0001164098-26-000807.txt : 20260424 0001164098-26-000807.hdr.sgml : 20260424 20260424172211 ACCESSION NUMBER: 0001164098-26-000807 CONFORMED SUBMISSION TYPE: N-VPFS PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20251231 FILED AS OF DATE: 20260424 DATE AS OF CHANGE: 20260424 EFFECTIVENESS DATE: 20260424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEPARATE ACCOUNT VA B CENTRAL INDEX KEY: 0000859607 ORGANIZATION NAME: EIN: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-VPFS SEC ACT: 1940 Act SEC FILE NUMBER: 811-06032 FILM NUMBER: 26895834 BUSINESS ADDRESS: STREET 1: 6400 C STREET SW CITY: CEDAR RAPIDS STATE: IA ZIP: 52499 BUSINESS PHONE: 319-355-8366 MAIL ADDRESS: STREET 1: 6400 C STREET SW CITY: CEDAR RAPIDS STATE: IA ZIP: 52499 FORMER COMPANY: FORMER CONFORMED NAME: PFL ENDEAVOR VARIABLE ANNUITY ACCOUNT /NEW/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NN ENDEAVOR VARIABLE ANNUITY ACCOUNT DATE OF NAME CHANGE: 19910331 0000859607 S000006417 SEPARATE ACCOUNT VA B C000017603 Transamerica Landmark Variable Annuity C000017604 Transamerica Freedom Variable Annuity C000017605 Members Landmark Variable Annuity C000124123 Transamerica Variable Annuity Series C000125095 Transamerica Axiom II C000125106 Transamerica Principium III C000125107 Transamerica Advisor Elite II C000125108 Transamerica Income Elite II C000125286 Transamerica Retirement Income Plus C000127795 Members Variable Annuity Series C000127970 Transamerica Extra Variable Annuity C000127971 Members Extra Variable Annuity C000127972 Transamerica Liberty Variable Annuity C000127973 Members Liberty Variable Annuity C000127974 Transamerica Principium II Variable Annuity C000127975 Transamerica Axiom Variable Annuity C000127976 Income Elite Variable Annuity C000127977 Transamerica Advisor Elite Variable Annuity C000128470 Members Freedom Variable Annuity C000128575 Partners Variable Annuity Series C000130280 Transamerica Variable Annuity O-Share C000178598 Transamerica Variable Annuity I-Share C000180728 Transamerica Inspire Variable Annuity C000216251 Transamerica Advisory Annuity C000216269 Transamerica B-Share C000216271 Axiom III C000216272 Principium IV C000216274 Transamerica I-Share II N-VPFS 1 tlicsavab.htm
 
FINANCIAL STATEMENTS
Transamerica Life Insurance Company
Separate Account VA B
Years Ended December 31, 2025 and 2024
 
 
 
 
 
 
 
1
 
 
Transamerica Life Insurance Company
Separate Account VA B
Financial Statements
Years Ended December 31, 2025 and 2024
                   
                   
                   
                   
Report of Independent Registered Public Accounting Firm3
Statement of Assets and Liabilities4
Statements of Operations and Changes in Net Assets13
Notes to Financial Statements51
 
2
 
 
Report of Independent Registered Public Accounting Firm
To the Board of Directors of Transamerica Life Insurance Company and
Contract Owners of Separate Account VA B
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in the table below that comprise Separate Account VA B (the Separate Account), as of December 31, 2025, the related statements of operations and changes in net assets for each of the periods indicated in the table below, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each subaccount as of December 31, 2025, the results of its operations and changes in its net assets for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.
Subaccounts
AB Balanced Hedged Allocation Class B Shares (1)
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class (1)
AB Large Cap Growth Class B Shares (1)
TA BlackRock iShares Edge 100 Service Class (1)
AB Relative Value Class B Shares (1)
TA BlackRock iShares Edge 40 Initial Class (1)
American Funds - Asset Allocation Class 2 Shares (1)
TA BlackRock iShares Edge 40 Service Class (1)
American Funds - Asset Allocation Class 4 Shares (1)
TA BlackRock iShares Edge 50 Service Class (1)
American Funds - Growth Class 2 Shares (1)
TA BlackRock iShares Edge 75 Service Class (1)
American Funds - Growth Class 4 Shares (1)
TA BlackRock iShares Tactical - Balanced Service Class (1)
American Funds - Growth-Income Class 2 Shares (1)
TA BlackRock iShares Tactical - Conservative Service Class (1)
American Funds - Growth-Income Class 4 Shares (1)
TA BlackRock iShares Tactical - Growth Service Class (1)
American Funds - International Class 2 Shares (1)
TA BlackRock Real Estate Securities Initial Class (1)
American Funds - International Class 4 Shares (1)
TA BlackRock Real Estate Securities Service Class (1)
American Funds - New World Class 4 Shares (1)
TA BlackRock Tactical Allocation Service Class (1)
American Funds - The Bond Fund of America Class 2 Shares (1)
TA Goldman Sachs 70/30 Service Class (1)
American Funds - The Bond Fund of America Class 4 Shares (1)
TA Goldman Sachs Managed Risk - Balanced ETF Service Class (1)
BlackRock Basic Value V.I. Class I Shares (1)
TA Goldman Sachs Managed Risk - Conservative ETF Service Class (1)
BlackRock Global Allocation V.I. Class I Shares (1)
TA Goldman Sachs Managed Risk - Growth ETF Service Class (1)
BlackRock High Yield V.I. Class I Shares (1)
TA Great Lakes Advisors Large Cap Value Service Class (1)
Dimensional VA Equity Allocation (1)
TA International Focus Initial Class (1)
Columbia – Acorn (1)
TA International Focus Service Class (1)
Columbia - Acorn International (1)
TA Janus Balanced Service Class (1)
Dimensional VA Global Bond (1)
TA Janus Mid-Cap Growth Initial Class (1)
Dimensional VA Global Moderate Allocation (1)
TA Janus Mid-Cap Growth Service Class (1)
Dimensional VA International Small (1)
TA JPMorgan Asset Allocation - Conservative Initial Class (1)
Dimensional VA International Value (1)
TA JPMorgan Asset Allocation - Conservative Service Class (1)
Dimensional VA Short-Term Fixed (1)
TA JPMorgan Asset Allocation - Moderate Initial Class (1)
Dimensional VA U.S. Large Value (1)
TA JPMorgan Asset Allocation - Moderate Service Class (1)
Dimensional VA U.S. Targeted Value (1)
TA JPMorgan Asset Allocation - Moderate Growth Initial Class (1)
Fidelity® VIP Balanced Service Class 2 (1)
TA JPMorgan Asset Allocation - Moderate Growth Service Class (1)
Fidelity® VIP Consumer Staples Initial Class (1)
TA JPMorgan Diversified Equity Allocation Initial Class (1)
Fidelity® VIP Contrafund® Initial Class (1)
TA JPMorgan Diversified Equity Allocation Service Class (1)
Fidelity® VIP Contrafund® Service Class 2 (1)
TA JPMorgan Enhanced Index Initial Class (1)
Fidelity® VIP Energy Service Class 2 (1)
TA JPMorgan Enhanced Index Service Class (1)
Fidelity® VIP Equity-Income Initial Class (1)
TA JPMorgan International Moderate Growth  Initial Class (1)
Fidelity® VIP Equity-Income Service Class 2 (1)
TA JPMorgan International Moderate Growth Service Class (1)
Fidelity® VIP Growth Initial Class (1)
TA JPMorgan Tactical Allocation Service Class (1)
Fidelity® VIP Growth Service Class 2 (1)
TA Madison Diversified Income Service Class (1)
Fidelity® VIP Growth Opportunities Service Class 2 (1)
TA Market Participation Strategy Service Class (1)
Fidelity® VIP Health Care Service Class 2 (1)
TA Morgan Stanley Global Allocation Service Class (1)
Fidelity® VIP Mid Cap Initial Class (1)
TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class (1)
Fidelity® VIP Mid Cap Service Class 2 (1)
TA MSCI EAFE Index Service Class (1)
Fidelity® VIP Technology Initial Class (1)
TA Multi-Managed Balanced Initial Class (1)
Fidelity® VIP Utilities Initial Class (1)
TA Multi-Managed Balanced Service Class (1)
Fidelity® VIP Value Strategies Initial Class (1)
TA PineBridge Inflation Opportunities Service Class (1)
Fidelity® VIP Value Strategies Service Class 2 (1)
TA ProFunds UltraBear Service Class (OAM) (1)
Franklin Allocation Class 4 Shares (1)
TA S&P 500 Index Initial Class (1)
Franklin Income Class 2 Shares (1)
TA S&P 500 Index Service Class (1)
Franklin Mutual Shares Class 2 Shares (1)
TA Small/Mid Cap Value Initial Class (1)
Franklin Templeton Foreign Class 2 Shares (1)
TA Small/Mid Cap Value Service Class (1)
Invesco V.I. American Franchise Series II Shares (1)
TA T. Rowe Price Small Cap Initial Class (1)
Janus Henderson - Enterprise Service Shares (1)
TA T. Rowe Price Small Cap Service Class (1)
Janus Henderson - Global Research Service Shares (1)
TA TSW International Equity Initial Class (1)
Janus Henderson - Mid Cap Value Service Shares (1)
TA TSW International Equity Service Class (1)
MFS® New Discovery Service Class (1)
TA TSW Mid Cap Value Opportunities Service Class (1)
MFS® Total Return Service Class (1)
TA WMC US Growth Initial Class (1)
NVIT Fidelity Institutional AM® Emerging Markets Class D Shares (1)
TA WMC US Growth Service Class (1)
Putnam VT International Value Class IB Shares (2)
Vanguard® Balanced (1)
State Street Total Return V.I.S. Class 3 Shares (1)
Vanguard® Capital Growth (1)
TA 60/40 Allocation Service Class (1)
Vanguard® Conservative Allocation (1)
TA Aegon Bond Initial Class (1)
Vanguard® Diversified Value (1)
TA Aegon Bond Service Class (1)
Vanguard® Equity Income (1)
TA Aegon Core Bond Service Class (1)
Vanguard® Equity Index (1)
TA Aegon High Yield Bond Initial Class (1)
Vanguard® Global Bond Index (1)
TA Aegon High Yield Bond Service Class (1)
Vanguard® Growth (1)
TA Aegon Sustainable Equity Income Initial Class (1)
Vanguard® High Yield Bond (1)
TA Aegon Sustainable Equity Income Service Class (1)
Vanguard® International (1)
TA Aegon U.S. Government Securities Initial Class (1)
Vanguard® Mid-Cap Index (1)
TA Aegon U.S. Government Securities Service Class (1)
Vanguard® Moderate Allocation (1)
TA American Funds Managed Risk - Balanced Service Class (1)
Vanguard® Money Market (1)
TA BlackRock Government Money Market Initial Class (1)
Vanguard® Real Estate Index (1)
TA BlackRock Government Money Market Service Class (1)
Vanguard® Short-Term Investment Grade (1)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class (1)
Vanguard® Total Bond Market Index (1)
TA BlackRock iShares Active Asset Allocation - Moderate Service Class (1)
Vanguard® Total International Stock Market Index (1)
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class (1)
Vanguard® Total Stock Market Index (1)
TA BlackRock iShares Dynamic Allocation - Balanced Service Class (1)
Voya Global Perspectives Class S Shares (1)
(1)    Statements of operations and changes in net assets for the years ended December 31, 2025 and 2024
(2)    Statements of operations and change in net assets for the period October 20, 2025 through December 31, 2025
 
Basis for Opinion
These financial statements are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on each of the subaccounts’ financial statements 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 are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025, by correspondence with the fund companies or their transfer agents, as applicable. 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. We believe that our audits provide a reasonable basis for our opinion.
/s/ Ernst & Young LLP
We have served as the auditor of the Separate Account since 2024.
 
Chicago, IL
April 24, 2026
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Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
AB Balanced Hedged Allocation Class B Shares 6,205,920.062 $ 58,877,511 $ 61,004,194 $ 83 $ 61,004,277 12,593,517 $ 2.022542 $ 21.303571
AB Large Cap Growth Class B Shares 333,159.813   20,938,927   27,145,862   (184)   27,145,678 4,666,023   5.181282   37.573255
AB Relative Value Class B Shares 7,973,922.093   231,715,712   245,995,497   (83)   245,995,414 36,564,982   2.465914   33.398282
American Funds - Asset Allocation Class 2 Shares 23,253,984.858   557,351,209   629,020,290   (53)   629,020,237 83,794,050   2.901767   28.327959
American Funds - Asset Allocation Class 4 Shares 3,529,808.353   85,953,576   94,492,970   3   94,492,973 5,647,346   16.003760   17.722624
American Funds - Growth Class 2 Shares 7,372,718.998   728,544,654   1,023,333,397   (219)   1,023,333,178 29,598,105   6.457847   66.701992
American Funds - Growth Class 4 Shares 4,376,485.050   475,141,755   588,155,826   62   588,155,888 22,659,871   24.843286   27.510790
American Funds - Growth-Income Class 2 Shares 9,642,554.581   526,567,820   639,108,518   281   639,108,799 25,919,298   4.696852   45.920483
American Funds - Growth-Income Class 4 Shares 3,747,032.771   221,990,261   242,695,313   (1)   242,695,312 10,995,381   21.106891   23.373490
American Funds - International Class 2 Shares 9,124,786.353   173,377,014   202,752,753   (205)   202,752,548 23,782,487   1.571628   19.182486
American Funds - International Class 4 Shares 2,580,364.672   47,818,538   56,329,361   11   56,329,372 3,708,223   14.529353   16.090341
American Funds - New World Class 4 Shares 1,000,049.974   26,965,173   31,711,585   (2)   31,711,583 1,855,255   16.344162   18.099760
American Funds - The Bond Fund of America Class 2 Shares 20,214,406.861   210,147,015   189,408,992   (10)   189,408,982 43,745,813   0.998183   11.902895
American Funds - The Bond Fund of America Class 4 Shares 4,616,445.722   43,191,762   42,979,110   1   42,979,111 4,504,835   9.132508   10.113976
BlackRock Basic Value V.I. Class I Shares 1,413,363.331   18,715,248   19,659,884   (108)   19,659,776 3,529,431   3.948061   18.407759
BlackRock Global Allocation V.I. Class I Shares 461,578.112   7,930,781   8,142,238   (29)   8,142,209 2,578,765   2.777652   15.715026
BlackRock High Yield V.I. Class I Shares 350,493.690   2,501,467   2,467,476   13,310   2,480,786 738,807   2.648121   12.935329
Columbia - Acorn -   -   -   -   - -   3.332842   27.820354
Columbia - Acorn International 14,494.964   333,035   296,277   4   296,281 110,003   1.632209   15.290155
Dimensional VA Equity Allocation 181,102.316   2,649,518   3,339,527   (2)   3,339,525 169,657   19.497199   19.733657
Dimensional VA Global Bond 528,922.729   5,244,154   5,156,997   (3)   5,156,994 515,118   9.368577   10.699317
Dimensional VA Global Moderate Allocation 182,694.620   3,183,131   3,310,427   1   3,310,428 201,196   16.258026   16.455238
Dimensional VA International Small 104,317.476   1,291,496   1,541,812   -   1,541,812 92,280   16.522644   16.723056
Dimensional VA International Value 138,934.887   1,979,954   2,574,463   (2)   2,574,461 127,351   19.993539   20.235978
Dimensional VA Short-Term Fixed 308,043.279   3,156,179   3,101,996   1   3,101,997 275,210   11.146155   11.281478
Dimensional VA U.S. Large Value 98,229.130   3,300,197   3,429,179   -   3,429,179 200,566   16.925122   17.130431
Dimensional VA U.S. Targeted Value 110,559.347   2,505,338   2,463,262   -   2,463,262 127,481   19.113624   19.345420
Fidelity® VIP Balanced Service Class 2 18,965,529.202   400,033,586   482,672,718   (255)   482,672,463 61,586,504   2.860329   32.854436
Fidelity® VIP Consumer Staples Initial Class 461,080.325   8,665,663   8,036,630   (3)   8,036,627 594,888   12.855204   14.236072
Fidelity® VIP Contrafund® Initial Class 2,123.717   100,340   127,189   54   127,243 11,994   5.744778   54.225621
Fidelity® VIP Contrafund® Service Class 2 19,485,469.889   936,116,170   1,107,943,818   81   1,107,943,899 69,030,739   4.497819   53.213164
See accompanying notes
4
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
Fidelity® VIP Energy Service Class 2 894,158.396 $ 23,189,003 $ 24,231,693 $ - $ 24,231,693 824,044 $ 28.142014 $ 31.163081
Fidelity® VIP Equity-Income Initial Class 2,264.986   51,888   66,659   (5)   66,654 17,740   3.366339   21.943693
Fidelity® VIP Equity-Income Service Class 2 1,114,681.870   25,609,008   31,356,001   15   31,356,016 7,913,937   2.527177   21.952402
Fidelity® VIP Growth Initial Class 415.858   34,357   40,638   60   40,698 5,452   7.206631   45.586266
Fidelity® VIP Growth Service Class 2 426,698.418   37,548,839   39,631,749   110   39,631,859 6,132,835   5.416056   42.750063
Fidelity® VIP Growth Opportunities Service Class 2 38,330.115   1,924,813   3,695,023   117   3,695,140 405,505   6.772293   53.157579
Fidelity® VIP Health Care Service Class 2 744,744.491   25,256,262   28,158,789   12   28,158,801 2,093,750   12.825813   14.203878
Fidelity® VIP Mid Cap Initial Class 1,333.431   49,822   50,017   1   50,018 6,377   3.247020   33.020826
Fidelity® VIP Mid Cap Service Class 2 11,004,634.105   385,437,423   387,032,981   (493)   387,032,488 35,265,325   2.875144   32.396161
Fidelity® VIP Technology Initial Class 3,427,571.105   130,605,142   162,946,730   15   162,946,745 5,133,927   30.386014   33.648162
Fidelity® VIP Utilities Initial Class 634,214.609   15,105,658   16,495,922   (3)   16,495,919 864,041   18.216237   20.172850
Fidelity® VIP Value Strategies Initial Class 23,745.715   374,727   378,269   (4)   378,265 33,409   3.458734   31.653324
Fidelity® VIP Value Strategies Service Class 2 14,472,226.351   229,010,747   234,015,900   120   234,016,020 26,709,378   0.703696   31.052664
Franklin Allocation Class 4 Shares 6,749,016.070   34,306,227   39,009,313   (337)   39,008,976 13,527,847   2.002729   15.551191
Franklin Income Class 2 Shares 1,971,914.778   28,657,377   29,894,228   (20)   29,894,208 14,259,275   1.720851   15.849825
Franklin Mutual Shares Class 2 Shares 503,312.576   8,128,424   8,103,332   77   8,103,409 3,980,985   1.712789   15.795100
Franklin Templeton Foreign Class 2 Shares 737,612.029   10,170,835   11,964,067   394   11,964,461 8,704,341   1.179899   14.582863
Invesco V.I. American Franchise Series II Shares 88,515.399   4,984,721   6,368,683   162   6,368,845 1,299,710   4.288743   33.676098
Janus Henderson - Enterprise Service Shares 190,617.882   13,021,040   13,981,822   (301)   13,981,521 3,029,789   3.034907   25.516739
Janus Henderson - Global Research Service Shares 268,325.131   13,902,786   20,505,407   (62)   20,505,345 6,822,924   2.271310   28.605655
Janus Henderson - Mid Cap Value Service Shares 163,326.536   2,538,516   2,740,619   (28)   2,740,591 712,233   2.393457   16.703304
MFS® New Discovery Service Class 1,863,968.158   25,085,314   22,554,015   172   22,554,187 5,037,195   2.742501   21.954799
MFS® Total Return Service Class 1,103,004.165   25,332,660   24,972,014   87   24,972,101 8,859,440   1.961902   16.660402
NVIT Fidelity Institutional AM® Emerging Markets Class D Shares 265.221   2,718   3,878   (1)   3,877 251   13.122306   15.958058
Putnam VT International Value Class IB Shares 17,026.550   267,209   270,041   (1)   270,040 25,779   10.457125   10.495769
State Street Total Return V.I.S. Class 3 Shares 2,370,611.339   36,726,792   40,205,568   24   40,205,592 9,277,234   1.819874   20.565922
TA 60/40 Allocation Service Class 4,783,473.521   60,615,618   70,747,573   54   70,747,627 8,546,193   1.636652   18.761463
TA Aegon Bond Initial Class 11,118,390.111   119,124,868   105,624,706   148   105,624,854 66,477,958   1.079213   10.706424
TA Aegon Bond Service Class 38,689,854.608   422,742,712   363,684,633   (121)   363,684,512 130,152,497   1.040346   11.629030
TA Aegon Core Bond Service Class 16,820,250.374   222,072,670   201,506,599   (48)   201,506,551 35,853,779   0.980257   11.859371
See accompanying notes
5
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
TA Aegon High Yield Bond Initial Class 6,288,161.238   44,986,792   44,331,537   12   44,331,549 15,520,058   1.561270   16.905282
TA Aegon High Yield Bond Service Class 14,800,357.008 $ 107,798,979 $ 107,006,581 $ (26) $ 107,006,555 14,537,501 $ 1.747637 $ 16.479945
TA Aegon Sustainable Equity Income Initial Class 7,945,162.062   151,314,684   180,037,372   19   180,037,391 50,859,174   1.677469   24.396018
TA Aegon Sustainable Equity Income Service Class 4,638,174.043   84,714,312   105,379,314   135   105,379,449 16,234,031   1.763589   23.746206
TA Aegon U.S. Government Securities Initial Class 4,701,737.555   45,204,458   42,174,586   6   42,174,592 29,312,880   0.916222   10.080771
TA Aegon U.S. Government Securities Service Class 11,484,132.886   112,031,223   107,606,325   (107)   107,606,218 35,371,915   0.926287   10.658421
TA American Funds Managed Risk - Balanced Service Class 60,311,339.173   676,224,127   743,638,812   (1,021)   743,637,791 44,634,119   14.414881   18.655299
TA BlackRock Government Money Market Initial Class 103,860,472.133   103,860,468   103,860,472   (574)   103,859,898 97,912,403   0.799281   10.823810
TA BlackRock Government Money Market Service Class 411,364,148.528   411,364,144   411,364,149   (3,859)   411,360,290 116,351,568   0.779954   11.469309
TA BlackRock iShares Active Asset Allocation - Conservative Service Class 17,008,580.930   169,029,675   168,044,780   (189)   168,044,591 49,004,636   1.178681   15.113141
TA BlackRock iShares Active Asset Allocation - Moderate Service Class 66,506,832.946   705,584,312   750,862,144   63   750,862,207 149,806,710   1.279186   15.900755
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class 21,712,786.821   232,883,274   269,021,429   (373)   269,021,056 68,577,192   1.277067   16.412737
TA BlackRock iShares Dynamic Allocation - Balanced Service Class 47,492,581.964   548,112,266   569,436,058   13   569,436,071 84,544,995   1.230058   16.082334
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class 18,509,005.739   226,951,661   258,570,810   (286)   258,570,524 39,038,641   1.508157   18.543579
TA BlackRock iShares Edge 100 Service Class 4,472,450.668   63,430,127   73,929,610   12   73,929,622 3,151,537   18.911459   25.748664
TA BlackRock iShares Edge 40 Initial Class 1,564,380.415   14,459,568   14,423,587   229   14,423,816 6,630,715   1.562414   14.133986
TA BlackRock iShares Edge 40 Service Class 17,836,426.416   163,200,518   163,203,302   (69)   163,203,233 47,653,095   1.233072   16.355479
TA BlackRock iShares Edge 50 Service Class 26,498,658.291   340,581,637   370,981,216   86   370,981,302 23,621,150   13.381238   17.225428
TA BlackRock iShares Edge 75 Service Class 8,396,835.780   119,965,877   132,921,910   95   132,922,005 6,982,051   16.010673   21.038895
TA BlackRock iShares Tactical - Balanced Service Class 25,754,426.121   286,543,571   282,268,510   (197)   282,268,313 58,331,392   1.291871   17.797231
TA BlackRock iShares Tactical - Conservative Service Class 12,470,037.294   137,663,359   129,813,088   (481)   129,812,607 25,429,085   1.159675   16.292568
TA BlackRock iShares Tactical - Growth Service Class 16,595,445.338   176,575,740   192,507,166   267   192,507,433 27,578,332   1.458910   20.992426
TA BlackRock Real Estate Securities Initial Class 2,157,070.920   22,729,405   22,368,825   178   22,369,003 7,353,569   1.180818   14.170976
TA BlackRock Real Estate Securities Service Class 5,390,294.090   59,664,931   60,317,391   (148)   60,317,243 12,111,319   1.113737   13.830821
TA BlackRock Tactical Allocation Service Class 41,883,907.938   618,847,217   682,707,699   277   682,707,976 142,882,040   1.689851   20.893664
TA Goldman Sachs 70/30 Service Class 822,911.477   10,712,861   12,261,381   (1)   12,261,380 717,972   16.308480   18.060055
TA Goldman Sachs Managed Risk - Balanced ETF Service Class 259,793,183.477   3,035,997,932   3,224,033,407   (236)   3,224,033,171 505,482,219   1.362323   18.223874
TA Goldman Sachs Managed Risk - Conservative ETF Service Class 28,848,770.879   345,221,869   343,588,861   (833)   343,588,028 88,725,901   1.273260   16.094062
See accompanying notes
6
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
TA Goldman Sachs Managed Risk - Growth ETF Service Class 125,944,044.991   1,299,526,999   1,481,101,969   (341)   1,481,101,628 304,451,735   1.742675   22.412325
TA Great Lakes Advisors Large Cap Value Service Class 4,685,618.599   59,660,136   75,766,453   (21)   75,766,432 5,699,433   1.780382   20.408781
TA International Focus Initial Class 6,957,468.773 $ 57,266,731 $ 53,155,061 $ (55) $ 53,155,006 25,936,901 $ 1.535837 $ 17.096546
TA International Focus Service Class 10,316,027.537   84,957,981   76,544,924   (172)   76,544,752 10,472,945   1.305358   16.667682
TA Janus Balanced Service Class 42,516,436.221   700,504,847   728,731,717   218   728,731,935 81,530,981   2.215573   28.131621
TA Janus Mid-Cap Growth Initial Class 2,064,517.329   71,089,267   65,176,812   (40)   65,176,772 18,708,161   2.801415   32.138619
TA Janus Mid-Cap Growth Service Class 6,652,569.540   208,046,255   186,538,050   139   186,538,189 11,160,712   2.701069   31.307502
TA JPMorgan Asset Allocation - Conservative Initial Class 10,699,676.391   102,332,043   101,539,929   (3)   101,539,926 47,321,900   1.538791   13.710076
TA JPMorgan Asset Allocation - Conservative Service Class 53,605,352.162   515,925,054   501,210,043   (117)   501,209,926 135,727,067   1.336682   16.050136
TA JPMorgan Asset Allocation - Moderate Initial Class 21,198,475.690   236,081,221   250,142,013   39   250,142,052 97,606,246   1.810042   15.502884
TA JPMorgan Asset Allocation - Moderate Service Class 336,251,759.176   3,734,149,857   3,887,070,336   18   3,887,070,354 646,292,689   1.562157   18.766578
TA JPMorgan Asset Allocation - Moderate Growth Initial Class 29,440,007.530   330,013,765   358,579,292   (90)   358,579,202 115,210,587   2.174645   18.179957
TA JPMorgan Asset Allocation - Moderate Growth Service Class 165,798,116.266   1,809,616,537   1,972,997,584   (140)   1,972,997,444 451,491,732   1.786313   22.838353
TA JPMorgan Diversified Equity Allocation Initial Class 18,794,798.798   212,230,797   251,474,408   265   251,474,673 60,227,351   2.863475   24.220208
TA JPMorgan Diversified Equity Allocation Service Class 18,171,533.526   198,193,363   238,592,235   (147)   238,592,088 26,764,774   2.302130   31.718567
TA JPMorgan Enhanced Index Initial Class 5,782,757.924   138,323,500   169,030,014   (53)   169,029,961 24,314,141   4.495002   50.067165
TA JPMorgan Enhanced Index Service Class 5,192,780.396   131,601,417   150,434,848   22   150,434,870 5,422,257   4.118832   48.788885
TA JPMorgan International Moderate Growth Initial Class -   -   -   -   - -   1.919061   15.314592
TA JPMorgan International Moderate Growth Service Class 29,136,459.693   275,824,111   300,105,535   (103)   300,105,432 110,374,473   1.212138   17.139437
TA JPMorgan Tactical Allocation Service Class 52,390,968.401   780,121,939   742,380,022   (95)   742,379,927 119,783,509   1.294643   15.636929
TA Madison Diversified Income Service Class 8,794,154.904   108,405,034   101,660,431   160   101,660,591 19,822,636   1.510681   16.476858
TA Market Participation Strategy Service Class 21,665,309.315   238,196,638   256,950,568   (115)   256,950,453 33,676,487   1.986413   24.301119
TA Morgan Stanley Global Allocation Service Class 46,116,389.846   636,876,267   661,770,194   (22)   661,770,172 164,520,778   1.730639   20.364133
TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class 25,685,969.563   204,989,282   178,260,629   (296)   178,260,333 14,364,112   10.940005   13.936988
TA MSCI EAFE Index Service Class 6,397,266.126   81,410,733   103,891,602   (3)   103,891,599 6,223,807   14.982515   18.237624
TA Multi-Managed Balanced Initial Class 5,855,577.521   92,883,031   94,274,798   (131)   94,274,667 20,665,299   3.025101   20.879770
TA Multi-Managed Balanced Service Class 56,509,372.746   851,318,668   875,330,184   147   875,330,331 82,996,121   2.295235   28.877748
TA PineBridge Inflation Opportunities Service Class 7,914,598.788   82,906,417   78,512,820   16   78,512,836 30,924,621   0.970175   11.705653
TA ProFunds UltraBear Service Class (OAM) 2,219,661.888   12,329,152   8,878,648   (85)   8,878,563 1,340,128   6.580266   6.719072
TA S&P 500 Index Initial Class 685,665.990   16,395,022   19,466,057   -   19,466,057 1,801,364   1.677234   17.288528
See accompanying notes
7
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
TA S&P 500 Index Service Class 32,180,008.022   652,733,226   905,867,226   192   905,867,418 31,979,561   25.427121   30.949459
TA Small/Mid Cap Value Initial Class 4,319,073.165   82,256,725   83,444,494   62   83,444,556 8,578,949   2.951685   30.357712
TA Small/Mid Cap Value Service Class 9,892,646.189 $ 183,758,742 $ 181,431,131 $ 57 $ 181,431,188 13,964,519 $ 2.844925 $ 29.564740
TA T. Rowe Price Small Cap Initial Class 8,721,179.552   111,568,108   101,340,106   68   101,340,174 20,049,814   3.617374   36.250439
TA T. Rowe Price Small Cap Service Class 37,253,255.104   390,097,591   357,258,716   22   357,258,738 17,959,130   3.489608   35.327965
TA TSW International Equity Initial Class 4,174,680.541   58,528,107   74,392,807   (106)   74,392,701 24,344,780   1.690016   21.350832
TA TSW International Equity Service Class 3,682,280.163   53,741,514   64,808,131   (8)   64,808,123 6,988,010   1.402835   20.784459
TA TSW Mid Cap Value Opportunities Service Class 20,261,412.519   266,418,647   204,235,038   (175)   204,234,863 20,072,747   2.140673   28.283777
TA WMC US Growth Initial Class 18,134,969.468   630,456,888   759,129,822   355   759,130,177 124,073,301   4.820971   62.065672
TA WMC US Growth Service Class 23,336,816.111   749,866,940   906,168,570   131   906,168,701 31,876,502   4.474892   60.458606
Vanguard® Balanced 2,714,070.918   62,679,003   68,964,542   (9)   68,964,533 4,359,547   14.895691   17.010898
Vanguard® Capital Growth 105,106.398   4,953,894   6,497,678   8   6,497,686 292,855   21.953468   22.219752
Vanguard® Conservative Allocation 1,118,560.076   28,102,729   29,597,100   2   29,597,102 2,357,472   11.858895   13.543243
Vanguard® Diversified Value 225,690.054   3,454,791   3,942,805   (1)   3,942,804 192,208   20.291878   20.537957
Vanguard® Equity Income 199,782.079   4,903,724   5,238,286   -   5,238,286 284,729   18.183767   18.404335
Vanguard® Equity Index 282,309.978   16,124,560   23,138,126   -   23,138,126 508,097   5.596682   50.368705
Vanguard® Global Bond Index 88,248.928   1,693,245   1,661,727   (1)   1,661,726 161,946   10.161495   10.284791
Vanguard® Growth 467,789.772   14,176,929   17,158,529   3   17,158,532 710,544   23.875597   24.165176
Vanguard® High Yield Bond 530,108.103   3,769,856   4,002,316   (2)   4,002,314 315,687   12.527486   12.679470
Vanguard® International 375,980.666   9,728,579   10,749,287   (5)   10,749,282 462,077   2.533202   27.895141
Vanguard® Mid-Cap Index 1,944,173.387   48,522,322   54,359,088   (17)   54,359,071 1,719,004   3.719332   34.899932
Vanguard® Moderate Allocation 1,179,891.306   34,792,305   39,266,783   (10)   39,266,773 2,706,005   13.469850   15.382688
Vanguard® Money Market 12,138,626.770   12,138,627   12,138,627   (55)   12,138,572 1,050,423   11.426152   11.564880
Vanguard® Real Estate Index 946,682.816   11,619,255   10,953,120   8   10,953,128 625,218   2.109847   18.404179
Vanguard® Short-Term Investment Grade 1,866,248.718   19,026,808   19,912,874   19   19,912,893 1,730,690   1.245187   12.815922
Vanguard® Total Bond Market Index 2,049,796.240   21,733,531   22,137,799   10   22,137,809 1,941,406   1.193834   11.686815
Vanguard® Total International Stock Market Index 424,698.594   8,906,027   11,407,404   7   11,407,411 709,977   15.892862   16.085656
Vanguard® Total Stock Market Index 487,482.920   24,238,035   29,702,334   16   29,702,350 1,359,962   21.630698   21.893048
Voya Global Perspectives Class S Shares 155.461   1,345   1,466   -   1,466 100   13.377748   14.841159
See accompanying notes
 
8
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
AB Balanced Hedged Allocation Class B Shares $ 60,847,653   $ 156,624   $ 61,004,277
AB Large Cap Growth Class B Shares   26,944,500     201,178     27,145,678
AB Relative Value Class B Shares   238,826,194     7,169,220     245,995,414
American Funds - Asset Allocation Class 2 Shares   628,676,427     343,810     629,020,237
American Funds - Asset Allocation Class 4 Shares   94,492,973     -     94,492,973
American Funds - Growth Class 2 Shares   1,022,991,143     342,035     1,023,333,178
American Funds - Growth Class 4 Shares   588,155,888     -     588,155,888
American Funds - Growth-Income Class 2 Shares   638,972,087     136,712     639,108,799
American Funds - Growth-Income Class 4 Shares   242,695,312     -     242,695,312
American Funds - International Class 2 Shares   202,738,050     14,498     202,752,548
American Funds - International Class 4 Shares   56,329,372     -     56,329,372
American Funds - New World Class 4 Shares   31,711,583     -     31,711,583
American Funds - The Bond Fund of America Class 2 Shares   189,316,065     92,917     189,408,982
American Funds - The Bond Fund of America Class 4 Shares   42,979,111     -     42,979,111
BlackRock Basic Value V.I. Class I Shares   17,708,527     1,951,249     19,659,776
BlackRock Global Allocation V.I. Class I Shares   7,716,527     425,682     8,142,209
BlackRock High Yield V.I. Class I Shares   2,336,650     144,136     2,480,786
Columbia - Acorn   -     -     -
Columbia - Acorn International   296,281     -     296,281
Dimensional VA Equity Allocation   3,339,525     -     3,339,525
Dimensional VA Global Bond   5,156,994     -     5,156,994
Dimensional VA Global Moderate Allocation   3,310,428     -     3,310,428
Dimensional VA International Small   1,541,812     -     1,541,812
Dimensional VA International Value   2,574,461     -     2,574,461
Dimensional VA Short-Term Fixed   3,101,997     -     3,101,997
Dimensional VA U.S. Large Value   3,429,179     -     3,429,179
Dimensional VA U.S. Targeted Value   2,463,262     -     2,463,262
Fidelity® VIP Balanced Service Class 2   482,269,284     403,179     482,672,463
Fidelity® VIP Consumer Staples Initial Class   8,036,627     -     8,036,627
Fidelity® VIP Contrafund® Initial Class   127,243     -     127,243
Fidelity® VIP Contrafund® Service Class 2   1,085,135,422     22,808,477     1,107,943,899
Fidelity® VIP Energy Service Class 2   24,231,693     -     24,231,693
Fidelity® VIP Equity-Income Initial Class   66,654     -     66,654
Fidelity® VIP Equity-Income Service Class 2   31,009,862     346,154     31,356,016
Fidelity® VIP Growth Initial Class   40,698     -     40,698
Fidelity® VIP Growth Service Class 2   39,040,730     591,129     39,631,859
Fidelity® VIP Growth Opportunities Service Class 2   3,427,078     268,062     3,695,140
Fidelity® VIP Health Care Service Class 2   28,158,801     -     28,158,801
Fidelity® VIP Mid Cap Initial Class   50,018     -     50,018
Fidelity® VIP Mid Cap Service Class 2   380,531,628     6,500,860     387,032,488
Fidelity® VIP Technology Initial Class   162,946,745     -     162,946,745
See accompanying notes.
9
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
Fidelity® VIP Utilities Initial Class $ 16,495,919   $ -   $ 16,495,919
Fidelity® VIP Value Strategies Initial Class   322,332     55,933     378,265
Fidelity® VIP Value Strategies Service Class 2   228,640,248     5,375,772     234,016,020
Franklin Allocation Class 4 Shares   39,008,976     -     39,008,976
Franklin Income Class 2 Shares   29,660,692     233,516     29,894,208
Franklin Mutual Shares Class 2 Shares   8,088,540     14,869     8,103,409
Franklin Templeton Foreign Class 2 Shares   11,834,319     130,142     11,964,461
Invesco V.I. American Franchise Series II Shares   6,354,042     14,803     6,368,845
Janus Henderson - Enterprise Service Shares   13,729,952     251,569     13,981,521
Janus Henderson - Global Research Service Shares   20,219,338     286,007     20,505,345
Janus Henderson - Mid Cap Value Service Shares   2,732,409     8,182     2,740,591
MFS® New Discovery Service Class   22,303,999     250,188     22,554,187
MFS® Total Return Service Class   24,792,299     179,802     24,972,101
NVIT Fidelity Institutional AM® Emerging Markets Class D Shares   3,877     -     3,877
Putnam VT International Value Class IB Shares   270,040     -     270,040
State Street Total Return V.I.S. Class 3 Shares   40,189,410     16,182     40,205,592
TA 60/40 Allocation Service Class   70,747,627     -     70,747,627
TA Aegon Bond Initial Class   93,088,976     12,535,878     105,624,854
TA Aegon Bond Service Class   363,263,791     420,721     363,684,512
TA Aegon Core Bond Service Class   201,487,096     19,455     201,506,551
TA Aegon High Yield Bond Initial Class   42,048,998     2,282,551     44,331,549
TA Aegon High Yield Bond Service Class   106,994,222     12,333     107,006,555
TA Aegon Sustainable Equity Income Initial Class   173,693,650     6,343,741     180,037,391
TA Aegon Sustainable Equity Income Service Class   105,269,831     109,618     105,379,449
TA Aegon U.S. Government Securities Initial Class   34,397,380     7,777,212     42,174,592
TA Aegon U.S. Government Securities Service Class   107,128,951     477,267     107,606,218
TA American Funds Managed Risk - Balanced Service Class   743,637,791     -     743,637,791
TA BlackRock Government Money Market Initial Class   78,001,414     25,858,484     103,859,898
TA BlackRock Government Money Market Service Class   410,959,753     400,537     411,360,290
TA BlackRock iShares Active Asset Allocation - Conservative Service Class   167,755,216     289,375     168,044,591
TA BlackRock iShares Active Asset Allocation - Moderate Service Class   750,387,959     474,248     750,862,207
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class   268,664,833     356,223     269,021,056
TA BlackRock iShares Dynamic Allocation - Balanced Service Class   569,009,155     426,916     569,436,071
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class   258,552,923     17,601     258,570,524
TA BlackRock iShares Edge 100 Service Class   73,929,622     -     73,929,622
TA BlackRock iShares Edge 40 Initial Class   13,263,582     1,160,234     14,423,816
TA BlackRock iShares Edge 40 Service Class   162,882,085     321,148     163,203,233
TA BlackRock iShares Edge 50 Service Class   370,981,302     -     370,981,302
TA BlackRock iShares Edge 75 Service Class   132,922,005     -     132,922,005
TA BlackRock iShares Tactical - Balanced Service Class   282,117,424     150,889     282,268,313
TA BlackRock iShares Tactical - Conservative Service Class   129,627,115     185,492     129,812,607
See accompanying notes.
10
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
TA BlackRock iShares Tactical - Growth Service Class $ 192,421,745   $ 85,688   $ 192,507,433
TA BlackRock Real Estate Securities Initial Class   21,235,611     1,133,392     22,369,003
TA BlackRock Real Estate Securities Service Class   60,237,918     79,325     60,317,243
TA BlackRock Tactical Allocation Service Class   674,830,540     7,877,436     682,707,976
TA Goldman Sachs 70/30 Service Class   12,261,380     -     12,261,380
TA Goldman Sachs Managed Risk - Balanced ETF Service Class   3,220,158,680     3,874,491     3,224,033,171
TA Goldman Sachs Managed Risk - Conservative ETF Service Class   340,933,694     2,654,334     343,588,028
TA Goldman Sachs Managed Risk - Growth ETF Service Class   1,477,553,095     3,548,533     1,481,101,628
TA Great Lakes Advisors Large Cap Value Service Class   75,766,432     -     75,766,432
TA International Focus Initial Class   50,741,364     2,413,642     53,155,006
TA International Focus Service Class   76,530,362     14,390     76,544,752
TA Janus Balanced Service Class   728,643,342     88,593     728,731,935
TA Janus Mid-Cap Growth Initial Class   61,531,129     3,645,643     65,176,772
TA Janus Mid-Cap Growth Service Class   186,510,909     27,280     186,538,189
TA JPMorgan Asset Allocation - Conservative Initial Class   86,886,501     14,653,425     101,539,926
TA JPMorgan Asset Allocation - Conservative Service Class   499,668,476     1,541,450     501,209,926
TA JPMorgan Asset Allocation - Moderate Initial Class   213,320,555     36,821,497     250,142,052
TA JPMorgan Asset Allocation - Moderate Service Class   3,883,119,818     3,950,536     3,887,070,354
TA JPMorgan Asset Allocation - Moderate Growth Initial Class   330,811,615     27,767,587     358,579,202
TA JPMorgan Asset Allocation - Moderate Growth Service Class   1,969,720,292     3,277,152     1,972,997,444
TA JPMorgan Diversified Equity Allocation Initial Class   230,365,192     21,109,481     251,474,673
TA JPMorgan Diversified Equity Allocation Service Class   238,590,174     1,914     238,592,088
TA JPMorgan Enhanced Index Initial Class   154,712,713     14,317,248     169,029,961
TA JPMorgan Enhanced Index Service Class   150,434,870     -     150,434,870
TA JPMorgan International Moderate Growth Initial Class   -     -     -
TA JPMorgan International Moderate Growth Service Class   299,042,498     1,062,934     300,105,432
TA JPMorgan Tactical Allocation Service Class   742,102,044     277,883     742,379,927
TA Madison Diversified Income Service Class   101,640,837     19,754     101,660,591
TA Market Participation Strategy Service Class   256,753,786     196,667     256,950,453
TA Morgan Stanley Global Allocation Service Class   658,901,815     2,868,357     661,770,172
TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class   178,260,333     -     178,260,333
TA MSCI EAFE Index Service Class   103,891,599     -     103,891,599
TA Multi-Managed Balanced Initial Class   87,271,519     7,003,148     94,274,667
TA Multi-Managed Balanced Service Class   874,974,354     355,977     875,330,331
TA PineBridge Inflation Opportunities Service Class   78,396,549     116,287     78,512,836
TA ProFunds UltraBear Service Class (OAM)   8,878,563     -     8,878,563
TA S&P 500 Index Initial Class   19,466,057     -     19,466,057
TA S&P 500 Index Service Class   905,867,418     -     905,867,418
TA Small/Mid Cap Value Initial Class   80,312,723     3,131,833     83,444,556
TA Small/Mid Cap Value Service Class   181,423,767     7,421     181,431,188
TA T. Rowe Price Small Cap Initial Class   95,837,818     5,502,356     101,340,174
See accompanying notes.
11
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
TA T. Rowe Price Small Cap Service Class $ 357,121,571   $ 137,167   $ 357,258,738
TA TSW International Equity Initial Class   69,830,185     4,562,516     74,392,701
TA TSW International Equity Service Class   64,753,395     54,728     64,808,123
TA TSW Mid Cap Value Opportunities Service Class   202,493,997     1,740,866     204,234,863
TA WMC US Growth Initial Class   696,517,914     62,612,263     759,130,177
TA WMC US Growth Service Class   905,582,258     586,443     906,168,701
Vanguard® Balanced   68,964,533     -     68,964,533
Vanguard® Capital Growth   6,497,686     -     6,497,686
Vanguard® Conservative Allocation   29,597,102     -     29,597,102
Vanguard® Diversified Value   3,942,804     -     3,942,804
Vanguard® Equity Income   5,238,286     -     5,238,286
Vanguard® Equity Index   23,031,933     106,193     23,138,126
Vanguard® Global Bond Index   1,661,726     -     1,661,726
Vanguard® Growth   17,158,532     -     17,158,532
Vanguard® High Yield Bond   4,002,314     -     4,002,314
Vanguard® International   10,749,282     -     10,749,282
Vanguard® Mid-Cap Index   54,359,071     -     54,359,071
Vanguard® Moderate Allocation   39,266,773     -     39,266,773
Vanguard® Money Market   12,138,572     -     12,138,572
Vanguard® Real Estate Index   10,940,653     12,475     10,953,128
Vanguard® Short-Term Investment Grade   19,842,048     70,845     19,912,893
Vanguard® Total Bond Market Index   22,137,809     -     22,137,809
Vanguard® Total International Stock Market Index   11,407,411     -     11,407,411
Vanguard® Total Stock Market Index   29,702,350     -     29,702,350
Voya Global Perspectives Class S Shares   1,466     -     1,466
See accompanying notes.
12
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        AB Balanced Hedged Allocation Class B Shares AB Large Cap Growth Class B Shares AB Relative Value Class B Shares American Funds - Asset Allocation Class 2 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         67,924,719 $                                         25,855,468 $                                      252,527,102 $                                      655,500,152
               
Investment Income:        
  Reinvested Dividends 1,152,246 - 3,273,828 13,782,874
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,020,730 414,717 3,743,284 10,870,240
    Net Investment Income (Loss) 131,516 (414,717) (469,456) 2,912,634
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,327,235 1,235,892 9,211,829 28,446,610
  Realized Gain (Loss) on Investments (2,068,294) 1,653,050 3,812,408 13,056,630
    Net Realized Capital Gains (Losses) on Investments (741,059) 2,888,942 13,024,237 41,503,240
    Net Change in Unrealized Appreciation (Depreciation) 5,081,731 3,215,651 15,163,906 45,316,755
      Net Gain (Loss) on Investment 4,340,672 6,104,593 28,188,143 86,819,995
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,472,188 5,689,876 27,718,687 89,732,629
               
Increase (Decrease) in Net Assets from Contract Transactions (9,849,610) (3,727,049) (27,715,375) (102,120,502)
               
Total Increase (Decrease) in Net Assets (5,377,422) 1,962,827 3,312 (12,387,873)
               
Net Assets as of December 31, 2024: $                                         62,547,297 $                                         27,818,295 $                                      252,530,414 $                                      643,112,279
               
Investment Income:        
  Reinvested Dividends 1,155,097 - 2,202,586 12,389,341
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 947,093 404,088 3,511,265 10,394,104
    Net Investment Income (Loss) 208,004 (404,088) (1,308,679) 1,995,237
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,201,498 2,601,794 20,567,689 45,109,783
  Realized Gain (Loss) on Investments (1,313,555) 1,622,957 3,596,143 15,718,246
    Net Realized Capital Gains (Losses) on Investments 1,887,943 4,224,751 24,163,832 60,828,029
    Net Change in Unrealized Appreciation (Depreciation) 6,825,168 (968,852) (2,428,072) 19,617,499
      Net Gain (Loss) on Investment 8,713,111 3,255,899 21,735,760 80,445,528
               
Net Increase (Decrease) in Net Assets Resulting from Operations 8,921,115 2,851,811 20,427,081 82,440,765
               
Increase (Decrease) in Net Assets from Contract Transactions (10,464,135) (3,524,428) (26,962,081) (96,532,807)
               
Total Increase (Decrease) in Net Assets (1,543,020) (672,617) (6,535,000) (14,092,042)
               
Net Assets as of December 31, 2025: $                                         61,004,277 $                                         27,145,678 $                                      245,995,414 $                                      629,020,237
See Accompanying Notes.
(1)See Footnote 1
13
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        American Funds - Asset Allocation Class 4 Shares American Funds - Growth Class 2 Shares American Funds - Growth Class 4 Shares American Funds - Growth-Income Class 2 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         51,793,639 $                                      905,289,115 $                                      173,243,164 $                                      623,307,981
               
Investment Income:        
  Reinvested Dividends 1,304,157 3,180,453 436,191 6,987,217
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 878,183 15,479,177 3,490,525 10,378,449
    Net Investment Income (Loss) 425,974 (12,298,724) (3,054,334) (3,391,232)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 2,616,142 22,256,984 5,664,199 29,719,566
  Realized Gain (Loss) on Investments (464,211) 60,256,208 (1,378,724) 35,891,580
    Net Realized Capital Gains (Losses) on Investments 2,151,931 82,513,192 4,285,475 65,611,146
    Net Change in Unrealized Appreciation (Depreciation) 5,498,105 178,367,718 63,002,585 68,552,976
      Net Gain (Loss) on Investment 7,650,036 260,880,910 67,288,060 134,164,122
               
Net Increase (Decrease) in Net Assets Resulting from Operations 8,076,010 248,582,186 64,233,726 130,772,890
               
Increase (Decrease) in Net Assets from Contract Transactions 10,806,792 (145,371,781) 119,884,003 (104,253,033)
               
Total Increase (Decrease) in Net Assets 18,882,802 103,210,405 184,117,729 26,519,857
               
Net Assets as of December 31, 2024: $                                         70,676,441 $                                  1,008,499,520 $                                      357,360,893 $                                      649,827,838
               
Investment Income:        
  Reinvested Dividends 1,589,290 1,554,682 562,425 5,659,605
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,143,227 15,985,471 6,163,477 10,070,204
    Net Investment Income (Loss) 446,063 (14,430,789) (5,601,052) (4,410,599)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 5,560,901 79,449,782 35,202,494 107,504,475
  Realized Gain (Loss) on Investments (211,621) 77,910,703 3,175,214 37,656,048
    Net Realized Capital Gains (Losses) on Investments 5,349,280 157,360,485 38,377,708 145,160,523
    Net Change in Unrealized Appreciation (Depreciation) 4,895,515 26,093,140 46,338,034 (44,851,413)
      Net Gain (Loss) on Investment 10,244,795 183,453,625 84,715,742 100,309,110
               
Net Increase (Decrease) in Net Assets Resulting from Operations 10,690,858 169,022,836 79,114,690 95,898,511
               
Increase (Decrease) in Net Assets from Contract Transactions 13,125,674 (154,189,178) 151,680,305 (106,617,550)
               
Total Increase (Decrease) in Net Assets 23,816,532 14,833,658 230,794,995 (10,719,039)
               
Net Assets as of December 31, 2025: $                                         94,492,973 $                                  1,023,333,178 $                                      588,155,888 $                                      639,108,799
See Accompanying Notes.
(1)See Footnote 1
 
14
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        American Funds - Growth-Income Class 4 Shares American Funds - International Class 2 Shares American Funds - International Class 4 Shares American Funds - New World Class 4 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         88,521,439 $                                      202,507,533 $                                         24,678,048 $                                         13,127,105
               
Investment Income:        
  Reinvested Dividends 1,345,720 2,316,803 338,257 218,816
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,669,500 3,211,209 402,979 228,462
    Net Investment Income (Loss) (323,780) (894,406) (64,722) (9,646)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 5,383,686 - - 76,727
  Realized Gain (Loss) on Investments 405,245 (2,362,266) (785,380) (218,272)
    Net Realized Capital Gains (Losses) on Investments 5,788,931 (2,362,266) (785,380) (141,545)
    Net Change in Unrealized Appreciation (Depreciation) 17,739,434 7,499,803 782,692 748,658
      Net Gain (Loss) on Investment 23,528,365 5,137,537 (2,688) 607,113
               
Net Increase (Decrease) in Net Assets Resulting from Operations 23,204,585 4,243,131 (67,410) 597,467
               
Increase (Decrease) in Net Assets from Contract Transactions 55,254,934 (23,503,302) 9,964,708 5,843,031
               
Total Increase (Decrease) in Net Assets 78,459,519 (19,260,171) 9,897,298 6,440,498
               
Net Assets as of December 31, 2024: $                                      166,980,958 $                                      183,247,362 $                                         34,575,346 $                                         19,567,603
               
Investment Income:        
  Reinvested Dividends 1,604,039 2,506,971 593,091 258,788
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,677,398 3,024,062 589,245 331,280
    Net Investment Income (Loss) (1,073,359) (517,091) 3,846 (72,492)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 32,916,017 - - 947,380
  Realized Gain (Loss) on Investments 949,789 822,158 (745,988) 34,154
    Net Realized Capital Gains (Losses) on Investments 33,865,806 822,158 (745,988) 981,534
    Net Change in Unrealized Appreciation (Depreciation) (1,829,139) 42,359,397 10,692,654 4,699,112
      Net Gain (Loss) on Investment 32,036,667 43,181,555 9,946,666 5,680,646
               
Net Increase (Decrease) in Net Assets Resulting from Operations 30,963,308 42,664,464 9,950,512 5,608,154
               
Increase (Decrease) in Net Assets from Contract Transactions 44,751,046 (23,159,278) 11,803,514 6,535,826
               
Total Increase (Decrease) in Net Assets 75,714,354 19,505,186 21,754,026 12,143,980
               
Net Assets as of December 31, 2025: $                                      242,695,312 $                                      202,752,548 $                                         56,329,372 $                                         31,711,583
See Accompanying Notes.
(1)See Footnote 1
 
15
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        American Funds - The Bond Fund of America Class 2 Shares American Funds - The Bond Fund of America Class 4 Shares BlackRock Basic Value V.I. Class I Shares BlackRock Global Allocation V.I. Class I Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      205,754,769 $                                         23,472,254 $                                         18,096,054 $                                            7,932,144
               
Investment Income:        
  Reinvested Dividends 8,155,782 1,360,854 373,653 103,774
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,223,608 406,968 285,543 122,400
    Net Investment Income (Loss) 4,932,174 953,886 88,110 (18,626)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 1,342,954 486,385
  Realized Gain (Loss) on Investments (5,530,333) (946,978) (72,740) 88,686
    Net Realized Capital Gains (Losses) on Investments (5,530,333) (946,978) 1,270,214 575,071
    Net Change in Unrealized Appreciation (Depreciation) (348,713) 61,459 190,070 25,510
      Net Gain (Loss) on Investment (5,879,046) (885,519) 1,460,284 600,581
               
Net Increase (Decrease) in Net Assets Resulting from Operations (946,872) 68,367 1,548,394 581,955
               
Increase (Decrease) in Net Assets from Contract Transactions (9,447,545) 11,526,669 (1,611,545) (787,173)
               
Total Increase (Decrease) in Net Assets (10,394,417) 11,595,036 (63,151) (205,218)
               
Net Assets as of December 31, 2024: $                                      195,360,352 $                                         35,067,290 $                                         18,032,903 $                                            7,726,926
               
Investment Income:        
  Reinvested Dividends 8,106,503 1,636,108 379,678 265,520
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,092,990 506,705 281,886 119,474
    Net Investment Income (Loss) 5,013,513 1,129,403 97,792 146,046
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 2,297,364 611,996
  Realized Gain (Loss) on Investments (6,983,758) (469,281) (24,533) 88,261
    Net Realized Capital Gains (Losses) on Investments (6,983,758) (469,281) 2,272,831 700,257
    Net Change in Unrealized Appreciation (Depreciation) 12,461,355 1,423,374 1,387,570 448,790
      Net Gain (Loss) on Investment 5,477,597 954,093 3,660,401 1,149,047
               
Net Increase (Decrease) in Net Assets Resulting from Operations 10,491,110 2,083,496 3,758,193 1,295,093
               
Increase (Decrease) in Net Assets from Contract Transactions (16,442,480) 5,828,325 (2,131,320) (879,810)
               
Total Increase (Decrease) in Net Assets (5,951,370) 7,911,821 1,626,873 415,283
               
Net Assets as of December 31, 2025: $                                      189,408,982 $                                         42,979,111 $                                         19,659,776 $                                            8,142,209
See Accompanying Notes.
(1)See Footnote 1
 
16
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        BlackRock High Yield V.I. Class I Shares Columbia - Acorn Columbia - Acorn International Dimensional VA Equity Allocation
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,614,880 $                                                                   - $                                                 169,801 $                                            1,729,713
               
Investment Income:        
  Reinvested Dividends 180,972 - 2,155 38,446
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 38,973 - 789 6,391
    Net Investment Income (Loss) 141,999 - 1,366 32,055
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 24,304
  Realized Gain (Loss) on Investments (16,226) - (6,530) 5,895
    Net Realized Capital Gains (Losses) on Investments (16,226) - (6,530) 30,199
    Net Change in Unrealized Appreciation (Depreciation) 43,062 - (8,934) 194,546
      Net Gain (Loss) on Investment 26,836 - (15,464) 224,745
               
Net Increase (Decrease) in Net Assets Resulting from Operations 168,835 - (14,098) 256,800
               
Increase (Decrease) in Net Assets from Contract Transactions (213,715) - (12,535) 132,636
               
Total Increase (Decrease) in Net Assets (44,880) - (26,633) 389,436
               
Net Assets as of December 31, 2024: $                                            2,570,000 $                                                                   - $                                                 143,168 $                                            2,119,149
               
Investment Income:        
  Reinvested Dividends 171,602 - 2,687 63,565
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 38,170 - 1,020 8,062
    Net Investment Income (Loss) 133,432 - 1,667 55,503
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 5,350 - 712 38,647
  Realized Gain (Loss) on Investments (23,870) - (5,636) 8,458
    Net Realized Capital Gains (Losses) on Investments (18,520) - (4,924) 47,105
    Net Change in Unrealized Appreciation (Depreciation) 70,228 - 13,242 365,812
      Net Gain (Loss) on Investment 51,708 - 8,318 412,917
               
Net Increase (Decrease) in Net Assets Resulting from Operations 185,140 - 9,985 468,420
               
Increase (Decrease) in Net Assets from Contract Transactions (274,354) - 143,128 751,956
               
Total Increase (Decrease) in Net Assets (89,214) - 153,113 1,220,376
               
Net Assets as of December 31, 2025: $                                            2,480,786 $                                                                   - $                                                 296,281 $                                            3,339,525
See Accompanying Notes.
(1)See Footnote 1
 
17
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Dimensional VA Global Bond Dimensional VA Global Moderate Allocation Dimensional VA International Small Dimensional VA International Value
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,909,169 $                                                 712,676 $                                                 859,817 $                                            1,103,871
               
Investment Income:        
  Reinvested Dividends 155,360 36,785 33,744 65,371
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 36,766 3,093 2,560 3,909
    Net Investment Income (Loss) 118,594 33,692 31,184 61,462
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 7,855 26,390 33,738
  Realized Gain (Loss) on Investments (30,411) 2,084 (3,947) 5,743
    Net Realized Capital Gains (Losses) on Investments (30,411) 9,939 22,443 39,481
    Net Change in Unrealized Appreciation (Depreciation) 34,578 68,989 (26,217) (28,616)
      Net Gain (Loss) on Investment 4,167 78,928 (3,774) 10,865
               
Net Increase (Decrease) in Net Assets Resulting from Operations 122,761 112,620 27,410 72,327
               
Increase (Decrease) in Net Assets from Contract Transactions 205,953 637,262 101,518 478,291
               
Total Increase (Decrease) in Net Assets 328,714 749,882 128,928 550,618
               
Net Assets as of December 31, 2024: $                                            3,237,883 $                                            1,462,558 $                                                 988,745 $                                            1,654,489
               
Investment Income:        
  Reinvested Dividends 211,461 80,635 46,516 98,272
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 55,081 5,669 3,567 6,081
    Net Investment Income (Loss) 156,380 74,966 42,949 92,191
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 30,104 56,280 71,534
  Realized Gain (Loss) on Investments (21,080) 126,513 (4,004) 40,619
    Net Realized Capital Gains (Losses) on Investments (21,080) 156,617 52,276 112,153
    Net Change in Unrealized Appreciation (Depreciation) (10,369) 9,999 288,099 579,224
      Net Gain (Loss) on Investment (31,449) 166,616 340,375 691,377
               
Net Increase (Decrease) in Net Assets Resulting from Operations 124,931 241,582 383,324 783,568
               
Increase (Decrease) in Net Assets from Contract Transactions 1,794,180 1,606,288 169,743 136,404
               
Total Increase (Decrease) in Net Assets 1,919,111 1,847,870 553,067 919,972
               
Net Assets as of December 31, 2025: $                                            5,156,994 $                                            3,310,428 $                                            1,541,812 $                                            2,574,461
See Accompanying Notes.
(1)See Footnote 1
 
18
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Dimensional VA Short-Term Fixed Dimensional VA U.S. Large Value Dimensional VA U.S. Targeted Value Fidelity® VIP Balanced Service Class 2
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            1,532,735 $                                       1,594,443 $                                            1,311,280 $                                      474,442,207
               
Investment Income:        
  Reinvested Dividends 127,737 54,108 23,151 8,196,462
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,980 7,389 4,205 6,729,059
    Net Investment Income (Loss) 121,757 46,719 18,946 1,467,403
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 272,615 112,779 16,233,754
  Realized Gain (Loss) on Investments 14,043 26,502 (2,764) 19,171,814
    Net Realized Capital Gains (Losses) on Investments 14,043 299,117 110,015 35,405,568
    Net Change in Unrealized Appreciation (Depreciation) (34,350) (105,891) (15,013) 27,069,570
      Net Gain (Loss) on Investment (20,307) 193,226 95,002 62,475,138
               
Net Increase (Decrease) in Net Assets Resulting from Operations 101,450 239,945 113,948 63,942,541
               
Increase (Decrease) in Net Assets from Contract Transactions 1,044,772 850,564 326,185 (50,160,822)
               
Total Increase (Decrease) in Net Assets 1,146,222 1,090,509 440,133 13,781,719
               
Net Assets as of December 31, 2024: $                                            2,678,957 $                                       2,684,952 $                                            1,751,413 $                                      488,223,926
               
Investment Income:        
  Reinvested Dividends 145,278 61,532 42,735 7,361,987
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 9,773 9,567 5,495 6,537,641
    Net Investment Income (Loss) 135,505 51,965 37,240 824,346
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 192,192 193,341 25,245,139
  Realized Gain (Loss) on Investments 6,140 18,870 (9,735) 21,483,379
    Net Realized Capital Gains (Losses) on Investments 6,140 211,062 183,606 46,728,518
    Net Change in Unrealized Appreciation (Depreciation) (6,871) 186,613 (41,568) 11,880,760
      Net Gain (Loss) on Investment (731) 397,675 142,038 58,609,278
               
Net Increase (Decrease) in Net Assets Resulting from Operations 134,774 449,640 179,278 59,433,624
               
Increase (Decrease) in Net Assets from Contract Transactions 288,266 294,587 532,571 (64,985,087)
               
Total Increase (Decrease) in Net Assets 423,040 744,227 711,849 (5,551,463)
               
Net Assets as of December 31, 2025: $                                            3,101,997 $                                       3,429,179 $                                            2,463,262 $                                      482,672,463
See Accompanying Notes.
(1)See Footnote 1
 
19
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Consumer Staples Initial Class Fidelity® VIP Contrafund® Initial Class Fidelity® VIP Contrafund® Service Class 2 Fidelity® VIP Energy Service Class 2
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            5,142,722 $                                                    95,817 $                                      818,065,180 $                                         17,617,012
               
Investment Income:        
  Reinvested Dividends 135,577 194 311,154 454,172
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 97,227 701 13,146,034 312,773
    Net Investment Income (Loss) 38,350 (507) (12,834,880) 141,399
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 133,134 12,139 116,396,831 -
  Realized Gain (Loss) on Investments 35,140 2,271 65,312,615 701,250
    Net Realized Capital Gains (Losses) on Investments 168,274 14,410 181,709,446 701,250
    Net Change in Unrealized Appreciation (Depreciation) 13,863 14,689 82,676,713 (562,509)
      Net Gain (Loss) on Investment 182,137 29,099 264,386,159 138,741
               
Net Increase (Decrease) in Net Assets Resulting from Operations 220,487 28,592 251,551,279 280,140
               
Increase (Decrease) in Net Assets from Contract Transactions 999,518 (16,315) (71,556,173) 4,478,112
               
Total Increase (Decrease) in Net Assets 1,220,005 12,277 179,995,106 4,758,252
               
Net Assets as of December 31, 2024: $                                            6,362,727 $                                                 108,094 $                                      998,060,286 $                                         22,375,264
               
Investment Income:        
  Reinvested Dividends 154,874 166 - 443,648
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 115,882 773 14,138,641 337,020
    Net Investment Income (Loss) 38,992 (607) (14,138,641) 106,628
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 382,330 18,856 173,795,120 -
  Realized Gain (Loss) on Investments (138,348) 1,556 71,481,958 400,364
    Net Realized Capital Gains (Losses) on Investments 243,982 20,412 245,277,078 400,364
    Net Change in Unrealized Appreciation (Depreciation) (612,320) 2,123 (44,533,285) 1,447,108
      Net Gain (Loss) on Investment (368,338) 22,535 200,743,793 1,847,472
               
Net Increase (Decrease) in Net Assets Resulting from Operations (329,346) 21,928 186,605,152 1,954,100
               
Increase (Decrease) in Net Assets from Contract Transactions 2,003,246 (2,779) (76,721,539) (97,671)
               
Total Increase (Decrease) in Net Assets 1,673,900 19,149 109,883,613 1,856,429
               
Net Assets as of December 31, 2025: $                                            8,036,627 $                                                 127,243 $                                  1,107,943,899 $                                         24,231,693
See Accompanying Notes.
(1)See Footnote 1
 
20
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Equity-Income Initial Class Fidelity® VIP Equity-Income Service Class 2 Fidelity® VIP Growth Initial Class Fidelity® VIP Growth Service Class 2
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                    53,451 $                                         30,367,510 $                                                    31,107 $                                         34,909,236
               
Investment Income:        
  Reinvested Dividends 1,030 487,594 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 410 477,125 277 587,950
    Net Investment Income (Loss) 620 10,469 (277) (587,950)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,357 1,839,936 7,948 8,678,782
  Realized Gain (Loss) on Investments 755 948,251 1,161 2,010,828
    Net Realized Capital Gains (Losses) on Investments 4,112 2,788,187 9,109 10,689,610
    Net Change in Unrealized Appreciation (Depreciation) 2,931 1,134,125 112 (760,132)
      Net Gain (Loss) on Investment 7,043 3,922,312 9,221 9,929,478
               
Net Increase (Decrease) in Net Assets Resulting from Operations 7,663 3,932,781 8,944 9,341,528
               
Increase (Decrease) in Net Assets from Contract Transactions (2,294) (3,765,319) (2,032) (2,917,018)
               
Total Increase (Decrease) in Net Assets 5,369 167,462 6,912 6,424,510
               
Net Assets as of December 31, 2024: $                                                    58,820 $                                         30,534,972 $                                                    38,019 $                                         41,333,746
               
Investment Income:        
  Reinvested Dividends 1,131 492,286 112 19,097
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 436 468,077 293 593,334
    Net Investment Income (Loss) 695 24,209 (181) (574,237)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,490 1,752,358 4,968 5,166,594
  Realized Gain (Loss) on Investments 879 1,496,370 1,210 2,517,324
    Net Realized Capital Gains (Losses) on Investments 4,369 3,248,728 6,178 7,683,918
    Net Change in Unrealized Appreciation (Depreciation) 5,344 1,593,107 (925) (2,285,801)
      Net Gain (Loss) on Investment 9,713 4,841,835 5,253 5,398,117
               
Net Increase (Decrease) in Net Assets Resulting from Operations 10,408 4,866,044 5,072 4,823,880
               
Increase (Decrease) in Net Assets from Contract Transactions (2,574) (4,045,000) (2,393) (6,525,767)
               
Total Increase (Decrease) in Net Assets 7,834 821,044 2,679 (1,701,887)
               
Net Assets as of December 31, 2025: $                                                    66,654 $                                         31,356,016 $                                                    40,698 $                                         39,631,859
See Accompanying Notes.
(1)See Footnote 1
 
21
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Growth Opportunities Service Class 2 Fidelity® VIP Health Care Service Class 2 Fidelity® VIP Mid Cap Initial Class Fidelity® VIP Mid Cap Service Class 2
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,839,309 $                                         16,350,368 $                                                    57,825 $                                      340,699,765
               
Investment Income:        
  Reinvested Dividends - - 365 1,273,815
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 49,633 290,575 419 5,203,672
    Net Investment Income (Loss) (49,633) (290,575) (54) (3,929,857)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 8,451 49,297,151
  Realized Gain (Loss) on Investments 332,924 (52,324) 703 9,235,169
    Net Realized Capital Gains (Losses) on Investments 332,924 (52,324) 9,154 58,532,320
    Net Change in Unrealized Appreciation (Depreciation) 697,664 757,567 460 (2,744,550)
      Net Gain (Loss) on Investment 1,030,588 705,243 9,614 55,787,770
               
Net Increase (Decrease) in Net Assets Resulting from Operations 980,955 414,668 9,560 51,857,913
               
Increase (Decrease) in Net Assets from Contract Transactions (526,022) 4,903,067 2,991 (17,217,945)
               
Total Increase (Decrease) in Net Assets 454,933 5,317,735 12,551 34,639,968
               
Net Assets as of December 31, 2024: $                                            3,294,242 $                                         21,668,103 $                                                    70,376 $                                      375,339,733
               
Investment Income:        
  Reinvested Dividends - 43,817 205 908,842
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 52,488 356,268 436 5,194,537
    Net Investment Income (Loss) (52,488) (312,451) (231) (4,285,695)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 48,449 1,560,758 6,391 44,216,555
  Realized Gain (Loss) on Investments 180,315 (68,077) 3,656 3,995,280
    Net Realized Capital Gains (Losses) on Investments 228,764 1,492,681 10,047 48,211,835
    Net Change in Unrealized Appreciation (Depreciation) 451,685 2,162,794 (2,622) (8,684,664)
      Net Gain (Loss) on Investment 680,449 3,655,475 7,425 39,527,171
               
Net Increase (Decrease) in Net Assets Resulting from Operations 627,961 3,343,024 7,194 35,241,476
               
Increase (Decrease) in Net Assets from Contract Transactions (227,063) 3,147,674 (27,552) (23,548,721)
               
Total Increase (Decrease) in Net Assets 400,898 6,490,698 (20,358) 11,692,755
               
Net Assets as of December 31, 2025: $                                            3,695,140 $                                         28,158,801 $                                                    50,018 $                                      387,032,488
See Accompanying Notes.
(1)See Footnote 1
 
22
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Technology Initial Class Fidelity® VIP Utilities Initial Class Fidelity® VIP Value Strategies Initial Class Fidelity® VIP Value Strategies Service Class 2
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         43,654,201 $                                            5,546,884 $                                                 507,495 $                                      241,899,996
               
Investment Income:        
  Reinvested Dividends - 162,401 4,559 1,892,208
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,245,647 122,924 3,333 3,429,119
    Net Investment Income (Loss) (1,245,647) 39,477 1,226 (1,536,911)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 2,663,299 348,039 63,130 33,750,491
  Realized Gain (Loss) on Investments 3,699,462 115,318 30,217 8,449,711
    Net Realized Capital Gains (Losses) on Investments 6,362,761 463,357 93,347 42,200,202
    Net Change in Unrealized Appreciation (Depreciation) 13,938,097 1,082,555 (48,677) (22,574,048)
      Net Gain (Loss) on Investment 20,300,858 1,545,912 44,670 19,626,154
               
Net Increase (Decrease) in Net Assets Resulting from Operations 19,055,211 1,585,389 45,896 18,089,243
               
Increase (Decrease) in Net Assets from Contract Transactions 37,858,345 2,641,583 (112,399) (18,936,944)
               
Total Increase (Decrease) in Net Assets 56,913,556 4,226,972 (66,503) (847,701)
               
Net Assets as of December 31, 2024: $                                      100,567,757 $                                            9,773,856 $                                                 440,992 $                                      241,052,295
               
Investment Income:        
  Reinvested Dividends - 269,367 4,019 1,795,932
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,176,285 216,821 2,597 3,148,307
    Net Investment Income (Loss) (2,176,285) 52,546 1,422 (1,352,375)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 8,555,499 526,469 15,848 9,195,915
  Realized Gain (Loss) on Investments 6,761,146 403,430 7,988 1,739,707
    Net Realized Capital Gains (Losses) on Investments 15,316,645 929,899 23,836 10,935,622
    Net Change in Unrealized Appreciation (Depreciation) 13,097,617 388,151 657 3,872,612
      Net Gain (Loss) on Investment 28,414,262 1,318,050 24,493 14,808,234
               
Net Increase (Decrease) in Net Assets Resulting from Operations 26,237,977 1,370,596 25,915 13,455,859
               
Increase (Decrease) in Net Assets from Contract Transactions 36,141,011 5,351,467 (88,642) (20,492,134)
               
Total Increase (Decrease) in Net Assets 62,378,988 6,722,063 (62,727) (7,036,275)
               
Net Assets as of December 31, 2025: $                                      162,946,745 $                                         16,495,919 $                                                 378,265 $                                      234,016,020
See Accompanying Notes.
(1)See Footnote 1
 
23
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Franklin Allocation Class 4 Shares Franklin Income Class 2 Shares Franklin Mutual Shares Class 2 Shares Franklin Templeton Foreign Class 2 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         46,977,467 $                                         34,524,329 $                                            8,898,993 $                                         12,776,212
               
Investment Income:        
  Reinvested Dividends 859,193 1,726,540 171,881 293,011
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 760,789 493,681 132,522 186,897
    Net Investment Income (Loss) 98,404 1,232,859 39,359 106,114
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 141,457 178,742 -
  Realized Gain (Loss) on Investments (2,618,975) (387,054) (238,549) 30,857
    Net Realized Capital Gains (Losses) on Investments (2,618,975) (245,597) (59,807) 30,857
    Net Change in Unrealized Appreciation (Depreciation) 5,729,316 843,264 841,089 (383,553)
      Net Gain (Loss) on Investment 3,110,341 597,667 781,282 (352,696)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 3,208,745 1,830,526 820,641 (246,582)
               
Increase (Decrease) in Net Assets from Contract Transactions (7,680,357) (4,890,738) (1,276,233) (1,750,691)
               
Total Increase (Decrease) in Net Assets (4,471,612) (3,060,212) (455,592) (1,997,273)
               
Net Assets as of December 31, 2024: $                                         42,505,855 $                                         31,464,117 $                                            8,443,401 $                                         10,778,939
               
Investment Income:        
  Reinvested Dividends 730,830 1,559,733 163,067 269,455
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 683,207 453,496 122,391 176,362
    Net Investment Income (Loss) 47,623 1,106,237 40,676 93,093
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,631,034 327,850 803,435 752,378
  Realized Gain (Loss) on Investments (1,575,313) (221,391) (166,495) 96,072
    Net Realized Capital Gains (Losses) on Investments 55,721 106,459 636,940 848,450
    Net Change in Unrealized Appreciation (Depreciation) 4,068,256 1,935,002 93,890 1,811,150
      Net Gain (Loss) on Investment 4,123,977 2,041,461 730,830 2,659,600
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,171,600 3,147,698 771,506 2,752,693
               
Increase (Decrease) in Net Assets from Contract Transactions (7,668,479) (4,717,607) (1,111,498) (1,567,171)
               
Total Increase (Decrease) in Net Assets (3,496,879) (1,569,909) (339,992) 1,185,522
               
Net Assets as of December 31, 2025: $                                         39,008,976 $                                         29,894,208 $                                            8,103,409 $                                         11,964,461
See Accompanying Notes.
(1)See Footnote 1
 
24
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Invesco V.I. American Franchise Series II Shares Janus Henderson - Enterprise Service Shares Janus Henderson - Global Research Service Shares Janus Henderson - Mid Cap Value Service Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            5,380,977 $                                         17,081,165 $                                         18,716,834 $                                            2,587,633
               
Investment Income:        
  Reinvested Dividends - 107,278 119,691 23,025
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 91,124 253,402 302,052 39,936
    Net Investment Income (Loss) (91,124) (146,124) (182,361) (16,911)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 758,553 670,446 145,565
  Realized Gain (Loss) on Investments 105,654 861,551 1,834,868 19,281
    Net Realized Capital Gains (Losses) on Investments 105,654 1,620,104 2,505,314 164,846
    Net Change in Unrealized Appreciation (Depreciation) 1,659,554 700,633 1,548,912 137,738
      Net Gain (Loss) on Investment 1,765,208 2,320,737 4,054,226 302,584
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,674,084 2,174,613 3,871,865 285,673
               
Increase (Decrease) in Net Assets from Contract Transactions (596,188) (3,699,709) (2,322,192) (83,306)
               
Total Increase (Decrease) in Net Assets 1,077,896 (1,525,096) 1,549,673 202,367
               
Net Assets as of December 31, 2024: $                                            6,458,873 $                                         15,556,069 $                                         20,266,507 $                                            2,790,000
               
Investment Income:        
  Reinvested Dividends - 26,329 118,774 39,271
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 93,228 219,146 301,917 39,535
    Net Investment Income (Loss) (93,228) (192,817) (183,143) (264)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 647,339 1,253,913 1,798,069 254,662
  Realized Gain (Loss) on Investments 150,173 323,458 2,092,750 16,633
    Net Realized Capital Gains (Losses) on Investments 797,512 1,577,371 3,890,819 271,295
    Net Change in Unrealized Appreciation (Depreciation) (129,523) (588,534) (195,950) (143,252)
      Net Gain (Loss) on Investment 667,989 988,837 3,694,869 128,043
               
Net Increase (Decrease) in Net Assets Resulting from Operations 574,761 796,020 3,511,726 127,779
               
Increase (Decrease) in Net Assets from Contract Transactions (664,789) (2,370,568) (3,272,888) (177,188)
               
Total Increase (Decrease) in Net Assets (90,028) (1,574,548) 238,838 (49,409)
               
Net Assets as of December 31, 2025: $                                            6,368,845 $                                         13,981,521 $                                         20,505,345 $                                            2,740,591
See Accompanying Notes.
(1)See Footnote 1
 
25
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        MFS® New Discovery Service Class MFS® Total Return Service Class NVIT Fidelity Institutional AM® Emerging Markets Class D Shares Putnam VT International Value Class IB Shares
        Subaccount Subaccount Subaccount Subaccount(1)
               
Net Assets as of December 31, 2023: $                                         26,715,569 $                                         27,972,116 $                                                       2,828 $                                                                   -
               
Investment Income:        
  Reinvested Dividends - 627,476 40 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 384,964 405,914 19 -
    Net Investment Income (Loss) (384,964) 221,562 21 -
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 1,345,927 - -
  Realized Gain (Loss) on Investments (3,258,504) 228,490 5 -
    Net Realized Capital Gains (Losses) on Investments (3,258,504) 1,574,417 5 -
    Net Change in Unrealized Appreciation (Depreciation) 4,899,680 (193,959) 124 -
      Net Gain (Loss) on Investment 1,641,176 1,380,458 129 -
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,256,212 1,602,020 150 -
               
Increase (Decrease) in Net Assets from Contract Transactions (4,370,935) (3,838,916) (54) -
               
Total Increase (Decrease) in Net Assets (3,114,723) (2,236,896) 96 -
               
Net Assets as of December 31, 2024: $                                         23,600,846 $                                         25,735,220 $                                                       2,924 $                                                                   -
               
Investment Income:        
  Reinvested Dividends - 627,343 10 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 336,017 370,537 22 116
    Net Investment Income (Loss) (336,017) 256,806 (12) (116)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 1,845,676 - -
  Realized Gain (Loss) on Investments (2,060,752) 135,324 13 6
    Net Realized Capital Gains (Losses) on Investments (2,060,752) 1,981,000 13 6
    Net Change in Unrealized Appreciation (Depreciation) 4,696,712 (14,795) 1,006 2,834
      Net Gain (Loss) on Investment 2,635,960 1,966,205 1,019 2,840
               
Net Increase (Decrease) in Net Assets Resulting from Operations 2,299,943 2,223,011 1,007 2,724
               
Increase (Decrease) in Net Assets from Contract Transactions (3,346,602) (2,986,130) (54) 267,316
               
Total Increase (Decrease) in Net Assets (1,046,659) (763,119) 953 270,040
               
Net Assets as of December 31, 2025: $                                         22,554,187 $                                         24,972,101 $                                                       3,877 $                                                 270,040
See Accompanying Notes.
(1)See Footnote 1
 
26
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        State Street Total Return V.I.S. Class 3 Shares TA 60/40 Allocation Service Class TA Aegon Bond Initial Class TA Aegon Bond Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         38,814,247 $                                         66,957,043 $                                      107,006,368 $                                      447,343,314
               
Investment Income:        
  Reinvested Dividends 1,629,240 1,011,919 4,421,956 16,501,586
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 601,389 827,940 1,678,426 5,619,211
    Net Investment Income (Loss) 1,027,851 183,979 2,743,530 10,882,375
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 7,906 807,633 - -
  Realized Gain (Loss) on Investments (466,447) 2,345,680 (2,700,129) (14,019,706)
    Net Realized Capital Gains (Losses) on Investments (458,541) 3,153,313 (2,700,129) (14,019,706)
    Net Change in Unrealized Appreciation (Depreciation) 2,875,795 3,969,660 463,357 5,407,137
      Net Gain (Loss) on Investment 2,417,254 7,122,973 (2,236,772) (8,612,569)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 3,445,105 7,306,952 506,758 2,269,806
               
Increase (Decrease) in Net Assets from Contract Transactions (4,246,853) (6,419,928) (2,068,509) (51,818,644)
               
Total Increase (Decrease) in Net Assets (801,748) 887,024 (1,561,751) (49,548,838)
               
Net Assets as of December 31, 2024: $                                         38,012,499 $                                         67,844,067 $                                      105,444,617 $                                      397,794,476
               
Investment Income:        
  Reinvested Dividends 859,245 1,446,299 6,839,854 23,462,058
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 589,743 802,164 1,674,661 5,031,531
    Net Investment Income (Loss) 269,502 644,135 5,165,193 18,430,527
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,676,116 3,798,707 - -
  Realized Gain (Loss) on Investments 647,382 2,516,108 (3,367,148) (13,398,758)
    Net Realized Capital Gains (Losses) on Investments 2,323,498 6,314,815 (3,367,148) (13,398,758)
    Net Change in Unrealized Appreciation (Depreciation) 2,350,398 1,661,924 3,786,919 14,899,820
      Net Gain (Loss) on Investment 4,673,896 7,976,739 419,771 1,501,062
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,943,398 8,620,874 5,584,964 19,931,589
               
Increase (Decrease) in Net Assets from Contract Transactions (2,750,305) (5,717,314) (5,404,727) (54,041,553)
               
Total Increase (Decrease) in Net Assets 2,193,093 2,903,560 180,237 (34,109,964)
               
Net Assets as of December 31, 2025: $                                         40,205,592 $                                         70,747,627 $                                      105,624,854 $                                      363,684,512
See Accompanying Notes.
(1)See Footnote 1
 
27
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Aegon Core Bond Service Class TA Aegon High Yield Bond Initial Class TA Aegon High Yield Bond Service Class TA Aegon Sustainable Equity Income Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      228,615,006 $                                         45,902,229 $                                      113,332,925 $                                      180,433,120
               
Investment Income:        
  Reinvested Dividends 10,658,796 2,321,305 5,132,267 3,912,614
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,784,695 691,718 1,487,289 2,827,966
    Net Investment Income (Loss) 7,874,101 1,629,587 3,644,978 1,084,648
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (5,917,544) (625,776) (1,791,257) (107,327)
    Net Realized Capital Gains (Losses) on Investments (5,917,544) (625,776) (1,791,257) (107,327)
    Net Change in Unrealized Appreciation (Depreciation) (2,118,193) 1,587,481 4,197,107 25,682,875
      Net Gain (Loss) on Investment (8,035,737) 961,705 2,405,850 25,575,548
               
Net Increase (Decrease) in Net Assets Resulting from Operations (161,636) 2,591,292 6,050,828 26,660,196
               
Increase (Decrease) in Net Assets from Contract Transactions (14,746,176) (2,424,642) (11,077,773) (20,485,299)
               
Total Increase (Decrease) in Net Assets (14,907,812) 166,650 (5,026,945) 6,174,897
               
Net Assets as of December 31, 2024: $                                      213,707,194 $                                         46,068,879 $                                      108,305,980 $                                      186,608,017
               
Investment Income:        
  Reinvested Dividends 4,413,939 3,078,934 6,917,124 3,103,145
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,568,231 667,510 1,427,879 2,716,097
    Net Investment Income (Loss) 1,845,708 2,411,424 5,489,245 387,048
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 1,772,411
  Realized Gain (Loss) on Investments (7,915,698) (504,197) (926,431) (363,772)
    Net Realized Capital Gains (Losses) on Investments (7,915,698) (504,197) (926,431) 1,408,639
    Net Change in Unrealized Appreciation (Depreciation) 17,028,112 1,040,940 2,400,631 14,924,975
      Net Gain (Loss) on Investment 9,112,414 536,743 1,474,200 16,333,614
               
Net Increase (Decrease) in Net Assets Resulting from Operations 10,958,122 2,948,167 6,963,445 16,720,662
               
Increase (Decrease) in Net Assets from Contract Transactions (23,158,765) (4,685,497) (8,262,870) (23,291,288)
               
Total Increase (Decrease) in Net Assets (12,200,643) (1,737,330) (1,299,425) (6,570,626)
               
Net Assets as of December 31, 2025: $                                      201,506,551 $                                         44,331,549 $                                      107,006,555 $                                      180,037,391
See Accompanying Notes.
(1)See Footnote 1
 
28
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Aegon Sustainable Equity Income Service Class TA Aegon U.S. Government Securities Initial Class TA Aegon U.S. Government Securities Service Class TA American Funds Managed Risk - Balanced Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      104,927,601 $                                         47,656,473 $                                      205,897,859 $                                             820,781,783
               
Investment Income:        
  Reinvested Dividends 1,967,289 1,659,428 5,141,146 13,001,994
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,500,005 745,481 2,362,748 10,814,625
    Net Investment Income (Loss) 467,284 913,947 2,778,398 2,187,369
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 12,307,443
  Realized Gain (Loss) on Investments (690,432) (2,909,695) (8,863,664) 7,336,366
    Net Realized Capital Gains (Losses) on Investments (690,432) (2,909,695) (8,863,664) 19,643,809
    Net Change in Unrealized Appreciation (Depreciation) 15,399,743 1,291,504 4,125,544 78,785,680
      Net Gain (Loss) on Investment 14,709,311 (1,618,191) (4,738,120) 98,429,489
               
Net Increase (Decrease) in Net Assets Resulting from Operations 15,176,595 (704,244) (1,959,722) 100,616,858
               
Increase (Decrease) in Net Assets from Contract Transactions (13,421,992) (2,017,843) (61,500,440) (117,002,170)
               
Total Increase (Decrease) in Net Assets 1,754,603 (2,722,087) (63,460,162) (16,385,312)
               
Net Assets as of December 31, 2024: $                                      106,682,204 $                                         44,934,386 $                                      142,437,697 $                                             804,396,471
               
Investment Income:        
  Reinvested Dividends 1,542,650 1,694,925 4,183,593 12,274,380
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,452,269 721,710 1,730,582 9,950,134
    Net Investment Income (Loss) 90,381 973,215 2,453,011 2,324,246
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,041,360 - - 42,972,354
  Realized Gain (Loss) on Investments 1,455,040 (1,961,727) (5,409,692) 8,658,280
    Net Realized Capital Gains (Losses) on Investments 2,496,400 (1,961,727) (5,409,692) 51,630,634
    Net Change in Unrealized Appreciation (Depreciation) 7,037,196 2,762,214 8,149,222 18,624,620
      Net Gain (Loss) on Investment 9,533,596 800,487 2,739,530 70,255,254
               
Net Increase (Decrease) in Net Assets Resulting from Operations 9,623,977 1,773,702 5,192,541 72,579,500
               
Increase (Decrease) in Net Assets from Contract Transactions (10,926,732) (4,533,496) (40,024,020) (133,338,180)
               
Total Increase (Decrease) in Net Assets (1,302,755) (2,759,794) (34,831,479) (60,758,680)
               
Net Assets as of December 31, 2025: $                                      105,379,449 $                                         42,174,592 $                                      107,606,218 $                                             743,637,791
See Accompanying Notes.
(1)See Footnote 1
 
29
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA BlackRock Government Money Market Initial Class TA BlackRock Government Money Market Service Class TA BlackRock iShares Active Asset Allocation - Conservative Service Class
        Subaccount Subaccount Subaccount
             
Net Assets as of December 31, 2023: $                                      114,069,224 $                                                   581,963,174 $                                              204,995,116
             
Investment Income:      
  Reinvested Dividends 5,432,043 25,081,369 4,339,794
Investment Expense:      
  Mortality and Expense Risk and Administrative Charges 1,813,650 6,992,622 2,498,644
    Net Investment Income (Loss) 3,618,393 18,088,747 1,841,150
             
Increase (Decrease) in Net Assets from Operations:      
  Capital Gain Distributions - - -
  Realized Gain (Loss) on Investments - - (5,237,153)
    Net Realized Capital Gains (Losses) on Investments - - (5,237,153)
    Net Change in Unrealized Appreciation (Depreciation) - - 13,387,066
      Net Gain (Loss) on Investment - - 8,149,913
             
Net Increase (Decrease) in Net Assets Resulting from Operations 3,618,393 18,088,747 9,991,063
             
Increase (Decrease) in Net Assets from Contract Transactions (12,589,980) (114,821,984) (30,865,936)
             
Total Increase (Decrease) in Net Assets (8,971,587) (96,733,237) (20,874,873)
             
Net Assets as of December 31, 2024: $                                      105,097,637 $                                                   485,229,937 $                                              184,120,243
             
Investment Income:      
  Reinvested Dividends 4,059,166 17,140,372 4,368,640
Investment Expense:      
  Mortality and Expense Risk and Administrative Charges 1,726,182 5,914,457 2,186,610
    Net Investment Income (Loss) 2,332,984 11,225,915 2,182,030
             
Increase (Decrease) in Net Assets from Operations:      
  Capital Gain Distributions - - -
  Realized Gain (Loss) on Investments - - (3,082,245)
    Net Realized Capital Gains (Losses) on Investments - - (3,082,245)
    Net Change in Unrealized Appreciation (Depreciation) - - 12,978,873
      Net Gain (Loss) on Investment - - 9,896,628
             
Net Increase (Decrease) in Net Assets Resulting from Operations 2,332,984 11,225,915 12,078,658
             
Increase (Decrease) in Net Assets from Contract Transactions (3,570,723) (85,095,562) (28,154,310)
             
Total Increase (Decrease) in Net Assets (1,237,739) (73,869,647) (16,075,652)
             
Net Assets as of December 31, 2025: $                                      103,859,898 $                                                   411,360,290 $                                              168,044,591
See Accompanying Notes.
(1)See Footnote 1
 
30
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA BlackRock iShares Active Asset Allocation - Moderate Service Class TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class TA BlackRock iShares Dynamic Allocation - Balanced Service Class
        Subaccount Subaccount Subaccount
             
Net Assets as of December 31, 2023: $                                                   869,676,856 $                                                       305,012,048 $                                                674,821,416
             
Investment Income:      
  Reinvested Dividends 15,484,201 4,724,959 12,808,522
Investment Expense:      
  Mortality and Expense Risk and Administrative Charges 11,133,169 4,118,276 8,568,108
    Net Investment Income (Loss) 4,351,032 606,683 4,240,414
             
Increase (Decrease) in Net Assets from Operations:      
  Capital Gain Distributions - - -
  Realized Gain (Loss) on Investments (15,403,827) 2,297,530 (7,457,067)
    Net Realized Capital Gains (Losses) on Investments (15,403,827) 2,297,530 (7,457,067)
    Net Change in Unrealized Appreciation (Depreciation) 74,733,251 29,105,194 50,653,731
      Net Gain (Loss) on Investment 59,329,424 31,402,724 43,196,664
             
Net Increase (Decrease) in Net Assets Resulting from Operations 63,680,456 32,009,407 47,437,078
             
Increase (Decrease) in Net Assets from Contract Transactions (112,687,699) (45,881,187) (99,023,866)
             
Total Increase (Decrease) in Net Assets (49,007,243) (13,871,780) (51,586,788)
             
Net Assets as of December 31, 2024: $                                                   820,669,613 $                                                       291,140,268 $                                                623,234,628
             
Investment Income:      
  Reinvested Dividends 16,851,923 4,833,236 13,767,816
Investment Expense:      
  Mortality and Expense Risk and Administrative Charges 10,036,742 3,671,757 7,624,875
    Net Investment Income (Loss) 6,815,181 1,161,479 6,142,941
             
Increase (Decrease) in Net Assets from Operations:      
  Capital Gain Distributions - - -
  Realized Gain (Loss) on Investments (4,457,887) 5,685,469 (1,353,488)
    Net Realized Capital Gains (Losses) on Investments (4,457,887) 5,685,469 (1,353,488)
    Net Change in Unrealized Appreciation (Depreciation) 57,397,808 16,840,404 40,448,513
      Net Gain (Loss) on Investment 52,939,921 22,525,873 39,095,025
             
Net Increase (Decrease) in Net Assets Resulting from Operations 59,755,102 23,687,352 45,237,966
             
Increase (Decrease) in Net Assets from Contract Transactions (129,562,508) (45,806,564) (99,036,523)
             
Total Increase (Decrease) in Net Assets (69,807,406) (22,119,212) (53,798,557)
             
Net Assets as of December 31, 2025: $                                                   750,862,207 $                                                       269,021,056 $                                                569,436,071
See Accompanying Notes.
(1)See Footnote 1
 
31
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class TA BlackRock iShares Edge 100 Service Class TA BlackRock iShares Edge 40 Initial Class TA BlackRock iShares Edge 40 Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                    302,181,696 $                                     61,143,111 $                                         14,792,197 $                                      190,887,402
               
Investment Income:        
  Reinvested Dividends 4,824,690 915,057 398,259 4,458,344
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,048,086 777,725 227,923 2,464,581
    Net Investment Income (Loss) 776,604 137,332 170,336 1,993,763
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 1,398,865 222,134 2,759,641
  Realized Gain (Loss) on Investments 1,886,089 297,538 (166,170) (2,078,164)
    Net Realized Capital Gains (Losses) on Investments 1,886,089 1,696,403 55,964 681,477
    Net Change in Unrealized Appreciation (Depreciation) 28,984,573 6,415,197 528,111 6,657,863
      Net Gain (Loss) on Investment 30,870,662 8,111,600 584,075 7,339,340
               
Net Increase (Decrease) in Net Assets Resulting from Operations 31,647,266 8,248,932 754,411 9,333,103
               
Increase (Decrease) in Net Assets from Contract Transactions (48,576,666) (1,095,738) (1,558,131) (28,308,549)
               
Total Increase (Decrease) in Net Assets (16,929,400) 7,153,194 (803,720) (18,975,446)
               
Net Assets as of December 31, 2024: $                                                    285,252,296 $                                     68,296,305 $                                         13,988,477 $                                      171,911,956
               
Investment Income:        
  Reinvested Dividends 5,139,984 1,014,336 441,428 4,672,260
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,581,211 822,713 219,695 2,242,388
    Net Investment Income (Loss) 1,558,773 191,623 221,733 2,429,872
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 3,012,768 512,353 5,964,438
  Realized Gain (Loss) on Investments 5,204,714 1,288,080 (44,116) (1,543,855)
    Net Realized Capital Gains (Losses) on Investments 5,204,714 4,300,848 468,237 4,420,583
    Net Change in Unrealized Appreciation (Depreciation) 15,660,096 6,647,431 662,799 9,062,670
      Net Gain (Loss) on Investment 20,864,810 10,948,279 1,131,036 13,483,253
               
Net Increase (Decrease) in Net Assets Resulting from Operations 22,423,583 11,139,902 1,352,769 15,913,125
               
Increase (Decrease) in Net Assets from Contract Transactions (49,105,355) (5,506,585) (917,430) (24,621,848)
               
Total Increase (Decrease) in Net Assets (26,681,772) 5,633,317 435,339 (8,708,723)
               
Net Assets as of December 31, 2025: $                                                    258,570,524 $                                     73,929,622 $                                         14,423,816 $                                      163,203,233
See Accompanying Notes.
(1)See Footnote 1
 
32
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA BlackRock iShares Edge 50 Service Class TA BlackRock iShares Edge 75 Service Class TA BlackRock iShares Tactical - Balanced Service Class TA BlackRock iShares Tactical - Conservative Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      399,153,677 $                                      134,912,823 $                                      333,250,811 $                                      161,481,375
               
Investment Income:        
  Reinvested Dividends 8,462,547 2,512,493 11,407,153 5,487,206
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,619,619 1,692,389 4,326,040 2,042,452
    Net Investment Income (Loss) 3,842,928 820,104 7,081,113 3,444,754
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 5,604,875 3,751,930 - -
  Realized Gain (Loss) on Investments 6,829,272 2,534,680 (10,115,524) (5,997,278)
    Net Realized Capital Gains (Losses) on Investments 12,434,147 6,286,610 (10,115,524) (5,997,278)
    Net Change in Unrealized Appreciation (Depreciation) 9,176,877 5,769,556 25,683,095 9,841,125
      Net Gain (Loss) on Investment 21,611,024 12,056,166 15,567,571 3,843,847
               
Net Increase (Decrease) in Net Assets Resulting from Operations 25,453,952 12,876,270 22,648,684 7,288,601
               
Increase (Decrease) in Net Assets from Contract Transactions (48,867,664) (16,252,956) (54,981,244) (26,500,132)
               
Total Increase (Decrease) in Net Assets (23,413,712) (3,376,686) (32,332,560) (19,211,531)
               
Net Assets as of December 31, 2024: $                                      375,739,965 $                                      131,536,137 $                                      300,918,251 $                                      142,269,844
               
Investment Income:        
  Reinvested Dividends 9,035,561 2,534,547 9,274,563 4,457,426
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,374,084 1,642,510 3,884,957 1,791,017
    Net Investment Income (Loss) 4,661,477 892,037 5,389,606 2,666,409
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 12,223,341 6,239,698 - -
  Realized Gain (Loss) on Investments 7,285,237 3,359,083 (6,971,681) (3,972,427)
    Net Realized Capital Gains (Losses) on Investments 19,508,578 9,598,781 (6,971,681) (3,972,427)
    Net Change in Unrealized Appreciation (Depreciation) 15,382,004 6,810,596 32,890,598 13,125,616
      Net Gain (Loss) on Investment 34,890,582 16,409,377 25,918,917 9,153,189
               
Net Increase (Decrease) in Net Assets Resulting from Operations 39,552,059 17,301,414 31,308,523 11,819,598
               
Increase (Decrease) in Net Assets from Contract Transactions (44,310,722) (15,915,546) (49,958,461) (24,276,835)
               
Total Increase (Decrease) in Net Assets (4,758,663) 1,385,868 (18,649,938) (12,457,237)
               
Net Assets as of December 31, 2025: $                                      370,981,302 $                                      132,922,005 $                                      282,268,313 $                                      129,812,607
See Accompanying Notes.
(1)See Footnote 1
 
33
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA BlackRock iShares Tactical - Growth Service Class TA BlackRock Real Estate Securities Initial Class TA BlackRock Real Estate Securities Service Class TA BlackRock Tactical Allocation Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      216,586,241 $                                         23,618,963 $                                         65,908,004 $                                      821,349,625
               
Investment Income:        
  Reinvested Dividends 7,597,682 499,005 1,116,325 11,985,078
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,916,210 347,438 862,483 11,063,829
    Net Investment Income (Loss) 4,681,472 151,567 253,842 921,249
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (6,726,142) (716,634) (2,275,109) (8,881,823)
    Net Realized Capital Gains (Losses) on Investments (6,726,142) (716,634) (2,275,109) (8,881,823)
    Net Change in Unrealized Appreciation (Depreciation) 22,874,924 532,361 1,911,682 91,870,231
      Net Gain (Loss) on Investment 16,148,782 (184,273) (363,427) 82,988,408
               
Net Increase (Decrease) in Net Assets Resulting from Operations 20,830,254 (32,706) (109,585) 83,909,657
               
Increase (Decrease) in Net Assets from Contract Transactions (35,259,688) (1,446,939) (5,305,301) (152,673,261)
               
Total Increase (Decrease) in Net Assets (14,429,434) (1,479,645) (5,414,886) (68,763,604)
               
Net Assets as of December 31, 2024: $                                      202,156,807 $                                         22,139,318 $                                         60,493,118 $                                      752,586,021
               
Investment Income:        
  Reinvested Dividends 5,775,222 406,075 854,247 14,292,757
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,658,384 335,839 812,446 9,785,316
    Net Investment Income (Loss) 3,116,838 70,236 41,801 4,507,441
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (2,592,525) (379,064) (1,212,258) 1,730,307
    Net Realized Capital Gains (Losses) on Investments (2,592,525) (379,064) (1,212,258) 1,730,307
    Net Change in Unrealized Appreciation (Depreciation) 25,099,088 1,980,103 5,677,057 61,959,813
      Net Gain (Loss) on Investment 22,506,563 1,601,039 4,464,799 63,690,120
               
Net Increase (Decrease) in Net Assets Resulting from Operations 25,623,401 1,671,275 4,506,600 68,197,561
               
Increase (Decrease) in Net Assets from Contract Transactions (35,272,775) (1,441,590) (4,682,475) (138,075,606)
               
Total Increase (Decrease) in Net Assets (9,649,374) 229,685 (175,875) (69,878,045)
               
Net Assets as of December 31, 2025: $                                      192,507,433 $                                         22,369,003 $                                         60,317,243 $                                      682,707,976
See Accompanying Notes.
(1)See Footnote 1
 
34
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Goldman Sachs 70/30 Service Class TA Goldman Sachs Managed Risk - Balanced ETF Service Class TA Goldman Sachs Managed Risk - Conservative ETF Service Class TA Goldman Sachs Managed Risk - Growth ETF Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            4,086,431 $                                  3,804,945,152 $                                      417,072,948 $                                  1,719,739,409
               
Investment Income:        
  Reinvested Dividends 65,676 80,071,661 9,589,545 30,328,607
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 60,956 45,939,508 4,976,196 22,385,723
    Net Investment Income (Loss) 4,720 34,132,153 4,613,349 7,942,884
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 92,097 42,730,693 15,127,490 20,394,381
  Realized Gain (Loss) on Investments (5,710) 15,036,899 (2,986,926) 49,512,240
    Net Realized Capital Gains (Losses) on Investments 86,387 57,767,592 12,140,564 69,906,621
    Net Change in Unrealized Appreciation (Depreciation) 407,880 185,071,643 4,028,523 111,911,006
      Net Gain (Loss) on Investment 494,267 242,839,235 16,169,087 181,817,627
               
Net Increase (Decrease) in Net Assets Resulting from Operations 498,987 276,971,388 20,782,436 189,760,511
               
Increase (Decrease) in Net Assets from Contract Transactions 1,688,230 (594,290,051) (66,689,287) (299,619,064)
               
Total Increase (Decrease) in Net Assets 2,187,217 (317,318,663) (45,906,851) (109,858,553)
               
Net Assets as of December 31, 2024: $                                            6,273,648 $                                  3,487,626,489 $                                      371,166,097 $                                  1,609,880,856
               
Investment Income:        
  Reinvested Dividends 115,837 83,128,145 9,797,376 28,937,627
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 121,224 41,166,516 4,454,124 19,990,270
    Net Investment Income (Loss) (5,387) 41,961,629 5,343,252 8,947,357
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 241,686 136,667,429 3,946,532 91,904,105
  Realized Gain (Loss) on Investments 204,978 29,822,159 (3,365,498) 52,925,795
    Net Realized Capital Gains (Losses) on Investments 446,664 166,489,588 581,034 144,829,900
    Net Change in Unrealized Appreciation (Depreciation) 1,210,175 87,560,143 23,407,713 (141,731)
      Net Gain (Loss) on Investment 1,656,839 254,049,731 23,988,747 144,688,169
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,651,452 296,011,360 29,331,999 153,635,526
               
Increase (Decrease) in Net Assets from Contract Transactions 4,336,280 (559,604,678) (56,910,068) (282,414,754)
               
Total Increase (Decrease) in Net Assets 5,987,732 (263,593,318) (27,578,069) (128,779,228)
               
Net Assets as of December 31, 2025: $                                         12,261,380 $                                  3,224,033,171 $                                      343,588,028 $                                  1,481,101,628
See Accompanying Notes.
(1)See Footnote 1
 
35
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Great Lakes Advisors Large Cap Value Service Class TA International Focus Initial Class TA International Focus Service Class TA Janus Balanced Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         53,852,977 $                                         58,522,612 $                                         87,960,039 $                                      829,945,620
               
Investment Income:        
  Reinvested Dividends 539,350 1,359,571 1,854,701 13,984,003
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 763,878 889,376 1,166,218 11,216,755
    Net Investment Income (Loss) (224,528) 470,195 688,483 2,767,248
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 2,722,542 1,872,227 2,857,242 19,039,404
  Realized Gain (Loss) on Investments 1,503,177 (275,704) 678,527 29,575,451
    Net Realized Capital Gains (Losses) on Investments 4,225,719 1,596,523 3,535,769 48,614,855
    Net Change in Unrealized Appreciation (Depreciation) 4,351,041 (3,293,551) (6,184,578) 52,625,926
      Net Gain (Loss) on Investment 8,576,760 (1,697,028) (2,648,809) 101,240,781
               
Net Increase (Decrease) in Net Assets Resulting from Operations 8,352,232 (1,226,833) (1,960,326) 104,008,029
               
Increase (Decrease) in Net Assets from Contract Transactions 1,437,320 (3,641,707) (5,070,943) (141,386,089)
               
Total Increase (Decrease) in Net Assets 9,789,552 (4,868,540) (7,031,269) (37,378,060)
               
Net Assets as of December 31, 2024: $                                         63,642,529 $                                         53,654,072 $                                         80,928,770 $                                      792,567,560
               
Investment Income:        
  Reinvested Dividends 552,142 959,060 1,196,025 14,020,360
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 837,272 834,296 1,070,386 10,161,608
    Net Investment Income (Loss) (285,130) 124,764 125,639 3,858,752
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,484,649 5,676,852 8,372,174 91,742,776
  Realized Gain (Loss) on Investments 2,703,402 (640,768) (91,812) 20,026,915
    Net Realized Capital Gains (Losses) on Investments 4,188,051 5,036,084 8,280,362 111,769,691
    Net Change in Unrealized Appreciation (Depreciation) 9,785,307 (2,517,267) (4,353,627) (31,242,490)
      Net Gain (Loss) on Investment 13,973,358 2,518,817 3,926,735 80,527,201
               
Net Increase (Decrease) in Net Assets Resulting from Operations 13,688,228 2,643,581 4,052,374 84,385,953
               
Increase (Decrease) in Net Assets from Contract Transactions (1,564,325) (3,142,647) (8,436,392) (148,221,578)
               
Total Increase (Decrease) in Net Assets 12,123,903 (499,066) (4,384,018) (63,835,625)
               
Net Assets as of December 31, 2025: $                                         75,766,432 $                                         53,155,006 $                                         76,544,752 $                                      728,731,935
See Accompanying Notes.
(1)See Footnote 1
 
36
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Janus Mid-Cap Growth Initial Class TA Janus Mid-Cap Growth Service Class TA JPMorgan Asset Allocation - Conservative Initial Class TA JPMorgan Asset Allocation - Conservative Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         65,869,315 $                                      174,973,421 $                                      106,961,227 $                                      613,717,801
               
Investment Income:        
  Reinvested Dividends 85,188 - 2,124,658 10,262,375
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,002,955 2,433,811 1,690,568 7,766,154
    Net Investment Income (Loss) (917,767) (2,433,811) 434,090 2,496,221
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,809,565 12,065,214 - -
  Realized Gain (Loss) on Investments (453,620) (6,081,884) (3,547,912) (20,264,359)
    Net Realized Capital Gains (Losses) on Investments 3,355,945 5,983,330 (3,547,912) (20,264,359)
    Net Change in Unrealized Appreciation (Depreciation) 5,448,917 18,239,988 7,315,849 41,764,291
      Net Gain (Loss) on Investment 8,804,862 24,223,318 3,767,937 21,499,932
               
Net Increase (Decrease) in Net Assets Resulting from Operations 7,887,095 21,789,507 4,202,027 23,996,153
               
Increase (Decrease) in Net Assets from Contract Transactions (9,270,549) (10,049,634) (8,613,787) (92,187,139)
               
Total Increase (Decrease) in Net Assets (1,383,454) 11,739,873 (4,411,760) (68,190,986)
               
Net Assets as of December 31, 2024: $                                         64,485,861 $                                      186,713,294 $                                      102,549,467 $                                      545,526,815
               
Investment Income:        
  Reinvested Dividends 5,758 - 4,002,009 19,254,697
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 987,652 2,387,494 1,631,044 6,860,798
    Net Investment Income (Loss) (981,894) (2,387,494) 2,370,965 12,393,899
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 7,527,872 23,421,001 - -
  Realized Gain (Loss) on Investments (1,098,396) (4,973,804) (2,372,862) (15,425,871)
    Net Realized Capital Gains (Losses) on Investments 6,429,476 18,447,197 (2,372,862) (15,425,871)
    Net Change in Unrealized Appreciation (Depreciation) (1,397,130) (4,573,608) 8,556,090 47,004,558
      Net Gain (Loss) on Investment 5,032,346 13,873,589 6,183,228 31,578,687
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,050,452 11,486,095 8,554,193 43,972,586
               
Increase (Decrease) in Net Assets from Contract Transactions (3,359,541) (11,661,200) (9,563,734) (88,289,475)
               
Total Increase (Decrease) in Net Assets 690,911 (175,105) (1,009,541) (44,316,889)
               
Net Assets as of December 31, 2025: $                                         65,176,772 $                                      186,538,189 $                                      101,539,926 $                                      501,209,926
See Accompanying Notes.
(1)See Footnote 1
 
37
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA JPMorgan Asset Allocation - Moderate Initial Class TA JPMorgan Asset Allocation - Moderate Service Class TA JPMorgan Asset Allocation - Moderate Growth Initial Class TA JPMorgan Asset Allocation - Moderate Growth Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      251,588,954 $                                  4,423,308,426 $                                      366,205,798 $                                  2,308,388,180
               
Investment Income:        
  Reinvested Dividends 4,004,409 57,871,142 4,452,540 21,700,737
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,044,944 54,778,429 5,751,147 31,994,054
    Net Investment Income (Loss) (40,535) 3,092,713 (1,298,607) (10,293,317)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (3,197,697) (68,935,057) (7,249,792) (66,329,814)
    Net Realized Capital Gains (Losses) on Investments (3,197,697) (68,935,057) (7,249,792) (66,329,814)
    Net Change in Unrealized Appreciation (Depreciation) 18,759,655 335,550,516 41,559,658 276,774,353
      Net Gain (Loss) on Investment 15,561,958 266,615,459 34,309,866 210,444,539
               
Net Increase (Decrease) in Net Assets Resulting from Operations 15,521,423 269,708,172 33,011,259 200,151,222
               
Increase (Decrease) in Net Assets from Contract Transactions (19,830,646) (579,894,295) (40,669,838) (379,826,336)
               
Total Increase (Decrease) in Net Assets (4,309,223) (310,186,123) (7,658,579) (179,675,114)
               
Net Assets as of December 31, 2024: $                                      247,279,731 $                                  4,113,122,303 $                                      358,547,219 $                                  2,128,713,066
               
Investment Income:        
  Reinvested Dividends 8,135,705 121,420,797 9,544,844 49,564,885
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,962,088 49,815,546 5,507,900 28,566,359
    Net Investment Income (Loss) 4,173,617 71,605,251 4,036,944 20,998,526
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (1,508,065) (30,594,901) (3,666,760) (44,169,549)
    Net Realized Capital Gains (Losses) on Investments (1,508,065) (30,594,901) (3,666,760) (44,169,549)
    Net Change in Unrealized Appreciation (Depreciation) 21,002,434 339,878,110 37,751,888 237,174,560
      Net Gain (Loss) on Investment 19,494,369 309,283,209 34,085,128 193,005,011
               
Net Increase (Decrease) in Net Assets Resulting from Operations 23,667,986 380,888,460 38,122,072 214,003,537
               
Increase (Decrease) in Net Assets from Contract Transactions (20,805,665) (606,940,409) (38,090,089) (369,719,159)
               
Total Increase (Decrease) in Net Assets 2,862,321 (226,051,949) 31,983 (155,715,622)
               
Net Assets as of December 31, 2025: $                                      250,142,052 $                                  3,887,070,354 $                                      358,579,202 $                                  1,972,997,444
See Accompanying Notes.
(1)See Footnote 1
 
38
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA JPMorgan Diversified Equity Allocation Initial Class TA JPMorgan Diversified Equity Allocation Service Class TA JPMorgan Enhanced Index Initial Class TA JPMorgan Enhanced Index Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      225,809,768 $                                      217,776,216 $                                      136,224,374 $                                      113,074,541
               
Investment Income:        
  Reinvested Dividends 3,173,397 2,607,769 1,000,548 611,166
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,714,855 3,119,240 2,336,705 1,709,922
    Net Investment Income (Loss) (541,458) (511,471) (1,336,157) (1,098,756)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 4,425,570 4,348,962 4,931,195 4,222,050
  Realized Gain (Loss) on Investments (1,749,628) (2,977,051) 5,557,428 5,136,947
    Net Realized Capital Gains (Losses) on Investments 2,675,942 1,371,911 10,488,623 9,358,997
    Net Change in Unrealized Appreciation (Depreciation) 29,821,203 30,200,897 20,832,265 16,798,309
      Net Gain (Loss) on Investment 32,497,145 31,572,808 31,320,888 26,157,306
               
Net Increase (Decrease) in Net Assets Resulting from Operations 31,955,687 31,061,337 29,984,731 25,058,550
               
Increase (Decrease) in Net Assets from Contract Transactions (18,111,509) (17,280,571) (11,210,858) 1,286,758
               
Total Increase (Decrease) in Net Assets 13,844,178 13,780,766 18,773,873 26,345,308
               
Net Assets as of December 31, 2024: $                                      239,653,946 $                                      231,556,982 $                                      154,998,247 $                                      139,419,849
               
Investment Income:        
  Reinvested Dividends 3,532,484 2,849,318 1,117,602 709,001
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,758,370 3,076,303 2,445,432 1,850,730
    Net Investment Income (Loss) (225,886) (226,985) (1,327,830) (1,141,729)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 6,718,720 6,515,085 18,727,970 17,309,420
  Realized Gain (Loss) on Investments (88,723) 2,529,597 4,186,925 8,133,213
    Net Realized Capital Gains (Losses) on Investments 6,629,997 9,044,682 22,914,895 25,442,633
    Net Change in Unrealized Appreciation (Depreciation) 32,691,159 28,374,375 292,598 (4,935,879)
      Net Gain (Loss) on Investment 39,321,156 37,419,057 23,207,493 20,506,754
               
Net Increase (Decrease) in Net Assets Resulting from Operations 39,095,270 37,192,072 21,879,663 19,365,025
               
Increase (Decrease) in Net Assets from Contract Transactions (27,274,543) (30,156,966) (7,847,949) (8,350,004)
               
Total Increase (Decrease) in Net Assets 11,820,727 7,035,106 14,031,714 11,015,021
               
Net Assets as of December 31, 2025: $                                      251,474,673 $                                      238,592,088 $                                      169,029,961 $                                      150,434,870
See Accompanying Notes.
(1)See Footnote 1
 
39
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA JPMorgan International Moderate Growth Initial Class TA JPMorgan International Moderate Growth Service Class TA JPMorgan Tactical Allocation Service Class TA Madison Diversified Income Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 109,080 $                                                 353,188,989 $                                            905,816,088 $                                             123,863,084
               
Investment Income:        
  Reinvested Dividends 2,746 6,983,489 20,013,621 2,884,866
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 510 4,725,308 10,446,490 1,522,417
    Net Investment Income (Loss) 2,236 2,258,181 9,567,131 1,362,449
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments 59 (4,037,184) (10,788,489) (4,275,485)
    Net Realized Capital Gains (Losses) on Investments 59 (4,037,184) (10,788,489) (4,275,485)
    Net Change in Unrealized Appreciation (Depreciation) (589) 4,325,589 25,843,329 5,363,563
      Net Gain (Loss) on Investment (530) 288,405 15,054,840 1,088,078
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,706 2,546,586 24,621,971 2,450,527
               
Increase (Decrease) in Net Assets from Contract Transactions 1,813 (50,925,782) (124,313,901) (18,205,139)
               
Total Increase (Decrease) in Net Assets 3,519 (48,379,196) (99,691,930) (15,754,612)
               
Net Assets as of December 31, 2024: $                                                 112,599 $                                                 304,809,793 $                                            806,124,158 $                                             108,108,472
               
Investment Income:        
  Reinvested Dividends - 9,370,565 21,778,398 2,849,131
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 121 4,270,192 9,274,843 1,374,525
    Net Investment Income (Loss) (121) 5,100,373 12,503,555 1,474,606
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments 6,492 (2,329,982) (9,222,684) (3,232,912)
    Net Realized Capital Gains (Losses) on Investments 6,492 (2,329,982) (9,222,684) (3,232,912)
    Net Change in Unrealized Appreciation (Depreciation) 409 42,550,778 52,600,836 7,723,626
      Net Gain (Loss) on Investment 6,901 40,220,796 43,378,152 4,490,714
               
Net Increase (Decrease) in Net Assets Resulting from Operations 6,780 45,321,169 55,881,707 5,965,320
               
Increase (Decrease) in Net Assets from Contract Transactions (119,379) (50,025,530) (119,625,938) (12,413,201)
               
Total Increase (Decrease) in Net Assets (112,599) (4,704,361) (63,744,231) (6,447,881)
               
Net Assets as of December 31, 2025: $                                                                   - $                                                 300,105,432 $                                            742,379,927 $                                             101,660,591
See Accompanying Notes.
(1)See Footnote 1
 
40
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Market Participation Strategy Service Class TA Morgan Stanley Global Allocation Service Class TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class TA MSCI EAFE Index Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      301,574,446 $                                      774,704,522 $                                              207,865,302 $                                         63,337,424
               
Investment Income:        
  Reinvested Dividends 4,459,156 33,598,918 - 1,692,815
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,098,208 10,184,604 2,579,700 960,714
    Net Investment Income (Loss) 360,948 23,414,314 (2,579,700) 732,101
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (6,862,982) (6,583,876) (12,989,977) 1,406,854
    Net Realized Capital Gains (Losses) on Investments (6,862,982) (6,583,876) (12,989,977) 1,406,854
    Net Change in Unrealized Appreciation (Depreciation) 44,049,838 23,293,921 23,158,088 (1,428,939)
      Net Gain (Loss) on Investment 37,186,856 16,710,045 10,168,111 (22,085)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 37,547,804 40,124,359 7,588,411 710,016
               
Increase (Decrease) in Net Assets from Contract Transactions (55,874,501) (126,425,465) (27,285,507) 10,486,466
               
Total Increase (Decrease) in Net Assets (18,326,697) (86,301,106) (19,697,096) 11,196,482
               
Net Assets as of December 31, 2024: $                                      283,247,749 $                                      688,403,416 $                                              188,168,206 $                                         74,533,906
               
Investment Income:        
  Reinvested Dividends 3,307,998 40,216,583 20,621,222 1,863,356
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,649,645 9,255,220 2,342,280 1,202,427
    Net Investment Income (Loss) (341,647) 30,961,363 18,278,942 660,929
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 9,415,926 - - -
  Realized Gain (Loss) on Investments (664,780) 664,011 (14,122,729) 3,876,000
    Net Realized Capital Gains (Losses) on Investments 8,751,146 664,011 (14,122,729) 3,876,000
    Net Change in Unrealized Appreciation (Depreciation) 13,112,033 67,826,451 17,681,967 17,410,039
      Net Gain (Loss) on Investment 21,863,179 68,490,462 3,559,238 21,286,039
               
Net Increase (Decrease) in Net Assets Resulting from Operations 21,521,532 99,451,825 21,838,180 21,946,968
               
Increase (Decrease) in Net Assets from Contract Transactions (47,818,828) (126,085,069) (31,746,053) 7,410,725
               
Total Increase (Decrease) in Net Assets (26,297,296) (26,633,244) (9,907,873) 29,357,693
               
Net Assets as of December 31, 2025: $                                      256,950,453 $                                      661,770,172 $                                              178,260,333 $                                      103,891,599
See Accompanying Notes.
(1)See Footnote 1
 
41
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Multi-Managed Balanced Initial Class TA Multi-Managed Balanced Service Class TA PineBridge Inflation Opportunities Service Class TA ProFunds UltraBear Service Class (OAM)
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         89,828,718 $                                  1,057,526,501 $                                      112,871,493 $                                                                   -
               
Investment Income:        
  Reinvested Dividends 1,804,022 17,460,022 3,328,168 343,149
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,422,485 13,332,613 1,375,732 71,600
    Net Investment Income (Loss) 381,537 4,127,409 1,952,436 271,549
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,932,012 43,790,466 - -
  Realized Gain (Loss) on Investments 1,229,470 32,432,732 (1,596,953) (327,555)
    Net Realized Capital Gains (Losses) on Investments 5,161,482 76,223,198 (1,596,953) (327,555)
    Net Change in Unrealized Appreciation (Depreciation) 5,925,327 48,983,135 64,153 (999,201)
      Net Gain (Loss) on Investment 11,086,809 125,206,333 (1,532,800) (1,326,756)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 11,468,346 129,333,742 419,636 (1,055,207)
               
Increase (Decrease) in Net Assets from Contract Transactions (8,994,868) (220,713,065) (22,673,578) 11,307,624
               
Total Increase (Decrease) in Net Assets 2,473,478 (91,379,323) (22,253,942) 10,252,417
               
Net Assets as of December 31, 2024: $                                         92,302,196 $                                      966,147,178 $                                         90,617,551 $                                         10,252,417
               
Investment Income:        
  Reinvested Dividends 1,943,905 16,949,612 2,759,752 241,505
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,425,833 11,731,386 1,146,734 146,599
    Net Investment Income (Loss) 518,072 5,218,226 1,613,018 94,906
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 11,512,650 115,644,420 - -
  Realized Gain (Loss) on Investments 1,363,629 18,554,561 (1,703,521) (1,049,069)
    Net Realized Capital Gains (Losses) on Investments 12,876,279 134,198,981 (1,703,521) (1,049,069)
    Net Change in Unrealized Appreciation (Depreciation) (3,456,968) (42,993,857) 3,412,322 (2,451,304)
      Net Gain (Loss) on Investment 9,419,311 91,205,124 1,708,801 (3,500,373)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 9,937,383 96,423,350 3,321,819 (3,405,467)
               
Increase (Decrease) in Net Assets from Contract Transactions (7,964,912) (187,240,197) (15,426,534) 2,031,613
               
Total Increase (Decrease) in Net Assets 1,972,471 (90,816,847) (12,104,715) (1,373,854)
               
Net Assets as of December 31, 2025: $                                         94,274,667 $                                      875,330,331 $                                         78,512,836 $                                            8,878,563
See Accompanying Notes.
(1)See Footnote 1
 
42
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA S&P 500 Index Initial Class TA S&P 500 Index Service Class TA Small/Mid Cap Value Initial Class TA Small/Mid Cap Value Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            1,726,833 $                                      490,582,631 $                                         88,584,896 $                                      177,182,928
               
Investment Income:        
  Reinvested Dividends 62,759 4,737,646 815,488 1,359,602
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 15,972 8,313,950 1,280,857 2,402,079
    Net Investment Income (Loss) 46,787 (3,576,304) (465,369) (1,042,477)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 125,929 11,565,351 2,729,030 5,967,039
  Realized Gain (Loss) on Investments 101,342 26,278,019 359,162 1,335,821
    Net Realized Capital Gains (Losses) on Investments 227,271 37,843,370 3,088,192 7,302,860
    Net Change in Unrealized Appreciation (Depreciation) 680,024 84,562,101 3,608,294 6,199,076
      Net Gain (Loss) on Investment 907,295 122,405,471 6,696,486 13,501,936
               
Net Increase (Decrease) in Net Assets Resulting from Operations 954,082 118,829,167 6,231,117 12,459,459
               
Increase (Decrease) in Net Assets from Contract Transactions 10,285,318 114,074,186 (10,160,543) (8,813,166)
               
Total Increase (Decrease) in Net Assets 11,239,400 232,903,353 (3,929,426) 3,646,293
               
Net Assets as of December 31, 2024: $                                         12,966,233 $                                      723,485,984 $                                         84,655,470 $                                      180,829,221
               
Investment Income:        
  Reinvested Dividends 151,602 5,795,542 1,021,041 1,870,233
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 45,005 10,890,828 1,189,541 2,312,461
    Net Investment Income (Loss) 106,597 (5,095,286) (168,500) (442,228)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 85,369 4,111,555 8,553,016 19,514,400
  Realized Gain (Loss) on Investments 372,537 47,561,555 40,222 2,194,169
    Net Realized Capital Gains (Losses) on Investments 457,906 51,673,110 8,593,238 21,708,569
    Net Change in Unrealized Appreciation (Depreciation) 2,188,638 75,058,049 (1,980,454) (7,398,780)
      Net Gain (Loss) on Investment 2,646,544 126,731,159 6,612,784 14,309,789
               
Net Increase (Decrease) in Net Assets Resulting from Operations 2,753,141 121,635,873 6,444,284 13,867,561
               
Increase (Decrease) in Net Assets from Contract Transactions 3,746,683 60,745,561 (7,655,198) (13,265,594)
               
Total Increase (Decrease) in Net Assets 6,499,824 182,381,434 (1,210,914) 601,967
               
Net Assets as of December 31, 2025: $                                         19,466,057 $                                      905,867,418 $                                         83,444,556 $                                      181,431,188
See Accompanying Notes.
(1)See Footnote 1
 
43
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA T. Rowe Price Small Cap Initial Class TA T. Rowe Price Small Cap Service Class TA TSW International Equity Initial Class TA TSW International Equity Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      104,976,029 $                                      329,615,518 $                                         67,677,253 $                                         52,560,455
               
Investment Income:        
  Reinvested Dividends - - 1,922,400 1,438,250
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,630,721 4,585,561 1,000,429 698,714
    Net Investment Income (Loss) (1,630,721) (4,585,561) 921,971 739,536
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,782,213 14,455,337 - -
  Realized Gain (Loss) on Investments (4,617,580) (22,279,664) 969,839 1,494,874
    Net Realized Capital Gains (Losses) on Investments (835,367) (7,824,327) 969,839 1,494,874
    Net Change in Unrealized Appreciation (Depreciation) 13,846,074 48,469,270 (654,582) (1,256,653)
      Net Gain (Loss) on Investment 13,010,707 40,644,943 315,257 238,221
               
Net Increase (Decrease) in Net Assets Resulting from Operations 11,379,986 36,059,382 1,237,228 977,757
               
Increase (Decrease) in Net Assets from Contract Transactions (12,932,916) (16,914,439) (5,745,219) (3,199,530)
               
Total Increase (Decrease) in Net Assets (1,552,930) 19,144,943 (4,507,991) (2,221,773)
               
Net Assets as of December 31, 2024: $                                      103,423,099 $                                      348,760,461 $                                         63,169,262 $                                         50,338,682
               
Investment Income:        
  Reinvested Dividends - - 1,549,340 1,239,604
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,495,452 4,489,135 1,041,731 759,421
    Net Investment Income (Loss) (1,495,452) (4,489,135) 507,609 480,183
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 15,323,341 63,693,811 3,337,071 2,950,349
  Realized Gain (Loss) on Investments (4,404,027) (24,074,467) 1,838,850 3,011,338
    Net Realized Capital Gains (Losses) on Investments 10,919,314 39,619,344 5,175,921 5,961,687
    Net Change in Unrealized Appreciation (Depreciation) (1,371,448) (6,283,177) 12,182,137 8,523,593
      Net Gain (Loss) on Investment 9,547,866 33,336,167 17,358,058 14,485,280
               
Net Increase (Decrease) in Net Assets Resulting from Operations 8,052,414 28,847,032 17,865,667 14,965,463
               
Increase (Decrease) in Net Assets from Contract Transactions (10,135,339) (20,348,755) (6,642,228) (496,022)
               
Total Increase (Decrease) in Net Assets (2,082,925) 8,498,277 11,223,439 14,469,441
               
Net Assets as of December 31, 2025: $                                      101,340,174 $                                      357,258,738 $                                         74,392,701 $                                         64,808,123
See Accompanying Notes.
(1)See Footnote 1
 
44
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA TSW Mid Cap Value Opportunities Service Class TA WMC US Growth Initial Class TA WMC US Growth Service Class Vanguard® Balanced
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                      220,560,051 $                                      647,727,797 $                                      743,992,798 $                                         36,028,930
               
Investment Income:        
  Reinvested Dividends 2,681,831 78,663 - 896,170
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,959,991 10,924,346 10,913,481 633,914
    Net Investment Income (Loss) (278,160) (10,845,683) (10,913,481) 262,256
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 35,950,484 64,061,504 79,179,709 1,938,245
  Realized Gain (Loss) on Investments (2,692,722) 19,897,542 14,955,090 (665,692)
    Net Realized Capital Gains (Losses) on Investments 33,257,762 83,959,046 94,134,799 1,272,553
    Net Change in Unrealized Appreciation (Depreciation) (18,661,826) 94,710,257 111,729,173 3,307,806
      Net Gain (Loss) on Investment 14,595,936 178,669,303 205,863,972 4,580,359
               
Net Increase (Decrease) in Net Assets Resulting from Operations 14,317,776 167,823,620 194,950,491 4,842,615
               
Increase (Decrease) in Net Assets from Contract Transactions (24,161,336) (77,606,199) (70,491,881) 5,221,085
               
Total Increase (Decrease) in Net Assets (9,843,560) 90,217,421 124,458,610 10,063,700
               
Net Assets as of December 31, 2024: $                                      210,716,491 $                                      737,945,218 $                                      868,451,408 $                                         46,092,630
               
Investment Income:        
  Reinvested Dividends 2,107,465 - - 1,078,060
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,734,324 11,124,166 11,220,334 865,011
    Net Investment Income (Loss) (626,859) (11,124,166) (11,220,334) 213,049
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 54,493,019 117,155,746 147,429,315 4,617,649
  Realized Gain (Loss) on Investments (9,023,863) 17,148,724 23,691,512 (318,666)
    Net Realized Capital Gains (Losses) on Investments 45,469,156 134,304,470 171,120,827 4,298,983
    Net Change in Unrealized Appreciation (Depreciation) (29,291,874) (14,857,423) (31,209,380) 3,174,791
      Net Gain (Loss) on Investment 16,177,282 119,447,047 139,911,447 7,473,774
               
Net Increase (Decrease) in Net Assets Resulting from Operations 15,550,423 108,322,881 128,691,113 7,686,823
               
Increase (Decrease) in Net Assets from Contract Transactions (22,032,051) (87,137,922) (90,973,820) 15,185,080
               
Total Increase (Decrease) in Net Assets (6,481,628) 21,184,959 37,717,293 22,871,903
               
Net Assets as of December 31, 2025: $                                      204,234,863 $                                      759,130,177 $                                      906,168,701 $                                         68,964,533
See Accompanying Notes.
(1)See Footnote 1
 
45
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Vanguard® Capital Growth Vanguard® Conservative Allocation Vanguard® Diversified Value Vanguard® Equity Income
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            3,486,754 $                                         12,627,161 $                                            2,720,876 $                                            2,822,945
               
Investment Income:        
  Reinvested Dividends 42,280 362,746 47,573 79,181
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 11,846 205,123 9,050 8,860
    Net Investment Income (Loss) 30,434 157,623 38,523 70,321
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 77,282 307,466 171,950 166,917
  Realized Gain (Loss) on Investments 18,363 (108,813) 7,671 (74,521)
    Net Realized Capital Gains (Losses) on Investments 95,645 198,653 179,621 92,396
    Net Change in Unrealized Appreciation (Depreciation) 327,943 454,509 188,562 215,429
      Net Gain (Loss) on Investment 423,588 653,162 368,183 307,825
               
Net Increase (Decrease) in Net Assets Resulting from Operations 454,022 810,785 406,706 378,146
               
Increase (Decrease) in Net Assets from Contract Transactions 247,441 2,633,422 (32,002) 1,201,499
               
Total Increase (Decrease) in Net Assets 701,463 3,444,207 374,704 1,579,645
               
Net Assets as of December 31, 2024: $                                            4,188,217 $                                         16,071,368 $                                            3,095,580 $                                            4,402,590
               
Investment Income:        
  Reinvested Dividends 54,080 630,820 49,392 112,111
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 16,453 391,932 9,706 13,113
    Net Investment Income (Loss) 37,627 238,888 39,686 98,998
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 232,369 738,960 258,275 340,794
  Realized Gain (Loss) on Investments 313,751 (99,112) (17,191) 180,901
    Net Realized Capital Gains (Losses) on Investments 546,120 639,848 241,084 521,695
    Net Change in Unrealized Appreciation (Depreciation) 950,574 1,748,186 251,586 114,041
      Net Gain (Loss) on Investment 1,496,694 2,388,034 492,670 635,736
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,534,321 2,626,922 532,356 734,734
               
Increase (Decrease) in Net Assets from Contract Transactions 775,148 10,898,812 314,868 100,962
               
Total Increase (Decrease) in Net Assets 2,309,469 13,525,734 847,224 835,696
               
Net Assets as of December 31, 2025: $                                            6,497,686 $                                         29,597,102 $                                            3,942,804 $                                            5,238,286
See Accompanying Notes.
(1)See Footnote 1
 
46
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Vanguard® Equity Index Vanguard® Global Bond Index Vanguard® Growth Vanguard® High Yield Bond
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         17,100,972 $                                            1,058,304 $                                            4,920,201 $                                            2,133,574
               
Investment Income:        
  Reinvested Dividends 244,391 31,168 15,715 122,085
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 67,615 3,437 21,574 7,640
    Net Investment Income (Loss) 176,776 27,731 (5,859) 114,445
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 698,698 1,160 - -
  Realized Gain (Loss) on Investments 325,343 (7,783) 36,169 (29,635)
    Net Realized Capital Gains (Losses) on Investments 1,024,041 (6,623) 36,169 (29,635)
    Net Change in Unrealized Appreciation (Depreciation) 2,881,847 (573) 1,785,673 79,584
      Net Gain (Loss) on Investment 3,905,888 (7,196) 1,821,842 49,949
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,082,664 20,535 1,815,983 164,394
               
Increase (Decrease) in Net Assets from Contract Transactions (1,416,922) 107,611 8,923,116 1,343,545
               
Total Increase (Decrease) in Net Assets 2,665,742 128,146 10,739,099 1,507,939
               
Net Assets as of December 31, 2024: $                                         19,766,714 $                                            1,186,450 $                                         15,659,300 $                                            3,641,513
               
Investment Income:        
  Reinvested Dividends 218,118 42,725 33,957 250,999
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 73,370 4,368 45,376 10,859
    Net Investment Income (Loss) 144,748 38,357 (11,419) 240,140
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 420,275 2,605 919,000 -
  Realized Gain (Loss) on Investments 440,463 (4,188) 69,443 16,679
    Net Realized Capital Gains (Losses) on Investments 860,738 (1,583) 988,443 16,679
    Net Change in Unrealized Appreciation (Depreciation) 2,372,132 39,397 1,478,183 85,297
      Net Gain (Loss) on Investment 3,232,870 37,814 2,466,626 101,976
               
Net Increase (Decrease) in Net Assets Resulting from Operations 3,377,618 76,171 2,455,207 342,116
               
Increase (Decrease) in Net Assets from Contract Transactions (6,206) 399,105 (955,975) 18,685
               
Total Increase (Decrease) in Net Assets 3,371,412 475,276 1,499,232 360,801
               
Net Assets as of December 31, 2025: $                                         23,138,126 $                                            1,661,726 $                                         17,158,532 $                                            4,002,314
See Accompanying Notes.
(1)See Footnote 1
 
47
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Vanguard® International Vanguard® Mid-Cap Index Vanguard® Moderate Allocation Vanguard® Money Market
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            7,666,543 $                                         24,221,625 $                                         25,875,445 $                                            7,964,434
               
Investment Income:        
  Reinvested Dividends 95,837 381,557 668,682 501,651
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 42,558 451,643 370,302 27,438
    Net Investment Income (Loss) 53,279 (70,086) 298,380 474,213
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 253,694 317,994 543,712 -
  Realized Gain (Loss) on Investments (730,478) 53,099 (179,180) -
    Net Realized Capital Gains (Losses) on Investments (476,784) 371,093 364,532 -
    Net Change in Unrealized Appreciation (Depreciation) 1,062,068 3,480,206 1,857,850 -
      Net Gain (Loss) on Investment 585,284 3,851,299 2,222,382 -
               
Net Increase (Decrease) in Net Assets Resulting from Operations 638,563 3,781,213 2,520,762 474,213
               
Increase (Decrease) in Net Assets from Contract Transactions 162,786 11,630,365 2,088,050 1,516,833
               
Total Increase (Decrease) in Net Assets 801,349 15,411,578 4,608,812 1,991,046
               
Net Assets as of December 31, 2024: $                                            8,467,892 $                                         39,633,203 $                                         30,484,257 $                                            9,955,480
               
Investment Income:        
  Reinvested Dividends 81,020 533,668 789,425 407,475
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 48,518 702,577 445,940 28,170
    Net Investment Income (Loss) 32,502 (168,909) 343,485 379,305
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 546,059 2,126,067 1,326,164 -
  Realized Gain (Loss) on Investments (206,648) 115,317 (57,572) -
    Net Realized Capital Gains (Losses) on Investments 339,411 2,241,384 1,268,592 -
    Net Change in Unrealized Appreciation (Depreciation) 1,303,215 2,235,791 3,255,924 -
      Net Gain (Loss) on Investment 1,642,626 4,477,175 4,524,516 -
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,675,128 4,308,266 4,868,001 379,305
               
Increase (Decrease) in Net Assets from Contract Transactions 606,262 10,417,602 3,914,515 1,803,787
               
Total Increase (Decrease) in Net Assets 2,281,390 14,725,868 8,782,516 2,183,092
               
Net Assets as of December 31, 2025: $                                         10,749,282 $                                         54,359,071 $                                         39,266,773 $                                         12,138,572
See Accompanying Notes.
(1)See Footnote 1
 
48
 
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Vanguard® Real Estate Index Vanguard® Short-Term Investment Grade Vanguard® Total Bond Market Index Vanguard® Total International Stock Market Index
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            3,659,996 $                                         13,617,413 $                                         13,658,790 $                                            6,422,574
               
Investment Income:        
  Reinvested Dividends 115,147 511,024 409,591 222,125
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 18,427 62,775 66,264 22,019
    Net Investment Income (Loss) 96,720 448,249 343,327 200,106
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 97,140 - - 37,702
  Realized Gain (Loss) on Investments (212,228) (77,931) (576,194) (140,050)
    Net Realized Capital Gains (Losses) on Investments (115,088) (77,931) (576,194) (102,348)
    Net Change in Unrealized Appreciation (Depreciation) (281,436) 261,829 323,950 214,897
      Net Gain (Loss) on Investment (396,524) 183,898 (252,244) 112,549
               
Net Increase (Decrease) in Net Assets Resulting from Operations (299,804) 632,147 91,083 312,655
               
Increase (Decrease) in Net Assets from Contract Transactions 6,848,365 1,664,093 3,880,669 1,290,849
               
Total Increase (Decrease) in Net Assets 6,548,561 2,296,240 3,971,752 1,603,504
               
Net Assets as of December 31, 2024: $                                         10,208,557 $                                         15,913,653 $                                         17,630,542 $                                            8,026,078
               
Investment Income:        
  Reinvested Dividends 276,863 723,357 675,077 255,690
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 35,448 75,833 81,510 27,999
    Net Investment Income (Loss) 241,415 647,524 593,567 227,691
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 177,277 - - 155,871
  Realized Gain (Loss) on Investments (108,786) (16,276) (254,254) (7,771)
    Net Realized Capital Gains (Losses) on Investments 68,491 (16,276) (254,254) 148,100
    Net Change in Unrealized Appreciation (Depreciation) (19,644) 495,632 898,064 2,256,575
      Net Gain (Loss) on Investment 48,847 479,356 643,810 2,404,675
               
Net Increase (Decrease) in Net Assets Resulting from Operations 290,262 1,126,880 1,237,377 2,632,366
               
Increase (Decrease) in Net Assets from Contract Transactions 454,309 2,872,360 3,269,890 748,967
               
Total Increase (Decrease) in Net Assets 744,571 3,999,240 4,507,267 3,381,333
               
Net Assets as of December 31, 2025: $                                         10,953,128 $                                         19,912,893 $                                         22,137,809 $                                         11,407,411
See Accompanying Notes.
(1)See Footnote 1
 
49
 
Transamerica Life Insurance Company
Separate Account VA B
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Vanguard® Total Stock Market Index Voya Global Perspectives Class S Shares
        Subaccount Subaccount
           
Net Assets as of December 31, 2023: $                                         17,497,907 $                                                    15,362
           
Investment Income:    
  Reinvested Dividends 269,836 511
Investment Expense:    
  Mortality and Expense Risk and Administrative Charges 67,189 188
    Net Investment Income (Loss) 202,647 323
           
Increase (Decrease) in Net Assets from Operations:    
  Capital Gain Distributions 1,479,344 -
  Realized Gain (Loss) on Investments 119,354 (2,591)
    Net Realized Capital Gains (Losses) on Investments 1,598,698 (2,591)
    Net Change in Unrealized Appreciation (Depreciation) 2,680,386 3,521
      Net Gain (Loss) on Investment 4,279,084 930
           
Net Increase (Decrease) in Net Assets Resulting from Operations 4,481,731 1,253
           
Increase (Decrease) in Net Assets from Contract Transactions 1,515,914 (15,266)
           
Total Increase (Decrease) in Net Assets 5,997,645 (14,013)
           
Net Assets as of December 31, 2024: $                                         23,495,552 $                                                       1,349
           
Investment Income:    
  Reinvested Dividends 294,971 77
Investment Expense:    
  Mortality and Expense Risk and Administrative Charges 81,350 18
    Net Investment Income (Loss) 213,621 59
           
Increase (Decrease) in Net Assets from Operations:    
  Capital Gain Distributions 1,376,993 -
  Realized Gain (Loss) on Investments 132,820 5
    Net Realized Capital Gains (Losses) on Investments 1,509,813 5
    Net Change in Unrealized Appreciation (Depreciation) 2,491,109 105
      Net Gain (Loss) on Investment 4,000,922 110
           
Net Increase (Decrease) in Net Assets Resulting from Operations 4,214,543 169
           
Increase (Decrease) in Net Assets from Contract Transactions 1,992,255 (52)
           
Total Increase (Decrease) in Net Assets 6,206,798 117
           
Net Assets as of December 31, 2025: $                                         29,702,350 $                                                       1,466
See Accompanying Notes.
(1)See Footnote 1
 
50
 
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                               
                               
1.  Organization
                               
Separate Account VA B (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of Aegon Ltd., a holding company organized under the laws of the Bermuda.
The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940.  TLIC and the Separate Account are regulated by the Securities and Exchange Commission.  The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC's other assets and liabilities.  The Separate Account consists of multiple investment subaccounts.  Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund.  Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended.  Activity in these specified investment subaccounts is available to contract owners of Transamerica Variable Annuity Series, MEMBERS® Variable Annuity Series, Partners Variable Annuity Series, Transamerica Landmark℠ Variable Annuity, MEMBERS® Landmark℠ Variable Annuity, Transamerica Freedom℠ Variable Annuity, MEMBERS® Freedom℠ Variable Annuity, Transamerica Advisor Elite II, Transamerica Income Elite℠ II, Transamerica Axiom℠ II, Transamerica Principium℠ III, Transamerica Retirement Income Plus, Transamerica Variable Annuity O-Share, Transamerica ABC Variable Annuity Series, Transamerica 123 Variable Annuity, Transamerica Extra℠ Variable Annuity, MEMBERS® Extra℠ Variable Annuity, Transamerica Liberty℠ Variable Annuity, MEMBERS® Liberty℠ Variable Annuity, Transamerica Advisor Elite℠ Variable Annuity, Income Elite℠ Variable Annuity, Transamerica Axiom℠ Variable Annuity, Transamerica Principium℠ II Variable Annuity, Transamerica I-Share Variable Annuity, Transamerica Inspire℠ Variable Annuity, Transamerica Advisory Annuity, Transamerica Axiom℠ III Variable Annuity, Transamerica I-Share II Variable Annuity, and Transamerica Principium IV℠ Variable Annuity.
The TA ProFunds UltraBear Service Class (OAM) is included in the subaccount listing only to facilitate a contract owner purchase option.
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  AB Variable Products Series Fund, Inc.     AB Variable Products Series Fund, Inc.  
    AB Balanced Hedged Allocation Class B Shares     AB Balanced Hedged Allocation Portfolio Class B Shares
    AB Large Cap Growth Class B Shares       AB Large Cap Growth Portfolio Class B Shares
    AB Relative Value Class B Shares         AB Relative Value Class Portfolio B Shares  
  American Funds Insurance Series®       American Funds Insurance Series®    
    American Funds - Asset Allocation Class 2 Shares     American Funds - Asset Allocation Fund Class 2 Shares
    American Funds - Asset Allocation Class 4 Shares     American Funds - Asset Allocation Fund Class 4 Shares
    American Funds - Growth Class 2 Shares       American Funds - Growth Fund Class 2 Shares
    American Funds - Growth Class 4 Shares       American Funds - Growth Fund Class 4 Shares
    American Funds - Growth-Income Class 2 Shares     American Funds - Growth-Income Fund Class 2 Shares
    American Funds - Growth-Income Class 4 Shares     American Funds - Growth-Income Fund Class 4 Shares
    American Funds - International Class 2 Shares     American Funds - International Fund Class 2 Shares
    American Funds - International Class 4 Shares     American Funds - International Fund Class 4 Shares
    American Funds - New World Class 4 Shares       American Funds - New World Fund Class 4 Shares
    American Funds - The Bond Fund of America Class 2 Shares American Funds - The Bond Fund of America Class 2 Shares
    American Funds - The Bond Fund of America Class 4 Shares American Funds - The Bond Fund of America Class 4 Shares
  BlackRock Variable Series Funds, Inc.     BlackRock Variable Series Funds, Inc.  
    BlackRock Basic Value V.I. Class I Shares       BlackRock Basic Value V.I. Fund Class I Shares
    BlackRock Global Allocation V.I. Class I Shares     BlackRock Global Allocation V.I. Fund Class I Shares
    BlackRock High Yield V.I. Class I Shares       BlackRock High Yield V.I. Fund Class I Shares

 

51
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  Columbia Funds Variable Series Trust     Columbia Funds Variable Series Trust  
    Columbia - Acorn           Columbia - Acorn Fund    
    Columbia - Acorn International         Columbia - Acorn International Fund  
  DFA Investment Dimensions Group Inc.     DFA Investment Dimensions Group Inc.  
    Dimensional VA Equity Allocation       Dimensional VA Equity Allocation Portfolio  
    Dimensional VA Global Bond         Dimensional VA Global Bond Portfolio  
    Dimensional VA Global Moderate Allocation     Dimensional VA Global Moderate Allocation Portfolio
    Dimensional VA International Small       Dimensional VA International Small Portfolio
    Dimensional VA International Value       Dimensional VA International Value Portfolio
    Dimensional VA Short-Term Fixed       Dimensional VA Short-Term Fixed Portfolio
    Dimensional VA U.S. Large Value         Dimensional VA U.S. Large Value Portfolio  
    Dimensional VA U.S. Targeted Value       Dimensional VA U.S. Targeted Value Portfolio
  Fidelity® Variable Insurance Products Fund     Fidelity® Variable Insurance Products Fund  
    Fidelity® VIP Balanced Service Class 2       Fidelity® VIP Balanced Service Portfolio Class 2
    Fidelity® VIP Consumer Staples Initial Class       Fidelity® VIP Consumer Staples Portfolio Initial Class
    Fidelity® VIP Contrafund® Initial Class       Fidelity® VIP Contrafund® Portfolio Initial Class
    Fidelity® VIP Contrafund® Service Class 2       Fidelity® VIP Contrafund® Portfolio Service Class 2
    Fidelity® VIP Energy Service Class 2       Fidelity® VIP Energy Portfolio Service Class 2
    Fidelity® VIP Equity-Income Initial Class       Fidelity® VIP Equity-Income Portfolio Initial Class
    Fidelity® VIP Equity-Income Service Class 2       Fidelity® VIP Equity-Income Portfolio Service Class 2
    Fidelity® VIP Growth Initial Class         Fidelity® VIP Growth Portfolio Initial Class  
    Fidelity® VIP Growth Service Class 2       Fidelity® VIP Growth Portfolio Service Class 2
    Fidelity® VIP Growth Opportunities Service Class 2     Fidelity® VIP Growth Opportunities Portfolio Service Class 2
    Fidelity® VIP Health Care Service Class 2       Fidelity® VIP Health Care Portfolio Service Class 2
    Fidelity® VIP Mid Cap Initial Class         Fidelity® VIP Mid Cap Portfolio Initial Class  
    Fidelity® VIP Mid Cap Service Class 2       Fidelity® VIP Mid Cap Portfolio Service Class 2
    Fidelity® VIP Technology Initial Class       Fidelity® VIP Technology Portfolio Initial Class
    Fidelity® VIP Utilities Initial Class         Fidelity® VIP Utilities Portfolio Initial Class  
    Fidelity® VIP Value Strategies Initial Class       Fidelity® VIP Value Strategies Portfolio Initial Class
    Fidelity® VIP Value Strategies Service Class 2     Fidelity® VIP Value Strategies Portfolio Service Class 2
  Franklin Templeton Variable Insurance Products Trust   Franklin Templeton Variable Insurance Products Trust
    Franklin Allocation Class 4 Shares         Franklin Allocation Fund Class 4 Shares  
    Franklin Income Class 2 Shares         Franklin Income Class Fund 2 Shares  
    Franklin Mutual Shares Class 2 Shares       Franklin Mutual Shares Fund Class 2 Shares  
    Franklin Templeton Foreign Class 2 Shares       Franklin Templeton Foreign Fund Class 2 Shares
  AIM Variable Insurance Funds (Invesco Variable Insurance Funds) AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
    Invesco V.I. American Franchise Series II Shares     Invesco V.I. American Franchise Fund Series II Shares
  Janus Aspen Series         Janus Aspen Series      
    Janus Henderson - Enterprise Service Shares     Janus Henderson - Enterprise Portfolio Service Shares
    Janus Henderson - Global Research Service Shares     Janus Henderson - Global Research Portfolio Service Shares
    Janus Henderson - Mid Cap Value Service Shares     Janus Henderson - Mid Cap Value Portfolio Service Shares
  MFS® Variable Insurance Trust       MFS® Variable Insurance Trust    
    MFS® New Discovery Service Class       MFS® New Discovery Series Service Class  

 

52
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  MFS® Variable Insurance Trust       MFS® Variable Insurance Trust    
    MFS® Total Return Service Class         MFS® Total Return Series Service Class  
  Nationwide Variable Insurance Trust     Nationwide Variable Insurance Trust  
    NVIT Fidelity Institutional AM® Emerging Markets Class D Shares     NVIT Fidelity Institutional AM® Emerging Markets Fund Class D Shares
  Putnam Variable Trust         Putnam Variable Trust      
    Putnam VT International Value Class IB Shares     Putnam VT International Value Fund Class IB Shares
  State Street Variable Insurance Series Funds, Inc.   State Street Variable Insurance Series Funds, Inc.
    State Street Total Return V.I.S. Class 3 Shares     State Street Total Return V.I.S. Fund Class 3 Shares
  Transamerica Series Trust       Transamerica Series Trust    
    TA 60/40 Allocation Service Class         Transamerica 60/40 Allocation VP Service Class
    TA Aegon Bond Initial Class         Transamerica Aegon Bond VP Initial Class  
    TA Aegon Bond Service Class         Transamerica Aegon Bond VP Service Class  
    TA Aegon Core Bond Service Class       Transamerica Aegon Core Bond VP Service Class
    TA Aegon High Yield Bond Initial Class       Transamerica Aegon High Yield Bond VP Initial Class
    TA Aegon High Yield Bond Service Class       Transamerica Aegon High Yield Bond VP Service Class
    TA Aegon Sustainable Equity Income Initial Class     Transamerica Aegon Sustainable Equity Income VP Initial Class
    TA Aegon Sustainable Equity Income Service Class     Transamerica Aegon Sustainable Equity Income VP Service Class
    TA Aegon U.S. Government Securities Initial Class     Transamerica Aegon U.S. Government Securities VP Initial Class
    TA Aegon U.S. Government Securities Service Class     Transamerica Aegon U.S. Government Securities VP Service Class
    TA American Funds Managed Risk - Balanced Service Class Transamerica American Funds Managed Risk - Balanced VP Service Class
    TA BlackRock Government Money Market Initial Class     Transamerica BlackRock Government Money Market VP Initial Class
    TA BlackRock Government Money Market Service Class   Transamerica BlackRock Government Money Market VP Service Class
    TA BlackRock iShares Active Asset Allocation - Conservative Service Class     Transamerica BlackRock iShares Active Asset Allocation - Conservative VP Service Class
    TA BlackRock iShares Active Asset Allocation - Moderate Service Class     Transamerica BlackRock iShares Active Asset Allocation - Moderate VP Service Class
    TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class     Transamerica BlackRock iShares Active Asset Allocation - Moderate Growth VP Service Class
    TA BlackRock iShares Dynamic Allocation - Balanced Service Class     Transamerica BlackRock iShares Dynamic Allocation - Balanced VP Service Class
    TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class     Transamerica BlackRock iShares Dynamic Allocation - Moderate Growth VP Service Class
    TA BlackRock iShares Edge 100 Service Class       Transamerica BlackRock iShares Edge 100 VP Service Class
    TA BlackRock iShares Edge 40 Initial Class       Transamerica BlackRock iShares Edge 40 VP Initial Class
    TA BlackRock iShares Edge 40 Service Class       Transamerica BlackRock iShares Edge 40 VP Service Class
    TA BlackRock iShares Edge 50 Service Class       Transamerica BlackRock iShares Edge 50 VP Service Class
    TA BlackRock iShares Edge 75 Service Class       Transamerica BlackRock iShares Edge 75 VP Service Class
    TA BlackRock iShares Tactical - Balanced Service Class     Transamerica BlackRock iShares Tactical - Balanced VP Service Class
    TA BlackRock iShares Tactical - Conservative Service Class Transamerica BlackRock iShares Tactical - Conservative VP Service Class

 

53
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  Transamerica Series Trust       Transamerica Series Trust    
    TA BlackRock iShares Tactical - Growth Service Class     Transamerica BlackRock iShares Tactical - Growth VP Service Class
    TA BlackRock Real Estate Securities Initial Class     Transamerica BlackRock Real Estate Securities VP Initial Class
    TA BlackRock Real Estate Securities Service Class     Transamerica BlackRock Real Estate Securities VP Service Class
    TA BlackRock Tactical Allocation Service Class     Transamerica BlackRock Tactical Allocation VP Service Class
    TA Goldman Sachs 70/30 Service Class       Transamerica Goldman Sachs 70/30 VP Service Class
    TA Goldman Sachs Managed Risk - Balanced ETF Service Class Transamerica Goldman Sachs Managed Risk - Balanced ETF VP Service Class
    TA Goldman Sachs Managed Risk - Conservative ETF Service Class     Transamerica Goldman Sachs Managed Risk - Conservative ETF VP Service Class
    TA Goldman Sachs Managed Risk - Growth ETF Service Class Transamerica Goldman Sachs Managed Risk - Growth ETF VP Service Class
    TA Great Lakes Advisors Large Cap Value Service Class     Transamerica Great Lakes Advisors Large Cap Value VP Service Class
    TA International Focus Initial Class       Transamerica International Focus VP Initial Class
    TA International Focus Service Class       Transamerica International Focus VP Service Class
    TA Janus Balanced Service Class         Transamerica Janus Balanced VP Service Class
    TA Janus Mid-Cap Growth Initial Class       Transamerica Janus Mid-Cap Growth VP Initial Class
    TA Janus Mid-Cap Growth Service Class       Transamerica Janus Mid-Cap Growth VP Service Class
    TA JPMorgan Asset Allocation - Conservative Initial Class   Transamerica JPMorgan Asset Allocation - Conservative VP Initial Class
    TA JPMorgan Asset Allocation - Conservative Service Class Transamerica JPMorgan Asset Allocation - Conservative VP Service Class
    TA JPMorgan Asset Allocation - Moderate Initial Class     Transamerica JPMorgan Asset Allocation - Moderate VP Initial Class
    TA JPMorgan Asset Allocation - Moderate Service Class   Transamerica JPMorgan Asset Allocation - Moderate VP Service Class
    TA JPMorgan Asset Allocation - Moderate Growth Initial Class Transamerica JPMorgan Asset Allocation - Moderate Growth VP Initial Class
    TA JPMorgan Asset Allocation - Moderate Growth Service Class Transamerica JPMorgan Asset Allocation - Moderate Growth VP Service Class
    TA JPMorgan Diversified Equity Allocation Initial Class     Transamerica JPMorgan Diversified Equity Allocation VP Initial Class
    TA JPMorgan Diversified Equity Allocation Service Class   Transamerica JPMorgan Diversified Equity Allocation VP Service Class
    TA JPMorgan Enhanced Index Initial Class       Transamerica JPMorgan Enhanced Index VP Initial Class
    TA JPMorgan Enhanced Index Service Class       Transamerica JPMorgan Enhanced Index VP Service Class
    TA JPMorgan International Moderate Growth Initial Class Transamerica JPMorgan International Moderate Growth VP Initial Class
    TA JPMorgan International Moderate Growth Service Class Transamerica JPMorgan International Moderate Growth VP Service Class
    TA JPMorgan Tactical Allocation Service Class     Transamerica JPMorgan Tactical Allocation VP Service Class
    TA Madison Diversified Income Service Class     Transamerica Madison Diversified Income VP Service Class
    TA Market Participation Strategy Service Class     Transamerica Market Participation Strategy VP Service Class
    TA Morgan Stanley Global Allocation Service Class     Transamerica Morgan Stanley Global Allocation VP Service Class
    TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class   Transamerica Morgan Stanley Global Allocation Managed Risk - Balanced VP Service Class

 

54
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  Transamerica Series Trust       Transamerica Series Trust    
    TA MSCI EAFE Index Service Class         Transamerica MSCI EAFE Index VP Service Class
    TA Multi-Managed Balanced Initial Class       Transamerica Multi-Managed Balanced VP Initial Class
    TA Multi-Managed Balanced Service Class       Transamerica Multi-Managed Balanced VP Service Class
    TA PineBridge Inflation Opportunities Service Class     Transamerica PineBridge Inflation Opportunities VP Service Class
    TA ProFunds UltraBear Service Class (OAM)       Transamerica ProFunds UltraBear VP Service Class (OAM)
    TA S&P 500 Index Initial Class         Transamerica S&P 500 Index VP Initial Class  
    TA S&P 500 Index Service Class         Transamerica S&P 500 Index VP Service Class
    TA Small/Mid Cap Value Initial Class       Transamerica Small/Mid Cap Value VP Initial Class
    TA Small/Mid Cap Value Service Class       Transamerica Small/Mid Cap Value VP Service Class
    TA T. Rowe Price Small Cap Initial Class       Transamerica T. Rowe Price Small Cap VP Initial Class
    TA T. Rowe Price Small Cap Service Class       Transamerica T. Rowe Price Small Cap VP Service Class
    TA TSW International Equity Initial Class       Transamerica TSW International Equity VP Initial Class
    TA TSW International Equity Service Class       Transamerica TSW International Equity VP Service Class
    TA TSW Mid Cap Value Opportunities Service Class     Transamerica TSW Mid Cap Value Opportunities VP Service Class
    TA WMC US Growth Initial Class         Transamerica WMC US Growth VP Initial Class
    TA WMC US Growth Service Class         Transamerica WMC US Growth VP Service Class
  Vanguard® Variable Insurance Fund       Vanguard® Variable Insurance Fund  
    Vanguard® Balanced           Vanguard® Balanced Portfolio    
    Vanguard® Capital Growth         Vanguard® Capital Growth Portfolio  
    Vanguard® Conservative Allocation       Vanguard® Conservative Allocation Portfolio
    Vanguard® Diversified Value         Vanguard® Diversified Value Portfolio  
    Vanguard® Equity Income         Vanguard® Equity Income Portfolio  
    Vanguard® Equity Index         Vanguard® Equity Index Portfolio  
    Vanguard® Global Bond Index         Vanguard® Global Bond Index Portfolio  
    Vanguard® Growth           Vanguard® Growth Portfolio    
    Vanguard® High Yield Bond         Vanguard® High Yield Bond Portfolio  
    Vanguard® International         Vanguard® International Portfolio  
    Vanguard® Mid-Cap Index         Vanguard® Mid-Cap Index Portfolio  
    Vanguard® Moderate Allocation         Vanguard® Moderate Allocation Portfolio  
    Vanguard® Money Market         Vanguard® Money Market Portfolio  
    Vanguard® Real Estate Index         Vanguard® Real Estate Index Portfolio  
    Vanguard® Short-Term Investment Grade       Vanguard® Short-Term Investment Grade Portfolio
    Vanguard® Total Bond Market Index       Vanguard® Total Bond Market Index Portfolio
    Vanguard® Total International Stock Market Index     Vanguard® Total International Stock Market Index Portfolio
    Vanguard® Total Stock Market Index       Vanguard® Total Stock Market Index Portfolio
  Voya Investors Trust         Voya Investors Trust      
    Voya Global Perspectives Class S Shares       Voya Global Perspectives Portfolio Class S Shares
    Voya Large Cap Value Class S Shares       Voya Large Cap Value Portfolio Class S Shares
                               
                               
55
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                               
1.  Organization (continued)
                               
Each period reported on reflects a full twelve month period except as follows:      
Subaccount         Inception Date        
  Putnam VT International Value Class IB Shares     October 20, 2025      
  TA S&P 500 Index Initial Class       May 2, 2022        
                               
The following subaccount name changes were made effective during the fiscal year ended December 31, 2025:
Subaccount         Formerly        
  Columbia - Acorn         Wanger Acorn        
  Columbia - Acorn International       Wanger International      
  NVIT Fidelity Institutional AM® Emerging Markets Class D Shares   NVIT Emerging Markets Class D Shares  
  TA JPMorgan Diversified Equity Allocation Initial Class   TA JPMorgan Asset Allocation - Growth Initial Class
  TA JPMorgan Diversified Equity Allocation Service Class   TA JPMorgan Asset Allocation - Growth Service Class
                               
 
56
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
                         
                         
2.  Summary of Significant Accounting Policies      
                         
The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts.  The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities.  Actual results could differ from those estimates.
                         
Investments                      
Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2025.
Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets.
                         
Dividend Income                    
Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares.
                         
Fair Value Measurements and Fair Value Hierarchy              
The Accounting Standards Codification™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.
The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique.    The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.
Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows:
Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.
Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:
  a)  Quoted prices for similar assets or liabilities in active markets          
  b)  Quoted prices for identical or similar assets or liabilities in non-active markets        
  c)  Inputs other than quoted market prices that are observable          
  d)  Inputs that are derived principally from or corroborated by observable market data through correlation or other means.
                         
Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1.
There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2025.
 
57
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
         
         
         
         
3. Investments         
         
The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2025 were as follows:         
         
Subaccount Purchases Sales
AB Balanced Hedged Allocation Class B Shares $ 9,377,772 $ 16,432,408
AB Large Cap Growth Class B Shares   3,063,048   4,389,753
AB Relative Value Class B Shares   35,814,463   43,517,513
American Funds - Asset Allocation Class 2 Shares   80,156,468   129,584,299
American Funds - Asset Allocation Class 4 Shares   23,893,599   4,760,995
American Funds - Growth Class 2 Shares   111,392,109   200,562,284
American Funds - Growth Class 4 Shares   208,992,381   27,710,773
American Funds - Growth-Income Class 2 Shares   132,037,861   135,561,474
American Funds - Growth-Income Class 4 Shares   93,350,187   16,756,465
American Funds - International Class 2 Shares   11,513,905   35,190,295
American Funds - International Class 4 Shares   16,223,982   4,416,646
American Funds - New World Class 4 Shares   10,829,326   3,418,611
American Funds - The Bond Fund of America Class 2 Shares   26,217,873   37,646,752
American Funds - The Bond Fund of America Class 4 Shares   14,899,340   7,941,617
BlackRock Basic Value V.I. Class I Shares   3,244,820   2,980,962
BlackRock Global Allocation V.I. Class I Shares   1,325,944   1,447,698
BlackRock High Yield V.I. Class I Shares   448,159   582,883
Columbia - Acorn   -   -
Columbia - Acorn International   160,066   14,561
Dimensional VA Equity Allocation   893,736   47,630
Dimensional VA Global Bond   2,818,911   868,351
Dimensional VA Global Moderate Allocation   2,476,650   765,294
Dimensional VA International Small   390,042   121,070
Dimensional VA International Value   497,633   197,502
Dimensional VA Short-Term Fixed   1,263,367   839,597
Dimensional VA U.S. Large Value   995,441   456,697
Dimensional VA U.S. Targeted Value   920,168   157,014
Fidelity® VIP Balanced Service Class 2   52,112,827   91,028,282
Fidelity® VIP Consumer Staples Initial Class   4,069,753   1,645,179
Fidelity® VIP Contrafund® Initial Class   19,091   3,627
Fidelity® VIP Contrafund® Service Class 2   264,508,458   181,573,590
Fidelity® VIP Energy Service Class 2   8,224,947   8,215,992
Fidelity® VIP Equity-Income Initial Class   4,622   3,010
Fidelity® VIP Equity-Income Service Class 2   2,899,851   5,168,302
Fidelity® VIP Growth Initial Class   5,080   2,691
Fidelity® VIP Growth Service Class 2   5,603,179   7,536,600
 
58
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
Fidelity® VIP Growth Opportunities Service Class 2   72,901   304,029
Fidelity® VIP Health Care Service Class 2 $ 8,204,761 $ 3,808,792
Fidelity® VIP Mid Cap Initial Class   16,232   37,625
Fidelity® VIP Mid Cap Service Class 2   74,593,609   58,211,497
Fidelity® VIP Technology Initial Class   65,732,548   23,212,308
Fidelity® VIP Utilities Initial Class   8,181,433   2,250,946
Fidelity® VIP Value Strategies Initial Class   19,927   91,298
Fidelity® VIP Value Strategies Service Class 2   29,487,920   42,136,530
Franklin Allocation Class 4 Shares   2,414,902   8,404,627
Franklin Income Class 2 Shares   2,216,614   5,500,150
Franklin Mutual Shares Class 2 Shares   968,777   1,236,166
Franklin Templeton Foreign Class 2 Shares   1,066,084   1,787,877
Invesco V.I. American Franchise Series II Shares   656,271   766,965
Janus Henderson - Enterprise Service Shares   1,330,573   2,640,016
Janus Henderson - Global Research Service Shares   2,058,667   3,716,623
Janus Henderson - Mid Cap Value Service Shares   297,918   220,706
MFS® New Discovery Service Class   79,848   3,762,494
MFS® Total Return Service Class   2,549,955   3,433,619
NVIT Fidelity Institutional AM® Emerging Markets Class D Shares   11   77
Putnam VT International Value Class IB Shares   267,554   351
State Street Total Return V.I.S. Class 3 Shares   8,055,191   8,859,902
TA 60/40 Allocation Service Class   12,294,929   13,569,411
TA Aegon Bond Initial Class   16,658,981   16,898,480
TA Aegon Bond Service Class   37,516,136   73,127,374
TA Aegon Core Bond Service Class   20,169,302   41,482,329
TA Aegon High Yield Bond Initial Class   5,163,179   7,437,260
TA Aegon High Yield Bond Service Class   16,686,926   19,460,540
TA Aegon Sustainable Equity Income Initial Class   6,519,167   27,650,840
TA Aegon Sustainable Equity Income Service Class   10,950,391   20,745,347
TA Aegon U.S. Government Securities Initial Class   5,499,469   9,059,643
TA Aegon U.S. Government Securities Service Class   54,334,343   91,905,452
TA American Funds Managed Risk - Balanced Service Class   61,873,487   149,914,986
TA BlackRock Government Money Market Initial Class   39,752,177   40,989,856
TA BlackRock Government Money Market Service Class   291,355,327   365,231,107
TA BlackRock iShares Active Asset Allocation - Conservative Service Class   7,986,661   33,958,834
TA BlackRock iShares Active Asset Allocation - Moderate Service Class   25,180,721   147,927,949
 
59
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class   10,155,209   54,800,176
TA BlackRock iShares Dynamic Allocation - Balanced Service Class   19,203,021   112,096,773
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class $ 8,880,845 $ 56,427,425
TA BlackRock iShares Edge 100 Service Class   12,234,157   14,536,346
TA BlackRock iShares Edge 40 Initial Class   1,629,438   1,812,821
TA BlackRock iShares Edge 40 Service Class   14,370,116   30,597,714
TA BlackRock iShares Edge 50 Service Class   31,548,713   58,974,597
TA BlackRock iShares Edge 75 Service Class   16,501,770   25,285,606
TA BlackRock iShares Tactical - Balanced Service Class   12,588,131   57,156,908
TA BlackRock iShares Tactical - Conservative Service Class   6,669,751   28,280,123
TA BlackRock iShares Tactical - Growth Service Class   14,086,770   46,242,745
TA BlackRock Real Estate Securities Initial Class   1,517,893   2,889,246
TA BlackRock Real Estate Securities Service Class   5,673,363   10,314,052
TA BlackRock Tactical Allocation Service Class   20,933,793   154,501,745
TA Goldman Sachs 70/30 Service Class   6,456,595   1,884,015
TA Goldman Sachs Managed Risk - Balanced ETF Service Class   231,446,361   612,421,815
TA Goldman Sachs Managed Risk - Conservative ETF Service Class   23,986,431   71,606,544
TA Goldman Sachs Managed Risk - Growth ETF Service Class   141,435,509   322,998,805
TA Great Lakes Advisors Large Cap Value Service Class   14,123,074   14,487,876
TA International Focus Initial Class   10,402,876   7,744,004
TA International Focus Service Class   17,531,828   17,470,404
TA Janus Balanced Service Class   121,729,216   174,349,593
TA Janus Mid-Cap Growth Initial Class   11,866,495   8,679,991
TA Janus Mid-Cap Growth Service Class   36,243,453   26,871,189
TA JPMorgan Asset Allocation - Conservative Initial Class   10,950,838   18,143,479
TA JPMorgan Asset Allocation - Conservative Service Class   30,793,786   106,689,278
TA JPMorgan Asset Allocation - Moderate Initial Class   23,298,787   39,930,917
TA JPMorgan Asset Allocation - Moderate Service Class   137,856,390   673,191,365
TA JPMorgan Asset Allocation - Moderate Growth Initial Class   16,333,053   50,386,188
TA JPMorgan Asset Allocation - Moderate Growth Service Class   61,279,670   410,000,353
TA JPMorgan Diversified Equity Allocation Initial Class   17,224,419   38,006,246
TA JPMorgan Diversified Equity Allocation Service Class   20,576,707   44,445,549
TA JPMorgan Enhanced Index Initial Class   25,832,409   16,280,130
TA JPMorgan Enhanced Index Service Class   44,768,633   36,950,932
TA JPMorgan International Moderate Growth Initial Class   2   119,501
TA JPMorgan International Moderate Growth Service Class   17,604,411   62,529,483
 
60
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
TA JPMorgan Tactical Allocation Service Class   25,477,877   132,600,331
TA Madison Diversified Income Service Class   9,452,852   20,391,543
TA Market Participation Strategy Service Class   15,702,587   54,447,127
TA Morgan Stanley Global Allocation Service Class $ 49,386,021 $ 144,509,691
TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class   23,549,348   37,016,290
TA MSCI EAFE Index Service Class   25,370,978   17,299,319
TA Multi-Managed Balanced Initial Class   20,227,353   16,161,575
TA Multi-Managed Balanced Service Class   148,262,924   214,640,479
TA PineBridge Inflation Opportunities Service Class   6,021,030   19,834,393
TA ProFunds UltraBear Service Class (OAM)   5,427,456   4,257,404
TA S&P 500 Index Initial Class   5,098,249   1,159,597
TA S&P 500 Index Service Class   171,878,104   112,116,353
TA Small/Mid Cap Value Initial Class   10,204,849   9,475,541
TA Small/Mid Cap Value Service Class   35,636,239   29,829,675
TA T. Rowe Price Small Cap Initial Class   17,802,631   14,110,078
TA T. Rowe Price Small Cap Service Class   92,531,437   53,675,494
TA TSW International Equity Initial Class   8,757,812   11,555,270
TA TSW International Equity Service Class   16,958,886   14,024,370
TA TSW Mid Cap Value Opportunities Service Class   64,391,132   32,557,065
TA WMC US Growth Initial Class   127,723,226   108,829,835
TA WMC US Growth Service Class   203,784,391   158,549,191
Vanguard® Balanced   23,519,778   3,504,000
Vanguard® Capital Growth   2,333,844   1,288,703
Vanguard® Conservative Allocation   13,895,204   2,018,542
Vanguard® Diversified Value   1,008,433   395,604
Vanguard® Equity Income   2,472,478   1,931,723
Vanguard® Equity Index   2,580,994   2,022,174
Vanguard® Global Bond Index   469,485   29,419
Vanguard® Growth   2,391,195   2,439,591
Vanguard® High Yield Bond   866,691   607,866
Vanguard® International   3,056,799   1,871,978
Vanguard® Mid-Cap Index   16,876,850   4,502,086
Vanguard® Moderate Allocation   11,617,271   6,033,110
Vanguard® Money Market   6,900,673   4,717,535
Vanguard® Real Estate Index   1,722,714   849,716
Vanguard® Short-Term Investment Grade   5,432,823   1,912,937
 
61
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
Vanguard® Total Bond Market Index   6,193,668   2,330,216
Vanguard® Total International Stock Market Index   2,016,844   884,320
Vanguard® Total Stock Market Index   5,349,994   1,767,137
Voya Global Perspectives Class S Shares   77   70
 
62
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
               
4. Change in Units               
               
The change in units outstanding were as follows:               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
AB Balanced Hedged Allocation Class B Shares 445,909 (2,957,661) (2,511,752)   356,934 (3,268,638) (2,911,704)
AB Large Cap Growth Class B Shares 85,544 (721,014) (635,470)   16,313 (776,973) (760,660)
AB Relative Value Class B Shares 1,440,539 (5,936,096) (4,495,557)   1,230,229 (5,996,380) (4,766,151)
American Funds - Asset Allocation Class 2 Shares 1,767,856 (17,759,053) (15,991,197)   2,004,970 (19,716,495) (17,711,525)
American Funds - Asset Allocation Class 4 Shares 1,088,425 (256,686) 831,739   1,036,892 (259,969) 776,923
American Funds - Growth Class 2 Shares 1,404,804 (6,097,924) (4,693,120)   1,041,547 (6,816,684) (5,775,137)
American Funds - Growth Class 4 Shares 7,454,470 (1,087,170) 6,367,300   6,792,578 (731,213) 6,061,365
American Funds - Growth-Income Class 2 Shares 951,269 (6,461,613) (5,510,344)   911,269 (6,596,473) (5,685,204)
American Funds - Growth-Income Class 4 Shares 2,967,008 (760,933) 2,206,075   3,484,185 (392,478) 3,091,707
American Funds - International Class 2 Shares 1,512,192 (5,220,476) (3,708,284)   1,651,294 (5,091,188) (3,439,894)
American Funds - International Class 4 Shares 1,166,351 (296,340) 870,011   971,081 (188,957) 782,124
American Funds - New World Class 4 Shares 616,732 (205,823) 410,909   501,359 (73,318) 428,041
American Funds - The Bond Fund of America Class 2 Shares 5,963,370 (11,222,308) (5,258,938)   4,516,472 (7,992,950) (3,476,478)
American Funds - The Bond Fund of America Class 4 Shares 1,442,028 (814,272) 627,756   1,933,015 (640,061) 1,292,954
BlackRock Basic Value V.I. Class I Shares 135,082 (540,780) (405,698)   159,712 (499,414) (339,702)
BlackRock Global Allocation V.I. Class I Shares 185,052 (430,858) (245,806)   55,943 (331,492) (275,549)
BlackRock High Yield V.I. Class I Shares 81,423 (165,400) (83,977)   65,767 (134,734) (68,967)
Columbia - Acorn - - -   - - -
Columbia - Acorn International 91,948 (2,711) 89,237   7 (1,604) (1,597)
Dimensional VA Equity Allocation 43,045 (2,203) 40,842   11,624 (3,451) 8,173
Dimensional VA Global Bond 267,941 (82,251) 185,690   103,952 (82,449) 21,503
Dimensional VA Global Moderate Allocation 150,832 (51,309) 99,523   48,945 (2,610) 46,335
Dimensional VA International Small 19,551 (8,102) 11,449   9,927 (1,838) 8,089
Dimensional VA International Value 19,463 (10,941) 8,522   41,144 (6,603) 34,541
Dimensional VA Short-Term Fixed 102,160 (74,302) 27,858   163,572 (65,150) 98,422
Dimensional VA U.S. Large Value 48,872 (29,747) 19,125   74,430 (14,891) 59,539
Dimensional VA U.S. Targeted Value 38,149 (9,152) 28,997   26,607 (7,609) 18,998
 
63
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
Fidelity® VIP Balanced Service Class 2 1,553,437 (12,189,702) (10,636,265)   3,132,991 (13,270,353) (10,137,362)
Fidelity® VIP Consumer Staples Initial Class 260,398 (114,879) 145,519   182,002 (110,115) 71,887
Fidelity® VIP Contrafund® Initial Class 2 (549) (547)   2 (898) (896)
Fidelity® VIP Contrafund® Service Class 2 4,408,907 (12,185,598) (7,776,691)   5,250,561 (13,755,264) (8,504,703)
Fidelity® VIP Energy Service Class 2 286,379 (289,685) (3,306)   384,879 (225,219) 159,660
Fidelity® VIP Equity-Income Initial Class - (751) (751)   - (745) (745)
Fidelity® VIP Equity-Income Service Class 2 172,232 (1,297,890) (1,125,658)   10,151 (1,149,016) (1,138,865)
Fidelity® VIP Growth Initial Class - (354) (354)   - (340) (340)
Fidelity® VIP Growth Service Class 2 77,299 (1,172,915) (1,095,616)   308,209 (876,936) (568,727)
Fidelity® VIP Growth Opportunities Service Class 2 3,069 (30,659) (27,590)   4,276 (83,560) (79,284)
Fidelity® VIP Health Care Service Class 2 569,719 (288,668) 281,051   603,683 (205,268) 398,415
Fidelity® VIP Mid Cap Initial Class 653 (1,802) (1,149)   252 (908) (656)
Fidelity® VIP Mid Cap Service Class 2 2,332,648 (6,182,627) (3,849,979)   2,384,057 (5,623,151) (3,239,094)
Fidelity® VIP Technology Initial Class 2,147,645 (838,163) 1,309,482   2,153,647 (541,445) 1,612,202
Fidelity® VIP Utilities Initial Class 407,067 (117,801) 289,266   304,661 (143,794) 160,867
Fidelity® VIP Value Strategies Initial Class 12 (11,220) (11,208)   231 (24,598) (24,367)
Fidelity® VIP Value Strategies Service Class 2 1,819,299 (5,051,978) (3,232,679)   2,079,295 (4,952,342) (2,873,047)
Franklin Allocation Class 4 Shares 19,537 (2,779,289) (2,759,752)   19,607 (2,981,647) (2,962,040)
Franklin Income Class 2 Shares 163,168 (2,505,434) (2,342,266)   29,905 (2,649,197) (2,619,292)
Franklin Mutual Shares Class 2 Shares 1,045 (568,170) (567,125)   14,924 (704,655) (689,731)
Franklin Templeton Foreign Class 2 Shares 41,430 (1,312,803) (1,271,373)   45,488 (1,581,180) (1,535,692)
Invesco V.I. American Franchise Series II Shares 2,042 (149,557) (147,515)   1,000 (152,148) (151,148)
Janus Henderson - Enterprise Service Shares 9,883 (561,179) (551,296)   15,507 (944,975) (929,468)
Janus Henderson - Global Research Service Shares 65,351 (1,267,336) (1,201,985)   293,238 (1,241,648) (948,410)
Janus Henderson - Mid Cap Value Service Shares 1,037 (48,812) (47,775)   655 (24,524) (23,869)
MFS® New Discovery Service Class 21,549 (827,756) (806,207)   28,390 (1,114,848) (1,086,458)
MFS® Total Return Service Class 29,340 (1,146,723) (1,117,383)   36,072 (1,532,345) (1,496,273)
 
64
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
NVIT Fidelity Institutional AM® Emerging Markets Class D Shares - (4) (4)   - (5) (5)
Putnam VT International Value Class IB Shares 25,793 (14) 25,779   - - -
State Street Total Return V.I.S. Class 3 Shares 397,167 (1,932,843) (1,535,676)   301,367 (2,206,088) (1,904,721)
TA 60/40 Allocation Service Class 1,463,436 (1,587,772) (124,336)   967,977 (1,943,855) (975,878)
TA Aegon Bond Initial Class 6,763,485 (9,990,294) (3,226,809)   7,190,139 (8,555,136) (1,364,997)
TA Aegon Bond Service Class 3,641,005 (25,864,353) (22,223,348)   3,484,904 (26,183,667) (22,698,763)
TA Aegon Core Bond Service Class 2,165,150 (8,735,294) (6,570,144)   4,692,372 (8,874,545) (4,182,173)
TA Aegon High Yield Bond Initial Class 762,832 (2,466,425) (1,703,593)   1,359,352 (2,393,643) (1,034,291)
TA Aegon High Yield Bond Service Class 1,078,337 (2,983,005) (1,904,668)   1,046,938 (3,457,515) (2,410,577)
TA Aegon Sustainable Equity Income Initial Class 528,230 (7,447,209) (6,918,979)   356,564 (7,194,074) (6,837,510)
TA Aegon Sustainable Equity Income Service Class 943,283 (3,684,125) (2,740,842)   412,146 (3,480,362) (3,068,216)
TA Aegon U.S. Government Securities Initial Class 2,904,096 (5,840,974) (2,936,878)   7,178,144 (8,319,719) (1,141,575)
TA Aegon U.S. Government Securities Service Class 10,288,173 (20,449,366) (10,161,193)   7,402,100 (22,497,410) (15,095,310)
TA American Funds Managed Risk - Balanced Service Class 443,637 (8,943,177) (8,499,540)   900,679 (8,975,753) (8,075,074)
TA BlackRock Government Money Market Initial Class 34,864,082 (35,507,921) (643,839)   24,716,118 (34,319,043) (9,602,925)
TA BlackRock Government Money Market Service Class 59,353,025 (84,167,726) (24,814,701)   61,175,553 (100,182,803) (39,007,250)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class 1,190,714 (10,098,794) (8,908,080)   1,708,532 (12,381,874) (10,673,342)
TA BlackRock iShares Active Asset Allocation - Moderate Service Class 1,926,800 (29,371,442) (27,444,642)   3,102,521 (30,207,370) (27,104,849)
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class 956,149 (13,472,648) (12,516,499)   1,400,171 (14,847,404) (13,447,233)
TA BlackRock iShares Dynamic Allocation - Balanced Service Class 751,517 (16,542,167) (15,790,650)   1,449,770 (19,517,578) (18,067,808)
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class 740,130 (8,091,923) (7,351,793)   881,449 (9,105,708) (8,224,259)
TA BlackRock iShares Edge 100 Service Class 366,387 (623,328) (256,941)   403,316 (462,806) (59,490)
TA BlackRock iShares Edge 40 Initial Class 348,470 (800,107) (451,637)   533,083 (1,319,597) (786,514)
TA BlackRock iShares Edge 40 Service Class 425,005 (8,464,519) (8,039,514)   685,050 (10,031,036) (9,345,986)
TA BlackRock iShares Edge 50 Service Class 706,333 (3,652,439) (2,946,106)   596,166 (4,096,985) (3,500,819)
 
65
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
TA BlackRock iShares Edge 75 Service Class 435,557 (1,336,208) (900,651)   593,054 (1,607,343) (1,014,289)
TA BlackRock iShares Tactical - Balanced Service Class 760,818 (11,776,961) (11,016,143)   463,317 (13,376,036) (12,912,719)
TA BlackRock iShares Tactical - Conservative Service Class 919,194 (5,637,761) (4,718,567)   917,480 (6,680,826) (5,763,346)
TA BlackRock iShares Tactical - Growth Service Class 2,234,998 (7,488,886) (5,253,888)   1,629,449 (7,751,474) (6,122,025)
TA BlackRock Real Estate Securities Initial Class 392,144 (896,682) (504,538)   324,407 (900,860) (576,453)
TA BlackRock Real Estate Securities Service Class 704,064 (2,216,227) (1,512,163)   951,846 (2,802,865) (1,851,019)
TA BlackRock Tactical Allocation Service Class 2,045,456 (31,016,355) (28,970,899)   1,730,228 (35,186,990) (33,456,762)
TA Goldman Sachs 70/30 Service Class 403,783 (112,987) 290,796   134,905 (16,026) 118,879
TA Goldman Sachs Managed Risk - Balanced ETF Service Class 2,657,731 (94,530,923) (91,873,192)   3,250,203 (111,231,026) (107,980,823)
TA Goldman Sachs Managed Risk - Conservative ETF Service Class 3,822,154 (19,711,689) (15,889,535)   2,424,504 (21,569,102) (19,144,598)
TA Goldman Sachs Managed Risk - Growth ETF Service Class 4,392,982 (64,278,564) (59,885,582)   4,491,502 (71,901,224) (67,409,722)
TA Great Lakes Advisors Large Cap Value Service Class 886,954 (1,468,004) (581,050)   1,290,567 (1,240,716) 49,851
TA International Focus Initial Class 1,915,865 (3,339,845) (1,423,980)   1,583,493 (3,278,357) (1,694,864)
TA International Focus Service Class 929,883 (2,608,612) (1,678,729)   642,646 (2,123,346) (1,480,700)
TA Janus Balanced Service Class 1,855,120 (19,570,160) (17,715,040)   2,856,501 (21,934,689) (19,078,188)
TA Janus Mid-Cap Growth Initial Class 1,275,701 (2,337,009) (1,061,308)   668,536 (3,550,517) (2,881,981)
TA Janus Mid-Cap Growth Service Class 586,918 (2,154,868) (1,567,950)   873,481 (2,222,460) (1,348,979)
TA JPMorgan Asset Allocation - Conservative Initial Class 3,528,144 (8,222,657) (4,694,513)   4,517,544 (8,988,769) (4,471,225)
TA JPMorgan Asset Allocation - Conservative Service Class 2,567,205 (29,892,494) (27,325,289)   4,264,318 (32,996,464) (28,732,146)
TA JPMorgan Asset Allocation - Moderate Initial Class 6,643,326 (15,131,345) (8,488,019)   7,234,456 (15,604,564) (8,370,108)
TA JPMorgan Asset Allocation - Moderate Service Class 3,770,460 (119,698,026) (115,927,566)   4,329,023 (132,491,393) (128,162,370)
TA JPMorgan Asset Allocation - Moderate Growth Initial Class 2,436,966 (15,596,569) (13,159,603)   3,640,639 (18,461,308) (14,820,669)
TA JPMorgan Asset Allocation - Moderate Growth Service Class 2,337,411 (86,366,048) (84,028,637)   2,949,382 (96,172,583) (93,223,201)
TA JPMorgan Diversified Equity Allocation Initial Class 1,994,029 (9,128,425) (7,134,396)   2,366,575 (7,748,016) (5,381,441)
TA JPMorgan Diversified Equity Allocation Service Class 963,625 (6,718,150) (5,754,525)   1,865,509 (4,875,951) (3,010,442)
TA JPMorgan Enhanced Index Initial Class 1,050,710 (2,339,029) (1,288,319)   1,987,029 (3,654,637) (1,667,608)
TA JPMorgan Enhanced Index Service Class 805,263 (1,380,098) (574,835)   751,404 (1,153,316) (401,912)
 
66
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
TA JPMorgan International Moderate Growth Initial Class - (68,935) (68,935)   1,556 (452) 1,104
TA JPMorgan International Moderate Growth Service Class 2,765,913 (22,400,785) (19,634,872)   2,223,773 (22,606,966) (20,383,193)
TA JPMorgan Tactical Allocation Service Class 718,085 (23,076,072) (22,357,987)   969,363 (25,405,973) (24,436,610)
TA Madison Diversified Income Service Class 774,896 (3,772,355) (2,997,459)   787,362 (4,957,720) (4,170,358)
TA Market Participation Strategy Service Class 369,011 (6,546,059) (6,177,048)   895,009 (8,766,872) (7,871,863)
TA Morgan Stanley Global Allocation Service Class 2,102,748 (34,495,053) (32,392,305)   1,704,711 (37,657,436) (35,952,725)
TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class 250,060 (2,968,600) (2,718,540)   203,029 (2,702,985) (2,499,956)
TA MSCI EAFE Index Service Class 1,574,365 (1,114,524) 459,841   1,346,153 (565,217) 780,936
TA Multi-Managed Balanced Initial Class 1,687,476 (3,562,929) (1,875,453)   881,150 (3,154,834) (2,273,684)
TA Multi-Managed Balanced Service Class 1,675,568 (18,963,878) (17,288,310)   2,004,937 (22,464,093) (20,459,156)
TA PineBridge Inflation Opportunities Service Class 1,026,918 (7,243,931) (6,217,013)   956,117 (9,514,024) (8,557,907)
TA ProFunds UltraBear Service Class (OAM) 642,583 (50,386,229) (49,743,646)   1,544,475 49,539,299 51,083,774
TA S&P 500 Index Initial Class 996,551 (78,405) 918,146   761,075 (24,284) 736,791
TA S&P 500 Index Service Class 6,458,492 (4,045,655) 2,412,837   8,045,859 (3,117,051) 4,928,808
TA Small/Mid Cap Value Initial Class 115,346 (955,644) (840,298)   110,852 (1,183,992) (1,073,140)
TA Small/Mid Cap Value Service Class 738,510 (2,555,515) (1,817,005)   826,663 (2,702,208) (1,875,545)
TA T. Rowe Price Small Cap Initial Class 555,692 (2,782,392) (2,226,700)   640,093 (3,534,797) (2,894,704)
TA T. Rowe Price Small Cap Service Class 1,202,954 (3,465,969) (2,263,015)   1,564,049 (3,533,538) (1,969,489)
TA TSW International Equity Initial Class 1,547,432 (3,917,968) (2,370,536)   1,690,104 (3,992,012) (2,301,908)
TA TSW International Equity Service Class 1,329,970 (1,598,927) (268,957)   696,138 (1,393,486) (697,348)
TA TSW Mid Cap Value Opportunities Service Class 591,461 (3,309,561) (2,718,100)   751,915 (4,004,859) (3,252,944)
TA WMC US Growth Initial Class 1,940,921 (17,884,210) (15,943,289)   2,676,403 (19,108,696) (16,432,293)
TA WMC US Growth Service Class 1,519,577 (6,566,758) (5,047,181)   1,920,358 (6,560,279) (4,639,921)
Vanguard® Balanced 1,206,533 (193,829) 1,012,704   722,534 (331,547) 390,987
Vanguard® Capital Growth 114,635 (64,623) 50,012   56,029 (41,755) 14,274
Vanguard® Conservative Allocation 1,087,655 (138,806) 948,849   285,403 (50,267) 235,136
Vanguard® Diversified Value 37,605 (21,179) 16,426   31,258 (32,472) (1,214)
 
67
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
               
               
               
 4. Change in Units (continued)              
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
Vanguard® Equity Income 115,539 (109,577) 5,962   123,695 (50,132) 73,563
Vanguard® Equity Index 42,067 (105,266) (63,199)   45,688 (127,202) (81,514)
Vanguard® Global Bond Index 42,690 (2,542) 40,148   16,127 (4,860) 11,267
Vanguard® Growth 65,111 (110,362) (45,251)   485,479 (45,191) 440,288
Vanguard® High Yield Bond 51,243 (48,314) 2,929   146,174 (27,957) 118,217
Vanguard® International 91,886 (97,206) (5,320)   70,101 (113,124) (43,023)
Vanguard® Mid-Cap Index 484,975 (142,951) 342,024   525,471 (108,996) 416,475
Vanguard® Moderate Allocation 717,967 (420,444) 297,523   544,187 (354,962) 189,225
Vanguard® Money Market 569,811 (414,179) 155,632   547,760 (403,775) 143,985
Vanguard® Real Estate Index 83,311 (52,873) 30,438   407,955 (55,579) 352,376
Vanguard® Short-Term Investment Grade 460,616 (187,521) 273,095   282,791 (194,620) 88,171
Vanguard® Total Bond Market Index 494,101 (235,154) 258,947   680,370 (322,474) 357,896
Vanguard® Total International Stock Market Index 115,035 (62,842) 52,193   212,499 (106,095) 106,404
Vanguard® Total Stock Market Index 189,489 (83,797) 105,692   301,935 (199,535) 102,400
Voya Global Perspectives Class S Shares - (4) (4)   79 (1,220) (1,141)
 
68
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
AB Balanced Hedged Allocation Class B Shares $ 5,060,424 $ (15,524,559) $ (10,464,135)   $ 2,850,329 $ (12,699,939) $ (9,849,610)
AB Large Cap Growth Class B Shares   462,183   (3,986,611)   (3,524,428)     70,461   (3,797,510)   (3,727,049)
AB Relative Value Class B Shares   13,532,674   (40,494,755)   (26,962,081)     13,568,058   (41,283,433)   (27,715,375)
American Funds - Asset Allocation Class 2 Shares   23,210,115   (119,742,922)   (96,532,807)     12,243,215   (114,363,717)   (102,120,502)
American Funds - Asset Allocation Class 4 Shares 17,091,120   (3,965,446)   13,125,674     14,443,582   (3,636,790)   10,806,792
American Funds - Growth Class 2 Shares   31,729,792   (185,918,970)   (154,189,178)     21,808,276   (167,180,057)   (145,371,781)
American Funds - Growth Class 4 Shares   177,352,534   (25,672,229)   151,680,305     134,205,414   (14,321,411)   119,884,003
American Funds - Growth-Income Class 2 Shares   19,577,022   (126,194,572)   (106,617,550)     21,278,602   (125,531,635)   (104,253,033)
American Funds - Growth-Income Class 4 Shares   60,356,610   (15,605,564)   44,751,046     62,228,229   (6,973,295)   55,254,934
American Funds - International Class 2 Shares   9,548,312   (32,707,590)   (23,159,278)     10,408,033   (33,911,335)   (23,503,302)
American Funds - International Class 4 Shares   15,881,680   (4,078,166)   11,803,514     12,364,584   (2,399,876)   9,964,708
American Funds - New World Class 4 Shares   9,728,313   (3,192,487)   6,535,826     6,850,684   (1,007,653)   5,843,031
American Funds - The Bond Fund of America Class 2 Shares 18,670,733   (35,113,213)   (16,442,480)     20,914,055   (30,361,600)   (9,447,545)
American Funds - The Bond Fund of America Class 4 Shares   13,442,129   (7,613,804)   5,828,325     17,395,789   (5,869,120)   11,526,669
BlackRock Basic Value V.I. Class I Shares   570,991   (2,702,311)   (2,131,320)     634,659   (2,246,204)   (1,611,545)
BlackRock Global Allocation V.I. Class I Shares   450,090   (1,329,900)   (879,810)     154,222   (941,395)   (787,173)
BlackRock High Yield V.I. Class I Shares   271,072   (545,426)   (274,354)     198,748   (412,463)   (213,715)
Columbia - Acorn   -   -   -     -   -   -
Columbia - Acorn International   156,692   (13,564)   143,128     94   (12,629)   (12,535)
Dimensional VA Equity Allocation   792,129   (40,173)   751,956     188,953   (56,317)   132,636
Dimensional VA Global Bond   2,616,664   (822,484)   1,794,180     987,122   (781,169)   205,953
Dimensional VA Global Moderate Allocation   2,366,244   (759,956)   1,606,288     674,180   (36,918)   637,262
Dimensional VA International Small   287,685   (117,942)   169,743     124,053   (22,535)   101,518
Dimensional VA International Value   328,374   (191,970)   136,404     572,220   (93,929)   478,291
Dimensional VA Short-Term Fixed   1,119,660   (831,394)   288,266     1,733,321   (688,549)   1,044,772
Dimensional VA U.S. Large Value   742,781   (448,194)   294,587     1,067,190   (216,626)   850,564
Dimensional VA U.S. Targeted Value   685,028   (152,457)   532,571     456,872   (130,687)   326,185
 
69
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
Fidelity® VIP Balanced Service Class 2   20,037,565   (85,022,652)   (64,985,087)     29,908,480   (80,069,302)   (50,160,822)
Fidelity® VIP Consumer Staples Initial Class $ 3,584,432 $ (1,581,186) $ 2,003,246   $ 2,564,561 $ (1,565,043) $ 999,518
Fidelity® VIP Contrafund® Initial Class   94   (2,873)   (2,779)     94   (16,409)   (16,315)
Fidelity® VIP Contrafund® Service Class 2   92,459,990   (169,181,529)   (76,721,539)     85,715,803   (157,271,976)   (71,556,173)
Fidelity® VIP Energy Service Class 2   7,921,446   (8,019,117)   (97,671)     10,902,372   (6,424,260)   4,478,112
Fidelity® VIP Equity-Income Initial Class   -   (2,574)   (2,574)     -   (2,294)   (2,294)
Fidelity® VIP Equity-Income Service Class 2   659,289   (4,704,289)   (4,045,000)     29,583   (3,794,902)   (3,765,319)
Fidelity® VIP Growth Initial Class   -   (2,393)   (2,393)     -   (2,032)   (2,032)
Fidelity® VIP Growth Service Class 2   420,379   (6,946,146)   (6,525,767)     1,649,277   (4,566,295)   (2,917,018)
Fidelity® VIP Growth Opportunities Service Class 2 24,752   (251,815)   (227,063)     32,727   (558,749)   (526,022)
Fidelity® VIP Health Care Service Class 2   6,764,102   (3,616,428)   3,147,674     7,451,806   (2,548,739)   4,903,067
Fidelity® VIP Mid Cap Initial Class   9,662   (37,214)   (27,552)     6,299   (3,308)   2,991
Fidelity® VIP Mid Cap Service Class 2   30,295,722   (53,844,443)   (23,548,721)     34,203,827   (51,421,772)   (17,217,945)
Fidelity® VIP Technology Initial Class   58,300,084   (22,159,073)   36,141,011     50,598,952   (12,740,607)   37,858,345
Fidelity® VIP Utilities Initial Class   7,479,798   (2,128,331)   5,351,467     4,838,280   (2,196,697)   2,641,583
Fidelity® VIP Value Strategies Initial Class   120   (88,762)   (88,642)     892   (113,291)   (112,399)
Fidelity® VIP Value Strategies Service Class 2   19,158,880   (39,651,014)   (20,492,134)     21,282,762   (40,219,706)   (18,936,944)
Franklin Allocation Class 4 Shares   54,848   (7,723,327)   (7,668,479)     56,975   (7,737,332)   (7,680,357)
Franklin Income Class 2 Shares   326,922   (5,044,529)   (4,717,607)     53,757   (4,944,495)   (4,890,738)
Franklin Mutual Shares Class 2 Shares   2,296   (1,113,794)   (1,111,498)     31,713   (1,307,946)   (1,276,233)
Franklin Templeton Foreign Class 2 Shares   44,407   (1,611,578)   (1,567,171)     51,734   (1,802,425)   (1,750,691)
Invesco V.I. American Franchise Series II Shares   9,175   (673,964)   (664,789)     3,680   (599,868)   (596,188)
Janus Henderson - Enterprise Service Shares   50,566   (2,421,134)   (2,370,568)     77,797   (3,777,506)   (3,699,709)
Janus Henderson - Global Research Service Shares 143,217   (3,416,105)   (3,272,888)     610,064   (2,932,256)   (2,322,192)
Janus Henderson - Mid Cap Value Service Shares   3,997   (181,185)   (177,188)     2,197   (85,503)   (83,306)
MFS® New Discovery Service Class   80,587   (3,427,189)   (3,346,602)     115,624   (4,486,559)   (4,370,935)
MFS® Total Return Service Class   77,981   (3,064,111)   (2,986,130)     90,470   (3,929,386)   (3,838,916)
 
70
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
NVIT Fidelity Institutional AM® Emerging Markets Class D Shares   -   (54)   (54)     -   (54)   (54)
Putnam VT International Value Class IB Shares   267,463   (147)   267,316     -   -   -
State Street Total Return V.I.S. Class 3 Shares $ 5,542,875 $ (8,293,180) $ (2,750,305)   $ 2,345,132 $ (6,591,985) $ (4,246,853)
TA 60/40 Allocation Service Class   7,089,333   (12,806,647)   (5,717,314)     6,432,389   (12,852,317)   (6,419,928)
TA Aegon Bond Initial Class   10,042,793   (15,447,520)   (5,404,727)     10,552,502   (12,621,011)   (2,068,509)
TA Aegon Bond Service Class   14,622,296   (68,663,849)   (54,041,553)     16,215,859   (68,034,503)   (51,818,644)
TA Aegon Core Bond Service Class   16,375,366   (39,534,131)   (23,158,765)     20,996,048   (35,742,224)   (14,746,176)
TA Aegon High Yield Bond Initial Class   2,126,699   (6,812,196)   (4,685,497)     3,704,722   (6,129,364)   (2,424,642)
TA Aegon High Yield Bond Service Class   10,074,786   (18,337,656)   (8,262,870)     8,073,697   (19,151,470)   (11,077,773)
TA Aegon Sustainable Equity Income Initial Class   1,694,305   (24,985,593)   (23,291,288)     1,530,300   (22,015,599)   (20,485,299)
TA Aegon Sustainable Equity Income Service Class 8,565,879   (19,492,611)   (10,926,732)     4,362,307   (17,784,299)   (13,421,992)
TA Aegon U.S. Government Securities Initial Class   3,847,453   (8,380,949)   (4,533,496)     9,547,096   (11,564,939)   (2,017,843)
TA Aegon U.S. Government Securities Service Class 50,325,384   (90,349,404)   (40,024,020)     34,494,402   (95,994,842)   (61,500,440)
TA American Funds Managed Risk - Balanced Service Class   6,923,642   (140,261,822)   (133,338,180)     12,824,939   (129,827,109)   (117,002,170)
TA BlackRock Government Money Market Initial Class 35,826,783   (39,397,506)   (3,570,723)     24,831,282   (37,421,262)   (12,589,980)
TA BlackRock Government Money Market Service Class   275,070,618   (360,166,180)   (85,095,562)     241,549,412   (356,371,396)   (114,821,984)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class   3,677,912   (31,832,222)   (28,154,310)     5,943,450   (36,809,386)   (30,865,936)
TA BlackRock iShares Active Asset Allocation - Moderate Service Class   8,547,090   (138,109,598)   (129,562,508)     17,702,685   (130,390,384)   (112,687,699)
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class   5,495,348   (51,301,912)   (45,806,564)     10,138,289   (56,019,476)   (45,881,187)
TA BlackRock iShares Dynamic Allocation - Balanced Service Class   5,584,560   (104,621,083)   (99,036,523)     9,237,411   (108,261,277)   (99,023,866)
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class   3,902,754   (53,008,109)   (49,105,355)     5,193,821   (53,770,487)   (48,576,666)
TA BlackRock iShares Edge 100 Service Class   8,290,009   (13,796,594)   (5,506,585)     7,826,983   (8,922,721)   (1,095,738)
TA BlackRock iShares Edge 40 Initial Class   681,149   (1,598,579)   (917,430)     1,050,617   (2,608,748)   (1,558,131)
 
71
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
TA BlackRock iShares Edge 40 Service Class   3,825,052   (28,446,900)   (24,621,848)     2,775,849   (31,084,398)   (28,308,549)
TA BlackRock iShares Edge 50 Service Class   10,484,501   (54,795,223)   (44,310,722)     8,265,107   (57,132,771)   (48,867,664)
TA BlackRock iShares Edge 75 Service Class   7,792,300   (23,707,846)   (15,915,546)     9,809,519   (26,062,475)   (16,252,956)
TA BlackRock iShares Tactical - Balanced Service Class 3,385,597   (53,344,058)   (49,958,461)     1,854,422   (56,835,666)   (54,981,244)
TA BlackRock iShares Tactical - Conservative Service Class $ 2,260,972 $ (26,537,807) $ (24,276,835)   $ 2,858,304 $ (29,358,436) $ (26,500,132)
TA BlackRock iShares Tactical - Growth Service Class 8,376,911   (43,649,686)   (35,272,775)     8,648,368   (43,908,056)   (35,259,688)
TA BlackRock Real Estate Securities Initial Class   1,140,912   (2,582,502)   (1,441,590)     976,074   (2,423,013)   (1,446,939)
TA BlackRock Real Estate Securities Service Class   5,016,948   (9,699,423)   (4,682,475)     5,742,193   (11,047,494)   (5,305,301)
TA BlackRock Tactical Allocation Service Class   6,842,820   (144,918,426)   (138,075,606)     5,958,758   (158,632,019)   (152,673,261)
TA Goldman Sachs 70/30 Service Class   6,107,665   (1,771,385)   4,336,280     1,915,379   (227,149)   1,688,230
TA Goldman Sachs Managed Risk - Balanced ETF Service Class   12,129,379   (571,734,057)   (559,604,678)     18,566,926   (612,856,977)   (594,290,051)
TA Goldman Sachs Managed Risk - Conservative ETF Service Class   10,364,363   (67,274,431)   (56,910,068)     7,204,618   (73,893,905)   (66,689,287)
TA Goldman Sachs Managed Risk - Growth ETF Service Class   21,237,395   (303,652,149)   (282,414,754)     21,614,503   (321,233,567)   (299,619,064)
TA Great Lakes Advisors Large Cap Value Service Class 12,164,945   (13,729,270)   (1,564,325)     11,678,529   (10,241,209)   1,437,320
TA International Focus Initial Class   3,899,079   (7,041,726)   (3,142,647)     3,247,999   (6,889,706)   (3,641,707)
TA International Focus Service Class   8,217,390   (16,653,782)   (8,436,392)     6,526,976   (11,597,919)   (5,070,943)
TA Janus Balanced Service Class   16,423,277   (164,644,855)   (148,221,578)     28,097,875   (169,483,964)   (141,386,089)
TA Janus Mid-Cap Growth Initial Class   4,377,198   (7,736,739)   (3,359,541)     2,156,947   (11,427,496)   (9,270,549)
TA Janus Mid-Cap Growth Service Class   13,364,419   (25,025,619)   (11,661,200)     17,078,111   (27,127,745)   (10,049,634)
TA JPMorgan Asset Allocation - Conservative Initial Class 7,000,234   (16,563,968)   (9,563,734)     8,803,661   (17,417,448)   (8,613,787)
TA JPMorgan Asset Allocation - Conservative Service Class   11,737,280   (100,026,755)   (88,289,475)     10,274,685   (102,461,824)   (92,187,139)
TA JPMorgan Asset Allocation - Moderate Initial Class 15,345,296   (36,150,961)   (20,805,665)     15,779,230   (35,609,876)   (19,830,646)
TA JPMorgan Asset Allocation - Moderate Service Class   17,193,681   (624,134,090)   (606,940,409)     26,215,242   (606,109,537)   (579,894,295)
TA JPMorgan Asset Allocation - Moderate Growth Initial Class   6,928,963   (45,019,052)   (38,090,089)     9,573,987   (50,243,825)   (40,669,838)
 
72
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
TA JPMorgan Asset Allocation - Moderate Growth Service Class   12,151,953   (381,871,112)   (369,719,159)     18,757,808   (398,584,144)   (379,826,336)
TA JPMorgan Diversified Equity Allocation Initial Class 7,152,675   (34,427,218)   (27,274,543)     8,146,427   (26,257,936)   (18,111,509)
TA JPMorgan Diversified Equity Allocation Service Class   11,408,804   (41,565,770)   (30,156,966)     15,915,498   (33,196,069)   (17,280,571)
TA JPMorgan Enhanced Index Initial Class   6,120,783   (13,968,732)   (7,847,949)     9,200,633   (20,411,491)   (11,210,858)
TA JPMorgan Enhanced Index Service Class   27,049,612   (35,399,616)   (8,350,004)     23,983,174   (22,696,416)   1,286,758
TA JPMorgan International Moderate Growth Initial Class $ - $ (119,379) $ (119,379)   $ 2,583 $ (770) $ 1,813
TA JPMorgan International Moderate Growth Service Class   8,431,689   (58,457,219)   (50,025,530)     5,734,934   (56,660,716)   (50,925,782)
TA JPMorgan Tactical Allocation Service Class   3,949,557   (123,575,495)   (119,625,938)     5,040,627   (129,354,528)   (124,313,901)
TA Madison Diversified Income Service Class   6,689,667   (19,102,868)   (12,413,201)     4,615,504   (22,820,643)   (18,205,139)
TA Market Participation Strategy Service Class   3,064,327   (50,883,155)   (47,818,828)     5,893,998   (61,768,499)   (55,874,501)
TA Morgan Stanley Global Allocation Service Class   9,490,513   (135,575,582)   (126,085,069)     7,532,493   (133,957,958)   (126,425,465)
TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class   3,002,482   (34,748,535)   (31,746,053)     2,215,484   (29,500,991)   (27,285,507)
TA MSCI EAFE Index Service Class   23,842,337   (16,431,612)   7,410,725     18,045,572   (7,559,106)   10,486,466
TA Multi-Managed Balanced Initial Class   6,824,639   (14,789,551)   (7,964,912)     3,207,077   (12,201,945)   (8,994,868)
TA Multi-Managed Balanced Service Class   16,041,153   (203,281,350)   (187,240,197)     20,357,874   (241,070,939)   (220,713,065)
TA PineBridge Inflation Opportunities Service Class 3,387,202   (18,813,736)   (15,426,534)     3,497,890   (26,171,468)   (22,673,578)
TA ProFunds UltraBear Service Class (OAM)   5,211,347   (3,179,734)   2,031,613     15,364,044   (4,056,420)   11,307,624
TA S&P 500 Index Initial Class   4,871,398   (1,124,715)   3,746,683     10,608,839   (323,521)   10,285,318
TA S&P 500 Index Service Class   165,941,389   (105,195,828)   60,745,561     184,026,345   (69,952,159)   114,074,186
TA Small/Mid Cap Value Initial Class   660,876   (8,316,074)   (7,655,198)     1,078,688   (11,239,231)   (10,160,543)
TA Small/Mid Cap Value Service Class   14,840,102   (28,105,696)   (13,265,594)     16,501,029   (25,314,195)   (8,813,166)
TA T. Rowe Price Small Cap Initial Class   2,621,137   (12,756,476)   (10,135,339)     3,005,966   (15,938,882)   (12,932,916)
TA T. Rowe Price Small Cap Service Class   30,039,099   (50,387,854)   (20,348,755)     36,718,130   (53,632,569)   (16,914,439)
TA TSW International Equity Initial Class   3,944,427   (10,586,655)   (6,642,228)     3,627,371   (9,372,590)   (5,745,219)
TA TSW International Equity Service Class   12,922,647   (13,418,669)   (496,022)     7,123,421   (10,322,951)   (3,199,530)
 
73
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
TA TSW Mid Cap Value Opportunities Service Class 8,422,501   (30,454,552)   (22,032,051)     9,694,293   (33,855,629)   (24,161,336)
TA WMC US Growth Initial Class   11,109,566   (98,247,488)   (87,137,922)     13,154,486   (90,760,685)   (77,606,199)
TA WMC US Growth Service Class   57,535,108   (148,508,928)   (90,973,820)     59,701,630   (130,193,511)   (70,491,881)
Vanguard® Balanced   18,037,290   (2,852,210)   15,185,080     9,561,587   (4,340,502)   5,221,085
Vanguard® Capital Growth   2,050,655   (1,275,507)   775,148     954,704   (707,263)   247,441
Vanguard® Conservative Allocation   12,579,922   (1,681,110)   10,898,812     3,195,593   (562,171)   2,633,422
Vanguard® Diversified Value   703,089   (388,221)   314,868     530,788   (562,790)   (32,002)
Vanguard® Equity Income $ 2,022,322 $ (1,921,360) $ 100,962   $ 1,924,506 $ (723,007) $ 1,201,499
Vanguard® Equity Index   1,952,333   (1,958,539)   (6,206)     1,765,502   (3,182,424)   (1,416,922)
Vanguard® Global Bond Index   424,646   (25,541)   399,105     154,912   (47,301)   107,611
Vanguard® Growth   1,451,951   (2,407,926)   (955,975)     9,768,568   (845,452)   8,923,116
Vanguard® High Yield Bond   617,890   (599,205)   18,685     1,663,393   (319,848)   1,343,545
Vanguard® International   2,434,412   (1,828,150)   606,262     1,562,026   (1,399,240)   162,786
Vanguard® Mid-Cap Index   14,645,775   (4,228,173)   10,417,602     14,511,848   (2,881,483)   11,630,365
Vanguard® Moderate Allocation   9,589,048   (5,674,533)   3,914,515     6,468,230   (4,380,180)   2,088,050
Vanguard® Money Market   6,499,355   (4,695,568)   1,803,787     5,915,771   (4,398,938)   1,516,833
Vanguard® Real Estate Index   1,276,987   (822,678)   454,309     7,728,711   (880,346)   6,848,365
Vanguard® Short-Term Investment Grade   4,721,891   (1,849,531)   2,872,360     3,292,050   (1,627,957)   1,664,093
Vanguard® Total Bond Market Index   5,537,944   (2,268,054)   3,269,890     7,390,719   (3,510,050)   3,880,669
Vanguard® Total International Stock Market Index   1,610,962   (861,995)   748,967     2,600,170   (1,309,321)   1,290,849
Vanguard® Total Stock Market Index   3,694,068   (1,701,813)   1,992,255     5,027,727   (3,511,813)   1,515,914
Voya Global Perspectives Class S Shares   -   (52)   (52)     990   (16,256)   (15,266)
 
74
 
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights                                    
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
AB Balanced Hedged Allocation Class B Shares                                
    12/31/2025 12,593,517 $21.30 to $14.25 $           61,004,277   1.88 % 0.40 % to 2.85 % 16.89 % to 14.11 %
    12/31/2024 15,105,269 18.22 to 12.49 62,547,297   1.75   0.40   to 2.85   8.14   to 5.55  
    12/31/2023 18,016,973 16.85 to 11.83 67,924,719   0.91   0.40   to 2.85   12.21   to 9.55  
    12/31/2022 20,382,589 15.02 to 10.80 68,221,047   3.03   0.40   to 2.85   (19.49)   to (21.41)  
    12/31/2021 23,075,361 18.65 to 13.74 97,949,715   0.26   0.40   to 2.85   12.91   to 10.22  
AB Large Cap Growth Class B Shares                                  
    12/31/2025 4,666,023 8.82 to 32.76 27,145,678   -   0.30   to 2.80   12.51   to 9.78  
    12/31/2024 5,301,493 7.84 to 29.84 27,818,295   -   0.30   to 2.80   24.58   to 21.53  
    12/31/2023 6,062,153 6.29 to 24.55 25,855,468   -   0.30   to 2.80   34.38   to 31.13  
    12/31/2022 6,694,830 4.68 to 18.72 21,598,227   -   0.30   to 2.80   (28.90)   to (30.63)  
    12/31/2021 7,676,319 6.59 to 26.99 35,215,505   -   0.30   to 2.80   28.27   to 25.15  
AB Relative Value Class B Shares                                  
    12/31/2025 36,564,982 4.71 to 18.51 245,995,414   0.89   0.30   to 2.80   9.87   to 7.20  
    12/31/2024 41,060,539 4.28 to 17.27 252,530,414   1.25   0.30   to 2.80   12.43   to 9.68  
    12/31/2023 45,826,690 3.81 to 15.75 252,527,102   1.27   0.30   to 2.80   11.39   to 8.69  
    12/31/2022 52,215,761 3.42 to 14.49 253,718,317   1.10   0.30   to 2.80   (4.70)   to (7.02)  
    12/31/2021 53,868,536 3.59 to 15.58 277,963,317   0.65   0.30   to 2.80   27.45   to 24.36  
American Funds - Asset Allocation Class 2 Shares                                
    12/31/2025 83,794,050 28.33 to 17.76 629,020,237   1.95   0.60   to 2.95   15.16   to 12.53  
    12/31/2024 99,785,247 24.60 to 15.78 643,112,279   2.09   0.60   to 2.95   15.74   to 13.08  
    12/31/2023 117,496,772 21.25 to 13.95 655,500,152   2.17   0.60   to 2.95   13.59   to 11.00  
    12/31/2022 133,628,079 18.71 to 12.57 658,825,848   1.84   0.60   to 2.95   (13.92)   to (15.88)  
    12/31/2021 152,575,336 21.74 to 14.94 871,352,808   1.50   0.60   to 2.95   14.41   to 11.80  
American Funds - Asset Allocation Class 4 Shares                                
    12/31/2025 5,647,346 17.72 to 16.00 94,492,973   1.97   0.40   to 2.20   15.13   to 13.08  
    12/31/2024 4,815,607 15.39 to 14.15 70,676,441   2.12   0.40   to 2.20   15.64   to 13.57  
    12/31/2023 4,038,684 13.31 to 12.46 51,793,639   2.37   0.40   to 2.20   13.57   to 11.55  
    12/31/2022 2,607,001 11.72 to 11.17 29,772,601   1.92   0.40   to 2.20   (14.01)   to (15.54)  
    12/31/2020(1) 1,727,718 13.63 to 13.23 23,155,040   2.13   0.40   to 2.20   14.38   to 12.34  
American Funds - Growth Class 2 Shares                                  
    12/31/2025 29,598,105 66.70 to 36.19 1,023,333,178   0.16   0.60   to 2.95   19.51   to 16.79  
    12/31/2024 34,291,225 55.81 to 30.99 1,008,499,520   0.33   0.60   to 2.95   30.83   to 27.84  
    12/31/2023 40,066,362 42.66 to 24.24 905,289,115   0.36   0.60   to 2.95   37.66   to 34.53  
    12/31/2022 44,785,334 30.99 to 18.02 739,271,958   0.32   0.60   to 2.95   (30.36)   to (31.94)  
    12/31/2021 49,147,881 44.50 to 26.48 1,149,580,633   0.22   0.60   to 2.95   21.26   to 18.50  
American Funds - Growth Class 4 Shares                                  
    12/31/2025 22,659,871 27.51 to 24.84 588,155,888   0.12   0.33   to 2.13   19.53   to 17.40  
    12/31/2024 16,292,571 23.02 to 21.16 357,360,893   0.17   0.33   to 2.13   30.86   to 28.52  
    12/31/2023 10,231,206 17.59 to 16.47 173,243,164   0.18   0.33   to 2.13   37.68   to 35.24  
    12/31/2022 6,068,608 12.77 to 12.18 75,410,935   0.11   0.33   to 2.13   (30.34)   to (31.59)  
    12/31/2021 3,929,006 18.34 to 17.80 70,825,649   0.06   0.33   to 2.13   21.28   to 19.12  
American Funds - Growth-Income Class 2 Shares                                
    12/31/2025 25,919,298 45.92 to 25.13 639,108,799   0.89   0.60   to 2.95   17.36   to 14.68  
    12/31/2024 31,429,642 39.13 to 21.91 649,827,838   1.07   0.60   to 2.95   23.48   to 20.65  
    12/31/2023 37,114,846 31.69 to 18.16 623,307,981   1.35   0.60   to 2.95   25.39   to 22.54  
    12/31/2022 42,147,647 25.27 to 14.82 565,155,508   1.26   0.60   to 2.95   (16.99)   to (18.88)  
    12/31/2021 46,521,780 30.45 to 18.27 754,565,140   1.11   0.60   to 2.95   23.35   to 20.54  
75
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
American Funds - Growth-Income Class 4 Shares                                
    12/31/2025 10,995,381 $23.37 to $21.11 $         242,695,312   0.80 % 0.33 % to 2.13 % 17.38 % to 15.29 %
    12/31/2024 8,789,306 19.91 to 18.31 166,980,958   1.08   0.33   to 2.13   23.51   to 21.29  
    12/31/2023 5,697,599 16.12 to 15.09 88,521,439   1.37   0.33   to 2.13   25.41   to 23.18  
    12/31/2022 3,580,600 12.86 to 12.25 44,815,167   1.23   0.33   to 2.13   (16.98)   to (18.46)  
    12/31/2021 2,239,175 15.48 to 15.03 34,083,630   1.32   0.33   to 2.13   23.39   to 21.19  
American Funds - International Class 2 Shares                                
    12/31/2025 23,782,487 19.18 to 14.62 202,752,548   1.31   0.60   to 2.95   26.01   to 23.14  
    12/31/2024 27,490,771 15.22 to 11.88 183,247,362   1.15   0.60   to 2.95   2.54   to 0.19  
    12/31/2023 30,930,665 14.85 to 11.85 202,507,533   1.29   0.60   to 2.95   15.15   to 12.53  
    12/31/2022 33,890,694 12.89 to 10.53 190,941,815   1.71   0.60   to 2.95   (21.26)   to (23.05)  
    12/31/2021 37,028,497 16.37 to 13.69 262,247,784   2.38   0.60   to 2.95   (2.09)   to (4.32)  
American Funds - International Class 4 Shares                                
    12/31/2025 3,708,223 16.09 to 14.53 56,329,372   1.35   0.33   to 2.13   25.99   to 23.74  
    12/31/2024 2,838,212 12.77 to 11.74 34,575,346   1.12   0.33   to 2.13   2.59   to 0.75  
    12/31/2023 2,056,088 12.45 to 11.65 24,678,048   1.22   0.33   to 2.13   15.18   to 13.13  
    12/31/2022 1,534,693 10.81 to 10.30 16,159,481   1.66   0.33   to 2.13   (21.28)   to (22.68)  
    12/31/2021 1,178,588 13.73 to 13.32 15,918,386   3.82   0.33   to 2.13   (2.04)   to (3.78)  
American Funds - New World Class 4 Shares                                
    12/31/2025 1,855,255 18.10 to 16.34 31,711,583   1.06   0.35   to 2.15   27.48   to 25.21  
    12/31/2024 1,444,346 14.20 to 13.05 19,567,603   1.30   0.35   to 2.15   5.96   to 4.06  
    12/31/2023 1,016,305 13.40 to 12.54 13,127,105   1.44   0.35   to 2.15   15.27   to 13.22  
    12/31/2022 648,308 11.63 to 11.08 7,346,732   1.15   0.35   to 2.15   (22.52)   to (23.90)  
    12/31/2021 511,234 15.00 to 14.56 7,543,125   0.98   0.35   to 2.15   4.26   to 2.40  
American Funds - The Bond Fund of America Class 2 Shares                            
    12/31/2025 43,745,813 11.90 to 9.49 189,408,982   4.18   0.60   to 2.95   6.62   to 4.19  
    12/31/2024 49,004,751 11.16 to 9.11 195,360,352   4.07   0.60   to 2.95   0.55   to (1.76)  
    12/31/2023 52,481,229 11.10 to 9.27 205,754,769   3.44   0.60   to 2.95   4.39   to 2.02  
    12/31/2022 54,788,400 10.64 to 9.09 205,927,941   2.83   0.60   to 2.95   (13.10)   to (15.08)  
    12/31/2021 62,790,605 12.24 to 10.70 267,700,388   1.38   0.60   to 2.95   (0.90)   to (3.16)  
American Funds - The Bond Fund of America Class 4 Shares                            
    12/31/2025 4,504,835 10.11 to 9.13 42,979,111   4.27   0.31   to 2.11   6.65   to 4.75  
    12/31/2024 3,877,079 9.48 to 8.72 35,067,290   4.43   0.31   to 2.11   0.66   to (1.14)  
    12/31/2023 2,584,125 9.42 to 8.82 23,472,254   3.86   0.31   to 2.11   4.40   to 2.54  
    12/31/2022 1,480,104 9.02 to 8.60 12,995,937   2.87   0.31   to 2.11   (13.02)   to (14.57)  
    12/31/2021 1,220,373 10.37 to 10.07 12,442,489   1.60   0.31   to 2.11   (0.89)   to (2.66)  
BlackRock Basic Value V.I. Class I Shares                                  
    12/31/2025 3,529,431 4.68 to 18.41 19,659,776   2.07   1.25   to 2.65   22.85   to 21.18  
    12/31/2024 3,935,129 3.81 to 15.19 18,032,903   2.01   1.25   to 2.65   9.00   to 7.51  
    12/31/2023 4,274,831 3.49 to 14.13 18,096,054   1.77   1.25   to 2.65   15.17   to 13.61  
    12/31/2022 4,611,591 3.03 to 12.44 16,931,268   1.42   1.25   to 2.65   (6.09)   to (7.37)  
    12/31/2021 5,019,930 3.23 to 13.43 19,580,580   1.17   1.25   to 2.65   20.17   to 18.54  
BlackRock Global Allocation V.I. Class I Shares                                
    12/31/2025 2,578,765 4.74 to 15.72 8,142,209   3.40   1.25   to 2.65   18.32   to 16.71  
    12/31/2024 2,824,571 4.01 to 13.47 7,726,926   1.31   1.25   to 2.65   7.88   to 6.40  
    12/31/2023 3,100,120 3.72 to 12.66 7,932,144   2.13   1.25   to 2.65   11.44   to 9.92  
    12/31/2022 3,447,241 3.33 to 11.51 7,994,086   -   1.25   to 2.65   (16.90)   to (18.03)  
    12/31/2021 3,779,531 4.01 to 14.05 10,653,267   0.89   1.25   to 2.65   5.36   to 3.92  
BlackRock High Yield V.I. Class I Shares                                  
    12/31/2025 738,807 3.57 to 12.94 2,480,786   6.74   1.25   to 2.65   7.84   to 6.37  
    12/31/2024 822,784 3.31 to 12.16 2,570,000   6.95   1.25   to 2.65   6.92   to 5.46  
    12/31/2023 891,751 3.09 to 11.53 2,614,880   6.56   1.25   to 2.65   11.80   to 10.28  
    12/31/2022 937,485 2.77 to 10.46 2,463,283   5.31   1.25   to 2.65   (11.45)   to (12.65)  
    12/31/2021 1,009,939 3.12 to 11.97 3,009,551   4.52   1.25   to 2.65   4.02   to 2.61  
76
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
Columbia - Acorn                                    
    12/31/2025 - $3.64 to $15.88 $                               -   - % 0.30 % to 2.50 % 4.16 % to 1.92 %
    12/31/2024 - 3.50 to 15.59 -   -   0.30   to 2.50   13.84   to 11.38  
    12/31/2023 - 3.07 to 13.99 -   -   0.30   to 2.50   21.37   to 18.78  
    12/31/2022 - 2.53 to 11.78 -   -   0.30   to 2.50   (33.66)   to (35.09)  
    12/31/2021 - 3.82 to 18.15 -   -   0.30   to 2.50   8.57   to 6.24  
Columbia - Acorn International                                  
    12/31/2025 110,003 1.90 to 12.27 296,281   1.47   0.30   to 2.50   12.42   to 10.01  
    12/31/2024 20,766 1.69 to 11.15 143,168   1.39   0.30   to 2.50   (8.52)   to (10.50)  
    12/31/2023 22,363 1.85 to 12.46 169,801   0.31   0.30   to 2.50   16.60   to 14.11  
    12/31/2022 23,884 1.59 to 10.92 156,056   0.93   0.30   to 2.50   (34.04)   to (35.46)  
    12/31/2021 32,978 2.41 to 16.92 287,903   0.56   0.30   to 2.50   18.45   to 15.91  
Dimensional VA Equity Allocation                                  
    12/31/2025 169,657 19.73 to 19.50 3,339,525   2.51   0.27   to 0.47   19.62   to 19.38  
    12/31/2024 128,815 16.50 to 16.33 2,119,149   1.98   0.27   to 0.47   14.79   to 14.56  
    12/31/2023 120,642 14.37 to 14.26 1,729,713   2.40   0.27   to 0.47   19.82   to 19.58  
    12/31/2022 101,956 11.99 to 11.92 1,220,469   1.92   0.27   to 0.47   (13.91)   to (14.09)  
    12/31/2021 61,903 13.93 to 13.88 860,593   2.53   0.27   to 0.47   24.04   to 23.79  
Dimensional VA Global Bond                                  
    12/31/2025 515,118 10.70 to 9.37 5,156,994   4.96   0.27   to 2.60   4.07   to 1.67  
    12/31/2024 329,428 10.28 to 9.21 3,237,883   5.11   0.27   to 2.60   5.10   to 2.67  
    12/31/2023 307,925 9.78 to 8.98 2,909,169   5.08   0.27   to 2.60   4.77   to 2.36  
    12/31/2022 217,471 9.34 to 8.77 1,982,769   1.85   0.27   to 2.60   (6.59)   to (8.73)  
    12/31/2021 132,281 9.99 to 9.61 1,299,932   1.55   0.27   to 2.60   (1.31)   to (3.58)  
Dimensional VA Global Moderate Allocation                                
    12/31/2025 201,196 16.46 to 16.26 3,310,428   3.84   0.27   to 0.47   14.37   to 14.15  
    12/31/2024 101,673 14.39 to 14.24 1,462,558   3.26   0.27   to 0.47   11.69   to 11.46  
    12/31/2023 55,338 12.88 to 12.78 712,676   2.88   0.27   to 0.47   14.42   to 14.19  
    12/31/2022 47,075 11.26 to 11.19 529,889   3.35   0.27   to 0.47   (11.20)   to (11.37)  
    12/31/2021 6,725 12.68 to 12.63 85,165   0.45   0.27   to 0.47   13.90   to 13.67  
Dimensional VA International Small                                  
    12/31/2025 92,280 16.72 to 16.52 1,541,812   3.68   0.27   to 0.47   36.62   to 36.35  
    12/31/2024 80,831 12.24 to 12.12 988,745   3.66   0.27   to 0.47   3.54   to 3.33  
    12/31/2023 72,742 11.82 to 11.73 859,817   3.30   0.27   to 0.47   13.80   to 13.58  
    12/31/2022 64,378 10.39 to 10.33 668,692   3.28   0.27   to 0.47   (17.87)   to (18.03)  
    12/31/2021 29,546 12.65 to 12.60 373,647   2.70   0.27   to 0.47   14.26   to 14.03  
Dimensional VA International Value                                  
    12/31/2025 127,351 20.24 to 19.99 2,574,461   4.55   0.27   to 0.47   45.25   to 44.96  
    12/31/2024 118,829 13.93 to 13.79 1,654,489   4.69   0.27   to 0.47   6.33   to 6.12  
    12/31/2023 84,288 13.10 to 13.00 1,103,871   5.26   0.27   to 0.47   17.54   to 17.31  
    12/31/2022 67,116 11.15 to 11.08 747,852   4.36   0.27   to 0.47   (3.72)   to (3.91)  
    12/31/2021 30,790 11.58 to 11.53 356,360   6.25   0.27   to 0.47   17.80   to 17.56  
Dimensional VA Short-Term Fixed                                  
    12/31/2025 275,210 11.28 to 11.15 3,101,997   4.25   0.27   to 0.47   4.05   to 3.84  
    12/31/2024 247,352 10.84 to 10.73 2,678,957   6.25   0.27   to 0.47   5.20   to 4.99  
    12/31/2023 148,930 10.31 to 10.22 1,532,735   4.49   0.27   to 0.47   4.70   to 4.49  
    12/31/2022 102,470 9.84 to 9.78 1,007,153   1.46   0.27   to 0.47   (1.42)   to (1.62)  
    12/31/2021 78,002 9.99 to 9.95 778,117   0.01   0.27   to 0.47   (0.46)   to (0.66)  
Dimensional VA U.S. Large Value                                  
    12/31/2025 200,566 17.13 to 16.93 3,429,179   1.97   0.27   to 0.47   15.51   to 15.28  
    12/31/2024 181,441 14.83 to 14.68 2,684,952   2.34   0.27   to 0.47   13.08   to 12.85  
    12/31/2023 121,902 13.11 to 13.01 1,594,443   2.51   0.27   to 0.47   10.62   to 10.40  
    12/31/2022 101,597 11.86 to 11.78 1,201,596   2.74   0.27   to 0.47   (5.13)   to (5.32)  
    12/31/2021 52,319 12.50 to 12.45 653,107   2.32   0.27   to 0.47   26.69   to 26.44  
77
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
Dimensional VA U.S. Targeted Value                                  
    12/31/2025 127,481 $19.35 to $19.11 $              2,463,262   2.22 % 0.27 % to 0.47 % 8.65 % to 8.43 %
    12/31/2024 98,484 17.81 to 17.63 1,751,413   1.59   0.27   to 0.47   7.84   to 7.63  
    12/31/2023 79,486 16.51 to 16.38 1,311,280   1.52   0.27   to 0.47   19.71   to 19.47  
    12/31/2022 76,895 13.79 to 13.71 1,060,221   1.84   0.27   to 0.47   (4.47)   to (4.66)  
    12/31/2021 35,853 14.44 to 14.38 517,428   2.01   0.27   to 0.47   39.30   to 39.03  
Fidelity® VIP Balanced Service Class 2                                  
    12/31/2025 61,586,504 4.23 to 20.55 482,672,463   1.55   0.30   to 2.65   14.61   to 11.99  
    12/31/2024 72,222,769 3.69 to 18.35 488,223,926   1.68   0.30   to 2.65   15.28   to 12.63  
    12/31/2023 82,360,131 3.20 to 16.29 474,442,207   1.54   0.30   to 2.65   20.87   to 18.11  
    12/31/2022 90,884,668 2.65 to 13.79 426,076,806   1.04   0.30   to 2.65   (18.43)   to (20.30)  
    12/31/2021 103,061,636 3.25 to 17.31 585,801,138   0.73   0.30   to 2.65   17.64   to 14.95  
Fidelity® VIP Consumer Staples Initial Class                                
    12/31/2025 594,888 14.24 to 12.86 8,036,627   2.16   0.70   to 2.50   (3.66)   to (5.38)  
    12/31/2024 449,369 14.78 to 13.59 6,362,727   2.26   0.70   to 2.50   4.83   to 2.95  
    12/31/2023 377,482 14.10 to 13.20 5,142,722   2.12   0.70   to 2.50   2.42   to 0.60  
    12/31/2022 255,802 13.76 to 13.12 3,426,928   2.02   0.70   to 2.50   (1.31)   to (3.06)  
    12/31/2021 123,456 13.95 to 13.53 1,692,428   2.98   0.70   to 2.50   13.44   to 11.42  
Fidelity® VIP Contrafund® Initial Class                                  
    12/31/2025 11,994 7.02 to 30.95 127,243   0.14   0.30   to 2.70   21.12   to 18.29  
    12/31/2024 12,541 5.79 to 26.17 108,094   0.19   0.30   to 2.70   33.39   to 30.26  
    12/31/2023 13,437 4.34 to 20.09 95,817   0.47   0.30   to 2.70   33.05   to 29.96  
    12/31/2022 17,526 3.27 to 15.46 97,922   0.43   0.30   to 2.70   (26.53)   to (28.25)  
    12/31/2021 26,578 4.44 to 21.54 239,522   0.05   0.30   to 2.70   27.45   to 24.48  
Fidelity® VIP Contrafund® Service Class 2                                
    12/31/2025 69,030,739 8.25 to 30.16 1,107,943,899   -   0.30   to 2.80   20.83   to 17.90  
    12/31/2024 76,807,430 6.83 to 25.58 998,060,286   0.03   0.30   to 2.80   33.05   to 29.80  
    12/31/2023 85,312,133 5.13 to 19.71 818,065,180   0.26   0.30   to 2.80   32.72   to 29.50  
    12/31/2022 91,926,554 3.87 to 15.22 664,973,940   0.26   0.30   to 2.80   (26.71)   to (28.49)  
    12/31/2021 100,491,552 5.28 to 21.28 994,100,891   0.03   0.30   to 2.80   27.13   to 24.04  
Fidelity® VIP Energy Service Class 2                                  
    12/31/2025 824,044 31.16 to 28.14 24,231,693   2.01   0.50   to 2.30   9.79   to 7.83  
    12/31/2024 827,350 28.38 to 26.10 22,375,264   2.25   0.50   to 2.30   3.50   to 1.64  
    12/31/2023 667,690 27.42 to 25.68 17,617,012   2.45   0.50   to 2.30   0.20   to (1.58)  
    12/31/2022 505,201 27.37 to 26.09 13,435,529   2.46   0.50   to 2.30   62.06   to 59.18  
    12/31/2021 226,711 16.89 to 16.39 3,760,207   3.53   0.50   to 2.30   54.06   to 51.32  
Fidelity® VIP Equity-Income Initial Class                                  
    12/31/2025 17,740 3.69 to 19.66 66,654   1.82   0.30   to 2.70   18.66   to 15.89  
    12/31/2024 18,491 3.11 to 16.96 58,820   1.78   0.30   to 2.70   15.00   to 12.30  
    12/31/2023 19,236 2.70 to 15.10 53,451   1.94   0.30   to 2.70   10.32   to 7.75  
    12/31/2022 20,012 2.45 to 14.02 50,635   1.88   0.30   to 2.70   (5.24)   to (7.45)  
    12/31/2021 21,037 2.59 to 15.15 56,446   1.91   0.30   to 2.70   24.52   to 21.61  
Fidelity® VIP Equity-Income Service Class 2                                
    12/31/2025 7,913,937 4.59 to 19.14 31,356,016   1.59   0.30   to 2.80   18.39   to 15.51  
    12/31/2024 9,039,595 3.88 to 16.57 30,534,972   1.55   0.30   to 2.80   14.71   to 11.91  
    12/31/2023 10,178,460 3.38 to 14.81 30,367,510   1.70   0.30   to 2.80   10.05   to 7.38  
    12/31/2022 11,579,284 3.07 to 13.79 31,755,838   1.66   0.30   to 2.80   (5.53)   to (7.82)  
    12/31/2021 13,003,796 3.25 to 14.96 38,235,541   1.55   0.30   to 2.80   24.23   to 21.21  
Fidelity® VIP Growth Initial Class                                  
    12/31/2025 5,452 8.91 to 38.20 40,698   0.29   0.30   to 2.70   14.56   to 11.88  
    12/31/2024 5,806 7.78 to 34.15 38,019   -   0.30   to 2.70   30.00   to 26.95  
    12/31/2023 6,146 5.98 to 26.90 31,107   0.13   0.30   to 2.70   35.83   to 32.67  
    12/31/2022 6,487 4.40 to 20.27 24,291   0.62   0.30   to 2.70   (24.68)   to (26.44)  
    12/31/2021 6,995 5.85 to 27.56 34,948   -   0.30   to 2.70   22.85   to 19.98  
78
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
Fidelity® VIP Growth Service Class 2                                  
    12/31/2025 6,132,835 $9.79 to $37.27 $           39,631,859   0.05 % 0.30 % to 2.80 % 14.27 % to 11.49 %
    12/31/2024 7,228,451 8.57 to 33.43 41,333,746   -   0.30   to 2.80   29.68   to 26.51  
    12/31/2023 7,797,178 6.61 to 26.42 34,909,236   -   0.30   to 2.80   35.48   to 32.20  
    12/31/2022 8,996,136 4.88 to 19.99 30,132,579   0.36   0.30   to 2.80   (24.87)   to (26.69)  
    12/31/2021 10,219,740 6.49 to 27.27 46,107,542   -   0.30   to 2.80   22.54   to 19.56  
Fidelity® VIP Growth Opportunities Service Class 2                                
    12/31/2025 405,505 53.16 to 46.35 3,695,140   -   1.25   to 2.80   20.13   to 18.32  
    12/31/2024 433,095 44.25 to 39.17 3,294,242   -   1.25   to 2.80   36.84   to 34.77  
    12/31/2023 512,379 32.34 to 29.06 2,839,309   -   1.25   to 2.80   43.52   to 41.36  
    12/31/2022 566,491 22.53 to 20.56 2,200,748   -   1.25   to 2.80   (39.08)   to (40.00)  
    12/31/2021 597,638 36.98 to 34.27 3,820,317   -   1.25   to 2.80   10.29   to 8.63  
Fidelity® VIP Health Care Service Class 2                                  
    12/31/2025 2,093,750 14.20 to 12.83 28,158,801   0.18   0.50   to 2.30   13.53   to 11.50  
    12/31/2024 1,812,699 12.51 to 11.50 21,668,103   -   0.50   to 2.30   4.33   to 2.46  
    12/31/2023 1,414,284 11.99 to 11.23 16,350,368   -   0.50   to 2.30   3.49   to 1.65  
    12/31/2022 798,771 11.59 to 11.04 9,004,288   -   0.50   to 2.30   (13.05)   to (14.60)  
    12/31/2021 563,662 13.33 to 12.93 7,381,141   0.02   0.50   to 2.30   10.89   to 8.91  
Fidelity® VIP Mid Cap Initial Class                                  
    12/31/2025 6,377 4.45 to 18.75 50,018   0.31   0.30   to 2.70   11.42   to 8.82  
    12/31/2024 7,526 4.00 to 17.23 70,376   0.57   0.30   to 2.70   17.14   to 14.39  
    12/31/2023 8,182 3.41 to 15.06 57,825   0.61   0.30   to 2.70   14.73   to 12.06  
    12/31/2022 10,501 2.97 to 13.44 53,442   0.45   0.30   to 2.70   (15.00)   to (16.98)  
    12/31/2021 15,709 3.50 to 16.19 76,481   0.61   0.30   to 2.70   25.23   to 22.30  
Fidelity® VIP Mid Cap Service Class 2                                  
    12/31/2025 35,265,325 5.39 to 18.35 387,032,488   0.25   0.30   to 2.80   11.15   to 8.45  
    12/31/2024 39,115,304 4.85 to 16.92 375,339,733   0.35   0.30   to 2.80   16.82   to 13.97  
    12/31/2023 42,354,398 4.15 to 14.84 340,699,765   0.39   0.30   to 2.80   14.46   to 11.68  
    12/31/2022 45,613,090 3.63 to 13.29 316,552,322   0.26   0.30   to 2.80   (15.22)   to (17.28)  
    12/31/2021 51,504,031 4.28 to 16.07 429,576,602   0.34   0.30   to 2.80   24.93   to 21.89  
Fidelity® VIP Technology Initial Class                                  
    12/31/2025 5,133,927 33.65 to 30.39 162,946,745   -   0.70   to 2.50   21.91   to 19.74  
    12/31/2024 3,824,445 27.60 to 25.38 100,567,757   -   0.70   to 2.50   34.64   to 32.23  
    12/31/2023 2,212,243 20.50 to 19.19 43,654,201   0.16   0.70   to 2.50   57.22   to 54.43  
    12/31/2022 1,156,410 13.04 to 12.43 14,669,451   -   0.70   to 2.50   (36.30)   to (37.44)  
    12/31/2021 817,742 20.47 to 19.87 16,455,465   -   0.70   to 2.50   27.27   to 25.00  
Fidelity® VIP Utilities Initial Class                                  
    12/31/2025 864,041 20.17 to 18.22 16,495,919   2.08   0.70   to 2.50   13.31   to 11.29  
    12/31/2024 574,775 17.80 to 16.37 9,773,856   2.24   0.70   to 2.50   28.10   to 25.80  
    12/31/2023 413,908 13.90 to 13.01 5,546,884   2.43   0.70   to 2.50   (1.72)   to (3.47)  
    12/31/2022 295,507 14.14 to 13.48 4,063,657   2.07   0.70   to 2.50   4.69   to 2.83  
    12/31/2021 85,074 13.51 to 13.11 1,130,117   3.31   0.70   to 2.50   16.68   to 14.60  
Fidelity® VIP Value Strategies Initial Class                                
    12/31/2025 33,409 3.80 to 19.91 378,265   1.01   0.30   to 2.50   7.66   to 5.35  
    12/31/2024 44,617 3.53 to 18.90 440,992   0.92   0.30   to 2.50   9.07   to 6.72  
    12/31/2023 68,984 3.23 to 17.71 507,495   1.20   0.30   to 2.50   20.49   to 17.91  
    12/31/2022 51,589 2.68 to 15.02 384,531   1.10   0.30   to 2.50   (7.30)   to (9.29)  
    12/31/2021 60,020 2.90 to 16.56 445,753   1.64   0.30   to 2.50   33.20   to 30.34  
Fidelity® VIP Value Strategies Service Class 2                                
    12/31/2025 26,709,378 4.89 to 19.21 234,016,020   0.79   0.30   to 2.80   7.38   to 4.77  
    12/31/2024 29,942,057 4.55 to 18.34 241,052,295   0.77   0.30   to 2.80   8.83   to 6.17  
    12/31/2023 32,815,104 4.18 to 17.27 241,899,996   0.89   0.30   to 2.80   20.25   to 17.33  
    12/31/2022 37,320,508 3.48 to 14.72 229,047,613   0.88   0.30   to 2.80   (7.63)   to (9.87)  
    12/31/2021 37,651,512 3.77 to 16.33 243,543,351   1.24   0.30   to 2.80   32.94   to 29.71  

 

79
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
Franklin Allocation Class 4 Shares                                  
    12/31/2025 13,527,847 $2.27 to $13.74 $           39,008,976   1.78 % 0.60 % to 2.80 % 11.86 % to 9.46 %
    12/31/2024 16,287,599 2.03 to 12.55 42,505,855   1.89   0.60   to 2.80   8.23   to 5.91  
    12/31/2023 19,249,639 1.87 to 11.85 46,977,467   1.31   0.60   to 2.80   13.94   to 11.51  
    12/31/2022 22,038,394 1.64 to 10.63 47,702,927   1.50   0.60   to 2.80   (16.69)   to (18.47)  
    12/31/2021 24,994,155 1.97 to 13.04 65,635,756   1.59   0.60   to 2.80   10.87   to 8.50  
Franklin Income Class 2 Shares                                  
    12/31/2025 14,259,275 2.26 to 13.82 29,894,208   5.11   1.00   to 2.80   11.44   to 9.49  
    12/31/2024 16,601,541 2.03 to 12.62 31,464,117   5.20   1.00   to 2.80   6.14   to 4.27  
    12/31/2023 19,220,833 1.91 to 12.10 34,524,329   5.19   1.00   to 2.80   7.55   to 5.67  
    12/31/2022 22,392,372 1.78 to 11.45 37,594,864   4.85   1.00   to 2.80   (6.41)   to (8.04)  
    12/31/2021 25,879,319 1.90 to 12.46 46,639,026   4.76   1.00   to 2.80   15.60   to 13.58  
Franklin Mutual Shares Class 2 Shares                                  
    12/31/2025 3,980,985 2.17 to 13.77 8,103,409   1.99   1.00   to 2.80   10.42   to 8.48  
    12/31/2024 4,548,110 1.97 to 12.69 8,443,401   1.94   1.00   to 2.80   10.16   to 8.22  
    12/31/2023 5,237,841 1.79 to 11.73 8,898,993   1.87   1.00   to 2.80   12.34   to 10.38  
    12/31/2022 5,920,823 1.59 to 10.63 9,000,977   1.83   1.00   to 2.80   (8.35)   to (9.95)  
    12/31/2021 6,532,283 1.74 to 11.80 10,894,622   2.81   1.00   to 2.80   17.99   to 15.92  
Franklin Templeton Foreign Class 2 Shares                                
    12/31/2025 8,704,341 1.50 to 12.71 11,964,461   2.34   1.00   to 2.80   27.92   to 25.68  
    12/31/2024 9,975,714 1.17 to 10.12 10,778,939   2.41   1.00   to 2.80   (1.98)   to (3.71)  
    12/31/2023 11,511,406 1.20 to 10.51 12,776,212   3.24   1.00   to 2.80   19.57   to 17.48  
    12/31/2022 13,094,418 1.00 to 8.94 12,216,487   3.06   1.00   to 2.80   (8.52)   to (10.12)  
    12/31/2021 14,680,216 1.09 to 9.95 15,047,838   1.88   1.00   to 2.80   3.13   to 1.32  
Invesco V.I. American Franchise Series II Shares                                
    12/31/2025 1,299,710 5.77 to 29.36 6,368,845   -   0.30   to 2.80   11.05   to 8.35  
    12/31/2024 1,447,225 5.20 to 27.10 6,458,873   -   0.30   to 2.80   34.16   to 30.88  
    12/31/2023 1,598,373 3.87 to 20.70 5,380,977   -   0.30   to 2.80   40.18   to 36.78  
    12/31/2022 1,850,551 2.76 to 15.14 4,496,437   -   0.30   to 2.80   (31.50)   to (33.17)  
    12/31/2021 2,156,185 4.03 to 22.65 7,746,979   -   0.30   to 2.80   11.31   to 8.61  
Janus Henderson - Enterprise Service Shares                                
    12/31/2025 3,029,789 7.94 to 22.25 13,981,521   0.18   0.30   to 2.80   7.09   to 4.49  
    12/31/2024 3,581,085 7.42 to 21.29 15,556,069   0.64   0.30   to 2.80   14.98   to 12.16  
    12/31/2023 4,510,553 6.45 to 18.98 17,081,165   0.09   0.30   to 2.80   17.42   to 14.58  
    12/31/2022 4,884,256 5.49 to 16.57 15,959,583   0.27   0.30   to 2.80   (16.40)   to (18.43)  
    12/31/2021 5,365,361 6.57 to 20.31 21,479,782   0.25   0.30   to 2.80   16.19   to 13.37  
Janus Henderson - Global Research Service Shares                                
    12/31/2025 6,822,924 4.99 to 24.94 20,505,345   0.59   0.30   to 2.80   20.24   to 17.32  
    12/31/2024 8,024,909 4.15 to 21.26 20,266,507   0.59   0.30   to 2.80   22.90   to 19.89  
    12/31/2023 8,973,319 3.38 to 17.73 18,716,834   0.77   0.30   to 2.80   26.09   to 23.04  
    12/31/2022 9,960,358 2.68 to 14.41 16,749,220   1.47   0.30   to 2.80   (19.85)   to (21.80)  
    12/31/2021 11,113,961 3.34 to 18.43 23,620,614   0.35   0.30   to 2.80   17.44   to 14.59  
Janus Henderson - Mid Cap Value Service Shares                                
    12/31/2025 712,233 16.70 to 14.56 2,740,591   1.43   1.25   to 2.80   4.98   to 3.40  
    12/31/2024 760,008 15.91 to 14.08 2,790,000   0.84   1.25   to 2.80   11.40   to 9.71  
    12/31/2023 783,877 14.28 to 12.84 2,587,633   0.95   1.25   to 2.80   9.74   to 8.09  
    12/31/2022 838,877 13.01 to 11.88 2,531,498   1.16   1.25   to 2.80   (6.94)   to (8.34)  
    12/31/2021 888,292 13.98 to 12.96 2,883,923   0.28   1.25   to 2.80   17.95   to 16.17  
MFS® New Discovery Service Class                                  
    12/31/2025 5,037,195 5.51 to 19.14 22,554,187   -   0.30   to 2.80   12.22   to 9.49  
    12/31/2024 5,843,402 4.91 to 17.48 23,600,846   -   0.30   to 2.80   6.12   to 3.52  
    12/31/2023 6,929,860 4.63 to 16.89 26,715,569   -   0.30   to 2.80   13.91   to 11.15  
    12/31/2022 7,760,463 4.06 to 15.19 26,589,500   -   0.30   to 2.80   (30.20)   to (31.90)  
    12/31/2021 8,859,603 5.82 to 22.31 43,959,107   -   0.30   to 2.80   1.27   to (1.20)  
80
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
MFS® Total Return Service Class                                  
    12/31/2025 8,859,440 $3.21 to $14.52 $           24,972,101   2.50 % 0.30 % to 2.80 % 10.58 % to 7.89 %
    12/31/2024 9,976,823 2.90 to 13.46 25,735,220   2.30   0.30   to 2.80   7.14   to 4.52  
    12/31/2023 11,473,096 2.71 to 12.88 27,972,116   1.81   0.30   to 2.80   9.89   to 7.22  
    12/31/2022 12,855,978 2.46 to 12.01 28,899,652   1.47   0.30   to 2.80   (10.11)   to (12.29)  
    12/31/2021 14,508,866 2.74 to 13.70 36,749,509   1.61   0.30   to 2.80   13.50   to 10.74  
NVIT Fidelity Institutional AM® Emerging Markets Class D Shares                          
    12/31/2025 251 15.96 to 13.12 3,877   0.32   0.30   to 2.50   35.36   to 32.46  
    12/31/2024 255 11.79 to 9.91 2,924   1.35   0.30   to 2.50   5.67   to 3.39  
    12/31/2023 260 11.16 to 9.58 2,828   1.42   0.30   to 2.50   3.49   to 1.28  
    12/31/2022 623 10.78 to 9.46 6,615   0.09   0.30   to 2.50   (25.22)   to (26.82)  
    12/31/2021 1,346 14.42 to 12.93 19,211   0.98   0.30   to 2.50   (7.87)   to (9.84)  
Putnam VT International Value Class IB Shares                                
    12/31/2025(1) 25,779 10.50 to 10.46 270,040   -   0.35   to 2.15   -   to -  
State Street Total Return V.I.S. Class 3 Shares                                
    12/31/2025 9,277,234 20.57 to 14.26 40,205,592   2.24   0.40   to 2.85   15.02   to 12.28  
    12/31/2024 10,812,910 17.88 to 12.70 38,012,499   4.22   0.40   to 2.85   10.61   to 7.96  
    12/31/2023 12,717,631 16.16 to 11.77 38,814,247   1.95   0.40   to 2.85   14.75   to 12.02  
    12/31/2022 14,405,589 14.09 to 10.50 38,543,371   0.38   0.40   to 2.85   (17.05)   to (19.02)  
    12/31/2021 16,476,801 16.98 to 12.97 54,877,619   1.86   0.40   to 2.85   12.75   to 10.07  
TA 60/40 Allocation Service Class                                  
    12/31/2025 8,546,193 18.76 to 15.76 70,747,627   2.12   0.20   to 2.50   14.67   to 12.10  
    12/31/2024 8,670,529 16.36 to 14.06 67,844,067   1.45   0.20   to 2.50   12.11   to 9.58  
    12/31/2023 9,646,407 14.59 to 12.83 66,957,043   1.31   0.20   to 2.50   15.72   to 13.13  
    12/31/2022 7,791,804 12.61 to 11.34 45,596,897   1.05   0.20   to 2.50   (13.97)   to (15.90)  
    12/31/2021 7,268,881 14.66 to 13.49 52,314,019   0.89   0.20   to 2.50   13.06   to 10.53  
TA Aegon Bond Initial Class                                  
    12/31/2025 66,477,958 1.86 to 9.41 105,624,854   6.48   0.30   to 2.80   6.81   to 4.21  
    12/31/2024 69,704,767 1.74 to 9.03 105,444,617   4.18   0.30   to 2.80   1.83   to (0.66)  
    12/31/2023 71,069,764 1.71 to 9.09 107,006,368   0.93   0.30   to 2.80   6.13   to 3.56  
    12/31/2022 74,748,097 1.61 to 8.77 107,584,148   2.62   0.30   to 2.80   (15.09)   to (17.15)  
    12/31/2021 83,873,456 1.89 to 10.59 143,870,348   1.54   0.30   to 2.80   (1.17)   to (3.57)  
TA Aegon Bond Service Class                                  
    12/31/2025 130,152,497 11.63 to 9.32 363,684,512   6.17   0.20   to 2.65   6.57   to 4.02  
    12/31/2024 152,375,845 10.91 to 8.96 397,794,476   3.91   0.20   to 2.65   1.67   to (0.77)  
    12/31/2023 175,074,608 10.73 to 9.03 447,343,314   0.63   0.20   to 2.65   5.97   to 3.45  
    12/31/2022 200,050,355 10.13 to 8.73 480,120,989   2.33   0.20   to 2.65   (15.25)   to (17.27)  
    12/31/2021 232,991,473 11.95 to 10.55 663,798,024   1.26   0.20   to 2.65   (1.27)   to (3.62)  
TA Aegon Core Bond Service Class                                  
    12/31/2025 35,853,779 11.86 to 9.34 201,506,551   2.12   0.20   to 2.65   6.52   to 3.97  
    12/31/2024 42,423,923 11.13 to 8.98 213,707,194   4.79   0.20   to 2.65   0.97   to (1.45)  
    12/31/2023 46,606,096 11.03 to 9.11 228,615,006   2.24   0.20   to 2.65   5.57   to 3.06  
    12/31/2022 51,645,075 10.44 to 8.84 232,049,154   2.34   0.20   to 2.65   (13.17)   to (15.24)  
    12/31/2021 59,035,305 12.03 to 10.43 305,664,647   2.37   0.20   to 2.65   (1.46)   to (3.82)  
TA Aegon High Yield Bond Initial Class                                  
    12/31/2025 15,520,058 3.04 to 12.07 44,331,549   6.92   0.30   to 2.80   8.14   to 5.51  
    12/31/2024 17,223,651 2.82 to 11.44 46,068,879   5.05   0.30   to 2.80   7.11   to 4.49  
    12/31/2023 18,257,942 2.63 to 10.94 45,902,229   4.55   0.30   to 2.80   10.78   to 8.09  
    12/31/2022 19,518,643 2.37 to 10.13 44,804,760   5.80   0.30   to 2.80   (11.39)   to (13.54)  
    12/31/2021 22,080,227 2.68 to 11.71 57,983,166   5.25   0.30   to 2.80   6.03   to 3.45  
81
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA Aegon High Yield Bond Service Class                                  
    12/31/2025 14,537,501 $16.48 to $11.95 $         107,006,555   6.49 % 0.20 % to 2.65 % 8.05 % to 5.47 %
    12/31/2024 16,442,169 15.25 to 11.33 108,305,980   4.67   0.20   to 2.65   6.93   to 4.36  
    12/31/2023 18,852,746 14.26 to 10.86 113,332,925   4.19   0.20   to 2.65   10.65   to 8.02  
    12/31/2022 21,416,206 12.89 to 10.05 111,804,855   5.41   0.20   to 2.65   (11.63)   to (13.74)  
    12/31/2021 25,397,221 14.59 to 11.65 150,400,166   4.93   0.20   to 2.65   6.04   to 3.51  
TA Aegon Sustainable Equity Income Initial Class                                
    12/31/2025 50,859,174 3.21 to 13.66 180,037,391   1.70   0.30   to 2.80   10.92   to 8.23  
    12/31/2024 57,778,153 2.90 to 12.62 186,608,017   2.07   0.30   to 2.80   16.58   to 13.73  
    12/31/2023 64,615,663 2.48 to 11.10 180,433,120   2.18   0.30   to 2.80   5.96   to 3.39  
    12/31/2022 73,304,123 2.34 to 10.74 195,736,594   2.16   0.30   to 2.80   (11.89)   to (14.03)  
    12/31/2021 81,614,682 2.66 to 12.49 249,624,211   2.13   0.30   to 2.80   22.06   to 19.09  
TA Aegon Sustainable Equity Income Service Class                                
    12/31/2025 16,234,031 23.75 to 13.53 105,379,449   1.45   0.20   to 2.65   10.77   to 8.12  
    12/31/2024 18,974,873 21.44 to 12.51 106,682,204   1.81   0.20   to 2.65   16.37   to 13.57  
    12/31/2023 22,043,089 18.42 to 11.02 104,927,601   1.89   0.20   to 2.65   5.79   to 3.28  
    12/31/2022 25,235,399 17.41 to 10.67 112,408,344   1.85   0.20   to 2.65   (12.02)   to (14.11)  
    12/31/2021 28,772,083 19.79 to 12.42 148,018,510   1.87   0.20   to 2.65   21.88   to 18.97  
TA Aegon U.S. Government Securities Initial Class                                
    12/31/2025 29,312,880 1.58 to 8.79 42,174,592   3.88   0.30   to 2.80   5.53   to 2.97  
    12/31/2024 32,249,758 1.49 to 8.54 44,934,386   3.64   0.30   to 2.80   0.03   to (2.42)  
    12/31/2023 33,391,333 1.49 to 8.75 47,656,473   1.76   0.30   to 2.80   3.69   to 1.17  
    12/31/2022 34,781,353 1.44 to 8.65 49,287,955   1.06   0.30   to 2.80   (13.29)   to (15.39)  
    12/31/2021 38,359,008 1.66 to 10.22 63,545,934   2.10   0.30   to 2.80   (2.68)   to (5.05)  
TA Aegon U.S. Government Securities Service Class                              
    12/31/2025 35,371,915 10.66 to 8.60 107,606,218   3.25   0.20   to 2.80   5.35   to 2.69  
    12/31/2024 45,533,108 10.12 to 8.37 142,437,697   2.98   0.20   to 2.80   (0.04)   to (2.58)  
    12/31/2023 60,628,418 10.12 to 8.60 205,897,859   1.39   0.20   to 2.80   3.48   to 0.87  
    12/31/2022 76,151,628 9.78 to 8.52 258,621,629   0.82   0.20   to 2.80   (13.47)   to (15.65)  
    12/31/2021 61,071,608 11.30 to 10.10 193,536,432   1.59   0.20   to 2.80   (2.73)   to (5.19)  
TA American Funds Managed Risk - Balanced Service Class                            
    12/31/2025 44,634,119 18.66 to 14.41 743,637,791   1.60   0.20   to 2.50   11.26   to 8.77  
    12/31/2024 53,133,659 16.77 to 13.25 804,396,471   1.57   0.20   to 2.50   14.14   to 11.56  
    12/31/2023 61,208,733 14.69 to 11.88 820,781,783   2.17   0.20   to 2.50   10.17   to 7.70  
    12/31/2022 67,478,151 13.33 to 11.03 830,364,161   1.50   0.20   to 2.50   (11.60)   to (13.58)  
    12/31/2021 72,975,601 15.08 to 12.76 1,026,960,363   0.88   0.20   to 2.50   12.85   to 10.32  
TA BlackRock Government Money Market Initial Class                              
    12/31/2025 97,912,403 1.30 to 9.43 103,859,898   4.00   0.30   to 2.80   3.76   to 1.23  
    12/31/2024 98,556,242 1.25 to 9.32 105,097,637   4.94   0.30   to 2.80   4.72   to 2.16  
    12/31/2023 108,159,167 1.20 to 9.12 114,069,224   4.75   0.30   to 2.80   4.55   to 2.01  
    12/31/2022 110,925,053 1.14 to 8.94 114,067,668   1.44   0.30   to 2.80   1.10   to (1.35)  
    12/31/2021 98,643,567 1.13 to 9.06 101,398,175   -   0.30   to 2.80   (0.29)   to (2.72)  
TA BlackRock Government Money Market Service Class                            
    12/31/2025 116,351,568 11.47 to 9.37 411,360,290   3.75   0.20   to 2.65   3.60   to 1.13  
    12/31/2024 141,166,269 11.07 to 9.27 485,229,937   4.69   0.20   to 2.65   4.57   to 2.06  
    12/31/2023 180,173,519 10.59 to 9.08 581,963,174   4.56   0.20   to 2.65   4.45   to 1.97  
    12/31/2022 210,945,755 10.14 to 8.91 621,847,346   1.47   0.20   to 2.65   1.20   to (1.21)  
    12/31/2021 172,118,709 10.02 to 9.02 503,096,558   -   0.20   to 2.65   (0.20)   to (2.58)  
TA BlackRock iShares Active Asset Allocation - Conservative Service Class                          
    12/31/2025 49,004,636 15.11 to 11.58 168,044,591   2.52   0.20   to 2.65   8.44   to 5.85  
    12/31/2024 57,912,716 13.94 to 10.94 184,120,243   2.21   0.20   to 2.65   6.26   to 3.71  
    12/31/2023 68,586,058 13.12 to 10.55 204,995,116   1.46   0.20   to 2.65   9.74   to 7.13  
    12/31/2022 80,502,058 11.95 to 9.85 217,092,082   1.27   0.20   to 2.65   (15.46)   to (17.47)  
    12/31/2021 91,220,744 14.14 to 11.93 295,146,037   1.07   0.20   to 2.65   5.53   to 3.01  
82
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA BlackRock iShares Active Asset Allocation - Moderate Service Class                          
    12/31/2025 149,806,710 $15.90 to $12.17 $         750,862,207   2.17 % 0.20 % to 2.65 % 9.28 % to 6.67 %
    12/31/2024 177,251,352 14.55 to 11.41 820,669,613   1.81   0.20   to 2.65   8.84   to 6.23  
    12/31/2023 204,356,201 13.37 to 10.74 869,676,856   1.48   0.20   to 2.65   13.14   to 10.45  
    12/31/2022 229,368,862 11.82 to 9.72 854,204,011   1.30   0.20   to 2.65   (17.30)   to (19.27)  
    12/31/2021 258,985,643 14.29 to 12.05 1,170,053,110   0.87   0.20   to 2.65   8.11   to 5.53  
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class                          
    12/31/2025 68,577,192 16.41 to 12.49 269,021,056   1.77   0.20   to 2.65   10.42   to 7.78  
    12/31/2024 81,093,691 14.86 to 11.59 291,140,268   1.55   0.20   to 2.65   12.28   to 9.59  
    12/31/2023 94,540,924 13.24 to 10.58 305,012,048   1.38   0.20   to 2.65   17.39   to 14.59  
    12/31/2022 105,711,572 11.28 to 9.23 291,832,011   1.27   0.20   to 2.65   (18.48)   to (20.42)  
    12/31/2021 124,534,990 13.83 to 11.60 415,067,378   0.53   0.20   to 2.65   7.41   to 4.84  
TA BlackRock iShares Dynamic Allocation - Balanced Service Class                          
    12/31/2025 84,544,995 16.08 to 1.23 569,436,071   2.33   0.20   to 2.50   9.20   to 6.72  
    12/31/2024 100,335,645 14.73 to 1.15 623,234,628   1.94   0.20   to 2.50   8.53   to 6.05  
    12/31/2023 118,403,453 13.57 to 1.09 674,821,416   1.39   0.20   to 2.50   12.43   to 9.89  
    12/31/2022 137,331,317 12.07 to 0.99 695,481,133   1.14   0.20   to 2.50   (16.06)   to (17.96)  
    12/31/2021 152,615,380 14.38 to 1.20 935,484,103   0.56   0.20   to 2.50   8.95   to 6.47  
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class                          
    12/31/2025 39,038,641 18.54 to 1.51 258,570,524   1.92   0.20   to 2.50   10.13   to 7.63  
    12/31/2024 46,390,434 16.84 to 1.40 285,252,296   1.61   0.20   to 2.50   12.29   to 9.72  
    12/31/2023 54,614,693 15.00 to 1.28 302,181,696   1.28   0.20   to 2.50   17.04   to 14.39  
    12/31/2022 60,523,858 12.81 to 1.12 293,945,929   1.12   0.20   to 2.50   (17.08)   to (18.97)  
    12/31/2021 68,867,990 15.45 to 1.38 405,229,493   0.28   0.20   to 2.50   14.18   to 11.58  
TA BlackRock iShares Edge 100 Service Class                                
    12/31/2025 3,151,537 25.75 to 18.91 73,929,622   1.44   0.20   to 2.50   18.30   to 15.65  
    12/31/2024 3,408,478 21.77 to 16.35 68,296,305   1.38   0.20   to 2.50   14.76   to 12.17  
    12/31/2023 3,467,968 18.97 to 14.58 61,143,111   1.93   0.20   to 2.50   14.25   to 11.69  
    12/31/2022 3,599,875 16.60 to 13.05 56,132,454   1.22   0.20   to 2.50   (15.92)   to (17.81)  
    12/31/2021 3,811,159 19.75 to 15.88 71,242,476   0.94   0.20   to 2.50   18.12   to 15.47  
TA BlackRock iShares Edge 40 Initial Class                                
    12/31/2025 6,630,715 2.27 to 12.32 14,423,816   3.09   0.30   to 2.80   11.31   to 8.60  
    12/31/2024 7,082,352 2.04 to 11.35 13,988,477   2.70   0.30   to 2.80   6.39   to 3.79  
    12/31/2023 7,868,866 1.91 to 10.93 14,792,197   2.28   0.30   to 2.80   9.12   to 6.48  
    12/31/2022 8,499,495 1.75 to 10.27 14,849,485   1.88   0.30   to 2.80   (14.50)   to (16.57)  
    12/31/2021 9,030,676 2.05 to 12.31 18,704,737   1.78   0.30   to 2.80   5.77   to 3.20  
TA BlackRock iShares Edge 40 Service Class                                
    12/31/2025 47,653,095 16.36 to 12.22 163,203,233   2.78   0.20   to 2.65   11.20   to 8.55  
    12/31/2024 55,692,609 14.71 to 11.26 171,911,956   2.43   0.20   to 2.65   6.26   to 3.71  
    12/31/2023 65,038,595 13.84 to 10.86 190,887,402   1.99   0.20   to 2.65   8.85   to 6.26  
    12/31/2022 76,741,941 12.72 to 10.22 202,646,475   1.56   0.20   to 2.65   (14.61)   to (16.64)  
    12/31/2021 90,734,264 14.89 to 12.26 278,799,836   1.52   0.20   to 2.65   5.56   to 3.04  
TA BlackRock iShares Edge 50 Service Class                                
    12/31/2025 23,621,150 17.23 to 13.38 370,981,302   2.40   0.20   to 2.50   12.13   to 9.61  
    12/31/2024 26,567,256 15.36 to 12.21 375,739,965   2.14   0.20   to 2.50   7.58   to 5.15  
    12/31/2023 30,068,075 14.28 to 11.61 399,153,677   1.73   0.20   to 2.50   9.57   to 7.12  
    12/31/2022 32,927,778 13.03 to 10.84 402,867,449   1.31   0.20   to 2.50   (14.65)   to (16.57)  
    12/31/2021 34,207,740 15.27 to 12.99 495,078,284   1.13   0.20   to 2.50   7.53   to 5.11  
TA BlackRock iShares Edge 75 Service Class                                
    12/31/2025 6,982,051 21.04 to 16.01 132,922,005   1.92   0.20   to 2.50   15.24   to 12.66  
    12/31/2024 7,882,702 18.26 to 14.21 131,536,137   1.86   0.20   to 2.50   11.17   to 8.66  
    12/31/2023 8,896,991 16.42 to 13.08 134,912,823   1.77   0.20   to 2.50   11.87   to 9.36  
    12/31/2022 10,313,033 14.68 to 11.96 141,227,812   1.34   0.20   to 2.50   (15.23)   to (17.13)  
    12/31/2021 11,154,353 17.32 to 14.43 182,158,515   1.06   0.20   to 2.50   12.71   to 10.18  
83
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA BlackRock iShares Tactical - Balanced Service Class                              
    12/31/2025 58,331,392 $17.80 to $12.47 $         282,268,313   3.21 % 0.20 % to 2.65 % 12.77 % to 10.08 %
    12/31/2024 69,347,535 15.78 to 11.33 300,918,251   3.56   0.20   to 2.65   8.47   to 5.87  
    12/31/2023 82,260,254 14.55 to 10.70 333,250,811   1.04   0.20   to 2.65   10.43   to 7.81  
    12/31/2022 92,944,316 13.17 to 9.93 345,342,124   0.55   0.20   to 2.65   (19.81)   to (21.73)  
    12/31/2021 105,269,645 16.43 to 12.68 489,372,576   -   0.20   to 2.65   6.18   to 3.64  
TA BlackRock iShares Tactical - Conservative Service Class                            
    12/31/2025 25,429,085 16.29 to 11.62 129,812,607   3.31   0.20   to 2.65   10.43   to 7.80  
    12/31/2024 30,147,652 14.75 to 10.77 142,269,844   3.58   0.20   to 2.65   6.00   to 3.46  
    12/31/2023 35,910,998 13.92 to 10.41 161,481,375   1.22   0.20   to 2.65   7.02   to 4.47  
    12/31/2022 41,071,795 13.00 to 9.97 171,599,206   1.06   0.20   to 2.65   (17.46)   to (19.42)  
    12/31/2021 47,693,615 15.75 to 12.37 238,609,962   1.01   0.20   to 2.65   4.00   to 1.52  
TA BlackRock iShares Tactical - Growth Service Class                              
    12/31/2025 27,578,332 20.99 to 14.57 192,507,433   2.95   0.20   to 2.65   15.35   to 12.60  
    12/31/2024 32,832,220 18.20 to 12.94 202,156,807   3.57   0.20   to 2.65   11.43   to 8.76  
    12/31/2023 38,954,245 16.33 to 11.90 216,586,241   0.87   0.20   to 2.65   13.71   to 11.01  
    12/31/2022 44,175,615 14.36 to 10.72 219,792,873   -   0.20   to 2.65   (18.19)   to (20.14)  
    12/31/2021 52,380,478 17.56 to 13.42 316,811,089   -   0.20   to 2.65   8.99   to 6.39  
TA BlackRock Real Estate Securities Initial Class                                
    12/31/2025 7,353,569 2.28 to 11.25 22,369,003   1.82   0.30   to 2.80   9.19   to 6.53  
    12/31/2024 7,858,107 2.08 to 10.56 22,139,318   2.17   0.30   to 2.80   0.95   to (1.52)  
    12/31/2023 8,434,560 2.07 to 10.73 23,618,963   5.92   0.30   to 2.80   12.99   to 10.25  
    12/31/2022 9,219,510 1.83 to 9.73 23,221,304   3.36   0.30   to 2.80   (28.40)   to (30.15)  
    12/31/2021 10,592,715 2.55 to 13.93 37,581,657   2.57   0.30   to 2.80   25.85   to 22.79  
TA BlackRock Real Estate Securities Service Class                                
    12/31/2025 12,111,319 13.83 to 11.18 60,317,243   1.42   0.20   to 2.65   9.10   to 6.50  
    12/31/2024 13,623,482 12.68 to 10.49 60,493,118   1.76   0.20   to 2.65   0.82   to (1.60)  
    12/31/2023 15,474,501 12.57 to 10.66 65,908,004   5.28   0.20   to 2.65   12.92   to 10.23  
    12/31/2022 17,147,274 11.13 to 9.67 63,353,865   2.90   0.20   to 2.65   (28.53)   to (30.23)  
    12/31/2021 18,935,860 15.58 to 13.87 96,045,926   2.14   0.20   to 2.65   25.60   to 22.60  
TA BlackRock Tactical Allocation Service Class                                
    12/31/2025 142,882,040 20.89 to 14.35 682,707,976   2.02   0.20   to 2.80   11.50   to 8.68  
    12/31/2024 171,852,939 18.74 to 13.21 752,586,021   1.50   0.20   to 2.80   12.26   to 9.40  
    12/31/2023 205,309,701 16.69 to 12.07 821,349,625   2.45   0.20   to 2.80   14.65   to 11.76  
    12/31/2022 235,861,929 14.56 to 10.80 838,532,604   3.63   0.20   to 2.80   (16.38)   to (18.49)  
    12/31/2021 270,119,713 17.41 to 13.25 1,153,148,970   2.45   0.20   to 2.80   7.42   to 4.70  
TA Goldman Sachs 70/30 Service Class                                  
    12/31/2025 717,972 18.06 to 16.31 12,261,380   1.13   0.20   to 2.00   17.53   to 15.44  
    12/31/2024 427,176 15.37 to 14.13 6,273,648   1.26   0.20   to 2.00   11.93   to 9.92  
    12/31/2023 308,297 13.73 to 12.85 4,086,431   1.58   0.20   to 2.00   16.02   to 13.95  
    12/31/2022 194,145 11.83 to 11.28 2,239,896   1.96   0.20   to 2.00   (17.27)   to (18.74)  
    12/31/2021 129,421 14.30 to 13.88 1,822,679   1.07   0.20   to 2.00   12.86   to 10.85  
TA Goldman Sachs Managed Risk - Balanced ETF Service Class                            
    12/31/2025 505,482,219 18.22 to 13.03 3,224,033,171   2.51   0.20   to 2.80   10.55   to 7.75  
    12/31/2024 597,355,411 16.48 to 12.09 3,487,626,489   2.18   0.20   to 2.80   8.85   to 6.09  
    12/31/2023 705,336,234 15.14 to 11.40 3,804,945,152   1.47   0.20   to 2.80   12.97   to 10.12  
    12/31/2022 807,220,285 13.40 to 10.35 3,853,036,450   1.49   0.20   to 2.80   (14.43)   to (16.60)  
    12/31/2021 911,778,849 15.67 to 12.41 5,086,400,083   1.13   0.20   to 2.80   9.14   to 6.38  
TA Goldman Sachs Managed Risk - Conservative ETF Service Class                          
    12/31/2025 88,725,901 16.09 to 11.57 343,588,028   2.77   0.20   to 2.80   9.85   to 7.07  
    12/31/2024 104,615,436 14.65 to 10.81 371,166,097   2.43   0.20   to 2.80   6.48   to 3.77  
    12/31/2023 123,760,034 13.76 to 10.42 417,072,948   1.76   0.20   to 2.80   10.37   to 7.59  
    12/31/2022 142,276,449 12.47 to 9.68 437,958,614   1.60   0.20   to 2.80   (12.00)   to (14.23)  
    12/31/2021 163,346,521 14.17 to 11.29 576,424,580   1.56   0.20   to 2.80   2.55   to (0.04)  
84
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA Goldman Sachs Managed Risk - Growth ETF Service Class                            
    12/31/2025 304,451,735 $22.41 to $15.49 $     1,481,101,628   1.90 % 0.20 % to 2.80 % 12.05 % to 9.22 %
    12/31/2024 364,337,317 20.00 to 14.18 1,609,880,856   1.79   0.20   to 2.80   13.00   to 10.13  
    12/31/2023 431,747,039 17.70 to 12.88 1,719,739,409   1.43   0.20   to 2.80   17.44   to 14.48  
    12/31/2022 492,920,874 15.07 to 11.25 1,689,317,039   1.40   0.20   to 2.80   (14.69)   to (16.84)  
    12/31/2021 554,160,883 17.67 to 13.53 2,218,534,421   0.88   0.20   to 2.80   13.82   to 10.94  
TA Great Lakes Advisors Large Cap Value Service Class                              
    12/31/2025 5,699,433 20.41 to 17.15 75,766,432   0.81   0.20   to 2.50   23.40   to 20.64  
    12/31/2024 6,280,483 16.54 to 14.21 63,642,529   0.89   0.20   to 2.50   16.59   to 13.96  
    12/31/2023 6,230,632 14.19 to 12.47 53,852,977   0.88   0.20   to 2.50   12.56   to 10.04  
    12/31/2022 7,406,148 12.60 to 11.34 51,430,920   0.29   0.20   to 2.50   (7.57)   to (9.64)  
    12/31/2021 5,761,773 13.63 to 12.54 43,772,055   0.77   0.20   to 2.50   30.30   to 27.38  
TA International Focus Initial Class                                  
    12/31/2025 25,936,901 2.65 to 13.30 53,155,006   1.72   0.30   to 2.80   6.16   to 3.57  
    12/31/2024 27,360,881 2.50 to 12.84 53,654,072   2.30   0.30   to 2.80   (1.35)   to (3.76)  
    12/31/2023 29,055,745 2.54 to 13.34 58,522,612   1.99   0.30   to 2.80   12.20   to 9.48  
    12/31/2022 31,212,746 2.26 to 12.19 56,973,368   2.97   0.30   to 2.80   (20.28)   to (22.22)  
    12/31/2021 34,020,753 2.83 to 15.67 78,746,427   1.24   0.30   to 2.80   10.49   to 7.80  
TA International Focus Service Class                                  
    12/31/2025 10,472,945 16.67 to 13.17 76,544,752   1.47   0.20   to 2.65   6.02   to 3.49  
    12/31/2024 12,151,674 15.72 to 12.72 80,928,770   2.11   0.20   to 2.65   (1.52)   to (3.89)  
    12/31/2023 13,632,374 15.96 to 13.24 87,960,039   1.75   0.20   to 2.65   12.05   to 9.38  
    12/31/2022 15,318,384 14.25 to 12.10 88,745,241   2.75   0.20   to 2.65   (20.45)   to (22.35)  
    12/31/2021 16,691,452 17.91 to 15.59 123,852,336   1.04   0.20   to 2.65   10.41   to 7.77  
TA Janus Balanced Service Class                                  
    12/31/2025 81,530,981 28.13 to 18.34 728,731,935   1.86   0.20   to 2.65   13.24   to 10.54  
    12/31/2024 99,246,021 24.84 to 16.60 792,567,560   1.69   0.20   to 2.65   14.62   to 11.87  
    12/31/2023 118,324,209 21.67 to 14.83 829,945,620   1.13   0.20   to 2.65   14.79   to 12.05  
    12/31/2022 132,159,399 18.88 to 13.24 820,625,445   0.83   0.20   to 2.65   (16.93)   to (18.91)  
    12/31/2021 153,039,404 22.73 to 16.33 1,132,349,414   1.12   0.20   to 2.65   15.21   to 12.46  
TA Janus Mid-Cap Growth Initial Class                                  
    12/31/2025 18,708,161 5.83 to 22.55 65,176,772   0.01   0.30   to 2.80   7.79   to 5.17  
    12/31/2024 19,769,469 5.41 to 21.44 64,485,861   0.13   0.30   to 2.80   14.04   to 11.25  
    12/31/2023 22,651,450 4.74 to 19.27 65,869,315   -   0.30   to 2.80   16.69   to 13.87  
    12/31/2022 24,063,853 4.06 to 16.92 60,568,907   -   0.30   to 2.80   (16.96)   to (18.98)  
    12/31/2021 26,868,733 4.89 to 20.89 82,603,363   0.27   0.30   to 2.80   16.95   to 14.10  
TA Janus Mid-Cap Growth Service Class                                  
    12/31/2025 11,160,712 31.31 to 22.34 186,538,189   -   0.20   to 2.65   7.63   to 5.07  
    12/31/2024 12,728,662 29.09 to 21.26 186,713,294   -   0.20   to 2.65   13.84   to 11.11  
    12/31/2023 14,077,641 25.55 to 19.14 174,973,421   -   0.20   to 2.65   16.57   to 13.80  
    12/31/2022 15,395,879 21.92 to 16.82 157,131,166   -   0.20   to 2.65   (17.10)   to (19.08)  
    12/31/2021 17,742,369 26.44 to 20.78 217,859,738   0.10   0.20   to 2.65   16.76   to 13.97  
TA JPMorgan Asset Allocation - Conservative Initial Class                            
    12/31/2025 47,321,900 2.34 to 12.04 101,539,926   3.95   0.30   to 2.80   10.30   to 7.61  
    12/31/2024 52,016,413 2.12 to 11.19 102,549,467   2.02   0.30   to 2.80   5.40   to 2.82  
    12/31/2023 56,487,638 2.01 to 10.88 106,961,227   2.29   0.30   to 2.80   6.73   to 4.14  
    12/31/2022 61,620,368 1.89 to 10.45 110,777,412   5.55   0.30   to 2.80   (15.61)   to (17.66)  
    12/31/2021 68,625,564 2.24 to 12.69 148,147,123   2.49   0.30   to 2.80   5.58   to 3.02  
TA JPMorgan Asset Allocation - Conservative Service Class                            
    12/31/2025 135,727,067 16.05 to 11.93 501,209,926   3.71   0.20   to 2.65   10.13   to 7.51  
    12/31/2024 163,052,356 14.57 to 11.10 545,526,815   1.76   0.20   to 2.65   5.31   to 2.78  
    12/31/2023 191,784,502 13.84 to 10.80 613,717,801   1.97   0.20   to 2.65   6.62   to 4.08  
    12/31/2022 224,397,985 12.98 to 10.37 674,855,947   5.30   0.20   to 2.65   (15.77)   to (17.78)  
    12/31/2021 261,747,697 15.41 to 12.62 927,848,971   2.18   0.20   to 2.65   5.42   to 2.90  
85
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA JPMorgan Asset Allocation - Moderate Initial Class                              
    12/31/2025 97,606,246 $2.79 to $13.62 $         250,142,052   3.31 % 0.30 % to 2.80 % 11.56 % to 8.85 %
    12/31/2024 106,094,265 2.50 to 12.51 247,279,731   1.59   0.30   to 2.80   7.70   to 5.06  
    12/31/2023 114,464,373 2.32 to 11.91 251,588,954   2.09   0.30   to 2.80   8.78   to 6.14  
    12/31/2022 122,274,778 2.14 to 11.22 250,311,461   5.23   0.30   to 2.80   (16.33)   to (18.36)  
    12/31/2021 136,563,569 2.55 to 13.74 338,721,084   1.91   0.30   to 2.80   8.85   to 6.21  
TA JPMorgan Asset Allocation - Moderate Service Class                            
    12/31/2025 646,292,689 18.77 to 13.48 3,887,070,354   3.06   0.20   to 2.65   11.31   to 8.66  
    12/31/2024 762,220,255 16.86 to 12.41 4,113,122,303   1.34   0.20   to 2.65   7.48   to 4.90  
    12/31/2023 890,382,625 15.69 to 11.83 4,423,308,426   1.83   0.20   to 2.65   8.64   to 6.05  
    12/31/2022 1,012,694,240 14.44 to 11.15 4,582,904,477   5.06   0.20   to 2.65   (16.42)   to (18.41)  
    12/31/2021 1,144,562,296 17.27 to 13.67 6,100,877,248   1.70   0.20   to 2.65   8.71   to 6.12  
TA JPMorgan Asset Allocation - Moderate Growth Initial Class                            
    12/31/2025 115,210,587 3.29 to 15.85 358,579,202   2.70   0.30   to 2.80   12.79   to 10.05  
    12/31/2024 128,370,190 2.91 to 14.40 358,547,219   1.21   0.30   to 2.80   10.71   to 8.01  
    12/31/2023 143,190,859 2.63 to 13.33 366,205,798   1.97   0.30   to 2.80   11.88   to 9.17  
    12/31/2022 156,859,849 2.35 to 12.21 362,843,518   5.31   0.30   to 2.80   (17.60)   to (19.60)  
    12/31/2021 171,255,655 2.85 to 15.19 487,440,782   2.18   0.30   to 2.80   13.61   to 10.84  
TA JPMorgan Asset Allocation - Moderate Growth Service Class                          
    12/31/2025 451,491,732 22.84 to 15.70 1,972,997,444   2.45   0.20   to 2.65   12.62   to 9.93  
    12/31/2024 535,520,369 20.28 to 14.28 2,128,713,066   0.96   0.20   to 2.65   10.48   to 7.83  
    12/31/2023 628,743,570 18.36 to 13.24 2,308,388,180   1.72   0.20   to 2.65   11.71   to 9.05  
    12/31/2022 725,895,241 16.43 to 12.14 2,406,528,834   5.11   0.20   to 2.65   (17.69)   to (19.65)  
    12/31/2021 822,991,778 19.96 to 15.11 3,313,249,689   1.94   0.20   to 2.65   13.48   to 10.77  
TA JPMorgan Diversified Equity Allocation Initial Class                              
    12/31/2025 60,227,351 4.34 to 21.12 251,474,673   1.46   0.30   to 2.80   19.10   to 16.20  
    12/31/2024 67,361,747 3.64 to 18.17 239,653,946   1.33   0.30   to 2.80   16.02   to 13.19  
    12/31/2023 72,743,188 3.14 to 16.05 225,809,768   1.72   0.30   to 2.80   19.98   to 17.07  
    12/31/2022 77,321,212 2.62 to 13.71 202,466,102   5.94   0.30   to 2.80   (22.80)   to (24.67)  
    12/31/2021 84,810,742 3.39 to 18.21 291,759,374   1.69   0.30   to 2.80   19.28   to 16.38  
TA JPMorgan Diversified Equity Allocation Service Class                            
    12/31/2025 26,764,774 31.72 to 20.90 238,592,088   1.24   0.20   to 2.65   18.82   to 15.99  
    12/31/2024 32,519,299 26.69 to 18.02 231,556,982   1.13   0.20   to 2.65   15.86   to 13.08  
    12/31/2023 35,529,741 23.04 to 15.94 217,776,216   1.49   0.20   to 2.65   19.76   to 16.92  
    12/31/2022 39,068,035 19.24 to 13.63 198,045,724   5.78   0.20   to 2.65   (22.89)   to (24.73)  
    12/31/2021 43,761,584 24.95 to 18.11 277,338,674   1.48   0.20   to 2.65   19.11   to 16.27  
TA JPMorgan Enhanced Index Initial Class                                
    12/31/2025 24,314,141 7.44 to 27.04 169,029,961   0.70   0.30   to 2.80   15.87   to 13.05  
    12/31/2024 25,602,460 6.42 to 23.92 154,998,247   0.66   0.30   to 2.80   23.86   to 20.83  
    12/31/2023 27,270,068 5.19 to 19.79 136,224,374   0.81   0.30   to 2.80   27.28   to 24.20  
    12/31/2022 28,882,906 4.07 to 15.94 114,567,030   0.67   0.30   to 2.80   (18.59)   to (20.57)  
    12/31/2021 30,932,676 5.00 to 20.07 152,720,740   0.78   0.30   to 2.80   29.73   to 26.58  
TA JPMorgan Enhanced Index Service Class                                
    12/31/2025 5,422,257 48.79 to 26.78 150,434,870   0.50   0.20   to 2.65   15.67   to 12.91  
    12/31/2024 5,997,092 42.18 to 23.72 139,419,849   0.47   0.20   to 2.65   23.65   to 20.69  
    12/31/2023 6,399,004 34.11 to 19.65 113,074,541   0.60   0.20   to 2.65   27.14   to 24.11  
    12/31/2022 6,768,853 26.83 to 15.83 90,422,301   0.40   0.20   to 2.65   (18.71)   to (20.65)  
    12/31/2021 7,586,839 33.01 to 19.95 120,395,636   0.59   0.20   to 2.65   29.53   to 26.44  
TA JPMorgan International Moderate Growth Initial Class                            
    12/31/2025 - 1.98 to 13.72 -   -   0.30   to 2.50   17.66   to 15.14  
    12/31/2024 68,935 1.68 to 11.91 112,599   2.43   0.30   to 2.50   1.73   to (0.47)  
    12/31/2023 67,831 1.65 to 11.97 109,080   1.63   0.30   to 2.50   8.84   to 6.51  
    12/31/2022 68,775 1.52 to 11.24 101,768   5.18   0.30   to 2.50   (17.53)   to (19.30)  
    12/31/2021 68,180 1.84 to 13.92 122,510   1.52   0.30   to 2.50   8.92   to 6.59  
86
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA JPMorgan International Moderate Growth Service Class                            
    12/31/2025 110,374,473 $17.14 to $13.22 $         300,105,432   3.08 % 0.20 % to 2.80 % 17.43 % to 14.46 %
    12/31/2024 130,009,345 14.60 to 11.55 304,809,793   2.09   0.20   to 2.80   1.69   to (0.90)  
    12/31/2023 150,392,538 14.35 to 11.66 353,188,989   1.33   0.20   to 2.80   8.48   to 5.75  
    12/31/2022 173,451,373 13.23 to 11.02 377,974,105   4.74   0.20   to 2.80   (17.59)   to (19.67)  
    12/31/2021 197,465,613 16.05 to 13.72 526,796,115   1.29   0.20   to 2.80   8.79   to 6.04  
TA JPMorgan Tactical Allocation Service Class                                
    12/31/2025 119,783,509 15.64 to 11.39 742,379,927   2.82   0.20   to 2.65   8.61   to 6.02  
    12/31/2024 142,141,496 14.40 to 10.74 806,124,158   2.32   0.20   to 2.65   3.87   to 1.38  
    12/31/2023 166,578,106 13.86 to 10.59 905,816,088   1.52   0.20   to 2.65   8.35   to 5.77  
    12/31/2022 189,154,578 12.79 to 10.02 943,736,725   1.52   0.20   to 2.65   (15.20)   to (17.22)  
    12/31/2021 213,240,216 15.08 to 12.10 1,248,715,111   1.51   0.20   to 2.65   4.42   to 1.93  
TA Madison Diversified Income Service Class                                
    12/31/2025 19,822,636 16.48 to 11.84 101,660,591   2.70   0.20   to 2.50   7.00   to 4.60  
    12/31/2024 22,820,095 15.40 to 11.32 108,108,472   2.49   0.20   to 2.50   3.26   to 0.93  
    12/31/2023 26,990,453 14.91 to 11.22 123,863,084   1.97   0.20   to 2.50   3.76   to 1.44  
    12/31/2022 32,160,966 14.37 to 11.06 137,324,787   1.64   0.20   to 2.50   (10.56)   to (12.57)  
    12/31/2021 35,589,407 16.07 to 12.65 169,105,407   1.50   0.20   to 2.50   7.65   to 5.24  
TA Market Participation Strategy Service Class                                
    12/31/2025 33,676,487 24.30 to 16.68 256,950,453   1.24   0.20   to 2.50   9.80   to 7.34  
    12/31/2024 39,853,535 22.13 to 15.54 283,247,749   1.50   0.20   to 2.50   14.70   to 12.12  
    12/31/2023 47,725,398 19.29 to 13.86 301,574,446   0.40   0.20   to 2.50   11.33   to 8.84  
    12/31/2022 53,929,847 17.33 to 12.74 312,480,977   0.03   0.20   to 2.50   (15.47)   to (17.37)  
    12/31/2021 61,507,455 20.50 to 15.41 426,246,408   0.49   0.20   to 2.50   14.22   to 11.66  
TA Morgan Stanley Global Allocation Service Class                                
    12/31/2025 164,520,778 20.36 to 14.62 661,770,172   5.96   0.20   to 2.65   17.28   to 14.48  
    12/31/2024 196,913,083 17.36 to 12.77 688,403,416   4.55   0.20   to 2.65   6.65   to 4.09  
    12/31/2023 232,865,808 16.28 to 12.27 774,704,522   -   0.20   to 2.65   13.46   to 10.76  
    12/31/2022 270,061,762 14.35 to 11.08 801,306,383   0.08   0.20   to 2.65   (17.93)   to (19.88)  
    12/31/2021 308,465,105 17.48 to 13.83 1,114,949,967   0.48   0.20   to 2.65   7.96   to 5.39  
TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class                          
    12/31/2025 14,364,112 13.94 to 11.56 178,260,333   11.32   0.20   to 2.50   13.99   to 11.43  
    12/31/2024 17,082,652 12.23 to 10.37 188,168,206   -   0.20   to 2.50   4.85   to 2.48  
    12/31/2023 19,582,608 11.66 to 10.12 207,865,302   18.86   0.20   to 2.50   8.79   to 6.35  
    12/31/2022 21,608,676 10.72 to 9.52 213,130,058   15.04   0.20   to 2.50   (16.39)   to (18.27)  
    12/31/2021 23,764,763 12.82 to 11.64 283,342,932   5.17   0.20   to 2.50   6.96   to 4.57  
TA MSCI EAFE Index Service Class                                  
    12/31/2025 6,223,807 18.24 to 14.98 103,891,599   2.11   0.35   to 2.65   30.47   to 27.55  
    12/31/2024 5,763,966 13.98 to 11.75 74,533,906   2.41   0.35   to 2.65   2.79   to 0.47  
    12/31/2023 4,983,030 13.60 to 11.69 63,337,424   2.32   0.35   to 2.65   17.05   to 14.43  
    12/31/2022 4,899,054 11.62 to 10.22 53,843,555   2.93   0.35   to 2.65   (14.75)   to (16.65)  
    12/31/2021 4,875,589 13.63 to 12.26 63,434,579   1.48   0.35   to 2.65   10.56   to 8.09  
TA Multi-Managed Balanced Initial Class                                  
    12/31/2025 20,665,299 4.94 to 18.20 94,274,667   2.09   0.30   to 2.80   12.72   to 9.98  
    12/31/2024 22,540,752 4.38 to 16.55 92,302,196   1.94   0.30   to 2.80   14.59   to 11.79  
    12/31/2023 24,814,436 3.82 to 14.81 89,828,718   1.61   0.30   to 2.80   18.37   to 15.50  
    12/31/2022 25,346,787 3.23 to 12.82 78,313,346   1.17   0.30   to 2.80   (16.53)   to (18.56)  
    12/31/2021 27,725,298 3.87 to 15.74 103,782,711   1.15   0.30   to 2.80   16.69   to 13.85  
TA Multi-Managed Balanced Service Class                                
    12/31/2025 82,996,121 28.88 to 18.03 875,330,331   1.86   0.20   to 2.65   12.50   to 9.82  
    12/31/2024 100,284,431 25.67 to 16.42 966,147,178   1.69   0.20   to 2.65   14.41   to 11.67  
    12/31/2023 120,743,587 22.44 to 14.70 1,057,526,501   1.33   0.20   to 2.65   18.20   to 15.39  
    12/31/2022 140,779,682 18.98 to 12.74 1,047,886,498   0.91   0.20   to 2.65   (16.66)   to (18.64)  
    12/31/2021 157,878,316 22.77 to 15.66 1,423,573,591   0.95   0.20   to 2.65   16.56   to 13.78  
87
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA PineBridge Inflation Opportunities Service Class                              
    12/31/2025 30,924,621 $11.35 to $9.99 $           78,512,836   3.27 % 0.20 % to 2.65 % 5.14 % to 2.63 %
    12/31/2024 37,141,634 10.79 to 9.73 90,617,551   3.32   0.20   to 2.65   1.62   to (0.82)  
    12/31/2023 45,699,541 10.62 to 9.81 112,871,493   5.27   0.20   to 2.65   5.23   to 2.73  
    12/31/2022 53,228,378 10.09 to 9.55 131,701,424   3.75   0.20   to 2.65   (10.73)   to (12.86)  
    12/31/2021 58,881,898 11.31 to 10.96 150,647,481   1.17   0.20   to 2.65   3.65   to 1.18  
TA ProFunds UltraBear Service Class (OAM)                                
    12/31/2025 1,340,128 6.72 to 6.58 8,878,563   2.45   0.45   to 2.00   (27.93)   to (29.03)  
    12/31/2024 51,083,774 9.32 to 9.27 10,252,417   2.57   0.45   to 2.00   -   to -  
TA S&P 500 Index Initial Class                                  
    12/31/2025 1,801,364 17.29 to 15.89 19,466,057   0.95   0.17   to 2.50   17.45   to 14.78  
    12/31/2024 883,218 14.72 to 13.84 12,966,233   1.06   0.17   to 2.50   24.61   to 21.76  
    12/31/2023 146,427 11.81 to 11.37 1,726,833   1.05   0.17   to 2.50   25.88   to 23.02  
    12/31/2022(1) 66,738 9.38 to 9.24 625,896   1.24   0.17   to 2.50   -   to -  
TA S&P 500 Index Service Class                                  
    12/31/2025 31,979,561 30.95 to 25.43 905,867,418   0.73   0.35   to 2.65   16.96   to 14.34  
    12/31/2024 29,566,724 26.46 to 22.24 723,485,984   0.78   0.35   to 2.65   24.11   to 21.31  
    12/31/2023 24,637,916 21.32 to 18.33 490,582,631   0.97   0.35   to 2.65   25.30   to 22.50  
    12/31/2022 22,165,992 17.02 to 14.96 356,036,035   0.95   0.35   to 2.65   (18.72)   to (20.54)  
    12/31/2021 22,144,759 20.94 to 18.83 442,108,663   0.82   0.35   to 2.65   27.69   to 24.83  
TA Small/Mid Cap Value Initial Class                                  
    12/31/2025 8,578,949 4.81 to 16.16 83,444,556   1.24   0.30   to 2.80   9.48   to 6.82  
    12/31/2024 9,419,247 4.39 to 15.13 84,655,470   0.93   0.30   to 2.80   8.53   to 5.88  
    12/31/2023 10,492,387 4.05 to 14.29 88,584,896   1.05   0.30   to 2.80   12.06   to 9.34  
    12/31/2022 11,601,332 3.61 to 13.07 88,179,355   0.59   0.30   to 2.80   (8.58)   to (10.80)  
    12/31/2021 13,197,822 3.95 to 14.65 109,376,817   0.65   0.30   to 2.80   27.74   to 24.64  
TA Small/Mid Cap Value Service Class                                  
    12/31/2025 13,964,519 29.56 to 16.01 181,431,188   1.05   0.20   to 2.65   9.29   to 6.69  
    12/31/2024 15,781,524 27.05 to 15.00 180,829,221   0.75   0.20   to 2.65   8.34   to 5.75  
    12/31/2023 17,657,069 24.97 to 14.19 177,182,928   0.83   0.20   to 2.65   11.93   to 9.26  
    12/31/2022 19,264,915 22.31 to 12.98 166,821,675   0.33   0.20   to 2.65   (8.71)   to (10.89)  
    12/31/2021 21,985,473 24.44 to 14.57 206,377,951   0.50   0.20   to 2.65   27.56   to 24.52  
TA T. Rowe Price Small Cap Initial Class                                  
    12/31/2025 20,049,814 6.58 to 18.71 101,340,174   -   0.30   to 2.80   9.94   to 7.27  
    12/31/2024 22,276,514 5.99 to 17.44 103,423,099   -   0.30   to 2.80   12.44   to 9.69  
    12/31/2023 25,171,218 5.32 to 15.90 104,976,029   -   0.30   to 2.80   20.84   to 17.91  
    12/31/2022 26,666,444 4.41 to 13.49 93,280,357   -   0.30   to 2.80   (22.62)   to (24.50)  
    12/31/2021 29,162,918 5.69 to 17.86 134,105,176   -   0.30   to 2.80   11.04   to 8.34  
TA T. Rowe Price Small Cap Service Class                                  
    12/31/2025 17,959,130 35.33 to 18.53 357,258,738   -   0.20   to 2.65   9.72   to 7.10  
    12/31/2024 20,222,145 32.20 to 17.31 348,760,461   -   0.20   to 2.65   12.38   to 9.69  
    12/31/2023 22,191,634 28.65 to 15.78 329,615,518   -   0.20   to 2.65   20.64   to 17.77  
    12/31/2022 24,202,320 23.75 to 13.40 290,913,475   -   0.20   to 2.65   (22.75)   to (24.60)  
    12/31/2021 26,971,176 30.75 to 17.77 416,959,652   -   0.20   to 2.65   10.86   to 8.21  
TA TSW International Equity Initial Class                                  
    12/31/2025 24,344,780 2.97 to 15.99 74,392,701   2.24   0.30   to 2.80   31.47   to 28.27  
    12/31/2024 26,715,316 2.26 to 12.47 63,169,262   2.91   0.30   to 2.80   3.07   to 0.55  
    12/31/2023 29,017,224 2.19 to 12.40 67,677,253   1.09   0.30   to 2.80   15.13   to 12.34  
    12/31/2022 30,412,058 1.90 to 11.04 62,144,473   3.35   0.30   to 2.80   (14.66)   to (16.73)  
    12/31/2021 32,805,628 2.23 to 13.25 79,450,845   1.82   0.30   to 2.80   13.07   to 10.32  
88
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
TA TSW International Equity Service Class                                
    12/31/2025 6,988,010 $20.78 to $15.83 $           64,808,123   2.12 % 0.20 % to 2.65 % 31.16 % to 28.03 %
    12/31/2024 7,256,967 15.85 to 12.36 50,338,682   2.73   0.20   to 2.65   2.91   to 0.44  
    12/31/2023 7,954,315 15.40 to 12.31 52,560,455   0.84   0.20   to 2.65   15.03   to 12.29  
    12/31/2022 8,682,343 13.39 to 10.96 48,319,769   3.08   0.20   to 2.65   (14.81)   to (16.84)  
    12/31/2021 9,840,797 15.71 to 13.18 61,790,900   1.67   0.20   to 2.65   12.98   to 10.28  
TA TSW Mid Cap Value Opportunities Service Class                                
    12/31/2025 20,072,747 28.28 to 15.03 204,234,863   1.03   0.20   to 2.80   9.14   to 6.38  
    12/31/2024 22,790,847 25.91 to 14.12 210,716,491   1.22   0.20   to 2.80   7.87   to 5.13  
    12/31/2023 26,043,791 24.02 to 13.44 220,560,051   1.25   0.20   to 2.80   10.35   to 7.57  
    12/31/2022 30,030,034 21.77 to 12.49 224,237,611   0.55   0.20   to 2.80   (8.61)   to (10.92)  
    12/31/2021 32,677,232 23.82 to 14.02 275,957,681   0.61   0.20   to 2.80   28.59   to 25.34  
TA WMC US Growth Initial Class                                  
    12/31/2025 124,073,301 8.20 to 34.12 759,130,177   -   0.30   to 2.80   17.41   to 14.55  
    12/31/2024 140,016,590 6.98 to 29.78 737,945,218   0.01   0.30   to 2.80   28.61   to 25.46  
    12/31/2023 156,448,883 5.43 to 23.74 647,727,797   0.04   0.30   to 2.80   41.66   to 38.23  
    12/31/2022 112,484,165 3.83 to 17.17 332,806,510   -   0.30   to 2.80   (31.55)   to (33.22)  
    12/31/2021 126,944,457 5.60 to 25.72 555,926,199   0.08   0.30   to 2.80   20.30   to 17.38  
TA WMC US Growth Service Class                                  
    12/31/2025 31,876,502 60.46 to 33.80 906,168,701   -   0.20   to 2.65   17.23   to 14.44  
    12/31/2024 36,923,683 51.57 to 29.54 868,451,408   -   0.20   to 2.65   28.44   to 25.35  
    12/31/2023 41,563,604 40.15 to 23.56 743,992,798   -   0.20   to 2.65   41.44   to 38.08  
    12/31/2022 21,824,681 28.39 to 17.07 224,156,846   -   0.20   to 2.65   (31.65)   to (33.28)  
    12/31/2021 24,329,498 41.54 to 25.58 356,189,502   -   0.20   to 2.65   20.13   to 17.26  
Vanguard® Balanced                                    
    12/31/2025 4,359,547 17.01 to 14.90 68,964,533   1.96   0.27   to 2.60   16.15   to 13.48  
    12/31/2024 3,346,843 14.65 to 13.13 46,092,630   2.21   0.27   to 2.60   14.49   to 11.84  
    12/31/2023 2,955,856 12.79 to 11.74 36,028,930   1.90   0.27   to 2.60   14.02   to 11.40  
    12/31/2022 2,042,105 11.22 to 10.54 22,168,437   1.74   0.27   to 2.60   (14.53)   to (16.50)  
    12/31/2021 1,267,393 13.13 to 12.62 16,289,938   1.02   0.27   to 2.60   18.69   to 15.96  
Vanguard® Capital Growth                                  
    12/31/2025 292,855 22.22 to 21.95 6,497,686   0.97   0.27   to 0.47   28.63   to 28.37  
    12/31/2024 242,843 17.27 to 17.10 4,188,217   1.07   0.27   to 0.47   13.10   to 12.88  
    12/31/2023 228,569 15.27 to 15.15 3,486,754   0.99   0.27   to 0.47   27.64   to 27.38  
    12/31/2022 197,024 11.97 to 11.89 2,355,791   0.79   0.27   to 0.47   (15.71)   to (15.88)  
    12/31/2021 117,412 14.20 to 14.14 1,665,830   0.50   0.27   to 0.47   21.21   to 20.97  
Vanguard® Conservative Allocation                                  
    12/31/2025 2,357,472 13.54 to 11.86 29,597,102   2.51   0.27   to 2.60   12.43   to 9.84  
    12/31/2024 1,408,623 12.05 to 10.80 16,071,368   2.51   0.27   to 2.60   7.20   to 4.72  
    12/31/2023 1,173,487 11.24 to 10.31 12,627,161   1.79   0.27   to 2.60   12.21   to 9.63  
    12/31/2022 975,225 10.01 to 9.40 9,474,948   2.02   0.27   to 2.60   (15.13)   to (17.08)  
    12/31/2021 665,743 11.80 to 11.34 7,733,391   0.96   0.27   to 2.60   5.70   to 3.27  
Vanguard® Diversified Value                                  
    12/31/2025 192,208 20.54 to 20.29 3,942,804   1.47   0.27   to 0.47   16.51   to 16.28  
    12/31/2024 175,782 17.63 to 17.45 3,095,580   1.52   0.27   to 0.47   14.58   to 14.35  
    12/31/2023 176,996 15.38 to 15.26 2,720,876   1.22   0.27   to 0.47   19.80   to 19.56  
    12/31/2022 132,810 12.84 to 12.76 1,704,817   1.01   0.27   to 0.47   (11.73)   to (11.90)  
    12/31/2021 96,561 14.55 to 14.49 1,404,212   0.37   0.27   to 0.47   30.11   to 29.85  
Vanguard® Equity Income                                  
    12/31/2025 284,729 18.40 to 18.18 5,238,286   2.38   0.27   to 0.47   16.48   to 16.25  
    12/31/2024 278,767 15.80 to 15.64 4,402,590   2.50   0.27   to 0.47   14.81   to 14.58  
    12/31/2023 205,204 13.76 to 13.65 2,822,945   2.61   0.27   to 0.47   7.81   to 7.59  
    12/31/2022 169,912 12.77 to 12.69 2,168,634   2.26   0.27   to 0.47   (0.93)   to (1.13)  
    12/31/2021 70,548 12.89 to 12.83 908,814   1.01   0.27   to 0.47   24.99   to 24.74  
89
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
Vanguard® Equity Index                                    
    12/31/2025 508,097 $50.37 to $27.73 $           23,138,126   1.05 % 0.27 % to 2.50 % 17.38 % to 14.83 %
    12/31/2024 571,296 42.91 to 24.15 19,766,714   1.29   0.27   to 2.50   24.50   to 21.78  
    12/31/2023 652,810 34.46 to 19.83 17,100,972   1.32   0.27   to 2.50   25.78   to 23.05  
    12/31/2022 632,828 27.40 to 16.11 12,705,695   1.08   0.27   to 2.50   (18.45)   to (20.22)  
    12/31/2021 829,466 33.60 to 20.20 9,934,344   0.97   0.27   to 2.50   28.20   to 25.42  
Vanguard® Global Bond Index                                  
    12/31/2025 161,946 10.28 to 10.16 1,661,726   2.92   0.27   to 0.47   5.41   to 5.20  
    12/31/2024 121,798 9.76 to 9.66 1,186,450   2.77   0.27   to 0.47   1.76   to 1.55  
    12/31/2023 110,531 9.59 to 9.51 1,058,304   1.86   0.27   to 0.47   6.23   to 6.02  
    12/31/2022 87,809 9.03 to 8.97 792,449   2.85   0.27   to 0.47   (13.36)   to (13.53)  
    12/31/2021 30,326 10.42 to 10.38 315,941   0.99   0.27   to 0.47   (2.11)   to (2.30)  
Vanguard® Growth                                    
    12/31/2025 710,544 24.17 to 23.88 17,158,532   0.21   0.27   to 0.47   16.57   to 16.34  
    12/31/2024 755,795 20.73 to 20.52 15,659,300   0.21   0.27   to 0.47   32.77   to 32.51  
    12/31/2023 315,507 15.61 to 15.49 4,920,201   0.23   0.27   to 0.47   39.76   to 39.48  
    12/31/2022 284,871 11.17 to 11.10 3,179,060   -   0.27   to 0.47   (33.54)   to (33.68)  
    12/31/2021 207,643 16.81 to 16.74 3,489,927   0.01   0.27   to 0.47   17.54   to 17.31  
Vanguard® High Yield Bond                                  
    12/31/2025 315,687 12.68 to 12.53 4,002,314   6.28   0.27   to 0.47   8.89   to 8.67  
    12/31/2024 312,758 11.64 to 11.53 3,641,513   4.36   0.27   to 0.47   6.16   to 5.95  
    12/31/2023 194,541 10.97 to 10.88 2,133,574   4.16   0.27   to 0.47   11.37   to 11.14  
    12/31/2022 124,966 9.85 to 9.79 1,230,611   4.77   0.27   to 0.47   (9.61)   to (9.79)  
    12/31/2021 50,792 10.90 to 10.85 553,263   1.14   0.27   to 0.47   3.40   to 3.19  
Vanguard® International                                  
    12/31/2025 462,077 27.90 to 20.58 10,749,282   0.82   0.27   to 2.70   19.64   to 16.82  
    12/31/2024 467,397 23.32 to 17.62 8,467,892   1.16   0.27   to 2.70   8.72   to 6.13  
    12/31/2023 510,420 21.45 to 16.60 7,666,543   1.47   0.27   to 2.70   14.35   to 11.65  
    12/31/2022 486,799 18.76 to 14.87 5,871,484   1.34   0.27   to 2.70   (30.31)   to (31.96)  
    12/31/2021 469,378 26.91 to 21.85 7,109,922   0.21   0.27   to 2.70   (1.81)   to (4.13)  
Vanguard® Mid-Cap Index                                  
    12/31/2025 1,719,004 34.90 to 19.30 54,359,071   1.15   0.27   to 2.70   11.24   to 8.61  
    12/31/2024 1,376,980 31.37 to 17.77 39,633,203   1.22   0.27   to 2.70   14.76   to 12.03  
    12/31/2023 960,505 27.34 to 15.86 24,221,625   1.26   0.27   to 2.70   15.52   to 12.79  
    12/31/2022 684,979 23.67 to 14.06 14,987,533   1.05   0.27   to 2.70   (19.04)   to (20.95)  
    12/31/2021 525,414 29.23 to 17.79 12,811,995   0.68   0.27   to 2.70   24.02   to 21.09  
Vanguard® Moderate Allocation                                  
    12/31/2025 2,706,005 15.38 to 13.47 39,266,773   2.25   0.27   to 2.60   15.87   to 13.21  
    12/31/2024 2,408,482 13.28 to 11.90 30,484,257   2.28   0.27   to 2.60   10.02   to 7.48  
    12/31/2023 2,219,257 12.07 to 11.07 25,875,445   1.89   0.27   to 2.60   15.24   to 12.59  
    12/31/2022 1,822,015 10.47 to 9.83 18,671,605   2.11   0.27   to 2.60   (16.15)   to (18.08)  
    12/31/2021 1,237,813 12.49 to 12.00 15,250,760   0.91   0.27   to 2.60   9.78   to 7.25  
Vanguard® Money Market                                  
    12/31/2025 1,050,423 11.56 to 11.43 12,138,572   4.09   0.27   to 0.47   3.90   to 3.70  
    12/31/2024 894,791 11.13 to 11.02 9,955,480   5.06   0.27   to 0.47   4.91   to 4.70  
    12/31/2023 750,806 10.61 to 10.52 7,964,434   4.96   0.27   to 0.47   4.77   to 4.56  
    12/31/2022 494,571 10.13 to 10.07 5,005,978   1.40   0.27   to 0.47   1.24   to 1.03  
    12/31/2021 460,735 10.00 to 9.96 4,608,533   0.01   0.27   to 0.47   (0.25)   to (0.45)  
Vanguard® Real Estate Index                                  
    12/31/2025 625,218 18.40 to 11.90 10,953,128   2.61   0.27   to 2.50   2.83   to 0.60  
    12/31/2024 594,780 17.90 to 11.83 10,208,557   2.65   0.27   to 2.50   4.46   to 2.17  
    12/31/2023 242,404 17.13 to 11.58 3,659,996   2.48   0.27   to 2.50   11.40   to 8.98  
    12/31/2022 252,079 15.38 to 10.63 3,401,801   1.77   0.27   to 2.50   (26.50)   to (28.09)  
    12/31/2021 179,084 20.92 to 14.78 2,851,570   1.61   0.27   to 2.50   39.83   to 36.79  
90
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
                                         
Vanguard® Short-Term Investment Grade                                
    12/31/2025 1,730,690 $12.82 to $10.10 $           19,912,893   3.97 % 0.27 % to 2.70 % 6.57 % to 4.04 %
    12/31/2024 1,457,595 12.03 to 9.71 15,913,653   3.50   0.27   to 2.70   4.61   to 2.12  
    12/31/2023 1,369,424 11.50 to 9.50 13,617,413   1.78   0.27   to 2.70   5.87   to 3.37  
    12/31/2022 938,005 10.86 to 9.19 8,419,841   1.68   0.27   to 2.70   (5.98)   to (8.20)  
    12/31/2021 861,637 11.55 to 10.02 7,632,207   1.80   0.27   to 2.70   (0.72)   to (3.07)  
Vanguard® Total Bond Market Index                                  
    12/31/2025 1,941,406 11.69 to 9.26 22,137,809   3.37   0.27   to 2.70   6.65   to 4.13  
    12/31/2024 1,682,459 10.96 to 8.90 17,630,542   2.59   0.27   to 2.70   0.97   to (1.43)  
    12/31/2023 1,324,563 10.85 to 9.03 13,658,790   2.43   0.27   to 2.70   5.29   to 2.81  
    12/31/2022 1,216,852 10.31 to 8.78 11,337,994   2.10   0.27   to 2.70   (13.45)   to (15.49)  
    12/31/2021 1,159,191 11.91 to 10.39 11,292,522   1.64   0.27   to 2.70   (1.98)   to (4.30)  
Vanguard® Total International Stock Market Index                                
    12/31/2025 709,977 16.09 to 15.89 11,407,411   2.64   0.27   to 0.47   31.69   to 31.42  
    12/31/2024 657,784 12.22 to 12.09 8,026,078   2.96   0.27   to 0.47   4.77   to 4.56  
    12/31/2023 551,380 11.66 to 11.57 6,422,574   2.78   0.27   to 0.47   15.23   to 15.00  
    12/31/2022 503,602 10.12 to 10.06 5,091,921   2.94   0.27   to 0.47   (16.24)   to (16.41)  
    12/31/2021 240,815 12.08 to 12.03 2,908,503   1.25   0.27   to 0.47   8.24   to 8.02  
Vanguard® Total Stock Market Index                                  
    12/31/2025 1,359,962 21.89 to 21.63 29,702,350   1.12   0.27   to 0.47   16.62   to 16.38  
    12/31/2024 1,254,270 18.77 to 18.59 23,495,552   1.25   0.27   to 0.47   23.38   to 23.13  
    12/31/2023 1,151,870 15.22 to 15.09 17,497,907   1.06   0.27   to 0.47   25.61   to 25.36  
    12/31/2022 829,114 12.11 to 12.04 10,036,777   1.30   0.27   to 0.47   (19.81)   to (19.97)  
    12/31/2021 647,860 15.11 to 15.04 9,784,565   0.39   0.27   to 0.47   25.30   to 25.05  
Voya Global Perspectives Class S Shares                                  
    12/31/2025 100 14.65 to 13.38 1,466   5.41   1.29   to 2.14   12.56   to 11.61  
    12/31/2024 104 13.01 to 11.99 1,349   3.53   1.29   to 2.14   5.50   to 4.60  
    12/31/2023 1,245 12.33 to 11.46 15,362   4.94   1.29   to 2.14   8.87   to 7.95  
    12/31/2022 2,207 11.33 to 10.62 25,002   3.07   1.29   to 2.14   (18.71)   to (19.40)  
    12/31/2021 2,380 13.94 to 13.17 33,169   3.35   1.29   to 2.14   4.48   to 3.60  
                                         
   (1) See Footnote 1                                  
                                         
  * These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets.  These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units.  The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest.  
                                         
  ** These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated.  These ratios include only those expenses that result in a direct reduction to unit values.  Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded.  
  *** These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values.  These ratios do not include any expenses assessed through the redemption of units.  Investment options with a date notation indicate the effective date of that investment option in the variable account.  The total return is calculated for each period indicated or from the effective date through the end of the reporting period.  Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return.  Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return.  
 
 
91
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
           
6.  Administrative and Mortality and Expense Risk Charges
           
TLIC deducts a daily administrative charge equal to an annual rate of 0.15% of the daily net assets value of each subaccount for administrative expenses.   TLIC also deducts an annual charge during the accumulation phase, not to exceed $50, proportionately from the subaccounts’ unit values.  An annual charge ranging from 0.05% to 2.65% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC's assumption of certain mortality and expense risks incurred in connection with the contract.  The charge is assessed daily based on the net asset value of the Mutual Fund.  Charges for administrative and mortality and expense risk are an expense of the subaccount.  Charges reflected above are those currently assessed and may be subject to change.  Contract owners should see their actual policy and any related attachments to determine their specific charges.
In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees that is based on their actual policy:
          Additional Fund
Subaccount       Facilitation Fee Assessed
AB Balanced Hedged Allocation Class B Shares 0.20%
AB Relative Value Class B Shares 0.20%
American Funds - Asset Allocation Class 2 Shares 0.30% - 0.40%
American Funds - Asset Allocation Class 4 Shares 0.20%
American Funds - Growth Class 2 Shares 0.30% - 0.40%
American Funds - Growth Class 4 Shares 0.13%
American Funds - Growth-Income Class 2 Shares 0.30% - 0.40%
American Funds - Growth-Income Class 4 Shares 0.13%
American Funds - International Class 2 Shares 0.30% - 0.40%
American Funds - International Class 4 Shares 0.13%
American Funds - New World Class 4 Shares 0.15%
American Funds - The Bond Fund of America Class 2 Shares 0.30% - 0.40%
American Funds - The Bond Fund of America Class 4 Shares 0.11%
Columbia - Acorn       0.30%
Columbia - Acorn International   0.30%
DFA VA Global Bond     0.60%
Fidelity® VIP Balanced Service Class 2 0.20%
Fidelity® VIP Consumer Staples Initial Class 0.50%
Fidelity® VIP Contrafund® Initial Class   0.20%
Fidelity® VIP Contrafund® Service Class 2 0.20%
Fidelity® VIP Energy Service Class 2   0.30%
Fidelity® VIP Equity-Income Initial Class 0.20%
Fidelity® VIP Growth Initial Class   0.20%
Fidelity® VIP Health Care Service Class 2 0.30%
Fidelity® VIP Mid Cap Initial Class   0.20%
Fidelity® VIP Mid Cap Service Class 2   0.20%
Fidelity® VIP Technology Initial Class   0.50%
Fidelity® VIP Utilities Initial Class   0.50%
Fidelity® VIP Value Strategies Initial Class 0.20%
Fidelity® VIP Value Strategies Service Class 2 0.20%
Franklin Allocation Class 4 Shares 0.15%
State Street Total Return V.I.S. Class 3 Shares 0.20%
TA MSCI EAFE Index Service Class 0.15%
TA S&P 500 Index Service Class 0.15%
Vanguard® Balanced   0.60%
Vanguard® Conservative Allocation 0.60%
Vanguard® Equity Index     0.20% - 0.60%

 

92
 
Transamerica Life Insurance Company
Separate Account VA B
Notes to Financial Statements
December 31, 2025
           
6.  Administrative and Mortality and Expense Risk Charges (continued)
           
In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees that is based on their actual policy (continued):
          Additional Fund
Subaccount       Facilitation Fee Assessed
Vanguard® International     0.20% - 0.60%
Vanguard® Mid-Cap Index     0.20% - 0.60%
Vanguard® Moderate Allocation   0.60%
Vanguard® Real Estate Index     0.20% - 0.60%
Vanguard® Short-Term Investment Grade 0.20% - 0.60%
Vanguard® Total Bond Market Index   0.20% - 0.60%
Voya Global Perspectives Class S Shares   0.14%
           
93
 
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                     
                     
7.  Income Tax
                     
Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code).   The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation.  The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC.  Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts.
8.  Subsequent Events
                     
The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued.  During this period, there were no subsequent events requiring recognition in the financial statements.
9.  Related Parties
                     
Transamerica Capital, Inc. (TCI), a wholesaling broker-dealer, is an affiliated entity of TLIC and an indirect wholly owned subsidiary of Aegon Ltd.  TCI distributes TLIC's products through broker-dealers and other financial intermediaries.
The subaccounts invest in the mutual funds listed in Footnote 1.  These investments include funds managed by Transamerica Asset Management, Inc. (TAM).  Transamerica Fund Services, Inc. (TFS) serves as a transfer agent to TAM, and Aegon USA Asset Management Holding, LLC (AAM) serves as a sub-advisor for certain funds managed by TAM.  TAM, TFS and AAM are affiliated entities of TLIC and indirect wholly owned subsidiaries of Aegon Ltd.  Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both.  The Separate Account pays management fees to the related funds as detailed in the fund prospectus.
No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties.
Contract owners may transfer funds between available subaccount options within the Separate Account.  These transfers are performed at unit value at the time of the transfer.
 
94
 
 
  Transamerica Life Insurance Company
  Separate Account VA B
  Notes to Financial Statements
  December 31, 2025
                   
                   
10.  Segment Reporting
                   
Each fund of the Separate Account constitutes a single operating segment and therefore, a single reportable segment because the Chief Operating Decision Maker (CODM) manages the activities of the Separate Account using information of each fund.  The Separate Account is engaged in a single line of business as a registered unit investment trust.  The Separate Account is a funding vehicle for individual variable annuity contracts with the assets owned by TLIC to support the liabilities of the applicable insurance contracts.  The subaccounts have identified the President and Chief Operating Officer as the CODM as the Separate Account does not have employees and is not a separate legal entity.
                   
The CODM uses increase (decrease) in net assets from operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the funds within the Separate Account.  The Accounting policies used to measure profit and loss of the segments are the same as those described in the Summary of Significant Accounting Policies (see note 2).  The measure of segment assets is reported on the balance sheet as total consolidated assets.  Refer to the Statements of Operations and Changes in Net Assets for each fund’s operating segment and related footnotes for significant expenses principle and the existing segment requirements as of December 31, 2025 and for the year ended December 31, 2025 and December 31, 2024.
                   
 
95
 
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