Financial Statements by Insurance Company (Form N-VPFS)

CIGNA Variable Annuity Separate Account I

S-1

CIGNA Variable Annuity Separate Account I

Statements of assets and liabilities

December 31, 2024

Subaccount			Investments			Total Assets			Net Assets
Alger Capital Appreciation Portfolio - Class I-2			$	323,211		$	323,211		$	323,211
Alger Large Cap Growth Portfolio - Class I-2			1,013,970			1,013,970			1,013,970
Alger Mid Cap Growth Portfolio - Class I-2			653,182			653,182			653,182
Alger Small Cap Growth Portfolio - Class I-2			533,265			533,265			533,265
Fidelity® VIP Asset Manager Portfolio - Initial Class			8,415			8,415			8,415
Fidelity® VIP Equity-Income Portfolio - Initial Class			488,821			488,821			488,821
Fidelity® VIP Government Money Market Portfolio - Initial Class			80,218			80,218			80,218
Fidelity® VIP High Income Portfolio - Initial Class			251,170			251,170			251,170
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			94,865			94,865			94,865
Fidelity® VIP Overseas Portfolio - Initial Class			276,804			276,804			276,804
MFS® VIT Total Return Series - Initial Class			60,718			60,718			60,718
MFS® VIT Utilities Series - Initial Class			240,194			240,194			240,194
MFS® VIT II Income Portfolio - Initial Class			4,682			4,682			4,682
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			34,847			34,847			34,847
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			1,237			1,237			1,237
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			350,893			350,893			350,893

See accompanying notes

S-2

CIGNA Variable Annuity Separate Account I

Statements of operations

Year Ended December 31, 2024

Subaccount			Dividends from Investment Income			Mortality and Expense Guarantee Charges			Net Investment Income (Loss)			Net Realized Gain (Loss) on Investments			Dividends from Net Realized Gain on Investments			Total Net Realized Gain (Loss) on Investments			Net Change in Unrealized Appreciation or Depreciation on Investments			Net Increase in Net Assets Resulting from Operations
Alger Capital Appreciation Portfolio - Class I-2			$	-		$	(3,570)		$	(3,570)		$	967		$	-		$	967		$	104,753		$	102,150
Alger Large Cap Growth Portfolio - Class I-2			-			(11,762)			(11,762)			15,953			-			15,953			301,743			305,934
Alger Mid Cap Growth Portfolio - Class I-2			-			(8,216)			(8,216)			(7,023)			-			(7,023)			125,108			109,869
Alger Small Cap Growth Portfolio - Class I-2			2,033			(6,803)			(4,770)			(5,262)			-			(5,262)			44,130			34,098
Fidelity® VIP Asset Manager Portfolio - Initial Class			217			(248)			(31)			2,312			121			2,433			(683)			1,719
Fidelity® VIP Equity-Income Portfolio - Initial Class			8,562			(6,232)			2,330			4,339			27,918			32,257			26,281			60,868
Fidelity® VIP Government Money Market Portfolio - Initial Class			3,973			(1,037)			2,936			-			-			-			-			2,936
Fidelity® VIP High Income Portfolio - Initial Class			14,805			(3,214)			11,591			(3,329)			-			(3,329)			9,771			18,033
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			3,340			(1,247)			2,093			(598)			-			(598)			(1,056)			439
Fidelity® VIP Overseas Portfolio - Initial Class			4,707			(3,722)			985			1,393			13,046			14,439			(5,405)			10,019
MFS® VIT Total Return Series - Initial Class			2,044			(975)			1,069			2,256			3,958			6,214			(2,045)			5,238
MFS® VIT Utilities Series - Initial Class			5,485			(3,067)			2,418			2,107			6,768			8,875			11,706			22,999
MFS® VIT II Income Portfolio - Initial Class			183			(68)			115			(154)			-			(154)			142			103
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			-			(685)			(685)			5,485			1,937			7,422			3,622			10,359
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			68			(21)			47			(57)			-			(57)			86			76
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			753			(4,291)			(3,538)			3,562			16,217			19,779			53,513			69,754

See accompanying notes

S-3

CIGNA Variable Annuity Separate Account I

Statements of changes in net assets

Years Ended December 31, 2023 and 2024

			Alger Capital Appreciation Portfolio - Class I-2			Alger Large Cap Growth Portfolio - Class I-2			Alger Mid Cap Growth Portfolio - Class I-2			Alger Small Cap Growth Portfolio - Class I-2			Fidelity® VIP Asset Manager Portfolio - Initial Class			Fidelity® VIP Equity-Income Portfolio - Initial Class			Fidelity® VIP Government Money Market Portfolio - Initial Class			Fidelity® VIP High Income Portfolio - Initial Class
			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
NET ASSETS AT JANUARY 1, 2023			$	156,191		$	621,517		$	510,511		$	447,924		$	21,834		$	412,929		$	83,646		$	231,357
Changes From Operations:
Net investment income (loss)			(2,469)			(9,191)			(7,094)			(6,100)			250			2,754			2,756			10,372
Net realized gain (loss) on investments			(147)			(7,432)			(18,654)			(10,281)			252			13,282			-			(2,428)
Net change in unrealized appreciation or depreciation on investments			67,132			204,260			131,946			82,640			2,006			21,676			-			12,700
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			64,516			187,637			106,198			66,259			2,508			37,712			2,756			20,644
Changes From Unit Transactions:
Net unit transactions			207			(33,782)			(30,396)			(9,300)			(6)			(5,211)			(7,532)			(6,058)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM UNIT TRANSACTIONS			207			(33,782)			(30,396)			(9,300)			(6)			(5,211)			(7,532)			(6,058)
TOTAL INCREASE (DECREASE) IN NET ASSETS			64,723			153,855			75,802			56,959			2,502			32,501			(4,776)			14,586
NET ASSETS AT DECEMBER 31, 2023			220,914			775,372			586,313			504,883			24,336			445,430			78,870			245,943
Changes From Operations:
Net investment income (loss)			(3,570)			(11,762)			(8,216)			(4,770)			(31)			2,330			2,936			11,591
Net realized gain (loss) on investments			967			15,953			(7,023)			(5,262)			2,433			32,257			-			(3,329)
Net change in unrealized appreciation or depreciation on investments			104,753			301,743			125,108			44,130			(683)			26,281			-			9,771
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS			102,150			305,934			109,869			34,098			1,719			60,868			2,936			18,033
Changes From Unit Transactions:
Net unit transactions			147			(67,336)			(43,000)			(5,716)			(17,640)			(17,477)			(1,588)			(12,806)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM UNIT TRANSACTIONS			147			(67,336)			(43,000)			(5,716)			(17,640)			(17,477)			(1,588)			(12,806)
TOTAL INCREASE (DECREASE) IN NET ASSETS			102,297			238,598			66,869			28,382			(15,921)			43,391			1,348			5,227
NET ASSETS AT DECEMBER 31, 2024			$	323,211		$	1,013,970		$	653,182		$	533,265		$	8,415		$	488,821		$	80,218		$	251,170

See accompanying notes

S-4

CIGNA Variable Annuity Separate Account I

Statements of changes in net assets (continued)

Years Ended December 31, 2023 and 2024

			Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			Fidelity® VIP Overseas Portfolio - Initial Class			MFS® VIT Total Return Series - Initial Class			MFS® VIT Utilities Series - Initial Class			MFS® VIT II Income Portfolio - Initial Class			Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			Neuberger Berman AMT Short Duration Bond Portfolio - I Class			Neuberger Berman AMT Sustainable Equity Portfolio - I Class
			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
NET ASSETS AT JANUARY 1, 2023			$	96,663		$	237,391		$	75,893		$	260,186		$	7,151		$	51,623		$	2,553		$	246,391
Changes From Operations:
Net investment income (loss)			1,224			(631)			579			5,101			120			(713)			58			(2,498)
Net realized gain (loss) on investments			(766)			2,750			3,766			18,415			(343)			(122)			(77)			6,023
Net change in unrealized appreciation or depreciation on investments			4,117			41,526			2,439			(32,079)			601			9,233			116			55,516
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			4,575			43,645			6,784			(8,563)			378			8,398			97			59,041
Changes From Unit Transactions:
Net unit transactions			(3,802)			(12,057)			(1,096)			(25,488)			(1,912)			(2,310)			(721)			(17,507)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM UNIT TRANSACTIONS			(3,802)			(12,057)			(1,096)			(25,488)			(1,912)			(2,310)			(721)			(17,507)
TOTAL INCREASE (DECREASE) IN NET ASSETS			773			31,588			5,688			(34,051)			(1,534)			6,088			(624)			41,534
NET ASSETS AT DECEMBER 31, 2023			97,436			268,979			81,581			226,135			5,617			57,711			1,929			287,925
Changes From Operations:
Net investment income (loss)			2,093			985			1,069			2,418			115			(685)			47			(3,538)
Net realized gain (loss) on investments			(598)			14,439			6,214			8,875			(154)			7,422			(57)			19,779
Net change in unrealized appreciation or depreciation on investments			(1,056)			(5,405)			(2,045)			11,706			142			3,622			86			53,513
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS			439			10,019			5,238			22,999			103			10,359			76			69,754
Changes From Unit Transactions:
Net unit transactions			(3,010)			(2,194)			(26,101)			(8,940)			(1,038)			(33,223)			(768)			(6,786)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM UNIT TRANSACTIONS			(3,010)			(2,194)			(26,101)			(8,940)			(1,038)			(33,223)			(768)			(6,786)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(2,571)			7,825			(20,863)			14,059			(935)			(22,864)			(692)			62,968
NET ASSETS AT DECEMBER 31, 2024			$	94,865		$	276,804		$	60,718		$	240,194		$	4,682		$	34,847		$	1,237		$	350,893

See accompanying notes

S-5

CIGNA Variable Annuity Separate Account I

Notes to financial statements

December 31, 2024

1. Accounting Policies and Variable Account Information

The Variable Account: CIGNA Variable Annuity Separate Account I (the Variable Account) is a segregated investment account of CIGNA Life Insurance Company (CIGNA Life) and is registered as a unit investment trust with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended. The operations of the Variable Account are part of the operations of CIGNA Life. The assets and liabilities of the Variable Account are clearly identified and distinguished from other assets and liabilities of CIGNA Life. The assets of the Variable Account are owned by CIGNA Life, but are not available to meet the general obligations of CIGNA Life. The Variable Account only offers one product (Flexible Payment Deferred) at one fee rate.

Effective January 1, 1998, CIGNA Life contracted the administrative servicing obligations to its individual variable annuity business to The Lincoln National Life Insurance Company (Lincoln Life). Although CIGNA Life is responsible for all policy terms and conditions, Lincoln Life is responsible for servicing the individual annuity contracts, including the payment of benefits, oversight of investment management and contract administration.

Basis of Presentation: The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for unit investment trusts.

Accounting Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions affecting the reported amounts as of the date of the financial statements. Those estimates are inherently subject to change and actual results could differ from those estimates. Included among the material (or potentially material) reported amounts that require use of estimates is the fair value of certain assets.

Investments: The assets of the Variable Account are divided into variable subaccounts, each of which may be invested in shares of one of seventeen mutual funds (the Funds) of six open-ended management investment companies, each Fund with its own investment objective. The Funds are:

The Alger Portfolios:
Alger Capital Appreciation Portfolio - Class I-2
Alger Large Cap Growth Portfolio - Class I-2
Alger Mid Cap Growth Portfolio - Class I-2
Alger Small Cap Growth Portfolio - Class I-2
Fidelity® Variable Insurance Products:
Fidelity® VIP Asset Manager Portfolio - Initial Class
Fidelity® VIP Equity-Income Portfolio - Initial Class
Fidelity® VIP Government Money Market Portfolio - Initial Class
Fidelity® VIP High Income Portfolio - Initial Class
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class
Fidelity® VIP Overseas Portfolio - Initial Class
Goldman Sachs Variable Insurance Trust:
Goldman Sachs VIT Government Money Market Fund - Institutional Shares*
MFS® Variable Insurance Trust:
MFS® VIT Total Return Series - Initial Class
MFS® VIT Utilities Series - Initial Class
MFS® Variable Insurance Trust II:
MFS® VIT II Income Portfolio - Initial Class
Neuberger Berman Advisers Management Trust:
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class
Neuberger Berman AMT Short Duration Bond Portfolio - I Class
Neuberger Berman AMT Sustainable Equity Portfolio - I Class

* Available fund with no money invested at December 31, 2024

Each subaccount invests in shares of a single underlying Fund. The investment performance of the subaccount will reflect the investment performance of the underlying Fund less separate account expenses. There is no assurance that the investment objective of any underlying Fund will be met. A Fund calculates a daily net asset value per share ("NAV") which is based on the market value of its investment portfolio. The amount of risk varies significantly between subaccounts. Due to the level of risk associated with certain investment portfolios, it is at least reasonably possible that changes in the values of investment portfolios will occur in the near term and that such changes could materially affect contract holders' investments in the Fund and the amounts reported in the financial statements. The contract holder assumes all of the investment performance risk for the subaccounts selected.

S-6

CIGNA Variable Annuity Separate Account I

Notes to financial statements (continued)

1. Accounting Policies and Variable Account Information (continued)

Investments in the Funds are stated at fair value as determined by the closing net asset value per share on December 31, 2024. Net asset value is quoted by the Funds as derived by the fair value of the Funds' underlying investments. The difference between cost and net asset value is reflected as unrealized appreciation or depreciation of investments. There are no redemption restrictions on investments in the Funds.

Investments for which the fair value is measured at NAV using the practical expedient (investments in investees measured at NAV) are excluded from the fair value hierarchy. Accordingly, the Variable Account's investments in the Funds have not been classified in the fair value hierarchy.

Investment transactions are accounted for on a trade-date basis. The cost of investments sold is determined by the average cost method.

ASC 946-10-15, "Financial Services - Investment Companies (Topic 946) - Scope and Scope Exceptions" provides accounting guidance for assessing whether an entity is an investment company. This guidance evaluates the entity's purpose and design to determine whether the entity is an investment company. The standard also adds additional disclosure requirements regarding contractually required commitments to investees. Management has evaluated the criteria in the standard and concluded that the Variable Account qualifies as an investment company and therefore applies the accounting requirements of ASC 946.

Dividends: Dividends paid to the Variable Account are automatically reinvested in shares of the Funds on the payable date with the exception of Fidelity VIP Government Money Market Portfolio which is invested monthly. Dividend income is recorded on the ex-dividend date.

Federal Income Taxes: Operations of the Variable Account form a part of and are taxed with operations of CIGNA Life, which is taxed as a "life insurance company" under the Internal Revenue Code. The Variable Account will not be taxed as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended. Under current federal income tax law, no federal income taxes are payable or receivable with respect to the Variable Account's Net Investment Income (Loss) and the Net Realized Gain (Loss) on Investments.

Annuity Reserves: The amount of annuity reserves is determined by the actuarial assumptions which meet statutory requirements. Gains or losses resulting from the actuarial mortality experience, the responsibility of which is assumed by CIGNA Life, are offset by transfers to or from CIGNA Life.

Diversification Requirements: Under the provisions of Section 817(h) of the Internal Revenue Code of 1986 (the Code), a variable annuity contract, other than a contract issued in connection with certain types of employee benefit plans, will not be treated as an annuity contract for federal tax purposes for any period for which the investments of the segregated asset account, on which the contract is based, are not adequately diversified. The Code provides that the "adequately diversified" requirement may be met if the underlying investments satisfy either a statutory safe harbor test or diversification requirements set forth in regulations issued by the Secretary of the Treasury. CIGNA Life believes, based on assurances from the mutual fund managers, that the mutual funds satisfy the requirements of the regulations.

Segment Reporting: In this reporting period, we adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect our financial position or the results of its operations.

Each subaccount of the Variable Account constitutes a single operating segment and therefore, a single reportable segment because the CODM manages the activities of the Variable Account using information of each fund. The Variable Account is engaged in a single line of business as a registered unit investment trust. The Variable Account is a funding vehicle for individual variable annuity contracts with assets owned by CIGNA Life to support the liabilities of the applicable insurance contracts. The subaccounts have identified the Board of Directors of the Lincoln Financial Investments Corporation as the chief operating decision maker ("CODM") as the Variable Account does not have employees and is not a separate legal entity.

The CODM uses Net Increase (Decrease) in Net Assets Resulting from Operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the subaccounts within the Variable Account. The accounting policies used to measure profit and loss of the segments are the same as those described in the Accounting Policies and Variable Account Information (see note 1). The measure of segment assets is reported on the Statements of assets and liabilities as Total Assets and significant segment expenses are listed on the Statements of operations. Refer to the Statements of operations and Statements of changes in net assets for each subaccount's operating segment results as of December 31, 2024 and 2023.

S-7

CIGNA Variable Annuity Separate Account I

Notes to financial statements (continued)

2. Mortality and Expense Guarantees and Other Transactions with Affiliates

CIGNA Life assumes the risk that annuitants may live longer than expected and also assumes a mortality risk in connection with the death benefits of the contract. CIGNA Life also assumes a risk that its actual administrative expenses may be higher than amounts deducted for such expenses. CIGNA Life charges each variable subaccount the daily equivalent of 1.20%, at an effective annual rate, of the current value of each subaccount's assets for the assumption of these risks. The mortality and expense risk charges for each of the variable subaccounts are reported in the Statements of operations.

CIGNA Life also deducts a daily administrative fee from assets of each variable subaccount as partial reimbursement for administrative expenses relating to the issuance and maintenance of the contract and the participant's annuity account. This charge is currently at an effective annual rate of .10%. The administrative fee for each of the variable subaccounts are reported in the Statements of operations.

As partial compensation for administrative services provided, CIGNA Life additionally receives a $35 annuity account fee per year from each contract. This charge is deducted from the fixed or variable subaccount of the participant or on a pro-rata basis from two or more fixed or variable subaccounts in relation to their values under the contract. Fixed subaccounts are part of the general account of CIGNA Life and are not included in the financial statements. The annuity account fee will be waived for any contract year in which the annuity account value equals or exceeds $100,000 as of the last valuation date of the contract year. Annuity account fees for the variable subaccounts for the years ended December 31, 2024 and 2023, amounted to $900 and $1,030, respectively.

For an additional charge (optional death benefit fee), an optional death benefit may be selected by the participants. The optional death benefit fee will be deducted from the participant's fixed or variable subaccount or on a pro-rata basis from two or more fixed or variable subaccounts in relation to their values under the contract on the date of each contract anniversary. No optional death benefit fees were paid to CIGNA Life for the year ended December 31, 2024. Optional death benefit fees paid to CIGNA Life amounted to $20,280 for the year ended December 31, 2023.

Under certain circumstances, CIGNA Life reserves the right to charge a transfer fee of up to $10 for transfers between subaccounts. No transfer fees were deducted for the years ended December 31, 2024 and 2023.

No deduction for sales charges is made from the premium payment. However, if a cash withdrawal is made, a withdrawal charge (contingent deferred sales charge) may be assessed by CIGNA Life. The withdrawal charge, if assessed, varies from 0-7% depending upon the duration of each contract deposit. The withdrawal charge is deducted from withdrawal proceeds for full withdrawals and reduces the remaining account value for partial withdrawals. These charges are paid to CIGNA Life as reimbursement for services provided. These services include commissions paid to sales personnel, the cost associated with preparation of sales literature and other promotional costs and acquisition expenses. For the year ended December 31, 2024 and 2023, there were no withdrawal charges paid.

Withdrawal, account and all other charges are included within Net unit transactions on the Statements of changes in net assets.

S-8

3. Financial Highlights

A summary of the fee rates, unit values, units outstanding, net assets and total return and investment income ratios for variable annuity contracts as of and for each year or period in the five years ended December 31, 2024, follows:

Subaccount			Year			Commencement Date (1)			Minimum Fee Rate (2)			Maximum Fee Rate (2)			Minimum Unit Value ($) (3)			Maximum Unit Value ($) (3)			Units Outstanding			Net Assets ($)			Minimum Total Return (4)			Maximum Total Return (4)			Investment Income Ratio (5)
Alger Capital Appreciation Portfolio - Class I-2			2024						1.30		%	1.30		%	198.05			198.05			1,632			323,211			46.22		%	46.22		%	0.00		%
			2023						1.30		%	1.30		%	135.45			135.45			1,631			220,914			41.28		%	41.28		%	0.00		%
			2022						1.30		%	1.30		%	95.87			95.87			1,629			156,191			-37.34		%	-37.34		%	0.00		%
			2021						1.30		%	1.30		%	153.01			153.01			1,990			304,488			17.59		%	17.59		%	0.00		%
			2020						1.30		%	1.30		%	130.12			130.12			2,549			331,736			39.92		%	39.92		%	0.00		%
Alger Large Cap Growth Portfolio - Class I-2			2024						1.30		%	1.30		%	96.49			96.49			10,509			1,013,970			41.04		%	41.04		%	0.00		%
			2023						1.30		%	1.30		%	68.41			68.41			11,334			775,372			30.96		%	30.96		%	0.00		%
			2022						1.30		%	1.30		%	52.24			52.24			11,898			621,517			-39.45		%	-39.45		%	0.00		%
			2021						1.30		%	1.30		%	86.27			86.27			12,551			1,082,813			10.40		%	10.40		%	0.00		%
			2020						1.30		%	1.30		%	78.15			78.15			12,861			1,005,073			64.87		%	64.87		%	0.19		%
Alger Mid Cap Growth Portfolio - Class I-2			2024						1.30		%	1.30		%	89.05			89.05			7,335			653,182			19.51		%	19.51		%	0.00		%
			2023						1.30		%	1.30		%	74.52			74.52			7,868			586,313			21.58		%	21.58		%	0.00		%
			2022						1.30		%	1.30		%	61.29			61.29			8,330			510,511			-36.90		%	-36.90		%	0.00		%
			2021						1.30		%	1.30		%	97.13			97.13			9,043			878,315			2.86		%	2.86		%	0.00		%
			2020						1.30		%	1.30		%	94.43			94.43			9,231			871,678			62.50		%	62.50		%	0.00		%
Alger Small Cap Growth Portfolio - Class I-2			2024						1.30		%	1.30		%	39.73			39.73			13,424			533,265			6.73		%	6.73		%	0.39		%
			2023						1.30		%	1.30		%	37.22			37.22			13,565			504,883			14.99		%	14.99		%	0.00		%
			2022						1.30		%	1.30		%	32.37			32.37			13,838			447,924			-38.82		%	-38.82		%	0.00		%
			2021						1.30		%	1.30		%	52.90			52.90			14,713			778,366			-7.27		%	-7.27		%	0.00		%
			2020						1.30		%	1.30		%	57.05			57.05			15,628			891,659			64.99		%	64.99		%	1.10		%
Fidelity® VIP Asset Manager Portfolio - Initial Class			2024						1.30		%	1.30		%	39.32			39.32			214			8,415			7.10		%	7.10		%	1.14		%
			2023						1.30		%	1.30		%	36.71			36.71			663			24,336			11.48		%	11.48		%	2.39		%
			2022						1.30		%	1.30		%	32.93			32.93			663			21,834			-16.04		%	-16.04		%	2.10		%
			2021						1.30		%	1.30		%	39.22			39.22			663			26,010			8.50		%	8.50		%	1.64		%
			2020						1.30		%	1.30		%	36.15			36.15			663			23,977			13.39		%	13.39		%	1.53		%
Fidelity® VIP Equity-Income Portfolio - Initial Class			2024						1.30		%	1.30		%	64.08			64.08			7,629			488,821			13.86		%	13.86		%	1.79		%
			2023						1.30		%	1.30		%	56.28			56.28			7,915			445,430			9.22		%	9.22		%	1.96		%
			2022						1.30		%	1.30		%	51.53			51.53			8,014			412,929			-6.19		%	-6.19		%	1.85		%
			2021						1.30		%	1.30		%	54.92			54.92			8,976			492,983			23.28		%	23.28		%	1.85		%
			2020						1.30		%	1.30		%	44.55			44.55			10,247			456,523			5.32		%	5.32		%	1.83		%
Fidelity® VIP Government Money Market Portfolio - Initial Class			2024						1.30		%	1.30		%	13.47			13.47			5,957			80,218			3.75		%	3.75		%	4.99		%

S-9

CIGNA Variable Annuity Separate Account I

Notes to financial statements (continued)

3. Financial Highlights (continued)

Subaccount			Year			Commencement Date (1)			Minimum Fee Rate (2)			Maximum Fee Rate (2)			Minimum Unit Value ($) (3)			Maximum Unit Value ($) (3)			Units Outstanding			Net Assets ($)			Minimum Total Return (4)			Maximum Total Return (4)			Investment Income Ratio (5)
			2023						1.30		%	1.30		%	12.98			12.98			6,076			78,870			3.54		%	3.54		%	4.78		%
			2022						1.30		%	1.30		%	12.54			12.54			6,672			83,646			0.13		%	0.13		%	1.42		%
			2021						1.30		%	1.30		%	12.52			12.52			7,247			90,736			-1.28		%	-1.28		%	0.01		%
			2020						1.30		%	1.30		%	12.68			12.68			7,738			98,142			-0.98		%	-0.98		%	0.32		%
Fidelity® VIP High Income Portfolio - Initial Class			2024						1.30		%	1.30		%	24.61			24.61			10,206			251,170			7.56		%	7.56		%	5.99		%
			2023						1.30		%	1.30		%	22.88			22.88			10,750			245,943			9.05		%	9.05		%	5.68		%
			2022						1.30		%	1.30		%	20.98			20.98			11,028			231,357			-12.52		%	-12.52		%	4.97		%
			2021						1.30		%	1.30		%	23.98			23.98			11,686			280,265			3.06		%	3.06		%	5.29		%
			2020						1.30		%	1.30		%	23.27			23.27			12,488			290,601			1.42		%	1.42		%	5.03		%
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			2024						1.30		%	1.30		%	23.56			23.56			4,027			94,865			0.47		%	0.47		%	3.48		%
			2023						1.30		%	1.30		%	23.45			23.45			4,156			97,436			4.83		%	4.83		%	2.58		%
			2022						1.30		%	1.30		%	22.37			22.37			4,322			96,663			-14.09		%	-14.09		%	2.22		%
			2021						1.30		%	1.30		%	26.03			26.03			4,888			127,258			-1.89		%	-1.89		%	1.99		%
			2020						1.30		%	1.30		%	26.53			26.53			5,774			153,216			7.98		%	7.98		%	2.18		%
Fidelity® VIP Overseas Portfolio - Initial Class			2024						1.30		%	1.30		%	32.22			32.22			8,591			276,804			3.70		%	3.70		%	1.64		%
			2023						1.30		%	1.30		%	31.07			31.07			8,657			268,979			18.95		%	18.95		%	1.05		%
			2022						1.30		%	1.30		%	26.12			26.12			9,088			237,391			-25.46		%	-25.46		%	1.02		%
			2021						1.30		%	1.30		%	35.04			35.04			10,250			359,174			18.15		%	18.15		%	0.53		%
			2020						1.30		%	1.30		%	29.66			29.66			10,462			310,297			14.12		%	14.12		%	0.45		%
MFS® VIT Total Return Series - Initial Class			2024						1.30		%	1.30		%	50.46			50.46			1,203			60,718			6.36		%	6.36		%	2.73		%
			2023						1.30		%	1.30		%	47.44			47.44			1,720			81,581			9.02		%	9.02		%	2.05		%
			2022						1.30		%	1.30		%	43.52			43.52			1,744			75,893			-10.75		%	-10.75		%	1.61		%
			2021						1.30		%	1.30		%	48.76			48.76			2,416			117,813			12.64		%	12.64		%	1.67		%
			2020						1.30		%	1.30		%	43.29			43.29			3,816			165,159			8.39		%	8.39		%	2.30		%
MFS® VIT Utilities Series - Initial Class			2024						1.30		%	1.30		%	104.50			104.50			2,299			240,194			10.22		%	10.22		%	2.32		%
			2023						1.30		%	1.30		%	94.81			94.81			2,385			226,135			-3.37		%	-3.37		%	3.47		%
			2022						1.30		%	1.30		%	98.12			98.12			2,652			260,186			-0.55		%	-0.55		%	2.42		%
			2021						1.30		%	1.30		%	98.66			98.66			2,897			285,806			12.62		%	12.62		%	1.81		%
			2020						1.30		%	1.30		%	87.60			87.60			2,827			247,614			4.53		%	4.53		%	2.33		%
MFS® VIT II Income Portfolio - Initial Class			2024						1.30		%	1.30		%	22.97			22.97			204			4,682			1.91		%	1.91		%	3.51		%
			2023						1.30		%	1.30		%	22.54			22.54			249			5,617			6.20		%	6.20		%	3.29		%
			2022						1.30		%	1.30		%	21.22			21.22			337			7,151			-14.82		%	-14.82		%	2.56		%
			2021						1.30		%	1.30		%	24.91			24.91			1,082			26,947			-0.83		%	-0.83		%	3.13		%

S-10

CIGNA Variable Annuity Separate Account I

Notes to financial statements (continued)

3. Financial Highlights (continued)

Subaccount			Year			Commencement Date (1)			Minimum Fee Rate (2)			Maximum Fee Rate (2)			Minimum Unit Value ($) (3)			Maximum Unit Value ($) (3)			Units Outstanding			Net Assets ($)			Minimum Total Return (4)			Maximum Total Return (4)			Investment Income Ratio (5)
			2020						1.30		%	1.30		%	25.12			25.12			1,227			30,816			7.94		%	7.94		%	3.64		%
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			2024						1.30		%	1.30		%	48.55			48.55			718			34,847			22.42		%	22.42		%	0.00		%
			2023						1.30		%	1.30		%	39.66			39.66			1,455			57,711			16.62		%	16.62		%	0.00		%
			2022						1.30		%	1.30		%	34.01			34.01			1,518			51,623			-29.66		%	-29.66		%	0.00		%
			2021						1.30		%	1.30		%	48.34			48.34			1,752			84,696			11.53		%	11.53		%	0.00		%
			2020						1.30		%	1.30		%	43.34			43.34			1,886			81,748			38.17		%	38.17		%	0.00		%
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			2024						1.30		%	1.30		%	14.73			14.73			84			1,237			4.73		%	4.73		%	4.24		%
			2023						1.30		%	1.30		%	14.07			14.07			137			1,929			4.53		%	4.53		%	4.04		%
			2022						1.30		%	1.30		%	13.46			13.46			190			2,553			-6.41		%	-6.41		%	3.55		%
			2021						1.30		%	1.30		%	14.38			14.38			374			5,379			-0.56		%	-0.56		%	2.53		%
			2020						1.30		%	1.30		%	14.46			14.46			414			5,986			2.13		%	2.13		%	2.22		%
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			2024						1.30		%	1.30		%	81.65			81.65			4,297			350,893			24.22		%	24.22		%	0.23		%
			2023						1.30		%	1.30		%	65.73			65.73			4,380			287,925			25.26		%	25.26		%	0.35		%
			2022						1.30		%	1.30		%	52.48			52.48			4,695			246,391			-19.51		%	-19.51		%	0.43		%
			2021						1.30		%	1.30		%	65.19			65.19			5,333			347,703			21.88		%	21.88		%	0.38		%
			2020						1.30		%	1.30		%	53.49			53.49			5,533			295,984			18.02		%	18.02		%	0.62		%

(1) Reflects less than a full year of activity. Funds were first received in this option on the commencement date noted or the option was inactive at the date funds were received thereby a succeeding commencement date is disclosed. In the scenario where a subaccount commenced operations during the year, the total returns may not bear proportion to the fee rate range if multiple fee rates commenced during the year.

(2) These amounts represent the annualized minimum and maximum contract expenses of the separate account, consisting primarily of mortality and expense charges, for only those subaccounts that existed for the entire year. In the scenario where a subaccount commenced operations during the year, the range only includes those subaccounts that contained investments as of the end of the year. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying funds have been excluded.

(3) As the unit value is presented as a range of minimum to maximum values for only those subaccounts which existed for the entire year, some individual contract unit values may not be within the ranges presented as a result of partial year activity. In the scenario where a subaccount commenced operations during the year, the range only includes those subaccounts that contained investments as of the end of the year.

(4) These amounts represent the total return, including changes in value of mutual funds, and reflect deductions for all items included in the fee rate. The total return does not include contract charges deducted directly from policy account values. The total return is not annualized.As the total return is presented as a range of minimum to maximum values for only those subaccounts that existed for the entire year, some individual contract total returns may not be within the ranges presented as a result of partial year activity. In the scenario where a subaccount commenced operations during the year, the range only includes those subaccounts that contained investments as of the end of the year.

(5) These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying 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 guarantee charges, that result in direct reductions in the unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying fund in which the subaccounts invest. Investment income ratios are not annualized.

Note: Fee rate, unit value and total return minimum and maximum are the same where there is only one active contract level charge for the subaccount.

S-11

CIGNA Variable Annuity Separate Account I

Notes to financial statements (continued)

4. Purchases and Sales of Investments

The aggregate cost of investments purchased and the aggregate proceeds from investments sold were as follows for 2024:

Subaccount			Aggregate Cost of Purchases			Aggregate Proceeds from Sales
Alger Capital Appreciation Portfolio - Class I-2			$	76		$	3,499
Alger Large Cap Growth Portfolio - Class I-2			-			79,098
Alger Mid Cap Growth Portfolio - Class I-2			-			51,216
Alger Small Cap Growth Portfolio - Class I-2			2,044			12,530
Fidelity® VIP Asset Manager Portfolio - Initial Class			337			17,887
Fidelity® VIP Equity-Income Portfolio - Initial Class			36,446			23,675
Fidelity® VIP Government Money Market Portfolio - Initial Class			4,461			3,113
Fidelity® VIP High Income Portfolio - Initial Class			14,788			16,003
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			3,405			4,322
Fidelity® VIP Overseas Portfolio - Initial Class			17,733			5,896
MFS® VIT Total Return Series - Initial Class			6,079			27,153
MFS® VIT Utilities Series - Initial Class			12,244			11,998
MFS® VIT II Income Portfolio - Initial Class			263			1,186
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			1,936			33,907
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			68			789
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			16,958			11,065

5. Investments

The following is a summary of investments owned at December 31, 2024:

Subaccount			Shares Owned			Net Asset Value			Fair Value of Shares			Cost of Shares
Alger Capital Appreciation Portfolio - Class I-2			2,789			$	115.87		$	323,211		$	198,326
Alger Large Cap Growth Portfolio - Class I-2			11,369			89.19			1,013,970			681,616
Alger Mid Cap Growth Portfolio - Class I-2			32,019			20.40			653,182			671,420
Alger Small Cap Growth Portfolio - Class I-2			29,942			17.81			533,265			749,756
Fidelity® VIP Asset Manager Portfolio - Initial Class			512			16.45			8,415			7,502
Fidelity® VIP Equity-Income Portfolio - Initial Class			18,384			26.59			488,821			413,045
Fidelity® VIP Government Money Market Portfolio - Initial Class			80,218			1.00			80,218			80,218
Fidelity® VIP High Income Portfolio - Initial Class			53,214			4.72			251,170			303,136
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			8,640			10.98			94,865			109,157
Fidelity® VIP Overseas Portfolio - Initial Class			10,868			25.47			276,804			232,680
MFS® VIT Total Return Series - Initial Class			2,609			23.27			60,718			56,087
MFS® VIT Utilities Series - Initial Class			7,019			34.22			240,194			198,564
MFS® VIT II Income Portfolio - Initial Class			563			8.31			4,682			5,397
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			1,114			31.28			34,847			28,656
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			128			9.66			1,237			1,359
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			8,788			39.93			350,893			235,930

S-12

CIGNA Variable Annuity Separate Account I

Notes to financial statements (continued)

6. Changes in Units Outstanding

The change in units outstanding for the year ended December 31, 2024, is as follows:

Subaccount			Units Issued			Units Redeemed			Net Increase (Decrease)
Alger Capital Appreciation Portfolio - Class I-2			2			(1)			1
Alger Large Cap Growth Portfolio - Class I-2			-			(825)			(825)
Alger Mid Cap Growth Portfolio - Class I-2			-			(533)			(533)
Alger Small Cap Growth Portfolio - Class I-2			8			(149)			(141)
Fidelity® VIP Asset Manager Portfolio - Initial Class			-			(449)			(449)
Fidelity® VIP Equity-Income Portfolio - Initial Class			1			(287)			(286)
Fidelity® VIP Government Money Market Portfolio - Initial Class			47			(166)			(119)
Fidelity® VIP High Income Portfolio - Initial Class			-			(544)			(544)
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			4			(133)			(129)
Fidelity® VIP Overseas Portfolio - Initial Class			-			(66)			(66)
MFS® VIT Total Return Series - Initial Class			2			(519)			(517)
MFS® VIT Utilities Series - Initial Class			-			(86)			(86)
MFS® VIT II Income Portfolio - Initial Class			4			(49)			(45)
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			-			(737)			(737)
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			-			(53)			(53)
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			-			(83)			(83)

The change in units outstanding for the year ended December 31, 2023, is as follows:

Subaccount			Units Issued			Units Redeemed			Net Increase (Decrease)
Alger Capital Appreciation Portfolio - Class I-2			3			(1)			2
Alger Large Cap Growth Portfolio - Class I-2			310			(874)			(564)
Alger Mid Cap Growth Portfolio - Class I-2			112			(574)			(462)
Alger Small Cap Growth Portfolio - Class I-2			8			(281)			(273)
Fidelity® VIP Equity-Income Portfolio - Initial Class			5			(104)			(99)
Fidelity® VIP Government Money Market Portfolio - Initial Class			984			(1,580)			(596)
Fidelity® VIP High Income Portfolio - Initial Class			-			(278)			(278)
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			4			(170)			(166)
Fidelity® VIP Overseas Portfolio - Initial Class			158			(589)			(431)
MFS® VIT Total Return Series - Initial Class			91			(115)			(24)
MFS® VIT Utilities Series - Initial Class			-			(267)			(267)
MFS® VIT II Income Portfolio - Initial Class			3			(91)			(88)
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			4			(67)			(63)
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			-			(53)			(53)
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			-			(315)			(315)

7. Subsequent Events

Management evaluated subsequent events through April 24, 2025, the date at which the Variable Account's financial statements were available to be issued and determined there were no additional matters to be disclosed.

S-13

Report of Independent Registered Public Accounting Firm

To the Stockholders and Board of Directors of CIGNA Life Insurance Company and Contract Owners of CIGNA Variable Annuity Separate Account I

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in the Appendix that comprise CIGNA Variable Annuity Separate Account I ("Variable Account"), as of December 31, 2024, the related statements of operations and the statements of changes in net assets for each of the periods indicated in the Appendix, 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, 2024, the results of its operations and changes in its net assets for each of the periods indicated in the Appendix, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Variable 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 Variable 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, 2024, 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.

We have served as the Variable Account's Auditor since at least 2009, but we are unable to determine the specific year.

Philadelphia, Pennsylvania

April 24, 2025

S-14

Subaccount			Statements of Assets and Liabilities			Statements of Operations			Statements of Changes in Net Assets
Alger Capital Appreciation Portfolio - Class I-2			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Alger Large Cap Growth Portfolio - Class I-2			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Alger Mid Cap Growth Portfolio - Class I-2			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Alger Small Cap Growth Portfolio - Class I-2			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Fidelity® VIP Asset Manager Portfolio - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Fidelity® VIP Equity-Income Portfolio - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Fidelity® VIP Government Money Market Portfolio - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Fidelity® VIP High Income Portfolio - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Fidelity® VIP Overseas Portfolio - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
MFS® VIT Total Return Series - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
MFS® VIT Utilities Series - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
MFS® VIT II Income Portfolio - Initial Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Neuberger Berman AMT Mid Cap Growth Portfolio - I Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Neuberger Berman AMT Short Duration Bond Portfolio - I Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024
Neuberger Berman AMT Sustainable Equity Portfolio - I Class			As of December 31, 2024			For the year ended December 31, 2024			For each of the two years in the period ended December 31, 2024

S-15