Separate Account Va DD

04/24/2026 | Press release | Distributed by Public on 04/24/2026 15:23

Financial Statements by Insurance Company (Form N-VPFS)

FINANCIAL STATEMENTS
Transamerica Life Insurance Company
Separate Account VA DD
Years Ended December 31, 2025 and 2024
Transamerica Life Insurance Company
Separate Account VA DD
Financial Statements
Years Ended December 31, 2025 and 2024
Report of Independent Registered Public Accounting Firm 3
Statement of Assets and Liabilities 4
Statements of Operations and Changes in Net Assets 5
Notes to Financial Statements 10
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 DD
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 DD (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
TA S&P 500 Index Initial Class (1)
Vanguard® International (1)
Vanguard® Balanced (1)
Vanguard® Mid-Cap Index (1)
Vanguard® Capital Growth (1)
Vanguard® Moderate Allocation (1)
Vanguard® Conservative Allocation (1)
Vanguard® Money Market (1)
Vanguard® Diversified Value (1)
Vanguard® Real Estate Index (1)
Vanguard® Equity Income (1)
Vanguard® Short-Term Investment Grade (1)
Vanguard® Equity Index (1)
Vanguard® Small Company Growth (1)
Vanguard® Global Bond Index (1)
Vanguard® Total Bond Market Index (1)
Vanguard® Growth (1)
Vanguard® Total International Stock Market Index (1)
Vanguard® High Yield Bond (1)
Vanguard® Total Stock Market Index (1)
(1) Statements of operations and changes in net assets for the years ended December 31, 2025 and 2024
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
3
Transamerica Life Insurance Company
Separate Account VA DD
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 Initial Class 8,651,099.777 $ 201,415,121 $ 245,604,723 $ (95) $ 245,604,628 14,274,266 $ 17.206113 $ 17.206113
Vanguard® Balanced 91,516,087.490 2,045,297,718 2,325,423,783 (50) 2,325,423,733 11,171,088 208.164476 208.164476
Vanguard® Capital Growth 18,743,512.803 740,223,479 1,158,723,961 10 1,158,723,971 7,428,048 155.993064 155.993064
Vanguard® Conservative Allocation 13,253,020.917 333,669,193 350,674,933 44 350,674,977 7,714,970 45.453834 45.453834
Vanguard® Diversified Value 33,928,932.061 457,671,905 592,738,443 9 592,738,452 7,156,140 82.829356 82.829356
Vanguard® Equity Income 38,389,310.608 870,416,744 1,006,567,724 79 1,006,567,803 4,920,802 204.553612 204.553612
Vanguard® Equity Index 31,771,816.841 1,382,957,616 2,604,018,108 (60) 2,604,018,048 8,488,959 306.753524 306.753524
Vanguard® Global Bond Index 7,237,821.201 145,063,142 136,288,173 (42) 136,288,131 6,122,397 22.260584 22.260584
Vanguard® Growth 28,866,208.800 795,215,128 1,058,812,539 3 1,058,812,542 6,020,710 175.861732 175.861732
Vanguard® High Yield Bond 37,046,731.109 274,271,360 279,702,820 (93) 279,702,727 5,771,525 48.462535 48.462535
Vanguard® International 36,022,441.056 940,235,620 1,029,881,590 (115) 1,029,881,475 10,656,466 96.643814 96.643814
Vanguard® Mid-Cap Index 30,139,586.589 661,409,986 842,702,841 2 842,702,843 6,739,358 125.042014 125.042014
Vanguard® Moderate Allocation 14,644,988.139 420,394,664 487,385,205 40 487,385,245 8,250,339 59.074574 59.074574
Vanguard® Money Market 1,085,898,047.634 1,085,898,048 1,085,898,048 (236) 1,085,897,812 473,753,221 2.292117 2.292117
Vanguard® Real Estate Index 30,524,644.937 370,357,819 353,170,142 12 353,170,154 4,062,993 86.923638 86.923638
Vanguard® Short-Term Investment Grade 69,917,936.442 734,335,446 746,024,382 (8) 746,024,374 31,441,315 23.727518 23.727518
Vanguard® Small Company Growth 38,818,090.049 730,478,160 740,260,977 69 740,261,046 4,824,618 153.434111 153.434111
Vanguard® Total Bond Market Index 106,717,812.953 1,240,048,595 1,152,552,380 (4) 1,152,552,376 26,666,076 43.221672 43.221672
Vanguard® Total International Stock Market Index 13,450,472.245 287,548,299 361,279,685 83 361,279,768 10,377,663 34.813209 34.813209
Vanguard® Total Stock Market Index 34,794,567.864 1,440,230,067 2,120,033,020 (4) 2,120,033,016 19,984,559 106.083552 106.083552
See accompanying notes.
4
Transamerica Life Insurance Company
Separate Account VA DD
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
TA S&P 500 Index Initial Class Vanguard® Balanced Vanguard® Capital Growth Vanguard® Conservative Allocation
Subaccount Subaccount Subaccount Subaccount
Net Assets as of December 31, 2023: $ 89,508,711 $ 2,118,426,247 $ 964,794,396 $ 341,192,849
Investment Income:
Reinvested Dividends 1,429,059 50,645,508 11,526,220 9,273,188
Investment Expense:
Mortality and Expense Risk and Administrative Charges 429,173 6,615,345 3,097,468 1,011,098
Net Investment Income (Loss) 999,886 44,030,163 8,428,752 8,262,090
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 2,867,467 109,536,542 21,068,240 7,860,023
Realized Gain (Loss) on Investments 4,224,206 40,792,235 60,962,406 (1,225,422)
Net Realized Capital Gains (Losses) on Investments 7,091,673 150,328,777 82,030,646 6,634,601
Net Change in Unrealized Appreciation (Depreciation) 20,308,207 99,897,459 34,284,118 8,145,658
Net Gain (Loss) on Investment 27,399,880 250,226,236 116,314,764 14,780,259
Net Increase (Decrease) in Net Assets Resulting from Operations 28,399,766 294,256,399 124,743,516 23,042,349
Increase (Decrease) in Net Assets from Contract Transactions 67,836,128 (180,640,175) (99,084,836) (34,415,037)
Total Increase (Decrease) in Net Assets 96,235,894 113,616,224 25,658,680 (11,372,688)
Net Assets as of December 31, 2024: $ 185,744,605 $ 2,232,042,471 $ 990,453,076 $ 329,820,161
Investment Income:
Reinvested Dividends 1,987,630 47,620,063 10,598,741 8,773,791
Investment Expense:
Mortality and Expense Risk and Administrative Charges 639,053 6,682,159 3,070,687 1,010,412
Net Investment Income (Loss) 1,348,577 40,937,904 7,528,054 7,763,379
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 1,119,264 203,970,747 45,540,556 10,277,864
Realized Gain (Loss) on Investments 16,534,188 13,947,524 64,222,300 1,065,403
Net Realized Capital Gains (Losses) on Investments 17,653,452 217,918,271 109,762,856 11,343,267
Net Change in Unrealized Appreciation (Depreciation) 17,875,222 75,544,841 147,845,127 20,328,682
Net Gain (Loss) on Investment 35,528,674 293,463,112 257,607,983 31,671,949
Net Increase (Decrease) in Net Assets Resulting from Operations 36,877,251 334,401,016 265,136,037 39,435,328
Increase (Decrease) in Net Assets from Contract Transactions 22,982,772 (241,019,754) (96,865,142) (18,580,512)
Total Increase (Decrease) in Net Assets 59,860,023 93,381,262 168,270,895 20,854,816
Net Assets as of December 31, 2025: $ 245,604,628 $ 2,325,423,733 $ 1,158,723,971 $ 350,674,977
See Accompanying Notes.
(1)See Footnote 1
5
Transamerica Life Insurance Company
Separate Account VA DD
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
Vanguard® Diversified Value Vanguard® Equity Income Vanguard® Equity Index Vanguard® Global Bond Index
Subaccount Subaccount Subaccount Subaccount
Net Assets as of December 31, 2023: $ 537,861,667 $ 903,691,090 $ 2,109,715,060 $ 140,246,849
Investment Income:
Reinvested Dividends 8,931,983 27,198,942 29,926,787 3,887,432
Investment Expense:
Mortality and Expense Risk and Administrative Charges 1,690,472 2,815,199 6,946,879 412,214
Net Investment Income (Loss) 7,241,511 24,383,743 22,979,908 3,475,218
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 32,284,382 57,336,902 85,558,768 144,691
Realized Gain (Loss) on Investments 1,079,311 15,667,017 150,772,133 (1,314,937)
Net Realized Capital Gains (Losses) on Investments 33,363,693 73,003,919 236,330,901 (1,170,246)
Net Change in Unrealized Appreciation (Depreciation) 34,545,201 30,187,683 237,159,098 (37,165)
Net Gain (Loss) on Investment 67,908,894 103,191,602 473,489,999 (1,207,411)
Net Increase (Decrease) in Net Assets Resulting from Operations 75,150,405 127,575,345 496,469,907 2,267,807
Increase (Decrease) in Net Assets from Contract Transactions (51,150,283) (92,235,384) (195,386,069) (4,510,891)
Total Increase (Decrease) in Net Assets 24,000,122 35,339,961 301,083,838 (2,243,084)
Net Assets as of December 31, 2024: $ 561,861,789 $ 939,031,051 $ 2,410,798,898 $ 138,003,765
Investment Income:
Reinvested Dividends 8,784,741 24,038,786 26,660,796 4,111,692
Investment Expense:
Mortality and Expense Risk and Administrative Charges 1,683,289 2,885,085 7,337,127 405,095
Net Investment Income (Loss) 7,101,452 21,153,701 19,323,669 3,706,597
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 45,935,662 73,072,709 51,370,602 250,653
Realized Gain (Loss) on Investments 2,343,743 18,422,193 164,229,727 (2,325,999)
Net Realized Capital Gains (Losses) on Investments 48,279,405 91,494,902 215,600,329 (2,075,346)
Net Change in Unrealized Appreciation (Depreciation) 31,251,679 34,650,541 161,622,802 5,401,470
Net Gain (Loss) on Investment 79,531,084 126,145,443 377,223,131 3,326,124
Net Increase (Decrease) in Net Assets Resulting from Operations 86,632,536 147,299,144 396,546,800 7,032,721
Increase (Decrease) in Net Assets from Contract Transactions (55,755,873) (79,762,392) (203,327,650) (8,748,355)
Total Increase (Decrease) in Net Assets 30,876,663 67,536,752 193,219,150 (1,715,634)
Net Assets as of December 31, 2025: $ 592,738,452 $ 1,006,567,803 $ 2,604,018,048 $ 136,288,131
See Accompanying Notes.
(1)See Footnote 1
6
Transamerica Life Insurance Company
Separate Account VA DD
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
Vanguard® Growth Vanguard® High Yield Bond Vanguard® International Vanguard® Mid-Cap Index
Subaccount Subaccount Subaccount Subaccount
Net Assets as of December 31, 2023: $ 769,347,857 $ 277,110,296 $ 948,546,954 $ 805,700,455
Investment Income:
Reinvested Dividends 2,497,198 15,352,318 11,775,092 11,668,172
Investment Expense:
Mortality and Expense Risk and Administrative Charges 2,720,456 822,830 2,915,006 2,497,996
Net Investment Income (Loss) (223,258) 14,529,488 8,860,086 9,170,176
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions - - 31,170,350 9,724,407
Realized Gain (Loss) on Investments 23,120,126 (1,749,031) 23,864,236 28,036,596
Net Realized Capital Gains (Losses) on Investments 23,120,126 (1,749,031) 55,034,586 37,761,003
Net Change in Unrealized Appreciation (Depreciation) 225,385,221 3,363,497 17,286,223 65,868,676
Net Gain (Loss) on Investment 248,505,347 1,614,466 72,320,809 103,629,679
Net Increase (Decrease) in Net Assets Resulting from Operations 248,282,089 16,143,954 81,180,895 112,799,855
Increase (Decrease) in Net Assets from Contract Transactions (31,769,713) (20,383,080) (103,378,142) (84,003,774)
Total Increase (Decrease) in Net Assets 216,512,376 (4,239,126) (22,197,247) 28,796,081
Net Assets as of December 31, 2024: $ 985,860,233 $ 272,871,170 $ 926,349,707 $ 834,496,536
Investment Income:
Reinvested Dividends 2,052,527 17,932,999 8,361,341 10,510,380
Investment Expense:
Mortality and Expense Risk and Administrative Charges 2,978,278 827,162 2,999,348 2,508,010
Net Investment Income (Loss) (925,751) 17,105,837 5,361,993 8,002,370
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 55,549,396 - 56,353,587 41,872,047
Realized Gain (Loss) on Investments 56,616,398 (2,618,927) 19,644,362 17,052,331
Net Realized Capital Gains (Losses) on Investments 112,165,794 (2,618,927) 75,997,949 58,924,378
Net Change in Unrealized Appreciation (Depreciation) 40,844,098 8,867,808 95,407,820 22,068,175
Net Gain (Loss) on Investment 153,009,892 6,248,881 171,405,769 80,992,553
Net Increase (Decrease) in Net Assets Resulting from Operations 152,084,141 23,354,718 176,767,762 88,994,923
Increase (Decrease) in Net Assets from Contract Transactions (79,131,832) (16,523,161) (73,235,994) (80,788,616)
Total Increase (Decrease) in Net Assets 72,952,309 6,831,557 103,531,768 8,206,307
Net Assets as of December 31, 2025: $ 1,058,812,542 $ 279,702,727 $ 1,029,881,475 $ 842,702,843
See Accompanying Notes.
(1)See Footnote 1
7
Transamerica Life Insurance Company
Separate Account VA DD
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
Vanguard® Moderate Allocation Vanguard® Money Market Vanguard® Real Estate Index Vanguard® Short-Term Investment Grade
Subaccount Subaccount Subaccount Subaccount
Net Assets as of December 31, 2023: $ 448,777,759 $ 1,066,245,721 $ 420,365,696 $ 759,346,575
Investment Income:
Reinvested Dividends 10,714,593 54,538,681 12,732,699 27,036,624
Investment Expense:
Mortality and Expense Risk and Administrative Charges 1,375,275 3,248,232 1,205,595 2,239,931
Net Investment Income (Loss) 9,339,318 51,290,449 11,527,104 24,796,693
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 8,712,139 - 10,741,452 -
Realized Gain (Loss) on Investments 4,522,461 - (7,438,050) (2,499,471)
Net Realized Capital Gains (Losses) on Investments 13,234,600 - 3,303,402 (2,499,471)
Net Change in Unrealized Appreciation (Depreciation) 20,420,193 - 2,587,834 10,792,735
Net Gain (Loss) on Investment 33,654,793 - 5,891,236 8,293,264
Net Increase (Decrease) in Net Assets Resulting from Operations 42,994,111 51,290,449 17,418,340 33,089,957
Increase (Decrease) in Net Assets from Contract Transactions (28,572,851) (53,125,910) (53,804,023) (56,462,630)
Total Increase (Decrease) in Net Assets 14,421,260 (1,835,461) (36,385,683) (23,372,673)
Net Assets as of December 31, 2024: $ 463,199,019 $ 1,064,410,260 $ 383,980,013 $ 735,973,902
Investment Income:
Reinvested Dividends 11,418,043 44,789,718 10,274,705 30,822,017
Investment Expense:
Mortality and Expense Risk and Administrative Charges 1,404,716 3,270,831 1,114,727 2,224,034
Net Investment Income (Loss) 10,013,327 41,518,887 9,159,978 28,597,983
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 19,181,297 - 6,578,939 -
Realized Gain (Loss) on Investments 4,874,104 - (6,632,351) (1,262,992)
Net Realized Capital Gains (Losses) on Investments 24,055,401 - (53,412) (1,262,992)
Net Change in Unrealized Appreciation (Depreciation) 34,929,912 - 1,469,957 19,534,216
Net Gain (Loss) on Investment 58,985,313 - 1,416,545 18,271,224
Net Increase (Decrease) in Net Assets Resulting from Operations 68,998,640 41,518,887 10,576,523 46,869,207
Increase (Decrease) in Net Assets from Contract Transactions (44,812,414) (20,031,335) (41,386,382) (36,818,735)
Total Increase (Decrease) in Net Assets 24,186,226 21,487,552 (30,809,859) 10,050,472
Net Assets as of December 31, 2025: $ 487,385,245 $ 1,085,897,812 $ 353,170,154 $ 746,024,374
See Accompanying Notes.
(1)See Footnote 1
8
Transamerica Life Insurance Company
Separate Account VA DD
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
Vanguard® Small Company Growth Vanguard® Total Bond Market Index Vanguard® Total International Stock Market Index Vanguard® Total Stock Market Index
Subaccount Subaccount Subaccount Subaccount
Net Assets as of December 31, 2023: $ 782,590,850 $ 1,196,819,844 $ 252,785,349 $ 1,742,802,008
Investment Income:
Reinvested Dividends 4,282,554 32,778,013 7,737,286 23,846,414
Investment Expense:
Mortality and Expense Risk and Administrative Charges 2,365,209 3,515,576 780,303 5,784,181
Net Investment Income (Loss) 1,917,345 29,262,437 6,956,983 18,062,233
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions - - 1,313,263 130,735,147
Realized Gain (Loss) on Investments (2,460,555) (12,814,527) 4,544,592 75,581,365
Net Realized Capital Gains (Losses) on Investments (2,460,555) (12,814,527) 5,857,855 206,316,512
Net Change in Unrealized Appreciation (Depreciation) 81,927,151 (6,116,411) (662,986) 172,944,009
Net Gain (Loss) on Investment 79,466,596 (18,930,938) 5,194,869 379,260,521
Net Increase (Decrease) in Net Assets Resulting from Operations 81,383,941 10,331,499 12,151,852 397,322,754
Increase (Decrease) in Net Assets from Contract Transactions (81,424,727) (74,327,196) (16,969,063) (131,568,669)
Total Increase (Decrease) in Net Assets (40,786) (63,995,697) (4,817,211) 265,754,085
Net Assets as of December 31, 2024: $ 782,550,064 $ 1,132,824,147 $ 247,968,138 $ 2,008,556,093
Investment Income:
Reinvested Dividends 3,564,660 39,586,276 7,966,029 23,496,742
Investment Expense:
Mortality and Expense Risk and Administrative Charges 2,199,642 3,423,279 908,635 6,032,618
Net Investment Income (Loss) 1,365,018 36,162,997 7,057,394 17,464,124
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions 50,675,450 - 4,856,176 109,688,316
Realized Gain (Loss) on Investments (19,182,805) (9,373,722) 5,295,478 93,812,713
Net Realized Capital Gains (Losses) on Investments 31,492,645 (9,373,722) 10,151,654 203,501,029
Net Change in Unrealized Appreciation (Depreciation) 7,102,820 46,191,510 64,884,459 90,864,973
Net Gain (Loss) on Investment 38,595,465 36,817,788 75,036,113 294,366,002
Net Increase (Decrease) in Net Assets Resulting from Operations 39,960,483 72,980,785 82,093,507 311,830,126
Increase (Decrease) in Net Assets from Contract Transactions (82,249,501) (53,252,556) 31,218,123 (200,353,203)
Total Increase (Decrease) in Net Assets (42,289,018) 19,728,229 113,311,630 111,476,923
Net Assets as of December 31, 2025: $ 740,261,046 $ 1,152,552,376 $ 361,279,768 $ 2,120,033,016
See Accompanying Notes.
(1)See Footnote 1
9
Transamerica Life Insurance Company
Separate Account VA DD
Notes to Financial Statements
December 31, 2025
1. Organization
Separate Account VA DD (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 Value Variable Annuity.
Subaccount Investment by Mutual Fund:
Subaccount Mutual Fund
Transamerica Series Trust Transamerica Series Trust
TA S&P 500 Index Initial Class Transamerica S&P 500 Index VP Initial 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® Small Company Growth Vanguard® Small Company Growth 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
Each period reported on reflects a full twelve month period except as follows:
Subaccount Inception Date
TA S&P 500 Index Initial Class May 2, 2022
10
Transamerica Life Insurance Company
Separate Account VA DD
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.
11
Transamerica Life Insurance Company
Separate Account VA DD
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
TA S&P 500 Index Initial Class $ 90,483,723 $ 65,033,022
Vanguard® Balanced 259,165,322 255,276,374
Vanguard® Capital Growth 80,493,668 124,290,210
Vanguard® Conservative Allocation 40,638,190 41,177,476
Vanguard® Diversified Value 62,192,697 64,911,456
Vanguard® Equity Income 106,962,660 92,498,704
Vanguard® Equity Index 109,695,380 242,328,609
Vanguard® Global Bond Index 19,637,877 24,428,945
Vanguard® Growth 184,193,330 208,701,518
Vanguard® High Yield Bond 34,973,970 34,391,220
Vanguard® International 79,886,181 91,406,479
Vanguard® Mid-Cap Index 58,018,134 88,932,339
Vanguard® Moderate Allocation 40,744,858 56,362,696
Vanguard® Money Market 330,508,646 309,020,987
Vanguard® Real Estate Index 23,071,279 48,718,764
Vanguard® Short-Term Investment Grade 81,396,832 89,617,526
Vanguard® Small Company Growth 58,627,742 88,836,847
Vanguard® Total Bond Market Index 71,242,890 88,332,474
Vanguard® Total International Stock Market Index 72,431,589 29,299,972
Vanguard® Total Stock Market Index 152,871,467 226,072,226
12
Transamerica Life Insurance Company
Separate Account VA DD
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)
TA S&P 500 Index Initial Class 5,872,600 (4,260,448) 1,612,152 6,505,305 (1,436,677) 5,068,628
Vanguard® Balanced 40,029 (1,319,349) (1,279,320) 103,929 (1,178,424) (1,074,495)
Vanguard® Capital Growth 181,124 (917,839) (736,715) 264,910 (1,092,825) (827,915)
Vanguard® Conservative Allocation 508,931 (949,337) (440,406) 460,038 (1,345,885) (885,847)
Vanguard® Diversified Value 101,960 (846,914) (744,954) 125,504 (887,846) (762,342)
Vanguard® Equity Income 54,402 (479,316) (424,914) 62,355 (621,217) (558,862)
Vanguard® Equity Index 119,292 (852,842) (733,550) 146,662 (969,334) (822,672)
Vanguard® Global Bond Index 709,519 (1,119,859) (410,340) 603,052 (823,815) (220,763)
Vanguard® Growth 823,891 (1,336,039) (512,148) 785,201 (1,019,289) (234,088)
Vanguard® High Yield Bond 373,158 (730,881) (357,723) 281,421 (758,047) (476,626)
Vanguard® International 174,848 (983,115) (808,267) 94,820 (1,388,877) (1,294,057)
Vanguard® Mid-Cap Index 50,293 (732,562) (682,269) 70,070 (869,346) (799,276)
Vanguard® Moderate Allocation 193,479 (1,025,874) (832,395) 363,688 (960,083) (596,395)
Vanguard® Money Market 127,942,313 (136,547,541) (8,605,228) 92,317,337 (116,717,625) (24,400,288)
Vanguard® Real Estate Index 73,872 (552,073) (478,201) 85,498 (735,930) (650,432)
Vanguard® Short-Term Investment Grade 2,246,032 (3,849,042) (1,603,010) 1,101,882 (3,711,702) (2,609,820)
Vanguard® Small Company Growth 31,387 (602,334) (570,947) 126,101 (722,326) (596,225)
Vanguard® Total Bond Market Index 775,249 (2,053,246) (1,277,997) 928,703 (2,784,196) (1,855,493)
Vanguard® Total International Stock Market Index 1,956,397 (955,798) 1,000,599 687,346 (1,322,562) (635,216)
Vanguard® Total Stock Market Index 217,382 (2,306,363) (2,088,981) 471,249 (2,021,043) (1,549,794)
13
Transamerica Life Insurance Company
Separate Account VA DD
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 S&P 500 Index Initial Class $ 87,741,347 $ (64,758,575) $ 22,982,772 $ 87,154,727 $ (19,318,599) $ 67,836,128
Vanguard® Balanced 8,021,249 (249,041,003) (241,019,754) 17,906,188 (198,546,363) (180,640,175)
Vanguard® Capital Growth 24,847,752 (121,712,894) (96,865,142) 29,781,986 (128,866,822) (99,084,836)
Vanguard® Conservative Allocation 21,934,702 (40,515,214) (18,580,512) 18,166,273 (52,581,310) (34,415,037)
Vanguard® Diversified Value 7,765,520 (63,521,393) (55,755,873) 8,532,082 (59,682,365) (51,150,283)
Vanguard® Equity Income 10,323,175 (90,085,567) (79,762,392) 10,467,939 (102,703,323) (92,235,384)
Vanguard® Equity Index 32,832,787 (236,160,437) (203,327,650) 34,641,750 (230,027,819) (195,386,069)
Vanguard® Global Bond Index 15,466,972 (24,215,327) (8,748,355) 12,613,213 (17,124,104) (4,510,891)
Vanguard® Growth 127,743,012 (206,874,844) (79,131,832) 102,426,841 (134,196,554) (31,769,713)
Vanguard® High Yield Bond 17,320,629 (33,843,790) (16,523,161) 12,193,987 (32,577,067) (20,383,080)
Vanguard® International 15,833,707 (89,069,701) (73,235,994) 7,377,119 (110,755,261) (103,378,142)
Vanguard® Mid-Cap Index 5,996,096 (86,784,712) (80,788,616) 7,591,882 (91,595,656) (84,003,774)
Vanguard® Moderate Allocation 10,490,388 (55,302,802) (44,812,414) 18,200,154 (46,773,005) (28,572,851)
Vanguard® Money Market 287,120,041 (307,151,376) (20,031,335) 198,277,949 (251,403,859) (53,125,910)
Vanguard® Real Estate Index 6,417,434 (47,803,816) (41,386,382) 7,110,909 (60,914,932) (53,804,023)
Vanguard® Short-Term Investment Grade 51,404,558 (88,223,293) (36,818,735) 24,198,362 (80,660,992) (56,462,630)
Vanguard® Small Company Growth 4,584,557 (86,834,058) (82,249,501) 18,109,722 (99,534,449) (81,424,727)
Vanguard® Total Bond Market Index 32,771,645 (86,024,201) (53,252,556) 37,686,552 (112,013,748) (74,327,196)
Vanguard® Total International Stock Market Index 60,190,195 (28,972,072) 31,218,123 18,062,700 (35,031,763) (16,969,063)
Vanguard® Total Stock Market Index 20,542,561 (220,895,764) (200,353,203) 39,075,732 (170,644,401) (131,568,669)
14
Transamerica Life Insurance Company
Separate Account VA DD
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
TA S&P 500 Index Initial Class
12/31/2025 14,274,266 $17.21 to $17.21 $ 245,604,628 0.93 % 0.300 % to 0.300 % 17.29 % to 17.29 %
12/31/2024 12,662,114 14.67 to 14.67 185,744,605 1.00 0.300 to 0.300 24.45 to 24.45
12/31/2023 7,593,486 11.79 to 11.79 89,508,711 1.37 0.300 to 0.300 25.71 to 25.71
12/31/2022(1) 2,650,595 9.38 to 9.38 24,853,460 1.19 0.300 to 0.300 - to -
Vanguard® Balanced
12/31/2025 11,171,088 208.16 to 208.16 2,325,423,733 2.14 0.300 to 0.300 16.11 to 16.11
12/31/2024 12,450,408 179.27 to 179.27 2,232,042,471 2.31 0.300 to 0.300 14.46 to 14.46
12/31/2023 13,524,903 156.63 to 156.63 2,118,426,247 2.08 0.300 to 0.300 13.98 to 13.98
12/31/2022 14,763,326 137.41 to 137.41 2,028,697,070 1.96 0.300 to 0.300 (14.56) to (14.56)
12/31/2021 16,187,356 160.83 to 160.83 2,603,367,176 1.81 0.270 to 0.270 18.70 to 18.70
Vanguard® Capital Growth
12/31/2025 7,428,048 155.99 to 155.99 1,158,723,971 1.03 0.300 to 0.300 28.59 to 28.59
12/31/2024 8,164,763 121.31 to 121.31 990,453,076 1.12 0.300 to 0.300 13.07 to 13.07
12/31/2023 8,992,678 107.29 to 107.29 964,794,396 1.04 0.300 to 0.300 27.60 to 27.60
12/31/2022 9,287,609 84.08 to 84.08 780,906,894 0.89 0.300 to 0.300 (15.74) to (15.74)
12/31/2021 9,959,153 99.78 to 99.78 993,758,270 0.98 0.270 to 0.270 21.21 to 21.21
Vanguard® Conservative Allocation
12/31/2025 7,714,970 45.45 to 45.45 350,674,977 2.60 0.300 to 0.300 12.39 to 12.39
12/31/2024 8,155,376 40.44 to 40.44 329,820,161 2.77 0.300 to 0.300 7.17 to 7.17
12/31/2023 9,041,223 37.74 to 37.74 341,192,849 1.99 0.300 to 0.300 12.17 to 12.17
12/31/2022 9,998,582 33.64 to 33.64 336,374,170 2.58 0.300 to 0.300 (15.15) to (15.15)
12/31/2021 11,074,153 39.65 to 39.65 439,078,966 1.53 0.270 to 0.270 5.70 to 5.70
Vanguard® Diversified Value
12/31/2025 7,156,140 82.83 to 82.83 592,738,452 1.56 0.300 to 0.300 16.48 to 16.48
12/31/2024 7,901,094 71.11 to 71.11 561,861,789 1.60 0.300 to 0.300 14.54 to 14.54
12/31/2023 8,663,436 62.08 to 62.08 537,861,667 1.44 0.300 to 0.300 19.77 to 19.77
12/31/2022 9,682,035 51.84 to 51.84 501,891,522 1.16 0.300 to 0.300 (11.75) to (11.75)
12/31/2021 10,106,177 58.74 to 58.74 593,646,368 1.06 0.270 to 0.270 30.11 to 30.11
Vanguard® Equity Income
12/31/2025 4,920,802 204.55 to 204.55 1,006,567,803 2.50 0.300 to 0.300 16.45 to 16.45
12/31/2024 5,345,716 175.66 to 175.66 939,031,051 2.92 0.300 to 0.300 14.77 to 14.77
12/31/2023 5,904,578 153.05 to 153.05 903,691,090 2.77 0.300 to 0.300 7.78 to 7.78
12/31/2022 6,745,103 142.01 to 142.01 957,855,331 2.55 0.300 to 0.300 (0.96) to (0.96)
12/31/2021 6,623,140 143.38 to 143.38 949,630,973 1.95 0.270 to 0.270 24.99 to 24.99
Vanguard® Equity Index
12/31/2025 8,488,959 306.75 to 306.75 2,604,018,048 1.09 0.300 to 0.300 17.35 to 17.35
12/31/2024 9,222,509 261.40 to 261.40 2,410,798,898 1.30 0.300 to 0.300 24.46 to 24.46
12/31/2023 10,045,181 210.02 to 210.02 2,109,715,060 1.41 0.300 to 0.300 25.74 to 25.74
12/31/2022 10,546,053 167.03 to 167.03 1,761,523,106 1.35 0.300 to 0.300 (18.47) to (18.47)
12/31/2021 11,161,255 204.88 to 204.88 2,286,707,536 1.25 0.270 to 0.270 28.20 to 28.20
Vanguard® Global Bond Index
12/31/2025 6,122,397 22.26 to 22.26 136,288,131 3.04 0.300 to 0.300 5.38 to 5.38
12/31/2024 6,532,737 21.12 to 21.12 138,003,765 2.85 0.300 to 0.300 1.73 to 1.73
12/31/2023 6,753,500 20.77 to 20.77 140,246,849 1.96 0.300 to 0.300 6.20 to 6.20
12/31/2022 7,123,504 19.55 to 19.55 139,294,505 2.83 0.300 to 0.300 (13.39) to (13.39)
12/31/2021 7,929,737 22.58 to 22.58 179,025,439 1.82 0.270 to 0.270 (2.10) to (2.10)
15
Transamerica Life Insurance Company
Separate Account VA DD
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® Growth
12/31/2025 6,020,710 $175.86 to $175.86 $ 1,058,812,542 0.21 % 0.300 % to 0.300 % 16.54 % to 16.54 %
12/31/2024 6,532,858 150.91 to 150.91 985,860,233 0.28 0.300 to 0.300 32.73 to 32.73
12/31/2023 6,766,946 113.69 to 113.69 769,347,857 0.23 0.300 to 0.300 39.72 to 39.72
12/31/2022 6,750,682 81.37 to 81.37 549,322,933 - 0.300 to 0.300 (33.56) to (33.56)
12/31/2021 7,471,225 122.48 to 122.48 915,102,076 0.03 0.270 to 0.270 17.54 to 17.54
Vanguard® High Yield Bond
12/31/2025 5,771,525 48.46 to 48.46 279,702,727 6.50 0.300 to 0.300 8.86 to 8.86
12/31/2024 6,129,248 44.52 to 44.52 272,871,170 5.64 0.300 to 0.300 6.13 to 6.13
12/31/2023 6,605,874 41.95 to 41.95 277,110,296 5.01 0.300 to 0.300 11.33 to 11.33
12/31/2022 7,070,691 37.68 to 37.68 266,416,005 5.16 0.300 to 0.300 (9.63) to (9.63)
12/31/2021 7,743,095 41.70 to 41.70 322,852,086 4.30 0.270 to 0.270 3.40 to 3.40
Vanguard® International
12/31/2025 10,656,466 96.64 to 96.64 1,029,881,475 0.83 0.300 to 0.300 19.61 to 19.61
12/31/2024 11,464,733 80.80 to 80.80 926,349,707 1.22 0.300 to 0.300 8.68 to 8.68
12/31/2023 12,758,790 74.34 to 74.34 948,546,954 1.55 0.300 to 0.300 14.31 to 14.31
12/31/2022 13,947,244 65.04 to 65.04 907,085,912 1.36 0.300 to 0.300 (30.33) to (30.33)
12/31/2021 15,152,194 93.35 to 93.35 1,414,444,717 0.28 0.270 to 0.270 (1.81) to (1.81)
Vanguard® Mid-Cap Index
12/31/2025 6,739,358 125.04 to 125.04 842,702,843 1.26 0.300 to 0.300 11.21 to 11.21
12/31/2024 7,421,627 112.44 to 112.44 834,496,536 1.41 0.300 to 0.300 14.73 to 14.73
12/31/2023 8,220,903 98.01 to 98.01 805,700,455 1.45 0.300 to 0.300 15.48 to 15.48
12/31/2022 9,074,825 84.87 to 84.87 770,137,496 1.14 0.300 to 0.300 (19.06) to (19.06)
12/31/2021 9,787,418 104.85 to 104.85 1,026,242,339 1.11 0.270 to 0.270 24.02 to 24.02
Vanguard® Moderate Allocation
12/31/2025 8,250,339 59.07 to 59.07 487,385,245 2.43 0.300 to 0.300 15.84 to 15.84
12/31/2024 9,082,734 51.00 to 51.00 463,199,019 2.35 0.300 to 0.300 9.99 to 9.99
12/31/2023 9,679,129 46.37 to 46.37 448,777,759 2.06 0.300 to 0.300 15.20 to 15.20
12/31/2022 10,264,312 40.25 to 40.25 413,101,449 2.46 0.300 to 0.300 (16.18) to (16.18)
12/31/2021 11,097,571 48.01 to 48.01 532,845,000 1.45 0.270 to 0.270 9.78 to 9.78
Vanguard® Money Market
12/31/2025 473,753,221 2.29 to 2.29 1,085,897,812 4.10 0.300 to 0.300 3.87 to 3.87
12/31/2024 482,358,449 2.21 to 2.21 1,064,410,260 5.07 0.300 to 0.300 4.88 to 4.88
12/31/2023 506,758,737 2.10 to 2.10 1,066,245,721 4.94 0.300 to 0.300 4.74 to 4.74
12/31/2022 538,311,600 2.01 to 2.01 1,081,368,955 1.55 0.300 to 0.300 1.21 to 1.21
12/31/2021 488,445,432 1.98 to 1.98 969,500,196 0.01 0.270 to 0.270 (0.25) to (0.25)
Vanguard® Real Estate Index
12/31/2025 4,062,993 86.92 to 86.92 353,170,154 2.76 0.300 to 0.300 2.80 to 2.80
12/31/2024 4,541,194 84.55 to 84.55 383,980,013 3.19 0.300 to 0.300 4.43 to 4.43
12/31/2023 5,191,626 80.97 to 80.97 420,365,696 2.52 0.300 to 0.300 11.36 to 11.36
12/31/2022 5,742,222 72.71 to 72.71 417,499,356 1.94 0.300 to 0.300 (26.52) to (26.52)
12/31/2021 6,237,254 98.94 to 98.94 617,133,252 1.99 0.270 to 0.270 39.83 to 39.83
Vanguard® Short-Term Investment Grade
12/31/2025 31,441,315 23.73 to 23.73 746,024,374 4.15 0.300 to 0.300 6.53 to 6.53
12/31/2024 33,044,325 22.27 to 22.27 735,973,902 3.65 0.300 to 0.300 4.58 to 4.58
12/31/2023 35,654,145 21.30 to 21.30 759,346,575 2.16 0.300 to 0.300 5.84 to 5.84
12/31/2022 40,036,422 20.12 to 20.12 805,622,697 1.67 0.300 to 0.300 (6.00) to (6.00)
12/31/2021 44,834,576 21.41 to 21.41 959,791,122 2.13 0.270 to 0.270 (0.72) to (0.72)
16
Transamerica Life Insurance Company
Separate Account VA DD
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® Small Company Growth
12/31/2025 4,824,618 $153.43 to $153.43 $ 740,261,046 0.49 % 0.300 % to 0.300 % 5.79 % to 5.79 %
12/31/2024 5,395,565 145.04 to 145.04 782,550,064 0.55 0.300 to 0.300 11.04 to 11.04
12/31/2023 5,991,790 130.61 to 130.61 782,590,850 0.41 0.300 to 0.300 19.29 to 19.29
12/31/2022 6,313,466 109.49 to 109.49 691,266,055 0.27 0.300 to 0.300 (25.57) to (25.57)
12/31/2021 6,843,985 147.12 to 147.12 1,006,853,915 0.38 0.270 to 0.270 13.91 to 13.91
Vanguard® Total Bond Market Index
12/31/2025 26,666,076 43.22 to 43.22 1,152,552,376 3.46 0.300 to 0.300 6.62 to 6.62
12/31/2024 27,944,073 40.54 to 40.54 1,132,824,147 2.82 0.300 to 0.300 0.94 to 0.94
12/31/2023 29,799,566 40.16 to 40.16 1,196,819,844 2.50 0.300 to 0.300 5.26 to 5.26
12/31/2022 31,512,611 38.15 to 38.15 1,202,347,994 2.09 0.300 to 0.300 (13.47) to (13.47)
12/31/2021 34,378,088 44.10 to 44.10 1,515,906,275 2.12 0.270 to 0.270 (1.98) to (1.98)
Vanguard® Total International Stock Market Index
12/31/2025 10,377,663 34.81 to 34.81 361,279,768 2.62 0.300 to 0.300 31.65 to 31.65
12/31/2024 9,377,064 26.44 to 26.44 247,968,138 3.00 0.300 to 0.300 4.74 to 4.74
12/31/2023 10,012,280 25.25 to 25.25 252,785,349 2.84 0.300 to 0.300 15.20 to 15.20
12/31/2022 9,893,721 21.92 to 21.92 216,838,071 3.40 0.300 to 0.300 (16.26) to (16.26)
12/31/2021 9,752,070 26.17 to 26.17 255,247,398 1.89 0.270 to 0.270 8.24 to 8.24
Vanguard® Total Stock Market Index
12/31/2025 19,984,559 106.08 to 106.08 2,120,033,016 1.17 0.300 to 0.300 16.58 to 16.58
12/31/2024 22,073,540 90.99 to 90.99 2,008,556,093 1.24 0.300 to 0.300 23.34 to 23.34
12/31/2023 23,623,334 73.77 to 73.77 1,742,802,008 1.15 0.300 to 0.300 25.57 to 25.57
12/31/2022 24,817,962 58.75 to 58.75 1,458,042,807 1.35 0.300 to 0.300 (19.83) to (19.83)
12/31/2021 25,959,246 73.28 to 73.28 1,902,357,351 1.21 0.270 to 0.270 25.30 to 25.30
(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.
17
Transamerica Life Insurance Company
Separate Account VA DD
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 0.10% 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 $25, proportionately from the subaccounts' unit values. An annual charge of 0.20% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC's assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges.
7. Income Tax
Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code). The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation. The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC. Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts.
18
Transamerica Life Insurance Company
Separate Account VA DD
Notes to Financial Statements
December 31, 2025
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.
19
Transamerica Life Insurance Company
Separate Account VA DD
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.
20
Separate Account Va DD published this content on April 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 24, 2026 at 21:23 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]