONS — The net investment income and realized capital gains of the Separate Account are not distributed, but are retained and reinvested for the benefit of unit owners.

FEDERAL INCOME TAX — Operations of the Separate Account are included in the federal income tax return of Symetra Life, which is taxed as a "Life Insurance Company" under the provisions of the Internal Revenue Code. Under current federal income tax law, no income taxes are payable with respect to the operations of the Separate Account to the extent the earnings are reinvested.

SEGMENT INFORMATION — In this reporting period, the Separate Account adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”). Adoption of the new standard impacted financial statement disclosures only and did not affect the financial position or the results of operations for the sub-accounts of the Separate Account. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available.

The Separate Account has identified the senior vice president of retirement products as the CODM. The Separate Account is comprised of multiple sub-accounts, each which constitute a single operating segment.

The financial information, in the form of the sub-accounts’ holdings, including investment returns, asset allocations, fees, purchases, redemptions, as well as investment objectives, investment advisor and fund manager designations of each sub-account, are used by the CODM to assess the sub-accounts’ availability and performance by comparing the underlying mutual funds’ performance to their respective benchmark and to make resource allocation decisions for each sub-account’s single segment, which is consistent with that presented within the sub-accounts’ financial statements. Sub-accounts’ holdings are reflected on the accompanying Statements of Assets and Liabilities as "net assets" and significant fund expenses are listed on the accompanying Statements of Operations and Changes in Net Assets.

3.     EXPENSES AND RELATED PARTY TRANSACTIONS

Symetra Life assumes mortality and expense ("M&E") risks and incurs asset-related administrative expenses related to the operations of the Separate Account. Optional benefit charges may be elected for a guaranteed minimum death benefit ("GMDB") and an earnings enhancement benefit ("EEB") for certain products. Symetra Life deducts a daily charge from the assets of the Separate Account to cover these expenses. These charges are included in net investment income (loss) in the accompanying Statements of Operations and Changes in Net Assets. Symetra Life also deducts annual contract maintenance charges which are reflected as a contract maintenance charge in the accompanying Statements of Operations and Changes in Net Assets. The table below describes the maximum charges for the fees and expenses charged by product.

31

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Symetra Separate Account C
Notes to Financial Statements

3.    EXPENSES AND RELATED PARTY TRANSACTIONS (continued)

Annual Periodic Charges						Mortality and expense risk1						Asset-related administrative1						Optional (GMDB)1						Optional (EEB)1						Contract Maintenance
Spinnaker & Mainsail						1.25%						0.15%						0.20%						0.15%						$30
Spinnaker Advisor						1.25%						0.20%						Not Available						Not Available						$30
Spinnaker Choice						1.40%						0.15%						0.20%						0.15%						No Charge
Focus						0.95%						0.40%						0.10%						Not Available						$40
Retirement Passport						1.25%						No Charge						Not Available						Not Available						$30
Retirement Passport — Calvert sub accounts						1.25%						0.10%						Not Available						Not Available						$30
Retirement Passport — Vanguard sub accounts						1.25%						0.25%						Not Available						Not Available						$30

1 As a percentage of average daily net assets of each sub-account deducted daily.

A withdrawal charge of $25 or 2.00 percent of the withdrawal amount, whichever is less, may be imposed on the owner of the policy for the second and each subsequent withdrawal in any one year. A transfer charge of $10 or 2.00 percent of the amount transferred, whichever is less, may be imposed on transfers that exceed the number of free transfers allowed each year. These charges are reflected as contract maintenance charges in the accompanying Statements of Operations and Changes in Net Assets. A surrender charge may be applicable in the first eight years on withdrawals that exceed the free withdrawal amount. The surrender charge is reflected as transfers out in the accompanying Statements of Operations and Changes in Net Assets. These charges do not apply to all products and may vary by contract year and other factors as described in the product prospectuses.

The Retirement Passport product may allow the owner of the policy to take a loan against their account value. A loan application charge of $50 or 2.50 percent of the loan amount, whichever is less, will be deducted from the sub-account with the highest balance at the time the loan is approved. An annual loan maintenance charge of $35 or 2.50 percent of the loan amount, whichever is less, will be deducted from the sub-account with the highest balance. These charges are reflected as transfers out in the accompanying Statements of Operations and Changes in Net Assets.

4.INVESTMENT TRANSACTIONS

The following table summarizes investment purchases and proceeds from sales activity by sub-account for the year ended December 31, 2024.    

Sub-Account			Purchases			Proceeds From Sales
BNY Mellon Appreciation			$	291,533		$	406,231
BNY Mellon MidCap Stock			156,529			710,258
BNY Mellon Stock Index			747,629			1,092,066
BNY Mellon Sustainable U.S. Equity1			62,942			363,315
BNY Mellon Technology Growth			8,180			494,428
Calvert SRI Balanced			16,900			57,492
CVT EAFE International Index Class F1			26,627			26,151
CVT Investment Grade Bond Index Class I1			101,126			262,936
CVT Nasdaq-100 Index Class I1			410,628			505,064
CVT Russell 2000 Small Cap Index Class F1			57,503			74,262
CVT S&P MidCap 400 Index Class F1			52,518			78,168
DWS Capital Growth VIP B1			139,572			1,227,273
DWS CROCI International VIP - Class A			46,852			249,981
DWS Global Income Builder VIP A			204,468			618,992
DWS Global Small Cap VIP B1			2,721			88,329
DWS International Growth VIP B Share1			649			22,008
DWS Small Cap Index A Share			5,984			2,688
Federated Hermes High Income Bond			46,969			96,481
Federated Hermes Managed Volatility II			10,003			78,052

32

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Symetra Separate Account C
Notes to Financial Statements
4.			INVESTMENT TRANSACTIONS (continued)

Sub-Account			Purchases			Proceeds From Sales
Fidelity Asset Manager			$	2,884		$	25,096
Fidelity Contrafund			3,889,801			4,888,099
Fidelity Equity-Income			371,987			512,376
Fidelity Freedom Funds 2010 II			16,270			12,529
Fidelity Freedom Funds 2015 II			5,773			5,399
Fidelity Freedom Funds 2020 II			76,311			30,878
Fidelity Freedom Funds 2025 II			65,223			15,556
Fidelity Freedom Funds 2030 II			54,948			122,251
Fidelity Freedom Funds 2050 II			924			393
Fidelity Freedom Income Fund II			3,372			13,059
Fidelity Government Money Market Portfolio - Initial Class			4,635			12,165
Fidelity Government Money Market Portfolio - Service Class II			1,567,117			1,339,030
Fidelity Growth			3,602,345			1,845,671
Fidelity Growth & Income			460,455			614,561
Fidelity Growth Opportunities			4,245			1,038,497
Fidelity Index 500			18,350			43,326
Fidelity Mid Cap II			479,439			748,904
Fidelity Overseas II			44,528			43,839
Franklin Allocation VIP Fund - Class 2			11,562			34,286
Franklin DynaTech VIP Fund - Class 2			25,125			366,560
Franklin Income VIP Fund - Class 2			204,934			236,487
Franklin Mutual Shares VIP Fund - Class 2			130,471			421,631
Franklin Small Cap Value VIP Fund - Class 2			143,224			911,451
Franklin Small-Mid Cap Growth VIP Fund - Class 2			11,173			563,781
Franklin U.S. Government Securities VIP Fund - Class 2			173,055			511,914
Invesco American Franchise Fund I			3,523			878,936
Invesco American Franchise Fund II1			10,008			188,484
Invesco Discovery Mid Cap Growth Fund I			—			9,262
Invesco Discovery Mid Cap Growth Fund II			32,534			23,262
Invesco EQV International Equity I			18,200			43,597
Invesco EQV International Equity II			92,458			790,139
Invesco Global Real Estate			56,345			286,972
Invesco Health Care			3,764			19,427
Invesco Small Cap Equity II			14,630			63,445
LVIP American Century Balanced Fund Standard Class II1			156,371			846,565
LVIP American Century Inflation Protection Fund Service1			119,353			301,857
LVIP American Century International Fund Standard Class II1			88,609			490,702
LVIP American Century Large Company Value Fund Service1			26,704			25,338
LVIP American Century Ultra Fund Service Class1			49,869			131,738
LVIP American Century Ultra Fund Standard Class II1			38,167			85,568
LVIP American Century Value Fund Standard Class II1			207,594			446,928
LVIP JPMorgan Mid Cap Value Fund - Standard Class			723,854			633,237
LVIP JPMorgan U.S. Equity Fund - Standard Class			131,623			216,457
Morningstar Aggressive Growth ETF Asset Allocation Class I			4,845			2,198
Morningstar Aggressive Growth ETF Asset Allocation Class II			46,816			205,421
Morningstar Balanced ETF Asset Allocation Class I			11,332			378,662
Morningstar Balanced ETF Asset Allocation Class II			107,887			283,577

33

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Symetra Separate Account C
Notes to Financial Statements
4.			INVESTMENT TRANSACTIONS (continued)

Sub-Account			Purchases			Proceeds From Sales
Morningstar Conservative ETF Asset Allocation Class I			$	18,129		$	124,722
Morningstar Conservative ETF Asset Allocation Class II			47,179			16,325
Morningstar Growth ETF Asset Allocation Class I			3,978			1,446
Morningstar Growth ETF Asset Allocation Class II			82,933			43,513
Morningstar Income & Growth ETF Asset Allocation Class I			2,018			12,569
Morningstar Income & Growth ETF Asset Allocation Class II			57,324			13,245
Neuberger Berman AMT Mid Cap Growth Class S			27,779			55,627
Neuberger Berman AMT Mid Cap Intrinsic Value Class S			4,195			517
Neuberger Berman AMT Sustainable Equity Class S			11,265			17,448
PIMCO All Asset Portfolio Advisor1			15,426			39,726
PIMCO CommodityRealReturn Strat. Administrative Class			52,799			116,328
PIMCO Total Return Portfolio Advisor			55,954			380,744
Pioneer Bond VCT Class I			72,264			137,556
Pioneer Equity Income VCT Class II			689,476			980,035
Pioneer Fund VCT Class I			2,497,581			5,027,524
Pioneer High Yield VCT Class II			73,477			99,416
Pioneer Mid Cap Value VCT Class I			390,063			829,887
Pioneer Select Mid Cap Growth VCT Class I			8,474			5,273,388
Pioneer Strategic Income VCT Class II			198,126			490,410
Templeton Developing Markets VIP Fund - Class 2			59,884			211,947
Templeton Global Bond VIP Fund - Class 2			51,044			330,908
Templeton Growth VIP Fund - Class 2			60,052			353,851
Vanguard Balanced			38,117			43,690
Vanguard High Yield Bond			233,550			15,229
Vanguard International			105,897			78,501
Vanguard Mid-Cap Index			21,999			39,983
Vanguard Real Estate Index			17,425			16,932
Vanguard Total Bond Market Index			247,679			33,975
Vanguard Total Stock Market Index			738,648			663,330
Voya Global High Dividend Low Volatility Portfolio - Class S			23,548			46,246
VY JPMorgan Emerging Markets Equity Portfolio Initial			8,687			120,591
Wanger Acorn			—			15,931

    1 Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

5.    CHANGES IN ACCUMULATION UNITS OUTSTANDING

The changes in Units outstanding for the years or periods ended December 31, 2024, and 2023 were as follows:

			2024												2023
Sub-Account			Units Issued			Units Redeemed			Increase (Decrease) in Units2						Units Issued			Units Redeemed			Increase (Decrease) in Units2
BNY Mellon Appreciation			1,040			(9,343)			(8,303)						1,000			(11,031)			(10,031)
BNY Mellon MidCap Stock			1,695			(16,669)			(14,974)						1,445			(15,998)			(14,553)
BNY Mellon Stock Index			2,238			(17,297)			(15,059)						2,409			(19,907)			(17,498)
BNY Mellon Sustainable U.S. Equity1			2,321			(13,377)			(11,056)						1,643			(12,735)			(11,092)

34

---

Symetra Separate Account C
Notes to Financial Statements
5.			CHANGES IN ACCUMULATION UNITS OUTSTANDING (Continued)

			2024												2023
Sub-Account			Units Issued			Units Redeemed			Increase (Decrease) in Units2						Units Issued			Units Redeemed			Increase (Decrease) in Units2
BNY Mellon Technology Growth			818			(20,063)			(19,245)						1,397			(10,958)			(9,561)
Calvert SRI Balanced			233			(2,065)			(1,832)						1,386			(1,912)			(526)
Columbia VP Select Mid Cap Value Fund - Class 11			—			—			—						—			(205)			(205)
CVT EAFE International Index Class F1			1,493			(1,805)			(312)						14,020			(1,924)			12,096
CVT Investment Grade Bond Index Class I1			4,816			(20,584)			(15,768)						53,493			(31,318)			22,175
CVT Nasdaq-100 Index Class I1			2,793			(5,700)			(2,907)						1,347			(15,379)			(14,032)
CVT Russell 2000 Small Cap Index Class F1			1,369			(2,570)			(1,201)						992			(565)			427
CVT S&P MidCap 400 Index Class F1			511			(2,110)			(1,599)						967			(3,922)			(2,955)
DWS Capital Growth VIP B1			1,204			(25,584)			(24,380)						702			(7,969)			(7,267)
DWS CROCI International VIP - Class A			498			(11,348)			(10,850)						159			(5,457)			(5,298)
DWS Global Income Builder VIP A			847			(13,245)			(12,398)						5,574			(14,030)			(8,456)
DWS Global Small Cap VIP B1			27			(5,514)			(5,487)						381			(508)			(127)
DWS International Growth VIP B Share1			37			(1,590)			(1,553)						83			(1)			82
DWS Small Cap Index A Share			—			(25)			(25)						665			(1,476)			(811)
Federated Hermes High Income Bond			246			(2,714)			(2,468)						215			(10,262)			(10,047)
Federated Hermes Managed Volatility II			54			(2,267)			(2,213)						102			(661)			(559)
Fidelity Asset Manager			13			(901)			(888)						14			(13)			1
Fidelity Contrafund			7,479			(56,632)			(49,153)						6,531			(37,900)			(31,369)
Fidelity Contrafund II1			—			—			—						—			(213)			(213)
Fidelity Equity-Income			2,693			(10,801)			(8,108)						2,967			(14,330)			(11,363)
Fidelity Freedom Funds 2010 II			—			(351)			(351)						6			(9,526)			(9,520)
Fidelity Freedom Funds 2015 II			—			(231)			(231)						—			(2,097)			(2,097)
Fidelity Freedom Funds 2020 II			3,033			(1,480)			1,553						1,487			(16,889)			(15,402)
Fidelity Freedom Funds 2025 II			2,182			(290)			1,892						460			(4,032)			(3,572)
Fidelity Freedom Funds 2030 II			1,401			(4,929)			(3,528)						4,344			(6,184)			(1,840)
Fidelity Freedom Income Fund II			1			(863)			(862)						1			(508)			(507)
Fidelity Government Money Market Portfolio - Initial Class			27			(1,101)			(1,074)						12,817			(6,374)			6,443
Fidelity Government Money Market Portfolio - Service Class II			137,850			(134,903)			2,947						189,409			(102,207)			87,202
Fidelity Growth			2,350			(38,639)			(36,289)						3,101			(45,812)			(42,711)
Fidelity Growth & Income			2,094			(14,426)			(12,332)						2,226			(10,144)			(7,918)
Fidelity Growth Opportunities			217			(15,104)			(14,887)						380			(4,445)			(4,065)
Fidelity Index 500			1			(635)			(634)						—			(2,392)			(2,392)
Fidelity Mid Cap II			468			(16,557)			(16,089)						1,142			(7,163)			(6,021)
Fidelity Overseas II			2,386			(2,784)			(398)						583			(203)			380
Franklin Allocation VIP Fund - Class 2			392			(1,739)			(1,347)						453			(5,163)			(4,710)
Franklin DynaTech VIP Fund - Class 2			565			(7,990)			(7,425)						124			(218)			(94)
Franklin Income VIP Fund - Class 2			2,828			(9,030)			(6,202)						3,335			(14,344)			(11,009)
Franklin Mutual Shares VIP Fund - Class 2			1,136			(14,280)			(13,144)						1,516			(14,855)			(13,339)
Franklin Small Cap Value VIP Fund - Class 2			1,837			(25,122)			(23,285)						3,304			(15,988)			(12,684)
Franklin Small-Mid Cap Growth VIP Fund - Class 2			1,191			(19,649)			(18,458)						2,373			(14,493)			(12,120)
Franklin U.S. Government Securities VIP Fund - Class 2			7,960			(34,622)			(26,662)						9,433			(30,489)			(21,056)
Invesco American Franchise Fund I			782			(22,678)			(21,896)						1,468			(9,316)			(7,848)

35

---

Symetra Separate Account C
Notes to Financial Statements
5.			CHANGES IN ACCUMULATION UNITS OUTSTANDING (Continued)

			2024												2023
Sub-Account			Units Issued			Units Redeemed			Increase (Decrease) in Units2						Units Issued			Units Redeemed			Increase (Decrease) in Units2
Invesco American Franchise Fund II1			341			(4,386)			(4,045)						1,079			(6,159)			(5,080)
Invesco Discovery Mid Cap Growth Fund I			—			(143)			(143)						—			(164)			(164)
Invesco Discovery Mid Cap Growth Fund II			1,247			(723)			524						1,148			(863)			285
Invesco EQV International Equity I			274			(1,016)			(742)						262			(3,180)			(2,918)
Invesco EQV International Equity II			4,375			(42,696)			(38,321)						8,963			(39,181)			(30,218)
Invesco Global Real Estate			918			(8,201)			(7,283)						1,170			(4,357)			(3,187)
Invesco Health Care			87			(366)			(279)						59			(179)			(120)
Invesco Small Cap Equity II			129			(2,134)			(2,005)						394			(910)			(516)
LVIP American Century Balanced Fund Standard Class II1			2,294			(26,017)			(23,723)						4,105			(39,774)			(35,669)
LVIP American Century Inflation Protection Fund Service1			7,016			(23,416)			(16,400)						7,388			(31,596)			(24,208)
LVIP American Century International Fund Standard Class II1			3,001			(25,945)			(22,944)						4,483			(23,255)			(18,772)
LVIP American Century Large Company Value Fund Service1			407			(814)			(407)						549			(2,086)			(1,537)
LVIP American Century Ultra Fund Service Class1			258			(2,086)			(1,828)						981			(3,250)			(2,269)
LVIP American Century Ultra Fund Standard Class II1			33			(1,098)			(1,065)						54			(1,019)			(965)
LVIP American Century Value Fund Standard Class II1			859			(10,594)			(9,735)						1,392			(6,409)			(5,017)
LVIP JPMorgan Mid Cap Value Fund - Standard Class			991			(10,305)			(9,314)						1,457			(8,142)			(6,685)
LVIP JPMorgan U.S. Equity Fund - Standard Class			124			(4,407)			(4,283)						169			(2,425)			(2,256)
Morningstar Aggressive Growth ETF Asset Allocation Class I			—			(2)			(2)						—			(293)			(293)
Morningstar Aggressive Growth ETF Asset Allocation Class II			1,024			(9,152)			(8,128)						1,082			(12,212)			(11,130)
Morningstar Balanced ETF Asset Allocation Class I			58			(21,674)			(21,616)						26			(32)			(6)
Morningstar Balanced ETF Asset Allocation Class II			3,089			(15,350)			(12,261)						2,262			(27,453)			(25,191)
Morningstar Conservative ETF Asset Allocation Class I			13			(8,512)			(8,499)						2,451			(2,728)			(277)
Morningstar Conservative ETF Asset Allocation Class II			3,530			(1,234)			2,296						1,114			(4,318)			(3,204)
Morningstar Growth ETF Asset Allocation Class I			—			—			—						—			(87)			(87)
Morningstar Growth ETF Asset Allocation Class II			852			(1,101)			(249)						1,417			(19,396)			(17,979)
Morningstar Income & Growth ETF Asset Allocation Class I			—			(754)			(754)						—			(979)			(979)
Morningstar Income & Growth ETF Asset Allocation Class II			2,817			(511)			2,306						879			(816)			63
Neuberger Berman AMT Mid Cap Growth Class S			171			(1,590)			(1,419)						674			(645)			29
Neuberger Berman AMT Mid Cap Intrinsic Value Class S			164			(16)			148						156			(490)			(334)
Neuberger Berman AMT Sustainable Equity Class S			134			(466)			(332)						107			(9)			98
PIMCO All Asset Portfolio Advisor1			157			(2,025)			(1,868)						433			(1,159)			(726)
PIMCO CommodityRealReturn Strat. Administrative Class			7,232			(15,934)			(8,702)						12,016			(20,324)			(8,308)
PIMCO Total Return Portfolio Advisor			4,041			(31,919)			(27,878)						12,625			(86,789)			(74,164)
Pioneer Bond VCT Class I			434			(3,193)			(2,759)						639			(3,426)			(2,787)
Pioneer Equity Income VCT Class II			3,486			(29,206)			(25,720)						2,702			(22,411)			(19,709)

36

---

Symetra Separate Account C
Notes to Financial Statements
5.			CHANGES IN ACCUMULATION UNITS OUTSTANDING (Continued)

			2024												2023
Sub-Account			Units Issued			Units Redeemed			Increase (Decrease) in Units2						Units Issued			Units Redeemed			Increase (Decrease) in Units2
Pioneer Fund VCT Class I			642			(18,910)			(18,268)						901			(17,600)			(16,699)
Pioneer High Yield VCT Class II			2,720			(5,216)			(2,496)						1,301			(24,403)			(23,102)
Pioneer Mid Cap Value VCT Class I			704			(12,228)			(11,524)						1,023			(11,951)			(10,928)
Pioneer Select Mid Cap Growth VCT Class I			850			(30,311)			(29,461)						1,094			(17,177)			(16,083)
Pioneer Strategic Income VCT Class II			8,981			(29,577)			(20,596)						6,021			(42,977)			(36,956)
Templeton Developing Markets VIP Fund - Class 2			834			(8,003)			(7,169)						1,091			(4,714)			(3,623)
Templeton Global Bond VIP Fund - Class 2			5,186			(23,458)			(18,272)						4,637			(17,561)			(12,924)
Templeton Growth VIP Fund - Class 2			2,385			(16,001)			(13,616)						2,498			(15,021)			(12,523)
Vanguard Balanced			628			(1,368)			(740)						—			(407)			(407)
Vanguard High Yield Bond			10,475			(385)			10,090						18,290			(5,278)			13,012
Vanguard International			3,223			(3,218)			5						3,940			(9,458)			(5,518)
Vanguard Mid-Cap Index			55			(945)			(890)						1,212			(3,355)			(2,143)
Vanguard Real Estate Index			247			(788)			(541)						957			(1,069)			(112)
Vanguard Total Bond Market Index			19,257			(1,497)			17,760						61,011			(18,502)			42,509
Vanguard Total Stock Market Index			12,988			(15,198)			(2,210)						8,434			(19,678)			(11,244)
Voya Global High Dividend Low Volatility Portfolio - Class S			14			(870)			(856)						384			(1,658)			(1,274)
VY JPMorgan Emerging Markets Equity Portfolio Initial			171			(3,595)			(3,424)						234			(1,023)			(789)
Wanger Acorn			—			(123)			(123)						165			(347)			(182)

    1  Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

2 Funds with no changes in units in either period were not included in the table above.

37

---

Symetra Separate Account C
Notes to Financial Statements

6.ACCUMULATION UNIT VALUES

The following table summarizes the Unit values and Units outstanding for sub-accounts of the Symetra Separate Account C, net investment income ratios and the expense ratios, excluding expenses of the underlying Mutual Funds, and total returns for each of the five years in the period ended December 31, 2024.

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
BNY Mellon Appreciation
			2024						$	41.221		to			$39.551						82,699			$	3,399,128					0.42		%				1.40		%	to			1.60		%				11.23		%	to			11.00		%
			2023						37.059			to			35.630						91,002			3,363,378						0.71						1.40			to			1.60						19.29			to			19.06
			2022						31.066			to			29.927						101,033			3,130,818						0.67						1.40			to			1.60						(19.20)			to			(19.36)
			2021						38.449			to			37.114						107,232			4,112,313						0.43						1.40			to			1.60						25.36			to			25.11
			2020						30.670			to			29.664						123,064			3,764,084						0.79						1.40			to			1.60						21.97			to			21.73
BNY Mellon MidCap Stock
			2024						42.279			to			40.566						130,095			5,421,189						0.84						1.40			to			1.60						11.04			to			10.82
			2023						38.075			to			36.606						145,069			5,447,782						0.81						1.40			to			1.60						16.67			to			16.44
			2022						32.634			to			31.438						159,622			5,134,671						0.74						1.40			to			1.60						(15.27)			to			(15.44)
			2021						38.515			to			37.178						176,077			6,675,148						0.64						1.40			to			1.60						24.13			to			23.89
			2020						31.027			to			30.010						205,588			6,268,108						0.85						1.40			to			1.60						6.60			to			6.39
BNY Mellon Stock Index
			2024						64.823			to			62.198						154,729			10,004,435						0.91						1.40			to			1.60						22.61			to			22.36
			2023						52.870			to			50.830						169,787			8,954,779						1.16						1.40			to			1.60						23.86			to			23.61
			2022						42.685			to			41.120						187,285			7,972,033						1.08						1.40			to			1.60						(19.65)			to			(19.82)
			2021						53.127			to			51.282						204,326			10,824,327						0.82						1.40			to			1.60						26.34			to			26.08
			2020						42.052			to			40.673						226,188			9,484,699						1.31						1.40			to			1.60						16.08			to			15.84
BNY Mellon Sustainable U.S. Equity1
			2024						29.175			to			27.225						85,615			2,493,209						0.56						1.40			to			1.45						23.14			to			23.08
			2023						23.692			to			22.119						96,671			2,286,423						0.75						1.40			to			1.45						22.10			to			22.04
			2022						19.403			to			18.124						107,763			2,088,333						0.53						1.40			to			1.45						(23.94)			to			(23.98)
			2021						25.511			to			23.841						117,072			2,985,431						0.76						1.40			to			1.45						25.23			to			25.17
			2020						20.371			to			19.047						129,185			2,630,663						1.18						1.40			to			1.45						22.41			to			22.35
BNY Mellon Technology Growth
			2024						26.382			to			23.726						119,801			3,138,349						—						1.40			to			1.45						23.99			to			23.92
			2023						21.278			to			19.146						139,046			2,931,320						—						1.40			to			1.45						57.21			to			57.14
			2022						13.535			to			12.184						148,607			1,993,752						—						1.40			to			1.45						(47.13)			to			(47.16)
			2021						25.601			to			23.059						164,454			4,155,363						—						1.40			to			1.45						11.36			to			11.30
			2020						22.990			to			20.717						206,399			4,632,904						0.26						1.40			to			1.45						67.57			to			67.48
Calvert SRI Balanced
			2024						27.880			to			27.649						12,812			357,161						1.64						1.40			to			1.45						17.94			to			17.88
			2023						23.639			to			23.455						14,643			346,128						1.61						1.40			to			1.45						15.20			to			15.14
			2022						20.520			to			20.370						15,169			311,252						1.23						1.40			to			1.45						(16.59)			to			(16.63)
			2021						24.601			to			24.433						14,745			362,705						1.10						1.40			to			1.45						13.52			to			13.46
			2020						21.671			to			21.535						23,654			512,584						1.54						1.40			to			1.45						13.66			to			13.61

38

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Columbia VP Select Mid Cap Value Fund - Class 11
			2024						$	40.133		to			$40.133						—			$	—					—		%				1.25		%	to			1.25		%				11.13		%	to			11.13		%
			2023						36.112			to			36.112						—			—						—						1.25			to			1.25						8.93			to			8.93
			2022						33.151			to			33.151						205			6,786						—						1.25			to			1.25						(10.56)			to			(10.56)
			2021						37.064			to			37.064						205			7,586						—						1.25			to			1.25						30.69			to			30.69
			2020						28.361			to			28.361						205			5,805						—						1.25			to			1.25						6.15			to			6.15
CVT EAFE International Index Class F1
			2024						11.517			to			11.421						29,495			337,449						2.69						1.40			to			1.45						1.51			to			1.46
			2023						11.346			to			11.257						29,807			336,039						3.43						1.40			to			1.45						15.91			to			15.84
			2022						9.789			to			9.718						17,711			172,621						3.27						1.40			to			1.45						(15.93)			to			(15.97)
			2021						11.644			to			11.565						21,411			248,475						1.47						1.40			to			1.45						9.12			to			9.06
			2020						10.671			to			10.604						27,607			293,447						3.42						1.40			to			1.45						6.06			to			6.01
CVT Investment Grade Bond Index Class I1
			2024						12.012			to			11.912						165,304			1,981,122						2.77						1.40			to			1.45						(0.38)			to			(0.43)
			2023						12.058			to			11.964						181,072			2,178,904						2.77						1.40			to			1.45						4.01			to			3.96
			2022						11.593			to			11.508						158,897			1,841,828						2.58						1.40			to			1.45						(13.74)			to			(13.78)
			2021						13.440			to			13.348						178,819			2,402,666						2.24						1.40			to			1.45						(3.18)			to			(3.23)
			2020						13.882			to			13.794						203,232			2,820,837						2.96						1.40			to			1.45						5.85			to			5.79
CVT Nasdaq-100 Index Class I1
			2024						93.530			to			92.754						34,836			3,255,655						0.32						1.40			to			1.45						23.46			to			23.39
			2023						75.760			to			75.169						37,743			2,856,481						0.32						1.40			to			1.45						52.26			to			52.19
			2022						49.756			to			49.393						51,774			2,574,332						0.18						1.40			to			1.45						(33.58)			to			(33.61)
			2021						74.911			to			74.401						55,138			4,127,912						0.27						1.40			to			1.45						25.11			to			25.05
			2020						59.876			to			59.498						64,930			3,885,296						0.42						1.40			to			1.45						46.17			to			46.10
CVT Russell 2000 Small Cap Index Class F1
			2024						27.795			to			27.564						27,822			770,891						1.25						1.40			to			1.45						9.45			to			9.40
			2023						25.395			to			25.196						29,023			735,046						0.90						1.40			to			1.45						14.75			to			14.68
			2022						22.131			to			21.970						28,596			631,352						0.76						1.40			to			1.45						(21.77)			to			(21.81)
			2021						28.289			to			28.097						34,335			969,336						0.77						1.40			to			1.45						12.71			to			12.66
			2020						25.098			to			24.940						34,645			868,196						1.07						1.40			to			1.45						17.74			to			17.69
CVT S&P MidCap 400 Index Class F1
			2024						34.359			to			34.074						20,335			695,929						1.17						1.40			to			1.45						11.71			to			11.66
			2023						30.757			to			30.517						21,934			672,400						1.16						1.40			to			1.45						14.28			to			14.23
			2022						26.913			to			26.716						24,889			668,111						0.90						1.40			to			1.45						(14.71)			to			(14.75)
			2021						31.554			to			31.339						27,791			875,155						0.84						1.40			to			1.45						22.45			to			22.38
			2020						25.769			to			25.607						29,590			761,199						1.24						1.40			to			1.45						11.52			to			11.47
DWS Capital Growth VIP B1
			2024						48.433			to			48.044						—			—						—						1.40			to			1.45						16.75			to			16.72
			2023						41.484			to			41.161						24,380			1,010,894						—						1.40			to			1.45						36.26			to			36.19
			2022						30.445			to			30.223						31,646			963,132						—						1.40			to			1.45						(31.87)			to			(31.90)
			2021						44.684			to			44.380						38,646			1,726,405						—						1.40			to			1.45						20.75			to			20.69
			2020						37.004			to			36.771						41,732			1,543,899						0.27						1.40			to			1.45						36.77			to			36.71

39

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
DWS CROCI International VIP - Class A
			2024						$	20.846		to			$9.716						49,148			$	1,009,119					3.41		%				1.40		%	to			1.45		%				1.02		%	to			0.97		%
			2023						20.636			to			9.623						59,998			1,221,608						3.30						1.40			to			1.45						17.30			to			17.24
			2022						17.593			to			8.208						65,295			1,134,673						3.22						1.40			to			1.45						(14.39)			to			(14.44)
			2021						20.550			to			9.593						71,979			1,450,055						2.51						1.40			to			1.45						7.72			to			7.67
			2020						19.078			to			8.910						84,248			1,580,215						3.51						1.40			to			1.45						1.19			to			1.14
DWS Global Income Builder VIP A
			2024						45.508			to			18.812						122,280			5,129,192						3.53						1.40			to			1.45						7.58			to			7.52
			2023						42.302			to			17.496						134,677			5,270,483						3.17						1.40			to			1.45						13.30			to			13.24
			2022						37.336			to			15.450						143,133			4,952,286						2.99						1.40			to			1.45						(16.16)			to			(16.20)
			2021						44.534			to			18.437						166,022			6,768,984						2.33						1.40			to			1.45						9.41			to			9.35
			2020						40.703			to			16.860						177,146			6,598,060						3.20						1.40			to			1.45						6.77			to			6.72
DWS Global Small Cap VIP B1
			2024						15.746			to			15.620						—			—						0.74						1.40			to			1.45						(0.94)			to			(0.96)
			2023						15.895			to			15.771						5,487			87,211						0.58						1.40			to			1.45						22.48			to			22.42
			2022						12.978			to			12.883						5,614			72,861						0.26						1.40			to			1.45						(25.28)			to			(25.32)
			2021						17.368			to			17.250						6,131			106,493						0.07						1.40			to			1.45						13.06			to			13.00
			2020						15.362			to			15.265						6,755			103,766						0.59						1.40			to			1.45						15.31			to			15.26
DWS International Growth VIP B Share1
			2024						13.809			to			13.698						—			—						1.04						1.40			to			1.45						6.81			to			6.79
			2023						12.928			to			12.827						1,553			20,075						0.49						1.40			to			1.45						14.16			to			14.11
			2022						11.324			to			11.241						1,470			16,650						0.71						1.40			to			1.45						(29.70)			to			(29.73)
			2021						16.107			to			15.997						5,705			91,423						0.02						1.40			to			1.45						6.38			to			6.32
			2020						15.141			to			15.141						5,992			90,718						1.20						1.40			to			1.40						20.59			to			20.59
DWS Small Cap Index A Share
			2024						31.788			to			29.492						5,292			161,095						1.16						1.00			to			1.45						10.04			to			9.55
			2023						28.888			to			26.922						5,316			147,454						0.95						1.00			to			1.45						15.60			to			15.08
			2022						24.990			to			23.394						6,128			148,034						0.90						1.00			to			1.45						(21.42)			to			(21.78)
			2021						31.804			to			29.907						7,244			223,859						0.68						1.00			to			1.45						13.36			to			12.85
			2020						28.055			to			26.501						11,828			324,163						1.03						1.00			to			1.45						18.25			to			17.71
Federated Hermes High Income Bond
			2024						34.886			to			28.324						22,469			771,422						5.61						1.40			to			1.45						4.78			to			4.73
			2023						33.293			to			27.044						24,938			817,982						6.82						1.40			to			1.45						11.15			to			11.10
			2022						29.953			to			24.343						34,984			1,036,445						5.81						1.40			to			1.45						(13.00)			to			(13.05)
			2021						34.430			to			27.995						41,101			1,399,620						5.06						1.40			to			1.45						3.39			to			3.34
			2020						33.301			to			27.091						45,633			1,491,426						6.00						1.40			to			1.45						4.12			to			4.07
Federated Hermes Managed Volatility II
			2024						35.167			to			35.167						11,351			399,163						2.23						1.40			to			1.40						13.94			to			13.94
			2023						30.864			to			30.864						13,564			418,631						1.89						1.40			to			1.40						7.17			to			7.17
			2022						28.798			to			28.798						14,123			406,732						1.89						1.40			to			1.40						(14.95)			to			(14.95)
			2021						33.860			to			33.860						14,779			500,419						1.84						1.40			to			1.40						16.86			to			16.86
			2020						28.974			to			28.974						17,654			511,498						2.64						1.40			to			1.40						(0.47)			to			(0.47)

40

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Fidelity Asset Manager
			2024						$	27.758		to			$27.758						2,902			$	80,564					2.37		%				1.40		%	to			1.40		%				6.98		%	to			6.98		%
			2023						25.947			to			25.947						3,790			98,341						2.39						1.40			to			1.40						11.38			to			11.38
			2022						23.296			to			23.296						3,789			88,276						2.10						1.40			to			1.40						(16.12)			to			(16.12)
			2021						27.772			to			27.772						3,787			105,170						1.57						1.40			to			1.40						8.39			to			8.39
			2020						25.622			to			25.622						4,563			116,909						1.41						1.40			to			1.40						13.27			to			13.37
Fidelity Contrafund
			2024						90.447			to			86.784						341,250			30,749,182						0.18						1.40			to			1.60						31.92			to			31.66
			2023						68.561			to			65.917						390,403			26,670,424						0.48						1.40			to			1.60						31.60			to			31.34
			2022						52.097			to			50.187						421,772			21,896,466						0.49						1.40			to			1.60						(27.34)			to			(27.48)
			2021						71.696			to			69.206						468,488			33,478,685						0.06						1.40			to			1.60						26.06			to			25.81
			2020						56.875			to			55.010						517,569			29,344,223						0.25						1.40			to			1.60						28.75			to			28.50
Fidelity Contrafund II1
			2024						56.971			to			56.971						—			—						—						1.25			to			1.25						31.78			to			31.78
			2023						43.231			to			43.231						—			—						—						1.25			to			1.25						31.47			to			31.47
			2022						32.883			to			32.883						213			7,016						0.27						1.25			to			1.25						(27.40)			to			(27.40)
			2021						45.294			to			45.294						213			9,661						0.03						1.25			to			1.25						25.93			to			25.93
			2020						35.968			to			35.968						213			7,689						0.08						1.25			to			1.25						28.62			to			28.62
Fidelity Equity-Income
			2024						46.367			to			44.489						82,016			3,799,268						1.71						1.40			to			1.60						13.74			to			13.51
			2023						40.767			to			39.194						90,124			3,670,753						1.84						1.40			to			1.60						9.11			to			8.90
			2022						37.362			to			35.992						101,487			3,786,035						1.84						1.40			to			1.60						(6.28)			to			(6.46)
			2021						39.864			to			38.479						108,006			4,297,368						1.87						1.40			to			1.60						23.16			to			22.91
			2020						32.368			to			31.306						119,227			3,852,454						1.74						1.40			to			1.60						5.21			to			5.00
Fidelity Freedom Funds 2010 II
			2024						17.033			to			17.033						27,530			468,916						3.38						1.40			to			1.40						3.68			to			3.68
			2023						16.428			to			16.428						27,881			458,026						3.37						1.40			to			1.40						7.57			to			7.57
			2022						15.272			to			15.272						37,400			571,172						1.94						1.40			to			1.40						(14.86)			to			(14.86)
			2021						17.937			to			17.937						37,776			677,603						0.82						1.40			to			1.40						4.13			to			4.13
			2020						17.226			to			17.226						19,535			336,512						2.28						1.40			to			1.40						10.68			to			10.68
Fidelity Freedom Funds 2015 II
			2024						18.238			to			18.238						5,294			96,558						3.04						1.40			to			1.40						4.73			to			4.73
			2023						17.415			to			17.415						5,525			96,220						3.12						1.40			to			1.40						9.11			to			9.11
			2022						15.961			to			15.961						7,623			121,667						1.79						1.40			to			1.40						(15.97)			to			(15.97)
			2021						18.995			to			18.995						17,410			330,706						0.84						1.40			to			1.40						5.90			to			5.90
			2020						17.937			to			17.937						8,412			150,888						1.05						1.40			to			1.40						11.99			to			11.99
Fidelity Freedom Funds 2020 II
			2024						19.191			to			19.031						19,993			383,433						2.77						1.40			to			1.45						5.90			to			5.85
			2023						18.121			to			17.979						18,440			334,128						3.21						1.40			to			1.45						10.67			to			10.61
			2022						16.374			to			16.255						33,842			552,382						1.82						1.40			to			1.45						(17.14)			to			(17.18)
			2021						19.760			to			19.626						46,782			922,601						0.85						1.40			to			1.45						7.74			to			7.69
			2020						18.340			to			18.224						34,846			637,624						0.99						1.40			to			1.45						13.13			to			13.07

41

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Fidelity Freedom Funds 2025 II
			2024						$	20.948		to			$20.775						40,690			$	850,287					2.35		%				1.40		%	to			1.45		%				6.77		%	to			6.72		%
			2023						19.620			to			19.467						38,798			759,585						2.68						1.40			to			1.45						11.75			to			11.70
			2022						17.557			to			17.428						42,370			742,504						1.95						1.40			to			1.45						(17.79)			to			(17.84)
			2021						21.357			to			21.212						52,176			1,112,782						0.86						1.40			to			1.45						9.01			to			8.96
			2020						19.592			to			19.468						54,918			1,074,599						1.00						1.40			to			1.45						14.07			to			14.01
Fidelity Freedom Funds 2030 II
			2024						21.902			to			21.721						74,954			1,641,675						1.99						1.40			to			1.45						7.61			to			7.56
			2023						20.353			to			20.194						78,482			1,597,361						2.27						1.40			to			1.45						12.87			to			12.82
			2022						18.032			to			17.900						80,322			1,448,386						1.79						1.40			to			1.45						(18.24)			to			(18.28)
			2021						22.054			to			21.904						98,627			2,175,154						0.87						1.40			to			1.45						10.51			to			10.46
			2020						19.956			to			19.830						91,743			1,830,866						1.00						1.40			to			1.45						15.02			to			14.96
Fidelity Freedom Funds 2050 II
			2024						33.575			to			33.575						952			31,969						1.09						1.25			to			1.25						12.13			to			12.13
			2023						29.942			to			29.942						952			28,510						1.28						1.25			to			1.25						17.72			to			17.72
			2022						25.436			to			25.436						952			24,221						1.43						1.25			to			1.25						(19.48)			to			(19.48)
			2021						31.590			to			31.590						952			30,081						0.71						1.25			to			1.25						16.05			to			16.05
			2020						27.220			to			27.220						952			25,919						0.77						1.25			to			1.25						17.52			to			17.52
Fidelity Freedom Income Fund II
			2024						14.021			to			13.905						6,856			95,741						3.41						1.40			to			1.45						2.74			to			2.70
			2023						13.647			to			13.540						7,718			104,892						4.02						1.40			to			1.45						6.16			to			6.10
			2022						12.855			to			12.761						8,225			105,337						2.04						1.40			to			1.45						(13.48)			to			(13.52)
			2021						14.858			to			14.756						10,560			156,441						0.71						1.40			to			1.45						1.60			to			1.54
			2020						14.624			to			14.532						12,486			182,174						1.14						1.40			to			1.45						8.75			to			8.70
Fidelity Government Money Market Portfolio - Initial Class
			2024						10.392			to			9.772						7,920			79,329						4.99						1.10			to			1.45						3.94			to			3.58
			2023						9.998			to			9.434						8,994			86,858						4.88						1.10			to			1.45						3.76			to			3.39
			2022						9.636			to			9.125						2,551			23,794						1.59						1.10			to			1.45						0.32			to			(0.02)
			2021						9.605			to			9.127						2,204			20,531						—						1.10			to			1.45						(1.08)			to			(1.43)
			2020						9.710			to			9.259						2,354			22,160						0.33						1.10			to			1.45						(0.78)			to			(1.13)
Fidelity Government Money Market Portfolio - Service Class II
			2024						9.571			to			9.777						596,827			6,069,759						4.73						1.25			to			1.60						3.53			to			3.17
			2023						9.245			to			9.477						593,880			5,841,672						4.55						1.25			to			1.60						3.34			to			2.98
			2022						8.946			to			9.203						506,678			4,830,204						1.21						1.25			to			1.60						0.01			to			(0.34)
			2021						8.945			to			9.234						565,152			5,394,672						0.01						1.25			to			1.60						(1.24)			to			(1.58)
			2020						9.057			to			9.382						660,525			6,370,522						0.21						1.25			to			1.60						(1.01)			to			(1.36)
Fidelity Growth
			2024						47.698			to			71.287						354,882			16,867,459						—						1.40			to			1.75						28.57			to			28.12
			2023						37.100			to			55.642						391,170			14,465,115						0.12						1.40			to			1.75						34.35			to			33.88
			2022						27.614			to			41.561						433,881			11,946,532						0.62						1.40			to			1.75						(25.51)			to			(25.76)
			2021						37.069			to			55.985						531,343			19,636,445						—						1.40			to			1.75						21.50			to			21.08
			2020						30.509			to			46.239						583,153			17,725,931						0.07						1.40			to			1.75						41.90			to			41.40

42

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Fidelity Growth & Income
			2024						$	42.695		to			$40.965						122,296			$	5,187,634					1.43		%				1.40		%	to			1.60		%				20.51		%	to			20.26		%
			2023						35.429			to			34.063						134,628			4,740,420						1.65						1.40			to			1.60						17.07			to			16.84
			2022						30.262			to			29.153						142,545			4,287,936						1.61						1.40			to			1.60						(6.27)			to			(6.46)
			2021						32.286			to			31.165						153,518			4,924,982						2.32						1.40			to			1.60						24.20			to			23.95
			2020						25.995			to			25.143						175,639			4,524,711						2.08						1.40			to			1.60						6.35			to			6.14
Fidelity Growth Opportunities
			2024						72.943			to			64.342						69,306			5,031,880						—						1.40			to			1.45						36.95			to			36.88
			2023						53.263			to			47.006						84,193			4,459,356						—						1.40			to			1.45						43.63			to			43.56
			2022						37.083			to			32.743						88,257			3,253,658						—						1.40			to			1.45						(39.01)			to			(39.04)
			2021						60.801			to			53.712						92,461			5,588,930						—						1.40			to			1.45						10.39			to			10.33
			2020						55.080			to			48.683						120,294			6,561,153						0.01						1.40			to			1.45						66.31			to			66.23
Fidelity Index 500
			2024						43.939			to			41.318						33,401			1,434,520						1.29						1.10			to			1.45						23.52			to			23.09
			2023						35.571			to			33.567						34,035			1,184,080						1.47						1.10			to			1.45						24.82			to			24.38
			2022						28.498			to			26.987						36,427			1,015,912						1.46						1.10			to			1.45						(19.11)			to			(19.39)
			2021						35.229			to			33.477						39,510			1,365,779						1.00						1.10			to			1.45						27.17			to			26.73
			2020						27.702			to			26.417						44,602			1,203,862						1.76						1.10			to			1.45						16.95			to			16.54
Fidelity Mid Cap II
			2024						45.490			to			43.734						76,097			3,456,486						0.33						1.40			to			1.60						15.54			to			15.30
			2023						39.372			to			37.929						92,186			3,624,262						0.38						1.40			to			1.60						13.21			to			12.98
			2022						34.778			to			33.570						98,207			3,410,499						0.25						1.40			to			1.60						(16.15)			to			(16.32)
			2021						41.475			to			40.115						114,468			4,740,785						0.36						1.40			to			1.60						23.57			to			23.32
			2020						33.565			to			32.529						122,477			4,105,808						0.40						1.40			to			1.60						16.23			to			16.00
Fidelity Overseas II
			2024						14.238			to			14.120						11,833			168,463						1.34						1.40			to			1.45						3.34			to			3.29
			2023						13.778			to			13.670						12,230			168,428						0.82						1.40			to			1.45						18.55			to			18.49
			2022						11.622			to			11.537						11,850			137,665						0.58						1.40			to			1.45						(25.72)			to			(25.76)
			2021						15.647			to			15.541						21,252			332,483						0.33						1.40			to			1.45						17.73			to			17.67
			2020						13.291			to			13.207						29,339			389,894						0.22						1.40			to			1.45						13.73			to			13.68
Franklin Allocation VIP Fund - Class 2
			2024						18.636			to			18.636						15,073			280,888						2.10						1.40			to			1.40						7.63			to			7.63
			2023						17.315			to			17.315						16,420			284,318						1.47						1.40			to			1.40						13.02			to			13.02
			2022						15.320			to			15.320						21,131			323,719						1.64						1.40			to			1.40						(17.17)			to			(17.17)
			2021						18.495			to			18.495						22,218			410,911						1.70						1.40			to			1.40						10.13			to			10.13
			2020						16.794			to			16.794						25,930			435,455						1.51						1.40			to			1.40						10.19			to			10.19
Franklin DynaTech VIP Fund - Class 2
			2024						51.826			to			50.318						7,704			399,195						—						1.40			to			1.55						28.62			to			28.43
			2023						40.293			to			39.180						15,129			609,550						—						1.40			to			1.55						41.78			to			41.57
			2022						28.419			to			27.675						15,223			432,590						—						1.40			to			1.55						(40.79)			to			(40.88)
			2021						47.998			to			46.812						16,355			784,974						—						1.40			to			1.55						14.53			to			14.36
			2020						41.908			to			40.934						16,311			683,550						—						1.40			to			1.55						42.87			to			42.66

43

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Franklin Income VIP Fund - Class 2
			2024						$	23.852		to			$22.913						113,110			$	2,693,335					5.23		%				1.40		%	to			1.60		%				5.70		%	to			5.49		%
			2023						22.565			to			21.720						119,312			2,688,010						5.08						1.40			to			1.60						7.12			to			6.91
			2022						21.065			to			20.317						130,321			2,741,385						4.95						1.40			to			1.60						(6.79)			to			(6.97)
			2021						22.599			to			21.840						147,718			3,334,673						4.74						1.40			to			1.60						15.13			to			14.91
			2020						19.629			to			19.007						175,385			3,439,598						5.86						1.40			to			1.60						(0.70)			to			(0.91)
Franklin Mutual Shares VIP Fund - Class 2
			2024						28.690			to			26.166						100,292			2,874,280						1.93						1.40			to			1.55						9.72			to			9.55
			2023						26.149			to			23.885						113,436			2,963,464						1.87						1.40			to			1.55						11.89			to			11.73
			2022						23.370			to			21.378						126,775			2,960,292						1.76						1.40			to			1.55						(8.71)			to			(8.86)
			2021						25.601			to			23.455						150,007			3,837,690						2.86						1.40			to			1.55						17.51			to			17.34
			2020						21.786			to			19.989						166,862			3,633,025						2.80						1.40			to			1.55						(6.37)			to			(6.51)
Franklin Small Cap Value VIP Fund - Class 2
			2024						37.956			to			36.491						87,360			3,312,179						0.94						1.40			to			1.60						10.15			to			9.92
			2023						34.460			to			33.197						110,645			3,809,407						0.53						1.40			to			1.60						11.18			to			10.96
			2022						30.994			to			29.918						123,329			3,819,076						1.01						1.40			to			1.60						(11.31)			to			(11.49)
			2021						34.948			to			33.801						140,586			4,909,084						1.01						1.40			to			1.60						23.62			to			23.37
			2020						28.270			to			27.397						166,052			4,689,782						1.52						1.40			to			1.60						3.73			to			3.52
Franklin Small-Mid Cap Growth VIP Fund - Class 2
			2024						28.471			to			40.296						97,950			2,784,047						—						1.40			to			1.55						9.48			to			9.32
			2023						26.005			to			36.861						116,409			3,024,939						—						1.40			to			1.55						24.98			to			24.80
			2022						20.807			to			29.537						128,528			2,672,460						—						1.40			to			1.55						(34.61)			to			(34.71)
			2021						31.821			to			45.240						136,949			4,354,289						—						1.40			to			1.55						8.49			to			8.32
			2020						29.332			to			41.765						151,122			4,429,856						—						1.40			to			1.55						52.94			to			52.71
Franklin U.S. Government Securities VIP Fund - Class 2
			2024						14.743			to			14.293						185,312			2,694,194						3.13						1.40			to			1.55						(0.05)			to			(0.20)
			2023						14.751			to			14.322						211,974			3,080,763						2.72						1.40			to			1.55						3.02			to			2.87
			2022						14.319			to			13.923						233,030			3,289,389						2.41						1.40			to			1.55						(11.00)			to			(11.14)
			2021						16.089			to			15.668						272,822			4,322,065						2.40						1.40			to			1.55						(3.19)			to			(3.34)
			2020						16.620			to			16.209						343,768			5,464,967						3.39						1.40			to			1.55						2.39			to			2.23
Invesco American Franchise Fund I
			2024						40.964			to			40.584						145,919			5,976,136						—						1.40			to			1.45						33.00			to			32.94
			2023						30.800			to			30.529						167,815			5,167,427						—						1.40			to			1.45						38.98			to			38.91
			2022						22.162			to			21.978						175,663			3,892,200						—						1.40			to			1.45						(32.07)			to			(32.10)
			2021						32.625			to			32.370						192,835			6,289,410						—						1.40			to			1.45						10.37			to			10.32
			2020						29.559			to			29.343						210,971			6,234,553						0.07						1.40			to			1.45						40.38			to			40.30
Invesco American Franchise Fund II1
			2024						48.415			to			47.941						14,167			685,706						—						1.40			to			1.45						32.68			to			32.61
			2023						36.490			to			36.151						18,213			664,426						—						1.40			to			1.45						38.65			to			38.58
			2022						26.318			to			26.086						23,292			612,867						—						1.40			to			1.45						(32.25)			to			(32.28)
			2021						38.846			to			38.523						23,994			931,861						—						1.40			to			1.45						10.10			to			10.04
			2020						35.283			to			35.008						25,117			885,968						—						1.40			to			1.45						40.02			to			39.95

44

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Invesco Discovery Mid Cap Growth Fund I
			2024						$	55.427		to			$54.829						2,996			$	165,985					—		%				1.40		%	to			1.45		%				22.50		%	to			22.43		%
			2023						45.248			to			44.783						3,139			141,964						—						1.40			to			1.45						11.58			to			11.53
			2022						40.551			to			40.154						3,303			133,885						—						1.40			to			1.45						(31.94)			to			(31.97)
			2021						59.582			to			59.028						3,324			198,017						—						1.40			to			1.45						17.44			to			17.38
			2020						50.733			to			50.286						3,403			172,590						—						1.40			to			1.45						46.89			to			46.84
Invesco Discovery Mid Cap Growth Fund II
			2024						30.929			to			29.787						9,195			284,211						—						1.40			to			1.60						22.19			to			21.94
			2023						25.312			to			24.427						8,672			219,341						—						1.40			to			1.60						11.29			to			11.07
			2022						22.745			to			21.993						8,387			190,619						—						1.40			to			1.60						(32.09)			to			(32.22)
			2021						33.492			to			32.450						8,204			274,567						—						1.40			to			1.60						17.14			to			16.91
			2020						28.591			to			27.757						9,515			271,858						—						1.40			to			1.60						46.53			to			45.31
Invesco EQV International Equity I
			2024						36.924			to			26.938						10,067			371,066						1.73						1.40			to			1.55						(0.79)			to			(0.94)
			2023						37.217			to			27.193						10,809			401,628						0.19						1.40			to			1.55						16.51			to			16.33
			2022						31.944			to			23.375						13,727			434,999						1.64						1.40			to			1.55						(19.44)			to			(19.56)
			2021						39.652			to			29.060						14,671			576,840						1.25						1.40			to			1.55						4.42			to			4.26
			2020						37.975			to			27.872						15,196			571,874						2.31						1.40			to			1.55						12.41			to			12.24
Invesco EQV International Equity II
			2024						17.976			to			16.831						163,726			2,941,638						1.43						1.40			to			1.75						(1.06)			to			(1.41)
			2023						18.168			to			17.071						202,048			3,669,047						—						1.40			to			1.75						16.23			to			15.83
			2022						15.631			to			14.738						232,265			3,628,904						1.37						1.40			to			1.75						(19.63)			to			(19.92)
			2021						19.450			to			18.404						263,655			5,126,024						1.03						1.40			to			1.75						4.14			to			3.78
			2020						18.677			to			17.734						299,492			5,591,308						2.06						1.40			to			1.75						12.15			to			11.77
Invesco Global Real Estate
			2024						33.243			to			20.963						40,097			1,323,322						2.46						1.40			to			1.75						(3.17)			to			(3.52)
			2023						34.332			to			21.727						47,380			1,615,517						1.48						1.40			to			1.75						7.53			to			7.16
			2022						31.927			to			20.275						50,567			1,601,452						2.88						1.40			to			1.75						(25.98)			to			(26.24)
			2021						43.131			to			27.486						53,225			2,276,000						2.64						1.40			to			1.75						23.96			to			23.53
			2020						34.793			to			22.251						64,995			2,238,534						4.84						1.40			to			1.75						(13.54)			to			(13.84)
Invesco Health Care
			2024						41.481			to			41.034						5,666			234,847						—						1.40			to			1.45						2.71			to			2.66
			2023						40.386			to			39.970						5,946			239,839						—						1.40			to			1.45						1.59			to			1.54
			2022						39.752			to			39.363						6,066			240,844						—						1.40			to			1.45						(14.52)			to			(14.56)
			2021						46.505			to			46.072						6,773			314,367						0.20						1.40			to			1.45						10.74			to			10.68
			2020						41.995			to			41.626						8,059			337,884						0.32						1.40			to			1.45						12.87			to			12.81
Invesco Small Cap Equity II
			2024						29.396			to			29.152						7,233			212,614						—						1.40			to			1.45						16.20			to			16.14
			2023						25.297			to			25.100						9,237			233,675						—						1.40			to			1.45						14.65			to			14.59
			2022						22.065			to			21.904						9,753			215,216						—						1.40			to			1.45						(21.83)			to			(21.87)
			2021						28.228			to			28.036						10,396			293,475						—						1.40			to			1.45						18.43			to			18.37
			2020						23.836			to			23.686						11,911			283,925						0.03						1.40			to			1.45						25.10			to			25.04

45

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
LVIP American Century Balanced Fund Standard Class II1
			2024						$	31.755		to			$30.468						210,392			$	6,506,302					1.98		%				1.40		%	to			1.60		%				10.50		%	to			10.28		%
			2023						28.738			to			27.629						234,115			6,559,353						1.91						1.40			to			1.60						14.80			to			14.56
			2022						25.034			to			24.117						269,784			6,599,294						1.21						1.40			to			1.60						(18.41)			to			(18.58)
			2021						30.684			to			29.619						278,483			8,327,011						0.72						1.40			to			1.60						14.16			to			13.93
			2020						26.878			to			25.997						300,616			7,874,353						1.16						1.40			to			1.60						10.96			to			10.74
LVIP American Century Inflation Protection Fund Service1
			2024						13.015			to			12.637						107,303			1,395,175						3.53						1.40			to			1.55						0.12			to			(0.02)
			2023						12.999			to			12.640						123,704			1,606,418						3.28						1.40			to			1.55						1.96			to			1.81
			2022						12.749			to			12.415						147,912			1,883,910						4.94						1.40			to			1.55						(14.28)			to			(14.41)
			2021						14.873			to			14.506						166,237			2,469,777						3.06						1.40			to			1.55						4.79			to			4.64
			2020						14.193			to			13.863						189,130			2,681,490						1.31						1.40			to			1.55						8.03			to			7.87
LVIP American Century International Fund Standard Class II1
			2024						17.590			to			16.877						217,759			3,773,285						1.62						1.40			to			1.60						1.17			to			0.96
			2023						17.386			to			16.716						240,703			4,125,494						1.41						1.40			to			1.60						11.01			to			10.79
			2022						15.662			to			15.088						259,475			4,010,112						1.50						1.40			to			1.60						(25.80)			to			(25.95)
			2021						21.108			to			20.375						313,522			6,535,364						0.16						1.40			to			1.60						7.24			to			7.03
			2020						19.683			to			19.037						353,297			6,830,302						0.49						1.40			to			1.60						24.13			to			23.88
LVIP American Century Large Company Value Fund Service1
			2024						28.925			to			27.809						15,367			443,769						2.44						1.40			to			1.60						8.97			to			8.76
			2023						26.543			to			25.570						15,774			418,056						2.45						1.40			to			1.60						2.34			to			2.13
			2022						25.937			to			25.036						17,311			448,393						1.93						1.40			to			1.60						(1.84)			to			(2.03)
			2021						26.422			to			25.556						16,858			444,812						1.27						1.40			to			1.60						19.84			to			19.60
			2020						22.048			to			21.367						16,267			358,381						1.57						1.40			to			1.60						1.06			to			0.86
LVIP American Century Ultra Fund Service Class1
			2024						67.799			to			67.199						6,051			409,568						—						1.40			to			1.45						26.82			to			26.76
			2023						53.460			to			53.013						7,878			420,644						—						1.40			to			1.45						41.28			to			41.21
			2022						37.839			to			37.541						10,147			383,596						—						1.40			to			1.45						(33.40)			to			(33.43)
			2021						56.815			to			56.396						13,521			766,521						—						1.40			to			1.45						21.29			to			21.22
			2020						46.844			to			46.522						13,056			611,387						—						1.40			to			1.45						47.47			to			47.40
LVIP American Century Ultra Fund Standard Class II1
			2024						84.936			to			65.198						5,223			442,212						—						1.40			to			1.75						27.00			to			26.55
			2023						66.880			to			51.519						6,288			418,960						—						1.40			to			1.75						41.52			to			41.03
			2022						47.258			to			36.531						7,253			341,400						—						1.40			to			1.75						(33.31)			to			(33.55)
			2021						70.867			to			54.973						7,534			531,822						—						1.40			to			1.75						21.45			to			21.02
			2020						58.351			to			45.423						7,936			461,163						—						1.40			to			1.75						47.77			to			47.26
LVIP American Century Value Fund Standard Class II1
			2024						41.963			to			41.490						48,865			2,047,110						2.82						1.40			to			1.45						7.95			to			7.90
			2023						38.872			to			38.453						58,600			2,274,943						2.37						1.40			to			1.45						7.59			to			7.53

46

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
LVIP American Century Value Fund Standard Class II1 (continued)
			2022						$	36.131		to			$35.760						63,617			$	2,295,688					2.06		%				1.40		%	to			1.45		%				(0.85)		%	to			(0.90)		%
			2021						36.442			to			36.086						77,079			2,804,988						1.73						1.40			to			1.45						22.78			to			22.72
			2020						29.681			to			29.405						88,554			2,625,186						2.32						1.40			to			1.45						(0.43)			to			(0.48)
LVIP JPMorgan Mid Cap Value Fund - Standard Class
			2024						61.139			to			58.663						67,187			4,063,851						1.19						1.40			to			1.60						12.69			to			12.46
			2023						54.255			to			52.162						76,501			4,109,973						3.13						1.40			to			1.60						9.37			to			9.16
			2022						49.605			to			47.786						83,186			4,087,660						0.96						1.40			to			1.60						(9.43)			to			(9.61)
			2021						54.771			to			52.869						89,141			4,837,312						0.90						1.40			to			1.60						28.08			to			27.83
			2020						42.763			to			41.360						101,880			4,319,531						1.48						1.40			to			1.60						(1.03)			to			(1.23)
LVIP JPMorgan U.S. Equity Fund - Standard Class
			2024						44.722			to			42.902						63,219			2,788,334						0.51						1.40			to			1.45						22.25			to			22.19
			2023						36.582			to			35.110						67,502			2,436,550						1.57						1.40			to			1.45						25.40			to			25.33
			2022						29.172			to			28.013						69,757			2,008,294						0.53						1.40			to			1.45						(19.82)			to			(19.86)
			2021						36.385			to			34.956						74,472			2,673,140						0.78						1.40			to			1.45						27.55			to			27.48
			2020						28.527			to			27.421						91,419			2,565,836						0.78						1.40			to			1.45						23.52			to			23.46
Morningstar Aggressive Growth ETF Asset Allocation Class I
			2024						22.220			to			21.265						7,754			168,460						1.51						1.20			to			1.45						13.47			to			13.19
			2023						19.582			to			18.787						7,756			148,694						1.85						1.20			to			1.45						15.71			to			15.42
			2022						16.924			to			16.277						8,050			133,520						1.75						1.20			to			1.45						(13.96)			to			(14.17)
			2021						19.669			to			18.965						8,223			158,714						1.31						1.20			to			1.45						17.18			to			16.89
			2020						16.785			to			16.225						8,227			135,689						2.09						1.20			to			1.45						9.03			to			8.75
Morningstar Aggressive Growth ETF Asset Allocation Class II
			2024						22.311			to			22.311						49,762			1,110,251						1.23						1.40			to			1.40						12.97			to			12.97
			2023						19.749			to			19.749						57,889			1,143,263						1.60						1.40			to			1.40						15.26			to			15.26
			2022						17.135			to			17.135						69,019			1,182,644						1.51						1.40			to			1.40						(14.38)			to			(14.38)
			2021						20.012			to			20.012						69,022			1,381,293						1.01						1.40			to			1.40						16.69			to			16.69
			2020						17.150			to			17.150						95,314			1,634,661						1.77						1.40			to			1.40						8.43			to			8.43
Morningstar Balanced ETF Asset Allocation Class I
			2024						18.869			to			18.058						18,844			348,964						0.99						1.20			to			1.45						9.18			to			8.90
			2023						17.283			to			16.582						40,459			693,572						2.33						1.20			to			1.45						11.77			to			11.49
			2022						15.463			to			14.873						40,465			620,941						2.03						1.20			to			1.45						(13.65)			to			(13.86)
			2021						17.907			to			17.266						40,741			724,260						1.59						1.20			to			1.45						9.68			to			9.40
			2020						16.326			to			15.782						43,202			700,043						2.38						1.20			to			1.45						8.10			to			7.84
Morningstar Balanced ETF Asset Allocation Class II
			2024						17.938			to			17.789						148,458			2,662,836						1.75						1.40			to			1.45						8.63			to			8.58
			2023						16.513			to			16.384						160,719			2,653,294						1.88						1.40			to			1.45						11.26			to			11.20
			2022						14.842			to			14.734						185,910			2,758,378						1.65						1.40			to			1.45						(14.09)			to			(14.14)
			2021						17.277			to			17.160						199,028			3,437,217						1.26						1.40			to			1.45						9.25			to			9.20
			2020						15.814			to			15.715						242,662			3,836,036						1.94						1.40			to			1.45						7.60			to			7.56

47

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Morningstar Conservative ETF Asset Allocation Class I
			2024						$	14.246		to			$13.396						50,902			$	714,285					2.37		%				1.10		%	to			1.45		%				4.35		%	to			3.98		%
			2023						13.652			to			12.883						59,401			797,299						2.59						1.10			to			1.45						7.02			to			6.65
			2022						12.757			to			12.080						59,677			749,440						1.77						1.10			to			1.45						(12.58)			to			(12.89)
			2021						14.593			to			13.867						43,951			628,586						1.55						1.10			to			1.45						1.40			to			1.03
			2020						14.392			to			13.725						36,843			517,825						1.97						1.10			to			1.45						5.62			to			5.26
Morningstar Conservative ETF Asset Allocation Class II
			2024						12.463			to			12.359						11,814			146,982						2.35						1.40			to			1.45						3.82			to			3.76
			2023						12.004			to			11.911						9,517			114,249						1.98						1.40			to			1.45						6.34			to			6.30
			2022						11.288			to			11.205						12,721			143,594						1.30						1.40			to			1.45						(13.04)			to			(13.09)
			2021						12.981			to			12.892						17,736			230,079						1.30						1.40			to			1.45						0.85			to			0.81
			2020						12.871			to			12.789						9,400			120,857						1.36						1.40			to			1.45						5.02			to			4.96
Morningstar Growth ETF Asset Allocation Class I
			2024						21.010			to			20.107						5,394			110,386						1.71						1.20			to			1.45						11.53			to			11.25
			2023						18.838			to			18.074						5,394			99,128						2.03						1.20			to			1.45						14.23			to			13.95
			2022						16.491			to			15.862						5,482			88,315						1.85						1.20			to			1.45						(14.00)			to			(14.21)
			2021						19.176			to			18.490						5,487			102,933						1.37						1.20			to			1.45						13.72			to			13.44
			2020						16.863			to			16.300						6,584			108,792						2.32						1.20			to			1.45						8.95			to			8.67
Morningstar Growth ETF Asset Allocation Class II
			2024						20.590			to			20.419						102,507			2,110,645						1.51						1.40			to			1.45						11.09			to			11.04
			2023						18.534			to			18.389						102,756			1,904,461						1.70						1.40			to			1.45						13.67			to			13.61
			2022						16.305			to			16.186						120,735			1,968,562						1.50						1.40			to			1.45						(14.45)			to			(14.50)
			2021						19.060			to			18.930						141,128			2,689,931						1.16						1.40			to			1.45						13.28			to			13.23
			2020						16.825			to			16.718						171,952			2,893,026						1.87						1.40			to			1.45						8.48			to			8.42
Morningstar Income & Growth ETF Asset Allocation Class I
			2024						16.339			to			15.637						3,750			59,674						2.51						1.20			to			1.45						6.90			to			6.64
			2023						15.284			to			14.664						4,504			67,150						2.36						1.20			to			1.45						9.66			to			9.39
			2022						13.937			to			13.405						5,483			74,651						2.05						1.20			to			1.45						(13.36)			to			(13.57)
			2021						16.086			to			15.510						6,310			99,302						1.67						1.20			to			1.45						5.39			to			5.12
			2020						15.264			to			14.754						7,172			107,256						2.44						1.20			to			1.45						7.43			to			7.16
Morningstar Income & Growth ETF Asset Allocation Class II
			2024						15.102			to			14.977						40,640			613,381						2.34						1.40			to			1.45						6.46			to			6.40
			2023						14.186			to			14.076						38,335			543,710						2.14						1.40			to			1.45						9.06			to			9.01
			2022						13.007			to			12.912						38,272			497,674						1.63						1.40			to			1.45						(13.76)			to			(13.80)
			2021						15.082			to			14.979						42,413			639,150						1.35						1.40			to			1.45						4.99			to			4.93
			2020						14.365			to			14.275						46,818			672,093						1.89						1.40			to			1.45						6.92			to			6.87
Neuberger Berman AMT Mid Cap Growth Class S
			2024						35.504			to			35.210						10,961			389,141						—						1.40			to			1.45						22.03			to			21.97
			2023						29.095			to			28.868						12,380			360,184						—						1.40			to			1.45						16.33			to			16.27
			2022						25.011			to			24.828						12,350			308,889						—						1.40			to			1.45						(29.82)			to			(29.85)
			2021						35.636			to			35.393						14,421			513,901						—						1.40			to			1.45						11.16			to			11.10
			2020						32.059			to			31.857						16,288			522,186						—						1.40			to			1.45						37.77			to			37.70

48

---

Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Neuberger Berman AMT Mid Cap Intrinsic Value Class S
			2024						$	23.167		to			$22.975						999			$	23,156					0.28		%				1.40		%	to			1.45		%				7.15		%	to			7.09		%
			2023						21.622			to			21.453						851			18,398						0.46						1.40			to			1.45						9.15			to			9.10
			2022						19.809			to			19.664						1,185			23,479						0.16						1.40			to			1.45						(11.20)			to			(11.24)
			2021						22.307			to			22.155						1,209			26,978						0.24						1.40			to			1.45						30.67			to			30.61
			2020						17.071			to			16.963						1,661			28,357						0.66						1.40			to			1.45						(4.18)			to			(4.23)
Neuberger Berman AMT Sustainable Equity Class S
			2024						38.967			to			38.644						3,834			149,335						—						1.40			to			1.45						23.77			to			23.70
			2023						31.484			to			31.239						4,166			131,120						0.08						1.40			to			1.45						24.81			to			24.75
			2022						25.225			to			25.041						4,068			102,560						0.12						1.40			to			1.45						(19.78)			to			(19.82)
			2021						31.446			to			31.231						5,353			168,281						0.17						1.40			to			1.45						21.45			to			21.39
			2020						25.892			to			25.728						5,633			145,836						0.39						1.40			to			1.45						17.62			to			17.56
PIMCO All Asset Portfolio Advisor1
			2024						16.678			to			18.614						10,724			198,949						6.28						1.25			to			1.40						2.28			to			2.13
			2023						16.306			to			18.226						12,591			228,839						2.82						1.25			to			1.40						6.68			to			6.52
			2022						15.285			to			17.111						13,317			227,236						7.43						1.25			to			1.40						(12.97)			to			(13.09)
			2021						17.562			to			19.688						16,549			325,091						10.76						1.25			to			1.40						14.60			to			14.43
			2020						15.324			to			17.206						22,669			389,385						4.87						1.25			to			1.40						6.56			to			6.41
PIMCO CommodityRealReturn Strat. Administrative Class
			2024						7.927			to			7.696						89,903			712,246						2.19						1.40			to			1.55						2.71			to			2.54
			2023						7.718			to			7.505						98,606			760,648						16.33						1.40			to			1.55						(9.14)			to			(9.26)
			2022						8.494			to			8.271						106,914			907,549						21.97						1.40			to			1.55						7.11			to			6.94
			2021						7.930			to			7.734						139,449			1,105,302						4.19						1.40			to			1.55						31.49			to			31.29
			2020						6.031			to			5.891						170,676			1,028,652						6.52						1.40			to			1.55						(0.05)			to			(0.20)
PIMCO Total Return Portfolio Advisor
			2024						11.907			to			11.907						85			1,007						3.92						1.25			to			1.25						1.16			to			1.16
			2023						11.771			to			11.771						27,962			329,152						3.47						1.25			to			1.25						4.51			to			4.51
			2022						11.263			to			11.263						102,127			1,150,230						2.60						1.25			to			1.25						(15.45)			to			(15.45)
			2021						13.321			to			13.321						20,950			279,065						1.71						1.25			to			1.25						(2.59)			to			(2.59)
			2020						13.675			to			13.675						24,611			336,553						1.94						1.25			to			1.25						7.20			to			7.20
Pioneer Bond VCT Class I
			2024						41.420			to			20.118						35,542			1,384,549						4.50						1.40			to			1.45						1.72			to			1.67
			2023						40.718			to			19.787						38,300			1,470,033						3.94						1.40			to			1.45						5.47			to			5.42
			2022						38.605			to			18.769						41,087			1,500,887						2.42						1.40			to			1.45						(15.39)			to			(15.44)
			2021						45.628			to			22.195						46,855			1,953,351						2.21						1.40			to			1.45						(1.02)			to			(1.07)
			2020						46.097			to			22.434						50,373			2,126,892						3.03						1.40			to			1.45						7.19			to			7.14
Pioneer Equity Income VCT Class II
			2024						34.447			to			33.091						77,765			2,678,365						1.90						1.40			to			1.60						9.42			to			9.20
			2023						31.481			to			30.303						103,485			3,257,428						1.65						1.40			to			1.60						5.69			to			5.48
			2022						29.787			to			28.729						123,194			3,669,161						1.52						1.40			to			1.60						(9.22)			to			(9.40)
			2021						32.812			to			31.710						147,694			4,845,571						1.21						1.40			to			1.60						23.59			to			23.34
			2020						26.549			to			25.709						187,564			4,978,801						2.39						1.40			to			1.60						(1.65)			to			(1.85)

49

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Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Pioneer Fund VCT Class I
			2024						$	249.231		to			$38.825						181,788			$	44,133,636					0.71		%				1.40		%	to			1.45		%				20.94		%	to			20.88		%
			2023						206.077			to			32.119						200,056			40,253,044						0.87						1.40			to			1.45						27.14			to			27.08
			2022						162.083			to			25.275						216,755			34,363,200						0.64						1.40			to			1.45						(20.61)			to			(20.65)
			2021						204.167			to			31.853						235,776			47,147,541						0.32						1.40			to			1.45						26.20			to			26.14
			2020						161.775			to			25.252						255,858			40,603,711						0.77						1.40			to			1.45						22.55			to			22.49
Pioneer High Yield VCT Class II
			2024						20.000			to			19.407						27,871			557,198						5.53						1.40			to			1.55						6.99			to			6.83
			2023						18.693			to			18.166						30,367			567,410						5.32						1.40			to			1.55						9.46			to			9.29
			2022						17.078			to			16.622						53,469			910,709						4.82						1.40			to			1.55						(12.67)			to			(12.80)
			2021						19.556			to			19.061						64,782			1,262,575						4.88						1.40			to			1.55						3.98			to			3.82
			2020						18.807			to			18.359						81,880			1,534,871						5.16						1.40			to			1.55						0.56			to			0.41
Pioneer Mid Cap Value VCT Class I
			2024						65.958			to			25.945						70,507			4,639,059						1.90						1.40			to			1.45						9.39			to			9.33
			2023						60.298			to			23.731						82,031			4,935,934						2.00						1.40			to			1.45						10.90			to			10.84
			2022						54.373			to			21.410						92,960			5,045,119						2.09						1.40			to			1.45						(6.95)			to			(6.99)
			2021						58.434			to			23.020						97,208			5,652,538						0.96						1.40			to			1.45						27.87			to			27.80
			2020						45.699			to			18.012						116,844			5,158,869						1.22						1.40			to			1.45						0.72			to			0.67
Pioneer Select Mid Cap Growth VCT Class I
			2024						177.812			to			41.424						187,634			32,403,869						—						1.40			to			1.45						22.20			to			22.14
			2023						145.508			to			33.915						217,094			30,695,360						—						1.40			to			1.45						17.13			to			17.07
			2022						124.233			to			28.971						233,177			28,144,504						—						1.40			to			1.45						(32.02)			to			(32.05)
			2021						182.740			to			42.636						255,066			45,246,375						—						1.40			to			1.45						6.57			to			6.51
			2020						171.479			to			40.029						281,608			46,843,906						—						1.40			to			1.45						37.24			to			37.17
Pioneer Strategic Income VCT Class II
			2024						16.904			to			16.402						116,554			1,963,136						4.04						1.40			to			1.55						2.44			to			2.28
			2023						16.502			to			16.037						137,150			2,256,052						3.61						1.40			to			1.55						6.55			to			6.40
			2022						15.487			to			15.072						174,106			2,687,174						2.89						1.40			to			1.55						(14.05)			to			(14.18)
			2021						18.018			to			17.563						186,718			3,353,807						3.04						1.40			to			1.55						0.31			to			0.17
			2020						17.962			to			17.534						215,812			3,866,009						3.27						1.40			to			1.55						5.88			to			5.72
Templeton Developing Markets VIP Fund - Class 2
			2024						25.898			to			22.969						36,442			944,739						3.91						1.40			to			1.55						6.16			to			6.00
			2023						24.395			to			21.668						43,611			1,065,185						2.06						1.40			to			1.55						11.06			to			10.89
			2022						21.965			to			19.540						47,235			1,038,729						2.66						1.40			to			1.55						(23.07)			to			(23.18)
			2021						28.551			to			25.436						51,717			1,479,549						0.88						1.40			to			1.55						(7.05)			to			(7.19)
			2020						30.717			to			27.407						57,398			1,765,879						4.16						1.40			to			1.55						15.56			to			15.38
Templeton Global Bond VIP Fund - Class 2
			2024						13.049			to			12.181						109,332			1,422,598						—						1.40			to			1.75						(12.61)			to			(12.92)
			2023						14.932			to			13.988						127,604			1,899,729						—						1.40			to			1.75						1.45			to			1.11
			2022						14.718			to			13.835						140,528			2,062,850						—						1.40			to			1.75						(6.27)			to			(6.60)
			2021						15.702			to			14.812						152,839			2,394,001						—						1.40			to			1.75						(6.31)			to			(6.64)
			2020						16.760			to			15.866						185,962			3,108,252						8.60						1.40			to			1.75						(6.60)			to			(6.92)

50

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Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Templeton Growth VIP Fund - Class 2
			2024						$	21.072		to			$19.374						109,853			$	2,314,016					0.96		%				1.40		%	to			1.55		%				3.93		%	to			3.77		%
			2023						20.275			to			18.670						123,469			2,502,547						3.38						1.40			to			1.55						19.33			to			19.16
			2022						16.990			to			15.668						135,992			2,309,918						0.16						1.40			to			1.55						(12.73)			to			(12.86)
			2021						19.469			to			17.981						151,538			2,949,599						1.13						1.40			to			1.55						3.41			to			3.26
			2020						18.827			to			17.414						177,612			3,343,134						2.97						1.40			to			1.55						4.33			to			4.18
Vanguard Balanced
			2024						30.181			to			30.395						8,629			254,310						2.13						1.10			to			1.50						13.54			to			13.09
			2023						26.582			to			26.878						9,369			242,845						2.05						1.10			to			1.50						13.08			to			12.63
			2022						23.507			to			23.864						9,776			224,407						1.82						1.10			to			1.50						(15.24)			to			(15.58)
			2021						27.733			to			28.267						10,124			274,949						1.46						1.10			to			1.50						17.71			to			17.24
			2020						23.560			to			24.110						10,556			242,810						2.94						1.10			to			1.50						9.47			to			9.04
Vanguard High Yield Bond
			2024						20.345			to			18.951						42,421			819,014						5.45						1.10			to			1.50						5.28			to			4.86
			2023						19.325			to			18.073						32,331			597,924						5.37						1.10			to			1.50						10.45			to			10.01
			2022						17.497			to			16.429						19,319			329,280						3.00						1.10			to			1.50						(10.35)			to			(10.71)
			2021						19.517			to			18.399						79,863			1,484,932						3.86						1.10			to			1.50						2.54			to			2.13
			2020						19.033			to			18.015						32,504			593,351						1.96						1.10			to			1.50						4.51			to			4.10
Vanguard International
			2024						21.387			to			24.682						39,414			826,154						1.11						1.00			to			1.50						7.92			to			7.38
			2023						19.817			to			22.985						39,408			765,517						1.51						1.00			to			1.50						13.51			to			12.95
			2022						17.458			to			20.350						44,927			770,456						1.32						1.00			to			1.50						(30.82)			to			(31.16)
			2021						25.234			to			29.561						48,871			1,212,369						0.29						1.00			to			1.50						(2.52)			to			(3.01)
			2020						25.886			to			30.478						70,949			1,804,092						1.19						1.00			to			1.50						56.01			to			55.24
Vanguard Mid-Cap Index
			2024						34.167			to			44.457						25,244			825,926						1.38						1.00			to			1.50						13.92			to			13.35
			2023						29.991			to			39.220						26,134			751,851						1.43						1.00			to			1.50						14.68			to			14.11
			2022						26.152			to			34.370						28,277			711,435						1.18						1.00			to			1.50						(19.63)			to			(20.03)
			2021						32.538			to			42.978						38,805			1,222,498						1.06						1.00			to			1.50						23.12			to			22.51
			2020						26.428			to			35.082						45,834			1,171,792						1.48						1.00			to			1.50						16.90			to			16.31
Vanguard Real Estate Index
			2024						19.365			to			28.826						11,929			223,784						3.09						1.00			to			1.50						3.69			to			3.17
			2023						18.675			to			27.939						12,470			225,318						2.42						1.00			to			1.50						10.59			to			10.04
			2022						16.887			to			25.390						12,583			205,523						1.94						1.00			to			1.50						(27.03)			to			(27.39)
			2021						23.142			to			34.969						15,434			346,854						1.73						1.00			to			1.50						38.82			to			38.12
			2020						16.671			to			25.318						16,358			262,741						2.63						1.00			to			1.50						(5.80)			to			(6.27)
Vanguard Total Bond Market Index
			2024						13.824			to			11.054						114,358			1,388,606						2.51						1.00			to			1.50						0.22			to			(0.27)
			2023						13.793			to			11.084						96,598			1,186,646						2.58						1.00			to			1.50						4.53			to			4.01
			2022						13.195			to			10.657						54,088			694,130						2.13						1.00			to			1.50						(14.07)			to			(14.50)
			2021						15.356			to			12.465						63,576			949,137						1.82						1.00			to			1.50						(2.70)			to			(3.18)
			2020						15.782			to			12.874						59,772			914,655						2.39						1.00			to			1.50						6.51			to			5.98

51

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Symetra Separate Account C
Notes to Financial Statements
6.			ACCUMULATION UNIT VALUES (Continued)

									As of December 31,																					For the Year Ended December 31,
Sub-account			Year Ended						Unit Fair Value Corresponding to Lowest to Highest Expense Ratio												Units Outstanding			Net Assets						Net Investment Income Ratio2						Expense Ratio Lowest to Highest3												Total Return Corresponding to Lowest to Highest Expense Ratio4
Vanguard Total Stock Market Index
			2024						$	42.569		to			$53.425						55,649			$	2,331,212					1.01		%				1.00		%	to			1.50		%				22.48		%	to			21.86		%
			2023						34.757			to			43.840						57,859			1,974,628						1.13						1.00			to			1.50						24.70			to			24.08
			2022						27.872			to			35.332						69,103			1,895,012						1.37						1.00			to			1.50						(20.39)			to			(20.79)
			2021						35.011			to			44.603						84,317			2,908,387						1.22						1.00			to			1.50						24.39			to			23.77
			2020						28.146			to			36.038						118,403			3,285,582						1.56						1.00			to			1.50						19.35			to			18.76
Voya Global High Dividend Low Volatility Portfolio - Class S
			2024						48.912			to			41.480						7,777			380,056						2.50						1.40			to			1.45						11.10			to			11.05
			2023						44.024			to			37.353						8,633			378,575						2.71						1.40			to			1.45						4.95			to			4.90
			2022						41.947			to			35.608						9,907			414,078						2.48						1.40			to			1.45						(6.43)			to			(6.48)
			2021						44.829			to			38.074						10,754			479,145						2.29						1.40			to			1.45						18.89			to			18.83
			2020						37.707			to			32.041						11,944			447,805						2.26						1.40			to			1.45						(2.47)			to			(2.52)
VY JPMorgan Emerging Markets Equity Portfolio Initial
			2024						30.060			to			30.060						10,218			307,138						1.11						1.40			to			1.40						0.72			to			0.72
			2023						29.846			to			29.846						13,642			407,160						1.95						1.40			to			1.40						5.33			to			5.33
			2022						28.336			to			28.336						14,430			408,911						—						1.40			to			1.40						(26.92)			to			(26.92)
			2021						38.776			to			38.776						15,535			602,409						—						1.40			to			1.40						(11.10)			to			(11.10)
			2020						43.617			to			43.617						15,820			690,009						0.60						1.40			to			1.40						31.88			to			31.88
Wanger Acorn
			2024						136.370			to			136.370						113			15,464						—						1.40			to			1.40						12.58			to			12.58
			2023						121.129			to			121.129						236			28,639						—						1.40			to			1.40						20.05			to			20.05
			2022						100.900			to			100.900						418			42,179						—						1.40			to			1.40						(34.39)			to			(34.39)
			2021						153.782			to			153.782						445			68,374						0.74						1.40			to			1.40						7.39			to			7.39
			2020						143.206			to			143.206						464			66,449						—						1.40			to			1.40						22.50			to			22.50

1 Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

2These amounts represent the dividends, excluding distributions of capital gains, received by the sub-account from the underlying Mutual Fund, net of management fees assessed by the Mutual Fund manager, divided by the trading days' average net assets. These ratios exclude those expenses, such as mortality and expense risk charges, that result in direct reductions in the Unit values. The recognition of investment income by the sub-account is affected by the timing of the declaration of dividends by the underlying Mutual Fund in which the sub-accounts invest.

3These amounts represent the annualized contract expenses of the Separate Account, consisting primarily of mortality and expense risk charges, for the period indicated. The 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 underlying Mutual Fund are excluded.

4These amounts represent the total return for the periods indicated, including changes in the value of the underlying Mutual Funds, and reflect deductions for all items included in the expense ratio with the exception of Mutual Fund reorganization. Mutual Funds that have reorganized during the year present information through the time of the reorganization. The total return ratio does not include any expenses assessed through the redemption of Units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. The total return is calculated for the period indicated or from the effective commencement date through the end of the reporting period.

52

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Symetra Separate Account C
Notes to Financial Statements

7.SUBSEQUENT EVENTS

The Separate Account has evaluated subsequent events through April 23, 2025, the date which the Separate Account’s financial statements were available to be issued.

53