COLI VUL-2 Series Account
Financial Statements
Year Ended December 31, 2023
(With Report of Independent Registered Public Accounting Firm Thereon)
Report of Independent Registered Public Accounting Firm
To the Policy Owners of COLI VUL-2 Series Account and Those Charged with Governance of COLI VUL-2 Series Account of Empower Annuity Insurance Company of America:
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of the subaccounts listed in Appendix A that comprise COLI VUL-2 Series Account (the Separate Account) as of December 31, 2023, the related statements of operations for the year or period then ended, the statements of changes in net assets for each of the years or periods in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years or periods in the three-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Separate Account as of December 31, 2023, the results of its operations for the year or period then ended, the changes in its net assets for each of the years or periods in the two-year period then ended, and the financial highlights for each of the years or periods in the three-year period then ended, in conformity with U.S. generally accepted accounting principles. The financial highlights for each of the years in the two-year period ended December 31, 2020 were audited by other independent registered public accountants whose report, dated May 10, 2021, expressed an unqualified opinion on those financial highlights.
Basis for Opinion
These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Separate Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of December 31, 2023, by correspondence with the underlying mutual funds or their transfer agents; when replies were not received, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.
| /s/ KPMG LLP |
We have served as the auditor of one or more Empower Annuity Insurance Company of America Separate Accounts since 2021.
Birmingham, Alabama
April 12, 2024
1
Appendix A
The subaccounts that comprise COLI VUL-2 Series Account were audited according to varying periods as defined in the table below:
| Subaccount | Statement
of Assets and Liabilities |
Statement
of Operations |
Statements
of Changes in Net Assets |
| Alger Small Cap Growth Portfolio, Class I-2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Century Investments VP Capital Appreciation Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Century Investments VP Inflation Protection Fund, Class II | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Century Investments VP International Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Century Investments VP Mid Cap Value Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Century Investments VP Ultra Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Century Investments VP Value Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Funds IS Global Small Capitalization Fund, Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Funds IS Growth Fund, Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Funds IS Growth- Income Fund, Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Funds IS International Fund, Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| American Funds IS New World Fund, Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| BlackRock 60/40 Target Allocation ETF V.I. Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| BlackRock Global Allocation V.I. Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
2
| BlackRock High Yield V.I., Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| BNY Mellon Stock Index Fund, Initial Shares | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| ClearBridge Variable Mid Cap Portfolio, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| ClearBridge Variable Small Cap Growth Portfolio, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Columbia VP Small Cap Value Fund, Class 1 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Davis Financial Portfolio | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Davis Value Portfolio | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Delaware VIP International Series, Standard Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Delaware VIP Small Cap Value Series, Service Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Dimensional VIT Inflation Protected Securities Portfolio, Institutional | As of December 31, 2023 | For the year then ended December 31, 2023 | For the period from April 21, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023 |
| DWS Core Equity VIP, Class A | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| DWS CROCI U.S. VIP, Class A | Not applicable | Not applicable | For the year then ended December 31, 2022 |
| DWS High Income VIP, Class A | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| DWS Small Cap Index VIP, Class A | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| DWS Small Mid Cap Value VIP, Class A | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Eaton Vance VT Floating- Rate Income, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Aggressive Profile Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Ariel Mid Cap Value Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
3
| Empower Bond Index Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Conservative Profile Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Core Bond Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Emerging Markets Equity Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Global Bond Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Government Money Market Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Inflation- Protected Securities Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower International Index Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower International Value Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Large Cap Growth Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Large Cap Value Fund, Investor II Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2015 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2020 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2025 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2030 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2035 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2040 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2045 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
4
| Empower Lifetime 2050 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2055 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Lifetime 2060 Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Mid Cap Value Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Moderate Profile Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Moderately Aggressive Profile Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Moderately Conservative Profile Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Multi-Sector Bond Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Real Estate Index Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower S&P Mid Cap 400 Index Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower S&P Small Cap 600 Index Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Short Duration Bond Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Small Cap Growth Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower Small Cap Value Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower T. Rowe Price Mid Cap Growth Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Empower U.S. Government Securities Fund, Investor Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Federated Hermes High Income Bond Fund II | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Federated Hermes Kaufmann Fund II, Primary Shares | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
5
| Fidelity VIP Contrafund Portfolio, Service Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Fidelity VIP Emerging Markets Portfolio, Service Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Fidelity VIP Growth Portfolio, Service Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Fidelity VIP Index 500 Portfolio, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Fidelity VIP Investment Grade Bond Portfolio, Service Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Fidelity VIP Mid Cap Portfolio, Service Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Goldman Sachs VIT Multi- Strategy Alternatives Portfolio, Service Shares | Not applicable | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Invesco Global Real Estate Fund, Series I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Invesco V.I. Core Equity Fund, Series I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Invesco V.I. EQV International Equity Fund, Series I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Invesco V.I. Health Care Fund, Series I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Invesco V.I. Main Street Mid Cap Fund | As of December 31, 2023 | Not applicable | For each of the years in the two- year period then ended December 31, 2023 |
| Invesco V.I. Main Street Small Cap Fund | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Janus Aspen Series Janus Henderson Flexible Bond Portfolio | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Janus Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Janus Henderson Balanced Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
6
| Janus Henderson Enterprise Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Janus Henderson Forty Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Janus Henderson Global Research Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Janus Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Lord Abbett Series Fund Developing Growth Portfolio | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Lord Abbett Series Fund Total Return Portfolio | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| LVIP JPMorgan Small Cap Core Fund, Standard Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For the period from January 3, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023 |
| LVIP JPMorgan U.S. Equity Fund, Standard Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For the period from January 3, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023 |
| MFS Blended Research Small Cap Equity Portfolio, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| MFS Global Real Estate Portfolio, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| MFS Growth Series, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| MFS International Growth Portfolio, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| MFS Mid Cap Growth Series, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| MFS Mid Cap Value Portfolio, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| MFS Research Series, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| MFS Total Return Bond Series, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
7
| MFS Value Series, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Neuberger Berman AMT Mid Cap Growth Portfolio, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio, Class I | As of December 31, 2023 | Not applicable | For each of the years in the two- year period then ended December 31, 2023 |
| Neuberger Berman AMT Sustainable Equity Portfolio, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| PIMCO Commodity RealReturn Strategy Portfolio, Admin Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| PIMCO High Yield Portfolio, Admin Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| PIMCO Income Portfolio, Institutional Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For the year then ended December 31, 2023 |
| PIMCO Low Duration Portfolio, Admin Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| PIMCO Real Return Portfolio, Admin Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| PIMCO Total Return Portfolio, Admin Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Pioneer Real Estate Shares VCT Portfolio, Class I | Not applicable | For the period from January 1, 2023 to April 28, 2023 (cessation of operations) | For the year then ended December 31, 2022 and period from January 1, 2023 to April 28, 2023 (cessation of operations) |
| Putnam VT Focused International Equity Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT Global Asset Allocation Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT High Yield Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT Income Fund, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
8
| Putnam VT International Value Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT Large Cap Growth Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT Large Cap Value Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT Research Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT Small Cap Value Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Putnam VT Sustainable Future Fund, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Royce Capital Fund Small Cap Portfolio, Service Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| T. Rowe Price Blue Chip Growth Portfolio, Class II | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| VanEck VIP Emerging Markets Fund, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| VanEck VIP Global Resources Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Vanguard VIF Global Bond Index Portfolio | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Vanguard VIF Total Bond Market Index Portfolio | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
| Victory RS Small Cap Growth Equity VIP Series, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two- year period then ended December 31, 2023 |
9
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Alger
Small Cap Growth Portfolio, Class I-2 | American
Century Investments VP Capital Appreciation Fund, Class I | American
Century Investments VP Inflation Protection Fund, Class II | American
Century Investments VP International Fund, Class I | American
Century Investments VP Mid Cap Value Fund, Class I | American
Century Investments VP Ultra Fund, Class I | American
Century Investments VP Value Fund, Class I | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 441,394 | $ | 499,357 | $ | 3,665,204 | $ | 47,822 | $ | 1,787,845 | $ | 23 | $ | 975,213 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | - | - | 5,296 | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | - | - | - | 49,437 | |||||||||||||||||||||
| Total assets | 441,394 | 499,357 | 3,665,204 | 47,822 | 1,793,141 | 23 | 1,024,650 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | - | - | - | 49,437 | |||||||||||||||||||||
| Payable to the fund manager | - | - | - | - | 5,296 | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | - | - | - | 5,296 | - | 49,437 | |||||||||||||||||||||
| NET ASSETS | $ | 441,394 | $ | 499,357 | $ | 3,665,204 | $ | 47,822 | $ | 1,787,845 | $ | 23 | $ | 975,213 | ||||||||||||||
| Fair value per share (NAV) | $ | 16.53 | $ | 14.22 | $ | 9.37 | $ | 10.58 | $ | 19.44 | $ | 25.65 | $ | 12.19 | ||||||||||||||
| Shares outstanding in the Separate Account | 26,703 | 35,117 | 391,164 | 4,520 | 91,967 | 1 | 80,001 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 654,161 | $ | 511,393 | $ | 4,006,707 | $ | 37,464 | $ | 2,060,830 | $ | 18 | $ | 972,226 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
10
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| American
Funds IS Global Small Capitalization Fund, Class 2 | American
Funds IS Growth Fund, Class 2 | American
Funds IS Growth-Income Fund, Class 2 | American
Funds IS International Fund, Class 2 | American
Funds IS New World Fund, Class 2 | BlackRock
60/40 Target Allocation ETF V.I. Fund, Class I | BlackRock
Global Allocation V.I. Fund, Class I | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 104,485 | $ | 3,508,190 | $ | 337 | $ | 1,791,141 | $ | 1,541,639 | $ | 22 | $ | 2,758,055 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | 1,410 | - | - | - | 23 | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | 43,362 | - | - | - | - | - | |||||||||||||||||||||
| Total assets | 105,895 | 3,551,552 | 337 | 1,791,141 | 1,541,662 | 22 | 2,758,055 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | 43,362 | - | - | - | - | - | |||||||||||||||||||||
| Payable to the fund manager | 1,410 | - | - | - | 23 | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | 1,410 | 43,362 | - | - | 23 | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 104,485 | $ | 3,508,190 | $ | 337 | $ | 1,791,141 | $ | 1,541,639 | $ | 22 | $ | 2,758,055 | ||||||||||||||
| Fair value per share (NAV) | $ | 17.50 | $ | 98.20 | $ | 58.30 | $ | 17.41 | $ | 25.17 | $ | 13.25 | $ | 16.31 | ||||||||||||||
| Shares outstanding in the Separate Account | 5,971 | 35,725 | 6 | 102,880 | 61,249 | 2 | 169,102 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 97,088 | $ | 3,259,839 | $ | 297 | $ | 2,169,580 | $ | 1,718,526 | $ | 21 | $ | 3,096,252 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
11
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| BlackRock
High Yield V.I., Class I | BNY
Mellon Stock Index Fund, Initial Shares | ClearBridge Variable Mid Cap Portfolio, Class I | ClearBridge Variable Small Cap Growth Portfolio, Class I | Columbia
VP Small Cap Value Fund, Class 1 | Davis
Financial Portfolio | Davis
Value Portfolio | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 588,229 | $ | 31,264,518 | $ | 98,323 | $ | 578,053 | $ | 147,885 | $ | 402,451 | $ | 165,655 | ||||||||||||||
| Receivable from dividends | 3,159 | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | 56 | 3,896 | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | 220,265 | - | - | - | - | - | |||||||||||||||||||||
| Total assets | 591,388 | 31,484,783 | 98,379 | 581,949 | 147,885 | 402,451 | 165,655 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | 220,265 | - | - | - | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | - | 56 | 3,896 | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | 34 | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | 220,299 | 56 | 3,896 | - | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 591,388 | $ | 31,264,484 | $ | 98,323 | $ | 578,053 | $ | 147,885 | $ | 402,451 | $ | 165,655 | ||||||||||||||
| Fair value per share (NAV) | $ | 6.84 | $ | 69.08 | $ | 22.82 | $ | 27.35 | $ | 12.98 | $ | 13.06 | $ | 6.24 | ||||||||||||||
| Shares outstanding in the Separate Account | 85,998 | 452,584 | 4,309 | 21,135 | 11,393 | 30,816 | 26,547 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 616,882 | $ | 28,084,727 | $ | 103,874 | $ | 536,257 | $ | 131,367 | $ | 427,227 | $ | 204,819 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
12
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Delaware
VIP International Series, Standard Class | Delaware
VIP Small Cap Value Series, Service Class | Dimensional
VIT Inflation Protected Securities Portfolio, Institutional | DWS
Core Equity VIP, Class A | DWS
High Income VIP, Class A | DWS
Small Cap Index VIP, Class A | DWS
Small Mid Cap Value VIP, Class A | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 269,794 | $ | 602,080 | $ | 53,956 | $ | 24 | $ | 368,616 | $ | 9,239,593 | $ | 1,527,464 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | 3,870 | 603 | - | - | 4,716 | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | 242 | - | - | 7,920 | - | |||||||||||||||||||||
| Total assets | 273,664 | 602,683 | 54,198 | 24 | 373,332 | 9,247,513 | 1,527,464 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | 242 | - | - | 7,920 | - | |||||||||||||||||||||
| Payable to the fund manager | 3,870 | 603 | - | - | 4,716 | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | 10 | - | |||||||||||||||||||||
| Total liabilities | 3,870 | 603 | 242 | - | 4,716 | 7,930 | - | |||||||||||||||||||||
| NET ASSETS | $ | 269,794 | $ | 602,080 | $ | 53,956 | $ | 24 | $ | 368,616 | $ | 9,239,583 | $ | 1,527,464 | ||||||||||||||
| Fair value per share (NAV) | $ | 16.75 | $ | 38.14 | $ | 9.06 | $ | 12.24 | $ | 5.63 | $ | 13.63 | $ | 13.86 | ||||||||||||||
| Shares outstanding in the Separate Account | 16,107 | 15,786 | 5,955 | 2 | 65,474 | 677,887 | 110,207 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 267,957 | $ | 632,653 | $ | 54,466 | $ | 22 | $ | 375,578 | $ | 10,406,689 | $ | 1,429,770 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
13
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Eaton
Vance VT Floating-Rate Income, Initial Class | Empower Aggressive Profile Fund, Investor Class | Empower
Ariel Mid Cap Value Fund, Investor Class | Empower
Bond Index Fund, Investor Class | Empower Conservative Profile Fund, Investor Class | Empower
Core Bond Fund, Investor Class | Empower
Emerging Markets Equity Fund, Investor Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 1,567,281 | $ | 426,052 | $ | 195,337 | $ | 4,090,417 | $ | 477,255 | $ | 94,422 | $ | 16 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | 44 | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | 3,864 | 44 | - | - | |||||||||||||||||||||
| Total assets | 1,567,281 | 426,096 | 195,337 | 4,094,281 | 477,299 | 94,422 | 16 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | 3,864 | 44 | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | 44 | - | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | 44 | - | 3,864 | 44 | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 1,567,281 | $ | 426,052 | $ | 195,337 | $ | 4,090,417 | $ | 477,255 | $ | 94,422 | $ | 16 | ||||||||||||||
| Fair value per share (NAV) | $ | 8.65 | $ | 5.43 | $ | 8.82 | $ | 12.75 | $ | 7.38 | $ | 9.70 | $ | 8.36 | ||||||||||||||
| Shares outstanding in the Separate Account | 181,189 | 78,463 | 22,147 | 320,817 | 64,669 | 9,734 | 2 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 1,618,628 | $ | 470,974 | $ | 196,893 | $ | 4,241,261 | $ | 474,612 | $ | 95,793 | $ | (400 | ) | |||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
14
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
Global Bond Fund, Investor Class | Empower Government Money Market Fund, Investor Class | Empower
Inflation- Protected Securities Fund, Investor Class | Empower International Index Fund, Investor Class | Empower International Value Fund, Investor Class | Empower
Large Cap Growth Fund, Investor Class | Empower
Large Cap Value Fund, Investor II Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 972,073 | $ | 32,435,559 | $ | 19 | $ | 5,402,878 | $ | 4,410,190 | $ | 803,561 | $ | 2,696,993 | ||||||||||||||
| Receivable from dividends | - | 12,616 | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | - | - | - | 425 | - | |||||||||||||||||||||
| Receivable from the fund manager | - | 326,812 | - | 1,406 | 69,815 | - | - | |||||||||||||||||||||
| Total assets | 972,073 | 32,774,987 | 19 | 5,404,284 | 4,480,005 | 803,986 | 2,696,993 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | 326,812 | - | 1,406 | 69,815 | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | - | - | - | - | 425 | - | |||||||||||||||||||||
| Payable to the Company | - | 702,298 | - | 6 | 5 | - | - | |||||||||||||||||||||
| Total liabilities | - | 1,029,110 | - | 1,412 | 69,820 | 425 | - | |||||||||||||||||||||
| NET ASSETS | $ | 972,073 | $ | 31,745,877 | $ | 19 | $ | 5,402,872 | $ | 4,410,185 | $ | 803,561 | $ | 2,696,993 | ||||||||||||||
| Fair value per share (NAV) | $ | 6.92 | $ | 1.00 | $ | 8.98 | $ | 12.35 | $ | 12.03 | $ | 9.02 | $ | 11.39 | ||||||||||||||
| Shares outstanding in the Separate Account | 140,473 | 32,435,559 | 2 | 437,480 | 366,599 | 89,087 | 236,786 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 1,067,364 | $ | 32,435,559 | $ | 21 | $ | 5,362,785 | $ | 4,569,269 | $ | 701,495 | $ | 2,445,105 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
15
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
Lifetime 2015 Fund, Investor Class | Empower
Lifetime 2020 Fund, Investor Class | Empower
Lifetime 2025 Fund, Investor Class | Empower
Lifetime 2030 Fund, Investor Class | Empower
Lifetime 2035 Fund, Investor Class | Empower
Lifetime 2040 Fund, Investor Class | Empower
Lifetime 2045 Fund, Investor Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 617,135 | $ | 651,721 | $ | 7,959,113 | $ | 3,637,472 | $ | 2,760,197 | $ | 2,002,411 | $ | 1,021,822 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | 105 | - | 306 | - | 1,942 | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | 91 | - | 14 | - | |||||||||||||||||||||
| Total assets | 617,135 | 651,721 | 7,959,218 | 3,637,563 | 2,760,503 | 2,002,425 | 1,023,764 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | 91 | - | 14 | - | |||||||||||||||||||||
| Payable to the fund manager | - | - | 105 | - | 306 | - | 1,942 | |||||||||||||||||||||
| Payable to the Company | - | - | 9 | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | - | 114 | 91 | 306 | 14 | 1,942 | |||||||||||||||||||||
| NET ASSETS | $ | 617,135 | $ | 651,721 | $ | 7,959,104 | $ | 3,637,472 | $ | 2,760,197 | $ | 2,002,411 | $ | 1,021,822 | ||||||||||||||
| Fair value per share (NAV) | $ | 12.74 | $ | 9.95 | $ | 13.40 | $ | 10.25 | $ | 13.38 | $ | 10.28 | $ | 13.56 | ||||||||||||||
| Shares outstanding in the Separate Account | 48,441 | 65,500 | 593,964 | 354,875 | 206,293 | 194,787 | 75,356 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 660,016 | $ | 716,882 | $ | 8,408,099 | $ | 4,016,598 | $ | 2,888,882 | $ | 2,242,714 | $ | 1,048,753 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
16
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
Lifetime 2050 Fund, Investor Class | Empower
Lifetime 2055 Fund, Investor Class | Empower
Lifetime 2060 Fund, Investor Class | Empower
Mid Cap Value Fund, Investor Class | Empower
Moderate Profile Fund, Investor Class | Empower Moderately Aggressive Profile Fund, Investor Class | Empower Moderately Conservative Profile Fund, Investor Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 396,538 | $ | 572,338 | $ | 1,198 | $ | 468,433 | $ | 243,814 | $ | 132,267 | $ | 3,223,418 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | 515 | - | 45 | - | 26 | 313 | |||||||||||||||||||||
| Receivable from the fund manager | 27 | - | - | - | 215 | - | - | |||||||||||||||||||||
| Total assets | 396,565 | 572,853 | 1,198 | 468,478 | 244,029 | 132,293 | 3,223,731 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | 27 | - | - | - | 215 | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | 515 | - | 45 | - | 26 | 313 | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | 27 | 515 | - | 45 | 215 | 26 | 313 | |||||||||||||||||||||
| NET ASSETS | $ | 396,538 | $ | 572,338 | $ | 1,198 | $ | 468,433 | $ | 243,814 | $ | 132,267 | $ | 3,223,418 | ||||||||||||||
| Fair value per share (NAV) | $ | 10.83 | $ | 17.17 | $ | 10.32 | $ | 12.97 | $ | 6.28 | $ | 6.75 | $ | 7.90 | ||||||||||||||
| Shares outstanding in the Separate Account | 36,615 | 33,334 | 116 | 36,117 | 38,824 | 19,595 | 408,028 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 408,220 | $ | 556,485 | $ | 1,133 | $ | 499,901 | $ | 245,712 | $ | 131,187 | $ | 3,437,974 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
17
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
Multi- Sector Bond Fund, Investor Class | Empower
Real Estate Index Fund, Investor Class | Empower
S&P Mid Cap 400 Index Fund, Investor Class | Empower
S&P Small Cap 600 Index Fund, Investor Class | Empower
Short Duration Bond Fund, Investor Class | Empower
Small Cap Growth Fund, Investor Class | Empower
Small Cap Value Fund, Investor Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 1,609,520 | $ | 1,781,534 | $ | 10,376,701 | $ | 1,089,485 | $ | 3,376,298 | $ | 20 | $ | 1,103,331 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | 636 | 6,743 | 4,472 | 12,784 | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | - | - | - | 6,538 | |||||||||||||||||||||
| Total assets | 1,609,520 | 1,782,170 | 10,383,444 | 1,093,957 | 3,389,082 | 20 | 1,109,869 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | - | - | - | 6,538 | |||||||||||||||||||||
| Payable to the fund manager | - | 636 | 6,743 | 4,472 | 12,784 | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | 11 | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | 636 | 6,754 | 4,472 | 12,784 | - | 6,538 | |||||||||||||||||||||
| NET ASSETS | $ | 1,609,520 | $ | 1,781,534 | $ | 10,376,690 | $ | 1,089,485 | $ | 3,376,298 | $ | 20 | $ | 1,103,331 | ||||||||||||||
| Fair value per share (NAV) | $ | 12.77 | $ | 12.00 | $ | 19.11 | $ | 12.72 | $ | 10.29 | $ | 10.30 | $ | 35.91 | ||||||||||||||
| Shares outstanding in the Separate Account | 126,039 | 148,461 | 542,998 | 85,651 | 328,114 | 2 | 30,725 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 1,567,495 | $ | 1,798,213 | $ | 10,197,192 | $ | 1,006,896 | $ | 3,336,174 | $ | 21 | $ | 796,557 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
18
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
T. Rowe Price Mid Cap Growth Fund, Investor Class | Empower
U.S. Government Securities Fund, Investor Class | Federated
Hermes High Income Bond Fund II | Federated
Hermes Kaufmann Fund II, Primary Shares | Fidelity
VIP Contrafund Portfolio, Service Class 2 | Fidelity
VIP Emerging Markets Portfolio, Service Class 2 | Fidelity
VIP Growth Portfolio, Service Class 2 | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 2,437,013 | $ | 605,386 | $ | 21 | $ | 289,735 | $ | 1,814,488 | $ | 1,777,104 | $ | 39,590 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | 43,748 | - | - | - | - | - | - | |||||||||||||||||||||
| Total assets | 2,480,761 | 605,386 | 21 | 289,735 | 1,814,488 | 1,777,104 | 39,590 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | 43,748 | - | - | - | - | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | - | - | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | 43,748 | - | - | - | - | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 2,437,013 | $ | 605,386 | $ | 21 | $ | 289,735 | $ | 1,814,488 | $ | 1,777,104 | $ | 39,590 | ||||||||||||||
| Fair value per share (NAV) | $ | 35.78 | $ | 10.92 | $ | 5.66 | $ | 17.40 | $ | 46.83 | $ | 10.58 | $ | 89.92 | ||||||||||||||
| Shares outstanding in the Separate Account | 68,111 | 55,438 | 4 | 16,651 | 38,746 | 167,968 | 440 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 2,232,798 | $ | 620,589 | $ | 19 | $ | 290,325 | $ | 1,532,383 | $ | 2,240,513 | $ | 39,835 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
19
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Fidelity
VIP Index 500 Portfolio, Initial Class | Fidelity
VIP Investment Grade Bond Portfolio, Service Class 2 | Fidelity
VIP Mid Cap Portfolio, Service Class 2 | Goldman
Sachs VIT Mid Cap Value Fund, Institutional Shares | Invesco
Global Real Estate Fund, Series I | Invesco
V.I. Core Equity Fund, Series I | Invesco
V.I. EQV International Equity Fund, Series I | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 8,057,064 | $ | 190,942 | $ | 279,935 | $ | 20,912 | $ | 1,138,601 | $ | 17,942 | $ | 2,792,474 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | 7,680 | - | - | - | - | - | 69,200 | |||||||||||||||||||||
| Total assets | 8,064,744 | 190,942 | 279,935 | 20,912 | 1,138,601 | 17,942 | 2,861,674 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | 7,680 | - | - | - | - | - | 69,200 | |||||||||||||||||||||
| Payable to the fund manager | - | - | - | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | 9 | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | 7,689 | - | - | - | - | - | 69,200 | |||||||||||||||||||||
| NET ASSETS | $ | 8,057,055 | $ | 190,942 | $ | 279,935 | $ | 20,912 | $ | 1,138,601 | $ | 17,942 | $ | 2,792,474 | ||||||||||||||
| Fair value per share (NAV) | $ | 461.79 | $ | 10.82 | $ | 34.69 | $ | 16.01 | $ | 13.98 | $ | 29.29 | $ | 34.09 | ||||||||||||||
| Shares outstanding in the Separate Account | 17,447 | 17,647 | 8,070 | 1,306 | 81,445 | 613 | 81,915 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 7,616,666 | $ | 220,576 | $ | 289,221 | $ | 19,216 | $ | 1,218,807 | $ | 18,068 | $ | 2,901,387 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
20
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Invesco
V.I. Health Care Fund, Series I | Invesco
V.I. Main Street Mid Cap Fund | Invesco
V.I. Main Street Small Cap Fund | Janus
Aspen Series Janus Henderson Flexible Bond Portfolio | Janus
Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | Janus
Henderson Balanced Fund, Class I | Janus
Henderson Enterprise Fund, Class I | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 112,911 | $ | 1 | $ | 634,496 | $ | 1,726,348 | $ | 77,210 | $ | 3,009,870 | $ | 544,292 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | 3,898 | - | - | 4,315 | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | 392,089 | - | - | 68 | |||||||||||||||||||||
| Total assets | 112,911 | 1 | 638,394 | 2,118,437 | 77,210 | 3,014,185 | 544,360 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | 392,089 | - | - | 68 | |||||||||||||||||||||
| Payable to the fund manager | - | - | 3,898 | - | - | 4,315 | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | - | 3,898 | 392,089 | - | 4,315 | 68 | |||||||||||||||||||||
| NET ASSETS | $ | 112,911 | $ | 1 | $ | 634,496 | $ | 1,726,348 | $ | 77,210 | $ | 3,009,870 | $ | 544,292 | ||||||||||||||
| Fair value per share (NAV) | $ | 25.91 | $ | 9.79 | $ | 26.91 | $ | 10.05 | $ | 42.07 | $ | 45.28 | $ | 76.52 | ||||||||||||||
| Shares outstanding in the Separate Account | 4,358 | 0 | * | 23,578 | 171,776 | 1,835 | 66,472 | 7,113 | ||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 111,710 | $ | 1 | $ | 628,760 | $ | 1,823,839 | $ | 57,526 | $ | 2,851,986 | $ | 522,581 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
21
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Janus
Henderson Forty Fund, Class I | Janus
Henderson Global Research Fund, Class I | Janus
Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | Lord
Abbett Series Fund Developing Growth Portfolio | Lord
Abbett Series Fund Total Return Portfolio | LVIP
JPMorgan Small Cap Core Fund, Standard Class | LVIP
JPMorgan U.S. Equity Fund, Standard Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 1,944,598 | $ | 426,442 | $ | 2,576,200 | $ | 361,961 | $ | 61,399 | $ | 20 | $ | 23 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | 2,127 | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | - | 236 | - | - | |||||||||||||||||||||
| Total assets | 1,944,598 | 426,442 | 2,578,327 | 361,961 | 61,635 | 20 | 23 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | - | 236 | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | - | 2,127 | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | - | 2,127 | - | 236 | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 1,944,598 | $ | 426,442 | $ | 2,576,200 | $ | 361,961 | $ | 61,399 | $ | 20 | $ | 23 | ||||||||||||||
| Fair value per share (NAV) | $ | 47.35 | $ | 61.10 | $ | 15.98 | $ | 23.96 | $ | 14.20 | $ | 19.85 | $ | 37.63 | ||||||||||||||
| Shares outstanding in the Separate Account | 41,069 | 6,979 | 161,214 | 15,107 | 4,324 | 1 | 1 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 1,857,247 | $ | 405,725 | $ | 2,559,776 | $ | 372,967 | $ | 61,295 | $ | 21 | $ | 22 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
22
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| MFS Blended Research Small Cap Equity Portfolio, Initial Class | MFS Global Real Estate Portfolio, Initial Class | MFS Growth Series, Initial Class | MFS International Growth Portfolio, Initial Class | MFS
Mid Cap Growth Series, Initial Class | MFS
Mid Cap Value Portfolio, Initial Class | MFS
Research Series, Initial Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 22 | $ | 319,924 | $ | 23 | $ | 2,389,395 | $ | 319,908 | $ | 74,135 | $ | 22 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | 891 | - | - | 5 | 47 | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | 522 | - | - | - | |||||||||||||||||||||
| Total assets | 22 | 320,815 | 23 | 2,389,917 | 319,913 | 74,182 | 22 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | 522 | - | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | 891 | - | - | 5 | 47 | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | 891 | - | 522 | 5 | 47 | - | |||||||||||||||||||||
| NET ASSETS | $ | 22 | $ | 319,924 | $ | 23 | $ | 2,389,395 | $ | 319,908 | $ | 74,135 | $ | 22 | ||||||||||||||
| Fair value per share (NAV) | $ | 10.01 | $ | 13.08 | $ | 60.29 | $ | 14.67 | $ | 8.57 | $ | 9.83 | $ | 31.97 | ||||||||||||||
| Shares outstanding in the Separate Account | 2 | 24,459 | 0 | * | 162,876 | 37,329 | 7,542 | 1 | ||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 2,300 | $ | 343,318 | $ | 20 | $ | 2,459,972 | $ | 286,810 | $ | 70,489 | $ | 20 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
23
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| MFS
Total Return Bond Series, Initial Class | MFS
Value Series, Initial Class | Neuberger Berman AMT Mid Cap Growth Portfolio, Class I | Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio, Class I | Neuberger Berman AMT Sustainable Equity Portfolio, Class I | PIMCO Commodity RealReturn Strategy Portfolio, Admin Class | PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 2,910,175 | $ | 1,485,744 | $ | 11,884 | $ | 1 | $ | 261,396 | $ | 79,539 | $ | 1,879,145 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | 778 | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | 16 | - | - | - | - | - | - | |||||||||||||||||||||
| Total assets | 2,910,191 | 1,486,522 | 11,884 | 1 | 261,396 | 79,539 | 1,879,145 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | 16 | - | - | - | - | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | 778 | - | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | 16 | 778 | - | - | - | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 2,910,175 | $ | 1,485,744 | $ | 11,884 | $ | 1 | $ | 261,396 | $ | 79,539 | $ | 1,879,145 | ||||||||||||||
| Fair value per share (NAV) | $ | 11.70 | $ | 21.27 | $ | 26.63 | $ | 15.76 | $ | 33.35 | $ | 5.35 | $ | 9.62 | ||||||||||||||
| Shares outstanding in the Separate Account | 248,733 | 69,852 | 446 | 0 | * | 7,838 | 14,867 | 195,337 | ||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 3,239,599 | $ | 1,509,714 | $ | 12,329 | $ | 1 | $ | 227,443 | $ | 102,343 | $ | 2,199,175 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
24
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| PIMCO High Yield Portfolio, Admin Class | PIMCO Income Portfolio, Institutional Class | PIMCO Low Duration Portfolio, Admin Class | PIMCO Real Return Portfolio, Admin Class | PIMCO Total Return Portfolio, Admin Class | Putnam
VT Focused International Equity Fund, Class IA | Putnam VT Global Asset Allocation Fund, Class IA | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 1,402,121 | $ | 32,150 | $ | 3,568,163 | $ | 1,069,183 | $ | 8,172,937 | $ | 10,560 | $ | 22 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | 1,168 | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | 41 | - | - | - | |||||||||||||||||||||
| Total assets | 1,403,289 | 32,150 | 3,568,163 | 1,069,224 | 8,172,937 | 10,560 | 22 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | 41 | - | - | - | |||||||||||||||||||||
| Payable to the fund manager | 1,168 | - | - | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | 9 | - | - | |||||||||||||||||||||
| Total liabilities | 1,168 | - | - | 41 | 9 | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 1,402,121 | $ | 32,150 | $ | 3,568,163 | $ | 1,069,183 | $ | 8,172,928 | $ | 10,560 | $ | 22 | ||||||||||||||
| Fair value per share (NAV) | $ | 7.18 | $ | 9.95 | $ | 9.60 | $ | 11.57 | $ | 9.18 | $ | 14.51 | $ | 17.56 | ||||||||||||||
| Shares outstanding in the Separate Account | 195,282 | 3,231 | 371,684 | 92,410 | 890,298 | 728 | 1 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 1,460,721 | $ | 31,567 | $ | 3,667,538 | $ | 1,207,204 | $ | 9,484,948 | $ | 10,426 | $ | 20 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
25
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam VT High Yield Fund, Class IA | Putnam VT Income Fund, Class IB | Putnam
VT International Value Fund, Class IA | Putnam VT Large Cap Growth Fund, Class IA | Putnam VT Large Cap Value Fund, Class IA | Putnam VT Research Fund, Class IA | Putnam VT Small Cap Value Fund, Class IA | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 89,715 | $ | 233,962 | $ | 1,155,245 | $ | 394,433 | $ | 1,958,315 | $ | 24 | $ | 3,853 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | 978 | 136 | 7,910 | - | - | |||||||||||||||||||||
| Total assets | 89,715 | 233,962 | 1,156,223 | 394,569 | 1,966,225 | 24 | 3,853 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | 978 | 136 | 7,910 | - | - | |||||||||||||||||||||
| Payable to the fund manager | - | - | - | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | - | 978 | 136 | 7,910 | - | - | |||||||||||||||||||||
| NET ASSETS | $ | 89,715 | $ | 233,962 | $ | 1,155,245 | $ | 394,433 | $ | 1,958,315 | $ | 24 | $ | 3,853 | ||||||||||||||
| Fair value per share (NAV) | $ | 5.61 | $ | 8.29 | $ | 11.93 | $ | 14.04 | $ | 29.24 | $ | 34.91 | $ | 11.70 | ||||||||||||||
| Shares outstanding in the Separate Account | 15,992 | 28,222 | 96,835 | 28,093 | 66,974 | 1 | 329 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 94,026 | $ | 249,904 | $ | 1,024,255 | $ | 298,015 | $ | 1,825,155 | $ | 18 | $ | 3,508 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
26
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam VT Sustainable Future Fund, Class IA | Royce Capital Fund Small Cap Portfolio, Service Class | T.
Rowe Price Blue Chip Growth Portfolio, Class II | VanEck VIP Emerging Markets Fund, Initial Class | VanEck VIP Global Resources Fund, Class I | Vanguard VIF Global Bond Index Portfolio | Vanguard VIF Total Bond Market Index Portfolio | ||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 266,747 | $ | 82,560 | $ | 3,298,412 | $ | 43,807 | $ | 1,523,549 | $ | 799,345 | $ | 2,769,441 | ||||||||||||||
| Receivable from dividends | - | - | - | - | - | - | - | |||||||||||||||||||||
| Receivable from the Policies | - | - | 2,047 | - | - | - | - | |||||||||||||||||||||
| Receivable from the fund manager | - | - | - | - | - | 36 | - | |||||||||||||||||||||
| Total assets | 266,747 | 82,560 | 3,300,459 | 43,807 | 1,523,549 | 799,381 | 2,769,441 | |||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | - | - | - | - | 36 | - | |||||||||||||||||||||
| Payable to the fund manager | - | - | 2,047 | - | - | - | - | |||||||||||||||||||||
| Payable to the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
| Total liabilities | - | - | 2,047 | - | - | 36 | - | |||||||||||||||||||||
| NET ASSETS | $ | 266,747 | $ | 82,560 | $ | 3,298,412 | $ | 43,807 | $ | 1,523,549 | $ | 799,345 | $ | 2,769,441 | ||||||||||||||
| Fair value per share (NAV) | $ | 14.97 | $ | 9.37 | $ | 43.54 | $ | 9.21 | $ | 26.59 | $ | 18.60 | $ | 10.63 | ||||||||||||||
| Shares outstanding in the Separate Account | 17,819 | 8,811 | 75,756 | 4,756 | 57,298 | 42,976 | 260,531 | |||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 284,164 | $ | 74,700 | $ | 2,616,643 | $ | 57,289 | $ | 1,359,850 | $ | 875,839 | $ | 2,909,467 | ||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Continued)
See accompanying notes to financial statements.
27
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF ASSETS AND LIABILITIES
AS OF DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Victory
RS Small Cap Growth Equity VIP Series, Class I |
||||||||||||||||||||||||||||
| ASSETS: | ||||||||||||||||||||||||||||
| Investments at fair value (1) | $ | 19 | ||||||||||||||||||||||||||
| Receivable from dividends | - | |||||||||||||||||||||||||||
| Receivable from the Policies | - | |||||||||||||||||||||||||||
| Receivable from the fund manager | - | |||||||||||||||||||||||||||
| Total assets | 19 | |||||||||||||||||||||||||||
| LIABILITIES: | ||||||||||||||||||||||||||||
| Payable to the Policies | - | |||||||||||||||||||||||||||
| Payable to the fund manager | - | |||||||||||||||||||||||||||
| Payable to the Company | - | |||||||||||||||||||||||||||
| Total liabilities | - | |||||||||||||||||||||||||||
| NET ASSETS | $ | 19 | ||||||||||||||||||||||||||
| Fair value per share (NAV) | $ | 9.56 | ||||||||||||||||||||||||||
| Shares outstanding in the Separate Account | 2 | |||||||||||||||||||||||||||
| (1) Investments in mutual fund shares, at cost | $ | 22 | ||||||||||||||||||||||||||
* The Subaccount has shares that round to less than one.
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.
(Concluded)
See accompanying notes to financial statements.
28
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Alger Small Cap Growth Portfolio, Class I-2 | American Century Investments VP Capital Appreciation Fund, Class I | American Century Investments VP Inflation Protection Fund, Class II | American Century Investments VP International Fund, Class I | American Century Investments VP Mid Cap Value Fund, Class I | American Century Investments VP Ultra Fund, Class I | American Century Investments VP Value Fund, Class I | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | - | $ | - | $ | 116,383 | $ | 613 | $ | 39,497 | $ | - | $ | 23,042 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | - | - | 116,383 | 613 | 39,497 | - | 23,042 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (40,245 | ) | (1,367 | ) | (85,384 | ) | (858 | ) | (31,922 | ) | (84,725 | ) | 5,382 | |||||||||||||||
| Capital gain distributions | - | 656 | - | - | 186,520 | 14,046 | 74,078 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (40,245 | ) | (711 | ) | (85,384 | ) | (858 | ) | 154,598 | (70,679 | ) | 79,460 | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 105,088 | 86,997 | 62,171 | 5,874 | (103,105 | ) | 93,133 | (17,788 | ) | |||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 64,843 | 86,286 | (23,213 | ) | 5,016 | 51,493 | 22,454 | 61,672 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 64,843 | $ | 86,286 | $ | 93,170 | $ | 5,629 | $ | 90,990 | $ | 22,454 | $ | 84,714 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
29
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| American Funds IS Global Small Capitalization Fund, Class 2 | American Funds IS Growth Fund, Class 2 | American Funds IS Growth-Income Fund, Class 2 | American Funds IS International Fund, Class 2 | American Funds IS New World Fund, Class 2 | BlackRock 60/40 Target Allocation ETF V.I. Fund, Class I | BlackRock Global Allocation V.I. Fund, Class I | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 235 | $ | 11,745 | $ | 4 | $ | 22,449 | $ | 20,676 | $ | - | $ | 58,878 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 235 | 11,745 | 4 | 22,449 | 20,676 | - | 58,878 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (41,285 | ) | 67,734 | 2 | (104,199 | ) | 5,813 | - | (117,893 | ) | ||||||||||||||||||
| Capital gain distributions | 991 | 185,419 | 16 | - | - | - | - | |||||||||||||||||||||
| Net realized gain (loss) on investments | (40,294 | ) | 253,153 | 18 | (104,199 | ) | 5,813 | - | (117,893 | ) | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 51,401 | 791,684 | 50 | 324,177 | 184,864 | 3 | 375,531 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 11,107 | 1,044,837 | 68 | 219,978 | 190,677 | 3 | 257,638 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 11,342 | $ | 1,056,582 | $ | 72 | $ | 242,427 | $ | 211,353 | $ | 3 | $ | 316,516 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
30
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| BlackRock High Yield V.I., Class I | BNY
Mellon Stock Index Fund, Initial Shares | ClearBridge Variable Mid Cap Portfolio, Class I | ClearBridge Variable Small Cap Growth Portfolio, Class I | Columbia VP Small Cap Value Fund, Class 1 | Davis Financial Portfolio | Davis
Value Portfolio | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 43,914 | $ | 402,677 | $ | 127 | $ | - | $ | 955 | $ | 8,105 | $ | 2,011 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 43,914 | 402,677 | 127 | - | 955 | 8,105 | 2,011 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (36,739 | ) | 830,943 | (2,699 | ) | (12,868 | ) | (5,005 | ) | (9,650 | ) | (1,184 | ) | |||||||||||||||
| Capital gain distributions | - | 1,021,683 | 774 | - | 9,215 | 16,296 | 16,062 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (36,739 | ) | 1,852,626 | (1,925 | ) | (12,868 | ) | 4,210 | 6,646 | 14,878 | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 73,691 | 4,226,754 | 11,416 | 55,734 | 21,314 | 32,504 | 24,191 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 36,952 | 6,079,380 | 9,491 | 42,866 | 25,524 | 39,150 | 39,069 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 80,866 | $ | 6,482,057 | $ | 9,618 | $ | 42,866 | $ | 26,479 | $ | 47,255 | $ | 41,080 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
31
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Delaware VIP International Series, Standard Class | Delaware VIP Small Cap Value Series, Service Class | Dimensional
VIT Inflation Protected Securities Portfolio, Institutional | DWS
Core Equity VIP, Class A | DWS
High Income VIP, Class A | DWS Small Cap Index VIP, Class A | DWS Small Mid Cap Value VIP, Class A | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 2,726 | $ | 3,414 | $ | 2,025 | $ | - | $ | 15,268 | $ | 94,290 | $ | 16,332 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 2,726 | 3,414 | 2,025 | - | 15,268 | 94,290 | 16,332 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (1,468 | ) | (39,315 | ) | (13,820 | ) | - | (4,505 | ) | (152,967 | ) | 4,210 | ||||||||||||||||
| Capital gain distributions | - | 22,886 | - | 1 | - | 202,126 | 54,846 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (1,468 | ) | (16,429 | ) | (13,820 | ) | 1 | (4,505 | ) | 49,159 | 59,056 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 15,591 | 59,561 | 15,094 | 4 | 21,952 | 1,178,642 | 132,412 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 14,123 | 43,132 | 1,274 | 5 | 17,447 | 1,227,801 | 191,468 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 16,849 | $ | 46,546 | $ | 3,299 | $ | 5 | $ | 32,715 | $ | 1,322,091 | $ | 207,800 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
32
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Eaton
Vance VT Floating-Rate Income, Initial Class |
Empower Aggressive Profile Fund, Investor Class |
Empower Ariel Mid Cap Value Fund, Investor Class |
Empower Bond Index Fund, Investor Class |
Empower Conservative Profile Fund, Investor Class |
Empower Core Bond Fund, Investor Class |
Empower Emerging Markets Equity Fund, Investor Class |
||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 124,681 | $ | 12,592 | $ | 3,160 | $ | 75,523 | $ | 14,549 | $ | 2,031 | $ | 863 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 124,681 | 12,592 | 3,160 | 75,523 | 14,549 | 2,031 | 863 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (10,450 | ) | (77,526 | ) | (23,306 | ) | (298,010 | ) | (72,451 | ) | (2,551 | ) | 25 | |||||||||||||||
| Capital gain distributions | - | 10,829 | 12,748 | - | 7,187 | - | - | |||||||||||||||||||||
| Net realized gain (loss) on investments | (10,450 | ) | (66,697 | ) | (10,558 | ) | (298,010 | ) | (65,264 | ) | (2,551 | ) | 25 | |||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 46,927 | 121,471 | 37,357 | 429,902 | 82,810 | 6,171 | 2,780 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 36,477 | 54,774 | 26,799 | 131,892 | 17,546 | 3,620 | 2,805 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 161,158 | $ | 67,366 | $ | 29,959 | $ | 207,415 | $ | 32,095 | $ | 5,651 | $ | 3,668 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
33
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Global Bond Fund, Investor Class | Empower Government Money Market Fund, Investor Class | Empower Inflation- Protected Securities Fund, Investor Class | Empower International Index Fund, Investor Class | Empower International Value Fund, Investor Class | Empower Large Cap Growth Fund, Investor Class | Empower Large Cap Value Fund, Investor II Class | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 7,494 | $ | 1,412,969 | $ | 1 | $ | 119,655 | $ | 61,811 | $ | 694 | $ | 28,038 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 7,494 | 1,412,969 | 1 | 119,655 | 61,811 | 694 | 28,038 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (140,633 | ) | - | - | (5,451 | ) | 76,605 | 20,898 | 33,145 | |||||||||||||||||||
| Capital gain distributions | - | - | - | 107,612 | 78,972 | 23,263 | 132,305 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (140,633 | ) | - | - | 102,161 | 155,577 | 44,161 | 165,450 | ||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 181,028 | - | - | 584,162 | 779,425 | 158,584 | 115,466 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 40,395 | - | - | 686,323 | 935,002 | 202,745 | 280,916 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 47,889 | $ | 1,412,969 | $ | 1 | $ | 805,978 | $ | 996,813 | $ | 203,439 | $ | 308,954 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
34
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Lifetime 2015 Fund, Investor Class | Empower Lifetime 2020 Fund, Investor Class | Empower Lifetime 2025 Fund, Investor Class | Empower Lifetime 2030 Fund, Investor Class | Empower Lifetime 2035 Fund, Investor Class | Empower Lifetime 2040 Fund, Investor Class | Empower Lifetime 2045 Fund, Investor Class | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 17,538 | $ | 16,884 | $ | 177,923 | $ | 89,037 | $ | 51,993 | $ | 44,481 | $ | 16,405 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 17,538 | 16,884 | 177,923 | 89,037 | 51,993 | 44,481 | 16,405 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (5,936 | ) | (13,147 | ) | (146,335 | ) | (116,673 | ) | (26,982 | ) | (37,493 | ) | (39,223 | ) | ||||||||||||||
| Capital gain distributions | 8,572 | 11,911 | 158,842 | 96,212 | 66,062 | 60,386 | 25,430 | |||||||||||||||||||||
| Net realized gain (loss) on investments | 2,636 | (1,236 | ) | 12,507 | (20,461 | ) | 39,080 | 22,893 | (13,793 | ) | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 38,080 | 49,823 | 671,901 | 335,769 | 242,192 | 203,970 | 145,484 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 40,716 | 48,587 | 684,408 | 315,308 | 281,272 | 226,863 | 131,691 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 58,254 | $ | 65,471 | $ | 862,331 | $ | 404,345 | $ | 333,265 | $ | 271,344 | $ | 148,096 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
35
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Lifetime 2050 Fund, Investor Class | Empower Lifetime 2055 Fund, Investor Class | Empower Lifetime 2060 Fund, Investor Class | Empower Mid Cap Value Fund, Investor Class | Empower Moderate Profile Fund, Investor Class | Empower Moderately Aggressive Profile Fund, Investor Class | Empower Moderately Conservative Profile Fund, Investor Class | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 8,826 | $ | 6,593 | $ | 24 | $ | 2,093 | $ | 7,495 | $ | 2,571 | $ | 88,650 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 8,826 | 6,593 | 24 | 2,093 | 7,495 | 2,571 | 88,650 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (20,939 | ) | (56,202 | ) | - | (18,113 | ) | (11,238 | ) | (7,326 | ) | (27,393 | ) | |||||||||||||||
| Capital gain distributions | 15,254 | 13,699 | 18 | 183 | 2,735 | 2,985 | 61,686 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (5,685 | ) | (42,503 | ) | 18 | (17,930 | ) | (8,503 | ) | (4,341 | ) | 34,293 | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 64,079 | 113,025 | 69 | 71,509 | 24,480 | 16,328 | 134,085 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 58,394 | 70,522 | 87 | 53,579 | 15,977 | 11,987 | 168,378 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 67,220 | $ | 77,115 | $ | 111 | $ | 55,672 | $ | 23,472 | $ | 14,558 | $ | 257,028 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
36
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Multi- Sector Bond Fund, Investor Class | Empower Real Estate Index Fund, Investor Class | Empower S&P Mid Cap 400 Index Fund, Investor Class | Empower S&P Small Cap 600 Index Fund, Investor Class | Empower Short Duration Bond Fund, Investor Class | Empower Small Cap Growth Fund, Investor Class | Empower Small Cap Value Fund, Investor Class | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 30,192 | $ | 30,815 | $ | 44,280 | $ | 5,410 | $ | 77,120 | $ | - | $ | 493 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 30,192 | 30,815 | 44,280 | 5,410 | 77,120 | - | 493 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (4,442 | ) | 18,227 | 92,016 | (119,848 | ) | (19,393 | ) | (1 | ) | 41,262 | |||||||||||||||||
| Capital gain distributions | - | 3,067 | 431,272 | 27,665 | - | - | 24,680 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (4,442 | ) | 21,294 | 523,288 | (92,183 | ) | (19,393 | ) | (1 | ) | 65,942 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 72,658 | 157,522 | 842,164 | 230,267 | 124,904 | 4 | 112,753 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 68,216 | 178,816 | 1,365,452 | 138,084 | 105,511 | 3 | 178,695 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 98,408 | $ | 209,631 | $ | 1,409,732 | $ | 143,494 | $ | 182,631 | $ | 3 | $ | 179,188 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
37
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
T. Rowe Price Mid Cap Growth Fund, Investor Class | Empower
U.S. Government Securities Fund, Investor Class | Federated
Hermes High Income Bond Fund II | Federated
Hermes Kaufmann Fund II, Primary Shares | Fidelity
VIP Contrafund Portfolio, Service Class 2 | Fidelity
VIP Emerging Markets Portfolio, Service Class 2 | Fidelity
VIP Growth Portfolio, Service Class 2 | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | - | $ | 15,640 | $ | 9,257 | $ | - | $ | 4,339 | $ | 34,363 | $ | 1 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | - | 15,640 | 9,257 | - | 4,339 | 34,363 | 1 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | 60,777 | (14,825 | ) | (34,666 | ) | (22,986 | ) | 23,139 | (122,699 | ) | (770 | ) | ||||||||||||||||
| Capital gain distributions | 64,578 | - | - | - | 60,270 | - | 1,780 | |||||||||||||||||||||
| Net realized gain (loss) on investments | 125,355 | (14,825 | ) | (34,666 | ) | (22,986 | ) | 83,409 | (122,699 | ) | 1,010 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 291,537 | 26,675 | 29,054 | 55,795 | 366,444 | 240,392 | 10,488 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 416,892 | 11,850 | (5,612 | ) | 32,809 | 449,853 | 117,693 | 11,498 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 416,892 | $ | 27,490 | $ | 3,645 | $ | 32,809 | $ | 454,192 | $ | 152,056 | $ | 11,499 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
38
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Fidelity
VIP Index 500 Portfolio, Initial Class | Fidelity
VIP Investment Grade Bond Portfolio, Service Class 2 | Fidelity
VIP Mid Cap Portfolio, Service Class 2 | Goldman
Sachs VIT Mid Cap Value Fund, Institutional Shares | Goldman
Sachs VIT Multi-Strategy Alternatives Portfolio, Service Shares | Invesco
Global Real Estate Fund, Series I | Invesco
V.I. Core Equity Fund, Series I | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 105,997 | $ | 4,575 | $ | 1,019 | $ | 201 | $ | - | $ | 16,421 | $ | 125 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 105,997 | 4,575 | 1,019 | 201 | - | 16,421 | 125 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (80,164 | ) | (415 | ) | 9,561 | (2,009 | ) | (197 | ) | (10,847 | ) | (414 | ) | |||||||||||||||
| Capital gain distributions | 59,351 | - | 7,716 | 495 | - | - | 402 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (20,813 | ) | (415 | ) | 17,277 | (1,514 | ) | (197 | ) | (10,847 | ) | (12 | ) | |||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 1,497,873 | 6,361 | 22,331 | 3,663 | 100 | 95,092 | 3,535 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 1,477,060 | 5,946 | 39,608 | 2,149 | (97 | ) | 84,245 | 3,523 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 1,583,057 | $ | 10,521 | $ | 40,627 | $ | 2,350 | $ | (97 | ) | $ | 100,666 | $ | 3,648 | |||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
39
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Invesco
V.I. EQV International Equity Fund, Series I | Invesco
V.I. Health Care Fund, Series I | Invesco
V.I. Main Street Small Cap Fund | Janus
Aspen Series Janus Henderson Flexible Bond Portfolio | Janus
Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | Janus
Henderson Balanced Fund, Class I | Janus
Henderson Enterprise Fund, Class I | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 5,410 | $ | - | $ | 6,768 | $ | 91,338 | $ | 1,141 | $ | 61,504 | $ | 828 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 5,410 | - | 6,768 | 91,338 | 1,141 | 61,504 | 828 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (43,667 | ) | (11,611 | ) | (48,464 | ) | (300,876 | ) | 321 | 137,987 | (141,754 | ) | ||||||||||||||||
| Capital gain distributions | 2,026 | - | - | - | - | - | 35,529 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (41,641 | ) | (11,611 | ) | (48,464 | ) | (300,876 | ) | 321 | 137,987 | (106,225 | ) | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 490,151 | 11,435 | 135,429 | 329,126 | 6,191 | 210,654 | 187,676 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 448,510 | (176 | ) | 86,965 | 28,250 | 6,512 | 348,641 | 81,451 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 453,920 | $ | (176 | ) | $ | 93,733 | $ | 119,588 | $ | 7,653 | $ | 410,145 | $ | 82,279 | |||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
40
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Janus
Henderson Forty Fund, Class I | Janus
Henderson Global Research Fund, Class I | Janus
Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | Lord
Abbett Series Fund Developing Growth Portfolio | Lord
Abbett Series Fund Total Return Portfolio | LVIP
JPMorgan Small Cap Core Fund, Standard Class | LVIP
JPMorgan U.S. Equity Fund, Standard Class | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 3,399 | $ | 2,653 | $ | - | $ | - | $ | 2,585 | $ | - | $ | - | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 3,399 | 2,653 | - | - | 2,585 | - | - | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | 30,654 | 3,401 | (127,159 | ) | (8,496 | ) | (1,452 | ) | (1 | ) | - | |||||||||||||||||
| Capital gain distributions | - | 5,962 | - | - | - | - | 1 | |||||||||||||||||||||
| Net realized gain (loss) on investments | 30,654 | 9,363 | (127,159 | ) | (8,496 | ) | (1,452 | ) | (1 | ) | 1 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 510,084 | 39,101 | 1,061,173 | 61,319 | 2,547 | 3 | 4 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 540,738 | 48,464 | 934,014 | 52,823 | 1,095 | 2 | 5 | |||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 544,137 | $ | 51,117 | $ | 934,014 | $ | 52,823 | $ | 3,680 | $ | 2 | $ | 5 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
41
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| MFS
Blended Research Small Cap Equity Portfolio, Initial Class | MFS
Global Real Estate Portfolio, Initial Class | MFS
Growth Series, Initial Class | MFS
International Growth Portfolio, Initial Class | MFS
Mid Cap Growth Series, Initial Class | MFS
Mid Cap Value Portfolio, Initial Class | MFS
Research Series, Initial Class | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | - | $ | 2,101 | $ | - | $ | 24,567 | $ | - | $ | 770 | $ | - | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | - | 2,101 | - | 24,567 | - | 770 | - | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (534 | ) | (28,997 | ) | (2,149 | ) | (65,757 | ) | (83,754 | ) | (5,116 | ) | (2,744 | ) | ||||||||||||||
| Capital gain distributions | 1 | 17,105 | 2 | 70,058 | 3,912 | 1,459 | 1 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (533 | ) | (11,892 | ) | (2,147 | ) | 4,301 | (79,842 | ) | (3,657 | ) | (2,743 | ) | |||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 425 | 39,315 | 2,635 | 270,215 | 140,217 | 8,794 | 3,076 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | (108 | ) | 27,423 | 488 | 274,516 | 60,375 | 5,137 | 333 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | (108 | ) | $ | 29,524 | $ | 488 | $ | 299,083 | $ | 60,375 | $ | 5,907 | $ | 333 | |||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
42
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| MFS
Total Return Bond Series, Initial Class | MFS
Value Series, Initial Class | Neuberger
Berman AMT Mid Cap Growth Portfolio, Class I | Neuberger
Berman AMT Sustainable Equity Portfolio, Class I | PIMCO
Commodity RealReturn Strategy Portfolio, Admin Class | PIMCO
Global Bond Opportunities Portfolio (Unhedged), Admin Class | PIMCO
High Yield Portfolio, Admin Class | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 89,400 | $ | 29,696 | $ | - | $ | 662 | $ | 10,872 | $ | 41,592 | $ | 74,593 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 89,400 | 29,696 | - | 662 | 10,872 | 41,592 | 74,593 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (10,922 | ) | (106,506 | ) | (12 | ) | 865 | (971 | ) | (69,198 | ) | (21,603 | ) | |||||||||||||||
| Capital gain distributions | - | 124,820 | - | 3,124 | - | 20,725 | - | |||||||||||||||||||||
| Net realized gain (loss) on investments | (10,922 | ) | 18,314 | (12 | ) | 3,989 | (971 | ) | (48,473 | ) | (21,603 | ) | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 122,339 | 58,370 | 1,946 | 38,860 | (15,323 | ) | 96,464 | 95,196 | ||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 111,417 | 76,684 | 1,934 | 42,849 | (16,294 | ) | 47,991 | 73,593 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 200,817 | $ | 106,380 | $ | 1,934 | $ | 43,511 | $ | (5,422 | ) | $ | 89,583 | $ | 148,186 | |||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
43
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| PIMCO
Income Portfolio, Institutional Class | PIMCO
Low Duration Portfolio, Admin Class | PIMCO
Real Return Portfolio, Admin Class | PIMCO
Total Return Portfolio, Admin Class | Pioneer
Real Estate Shares VCT Portfolio, Class I | Putnam
VT Focused International Equity Fund, Class IA | Putnam
VT Global Asset Allocation Fund, Class IA | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 1,356 | $ | 145,898 | $ | 28,499 | $ | 276,269 | $ | 822 | $ | 91 | $ | - | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 1,356 | 145,898 | 28,499 | 276,269 | 822 | 91 | - | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (196 | ) | (125,799 | ) | (18,727 | ) | (151,769 | ) | (72,278 | ) | (72,515 | ) | (354 | ) | ||||||||||||||
| Capital gain distributions | - | - | - | - | 9,950 | - | - | |||||||||||||||||||||
| Net realized gain (loss) on investments | (196 | ) | (125,799 | ) | (18,727 | ) | (151,769 | ) | (62,328 | ) | (72,515 | ) | (354 | ) | ||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 583 | 163,583 | 24,978 | 314,098 | 59,931 | 84,913 | 532 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 387 | 37,784 | 6,251 | 162,329 | (2,397 | ) | 12,398 | 178 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 1,743 | $ | 183,682 | $ | 34,750 | $ | 438,598 | $ | (1,575 | ) | $ | 12,489 | $ | 178 | |||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
44
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam
VT High Yield Fund, Class IA | Putnam
VT Income Fund, Class IB | Putnam
VT International Value Fund, Class IA | Putnam
VT Large Cap Growth Fund, Class IA | Putnam
VT Large Cap Value Fund, Class IA | Putnam
VT Research Fund, Class IA | Putnam
VT Small Cap Value Fund, Class IA | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | 4,711 | $ | 12,233 | $ | 15,297 | $ | - | $ | 37,671 | $ | - | $ | 16 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | 4,711 | 12,233 | 15,297 | - | 37,671 | - | 16 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (3,381 | ) | (830 | ) | (10,613 | ) | 14,920 | (80,266 | ) | (115,244 | ) | 52 | ||||||||||||||||
| Capital gain distributions | - | - | - | 4,071 | 94,922 | - | 441 | |||||||||||||||||||||
| Net realized gain (loss) on investments | (3,381 | ) | (830 | ) | (10,613 | ) | 18,991 | 14,656 | (115,244 | ) | 493 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 8,881 | (2,325 | ) | 168,361 | 97,811 | 206,911 | 147,980 | 197 | ||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 5,500 | (3,155 | ) | 157,748 | 116,802 | 221,567 | 32,736 | 690 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 10,211 | $ | 9,078 | $ | 173,045 | $ | 116,802 | $ | 259,238 | $ | 32,736 | $ | 706 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
45
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam
VT Sustainable Future Fund, Class IA | Royce
Capital Fund Small Cap Portfolio, Service Class | T.
Rowe Price Blue Chip Growth Portfolio, Class II | VanEck
VIP Emerging Markets Fund, Initial Class | VanEck
VIP Global Resources Fund, Class I | Vanguard
VIF Global Bond Index Portfolio | Vanguard
VIF Total Bond Market Index Portfolio | ||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | - | $ | 503 | $ | - | $ | 1,510 | $ | 40,127 | $ | 14,446 | $ | 41,217 | ||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | - | 503 | - | 1,510 | 40,127 | 14,446 | 41,217 | |||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (13,300 | ) | 53 | (209,016 | ) | (369 | ) | 40,778 | (19,830 | ) | (17,494 | ) | ||||||||||||||||
| Capital gain distributions | - | 6,594 | - | - | - | 1,258 | - | |||||||||||||||||||||
| Net realized gain (loss) on investments | (13,300 | ) | 6,647 | (209,016 | ) | (369 | ) | 40,778 | (18,572 | ) | (17,494 | ) | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 75,642 | 9,760 | 1,283,290 | 2,789 | (120,297 | ) | 51,280 | 115,527 | ||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 62,342 | 16,407 | 1,074,274 | 2,420 | (79,519 | ) | 32,708 | 98,033 | ||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 62,342 | $ | 16,910 | $ | 1,074,274 | $ | 3,930 | $ | (39,392 | ) | $ | 47,154 | $ | 139,250 | |||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
46
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Victory
RS Small Cap Growth Equity VIP Series, Class I | ||||||||||||||||||||||||||||
| INVESTMENT INCOME: | ||||||||||||||||||||||||||||
| Dividend income | $ | - | ||||||||||||||||||||||||||
| TOTAL INVESTMENT INCOME (LOSS) | (1 | ) | ||||||||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
| Net realized gain (loss) on redemption of investments | (1 | ) | ||||||||||||||||||||||||||
| Capital gain distributions | - | |||||||||||||||||||||||||||
| Net realized gain (loss) on investments | (1 | ) | ||||||||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 5 | |||||||||||||||||||||||||||
| Net realized and unrealized gain (loss) on investments | 4 | |||||||||||||||||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 3 | ||||||||||||||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Concluded)
See accompanying notes to financial statements.
47
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Alger
Small Cap Growth Portfolio, Class I-2 | American
Century Investments VP Capital Appreciation Fund, Class I | American
Century Investments VP Inflation Protection Fund, Class II | American
Century Investments VP International Fund, Class I | American
Century Investments VP Mid Cap Value Fund, Class I | American
Century Investments VP Ultra Fund, Class I | American
Century Investments VP Value Fund, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | - | $ | - | $ | 116,383 | $ | 613 | $ | 39,497 | $ | - | $ | 23,042 | ||||||||||||||
| Net realized gain (loss) on investments | (40,245 | ) | (711 | ) | (85,384 | ) | (858 | ) | 154,598 | (70,679 | ) | 79,460 | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 105,088 | 86,997 | 62,171 | 5,874 | (103,105 | ) | 93,133 | (17,788 | ) | |||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 64,843 | 86,286 | 93,170 | 5,629 | 90,990 | 22,454 | 84,714 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | - | - | - | 178,079 | - | - | |||||||||||||||||||||
| Policy maintenance charges | (4,442 | ) | (7,079 | ) | (55,761 | ) | (579 | ) | (26,995 | ) | (1,280 | ) | (13,117 | ) | ||||||||||||||
| Policy owners' benefits | - | (2,232 | ) | (853,612 | ) | - | (5,049 | ) | (188,274 | ) | (57,207 | ) | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (8,570 | ) | 4 | 933,377 | (565 | ) | 24,596 | 1 | 23,409 | |||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (13,012 | ) | (9,307 | ) | 24,004 | (1,144 | ) | 170,631 | (189,553 | ) | (46,915 | ) | ||||||||||||||||
| Total increase (decrease) in net assets | 51,831 | 76,979 | 117,174 | 4,485 | 261,621 | (167,099 | ) | 37,799 | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 389,563 | 422,378 | 3,548,030 | 43,337 | 1,526,224 | 167,122 | 937,414 | |||||||||||||||||||||
| End of period | $ | 441,394 | $ | 499,357 | $ | 3,665,204 | $ | 47,822 | $ | 1,787,845 | $ | 23 | $ | 975,213 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
48
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| American Funds IS Global Small Capitalization Fund, Class 2 | American Funds IS Growth Fund, Class 2 | American Funds IS Growth-Income Fund, Class 2 | American Funds IS International Fund, Class 2 | American Funds IS New World Fund, Class 2 | BlackRock 60/40 Target Allocation ETF V.I. Fund, Class I | BlackRock Global Allocation V.I. Fund, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 235 | $ | 11,745 | $ | 4 | $ | 22,449 | $ | 20,676 | $ | - | $ | 58,878 | ||||||||||||||
| Net realized gain (loss) on investments | (40,294 | ) | 253,153 | 18 | (104,199 | ) | 5,813 | - | (117,893 | ) | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 51,401 | 791,684 | 50 | 324,177 | 184,864 | 3 | 375,531 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 11,342 | 1,056,582 | 72 | 242,427 | 211,353 | 3 | 316,516 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 36,570 | - | - | 162,915 | 49,985 | - | 280,953 | |||||||||||||||||||||
| Policy maintenance charges | (1,979 | ) | (41,662 | ) | (25 | ) | (31,913 | ) | (16,420 | ) | (2 | ) | (52,610 | ) | ||||||||||||||
| Policy owners' benefits | (51,735 | ) | (129,193 | ) | - | (77,498 | ) | (22,279 | ) | - | (221,579 | ) | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 53,915 | (273,682 | ) | - | (52,371 | ) | (54,871 | ) | 1 | (68,380 | ) | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 36,771 | (444,537 | ) | (25 | ) | 1,133 | (43,585 | ) | (1 | ) | (61,616 | ) | ||||||||||||||||
| Total increase (decrease) in net assets | 48,113 | 612,045 | 47 | 243,560 | 167,768 | 2 | 254,900 | |||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 56,372 | 2,896,145 | 290 | 1,547,581 | 1,373,871 | 20 | 2,503,155 | |||||||||||||||||||||
| End of period | $ | 104,485 | $ | 3,508,190 | $ | 337 | $ | 1,791,141 | $ | 1,541,639 | $ | 22 | $ | 2,758,055 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
49
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| BlackRock High Yield V.I., Class I | BNY Mellon Stock Index Fund, Initial Shares | ClearBridge Variable Mid Cap Portfolio, Class I | ClearBridge Variable Small Cap Growth Portfolio, Class I | Columbia VP Small Cap Value Fund, Class 1 | Davis Financial Portfolio | Davis Value Portfolio | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 43,914 | $ | 402,677 | $ | 127 | $ | - | $ | 955 | $ | 8,105 | $ | 2,011 | ||||||||||||||
| Net realized gain (loss) on investments | (36,739 | ) | 1,852,626 | (1,925 | ) | (12,868 | ) | 4,210 | 6,646 | 14,878 | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 73,691 | 4,226,754 | 11,416 | 55,734 | 21,314 | 32,504 | 24,191 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 80,866 | 6,482,057 | 9,618 | 42,866 | 26,479 | 47,255 | 41,080 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 56,191 | 899,984 | 13,335 | 80,870 | - | 68,748 | - | |||||||||||||||||||||
| Policy maintenance charges | (12,310 | ) | (325,880 | ) | (1,752 | ) | (7,955 | ) | (1,709 | ) | (4,039 | ) | (2,559 | ) | ||||||||||||||
| Policy owners' benefits | (20,568 | ) | (304,196 | ) | - | (89 | ) | - | - | - | ||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (205,659 | ) | (62,434 | ) | (35,085 | ) | 53,846 | 6,756 | (30,941 | ) | (1 | ) | ||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (182,346 | ) | 207,474 | (23,502 | ) | 126,672 | 5,047 | 33,768 | (2,560 | ) | ||||||||||||||||||
| Total increase (decrease) in net assets | (101,480 | ) | 6,689,531 | (13,884 | ) | 169,538 | 31,526 | 81,023 | 38,520 | |||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 692,868 | 24,574,953 | 112,207 | 408,515 | 116,359 | 321,428 | 127,135 | |||||||||||||||||||||
| End of period | $ | 591,388 | $ | 31,264,484 | $ | 98,323 | $ | 578,053 | $ | 147,885 | $ | 402,451 | $ | 165,655 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
50
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Delaware
VIP International Series, Standard Class | Delaware
VIP Small Cap Value Series, Service Class | Dimensional
VIT Inflation Protected Securities Portfolio, Institutional | DWS
Core Equity VIP, Class A | DWS
High Income VIP, Class A | DWS
Small Cap Index VIP, Class A | DWS
Small Mid Cap Value VIP, Class A | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 2,726 | $ | 3,414 | $ | 2,025 | $ | - | $ | 15,268 | $ | 94,290 | $ | 16,332 | ||||||||||||||
| Net realized gain (loss) on investments | (1,468 | ) | (16,429 | ) | (13,820 | ) | 1 | (4,505 | ) | 49,159 | 59,056 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 15,591 | 59,561 | 15,094 | 4 | 21,952 | 1,178,642 | 132,412 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 16,849 | 46,546 | 3,299 | 5 | 32,715 | 1,322,091 | 207,800 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 98,629 | 81,120 | - | - | 123,840 | 156,847 | 6,826 | |||||||||||||||||||||
| Policy maintenance charges | (4,455 | ) | (7,858 | ) | (1,412 | ) | (2 | ) | (6,113 | ) | (110,740 | ) | (15,908 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | (6,652 | ) | (65,531 | ) | - | |||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 99,234 | (40,106 | ) | (105,038 | ) | 1 | (5,699 | ) | 307,763 | (6,037 | ) | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 193,408 | 33,156 | (106,450 | ) | (1 | ) | 105,376 | 288,339 | (15,119 | ) | ||||||||||||||||||
| Total increase (decrease) in net assets | 210,257 | 79,702 | (103,151 | ) | 4 | 138,091 | 1,610,430 | 192,681 | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 59,537 | 522,378 | 157,107 | 20 | 230,525 | 7,629,153 | 1,334,783 | |||||||||||||||||||||
| End of period | $ | 269,794 | $ | 602,080 | $ | 53,956 | $ | 24 | $ | 368,616 | $ | 9,239,583 | $ | 1,527,464 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
51
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Eaton
Vance VT Floating-Rate Income, Initial Class | Empower Aggressive Profile Fund, Investor Class | Empower
Ariel Mid Cap Value Fund, Investor Class | Empower
Bond Index Fund, Investor Class | Empower Conservative Profile Fund, Investor Class | Empower
Core Bond Fund, Investor Class | Empower
Emerging Markets Equity Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 124,681 | $ | 12,592 | $ | 3,160 | $ | 75,523 | $ | 14,549 | $ | 2,031 | $ | 863 | ||||||||||||||
| Net realized gain (loss) on investments | (10,450 | ) | (66,697 | ) | (10,558 | ) | (298,010 | ) | (65,264 | ) | (2,551 | ) | 25 | |||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 46,927 | 121,471 | 37,357 | 429,902 | 82,810 | 6,171 | 2,780 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 161,158 | 67,366 | 29,959 | 207,415 | 32,095 | 5,651 | 3,668 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 147,922 | 15,968 | - | 153,210 | 52,241 | 7,505 | 19,225 | |||||||||||||||||||||
| Policy maintenance charges | (28,766 | ) | (7,642 | ) | (2,541 | ) | (40,142 | ) | (17,303 | ) | (856 | ) | (858 | ) | ||||||||||||||
| Policy owners' benefits | (54,799 | ) | (200,877 | ) | - | (44,151 | ) | (746,099 | ) | (1,553 | ) | - | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (40,836 | ) | (4,715 | ) | (10,348 | ) | 360,761 | 22,129 | (38,830 | ) | (82,827 | ) | ||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 23,521 | (197,266 | ) | (12,889 | ) | 429,678 | (689,032 | ) | (33,734 | ) | (64,460 | ) | ||||||||||||||||
| Total increase (decrease) in net assets | 184,679 | (129,900 | ) | 17,070 | 637,093 | (656,937 | ) | (28,083 | ) | (60,792 | ) | |||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 1,382,602 | 555,952 | 178,267 | 3,453,324 | 1,134,192 | 122,505 | 60,808 | |||||||||||||||||||||
| End of period | $ | 1,567,281 | $ | 426,052 | $ | 195,337 | $ | 4,090,417 | $ | 477,255 | $ | 94,422 | $ | 16 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
52
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
Global Bond Fund, Investor Class | Empower
Government Money Market Fund, Investor Class | Empower
Inflation- Protected Securities Fund, Investor Class | Empower International Index Fund, Investor Class | Empower International Value Fund, Investor Class | Empower
Large Cap Growth Fund, Investor Class | Empower
Large Cap Value Fund, Investor II Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 7,494 | $ | 1,412,969 | $ | 1 | $ | 119,655 | $ | 61,811 | $ | 694 | $ | 28,038 | ||||||||||||||
| Net realized gain (loss) on investments | (140,633 | ) | - | - | 102,161 | 155,577 | 44,161 | 165,450 | ||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 181,028 | - | - | 584,162 | 779,425 | 158,584 | 115,466 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 47,889 | 1,412,969 | 1 | 805,978 | 996,813 | 203,439 | 308,954 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 10,169 | 1,269,461 | - | 218,008 | 11,627 | 118,581 | 5,308 | |||||||||||||||||||||
| Policy maintenance charges | (10,548 | ) | (518,405 | ) | (2 | ) | (67,342 | ) | (67,371 | ) | (6,971 | ) | (28,298 | ) | ||||||||||||||
| Policy owners' benefits | (8,047 | ) | (4,371,401 | ) | - | (54,017 | ) | (276,051 | ) | (7,551 | ) | - | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (453,300 | ) | 1,172,043 | - | (30,973 | ) | (2,657,863 | ) | 67,920 | (27,082 | ) | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (461,726 | ) | (2,448,302 | ) | (2 | ) | 65,676 | (2,989,658 | ) | 171,979 | (50,072 | ) | ||||||||||||||||
| Total increase (decrease) in net assets | (413,837 | ) | (1,035,333 | ) | (1 | ) | 871,654 | (1,992,845 | ) | 375,418 | 258,882 | |||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 1,385,910 | 32,781,210 | 20 | 4,531,218 | 6,403,030 | 428,143 | 2,438,111 | |||||||||||||||||||||
| End of period | $ | 972,073 | $ | 31,745,877 | $ | 19 | $ | 5,402,872 | $ | 4,410,185 | $ | 803,561 | $ | 2,696,993 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
53
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
Lifetime 2015 Fund, Investor Class | Empower
Lifetime 2020 Fund, Investor Class | Empower
Lifetime 2025 Fund, Investor Class | Empower
Lifetime 2030 Fund, Investor Class | Empower
Lifetime 2035 Fund, Investor Class | Empower
Lifetime 2040 Fund, Investor Class | Empower
Lifetime 2045 Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 17,538 | $ | 16,884 | $ | 177,923 | $ | 89,037 | $ | 51,993 | $ | 44,481 | $ | 16,405 | ||||||||||||||
| Net realized gain (loss) on investments | 2,636 | (1,236 | ) | 12,507 | (20,461 | ) | 39,080 | 22,893 | (13,793 | ) | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 38,080 | 49,823 | 671,901 | 335,769 | 242,192 | 203,970 | 145,484 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 58,254 | 65,471 | 862,331 | 404,345 | 333,265 | 271,344 | 148,096 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 31,110 | 23,850 | 557,867 | 557,272 | 160,088 | 97,497 | 106,294 | |||||||||||||||||||||
| Policy maintenance charges | (9,434 | ) | (14,031 | ) | (75,166 | ) | (34,695 | ) | (54,042 | ) | (19,487 | ) | (12,103 | ) | ||||||||||||||
| Policy owners' benefits | (184 | ) | (17,002 | ) | (69,075 | ) | (16,535 | ) | (19,832 | ) | (138,459 | ) | (86,041 | ) | ||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (28,347 | ) | (46,754 | ) | (940,934 | ) | (112,270 | ) | 172,028 | 81,709 | (8,806 | ) | ||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (6,855 | ) | (53,937 | ) | (527,308 | ) | 393,772 | 258,242 | 21,260 | (656 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | 51,399 | 11,534 | 335,023 | 798,117 | 591,507 | 292,604 | 147,440 | |||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 565,736 | 640,187 | 7,624,081 | 2,839,355 | 2,168,690 | 1,709,807 | 874,382 | |||||||||||||||||||||
| End of period | $ | 617,135 | $ | 651,721 | $ | 7,959,104 | $ | 3,637,472 | $ | 2,760,197 | $ | 2,002,411 | $ | 1,021,822 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
54
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
Lifetime 2050 Fund, Investor Class | Empower
Lifetime 2055 Fund, Investor Class | Empower
Lifetime 2060 Fund, Investor Class | Empower Mid Cap Value Fund, Investor Class | Empower Moderate Profile Fund, Investor Class | Empower Moderately Aggressive Profile Fund, Investor Class | Empower Moderately Conservative Profile Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 8,826 | $ | 6,593 | $ | 24 | $ | 2,093 | $ | 7,495 | $ | 2,571 | $ | 88,650 | ||||||||||||||
| Net realized gain (loss) on investments | (5,685 | ) | (42,503 | ) | 18 | (17,930 | ) | (8,503 | ) | (4,341 | ) | 34,293 | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 64,079 | 113,025 | 69 | 71,509 | 24,480 | 16,328 | 134,085 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 67,220 | 77,115 | 111 | 55,672 | 23,472 | 14,558 | 257,028 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 7,011 | 50,482 | 251 | 71,130 | - | 3,786 | 632,364 | |||||||||||||||||||||
| Policy maintenance charges | (6,784 | ) | (6,828 | ) | (7 | ) | (5,648 | ) | (3,084 | ) | (1,527 | ) | (38,533 | ) | ||||||||||||||
| Policy owners' benefits | (119,647 | ) | (13,206 | ) | - | (2,168 | ) | (2,318 | ) | - | (25,188 | ) | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (15,172 | ) | (91,670 | ) | 823 | (42,315 | ) | 67,205 | 19,298 | (119,993 | ) | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (134,592 | ) | (61,222 | ) | 1,067 | 20,999 | 61,803 | 21,557 | 448,650 | |||||||||||||||||||
| Total increase (decrease) in net assets | (67,372 | ) | 15,893 | 1,178 | 76,671 | 85,275 | 36,115 | 705,678 | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 463,910 | 556,445 | 20 | 391,762 | 158,539 | 96,152 | 2,517,740 | |||||||||||||||||||||
| End of period | $ | 396,538 | $ | 572,338 | $ | 1,198 | $ | 468,433 | $ | 243,814 | $ | 132,267 | $ | 3,223,418 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
55
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Multi-Sector Bond Fund, Investor Class | Empower Real Estate Index Fund, Investor Class | Empower S&P Mid Cap 400 Index Fund, Investor Class | Empower S&P Small Cap 600 Index Fund, Investor Class | Empower Short Duration Bond Fund, Investor Class | Empower Small Cap Growth Fund, Investor Class | Empower Small Cap Value Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 30,192 | $ | 30,815 | $ | 44,280 | $ | 5,410 | $ | 77,120 | $ | - | $ | 493 | ||||||||||||||
| Net realized gain (loss) on investments | (4,442 | ) | 21,294 | 523,288 | (92,183 | ) | (19,393 | ) | (1 | ) | 65,942 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 72,658 | 157,522 | 842,164 | 230,267 | 124,904 | 4 | 112,753 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 98,408 | 209,631 | 1,409,732 | 143,494 | 182,631 | 3 | 179,188 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | 179,973 | 285,691 | 172,230 | 36,847 | - | - | |||||||||||||||||||||
| Policy maintenance charges | (7,485 | ) | (28,101 | ) | (107,335 | ) | (12,221 | ) | (33,994 | ) | (2 | ) | (11,753 | ) | ||||||||||||||
| Policy owners' benefits | (34,291 | ) | (49,059 | ) | (83,786 | ) | - | - | - | (22,432 | ) | |||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 1,317,242 | (81,841 | ) | (237,334 | ) | (79,656 | ) | (193,229 | ) | - | (71,197 | ) | ||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 1,275,466 | 20,972 | (142,764 | ) | 80,353 | (190,376 | ) | (2 | ) | (105,382 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | 1,373,874 | 230,603 | 1,266,968 | 223,847 | (7,745 | ) | 1 | 73,806 | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 235,646 | 1,550,931 | 9,109,722 | 865,638 | 3,384,043 | 19 | 1,029,525 | |||||||||||||||||||||
| End of period | $ | 1,609,520 | $ | 1,781,534 | $ | 10,376,690 | $ | 1,089,485 | $ | 3,376,298 | $ | 20 | $ | 1,103,331 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
56
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower
T. Rowe Price Mid Cap Growth Fund, Investor Class | Empower
U.S. Government Securities Fund, Investor Class | Federated
Hermes High Income Bond Fund II | Federated
Hermes Kaufmann Fund II, Primary Shares | Fidelity
VIP Contrafund Portfolio, Service Class 2 | Fidelity
VIP Emerging Markets Portfolio, Service Class 2 | Fidelity
VIP Growth Portfolio, Service Class 2 | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | - | $ | 15,640 | $ | 9,257 | $ | - | $ | 4,339 | $ | 34,363 | $ | 1 | ||||||||||||||
| Net realized gain (loss) on investments | 125,355 | (14,825 | ) | (34,666 | ) | (22,986 | ) | 83,409 | (122,699 | ) | 1,010 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 291,537 | 26,675 | 29,054 | 55,795 | 366,444 | 240,392 | 10,488 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 416,892 | 27,490 | 3,645 | 32,809 | 454,192 | 152,056 | 11,499 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 57,036 | - | - | - | - | 196,667 | - | |||||||||||||||||||||
| Policy maintenance charges | (30,318 | ) | (7,616 | ) | (1,113 | ) | (2,227 | ) | (23,099 | ) | (34,755 | ) | (1,384 | ) | ||||||||||||||
| Policy owners' benefits | (88,353 | ) | (2,521 | ) | (156,721 | ) | - | (200 | ) | (104,271 | ) | - | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 29,486 | (10,822 | ) | (2 | ) | 97,264 | 55,832 | (44,098 | ) | (4,782 | ) | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (32,149 | ) | (20,959 | ) | (157,836 | ) | 95,037 | 32,533 | 13,543 | (6,166 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | 384,743 | 6,531 | (154,191 | ) | 127,846 | 486,725 | 165,599 | 5,333 | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 2,052,270 | 598,855 | 154,212 | 161,889 | 1,327,763 | 1,611,505 | 34,257 | |||||||||||||||||||||
| End of period | $ | 2,437,013 | $ | 605,386 | $ | 21 | $ | 289,735 | $ | 1,814,488 | $ | 1,777,104 | $ | 39,590 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
57
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Fidelity
VIP Index 500 Portfolio, Initial Class | Fidelity
VIP Investment Grade Bond Portfolio, Service Class 2 | Fidelity
VIP Mid Cap Portfolio, Service Class 2 | Goldman
Sachs VIT Mid Cap Value Fund, Institutional Shares | Goldman
Sachs VIT Multi-Strategy Alternatives Portfolio, Service Shares | Invesco
Global Real Estate Fund, Series I | Invesco
V.I. Core Equity Fund, Series I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 105,997 | $ | 4,575 | $ | 1,019 | $ | 201 | $ | - | $ | 16,421 | $ | 125 | ||||||||||||||
| Net realized gain (loss) on investments | (20,813 | ) | (415 | ) | 17,277 | (1,514 | ) | (197 | ) | (10,847 | ) | (12 | ) | |||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 1,497,873 | 6,361 | 22,331 | 3,663 | 100 | 95,092 | 3,535 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 1,583,057 | 10,521 | 40,627 | 2,350 | (97 | ) | 100,666 | 3,648 | ||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 590,002 | - | 18,248 | - | - | - | - | |||||||||||||||||||||
| Policy maintenance charges | (128,533 | ) | (2,272 | ) | (2,805 | ) | (1,142 | ) | (82 | ) | (11,420 | ) | (220 | ) | ||||||||||||||
| Policy owners' benefits | (226,666 | ) | - | (14,924 | ) | (22,212 | ) | (5,462 | ) | - | - | |||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 601,390 | 10,026 | (68,802 | ) | (47,116 | ) | 96 | 47,171 | (1,793 | ) | ||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 836,193 | 7,754 | (68,283 | ) | (70,470 | ) | (5,448 | ) | 35,751 | (2,013 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | 2,419,250 | 18,275 | (27,656 | ) | (68,120 | ) | (5,545 | ) | 136,417 | 1,635 | ||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 5,637,805 | 172,667 | 307,591 | 89,032 | 5,545 | 1,002,184 | 16,307 | |||||||||||||||||||||
| End of period | $ | 8,057,055 | $ | 190,942 | $ | 279,935 | $ | 20,912 | $ | - | $ | 1,138,601 | $ | 17,942 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
58
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Invesco
V.I. EQV International Equity Fund, Series I | Invesco
V.I. Health Care Fund, Series I | Invesco V.I. Main Street Mid Cap Fund | Invesco
V.I. Main Street Small Cap Fund | Janus
Aspen Series Janus Henderson Flexible Bond Portfolio | Janus
Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | Janus
Henderson Balanced Fund, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 5,410 | $ | - | $ | - | $ | 6,768 | $ | 91,338 | $ | 1,141 | $ | 61,504 | ||||||||||||||
| Net realized gain (loss) on investments | (41,641 | ) | (11,611 | ) | - | (48,464 | ) | (300,876 | ) | 321 | 137,987 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 490,151 | 11,435 | - | 135,429 | 329,126 | 6,191 | 210,654 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 453,920 | (176 | ) | - | 93,733 | 119,588 | 7,653 | 410,145 | ||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | - | - | 132,247 | - | - | 140,923 | |||||||||||||||||||||
| Policy maintenance charges | (32,128 | ) | (739 | ) | - | (10,866 | ) | (39,746 | ) | (1,325 | ) | (42,499 | ) | |||||||||||||||
| Policy owners' benefits | (90,391 | ) | - | - | - | (459,846 | ) | - | (1,574 | ) | ||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (76,033 | ) | 75,196 | - | (95,821 | ) | (323,474 | ) | (1 | ) | (283,875 | ) | ||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (198,552 | ) | 74,457 | - | 25,560 | (823,066 | ) | (1,326 | ) | (187,025 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | 255,368 | 74,281 | - | 119,293 | (703,478 | ) | 6,327 | 223,120 | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 2,537,106 | 38,630 | 1 | 515,203 | 2,429,826 | 70,883 | 2,786,750 | |||||||||||||||||||||
| End of period | $ | 2,792,474 | $ | 112,911 | $ | 1 | $ | 634,496 | $ | 1,726,348 | $ | 77,210 | $ | 3,009,870 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
59
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Janus
Henderson Enterprise Fund, Class I | Janus
Henderson Forty Fund, Class I | Janus
Henderson Global Research Fund, Class I | Janus
Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | Lord
Abbett Series Fund Developing Growth Portfolio | Lord
Abbett Series Fund Total Return Portfolio | LVIP
JPMorgan Small Cap Core Fund, Standard Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 828 | $ | 3,399 | $ | 2,653 | $ | - | $ | - | $ | 2,585 | $ | - | ||||||||||||||
| Net realized gain (loss) on investments | (106,225 | ) | 30,654 | 9,363 | (127,159 | ) | (8,496 | ) | (1,452 | ) | (1 | ) | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 187,676 | 510,084 | 39,101 | 1,061,173 | 61,319 | 2,547 | 3 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 82,279 | 544,137 | 51,117 | 934,014 | 52,823 | 3,680 | 2 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 2,274 | 30,602 | - | 192,204 | - | 1,833 | - | |||||||||||||||||||||
| Policy maintenance charges | (9,163 | ) | (20,820 | ) | (2,675 | ) | (28,193 | ) | (2,257 | ) | (660 | ) | (2 | ) | ||||||||||||||
| Policy owners' benefits | (308,455 | ) | - | - | (1,664 | ) | (32,758 | ) | (1,586 | ) | - | |||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 174,904 | 128,651 | 254,024 | (218,656 | ) | 218,462 | 4,182 | - | ||||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (140,440 | ) | 138,433 | 251,349 | (56,309 | ) | 183,447 | 3,769 | (2 | ) | ||||||||||||||||||
| Total increase (decrease) in net assets | (58,161 | ) | 682,570 | 302,466 | 877,705 | 236,270 | 7,449 | - | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 602,453 | 1,262,028 | 123,976 | 1,698,495 | 125,691 | 53,950 | 20 | |||||||||||||||||||||
| End of period | $ | 544,292 | $ | 1,944,598 | $ | 426,442 | $ | 2,576,200 | $ | 361,961 | $ | 61,399 | $ | 20 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
60
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| LVIP
JPMorgan U.S. Equity Fund, Standard Class | MFS
Blended Research Small Cap Equity Portfolio, Initial Class | MFS
Global Real Estate Portfolio, Initial Class | MFS
Growth Series, Initial Class | MFS
International Growth Portfolio, Initial Class | MFS
Mid Cap Growth Series, Initial Class | MFS
Mid Cap Value Portfolio, Initial Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | - | $ | - | $ | 2,101 | $ | - | $ | 24,567 | $ | - | $ | 770 | ||||||||||||||
| Net realized gain (loss) on investments | 1 | (533 | ) | (11,892 | ) | (2,147 | ) | 4,301 | (79,842 | ) | (3,657 | ) | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 4 | 425 | 39,315 | 2,635 | 270,215 | 140,217 | 8,794 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 5 | (108 | ) | 29,524 | 488 | 299,083 | 60,375 | 5,907 | ||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | - | 60,736 | - | 177,255 | 36,270 | 2,256 | |||||||||||||||||||||
| Policy maintenance charges | (2 | ) | (134 | ) | (3,545 | ) | (124 | ) | (37,117 | ) | (3,240 | ) | (671 | ) | ||||||||||||||
| Policy owners' benefits | - | (8,428 | ) | (26,284 | ) | (8,296 | ) | (72,349 | ) | - | (36,885 | ) | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | - | - | 31,202 | 1 | 13,616 | (238,436 | ) | 42,571 | ||||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (2 | ) | (8,562 | ) | 62,109 | (8,419 | ) | 81,405 | (205,406 | ) | 7,271 | |||||||||||||||||
| Total increase (decrease) in net assets | 3 | (8,670 | ) | 91,633 | (7,931 | ) | 380,488 | (145,031 | ) | 13,178 | ||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 20 | 8,692 | 228,291 | 7,954 | 2,008,907 | 464,939 | 60,957 | |||||||||||||||||||||
| End of period | $ | 23 | $ | 22 | $ | 319,924 | $ | 23 | $ | 2,389,395 | $ | 319,908 | $ | 74,135 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
61
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| MFS
Research Series, Initial Class | MFS
Total Return Bond Series, Initial Class | MFS
Value Series, Initial Class | Neuberger
Berman AMT Mid Cap Growth Portfolio, Class I | Neuberger
Berman AMT Mid Cap Intrinsic Value Portfolio, Class I | Neuberger
Berman AMT Sustainable Equity Portfolio, Class I | PIMCO
Commodity RealReturn Strategy Portfolio, Admin Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | - | $ | 89,400 | $ | 29,696 | $ | - | $ | - | $ | 662 | $ | 10,872 | ||||||||||||||
| Net realized gain (loss) on investments | (2,743 | ) | (10,922 | ) | 18,314 | (12 | ) | - | 3,989 | (971 | ) | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 3,076 | 122,339 | 58,370 | 1,946 | - | 38,860 | (15,323 | ) | ||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 333 | 200,817 | 106,380 | 1,934 | - | 43,511 | (5,422 | ) | ||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | 219 | 93,256 | - | - | - | 15,308 | |||||||||||||||||||||
| Policy maintenance charges | (536 | ) | (70,924 | ) | (19,666 | ) | (145 | ) | - | (3,137 | ) | (932 | ) | |||||||||||||||
| Policy owners' benefits | (35,433 | ) | - | (30,271 | ) | - | - | (11,325 | ) | (2,119 | ) | |||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | - | 31,442 | 107,693 | (790 | ) | - | 156,557 | 1 | ||||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (35,969 | ) | (39,263 | ) | 151,012 | (935 | ) | - | 142,095 | 12,258 | ||||||||||||||||||
| Total increase (decrease) in net assets | (35,636 | ) | 161,554 | 257,392 | 999 | - | 185,606 | 6,836 | ||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 35,658 | 2,748,621 | 1,228,352 | 10,885 | 1 | 75,790 | 72,703 | |||||||||||||||||||||
| End of period | $ | 22 | $ | 2,910,175 | $ | 1,485,744 | $ | 11,884 | $ | 1 | $ | 261,396 | $ | 79,539 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
62
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| PIMCO
Global Bond Opportunities Portfolio (Unhedged), Admin Class | PIMCO
High Yield Portfolio, Admin Class | PIMCO
Income Portfolio, Institutional Class | PIMCO
Low Duration Portfolio, Admin Class | PIMCO
Real Return Portfolio, Admin Class | PIMCO
Total Return Portfolio, Admin Class | Pioneer
Real Estate Shares VCT Portfolio, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 41,592 | $ | 74,593 | $ | 1,356 | $ | 145,898 | $ | 28,499 | $ | 276,269 | $ | 822 | ||||||||||||||
| Net realized gain (loss) on investments | (48,473 | ) | (21,603 | ) | (196 | ) | (125,799 | ) | (18,727 | ) | (151,769 | ) | (62,328 | ) | ||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 96,464 | 95,196 | 583 | 163,583 | 24,978 | 314,098 | 59,931 | |||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 89,583 | 148,186 | 1,743 | 183,682 | 34,750 | 438,598 | (1,575 | ) | ||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 197,085 | 120,477 | - | 56,191 | 56,611 | 348,771 | 14,144 | |||||||||||||||||||||
| Policy maintenance charges | (36,010 | ) | (19,661 | ) | (305 | ) | (90,910 | ) | (15,105 | ) | (152,313 | ) | (777 | ) | ||||||||||||||
| Policy owners' benefits | (68,917 | ) | (20,452 | ) | - | (21,248 | ) | (19,361 | ) | (113,811 | ) | (4,520 | ) | |||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (45,920 | ) | 195,057 | 30,712 | (982,633 | ) | 114,653 | 517,305 | (146,635 | ) | ||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 46,238 | 275,421 | 30,407 | (1,038,600 | ) | 136,798 | 599,952 | (137,788 | ) | |||||||||||||||||||
| Total increase (decrease) in net assets | 135,821 | 423,607 | 32,150 | (854,918 | ) | 171,548 | 1,038,550 | (139,363 | ) | |||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 1,743,324 | 978,514 | - | 4,423,081 | 897,635 | 7,134,378 | 139,363 | |||||||||||||||||||||
| End of period | $ | 1,879,145 | $ | 1,402,121 | $ | 32,150 | $ | 3,568,163 | $ | 1,069,183 | $ | 8,172,928 | $ | - | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
63
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam
VT Focused International Equity Fund, Class IA | Putnam
VT Global Asset Allocation Fund, Class IA | Putnam
VT High Yield Fund, Class IA | Putnam
VT Income Fund, Class IB | Putnam
VT International Value Fund, Class IA | Putnam
VT Large Cap Growth Fund, Class IA | Putnam
VT Large Cap Value Fund, Class IA | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 91 | $ | - | $ | 4,711 | $ | 12,233 | $ | 15,297 | $ | - | $ | 37,671 | ||||||||||||||
| Net realized gain (loss) on investments | (72,515 | ) | (354 | ) | (3,381 | ) | (830 | ) | (10,613 | ) | 18,991 | 14,656 | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 84,913 | 532 | 8,881 | (2,325 | ) | 168,361 | 97,811 | 206,911 | ||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 12,489 | 178 | 10,211 | 9,078 | 173,045 | 116,802 | 259,238 | |||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | - | 3,703 | 17,441 | 15,792 | 2,858 | 127,871 | |||||||||||||||||||||
| Policy maintenance charges | (1,166 | ) | (99 | ) | (910 | ) | (2,076 | ) | (11,484 | ) | (4,438 | ) | (22,531 | ) | ||||||||||||||
| Policy owners' benefits | (142,790 | ) | (6,536 | ) | (1,398 | ) | - | - | (2,717 | ) | (46,465 | ) | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | - | - | (15,164 | ) | 143,962 | 137,819 | 41,745 | 82,124 | ||||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (143,956 | ) | (6,635 | ) | (13,769 | ) | 159,327 | 142,127 | 37,448 | 140,999 | ||||||||||||||||||
| Total increase (decrease) in net assets | (131,467 | ) | (6,457 | ) | (3,558 | ) | 168,405 | 315,172 | 154,250 | 400,237 | ||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 142,027 | 6,479 | 93,273 | 65,557 | 840,073 | 240,183 | 1,558,078 | |||||||||||||||||||||
| End of period | $ | 10,560 | $ | 22 | $ | 89,715 | $ | 233,962 | $ | 1,155,245 | $ | 394,433 | $ | 1,958,315 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
64
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam
VT Research Fund, Class IA | Putnam
VT Small Cap Value Fund, Class IA | Putnam
VT Sustainable Future Fund, Class IA | Royce
Capital Fund Small Cap Portfolio, Service Class | T.
Rowe Price Blue Chip Growth Portfolio, Class II | VanEck
VIP Emerging Markets Fund, Initial Class | VanEck
VIP Global Resources Fund, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | - | $ | 16 | $ | - | $ | 503 | $ | - | $ | 1,510 | $ | 40,127 | ||||||||||||||
| Net realized gain (loss) on investments | (115,244 | ) | 493 | (13,300 | ) | 6,647 | (209,016 | ) | (369 | ) | 40,778 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 147,980 | 197 | 75,642 | 9,760 | 1,283,290 | 2,789 | (120,297 | ) | ||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 32,736 | 706 | 62,342 | 16,910 | 1,074,274 | 3,930 | (39,392 | ) | ||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | - | 19,832 | - | 260,452 | - | 102,568 | |||||||||||||||||||||
| Policy maintenance charges | (4,614 | ) | (90 | ) | (2,129 | ) | (1,771 | ) | (39,709 | ) | (826 | ) | (16,288 | ) | ||||||||||||||
| Policy owners' benefits | (654,663 | ) | (3,310 | ) | - | - | (71,559 | ) | - | - | ||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 1 | 554 | (15,574 | ) | - | 42,545 | - | 136,604 | ||||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (659,276 | ) | (2,846 | ) | 2,129 | (1,771 | ) | 191,729 | (826 | ) | 222,884 | |||||||||||||||||
| Total increase (decrease) in net assets | (626,540 | ) | (2,140 | ) | 64,471 | 15,139 | 1,266,003 | 3,104 | 183,492 | |||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 626,564 | 5,993 | 202,276 | 67,421 | 2,032,409 | 40,703 | 1,340,057 | |||||||||||||||||||||
| End of period | $ | 24 | $ | 3,853 | $ | 266,747 | $ | 82,560 | $ | 3,298,412 | $ | 43,807 | $ | 1,523,549 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
65
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Vanguard
VIF Global Bond Index Portfolio | Vanguard
VIF Total Bond Market Index Portfolio | Victory
RS Small Cap Growth Equity VIP Series, Class I | ||||||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income (loss) | $ | 14,446 | $ | 41,217 | $ | (1 | ) | |||||||||||||||||||||
| Net realized gain (loss) on investments | (18,572 | ) | (17,494 | ) | (1 | ) | ||||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 51,280 | 115,527 | 5 | |||||||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 47,154 | 139,250 | 3 | |||||||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 84,286 | 84,286 | - | |||||||||||||||||||||||||
| Policy maintenance charges | (15,429 | ) | (30,615 | ) | (2 | ) | ||||||||||||||||||||||
| Policy owners' benefits | (28,746 | ) | (28,634 | ) | - | |||||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (17,388 | ) | 961,798 | 1 | ||||||||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 22,723 | 986,835 | (1 | ) | ||||||||||||||||||||||||
| Total increase (decrease) in net assets | 69,877 | 1,126,085 | 2 | |||||||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 729,468 | 1,643,356 | 17 | |||||||||||||||||||||||||
| End of period | $ | 799,345 | $ | 2,769,441 | $ | 19 | ||||||||||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
66
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Alger
Small Cap Growth Portfolio, Class I-2 | American
Century Investments VP Capital Appreciation Fund, Class I | American
Century Investments VP Inflation Protection Fund, Class II | American
Century Investments VP International Fund, Class I | American
Century Investments VP Mid Cap Value Fund, Class I | American
Century Investments VP Ultra Fund, Class I | American
Century Investments VP Value Fund, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | - | $ | - | $ | 179,799 | $ | 629 | $ | 36,645 | $ | - | $ | 22,928 | ||||||||||||||
| Net realized gain (loss) on investments | 93,583 | 56,356 | 17,463 | 6,684 | 353,743 | 18,902 | 310,834 | |||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (307,956 | ) | (208,534 | ) | (694,948 | ) | (21,037 | ) | (409,163 | ) | (101,325 | ) | (301,177 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (214,373 | ) | (152,178 | ) | (497,686 | ) | (13,724 | ) | (18,775 | ) | (82,423 | ) | 32,585 | |||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | 47,012 | - | - | 47,311 | 12 | 159,188 | |||||||||||||||||||||
| Policy maintenance charges | (4,339 | ) | (6,872 | ) | (52,948 | ) | (644 | ) | (28,044 | ) | (5,075 | ) | (15,619 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | - | - | (669,849 | ) | ||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (241,220 | ) | 2,059 | 418,015 | (12,940 | ) | (163,458 | ) | 13,952 | (112,923 | ) | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (245,559 | ) | 42,199 | 365,067 | (13,584 | ) | (144,191 | ) | 8,889 | (639,203 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | (459,932 | ) | (109,979 | ) | (132,619 | ) | (27,308 | ) | (162,966 | ) | (73,534 | ) | (606,618 | ) | ||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 849,496 | 532,357 | 3,680,649 | 70,645 | 1,689,190 | 240,658 | 1,544,031 | |||||||||||||||||||||
| End of period | $ | 389,563 | $ | 422,378 | $ | 3,548,030 | $ | 43,337 | $ | 1,526,224 | $ | 167,122 | $ | 937,414 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
67
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| American Funds IS Global Small Capitalization Fund, Class 2 | American Growth
Fund, Class 2 | American Funds IS Growth-Income Fund, Class 2 | American International Class 2 | American Funds IS New World Fund, Class 2 | BlackRock
60/40 Class I | BlackRock Allocation Fund, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | - | $ | 10,309 | $ | 4 | $ | 28,493 | $ | 19,079 | $ | - | $ | - | ||||||||||||||
| Net realized gain (loss) on investments | 20,050 | 571,858 | 34 | 120,628 | 136,395 | - | (51,063 | ) | ||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (42,704 | ) | (1,857,720 | ) | (98 | ) | (630,074 | ) | (549,776 | ) | (2 | ) | (421,876 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (22,654 | ) | (1,275,553 | ) | (60 | ) | (480,953 | ) | (394,302 | ) | (2 | ) | (472,939 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 576 | 70,512 | 12 | 251,307 | 69,221 | 12 | 455,262 | |||||||||||||||||||||
| Policy maintenance charges | (1,576 | ) | (40,257 | ) | (36 | ) | (31,046 | ) | (16,405 | ) | (1 | ) | (51,087 | ) | ||||||||||||||
| Policy owners' benefits | - | (166,843 | ) | - | (698,883 | ) | (14,676 | ) | - | (369,577 | ) | |||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 15,545 | (59,969 | ) | - | (86,202 | ) | 8,029 | - | (41,229 | ) | ||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 14,545 | (196,557 | ) | (24 | ) | (564,824 | ) | 46,169 | 11 | (6,631 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | (8,109 | ) | (1,472,110 | ) | (84 | ) | (1,045,777 | ) | (348,133 | ) | 9 | (479,570 | ) | |||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 64,480 | 4,368,255 | 374 | 2,593,358 | 1,722,004 | 12 | 2,982,724 | |||||||||||||||||||||
| End of period | $ | 56,372 | $ | 2,896,145 | $ | 290 | $ | 1,547,581 | $ | 1,373,871 | $ | 20 | $ | 2,503,155 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
68
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
BlackRock Yield
V.I., | BNY
Mellon Index | ClearBridge Variable Mid Cap Portfolio, Class I | ClearBridge Variable Small Cap Growth Portfolio, Class I | Columbia VP Small Cap Value Fund, Class 1 | Davis Financial Portfolio | Davis
Value Portfolio | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 36,507 | $ | 347,842 | $ | 414 | $ | - | $ | 140 | $ | 6,163 | $ | 1,773 | ||||||||||||||
| Net realized gain (loss) on investments | (4,717 | ) | 4,028,148 | 7,437 | (195,659 | ) | 90,597 | 4,604 | 30,784 | |||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (105,086 | ) | (9,829,538 | ) | (43,888 | ) | 35,094 | (107,185 | ) | (40,866 | ) | (65,054 | ) | |||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (73,296 | ) | (5,453,548 | ) | (36,037 | ) | (160,565 | ) | (16,448 | ) | (30,099 | ) | (32,497 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 91,062 | 1,121,875 | 28,975 | 33,072 | - | 68,760 | - | |||||||||||||||||||||
| Policy maintenance charges | (11,811 | ) | (319,398 | ) | (1,956 | ) | (7,874 | ) | (1,952 | ) | (4,075 | ) | (2,364 | ) | ||||||||||||||
| Policy owners' benefits | (74,817 | ) | (1,572,493 | ) | - | - | - | - | - | |||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 206,371 | (557,791 | ) | (1,874 | ) | 51,795 | (145,977 | ) | 11,379 | - | ||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 210,805 | (1,327,807 | ) | 25,145 | 76,993 | (147,929 | ) | 76,064 | (2,364 | ) | ||||||||||||||||||
| Total increase (decrease) in net assets | 137,509 | (6,781,355 | ) | (10,892 | ) | (83,572 | ) | (164,377 | ) | 45,965 | (34,861 | ) | ||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 555,359 | 31,356,308 | 123,100 | 492,087 | 280,737 | 275,463 | 161,996 | |||||||||||||||||||||
| End of period | $ | 692,868 | $ | 24,574,953 | $ | 112,207 | $ | 408,515 | $ | 116,359 | $ | 321,428 | $ | 127,135 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
69
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Delaware VIP International Series, Standard Class | Delaware VIP Small Cap Value Series, Service Class | Dimensional
VIT Inflation Protected Securities Portfolio, Institutional | DWS
Core Equity VIP, Class A | DWS
CROCI U.S. VIP, Class A | DWS
High Income VIP, Class A | DWS
Small Cap Index VIP, Class A | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 784 | $ | 2,729 | $ | 13,212 | $ | - | $ | - | $ | 11,178 | $ | 76,097 | ||||||||||||||
| Net realized gain (loss) on investments | (3,089 | ) | 94,995 | (7,337 | ) | 1 | - | (695 | ) | 1,417,295 | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (19,741 | ) | (194,560 | ) | (15,604 | ) | (3 | ) | - | (30,789 | ) | (3,590,144 | ) | |||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (22,046 | ) | (96,836 | ) | (9,729 | ) | (2 | ) | - | (20,306 | ) | (2,096,752 | ) | |||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 4,927 | 86,853 | - | 12 | - | 16,000 | 212,324 | |||||||||||||||||||||
| Policy maintenance charges | (2,173 | ) | (9,619 | ) | (1,144 | ) | (1 | ) | - | (5,434 | ) | (119,688 | ) | |||||||||||||||
| Policy owners' benefits | (116,441 | ) | (172,434 | ) | - | - | - | - | (481,514 | ) | ||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 3,793 | 14,574 | 167,979 | - | (1 | ) | 7,646 | (211,030 | ) | |||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (109,894 | ) | (80,626 | ) | 166,835 | 11 | (1 | ) | 18,212 | (599,908 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | (131,940 | ) | (177,462 | ) | 157,106 | 9 | (1 | ) | (2,094 | ) | (2,696,660 | ) | ||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 191,478 | 699,839 | - | 12 | 1 | 232,619 | 10,325,813 | |||||||||||||||||||||
| End of period | $ | 59,537 | $ | 522,378 | $ | 157,107 | $ | 20 | $ | - | $ | 230,525 | $ | 7,629,153 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
70
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| DWS
Small Mid Cap Value VIP, Class A | Eaton
Vance VT Floating-Rate Income, Initial Class | Empower Aggressive Profile Fund, Investor Class | Empower Ariel Mid Cap Value Fund, Investor Class | Empower Bond Index Fund, Investor Class | Empower Conservative Profile Fund, Investor Class | Empower Core Bond Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 11,757 | $ | 63,310 | $ | 9,026 | $ | 9,293 | $ | 39,598 | $ | 15,971 | $ | 6,538 | ||||||||||||||
| Net realized gain (loss) on investments | 25,055 | (4,480 | ) | 30,045 | 43,761 | (53,239 | ) | 29,665 | (300,646 | ) | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (282,514 | ) | (98,605 | ) | (168,265 | ) | (79,886 | ) | (514,297 | ) | (116,988 | ) | (50,892 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (245,702 | ) | (39,775 | ) | (129,194 | ) | (26,832 | ) | (527,938 | ) | (71,352 | ) | (345,000 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 8,979 | 235,082 | 16,070 | 12 | 64,524 | 13,276 | 12,270 | |||||||||||||||||||||
| Policy maintenance charges | (15,290 | ) | (26,242 | ) | (12,260 | ) | (2,759 | ) | (39,337 | ) | (32,839 | ) | (12,387 | ) | ||||||||||||||
| Policy owners' benefits | - | (191,489 | ) | - | - | - | (50,714 | ) | - | |||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 23,114 | 27 | 8,000 | (11,149 | ) | 163,184 | 488,694 | (2,276,843 | ) | |||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 16,803 | 17,378 | 11,810 | (13,896 | ) | 188,371 | 418,417 | (2,276,960 | ) | |||||||||||||||||||
| Total increase (decrease) in net assets | (228,899 | ) | (22,397 | ) | (117,384 | ) | (40,728 | ) | (339,567 | ) | 347,065 | (2,621,960 | ) | |||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 1,563,682 | 1,405,000 | 673,336 | 218,996 | 3,792,892 | 787,127 | 2,744,464 | |||||||||||||||||||||
| End of period | $ | 1,334,783 | $ | 1,382,602 | $ | 555,952 | $ | 178,267 | $ | 3,453,324 | $ | 1,134,192 | $ | 122,505 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
71
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Emerging Markets Equity Fund, Investor Class | Empower Global Bond Fund, Investor Class | Empower Government Money Market Fund, Investor Class | Empower Inflation- Protected Securities Fund, Investor Class | Empower International Index Fund, Investor Class | Empower International Value Fund, Investor Class | Empower Large Cap Growth Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 835 | $ | 11,625 | $ | 389,273 | $ | 1 | $ | 79,995 | $ | 79,820 | $ | 1,647 | ||||||||||||||
| Net realized gain (loss) on investments | (41,204 | ) | (34,890 | ) | - | (13,098 | ) | (25,904 | ) | 82,972 | (83,102 | ) | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | 4,046 | (225,017 | ) | - | (14,674 | ) | (820,026 | ) | (1,311,369 | ) | (23,442 | ) | ||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (36,323 | ) | (248,282 | ) | 389,273 | (27,771 | ) | (765,935 | ) | (1,148,577 | ) | (104,897 | ) | |||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 37,778 | 68,613 | 1,726,878 | 12 | 343,201 | 62,383 | 118,920 | |||||||||||||||||||||
| Policy maintenance charges | (2,130 | ) | (15,823 | ) | (492,304 | ) | (3,836 | ) | (62,817 | ) | (82,524 | ) | (5,763 | ) | ||||||||||||||
| Policy owners' benefits | - | - | (954,749 | ) | (837,715 | ) | (187,752 | ) | - | - | ||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (102,615 | ) | 195,759 | 11,488,820 | - | 99,662 | (31,729 | ) | 78,795 | |||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (66,967 | ) | 248,549 | 11,768,645 | (841,539 | ) | 192,294 | (51,870 | ) | 191,952 | ||||||||||||||||||
| Total increase (decrease) in net assets | (103,290 | ) | 267 | 12,157,918 | (869,310 | ) | (573,641 | ) | (1,200,447 | ) | 87,055 | |||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 164,099 | 1,385,642 | 20,623,292 | 869,330 | 5,104,860 | 7,603,476 | 341,087 | |||||||||||||||||||||
| End of period | $ | 60,808 | $ | 1,385,910 | $ | 32,781,210 | $ | 20 | $ | 4,531,218 | $ | 6,403,030 | $ | 428,143 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
72
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Large Cap Value Fund, Investor II Class | Empower Lifetime 2015 Fund, Investor Class | Empower Lifetime 2020 Fund, Investor Class | Empower Lifetime 2025 Fund, Investor Class | Empower Lifetime 2030 Fund, Investor Class | Empower Lifetime 2035 Fund, Investor Class | Empower Lifetime 2040 Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 42,781 | $ | 11,261 | $ | 13,503 | $ | 128,288 | $ | 54,269 | $ | 32,877 | $ | 29,828 | ||||||||||||||
| Net realized gain (loss) on investments | 214,386 | (48,281 | ) | 36,512 | 423,594 | 142,264 | 126,677 | 132,713 | ||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (354,303 | ) | (139,598 | ) | (143,659 | ) | (1,470,455 | ) | (645,015 | ) | (498,223 | ) | (458,888 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (97,136 | ) | (176,618 | ) | (93,644 | ) | (918,573 | ) | (448,482 | ) | (338,669 | ) | (296,347 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 6,776 | 98,621 | 22,608 | 771,551 | 529,982 | 330,257 | 92,031 | |||||||||||||||||||||
| Policy maintenance charges | (28,615 | ) | (10,675 | ) | (13,896 | ) | (69,097 | ) | (32,559 | ) | (46,730 | ) | (18,617 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | - | - | - | |||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (247,254 | ) | (549,983 | ) | 2,728 | 2,115,896 | (151,928 | ) | 149,498 | 207,449 | ||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (269,093 | ) | (462,037 | ) | 11,440 | 2,818,350 | 345,495 | 433,025 | 280,863 | |||||||||||||||||||
| Total increase (decrease) in net assets | (366,229 | ) | (638,655 | ) | (82,204 | ) | 1,899,777 | (102,987 | ) | 94,356 | (15,484 | ) | ||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 2,804,341 | 1,204,392 | 722,392 | 5,724,302 | 2,942,342 | 2,074,333 | 1,725,292 | |||||||||||||||||||||
| End of period | $ | 2,438,111 | $ | 565,736 | $ | 640,187 | $ | 7,624,081 | $ | 2,839,355 | $ | 2,168,690 | $ | 1,709,807 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
73
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Lifetime 2045 Fund, Investor Class | Empower Lifetime 2050 Fund, Investor Class | Empower Lifetime 2055 Fund, Investor Class | Empower Lifetime 2060 Fund, Investor Class | Empower Mid Cap Value Fund, Investor Class | Empower Moderate Profile Fund, Investor Class | Empower Moderately Aggressive Profile Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 12,671 | $ | 7,691 | $ | 5,381 | $ | - | $ | 2,130 | $ | 3,370 | $ | 1,519 | ||||||||||||||
| Net realized gain (loss) on investments | 46,218 | 32,593 | 32,983 | 1 | 4,028 | (14,652 | ) | (14,697 | ) | |||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (257,064 | ) | (123,044 | ) | (114,837 | ) | (3 | ) | (51,633 | ) | (29,744 | ) | (16,063 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (198,175 | ) | (82,760 | ) | (76,473 | ) | (2 | ) | (45,475 | ) | (41,026 | ) | (29,241 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 131,696 | 6,532 | 12,467 | 12 | 98,784 | 12 | 460 | |||||||||||||||||||||
| Policy maintenance charges | (20,295 | ) | (6,221 | ) | (6,975 | ) | (1 | ) | (5,545 | ) | (3,423 | ) | (2,159 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | - | - | - | |||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (96,944 | ) | 59,012 | 192,688 | - | (867 | ) | 110,475 | 96,823 | |||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 14,457 | 59,323 | 198,180 | 11 | 92,372 | 107,064 | 95,124 | |||||||||||||||||||||
| Total increase (decrease) in net assets | (183,718 | ) | (23,437 | ) | 121,707 | 9 | 46,897 | 66,038 | 65,883 | |||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 1,058,100 | 487,347 | 434,738 | 12 | 344,866 | 92,501 | 30,269 | |||||||||||||||||||||
| End of period | $ | 874,382 | $ | 463,910 | $ | 556,445 | $ | 20 | $ | 391,762 | $ | 158,539 | $ | 96,152 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
74
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Moderately Conservative Profile Fund, Investor Class | Empower Multi- Sector Bond Fund, Investor Class | Empower Real Estate Index Fund, Investor Class | Empower
S&P Mid Cap 400 Index Fund, Investor Class | Empower S&P Small Cap 600 Index Fund, Investor Class | Empower Short Duration Bond Fund, Investor Class | Empower Small Cap Growth Fund, Investor Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 35,788 | $ | 5,805 | $ | 30,379 | $ | 40,922 | $ | 4,467 | $ | 57,870 | $ | - | ||||||||||||||
| Net realized gain (loss) on investments | 115,296 | (795 | ) | 116,484 | 531,519 | (30,006 | ) | (141,612 | ) | - | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (398,471 | ) | (36,990 | ) | (709,499 | ) | (2,124,244 | ) | (132,659 | ) | (209,399 | ) | (3 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (247,387 | ) | (31,980 | ) | (562,636 | ) | (1,551,803 | ) | (158,198 | ) | (293,141 | ) | (3 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 615,055 | 12 | 282,158 | 354,614 | 141,738 | 74,771 | 12 | |||||||||||||||||||||
| Policy maintenance charges | (36,861 | ) | (4,339 | ) | (28,608 | ) | (115,891 | ) | (11,946 | ) | (51,159 | ) | (1 | ) | ||||||||||||||
| Policy owners' benefits | - | - | (186,472 | ) | - | - | - | - | ||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 92,979 | (8,774 | ) | 147,270 | (1,199,296 | ) | 8,017 | (2,949,502 | ) | - | ||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 671,173 | (13,101 | ) | 214,348 | (960,573 | ) | 137,809 | (2,925,890 | ) | 11 | ||||||||||||||||||
| Total increase (decrease) in net assets | 423,786 | (45,081 | ) | (348,288 | ) | (2,512,376 | ) | (20,389 | ) | (3,219,031 | ) | 8 | ||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 2,093,956 | 280,727 | 1,899,218 | 11,622,097 | 886,028 | 6,603,074 | 12 | |||||||||||||||||||||
| End of period | $ | 2,517,740 | $ | 235,646 | $ | 1,550,931 | $ | 9,109,722 | $ | 865,638 | $ | 3,384,043 | $ | 19 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
75
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Empower Small Cap Value Fund, Investor Class | Empower
T. Rowe Price Mid Cap Growth Fund, Investor Class | Empower U.S. Government Securities Fund, Investor Class | Federated Hermes High Income Bond Fund II | Federated Hermes Kaufmann Fund II, Primary Shares | Fidelity
VIP Contrafund Portfolio, Service Class 2 | Fidelity
VIP Emerging Markets Portfolio, Service Class 2 | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 616 | $ | 468 | $ | 12,149 | $ | 8,950 | $ | - | $ | 3,871 | $ | 25,625 | ||||||||||||||
| Net realized gain (loss) on investments | 51,443 | 240,125 | (318,595 | ) | (700 | ) | 17,953 | 117,194 | (87,661 | ) | ||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (173,892 | ) | (833,626 | ) | (59,623 | ) | (29,134 | ) | (81,169 | ) | (574,706 | ) | (329,694 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (121,833 | ) | (593,033 | ) | (366,069 | ) | (20,884 | ) | (63,216 | ) | (453,641 | ) | (391,730 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 13,276 | 103,876 | 12 | 12 | - | 117,500 | 318,687 | |||||||||||||||||||||
| Policy maintenance charges | (12,055 | ) | (28,519 | ) | (21,872 | ) | (4,193 | ) | (2,454 | ) | (20,365 | ) | (31,982 | ) | ||||||||||||||
| Policy owners' benefits | - | - | (626,228 | ) | - | - | - | (259,146 | ) | |||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (64,723 | ) | (289,857 | ) | (2,246,186 | ) | 21,451 | 26,749 | (81,858 | ) | 5,529 | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (63,502 | ) | (214,500 | ) | (2,894,274 | ) | 17,270 | 24,295 | 15,277 | 33,088 | ||||||||||||||||||
| Total increase (decrease) in net assets | (185,335 | ) | (807,533 | ) | (3,260,343 | ) | (3,614 | ) | (38,921 | ) | (438,364 | ) | (358,642 | ) | ||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 1,214,861 | 2,859,804 | 3,859,197 | 157,828 | 200,811 | 1,766,128 | 1,970,148 | |||||||||||||||||||||
| End of period | $ | 1,029,525 | $ | 2,052,270 | $ | 598,855 | $ | 154,212 | $ | 161,889 | $ | 1,327,763 | $ | 1,611,505 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
76
| COLI VUL-2 SERIES ACCOUNT | |||||||||||||||
| STATEMENTS OF CHANGES IN NET ASSETS | |||||||||||||||
| FOR THE YEAR ENDED DECEMBER 31, 2022 | |||||||||||||||
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Fidelity
VIP Growth Portfolio, Service Class 2 | Fidelity
VIP Index 500 Portfolio, Initial Class | Fidelity
VIP Investment Grade Bond Portfolio, Service Class 2 | Fidelity
VIP Mid Cap Portfolio, Service Class 2 | Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares | Goldman Sachs VIT Multi-Strategy Alternatives Portfolio, Service Shares | Invesco Global Real Estate Fund, Series I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 121 | $ | 85,532 | $ | 3,758 | $ | 880 | $ | 634 | $ | 190 | $ | 31,232 | ||||||||||||||
| Net realized gain (loss) on investments | 2,404 | (42,308 | ) | 9,053 | 37,261 | 13,900 | (48 | ) | 8,378 | |||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (13,917 | ) | (1,281,015 | ) | (41,289 | ) | (97,672 | ) | (24,099 | ) | (779 | ) | (345,182 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (11,392 | ) | (1,237,791 | ) | (28,478 | ) | (59,531 | ) | (9,565 | ) | (637 | ) | (305,572 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | 956,025 | - | 28,427 | - | - | 12 | |||||||||||||||||||||
| Policy maintenance charges | (1,293 | ) | (105,849 | ) | (2,595 | ) | (3,240 | ) | (1,330 | ) | (417 | ) | (11,351 | ) | ||||||||||||||
| Policy owners' benefits | - | (776,547 | ) | - | - | - | - | (122,277 | ) | |||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (5,816 | ) | 813,555 | (78,459 | ) | (63,996 | ) | 2,302 | (2,352 | ) | 77,397 | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (7,109 | ) | 887,184 | (81,054 | ) | (38,809 | ) | 972 | (2,769 | ) | (56,219 | ) | ||||||||||||||||
| Total increase (decrease) in net assets | (18,501 | ) | (350,607 | ) | (109,532 | ) | (98,340 | ) | (8,593 | ) | (3,406 | ) | (361,791 | ) | ||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 52,758 | 5,988,413 | 282,198 | 405,930 | 97,626 | 8,951 | 1,363,976 | |||||||||||||||||||||
| End of period | $ | 34,257 | $ | 5,637,805 | $ | 172,667 | $ | 307,591 | $ | 89,032 | $ | 5,545 | $ | 1,002,184 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
77
| COLI VUL-2 SERIES ACCOUNT | |||||||||||||||
| STATEMENTS OF CHANGES IN NET ASSETS | |||||||||||||||
| FOR THE YEAR ENDED DECEMBER 31, 2022 | |||||||||||||||
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Invesco
V.I. Core Equity Fund, Series I | Invesco
V.I. EQV International Equity Fund, Series I | Invesco
V.I. Health Care Fund, Series I | Invesco
V.I. Main Street Mid Cap Fund | Invesco
V.I. Main Street Small Cap Fund | Janus
Aspen Series Janus Henderson Flexible Bond Portfolio | Janus
Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 163 | $ | 46,963 | $ | - | $ | - | $ | 2,777 | $ | 62,927 | $ | 1,249 | ||||||||||||||
| Net realized gain (loss) on investments | 3,233 | 282,836 | 5,288 | 49,264 | 24,422 | (66,988 | ) | 225 | ||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (7,582 | ) | (908,296 | ) | (11,581 | ) | (57,192 | ) | (126,410 | ) | (395,699 | ) | (8,301 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (4,186 | ) | (578,497 | ) | (6,293 | ) | (7,928 | ) | (99,211 | ) | (399,760 | ) | (6,827 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | - | 12 | - | - | 38,777 | 12 | - | |||||||||||||||||||||
| Policy maintenance charges | (240 | ) | (31,647 | ) | (521 | ) | (464 | ) | (12,466 | ) | (44,506 | ) | (1,220 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | - | - | - | |||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (5,632 | ) | (53,863 | ) | (1,083 | ) | (506,154 | ) | 1,912 | (62,040 | ) | - | ||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (5,872 | ) | (85,498 | ) | (1,604 | ) | (506,618 | ) | 28,223 | (106,534 | ) | (1,220 | ) | |||||||||||||||
| Total increase (decrease) in net assets | (10,058 | ) | (663,995 | ) | (7,897 | ) | (514,546 | ) | (70,988 | ) | (506,294 | ) | (8,047 | ) | ||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 26,365 | 3,201,102 | 46,528 | 514,547 | 586,190 | 2,936,120 | 78,929 | |||||||||||||||||||||
| End of period | $ | 16,307 | $ | 2,537,106 | $ | 38,630 | $ | 1 | $ | 515,203 | $ | 2,429,826 | $ | 70,883 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
78
| COLI VUL-2 SERIES ACCOUNT | |||||||||||||||
| STATEMENTS OF CHANGES IN NET ASSETS | |||||||||||||||
| FOR THE YEAR ENDED DECEMBER 31, 2022 | |||||||||||||||
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Janus Henderson Balanced Fund, Class I | Janus Henderson Enterprise Fund, Class I | Janus Henderson Forty Fund, Class I | Janus Henderson Global Research Fund, Class I | Janus Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | Lord
Abbett Series Fund Developing Growth Portfolio | Lord
Abbett Series Fund Total Return Portfolio | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 35,594 | $ | 1,029 | $ | 2,761 | $ | 1,372 | $ | - | $ | - | $ | 1,913 | ||||||||||||||
| Net realized gain (loss) on investments | 167,360 | 71,798 | 220,897 | 19,678 | 399,015 | (8,940 | ) | (13,789 | ) | |||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (716,342 | ) | (181,882 | ) | (859,044 | ) | (51,451 | ) | (1,459,314 | ) | (77,240 | ) | (1,933 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (513,388 | ) | (109,055 | ) | (635,386 | ) | (30,401 | ) | (1,060,299 | ) | (86,180 | ) | (13,809 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 228,544 | 5,449 | 100,169 | - | 284,772 | - | 1,850 | |||||||||||||||||||||
| Policy maintenance charges | (40,204 | ) | (11,674 | ) | (18,962 | ) | (1,789 | ) | (27,603 | ) | (2,433 | ) | (1,416 | ) | ||||||||||||||
| Policy owners' benefits | (36,438 | ) | - | - | - | - | - | - | ||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 66,463 | (7,510 | ) | (6,448 | ) | (14,888 | ) | (487,489 | ) | (27,494 | ) | 46,883 | ||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 218,365 | (13,735 | ) | 74,759 | (16,677 | ) | (230,320 | ) | (29,927 | ) | 47,317 | |||||||||||||||||
| Total increase (decrease) in net assets | (295,023 | ) | (122,790 | ) | (560,627 | ) | (47,078 | ) | (1,290,619 | ) | (116,107 | ) | 33,508 | |||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 3,081,773 | 725,242 | 1,822,656 | 171,054 | 2,989,113 | 241,797 | 20,443 | |||||||||||||||||||||
| End of period | $ | 2,786,750 | $ | 602,453 | $ | 1,262,028 | $ | 123,976 | $ | 1,698,495 | $ | 125,691 | $ | 53,950 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
79
| COLI VUL-2 SERIES ACCOUNT | |||||||||||||||
| STATEMENTS OF CHANGES IN NET ASSETS | |||||||||||||||
| FOR THE YEAR ENDED DECEMBER 31, 2022 | |||||||||||||||
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| LVIP JPMorgan Small Cap Core Fund, Standard Class | LVIP JPMorgan U.S. Equity Fund, Standard Class | MFS Blended Research Small Cap Equity Portfolio, Initial Class | MFS
Global Real Estate Portfolio, Initial Class | MFS
Growth Series, Initial Class | MFS International Growth Portfolio, Initial Class | MFS
Mid Cap Growth Series, Initial Class | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | - | $ | - | $ | 90 | $ | 3,290 | $ | - | $ | 12,274 | $ | - | ||||||||||||||
| Net realized gain (loss) on investments | 1 | 1 | 2,726 | 9,504 | 13 | 42,379 | (168,039 | ) | ||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (4 | ) | (4 | ) | (5,387 | ) | (77,982 | ) | (6,573 | ) | (409,274 | ) | (98,719 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (3 | ) | (3 | ) | (2,571 | ) | (65,188 | ) | (6,560 | ) | (354,621 | ) | (266,758 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 12 | 12 | 12 | 60,409 | 12 | 299,469 | 216,857 | |||||||||||||||||||||
| Policy maintenance charges | (1 | ) | (2 | ) | (606 | ) | (3,567 | ) | (769 | ) | (34,418 | ) | (10,275 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | - | (184,473 | ) | - | ||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 11 | - | (2,215 | ) | 4,611 | (5,816 | ) | (22,388 | ) | (428,950 | ) | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 22 | 10 | (2,809 | ) | 61,453 | (6,573 | ) | 58,190 | (222,368 | ) | ||||||||||||||||||
| Total increase (decrease) in net assets | 19 | 7 | (5,380 | ) | (3,735 | ) | (13,133 | ) | (296,431 | ) | (489,126 | ) | ||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 1 | 12 | 14,073 | 232,026 | 21,087 | 2,305,339 | 954,065 | |||||||||||||||||||||
| End of period | $ | 20 | $ | 20 | $ | 8,692 | $ | 228,291 | $ | 7,954 | $ | 2,008,907 | $ | 464,939 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
80
| COLI VUL-2 SERIES ACCOUNT | |||||||||||||||
| STATEMENTS OF CHANGES IN NET ASSETS | |||||||||||||||
| FOR THE YEAR ENDED DECEMBER 31, 2022 | |||||||||||||||
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| MFS
Mid Cap Value Portfolio, Initial Class | MFS Research Series, Initial Class | MFS
Total Return Bond Series, Initial Class | MFS
Value Series, Initial Class | Neuberger Berman AMT Mid Cap Growth Portfolio, Class I | Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio, Class I | Neuberger Berman AMT Sustainable Equity Portfolio, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 642 | $ | 312 | $ | 80,740 | $ | 18,231 | $ | - | $ | - | $ | 305 | ||||||||||||||
| Net realized gain (loss) on investments | 3,060 | 6,420 | 27,938 | 129,031 | 3,435 | 15,025 | 9,032 | |||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (9,787 | ) | (20,117 | ) | (560,981 | ) | (264,290 | ) | (7,807 | ) | (22,777 | ) | (24,185 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (6,085 | ) | (13,385 | ) | (452,303 | ) | (117,028 | ) | (4,372 | ) | (7,752 | ) | (14,848 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 2,274 | 12 | 513 | 79,222 | - | - | 12 | |||||||||||||||||||||
| Policy maintenance charges | (1,505 | ) | (3,131 | ) | (65,015 | ) | (17,805 | ) | (159 | ) | (297 | ) | (1,604 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | - | (70,158 | ) | - | ||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 12,454 | (23,830 | ) | (157 | ) | (263,947 | ) | (2,248 | ) | - | 4,179 | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 13,223 | (26,949 | ) | (64,659 | ) | (202,530 | ) | (2,407 | ) | (70,455 | ) | 2,587 | ||||||||||||||||
| Total increase (decrease) in net assets | 7,138 | (40,334 | ) | (516,962 | ) | (319,558 | ) | (6,779 | ) | (78,207 | ) | (12,261 | ) | |||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 53,819 | 75,992 | 3,265,583 | 1,547,909 | 17,663 | 78,208 | 88,051 | |||||||||||||||||||||
| End of period | $ | 60,957 | $ | 35,658 | $ | 2,748,621 | $ | 1,228,352 | $ | 10,885 | $ | 1 | $ | 75,790 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
81
| COLI VUL-2 SERIES ACCOUNT | |||||||||||||||
| STATEMENTS OF CHANGES IN NET ASSETS | |||||||||||||||
| FOR THE YEAR ENDED DECEMBER 31, 2022 | |||||||||||||||
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| PIMCO Commodity RealReturn Strategy Portfolio, Admin Class | PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | PIMCO High Yield Portfolio, Admin Class | PIMCO
Low Duration Portfolio, Admin Class | PIMCO
Real Return Portfolio, Admin Class | PIMCO Total Return Portfolio, Admin Class | Pioneer
Real Estate Shares VCT Portfolio, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 12,787 | $ | 26,979 | $ | 49,851 | $ | 84,657 | $ | 70,026 | $ | 196,243 | $ | 4,661 | ||||||||||||||
| Net realized gain (loss) on investments | 35 | (56,400 | ) | (1,473 | ) | (313,946 | ) | 7,833 | (89,675 | ) | (39,314 | ) | ||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (8,101 | ) | (195,295 | ) | (159,713 | ) | (194,923 | ) | (211,532 | ) | (1,302,357 | ) | (71,276 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 4,721 | (224,716 | ) | (111,335 | ) | (424,212 | ) | (133,673 | ) | (1,195,789 | ) | (105,929 | ) | |||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 15,320 | 318,687 | 177,999 | 91,062 | 92,009 | 656,098 | 36,442 | |||||||||||||||||||||
| Policy maintenance charges | (984 | ) | (34,837 | ) | (16,126 | ) | (101,614 | ) | (15,567 | ) | (139,761 | ) | (5,561 | ) | ||||||||||||||
| Policy owners' benefits | - | (451,680 | ) | (74,710 | ) | (75,993 | ) | (74,753 | ) | (496,453 | ) | - | ||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 2,328 | (379 | ) | (110,864 | ) | (3,633,707 | ) | (194,853 | ) | (36,501 | ) | (90,375 | ) | |||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 16,664 | (168,209 | ) | (23,701 | ) | (3,720,252 | ) | (193,164 | ) | (16,617 | ) | (59,494 | ) | |||||||||||||||
| Total increase (decrease) in net assets | 21,385 | (392,925 | ) | (135,036 | ) | (4,144,464 | ) | (326,837 | ) | (1,212,406 | ) | (165,423 | ) | |||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 51,319 | 2,136,250 | 1,113,550 | 8,567,545 | 1,224,473 | 8,346,784 | 304,785 | |||||||||||||||||||||
| End of period | $ | 72,703 | $ | 1,743,324 | $ | 978,514 | $ | 4,423,081 | $ | 897,635 | $ | 7,134,378 | $ | 139,363 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
82
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam
VT Focused International Equity Fund, Class IA | Putnam
VT Global Asset Allocation Fund, Class IA | Putnam
VT High Yield Fund, Class IA | Putnam
VT Income Fund, Class IB | Putnam
VT International Value Fund, Class IA | Putnam
VT Large Cap Growth Fund, Class IA | Putnam
VT Large Cap Value Fund, Class IA | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 3,387 | $ | 214 | $ | 6,104 | $ | 3,645 | $ | 14,817 | $ | - | $ | 23,646 | ||||||||||||||
| Net realized gain (loss) on investments | 49,678 | 754 | (5,659 | ) | (145 | ) | (12,360 | ) | (88,857 | ) | 162,139 | |||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (91,771 | ) | (3,487 | ) | (15,203 | ) | (13,488 | ) | (57,737 | ) | (140,252 | ) | (215,166 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (38,706 | ) | (2,519 | ) | (14,758 | ) | (9,988 | ) | (55,280 | ) | (229,109 | ) | (29,381 | ) | ||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 12 | 12 | 5,391 | 5,656 | 15,847 | 6,678 | 109,445 | |||||||||||||||||||||
| Policy maintenance charges | (4,578 | ) | (633 | ) | (1,058 | ) | (696 | ) | (8,282 | ) | (7,564 | ) | (19,540 | ) | ||||||||||||||
| Policy owners' benefits | - | - | (27,622 | ) | - | - | - | (45,821 | ) | |||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | (12,982 | ) | (5,565 | ) | (3,081 | ) | 4,544 | 292,656 | (545,582 | ) | 443,461 | |||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | (17,548 | ) | (6,186 | ) | (26,370 | ) | 9,504 | 300,221 | (546,468 | ) | 487,545 | |||||||||||||||||
| Total increase (decrease) in net assets | (56,254 | ) | (8,705 | ) | (41,128 | ) | (484 | ) | 244,941 | (775,577 | ) | 458,164 | ||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 198,282 | 15,185 | 134,401 | 66,042 | 595,131 | 1,015,760 | 1,099,915 | |||||||||||||||||||||
| End of period | $ | 142,027 | $ | 6,479 | $ | 93,273 | $ | 65,557 | $ | 840,073 | $ | 240,183 | $ | 1,558,078 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
83
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Putnam
VT Research Fund, Class IA | Putnam
VT Small Cap Value Fund, Class IA | Putnam
VT Sustainable Future Fund, Class IA | Royce
Capital Fund Small Cap Portfolio, Service Class | T.
Rowe Price Blue Chip Growth Portfolio, Class II | VanEck
VIP Emerging Markets Fund, Initial Class | VanEck
VIP Global Resources Fund, Class I | ||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 5,209 | $ | 18 | $ | - | $ | 52 | $ | - | $ | 118 | $ | 21,512 | ||||||||||||||
| Net realized gain (loss) on investments | 47,557 | 864 | 47,198 | 1,145 | (865,288 | ) | 7,968 | 138,266 | ||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (172,157 | ) | (1,536 | ) | (146,500 | ) | (8,411 | ) | (603,140 | ) | (21,438 | ) | (22,434 | ) | ||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (119,391 | ) | (654 | ) | (99,302 | ) | (7,214 | ) | (1,468,428 | ) | (13,352 | ) | 137,344 | |||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 12 | 12 | 23,679 | - | 247,514 | - | 124,566 | |||||||||||||||||||||
| Policy maintenance charges | (16,715 | ) | (84 | ) | (1,879 | ) | (1,607 | ) | (42,190 | ) | (766 | ) | (16,453 | ) | ||||||||||||||
| Policy owners' benefits | - | - | - | - | - | - | - | |||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 105,066 | 1,977 | (5,551 | ) | - | (480,369 | ) | - | (286,512 | ) | ||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 88,363 | 1,905 | 16,249 | (1,607 | ) | (275,045 | ) | (766 | ) | (178,399 | ) | |||||||||||||||||
| Total increase (decrease) in net assets | (31,028 | ) | 1,251 | (83,053 | ) | (8,821 | ) | (1,743,473 | ) | (14,118 | ) | (41,055 | ) | |||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 657,592 | 4,741 | 285,328 | 76,242 | 3,775,881 | 54,822 | 1,381,113 | |||||||||||||||||||||
| End of period | $ | 626,564 | $ | 5,993 | $ | 202,276 | $ | 67,421 | $ | 2,032,409 | $ | 40,703 | $ | 1,340,057 | ||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
84
COLI VUL-2 SERIES ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
| SUBACCOUNTS | ||||||||||||||||||||||||||||
| Vanguard
VIF Global Bond Index Portfolio | Vanguard
VIF Total Bond Market Index Portfolio | Victory
RS Small Cap Growth Equity VIP Series, Class I | ||||||||||||||||||||||||||
| INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
| OPERATIONS: | ||||||||||||||||||||||||||||
| Total investment income | $ | 18,357 | $ | 33,452 | $ | - | ||||||||||||||||||||||
| Net realized gain (loss) on investments | (1,615 | ) | 3,160 | (5,876 | ) | |||||||||||||||||||||||
| Change in net unrealized appreciation (depreciation) on investments | (123,160 | ) | (252,196 | ) | 1,661 | |||||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | (106,418 | ) | (215,584 | ) | (4,215 | ) | ||||||||||||||||||||||
| POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
| Policy owners' net payments | 136,575 | 136,575 | 12 | |||||||||||||||||||||||||
| Policy maintenance charges | (14,606 | ) | (24,278 | ) | (380 | ) | ||||||||||||||||||||||
| Policy owners' benefits | (110,787 | ) | (110,715 | ) | - | |||||||||||||||||||||||
| Net transfers (to) from the Company and/or Subaccounts | 5,765 | 1,037,161 | (7,719 | ) | ||||||||||||||||||||||||
| Increase (decrease) in net assets resulting from Policy transactions | 16,947 | 1,038,743 | (8,087 | ) | ||||||||||||||||||||||||
| Total increase (decrease) in net assets | (89,471 | ) | 823,159 | (12,302 | ) | |||||||||||||||||||||||
| NET ASSETS: | ||||||||||||||||||||||||||||
| Beginning of period | 818,939 | 820,197 | 12,320 | |||||||||||||||||||||||||
| End of period | $ | 729,468 | $ | 1,643,356 | $ | 17 | ||||||||||||||||||||||
Note: Totals may not appear to foot/crossfoot due to rounding.
(Concluded)
See accompanying notes to financial statements.
85
COLI VUL-2 SERIES ACCOUNT
NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 2023
| 1. | ORGANIZATION |
Effective August 1, 2022, Great West Life & Annuity Insurance Company is now known as Empower Annuity Insurance Company of America (the Company). The COLI VUL-2 Series Account (the Separate Account), a variable life separate account of the Company, is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and exists in accordance with regulations of the Colorado Division of Insurance was established on December 30, 1998.
Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the Company’s other assets and liabilities. The portion of the Separate Account's assets applicable to the variable life policies (the “Policies”) is not chargeable with liabilities arising out of any other business the Company may conduct.
The Separate Account is a funding vehicle for individual variable life insurance Policies; it consists of a number of subaccounts (the “Subaccounts”), also commonly referred to as investment divisions or funds, each of which is treated as an individual accounting entity for financial reporting purposes. The Separate Account's value at any time is allocated among Policy owners based on the number and value of their accumulation units representing their interest in the Separate Account; all of the investible assets of the Separate Account are invested in the corresponding mutual funds.
If available under their Policy for investment, Policy owners may allocate some or all of the applicable net payments or transfer some or all of the Policy value to the Company’s guaranteed account, which is not included in these financial statements. The assets of the Company support its insurance and annuity obligations and are subject to the Company's general liabilities from business operations.
Policy owners' net payments are allocated to the Subaccounts in accordance with Policy owner instructions and are recorded as Policy owners’ net payments in the Statements of Changes in Net Assets. Such amounts are used to provide account funds to pay Policy values under the Policies.
The following is the variable life insurance product funded by the Separate Account:
Executive Benefit VUL II
For the years ended December 31, 2023 and 2022, the Separate Account was invested in up to 129 Subaccounts, as follows:
Alger Small Cap Growth Portfolio, Class I-2
American Century Investments VP Capital Appreciation Fund, Class I
American Century Investments VP Inflation Protection Fund, Class II
American Century Investments VP International Fund, Class I
American Century Investments VP Mid Cap Value Fund, Class I
American Century Investments VP Ultra Fund, Class I
American Century Investments VP Value Fund, Class I
American Funds IS Global Small Capitalization Fund, Class 2
American Funds IS Growth Fund, Class 2
American Funds IS Growth-Income Fund, Class 2
American Funds IS International Fund, Class 2
American Funds IS New World Fund, Class 2
BlackRock 60/40 Target Allocation ETF V.I. Fund, Class I
BlackRock Global Allocation V.I. Fund, Class I
BlackRock High Yield V.I., Class I
BNY Mellon Stock Index Fund, Initial Shares
86
ClearBridge Variable Mid Cap Portfolio, Class I
ClearBridge Variable Small Cap Growth Portfolio, Class I
Columbia VP Small Cap Value Fund, Class 1
Davis Financial Portfolio
Davis Value Portfolio
Delaware VIP International Series, Standard Class
Delaware VIP Small Cap Value Series, Service Class
Dimensional VIT Inflation Protected Securities Portfolio, Institutional(a)
DWS Core Equity VIP, Class A
DWS CROCI U.S. VIP, Class
DWS High Income VIP, Class A
DWS Small Cap Index VIP, Class A
DWS Small Mid Cap Value VIP, Class A
Eaton Vance VT Floating-Rate Income, Initial Class
Empower Aggressive Profile Fund, Investor Class(a)
Empower Ariel Mid Cap Value Fund, Investor Class(a)
Empower Bond Index Fund, Investor Class(a)
Empower Conservative Profile Fund, Investor Class(a)
Empower Core Bond Fund, Investor Class(a)
Empower Emerging Markets Equity Fund, Investor Class(a)
Empower Global Bond Fund, Investor Class(a)
Empower Government Money Market Fund, Investor Class(a)
Empower Inflation-Protected Securities Fund, Investor Class(a)
Empower International Index Fund, Investor Class(a)
Empower International Value Fund, Investor Class(a)
Empower Large Cap Growth Fund, Investor Class(a)
Empower Large Cap Value Fund, Investor II Class(a)
Empower Lifetime 2015 Fund, Investor Class(a)
Empower Lifetime 2020 Fund, Investor Class(a)
Empower Lifetime 2025 Fund, Investor Class(a)
Empower Lifetime 2030 Fund, Investor Class(a)
Empower Lifetime 2035 Fund, Investor Class(a)
Empower Lifetime 2040 Fund, Investor Class(a)
Empower Lifetime 2045 Fund, Investor Class(a)
Empower Lifetime 2050 Fund, Investor Class(a)
Empower Lifetime 2055 Fund, Investor Class(a)
Empower Lifetime 2060 Fund, Investor Class(a)
Empower Mid Cap Value Fund, Investor Class(a)
Empower Moderate Profile Fund, Investor Class(a)
Empower Moderately Aggressive Profile Fund, Investor Class(a)
Empower Moderately Conservative Profile Fund, Investor Class(a)
Empower Multi-Sector Bond Fund, Investor Class(a)
Empower Real Estate Index Fund, Investor Class(a)
Empower S&P Mid Cap 400 Index Fund, Investor Class(a)
Empower S&P Small Cap 600 Index Fund, Investor Class(a)
Empower Short Duration Bond Fund, Investor Class(a)
Empower Small Cap Growth Fund, Investor Class(a)
Empower Small Cap Value Fund, Investor Class(a)
Empower T. Rowe Price Mid Cap Growth Fund, Investor Class(a)
Empower U.S. Government Securities Fund, Investor Class(a)
Federated Hermes High Income Bond Fund II
Federated Hermes Kaufmann Fund II, Primary Shares
Fidelity VIP Contrafund Portfolio, Service Class 2
Fidelity VIP Emerging Markets Portfolio, Service Class 2
Fidelity VIP Growth Portfolio, Service Class 2
87
Fidelity VIP Index 500 Portfolio, Initial Class
Fidelity VIP Investment Grade Bond Portfolio, Service Class 2
Fidelity VIP Mid Cap Portfolio, Service Class 2
Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio, Service Shares
Invesco Global Real Estate Fund, Series I
Invesco V.I. Core Equity Fund, Series I
Invesco V.I. EQV International Equity Fund, Series I
Invesco V.I. Health Care Fund, Series I
Invesco V.I. Main Street Mid Cap Fund
Invesco V.I. Main Street Small Cap Fund
Janus Aspen Series Janus Henderson Flexible Bond Portfolio
Janus Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares
Janus Henderson Balanced Fund, Class I
Janus Henderson Enterprise Fund, Class I
Janus Henderson Forty Fund, Class I
Janus Henderson Global Research Fund, Class I
Janus Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares
Lord Abbett Series Fund Developing Growth Portfolio
Lord Abbett Series Fund Total Return Portfolio
LVIP JPMorgan Small Cap Core Fund, Standard Class(a)
LVIP JPMorgan U.S. Equity Fund, Standard Class(a)
MFS Blended Research Small Cap Equity Portfolio, Initial Class
MFS Global Real Estate Portfolio, Initial Class
MFS Growth Series, Initial Class
MFS International Growth Portfolio, Initial Class
MFS Mid Cap Growth Series, Initial Class
MFS Mid Cap Value Portfolio, Initial Class
MFS Research Series, Initial Class
MFS Total Return Bond Series, Initial Class
MFS Value Series, Initial Class
Neuberger Berman AMT Mid Cap Growth Portfolio, Class I
Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio, Class I
Neuberger Berman AMT Sustainable Equity Portfolio, Class I
PIMCO Commodity RealReturn Strategy Portfolio, Admin Class
PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class
PIMCO High Yield Portfolio, Admin Class
PIMCO Income Portfolio, Institutional Class(a)
PIMCO Low Duration Portfolio, Admin Class
PIMCO Real Return Portfolio, Admin Class
PIMCO Total Return Portfolio, Admin Class
Pioneer Real Estate Shares VCT Portfolio, Class I(a)
Putnam VT Focused International Equity Fund, Class IA
Putnam VT Global Asset Allocation Fund, Class IA
Putnam VT High Yield Fund, Class IA
Putnam VT Income Fund, Class IB
Putnam VT International Value Fund, Class IA
Putnam VT Large Cap Growth Fund, Class IA
Putnam VT Large Cap Value Fund, Class IA
Putnam VT Research Fund, Class IA
Putnam VT Small Cap Value Fund, Class IA
Putnam VT Sustainable Future Fund, Class IA
Royce Capital Fund Small Cap Portfolio, Service Class
T. Rowe Price Blue Chip Growth Portfolio, Class II
VanEck VIP Emerging Markets Fund, Initial Class
VanEck VIP Global Resources Fund, Class I
88
Vanguard VIF Global Bond Index Portfolio
Vanguard VIF Total Bond Market Index Portfolio
Victory RS Small Cap Growth Equity VIP Series, Class I
(a) See Subaccount Changes tables below
Subaccount
Changes:
During 2022, the following Subaccounts changed their names:
| Previous Name | New Name | Date of Change |
| Great-West Aggressive Profile Fund, Investor Class | Empower Aggressive Profile Fund, Investor Class | August 1, 2022 |
| Great-West Ariel Mid Cap Value Fund, Investor Class | Empower Ariel Mid Cap Value Fund, Investor Class | August 1, 2022 |
| Great-West Bond Index Fund, Investor Class | Empower Bond Index Fund, Investor Class | August 1, 2022 |
| Great-West Conservative Profile Fund, Investor Class | Empower Conservative Profile Fund, Investor Class | August 1, 2022 |
| Great-West Core Bond Fund, Investor Class | Empower Core Bond Fund, Investor Class | August 1, 2022 |
| Great-West Emerging Markets Equity Fund, Investor Class | Empower Emerging Markets Equity Fund, Investor Class | August 1, 2022 |
| Great-West Global Bond Fund, Investor Class | Empower Global Bond Fund, Investor Class | August 1, 2022 |
| Great-West Government Money Market Fund, Investor Class | Empower Government Money Market Fund, Investor Class | August 1, 2022 |
| Great-West Inflation-Protected Securities Fund, Investor Class | Empower Inflation-Protected Securities Fund, Investor Class | August 1, 2022 |
| Great-West International Index Fund, Investor Class | Empower International Index Fund, Investor Class | August 1, 2022 |
| Great-West International Value Fund, Investor Class | Empower International Value Fund, Investor Class | August 1, 2022 |
| Great-West Large Cap Growth Fund, Investor Class | Empower Large Cap Growth Fund, Investor Class | August 1, 2022 |
| Great-West Large Cap Value Fund, Investor II Class | Empower Large Cap Value Fund, Investor II Class | August 1, 2022 |
| Great-West Lifetime 2015 Fund, Investor Class | Empower Lifetime 2015 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2020 Fund, Investor Class | Empower Lifetime 2020 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2025 Fund, Investor Class | Empower Lifetime 2025 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2030 Fund, Investor Class | Empower Lifetime 2030 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2035 Fund, Investor Class | Empower Lifetime 2035 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2040 Fund, Investor Class | Empower Lifetime 2040 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2045 Fund, Investor Class | Empower Lifetime 2045 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2050 Fund, Investor Class | Empower Lifetime 2050 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2055 Fund, Investor Class | Empower Lifetime 2055 Fund, Investor Class | August 1, 2022 |
| Great-West Lifetime 2060 Fund, Investor Class | Empower Lifetime 2060 Fund, Investor Class | August 1, 2022 |
| Great-West Mid Cap Value Fund, Investor Class | Empower Mid Cap Value Fund, Investor Class | August 1, 2022 |
89
| Great-West Moderate Profile Fund, Investor Class | Empower Moderate Profile Fund, Investor Class | August 1, 2022 |
| Great-West Moderately Aggressive Profile Fund, Investor Class | Empower Moderately Aggressive Profile Fund, Investor Class | August 1, 2022 |
| Great-West Moderately Conservative Profile Fund, Investor Class | Empower Moderately Conservative Profile Fund, Investor Class | August 1, 2022 |
| Great-West Multi-Sector Bond Fund, Investor Class | Empower Multi-Sector Bond Fund, Investor Class | August 1, 2022 |
| Great-West Real Estate Index Fund, Investor Class | Empower Real Estate Index Fund, Investor Class | August 1, 2022 |
| Great-West S&P Mid Cap 400 Index Fund, Investor Class | Empower S&P Mid Cap 400 Index Fund, Investor Class | August 1, 2022 |
| Great-West S&P Small Cap 600 Index Fund, Investor Class | Empower S&P Small Cap 600 Index Fund, Investor Class | August 1, 2022 |
| Great-West Short Duration Bond Fund, Investor Class | Empower Short Duration Bond Fund, Investor Class | August 1, 2022 |
| Great-West Small Cap Growth Fund, Investor Class | Empower Small Cap Growth Fund, Investor Class | August 1, 2022 |
| Great-West Small Cap Value Fund, Investor Class | Empower Small Cap Value Fund, Investor Class | August 1, 2022 |
| Great-West T. Rowe Price Mid Cap Growth Fund, Investor Class | Empower T. Rowe Price Mid Cap Growth Fund, Investor Class | August 1, 2022 |
| Great-West U.S. Government Securities Fund, Investor Class | Empower U.S. Government Securities Fund, Investor Class | August 1, 2022 |
During 2022, the following Subaccounts were opened:
| Subaccount Name | Date of Commencement |
| Dimensional VIT Inflation Protected Securities Portfolio, Institutional | April 21, 2022 |
| LVIP JPMorgan Small Cap Core Fund, Standard Class | January 3, 2022 |
| LVIP JPMorgan U.S. Equity Fund, Standard Class | January 3, 2022 |
| PIMCO Income Portfolio, Institutional Class | May 2, 2022 |
During 2023, the following Subaccount was closed:
| Subaccount Name | Date of Closure |
| Pioneer Real Estate Shares VCT Portfolio, Class I | April 28, 2023 |
The Separate Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services — Investment Companies".
Certain Subaccounts that had no investments balances as of December 31, 2023 or that did not have activity during the year ended December 31, 2023 are not presented on the Statements of Assets and Liabilities as of December 31, 2023 or Statements of Operations for the year ended December 31, 2023, respectively.
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| 2. | SIGNIFICANT ACCOUNTING POLICIES |
The following is a summary of the significant accounting policies of the Separate Account.
Investment valuation
Investments are made and measured in shares and are presented net of management fees and other operating expenses incurred by the Subaccounts. The investments are valued at the net asset values of the mutual funds, which value their investment securities at fair value. Transactions with the mutual funds are recognized on the trade date.
The Separate Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Separate Account’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:
Level 1 – Unadjusted quoted prices for identical securities in active markets.
Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.
Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect the reporting entity’s own assumptions and would be based on the best information available under the circumstances.
The Separate Account determines the fair values of certain financial assets based on quoted market prices. All of the investments in the Subaccounts of the Separate Account are classified as Level 1 in the fair value hierarchy and consist of open-ended mutual funds. Participants may, without restriction, transact at the daily net asset value (“NAV”) of the mutual funds. The NAV represents the daily per share value based on the fair value of the underlying portfolio of investments of the respective Subaccounts.
Receivable from dividends
Receivable from dividends include dividends declared by the fund managers that have not yet been reinvested in accordance with the Subaccounts' designated reinvestment dates.
Receivables and payables from (to) the Policies and the fund manager
Receivables and payables from (to) the Policies and the fund manager include trading activity initiated at the Policy level from the last business day of the year that has not yet been settled with the fund manager.
Receivables and payables from (to) the Company
Receivables and payables from (to) the Company include accruals for the variance between investments and reserves applicable to the Subaccount.
Dividend income and capital gain distributions
Dividend income and capital gain distributions are recorded on the ex-dividend date and are reinvested in additional shares of the mutual funds. Ordinary dividend and capital gain distributions are recognized within net investment income and net realized gains, respectively, as recorded in the financial statements of the Subaccounts.
Net realized gains and losses
Net realized gains and losses on investments include gains and losses on redemptions of the Subaccounts’ shares (determined for each product using the first-in-first-out (FIFO) basis) and capital gain distributions from the mutual funds.
91
Net transfers (to) from the Company and/or Subaccounts
Net transfers (to) from the Company and Subaccounts include transfers between the Subaccounts of the Separate Account as well as transfers between the Separate Account and the Company.
Federal income taxes
The results of the operations of the Separate Account are included in the federal income tax return of the Company. Under the provisions of the Policies, the Company has the right to charge the Separate Account for federal income tax attributable to the Separate Account. No charge has been made against the Separate Account for such tax during the year ended December 31, 2023. Management will periodically review the application of this policy in the event of changes in tax law. Accordingly, a change may be made in future years to consider charges for any federal income taxes that would be attributable to the Policies.
Use of estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that could affect the reported amounts of assets and liabilities, as well as the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from the estimates reported in the accompanying financial statements.
Risks and uncertainties
The Separate Account provides for various investment options in any combination of Subaccounts, each of which bears exposure to the market, credit, and liquidity risks of the underlying portfolio in which it invests. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in risks in the near term could materially affect investment balances, the amounts reported in the statements of assets and liabilities, of operations and of changes in net assets. Accordingly, these financial statements should be read in conjunction with the financial statements and footnotes of the underlying Subaccounts identified in Note 1.
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| 3. | PURCHASES AND SALES OF INVESTMENTS | |||||
| The cost of purchases and proceeds from sales of investments for the year ended December 31, 2023 were as follows: | ||||||
| Subaccount | Purchases | Sales | |||||
| Alger Small Cap Growth Portfolio, Class I-2 | $ | 14,624 | $ | 27,635 | |||
| American Century Investments VP Capital Appreciation Fund, Class I | 656 | 9,309 | |||||
| American Century Investments VP Inflation Protection Fund, Class II | 967,061 | 826,674 | |||||
| American Century Investments VP International Fund, Class I | 3,452 | 3,982 | |||||
| American Century Investments VP Mid Cap Value Fund, Class I | 632,583 | 235,936 | |||||
| American Century Investments VP Ultra Fund, Class I | 14,046 | 189,553 | |||||
| American Century Investments VP Value Fund, Class I | 136,367 | 86,162 | |||||
| American Funds IS Global Small Capitalization Fund, Class 2 | 92,533 | 54,536 | |||||
| American Funds IS Growth Fund, Class 2 | 293,604 | 540,976 | |||||
| American Funds IS Growth-Income Fund, Class 2 | 20 | 25 | |||||
| American Funds IS International Fund, Class 2 | 246,951 | 223,368 | |||||
| American Funds IS New World Fund, Class 2 | 131,954 | 154,863 | |||||
| BlackRock 60/40 Target Allocation ETF V.I. Fund, Class I | 0 | * | 2 | ||||
| BlackRock Global Allocation V.I. Fund, Class I | 415,663 | 418,401 | |||||
| BlackRock High Yield V.I., Class I | 117,032 | 254,914 | |||||
| BNY Mellon Stock Index Fund, Initial Shares | 4,878,249 | 3,246,381 | |||||
| ClearBridge Variable Mid Cap Portfolio, Class I | 15,344 | 37,945 | |||||
| ClearBridge Variable Small Cap Growth Portfolio, Class I | 332,000 | 205,328 | |||||
| Columbia VP Small Cap Value Fund, Class 1 | 31,556 | 16,340 | |||||
| Davis Financial Portfolio | 93,148 | 34,979 | |||||
| Davis Value Portfolio | 18,073 | 2,559 | |||||
| Delaware VIP International Series, Standard Class | 203,009 | 6,875 | |||||
| Delaware VIP Small Cap Value Series, Service Class | 195,662 | 136,206 | |||||
| Dimensional VIT Inflation Protected Securities Portfolio, Institutional | 137,863 | 242,288 | |||||
| DWS Core Equity VIP, Class A | 1 | 2 | |||||
| DWS High Income VIP, Class A | 153,539 | 32,894 | |||||
| DWS Small Cap Index VIP, Class A | 1,188,837 | 604,072 | |||||
| DWS Small Mid Cap Value VIP, Class A | 145,125 | 89,065 | |||||
| Eaton Vance VT Floating-Rate Income, Initial Class | 317,115 | 169,248 | |||||
| Empower Aggressive Profile Fund, Investor Class | 73,781 | 247,627 | |||||
| Empower Ariel Mid Cap Value Fund, Investor Class | 135,210 | 132,191 | |||||
| Empower Bond Index Fund, Investor Class | 1,922,329 | 1,417,129 | |||||
| Empower Conservative Profile Fund, Investor Class | 493,006 | 1,160,302 | |||||
| Empower Core Bond Fund, Investor Class | 12,251 | 43,953 | |||||
| Empower Emerging Markets Equity Fund, Investor Class | 46,621 | 110,217 | |||||
| Empower Global Bond Fund, Investor Class | 133,617 | 587,849 | |||||
| Empower Government Money Market Fund, Investor Class | 12,321,081 | 12,660,240 | |||||
| Empower Inflation-Protected Securities Fund, Investor Class | 1 | 2 | |||||
| Empower International Index Fund, Investor Class | 890,387 | 597,439 | |||||
| Empower International Value Fund, Investor Class | 416,266 | 3,265,135 | |||||
| Empower Large Cap Growth Fund, Investor Class | 818,249 | 622,312 | |||||
| Empower Large Cap Value Fund, Investor II Class | 350,374 | 240,103 | |||||
| Empower Lifetime 2015 Fund, Investor Class | 66,080 | 46,824 | |||||
| Empower Lifetime 2020 Fund, Investor Class | 60,893 | 86,035 | |||||
| * The Subaccount has dollars that round to less than one. | |||||||
93
| Subaccount | Purchases | Sales | |||||
| Empower Lifetime 2025 Fund, Investor Class | $ | 1,589,401 | $ | 1,779,934 | |||
| Empower Lifetime 2030 Fund, Investor Class | 1,088,904 | 509,883 | |||||
| Empower Lifetime 2035 Fund, Investor Class | 645,012 | 268,715 | |||||
| Empower Lifetime 2040 Fund, Investor Class | 348,565 | 222,438 | |||||
| Empower Lifetime 2045 Fund, Investor Class | 365,036 | 323,856 | |||||
| Empower Lifetime 2050 Fund, Investor Class | 85,962 | 196,474 | |||||
| Empower Lifetime 2055 Fund, Investor Class | 305,885 | 346,815 | |||||
| Empower Lifetime 2060 Fund, Investor Class | 1,505 | 396 | |||||
| Empower Mid Cap Value Fund, Investor Class | 74,707 | 51,433 | |||||
| Empower Moderate Profile Fund, Investor Class | 128,110 | 56,077 | |||||
| Empower Moderately Aggressive Profile Fund, Investor Class | 69,936 | 42,823 | |||||
| Empower Moderately Conservative Profile Fund, Investor Class | 864,969 | 265,984 | |||||
| Empower Multi-Sector Bond Fund, Investor Class | 1,356,426 | 50,768 | |||||
| Empower Real Estate Index Fund, Investor Class | 411,139 | 356,285 | |||||
| Empower S&P Mid Cap 400 Index Fund, Investor Class | 2,086,351 | 1,753,552 | |||||
| Empower S&P Small Cap 600 Index Fund, Investor Class | 688,058 | 574,629 | |||||
| Empower Short Duration Bond Fund, Investor Class | 244,757 | 358,013 | |||||
| Empower Small Cap Growth Fund, Investor Class | 0 | * | 2 | ||||
| Empower Small Cap Value Fund, Investor Class | 59,303 | 139,512 | |||||
| Empower T. Rowe Price Mid Cap Growth Fund, Investor Class | 356,678 | 324,249 | |||||
| Empower U.S. Government Securities Fund, Investor Class | 225,438 | 230,758 | |||||
| Federated Hermes High Income Bond Fund II | 9,257 | 157,835 | |||||
| Federated Hermes Kaufmann Fund II, Primary Shares | 195,841 | 100,804 | |||||
| Fidelity VIP Contrafund Portfolio, Service Class 2 | 204,105 | 106,963 | |||||
| Fidelity VIP Emerging Markets Portfolio, Service Class 2 | 280,419 | 232,513 | |||||
| Fidelity VIP Growth Portfolio, Service Class 2 | 1,781 | 6,167 | |||||
| Fidelity VIP Index 500 Portfolio, Initial Class | 2,047,717 | 1,046,168 | |||||
| Fidelity VIP Investment Grade Bond Portfolio, Service Class 2 | 14,601 | 2,272 | |||||
| Fidelity VIP Mid Cap Portfolio, Service Class 2 | 43,423 | 102,971 | |||||
| Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares | 17,994 | 87,768 | |||||
| Goldman Sachs VIT Multi-Strategy Alternatives Portfolio, Service Shares | 97 | 5,546 | |||||
| Invesco Global Real Estate Fund, Series I | 112,272 | 60,100 | |||||
| Invesco V.I. Core Equity Fund, Series I | 526 | 2,011 | |||||
| Invesco V.I. EQV International Equity Fund, Series I | 170,046 | 361,163 | |||||
| Invesco V.I. Health Care Fund, Series I | 133,354 | 58,898 | |||||
| Invesco V.I. Main Street Mid Cap Fund | - | - | |||||
| Invesco V.I. Main Street Small Cap Fund | 193,225 | 160,896 | |||||
| Janus Aspen Series Janus Henderson Flexible Bond Portfolio | 592,926 | 1,324,654 | |||||
| Janus Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | 1,141 | 1,325 | |||||
| Janus Henderson Balanced Fund, Class I | 830,783 | 956,304 | |||||
| Janus Henderson Enterprise Fund, Class I | 311,917 | 415,999 | |||||
| Janus Henderson Forty Fund, Class I | 587,564 | 445,731 | |||||
| Janus Henderson Global Research Fund, Class I | 285,360 | 25,397 | |||||
| Janus Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | 287,883 | 344,191 | |||||
| Lord Abbett Series Fund Developing Growth Portfolio | 219,747 | 36,301 | |||||
| Lord Abbett Series Fund Total Return Portfolio | 93,967 | 87,613 | |||||
| LVIP JPMorgan Small Cap Core Fund, Standard Class | 0 | * | 2 | ||||
| * The Subaccount has dollars that round to less than one. | |||||||
94
| Subaccount | Purchases | Sales | |||||
| LVIP JPMorgan U.S. Equity Fund, Standard Class | $ | 1 | $ | 2 | |||
| MFS Blended Research Small Cap Equity Portfolio, Initial Class | 1 | 8,562 | |||||
| MFS Global Real Estate Portfolio, Initial Class | 151,524 | 70,210 | |||||
| MFS Growth Series, Initial Class | 2 | 8,420 | |||||
| MFS International Growth Portfolio, Initial Class | 607,292 | 431,262 | |||||
| MFS Mid Cap Growth Series, Initial Class | 292,196 | 493,691 | |||||
| MFS Mid Cap Value Portfolio, Initial Class | 101,722 | 92,223 | |||||
| MFS Research Series, Initial Class | 1 | 35,968 | |||||
| MFS Total Return Bond Series, Initial Class | 124,976 | 74,840 | |||||
| MFS Value Series, Initial Class | 1,000,355 | 694,827 | |||||
| Neuberger Berman AMT Mid Cap Growth Portfolio, Class I | 177 | 1,112 | |||||
| Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio, Class I | 0 | * | - | ||||
| Neuberger Berman AMT Sustainable Equity Portfolio, Class I | 199,330 | 53,449 | |||||
| PIMCO Commodity RealReturn Strategy Portfolio, Admin Class | 26,181 | 3,051 | |||||
| PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | 316,331 | 207,776 | |||||
| PIMCO High Yield Portfolio, Admin Class | 486,835 | 136,821 | |||||
| PIMCO Income Portfolio, Institutional Class | 47,967 | 16,204 | |||||
| PIMCO Low Duration Portfolio, Admin Class | 459,051 | 1,351,753 | |||||
| PIMCO Real Return Portfolio, Admin Class | 248,692 | 83,394 | |||||
| PIMCO Total Return Portfolio, Admin Class | 1,511,199 | 634,970 | |||||
| Pioneer Real Estate Shares VCT Portfolio, Class I | 26,717 | 153,733 | |||||
| Putnam VT Focused International Equity Fund, Class IA | 91 | 143,956 | |||||
| Putnam VT Global Asset Allocation Fund, Class IA | 0 | * | 6,635 | ||||
| Putnam VT High Yield Fund, Class IA | 8,944 | 18,003 | |||||
| Putnam VT Income Fund, Class IB | 174,591 | 3,031 | |||||
| Putnam VT International Value Fund, Class IA | 653,533 | 496,109 | |||||
| Putnam VT Large Cap Growth Fund, Class IA | 122,279 | 80,761 | |||||
| Putnam VT Large Cap Value Fund, Class IA | 913,595 | 640,003 | |||||
| Putnam VT Research Fund, Class IA | 0 | * | 659,276 | ||||
| Putnam VT Small Cap Value Fund, Class IA | 1,445 | 3,834 | |||||
| Putnam VT Sustainable Future Fund, Class IA | 54,020 | 51,892 | |||||
| Royce Capital Fund Small Cap Portfolio, Service Class | 7,098 | 1,771 | |||||
| T. Rowe Price Blue Chip Growth Portfolio, Class II | 1,717,503 | 1,525,773 | |||||
| VanEck VIP Emerging Markets Fund, Initial Class | 1,510 | 826 | |||||
| VanEck VIP Global Resources Fund, Class I | 387,349 | 124,338 | |||||
| Vanguard VIF Global Bond Index Portfolio | 130,102 | 91,676 | |||||
| Vanguard VIF Total Bond Market Index Portfolio | 1,106,333 | 78,281 | |||||
| Victory RS Small Cap Growth Equity VIP Series, Class I | - | 2 | |||||
| * The Subaccount has dollars that round to less than one. | |||||||
95
| 4. | CHANGES IN UNITS OUTSTANDING |
The changes in units outstanding for the years or periods ended December 31, 2023 and 2022 were as follows:
| 2023 | 2022 | |||||||||||||||||||||||
| Subaccount | Units
Issued | Units Redeemed | Net Increase (Decrease) | Units
Issued | Units Redeemed | Net Increase (Decrease) | ||||||||||||||||||
| Alger Small Cap Growth Portfolio, Class I-2 | 68 | 119 | (51 | ) | 500 | 1,158 | (658 | ) | ||||||||||||||||
| American Century Investments VP Capital Appreciation Fund, Class I | - | 422 | (422 | ) | 2,253 | 312 | 1,941 | |||||||||||||||||
| American Century Investments VP Inflation Protection Fund, Class II | 73,333 | 73,631 | (298 | ) | 35,684 | 4,448 | 31,236 | |||||||||||||||||
| American Century Investments VP International Fund, Class I | 172 | 225 | (53 | ) | 654 | 1,260 | (606 | ) | ||||||||||||||||
| American Century Investments VP Mid Cap Value Fund, Class I | 26,465 | 15,916 | 10,549 | 38,237 | 47,755 | (9,518 | ) | |||||||||||||||||
| American Century Investments VP Ultra Fund, Class I | - | 3,241 | (3,241 | ) | 260 | 175 | 85 | |||||||||||||||||
| American Century Investments VP Value Fund, Class I | 598 | 1,278 | (680 | ) | 3,276 | 12,883 | (9,607 | ) | ||||||||||||||||
| American Funds IS Global Small Capitalization Fund, Class 2 | 4,656 | 2,830 | 1,826 | 676 | 81 | 595 | ||||||||||||||||||
| American Funds IS Growth Fund, Class 2 | 1,938 | 10,671 | (8,733 | ) | 12,337 | 16,294 | (3,957 | ) | ||||||||||||||||
| American Funds IS Growth-Income Fund, Class 2 | - | 2 | (2 | ) | 1 | 2 | (1 | ) | ||||||||||||||||
| American Funds IS International Fund, Class 2 | 15,057 | 15,160 | (103 | ) | 17,928 | 54,896 | (36,968 | ) | ||||||||||||||||
| American Funds IS New World Fund, Class 2 | 3,969 | 5,719 | (1,750 | ) | 5,528 | 4,264 | 1,264 | |||||||||||||||||
| BlackRock 60/40 Target Allocation ETF V.I. Fund, Class I | - | 0 | * | (0 | )* | 1 | 0 | * | 1 | |||||||||||||||
| BlackRock Global Allocation V.I. Fund, Class I | 24,550 | 28,746 | (4,196 | ) | 29,168 | 29,637 | (469 | ) | ||||||||||||||||
| BlackRock High Yield V.I., Class I | 6,536 | 22,566 | (16,030 | ) | 26,025 | 7,687 | 18,338 | |||||||||||||||||
| BNY Mellon Stock Index Fund, Initial Shares | 82,406 | 75,811 | 6,595 | 123,414 | 150,524 | (27,110 | ) | |||||||||||||||||
| ClearBridge Variable Mid Cap Portfolio, Class I | 862 | 2,417 | (1,555 | ) | 1,489 | 235 | 1,254 | |||||||||||||||||
| ClearBridge Variable Small Cap Growth Portfolio, Class I | 15,299 | 9,420 | 5,879 | 20,696 | 17,945 | 2,751 | ||||||||||||||||||
| Columbia VP Small Cap Value Fund, Class 1 | 481 | 364 | 117 | 6,914 | 10,240 | (3,326 | ) | |||||||||||||||||
| Davis Financial Portfolio | 2,079 | 1,185 | 894 | 3,329 | 1,082 | 2,247 | ||||||||||||||||||
| Davis Value Portfolio | - | 74 | (74 | ) | - | 75 | (75 | ) | ||||||||||||||||
| Delaware VIP International Series, Standard Class | 20,501 | 710 | 19,791 | 1,049 | 12,029 | (10,980 | ) | |||||||||||||||||
| Delaware VIP Small Cap Value Series, Service Class | 9,685 | 7,992 | 1,693 | 23,372 | 28,593 | (5,221 | ) | |||||||||||||||||
| Dimensional VIT Inflation Protected Securities Portfolio, Institutional | 14,404 | 25,809 | (11,405 | ) | 35,879 | 18,852 | 17,027 | |||||||||||||||||
| DWS Core Equity VIP, Class A | - | 0 | * | (0 | )* | 0 | * | 0 | * | 0 | * | |||||||||||||
| DWS High Income VIP, Class A | 6,339 | 1,518 | 4,821 | 1,193 | 303 | 890 | ||||||||||||||||||
| DWS Small Cap Index VIP, Class A | 29,188 | 19,556 | 9,632 | 23,280 | 42,450 | (19,170 | ) | |||||||||||||||||
| Note: Units may not foot/crossfoot due to rounding. | ||||||||||||||||||||||||
| * The Subaccount has units that round to less than one. | ||||||||||||||||||||||||
96
| 2023 | 2022 | |||||||||||||||||||||||
| Subaccount | Units
Issued | Units Redeemed | Net Increase (Decrease) | Units
Issued | Units Redeemed | Net Increase (Decrease) | ||||||||||||||||||
| DWS Small Mid Cap Value VIP, Class A | 2,485 | 2,688 | (203 | ) | 2,339 | 1,720 | 619 | |||||||||||||||||
| Eaton Vance VT Floating-Rate Income, Initial Class | 15,386 | 13,187 | 2,199 | 19,257 | 17,889 | 1,368 | ||||||||||||||||||
| Empower Aggressive Profile Fund, Investor Class | 3,257 | 16,502 | (13,245 | ) | 33,233 | 34,288 | (1,055 | ) | ||||||||||||||||
| Empower Ariel Mid Cap Value Fund, Investor Class | 1,780 | 1,801 | (21 | ) | 30 | 216 | (186 | ) | ||||||||||||||||
| Empower Bond Index Fund, Investor Class | 131,844 | 100,036 | 31,808 | 75,826 | 62,903 | 12,923 | ||||||||||||||||||
| Empower Conservative Profile Fund, Investor Class | 38,646 | 98,044 | (59,398 | ) | 47,531 | 11,099 | 36,432 | |||||||||||||||||
| Empower Core Bond Fund, Investor Class | 695 | 3,053 | (2,358 | ) | 158,569 | 314,220 | (155,651 | ) | ||||||||||||||||
| Empower Emerging Markets Equity Fund, Investor Class | 4,883 | 11,711 | (6,828 | ) | 7,486 | 14,972 | (7,486 | ) | ||||||||||||||||
| Empower Global Bond Fund, Investor Class | 10,015 | 47,124 | (37,109 | ) | 32,270 | 15,917 | 16,353 | |||||||||||||||||
| Empower Government Money Market Fund, Investor Class | 782,325 | 909,652 | (127,327 | ) | 2,091,215 | 1,221,082 | 870,133 | |||||||||||||||||
| Empower Inflation-Protected Securities Fund, Investor Class | - | 0 | * | (0 | )* | 1 | 72,845 | (72,844 | ) | |||||||||||||||
| Empower International Index Fund, Investor Class | 44,687 | 39,854 | 4,833 | 50,030 | 37,001 | 13,029 | ||||||||||||||||||
| Empower International Value Fund, Investor Class | 16,899 | 199,141 | (182,242 | ) | 32,833 | 35,996 | (3,163 | ) | ||||||||||||||||
| Empower Large Cap Growth Fund, Investor Class | 12,635 | 9,561 | 3,074 | 10,053 | 7,110 | 2,943 | ||||||||||||||||||
| Empower Large Cap Value Fund, Investor II Class | 13,773 | 16,803 | (3,030 | ) | 5,715 | 25,703 | (19,988 | ) | ||||||||||||||||
| Empower Lifetime 2015 Fund, Investor Class | 2,863 | 3,338 | (475 | ) | 54,306 | 90,732 | (36,426 | ) | ||||||||||||||||
| Empower Lifetime 2020 Fund, Investor Class | 2,221 | 6,053 | (3,832 | ) | 1,803 | 980 | 823 | |||||||||||||||||
| Empower Lifetime 2025 Fund, Investor Class | 84,378 | 120,404 | (36,026 | ) | 245,890 | 56,517 | 189,373 | |||||||||||||||||
| Empower Lifetime 2030 Fund, Investor Class | 58,387 | 32,871 | 25,516 | 44,727 | 22,625 | 22,102 | ||||||||||||||||||
| Empower Lifetime 2035 Fund, Investor Class | 32,643 | 16,698 | 15,945 | 35,010 | 7,689 | 27,321 | ||||||||||||||||||
| Empower Lifetime 2040 Fund, Investor Class | 14,638 | 13,343 | 1,295 | 20,285 | 3,495 | 16,790 | ||||||||||||||||||
| Empower Lifetime 2045 Fund, Investor Class | 19,326 | 19,262 | 64 | 15,672 | 16,036 | (364 | ) | |||||||||||||||||
| Empower Lifetime 2050 Fund, Investor Class | 3,635 | 11,437 | (7,802 | ) | 6,288 | 2,600 | 3,688 | |||||||||||||||||
| Empower Lifetime 2055 Fund, Investor Class | 16,831 | 21,095 | (4,264 | ) | 18,254 | 5,861 | 12,393 | |||||||||||||||||
| Empower Lifetime 2060 Fund, Investor Class | 116 | 31 | 85 | 1 | 0 | * | 1 | |||||||||||||||||
| Empower Mid Cap Value Fund, Investor Class | 4,211 | 3,270 | 941 | 6,037 | 565 | 5,472 | ||||||||||||||||||
| Empower Moderate Profile Fund, Investor Class | 8,639 | 4,089 | 4,550 | 36,506 | 30,584 | 5,922 | ||||||||||||||||||
| Empower Moderately Aggressive Profile Fund, Investor Class | 4,534 | 3,033 | 1,501 | 28,143 | 22,972 | 5,171 | ||||||||||||||||||
| Empower Moderately Conservative Profile Fund, Investor Class | 54,646 | 20,962 | 33,684 | 77,398 | 24,671 | 52,727 | ||||||||||||||||||
| Empower Multi-Sector Bond Fund, Investor Class | 31,535 | 1,195 | 30,340 | 209 | 524 | (315 | ) | |||||||||||||||||
| Empower Real Estate Index Fund, Investor Class | 25,613 | 24,124 | 1,489 | 32,414 | 21,755 | 10,659 | ||||||||||||||||||
| Note: Units may not foot/crossfoot due to rounding. | ||||||||||||||||||||||||
| * The Subaccount has units that round to less than one. | ||||||||||||||||||||||||
97
| 2023 | 2022 | |||||||||||||||||||||||
| Subaccount | Units
Issued | Units Redeemed | Net Increase (Decrease) | Units
Issued | Units Redeemed | Net Increase (Decrease) | ||||||||||||||||||
| Empower S&P Mid Cap 400 Index Fund, Investor Class | 64,801 | 70,998 | (6,197 | ) | 67,055 | 106,959 | (39,904 | ) | ||||||||||||||||
| Empower S&P Small Cap 600 Index Fund, Investor Class | 32,758 | 28,750 | 4,008 | 29,781 | 23,306 | 6,475 | ||||||||||||||||||
| Empower Short Duration Bond Fund, Investor Class | 10,990 | 23,681 | (12,691 | ) | 207,149 | 404,556 | (197,407 | ) | ||||||||||||||||
| Empower Small Cap Growth Fund, Investor Class | - | 0 | * | (0 | )* | 1 | 0 | * | 1 | |||||||||||||||
| Empower Small Cap Value Fund, Investor Class | 641 | 2,393 | (1,752 | ) | 410 | 1,605 | (1,195 | ) | ||||||||||||||||
| Empower T. Rowe Price Mid Cap Growth Fund, Investor Class | 4,505 | 4,832 | (327 | ) | 7,820 | 10,361 | (2,541 | ) | ||||||||||||||||
| Empower U.S. Government Securities Fund, Investor Class | 9,680 | 10,579 | (899 | ) | 104,005 | 234,560 | (130,555 | ) | ||||||||||||||||
| Federated Hermes High Income Bond Fund II | - | 4,663 | (4,663 | ) | 576 | 123 | 453 | |||||||||||||||||
| Federated Hermes Kaufmann Fund II, Primary Shares | 5,487 | 2,767 | 2,720 | 784 | 131 | 653 | ||||||||||||||||||
| Fidelity VIP Contrafund Portfolio, Service Class 2 | 2,405 | 1,732 | 673 | 3,173 | 2,613 | 560 | ||||||||||||||||||
| Fidelity VIP Emerging Markets Portfolio, Service Class 2 | 21,626 | 20,572 | 1,054 | 26,423 | 22,526 | 3,897 | ||||||||||||||||||
| Fidelity VIP Growth Portfolio, Service Class 2 | - | 124 | (124 | ) | 72 | 206 | (134 | ) | ||||||||||||||||
| Fidelity VIP Index 500 Portfolio, Initial Class | 178,257 | 98,622 | 79,635 | 182,458 | 103,556 | 78,902 | ||||||||||||||||||
| Fidelity VIP Investment Grade Bond Portfolio, Service Class 2 | 438 | 101 | 337 | 299 | 3,564 | (3,265 | ) | |||||||||||||||||
| Fidelity VIP Mid Cap Portfolio, Service Class 2 | 468 | 1,345 | (877 | ) | 975 | 1,492 | (517 | ) | ||||||||||||||||
| Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares | 764 | 3,813 | (3,049 | ) | 107 | 57 | 50 | |||||||||||||||||
| Goldman Sachs VIT Multi-Strategy Alternatives Portfolio, Service Shares | 0 | * | 487 | (487 | ) | - | 248 | (248 | ) | |||||||||||||||
| Invesco Global Real Estate Fund, Series I | 2,620 | 1,504 | 1,116 | 3,376 | 3,952 | (576 | ) | |||||||||||||||||
| Invesco V.I. Core Equity Fund, Series I | - | 55 | (55 | ) | 51 | 197 | (146 | ) | ||||||||||||||||
| Invesco V.I. EQV International Equity Fund, Series I | 7,865 | 16,844 | (8,979 | ) | 12,273 | 16,310 | (4,037 | ) | ||||||||||||||||
| Invesco V.I. Health Care Fund, Series I | 2,885 | 1,320 | 1,565 | - | 38 | (38 | ) | |||||||||||||||||
| Invesco V.I. Main Street Mid Cap Fund | - | - | - | - | 13,540 | (13,540 | ) | |||||||||||||||||
| Invesco V.I. Main Street Small Cap Fund | 10,103 | 8,864 | 1,239 | 9,680 | 8,446 | 1,234 | ||||||||||||||||||
| Janus Aspen Series Janus Henderson Flexible Bond Portfolio | 18,040 | 47,126 | (29,086 | ) | 32,970 | 36,829 | (3,859 | ) | ||||||||||||||||
| Janus Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | - | 33 | (33 | ) | - | 33 | (33 | ) | ||||||||||||||||
| Janus Henderson Balanced Fund, Class I | 16,700 | 20,912 | (4,212 | ) | 18,738 | 13,782 | 4,956 | |||||||||||||||||
| Janus Henderson Enterprise Fund, Class I | 13,520 | 21,178 | (7,658 | ) | 7,454 | 7,843 | (389 | ) | ||||||||||||||||
| Janus Henderson Forty Fund, Class I | 6,613 | 4,822 | 1,791 | 1,983 | 1,267 | 716 | ||||||||||||||||||
| Janus Henderson Global Research Fund, Class I | 12,310 | 1,167 | 11,143 | 238 | 966 | (728 | ) | |||||||||||||||||
| Janus Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | 3,354 | 3,813 | (459 | ) | 5,994 | 8,701 | (2,707 | ) | ||||||||||||||||
| Note: Units may not foot/crossfoot due to rounding. | ||||||||||||||||||||||||
| * The Subaccount has units that round to less than one. | ||||||||||||||||||||||||
98
| 2023 | 2022 | |||||||||||||||||||||||
| Subaccount | Units
Issued | Units Redeemed | Net Increase (Decrease) | Units
Issued | Units Redeemed | Net Increase (Decrease) | ||||||||||||||||||
| Lord Abbett Series Fund Developing Growth Portfolio | 14,711 | 2,035 | 12,676 | - | 1,766 | (1,766 | ) | |||||||||||||||||
| Lord Abbett Series Fund Total Return Portfolio | 8,886 | 8,510 | 376 | 32,476 | 28,872 | 3,604 | ||||||||||||||||||
| LVIP JPMorgan Small Cap Core Fund, Standard Class | - | 0 | * | (0 | )* | 1 | 0 | * | 1 | |||||||||||||||
| LVIP JPMorgan U.S. Equity Fund, Standard Class | - | 0 | * | (0 | )* | 1 | 0 | * | 1 | |||||||||||||||
| MFS Blended Research Small Cap Equity Portfolio, Initial Class | - | 603 | (603 | ) | 1 | 195 | (194 | ) | ||||||||||||||||
| MFS Global Real Estate Portfolio, Initial Class | 10,027 | 5,458 | 4,569 | 5,730 | 1,159 | 4,571 | ||||||||||||||||||
| MFS Growth Series, Initial Class | - | 533 | (533 | ) | 1 | 434 | (433 | ) | ||||||||||||||||
| MFS International Growth Portfolio, Initial Class | 40,742 | 34,368 | 6,374 | 56,904 | 52,738 | 4,166 | ||||||||||||||||||
| MFS Mid Cap Growth Series, Initial Class | 14,890 | 26,078 | (11,188 | ) | 14,801 | 26,772 | (11,971 | ) | ||||||||||||||||
| MFS Mid Cap Value Portfolio, Initial Class | 6,060 | 5,756 | 304 | 3,225 | 2,475 | 750 | ||||||||||||||||||
| MFS Research Series, Initial Class | - | 1,777 | (1,777 | ) | 1 | 1,360 | (1,359 | ) | ||||||||||||||||
| MFS Total Return Bond Series, Initial Class | 3,332 | 7,051 | (3,719 | ) | 589 | 6,577 | (5,988 | ) | ||||||||||||||||
| MFS Value Series, Initial Class | 45,179 | 37,223 | 7,956 | 24,610 | 36,857 | (12,247 | ) | |||||||||||||||||
| Neuberger Berman AMT Mid Cap Growth Portfolio, Class I | 5 | 29 | (24 | ) | 58 | 109 | (51 | ) | ||||||||||||||||
| Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio, Class I | - | - | - | - | 2,343 | (2,343 | ) | |||||||||||||||||
| Neuberger Berman AMT Sustainable Equity Portfolio, Class I | 3,768 | 1,031 | 2,737 | 263 | 180 | 83 | ||||||||||||||||||
| PIMCO Commodity RealReturn Strategy Portfolio, Admin Class | 1,135 | 221 | 914 | 1,202 | 62 | 1,140 | ||||||||||||||||||
| PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | 25,174 | 20,991 | 4,183 | 29,625 | 45,375 | (15,750 | ) | |||||||||||||||||
| PIMCO High Yield Portfolio, Admin Class | 15,211 | 4,961 | 10,250 | 6,699 | 7,475 | (776 | ) | |||||||||||||||||
| PIMCO Income Portfolio, Institutional Class | 4,595 | 1,610 | 2,985 | - | - | - | ||||||||||||||||||
| PIMCO Low Duration Portfolio, Admin Class | 20,321 | 87,765 | (67,444 | ) | 155,477 | 396,070 | (240,593 | ) | ||||||||||||||||
| PIMCO Real Return Portfolio, Admin Class | 11,151 | 4,276 | 6,875 | 8,190 | 17,503 | (9,313 | ) | |||||||||||||||||
| PIMCO Total Return Portfolio, Admin Class | 62,304 | 32,465 | 29,839 | 39,245 | 40,213 | (968 | ) | |||||||||||||||||
| Pioneer Real Estate Shares VCT Portfolio, Class I | 1,337 | 13,430 | (12,093 | ) | 2,500 | 8,698 | (6,198 | ) | ||||||||||||||||
| Putnam VT Focused International Equity Fund, Class IA | - | 9,790 | (9,790 | ) | 891 | 2,403 | (1,512 | ) | ||||||||||||||||
| Putnam VT Global Asset Allocation Fund, Class IA | - | 457 | (457 | ) | 1 | 447 | (446 | ) | ||||||||||||||||
| Putnam VT High Yield Fund, Class IA | 161 | 688 | (527 | ) | 568 | 1,586 | (1,018 | ) | ||||||||||||||||
| Putnam VT Income Fund, Class IB | 15,552 | 289 | 15,263 | 921 | 87 | 834 | ||||||||||||||||||
| Putnam VT International Value Fund, Class IA | 40,849 | 31,692 | 9,157 | 44,420 | 24,372 | 20,048 | ||||||||||||||||||
| Putnam VT Large Cap Growth Fund, Class IA | 4,190 | 2,793 | 1,397 | 11,871 | 32,227 | (20,356 | ) | |||||||||||||||||
| Putnam VT Large Cap Value Fund, Class IA | 13,115 | 10,792 | 2,323 | 21,127 | 12,461 | 8,666 | ||||||||||||||||||
| Note: Units may not foot/crossfoot due to rounding. | ||||||||||||||||||||||||
| * The Subaccount has units that round to less than one. | ||||||||||||||||||||||||
99
| 2023 | 2022 | |||||||||||||||||||||||
| Subaccount | Units
Issued | Units Redeemed | Net Increase (Decrease) | Units
Issued | Units Redeemed | Net Increase (Decrease) | ||||||||||||||||||
| Putnam VT Research Fund, Class IA | - | 30,469 | (30,469 | ) | 6,203 | 2,245 | 3,958 | |||||||||||||||||
| Putnam VT Small Cap Value Fund, Class IA | 56 | 231 | (175 | ) | 195 | 83 | 112 | |||||||||||||||||
| Putnam VT Sustainable Future Fund, Class IA | 1,058 | 958 | 100 | 1,195 | 911 | 284 | ||||||||||||||||||
| Royce Capital Fund Small Cap Portfolio, Service Class | - | 71 | (71 | ) | - | 71 | (71 | ) | ||||||||||||||||
| T. Rowe Price Blue Chip Growth Portfolio, Class II | 77,555 | 67,467 | 10,088 | 92,747 | 108,472 | (15,725 | ) | |||||||||||||||||
| VanEck VIP Emerging Markets Fund, Initial Class | - | 19 | (19 | ) | - | 18 | (18 | ) | ||||||||||||||||
| VanEck VIP Global Resources Fund, Class I | 5,349 | 1,867 | 3,482 | 2,211 | 4,487 | (2,276 | ) | |||||||||||||||||
| Vanguard VIF Global Bond Index Portfolio | 12,796 | 10,400 | 2,396 | 15,597 | 13,535 | 2,062 | ||||||||||||||||||
| Vanguard VIF Total Bond Market Index Portfolio | 120,868 | 8,989 | 111,879 | 120,437 | 14,067 | 106,370 | ||||||||||||||||||
| Victory RS Small Cap Growth Equity VIP Series, Class I | - | 0 | * | (0 | )* | 1 | 824 | (823 | ) | |||||||||||||||
| Note: Units may not foot/crossfoot due to rounding. | ||||||||||||||||||||||||
| * The Subaccount has units that round to less than one. | ||||||||||||||||||||||||
100
| 5. | EXPENSES AND RELATED PARTY TRANSACTIONS |
The charges below are the current expenses deducted by Subaccount from the Policy as a redemption of units. Charges may vary based on factors such as face amount, gender, age at issue of the insured, age at issue of the joint insured, insurance rate classification and smoking status, death benefit option selected, insured's age at time of face increase, and/or age of the Policy. The charges are recorded, as applicable, to the respective Subaccount in the Separate Account. Redemption of units deductions are made to the individual Policies in accordance with the terms which govern each life insurance policy, as set forth in the Policy.
| Expense Type | Range |
| Premium Expense Charge | |
| This charge is assessed to reimburse the Company for expenses incurred associated with the sales and distribution of the Policies. The charge is assessed on each premium payment received, deducted through a redemption of units, and recorded as Policy owners’ net payments within the Statements of Changes in Net Assets. |
not more than 10.0% of each premium payment received
|
| Service Charge | |
| This charge is assessed to reimburse the Company for expenses incurred in the administration of the Policy and the Separate Account. The charge is deducted monthly, assessed through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | $7.50 - $10 per month |
| Mortality and Expense Risk Charge | |
| This charge is assessed to reimburse the Company for assuming mortality and expense risks. The charge is deducted daily, assessed through a redemption of units and recorded as Policy maintenance Charges in the Statements of Changes in Net Assets. | a daily charge amounting to a per annum aggregate of 0.10% - 0.90% of the average daily net assets of the Subaccounts |
| Transfer Charge | |
| This charge is assessed to reimburse the Company for costs incurred when transferring funds. The charge is deducted upon transfer, assessed through a redemption of units, and recorded as Policy owners’ benefits within the Statements of Changes in Net Assets. | $10 per transfer after the first 12 transfers in any calendar year |
101
| Withdrawal Charge | |
| This charge is assessed to reimburse the Company for costs incurred from withdrawals. The charge is deducted upon withdrawal, assessed through a redemption of units, and recorded as Policy owners’ benefits within the Statements of Changes in Net Assets. | $25 per withdrawal after the first partial withdrawal in the same Policy year |
| Cost of Insurance Charge (COI) | |
| This charge is assessed to reimburse the Company for the cost of providing the death benefit. The charge is assessed on the Policy's monthly anniversary day, assessed through a redemption of units, and recorded as Policy owners’ benefits within the Statements of Changes in Net Assets. | $0.01 - $83.33 per $1,000 of net amount at risk per month |
| Charge for Change of Death Benefit Option | |
| This charge is assessed to reimburse the Company for costs incurred from a change of death benefit option. The charge is deducted upon each change request, assessed through a redemption of units, and recorded as Policy owners’ benefits within the Statements of Changes in Net Assets. | maximum fee of $100 per change |
102
| 6. | FINANCIAL HIGHLIGHTS |
The Company sells one variable life product that is funded by the Separate Account. This product has a unique combination of features and expenses that are charged against the Policy owner’s account. The summaries may not reflect or directly equate to the Policy expenses offered by the Company, as Policy owners may not have selected all available and applicable Policy options for or during the periods presented.
A summary of the units outstanding, unit fair values, net assets for variable life Policies, investment income ratios, excluding expenses of the underlying Subaccounts, and total returns for each of the five years or periods ended December 31, 2023 is as follows:
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Alger Small Cap Growth Portfolio, Class I-2 | ||||||||||||||||||||
| 2023 | 2 | $ | 242.85 | $ | 441 | 0.00 | % | 16.49 | % | |||||||||||
| 2022 | 2 | 208.47 | 390 | 0.00 | % | (38.01 | )% | |||||||||||||
| 2021 | 3 | 336.31 | 849 | 0.00 | % | (6.06 | )% | |||||||||||||
| 2020 | 21 | 358.01 | 737 | 1.12 | % | 67.18 | % | |||||||||||||
| 2019 | 3 | 214.15 | 536 | 0.00 | % | 29.34 | % | |||||||||||||
| American Century Investments VP Capital Appreciation Fund, Class I | ||||||||||||||||||||
| 2023 | 20 | 24.67 | 499 | 0.00 | % | 20.69 | % | |||||||||||||
| 2022 | 21 | 20.44 | 422 | 0.00 | % | (28.11 | )% | |||||||||||||
| 2021 | 19 | 28.43 | 532 | 0.00 | % | 11.16 | % | |||||||||||||
| 2020 | 19 | 25.58 | 486 | 0.00 | % | 42.42 | % | |||||||||||||
| 2019 | 19 | 17.96 | 347 | 0.00 | % | 35.56 | % | |||||||||||||
| American Century Investments VP Inflation Protection Fund, Class II | ||||||||||||||||||||
| 2023 | 318 | 11.54 | 3,665 | 3.31 | % | 3.40 | % | |||||||||||||
| 2022 | 318 | 11.16 | 3,548 | 5.04 | % | (13.08 | )% | |||||||||||||
| 2021 | 287 | 12.84 | 3,681 | 3.11 | % | 6.27 | % | |||||||||||||
| 2020 | 292 | 12.09 | 3,524 | 1.88 | % | 9.57 | % | |||||||||||||
| 2019 | 68 | 11.03 | 754 | 2.34 | % | 8.90 | % | |||||||||||||
103
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| American Century Investments VP International Fund, Class I | ||||||||||||||||||||
| 2023 | 3 | $ | 18.24 | $ | 48 | 1.34 | % | 12.57 | % | |||||||||||
| 2022 | 3 | 16.20 | 43 | 1.38 | % | (24.75 | )% | |||||||||||||
| 2021 | 3 | 21.54 | 71 | 0.16 | % | 8.75 | % | |||||||||||||
| 2020 | 3 | 19.80 | 67 | 0.60 | % | 25.89 | % | |||||||||||||
| 2019 | 4 | 15.73 | 59 | 0.89 | % | 28.42 | % | |||||||||||||
| American Century Investments VP Mid Cap Value Fund, Class I | ||||||||||||||||||||
| 2023 | 112 | 15.92 | 1,788 | 2.35 | % | 6.13 | % | |||||||||||||
| 2022 | 102 | 15.00 | 1,526 | 2.23 | % | (1.19 | )% | |||||||||||||
| 2021 | 111 | 15.19 | 1,689 | 1.11 | % | 23.20 | % | |||||||||||||
| 2020 | 133 | 12.33 | 1,641 | 2.97 | % | 1.19 | % | |||||||||||||
| 2019 | 3 | 12.18 | 37 | 1.58 | % | 29.15 | % | |||||||||||||
| American Century Investments VP Ultra Fund, Class I | ||||||||||||||||||||
| 2023 | 0 | * | 73.99 | 0 | * | 0.00 | % | 43.51 | % | |||||||||||
| 2022 | 3 | 51.55 | 167 | 0.00 | % | (32.38 | )% | |||||||||||||
| 2021 | 3 | 76.24 | 241 | 0.00 | % | 662.37 | % | |||||||||||||
| American Century Investments VP Value Fund, Class I | ||||||||||||||||||||
| 2023 | 14 | 69.83 | 975 | 2.39 | % | 9.10 | % | |||||||||||||
| 2022 | 15 | 64.01 | 937 | 2.02 | % | 0.54 | % | |||||||||||||
| 2021 | 24 | 63.66 | 1,544 | 1.74 | % | 24.51 | % | |||||||||||||
| 2020 | 24 | 51.13 | 1,234 | 2.20 | % | 0.97 | % | |||||||||||||
| 2019 | 24 | 50.64 | 1,202 | 2.12 | % | 27.03 | % | |||||||||||||
104
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| American Funds IS Global Small Capitalization Fund, Class 2 | ||||||||||||||||||||
| 2023 | 5 | $ | 21.36 | $ | 104 | 0.27 | % | 16.17 | % | |||||||||||
| 2022 | 3 | 18.39 | 56 | 0.00 | % | (29.55 | )% | |||||||||||||
| 2021 | 2 | 26.10 | 64 | 0.00 | % | 6.74 | % | |||||||||||||
| 2020 | 8 | 24.46 | 201 | 0.18 | % | 29.74 | % | |||||||||||||
| 2019 | 9 | 18.85 | 177 | 0.18 | % | 31.52 | % | |||||||||||||
| American Funds IS Growth Fund, Class 2 | ||||||||||||||||||||
| 2023 | 61 | 57.54 | 3,508 | 0.36 | % | 38.48 | % | |||||||||||||
| 2022 | 70 | 41.55 | 2,896 | 0.32 | % | (29.94 | )% | |||||||||||||
| 2021 | 74 | 59.30 | 4,368 | 0.20 | % | 21.99 | % | |||||||||||||
| 2020 | 95 | 48.61 | 4,622 | 0.32 | % | 52.10 | % | |||||||||||||
| 2019 | 114 | 31.96 | 3,640 | 0.83 | % | 30.77 | % | |||||||||||||
| American Funds IS Growth-Income Fund, Class 2 | ||||||||||||||||||||
| 2023 | 0 | * | 17.84 | 0 | * | 1.37 | % | 26.14 | % | |||||||||||
| 2022 | 0 | * | 14.14 | 0 | * | 1.28 | % | (16.47 | )% | |||||||||||
| 2021 | 0 | * | 16.93 | - | 1.12 | % | 24.07 | % | ||||||||||||
| 2020 | 0 | * | 13.65 | 3 | 1.46 | % | 13.55 | % | ||||||||||||
| American Funds IS International Fund, Class 2 | ||||||||||||||||||||
| 2023 | 113 | 15.88 | 1,791 | 1.30 | % | 15.84 | % | |||||||||||||
| 2022 | 113 | 13.71 | 1,548 | 1.62 | % | (20.79 | )% | |||||||||||||
| 2021 | 150 | 17.30 | 2,593 | 2.67 | % | (1.50 | )% | |||||||||||||
| 2020 | 64 | 17.57 | 1,132 | 0.77 | % | 14.00 | % | |||||||||||||
| 2019 | 33 | 15.41 | 501 | 1.06 | % | 22.89 | % | |||||||||||||
105
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| American Funds IS New World Fund, Class 2 | ||||||||||||||||||||
| 2023 | 52 | $ | 29.70 | $ | 1,542 | 1.43 | % | 16.00 | % | |||||||||||
| 2022 | 54 | 25.60 | 1,374 | 1.33 | % | (22.10 | )% | |||||||||||||
| 2021 | 52 | 32.86 | 1,722 | 0.77 | % | 4.92 | % | |||||||||||||
| 2020 | 69 | 31.32 | 2,150 | 0.08 | % | 23.60 | % | |||||||||||||
| 2019 | 64 | 25.34 | 1,633 | 0.94 | % | 29.14 | % | |||||||||||||
| BlackRock 60/40 Target Allocation ETF V.I. Fund, Class I | ||||||||||||||||||||
| 2023 | 0 | * | 13.51 | 0 | * | 2.04 | % | 15.62 | % | |||||||||||
| 2022 | 0 | * | 11.68 | 0 | * | 3.21 | % | (15.03 | )% | |||||||||||
| 2021 | - | 13.75 | - | 5.30 | % | 37.50 | % | |||||||||||||
| BlackRock Global Allocation V.I. Fund, Class I | ||||||||||||||||||||
| 2023 | 175 | 15.78 | 2,758 | 2.21 | % | 12.83 | % | |||||||||||||
| 2022 | 179 | 13.98 | 2,503 | 0.00 | % | (15.86 | )% | |||||||||||||
| 2021 | 179 | 16.62 | 2,983 | 0.98 | % | 6.67 | % | |||||||||||||
| 2020 | 10 | 15.58 | 158 | 1.56 | % | 20.96 | % | |||||||||||||
| 2019 | 0 | * | 12.88 | 5 | 1.11 | % | 17.99 | % | ||||||||||||
| BlackRock High Yield V.I., Class I | ||||||||||||||||||||
| 2023 | 49 | 12.03 | 591 | 6.54 | % | 13.19 | % | |||||||||||||
| 2022 | 65 | 10.63 | 693 | 5.37 | % | (10.34 | )% | |||||||||||||
| 2021 | 47 | 11.86 | 555 | 4.53 | % | 5.32 | % | |||||||||||||
| 2020 | 3 | 11.26 | 30 | 0.00 | % | 7.30 | % | |||||||||||||
| BNY Mellon Stock Index Fund, Initial Shares | ||||||||||||||||||||
| 2023 | 649 | 48.20 | 31,264 | 1.44 | % | 25.93 | % | |||||||||||||
| 2022 | 642 | 38.27 | 24,575 | 1.35 | % | (18.32 | )% | |||||||||||||
| 2021 | 669 | 46.86 | 31,356 | 1.11 | % | 28.41 | % | |||||||||||||
| 2020 | 692 | 36.49 | 25,248 | 1.66 | % | 18.01 | % | |||||||||||||
| 2019 | 988 | 30.92 | 30,559 | 1.72 | % | 31.18 | % | |||||||||||||
106
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| ClearBridge Variable Mid Cap Portfolio, Class I | ||||||||||||||||||||
| 2023 | 5 | $ | 18.25 | $ | 98 | 0.11 | % | 12.92 | % | |||||||||||
| 2022 | 7 | 16.17 | 112 | 0.35 | % | (25.31 | )% | |||||||||||||
| 2021 | 6 | 21.64 | 123 | 0.02 | % | 28.71 | % | |||||||||||||
| 2020 | 9 | 16.82 | 155 | 0.31 | % | 15.34 | % | |||||||||||||
| 2019 | 8 | 14.58 | 121 | 0.85 | % | 32.95 | % | |||||||||||||
| ClearBridge Variable Small Cap Growth Portfolio, Class I | ||||||||||||||||||||
| 2023 | 25 | 23.00 | 578 | 0.00 | % | 8.40 | % | |||||||||||||
| 2022 | 19 | 21.21 | 409 | 0.00 | % | (28.85 | )% | |||||||||||||
| 2021 | 17 | 29.81 | 492 | 0.00 | % | 12.61 | % | |||||||||||||
| 2020 | 18 | 26.47 | 489 | 0.00 | % | 43.26 | % | |||||||||||||
| 2019 | 11 | 18.48 | 211 | 0.00 | % | 26.87 | % | |||||||||||||
| Columbia VP Small Cap Value Fund, Class 1 | ||||||||||||||||||||
| 2023 | 3 | 51.31 | 148 | 0.75 | % | 21.94 | % | |||||||||||||
| 2022 | 3 | 42.08 | 116 | 0.11 | % | (8.69 | )% | |||||||||||||
| 2021 | 6 | 46.08 | 281 | 0.68 | % | 29.19 | % | |||||||||||||
| 2020 | 7 | 35.67 | 154 | 0.74 | % | 8.79 | % | |||||||||||||
| 2019 | 4 | 32.79 | 141 | 0.64 | % | 21.34 | % | |||||||||||||
| Davis Financial Portfolio | ||||||||||||||||||||
| 2023 | 11 | 35.64 | 402 | 2.64 | % | 15.29 | % | |||||||||||||
| 2022 | 10 | 30.92 | 321 | 2.27 | % | (8.53 | )% | |||||||||||||
| 2021 | 8 | 33.80 | 275 | 3.43 | % | 30.54 | % | |||||||||||||
| 2020 | 1 | 25.89 | 37 | 1.57 | % | (5.99 | )% | |||||||||||||
| 2019 | 2 | 27.54 | 58 | 1.57 | % | 25.86 | % | |||||||||||||
107
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Davis Value Portfolio | ||||||||||||||||||||
| 2023 | 4 | $ | 39.88 | $ | 166 | 1.39 | % | 32.63 | % | |||||||||||
| 2022 | 4 | 30.07 | 127 | 1.29 | % | (20.13 | )% | |||||||||||||
| 2021 | 4 | 37.64 | 162 | 0.60 | % | 17.85 | % | |||||||||||||
| 2020 | 4 | 31.94 | 139 | 0.81 | % | 11.73 | % | |||||||||||||
| 2019 | 4 | 28.59 | 127 | 1.65 | % | 31.16 | % | |||||||||||||
| Delaware VIP International Series, Standard Class | ||||||||||||||||||||
| 2023 | 26 | 10.22 | 270 | 1.37 | % | 13.58 | % | |||||||||||||
| 2022 | 7 | 8.99 | 60 | 0.88 | % | (17.37 | )% | |||||||||||||
| 2021 | 18 | 10.88 | 191 | 0.91 | % | 6.87 | % | |||||||||||||
| 2020 | 18 | 10.18 | 183 | 0.00 | % | 1.81 | % | |||||||||||||
| 2019 | 3 | 12.52 | 40 | 0.01 | % | 19.31 | % | |||||||||||||
| Delaware VIP Small Cap Value Series, Service Class | ||||||||||||||||||||
| 2023 | 32 | 19.01 | 602 | 0.65 | % | 9.10 | % | |||||||||||||
| 2022 | 30 | 17.43 | 522 | 0.44 | % | (12.36 | )% | |||||||||||||
| 2021 | 35 | 19.88 | 700 | 0.59 | % | 34.01 | % | |||||||||||||
| 2020 | 25 | 14.84 | 369 | 1.10 | % | (2.19 | )% | |||||||||||||
| 2019 | 9 | 15.17 | 142 | 0.90 | % | 27.72 | % | |||||||||||||
| Dimensional VIT Inflation Protected Securities Portfolio, Institutional | ||||||||||||||||||||
| 2023 | 6 | 9.60 | 54 | 1.74 | % | 4.02 | % | |||||||||||||
| 2022 | 17 | 9.23 | 157 | 12.34 | % | (7.71 | )% | |||||||||||||
| DWS Core Equity VIP, Class A | ||||||||||||||||||||
| 2023 | 0 | * | 43.00 | 0 | * | 0.93 | % | 25.57 | % | |||||||||||
| 2022 | 0 | * | 34.25 | 0 | * | 0.59 | % | (15.88 | )% | |||||||||||
108
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| DWS CROCI U.S. VIP, Class A | ||||||||||||||||||||
| 2023 | - | $ | - | $ | - | 0.00 | % | 20.76 | % | |||||||||||
| 2022 | - | - | - | 0.00 | % | (15.40 | )% | |||||||||||||
| 2021 | - | - | - | 0.00 | % | 0.00 | % | |||||||||||||
| 2020 | 8 | 16.86 | 143 | 2.02 | % | (12.14 | )% | |||||||||||||
| 2019 | 15 | 19.19 | 285 | 1.97 | % | 32.95 | % | |||||||||||||
| DWS High Income VIP, Class A | ||||||||||||||||||||
| 2023 | 16 | 23.22 | 369 | 5.30 | % | 11.34 | % | |||||||||||||
| 2022 | 11 | 20.86 | 231 | 5.23 | % | (8.88 | )% | |||||||||||||
| 2021 | 10 | 22.89 | 233 | 3.47 | % | 4.00 | % | |||||||||||||
| 2020 | 8 | 22.01 | 168 | 5.16 | % | 6.22 | % | |||||||||||||
| 2019 | 6 | 20.72 | 119 | 6.03 | % | 15.69 | % | |||||||||||||
| DWS Small Cap Index VIP, Class A | ||||||||||||||||||||
| 2023 | 268 | 34.46 | 9,240 | 1.13 | % | 16.76 | % | |||||||||||||
| 2022 | 258 | 29.52 | 7,629 | 0.91 | % | (20.64 | )% | |||||||||||||
| 2021 | 278 | 37.19 | 10,326 | 0.86 | % | 14.50 | % | |||||||||||||
| 2020 | 265 | 32.48 | 8,594 | 1.30 | % | 19.42 | % | |||||||||||||
| 2019 | 268 | 27.20 | 7,280 | 1.06 | % | 25.22 | % | |||||||||||||
| DWS Small Mid Cap Value VIP, Class A | ||||||||||||||||||||
| 2023 | 45 | 33.84 | 1,527 | 1.15 | % | 14.95 | % | |||||||||||||
| 2022 | 45 | 29.44 | 1,335 | 0.85 | % | (15.80 | )% | |||||||||||||
| 2021 | 45 | 34.97 | 1,564 | 1.22 | % | 30.50 | % | |||||||||||||
| 2020 | 49 | 26.80 | 1,322 | 1.61 | % | (0.79 | )% | |||||||||||||
| 2019 | 65 | 27.01 | 1,768 | 0.72 | % | 21.51 | % | |||||||||||||
109
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Eaton Vance VT Floating-Rate Income, Initial Class | ||||||||||||||||||||
| 2023 | 118 | $ | 13.33 | $ | 1,567 | 8.21 | % | 11.21 | % | |||||||||||
| 2022 | 115 | 11.98 | 1,383 | 4.65 | % | (2.74 | )% | |||||||||||||
| 2021 | 114 | 12.32 | 1,405 | 2.89 | % | 3.61 | % | |||||||||||||
| 2020 | 6 | 11.89 | 74 | 0.27 | % | 2.02 | % | |||||||||||||
| Empower Aggressive Profile Fund, Investor Class | ||||||||||||||||||||
| 2023 | 25 | 16.92 | 426 | 2.88 | % | 16.94 | % | |||||||||||||
| 2022 | 38 | 14.47 | 556 | 1.31 | % | (15.17 | )% | |||||||||||||
| 2021 | 39 | 17.05 | 673 | 5.96 | % | 19.49 | % | |||||||||||||
| 2020 | 43 | 14.27 | 618 | 1.71 | % | 12.03 | % | |||||||||||||
| 2019 | 44 | 12.74 | 566 | 1.29 | % | 26.10 | % | |||||||||||||
| Empower Ariel Mid Cap Value Fund, Investor Class | ||||||||||||||||||||
| 2023 | 3 | 73.62 | 195 | 1.83 | % | 10.45 | % | |||||||||||||
| 2022 | 3 | 66.65 | 178 | 5.05 | % | (12.94 | )% | |||||||||||||
| 2021 | 3 | 76.56 | 219 | 2.18 | % | 26.13 | % | |||||||||||||
| 2020 | 6 | 60.70 | 345 | 2.85 | % | 9.09 | % | |||||||||||||
| 2019 | 5 | 55.64 | 262 | 1.32 | % | 24.32 | % | |||||||||||||
| Empower Bond Index Fund, Investor Class | ||||||||||||||||||||
| 2023 | 281 | 14.58 | 4,090 | 2.05 | % | 5.02 | % | |||||||||||||
| 2022 | 249 | 13.88 | 3,453 | 1.16 | % | (13.68 | )% | |||||||||||||
| 2021 | 236 | 16.08 | 3,793 | 0.80 | % | (2.39 | )% | |||||||||||||
| 2020 | 235 | 16.47 | 3,872 | 1.81 | % | 7.18 | % | |||||||||||||
| 2019 | 155 | 15.37 | 2,378 | 1.08 | % | 8.09 | % | |||||||||||||
110
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Conservative Profile Fund, Investor Class | ||||||||||||||||||||
| 2023 | 38 | $ | 12.64 | $ | 477 | 2.33 | % | 8.25 | % | |||||||||||
| 2022 | 97 | 11.67 | 1,134 | 1.97 | % | (9.93 | )% | |||||||||||||
| 2021 | 61 | 12.96 | 787 | 2.21 | % | 6.35 | % | |||||||||||||
| 2020 | 90 | 12.19 | 1,096 | 2.14 | % | 8.22 | % | |||||||||||||
| 2019 | 97 | 11.26 | 1,087 | 1.72 | % | 11.54 | % | |||||||||||||
| Empower Core Bond Fund, Investor Class | ||||||||||||||||||||
| 2023 | 6 | 15.14 | 94 | 2.11 | % | 6.20 | % | |||||||||||||
| 2022 | 9 | 14.25 | 123 | 0.63 | % | (14.70 | )% | |||||||||||||
| 2021 | 164 | 16.71 | 2,744 | 0.78 | % | (1.55 | )% | |||||||||||||
| 2020 | 164 | 16.97 | 2,776 | 2.80 | % | 8.04 | % | |||||||||||||
| 2019 | 162 | 15.71 | 2,541 | 2.43 | % | 9.19 | % | |||||||||||||
| Empower Emerging Markets Equity Fund, Investor Class | ||||||||||||||||||||
| 2023 | 0 | * | 9.76 | 0 | * | 1.34 | % | 9.67 | % | |||||||||||
| 2022 | 7 | 8.90 | 61 | 0.76 | % | (22.34 | )% | |||||||||||||
| 2021 | 14 | 11.46 | 164 | 1.93 | % | (4.43 | )% | |||||||||||||
| 2020 | 8 | 12.00 | 96 | 9.53 | % | 19.59 | % | |||||||||||||
| 2019 | - | 10.03 | 3 | 0.98 | % | 21.67 | % | |||||||||||||
| Empower Global Bond Fund, Investor Class | ||||||||||||||||||||
| 2023 | 74 | 13.07 | 972 | 0.83 | % | 5.13 | % | |||||||||||||
| 2022 | 111 | 12.43 | 1,386 | 0.80 | % | (14.65 | )% | |||||||||||||
| 2021 | 95 | 14.56 | 1,386 | 0.80 | % | (6.46 | )% | |||||||||||||
| 2020 | 109 | 15.57 | 1,696 | 1.02 | % | 5.35 | % | |||||||||||||
| 2019 | 182 | 14.78 | 2,696 | 3.22 | % | 4.07 | % | |||||||||||||
111
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Government Money Market Fund, Investor Class | ||||||||||||||||||||
| 2023 | 2,268 | $ | 14.30 | $ | 31,746 | 4.46 | % | 4.54 | % | |||||||||||
| 2022 | 2,396 | 13.68 | 32,781 | 1.37 | % | 1.22 | % | |||||||||||||
| 2021 | 1,526 | 13.52 | 20,623 | 0.01 | % | 0.01 | % | |||||||||||||
| 2020 | 1,744 | 13.52 | 23,577 | 0.23 | % | 0.28 | % | |||||||||||||
| 2019 | 1,054 | 13.48 | 14,207 | 1.72 | % | 1.76 | % | |||||||||||||
| Empower Inflation-Protected Securities Fund, Investor Class | ||||||||||||||||||||
| 2023 | 0 | * | 11.39 | 0 | * | 4.12 | % | 4.76 | % | |||||||||||
| 2022 | 0 | * | 10.87 | 0 | * | 0.00 | % | (8.92 | )% | |||||||||||
| 2021 | 73 | 11.93 | 869 | 2.49 | % | 4.76 | % | |||||||||||||
| 2020 | 58 | 11.39 | 660 | 0.00 | % | 7.57 | % | |||||||||||||
| Empower International Index Fund, Investor Class | ||||||||||||||||||||
| 2023 | 335 | 16.13 | 5,403 | 2.35 | % | 17.52 | % | |||||||||||||
| 2022 | 330 | 13.73 | 4,531 | 1.77 | % | (14.74 | )% | |||||||||||||
| 2021 | 317 | 16.10 | 5,105 | 2.21 | % | 10.75 | % | |||||||||||||
| 2020 | 225 | 14.54 | 3,267 | 17.50 | % | 7.52 | % | |||||||||||||
| 2019 | 0 | * | 13.54 | 1 | 0.50 | % | 21.25 | % | ||||||||||||
| Empower International Value Fund, Investor Class | ||||||||||||||||||||
| 2023 | 255 | 17.27 | 4,410 | 1.14 | % | 18.03 | % | |||||||||||||
| 2022 | 438 | 14.63 | 6,403 | 1.21 | % | (15.18 | )% | |||||||||||||
| 2021 | 441 | 17.25 | 7,603 | 2.06 | % | 10.83 | % | |||||||||||||
| 2020 | 340 | 15.56 | 5,286 | 1.06 | % | 9.76 | % | |||||||||||||
| 2019 | 363 | 14.18 | 5,149 | 1.25 | % | 22.07 | % | |||||||||||||
112
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Large Cap Growth Fund, Investor Class | ||||||||||||||||||||
| 2023 | 11 | $ | 75.36 | $ | 804 | 0.10 | % | 33.57 | % | |||||||||||
| 2022 | 8 | 56.42 | 428 | 0.39 | % | (23.16 | )% | |||||||||||||
| 2021 | 5 | 73.42 | 341 | 1.00 | % | 20.84 | % | |||||||||||||
| 2020 | 3 | 60.76 | 180 | 4.14 | % | 41.45 | % | |||||||||||||
| 2019 | 0 | * | 42.94 | 19 | 0.09 | % | 36.21 | % | ||||||||||||
| Empower Large Cap Value Fund, Investor II Class | ||||||||||||||||||||
| 2023 | 177 | 15.23 | 2,697 | 1.12 | % | 12.51 | % | |||||||||||||
| 2022 | 180 | 13.53 | 2,438 | 1.67 | % | (3.41 | )% | |||||||||||||
| 2021 | 200 | 14.01 | 2,804 | 1.14 | % | 26.15 | % | |||||||||||||
| 2020 | 216 | 11.11 | 2,403 | 1.26 | % | 3.90 | % | |||||||||||||
| 2019 | 228 | 10.69 | 2,436 | 0.60 | % | 6.91 | % | |||||||||||||
| Empower Lifetime 2015 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 42 | 14.87 | 617 | 2.95 | % | 10.33 | % | |||||||||||||
| 2022 | 42 | 13.48 | 566 | 1.39 | % | (12.27 | )% | |||||||||||||
| 2021 | 78 | 15.36 | 1,204 | 1.84 | % | 8.48 | % | |||||||||||||
| 2020 | 115 | 14.16 | 1,625 | 1.99 | % | 10.98 | % | |||||||||||||
| 2019 | 108 | 12.76 | 1,381 | 1.35 | % | 15.17 | % | |||||||||||||
| Empower Lifetime 2020 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 43 | 15.31 | 652 | 2.72 | % | 10.97 | % | |||||||||||||
| 2022 | 46 | 13.80 | 640 | 2.06 | % | (12.95 | )% | |||||||||||||
| 2021 | 46 | 15.85 | 722 | 2.29 | % | 9.17 | % | |||||||||||||
| 2020 | 47 | 14.52 | 675 | 2.33 | % | 11.29 | % | |||||||||||||
| 2019 | 38 | 13.05 | 492 | 1.84 | % | 16.44 | % | |||||||||||||
113
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Lifetime 2025 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 500 | $ | 15.91 | $ | 7,959 | 2.37 | % | 11.91 | % | |||||||||||
| 2022 | 536 | 14.21 | 7,624 | 1.83 | % | (13.83 | )% | |||||||||||||
| 2021 | 347 | 16.49 | 5,724 | 2.29 | % | 10.16 | % | |||||||||||||
| 2020 | 317 | 14.97 | 4,743 | 2.33 | % | 12.24 | % | |||||||||||||
| 2019 | 305 | 13.34 | 4,074 | 1.84 | % | 18.01 | % | |||||||||||||
| Empower Lifetime 2030 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 217 | 16.74 | 3,637 | 2.73 | % | 13.07 | % | |||||||||||||
| 2022 | 192 | 14.80 | 2,839 | 1.94 | % | (14.62 | )% | |||||||||||||
| 2021 | 170 | 17.34 | 2,942 | 2.57 | % | 11.60 | % | |||||||||||||
| 2020 | 153 | 15.54 | 2,377 | 2.38 | % | 12.59 | % | |||||||||||||
| 2019 | 119 | 13.80 | 1,637 | 2.07 | % | 20.01 | % | |||||||||||||
| Empower Lifetime 2035 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 158 | 17.52 | 2,760 | 2.04 | % | 14.40 | % | |||||||||||||
| 2022 | 142 | 15.31 | 2,169 | 1.59 | % | (15.62 | )% | |||||||||||||
| 2021 | 114 | 18.15 | 2,074 | 2.39 | % | 13.46 | % | |||||||||||||
| 2020 | 110 | 15.99 | 1,757 | 2.31 | % | 13.27 | % | |||||||||||||
| 2019 | 89 | 14.12 | 1,250 | 1.50 | % | 22.17 | % | |||||||||||||
| Empower Lifetime 2040 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 109 | 18.32 | 2,002 | 2.40 | % | 15.73 | % | |||||||||||||
| 2022 | 108 | 15.83 | 1,710 | 1.78 | % | (16.30 | )% | |||||||||||||
| 2021 | 91 | 18.91 | 1,725 | 2.95 | % | 15.11 | % | |||||||||||||
| 2020 | 87 | 16.43 | 1,424 | 2.85 | % | 13.61 | % | |||||||||||||
| 2019 | 53 | 14.46 | 771 | 1.95 | % | 23.82 | % | |||||||||||||
114
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Lifetime 2045 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 55 | $ | 18.54 | $ | 1,022 | 1.82 | % | 16.73 | % | |||||||||||
| 2022 | 55 | 15.89 | 874 | 1.29 | % | (16.82 | )% | |||||||||||||
| 2021 | 55 | 19.10 | 1,058 | 2.37 | % | 16.02 | % | |||||||||||||
| 2020 | 71 | 16.46 | 1,170 | 2.47 | % | 13.92 | % | |||||||||||||
| 2019 | 47 | 14.45 | 675 | 1.58 | % | 24.59 | % | |||||||||||||
| Empower Lifetime 2050 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 21 | 18.77 | 397 | 1.86 | % | 17.05 | % | |||||||||||||
| 2022 | 29 | 16.04 | 464 | 1.76 | % | (16.95 | )% | |||||||||||||
| 2021 | 25 | 19.31 | 487 | 3.05 | % | 16.15 | % | |||||||||||||
| 2020 | 25 | 16.63 | 415 | 2.33 | % | 13.96 | % | |||||||||||||
| 2019 | 15 | 14.59 | 213 | 1.53 | % | 24.82 | % | |||||||||||||
| Empower Lifetime 2055 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 31 | 18.53 | 572 | 1.28 | % | 17.06 | % | |||||||||||||
| 2022 | 35 | 15.83 | 556 | 1.12 | % | (17.13 | )% | |||||||||||||
| 2021 | 23 | 19.10 | 435 | 2.17 | % | 16.10 | % | |||||||||||||
| 2020 | 24 | 16.45 | 394 | 1.19 | % | 13.95 | % | |||||||||||||
| 2019 | 34 | 14.44 | 485 | 2.24 | % | 24.69 | % | |||||||||||||
| Empower Lifetime 2060 Fund, Investor Class | ||||||||||||||||||||
| 2023 | 0 | * | 13.78 | 1 | 4.67 | % | 16.97 | % | ||||||||||||
| 2022 | 0 | * | 11.78 | 0 | * | 2.92 | % | (17.10 | )% | |||||||||||
| 2021 | 0 | * | 14.21 | 0 | * | 9.41 | % | 0.00 | % | |||||||||||
| 2020 | - | 12.26 | - | 0.00 | % | 0.00 | % | |||||||||||||
115
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Mid Cap Value Fund, Investor Class | ||||||||||||||||||||
| 2023 | 25 | $ | 18.40 | $ | 468 | 0.51 | % | 15.15 | % | |||||||||||
| 2022 | 25 | 15.98 | 392 | 0.61 | % | (11.76 | )% | |||||||||||||
| 2021 | 19 | 18.11 | 345 | 27.50 | % | 30.17 | % | |||||||||||||
| 2020 | 8 | 13.91 | 105 | 0.92 | % | (0.35 | )% | |||||||||||||
| 2019 | 6 | 13.96 | 79 | 0.17 | % | 20.49 | % | |||||||||||||
| Empower Moderate Profile Fund, Investor Class | ||||||||||||||||||||
| 2023 | 17 | 14.58 | 244 | 3.83 | % | 11.93 | % | |||||||||||||
| 2022 | 12 | 13.03 | 159 | 1.31 | % | (12.02 | )% | |||||||||||||
| 2021 | 6 | 14.81 | 93 | 3.03 | % | 11.98 | % | |||||||||||||
| 2020 | 26 | 13.23 | 338 | 1.59 | % | 11.23 | % | |||||||||||||
| 2019 | 26 | 11.89 | 311 | 2.04 | % | 17.52 | % | |||||||||||||
| Empower Moderately Aggressive Profile Fund, Investor Class | ||||||||||||||||||||
| 2023 | 9 | 15.34 | 132 | 2.63 | % | 13.60 | % | |||||||||||||
| 2022 | 7 | 13.51 | 96 | 0.92 | % | (13.09 | )% | |||||||||||||
| 2021 | 2 | 15.54 | 30 | 4.87 | % | 14.25 | % | |||||||||||||
| 2020 | 6 | 13.60 | 83 | 2.01 | % | 11.77 | % | |||||||||||||
| 2019 | 9 | 12.17 | 109 | 1.69 | % | 20.35 | % | |||||||||||||
| Empower Moderately Conservative Profile Fund, Investor Class | ||||||||||||||||||||
| 2023 | 238 | 13.55 | 3,223 | 3.45 | % | 9.90 | % | |||||||||||||
| 2022 | 204 | 12.33 | 2,518 | 1.74 | % | (10.82 | )% | |||||||||||||
| 2021 | 151 | 13.83 | 2,094 | 3.77 | % | 9.13 | % | |||||||||||||
| 2020 | 111 | 12.67 | 1,401 | 1.78 | % | 9.52 | % | |||||||||||||
| 2019 | 12 | 11.57 | 133 | 1.97 | % | 14.45 | % | |||||||||||||
116
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Multi-Sector Bond Fund, Investor Class | ||||||||||||||||||||
| 2023 | 36 | $ | 44.67 | $ | 1,610 | 5.39 | % | 7.88 | % | |||||||||||
| 2022 | 6 | 41.41 | 236 | 2.31 | % | (11.42 | )% | |||||||||||||
| 2021 | 6 | 46.74 | 281 | 2.24 | % | 0.89 | % | |||||||||||||
| 2020 | 9 | 46.33 | 403 | 2.88 | % | 9.09 | % | |||||||||||||
| 2019 | 13 | 42.47 | 566 | 1.72 | % | 11.74 | % | |||||||||||||
| Empower Real Estate Index Fund, Investor Class | ||||||||||||||||||||
| 2023 | 109 | 16.28 | 1,782 | 1.82 | % | 13.31 | % | |||||||||||||
| 2022 | 108 | 14.37 | 1,551 | 1.75 | % | (26.40 | )% | |||||||||||||
| 2021 | 97 | 19.53 | 1,899 | 0.66 | % | 44.31 | % | |||||||||||||
| 2020 | 22 | 13.53 | 301 | 1.62 | % | (11.57 | )% | |||||||||||||
| 2019 | 18 | 15.30 | 269 | 0.95 | % | 22.40 | % | |||||||||||||
| Empower S&P Mid Cap 400 Index Fund, Investor Class | ||||||||||||||||||||
| 2023 | 381 | 27.20 | 10,377 | 0.46 | % | 15.76 | % | |||||||||||||
| 2022 | 388 | 23.50 | 9,110 | 0.43 | % | (13.55 | )% | |||||||||||||
| 2021 | 428 | 27.18 | 11,622 | 1.51 | % | 24.01 | % | |||||||||||||
| 2020 | 353 | 21.92 | 7,744 | 3.45 | % | 13.10 | % | |||||||||||||
| 2019 | 84 | 19.38 | 1,621 | 0.32 | % | 25.49 | % | |||||||||||||
| Empower S&P Small Cap 600 Index Fund, Investor Class | ||||||||||||||||||||
| 2023 | 49 | 22.45 | 1,089 | 0.55 | % | 15.47 | % | |||||||||||||
| 2022 | 45 | 19.44 | 866 | 0.52 | % | (16.51 | )% | |||||||||||||
| 2021 | 38 | 23.29 | 886 | 2.61 | % | 25.94 | % | |||||||||||||
| 2020 | 25 | 18.49 | 469 | 2.82 | % | 10.93 | % | |||||||||||||
| 2019 | 2 | 16.67 | 40 | 0.89 | % | 22.36 | % | |||||||||||||
117
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower Short Duration Bond Fund, Investor Class | ||||||||||||||||||||
| 2023 | 215 | $ | 15.73 | $ | 3,376 | 2.34 | % | 5.67 | % | |||||||||||
| 2022 | 227 | 14.89 | 3,384 | 1.28 | % | (4.25 | )% | |||||||||||||
| 2021 | 425 | 15.55 | 6,603 | 1.04 | % | (0.03 | )% | |||||||||||||
| 2020 | 447 | 15.55 | 6,957 | 1.96 | % | 4.65 | % | |||||||||||||
| 2019 | 534 | 14.86 | 7,942 | 2.07 | % | 5.40 | % | |||||||||||||
| Empower Small Cap Growth Fund, Investor Class | ||||||||||||||||||||
| 2023 | 0 | * | 23.07 | 0 | * | 0.00 | % | 15.76 | % | |||||||||||
| 2022 | 0 | * | 19.93 | 0 | * | 0.33 | % | (25.36 | )% | |||||||||||
| 2021 | 0 | * | - | 0 | * | 20.96 | % | 0.00 | % | |||||||||||
| Empower Small Cap Value Fund, Investor Class | ||||||||||||||||||||
| 2023 | 18 | 62.55 | 1,103 | 0.05 | % | 17.81 | % | |||||||||||||
| 2022 | 19 | 53.09 | 1,030 | 0.06 | % | (10.03 | )% | |||||||||||||
| 2021 | 21 | 59.01 | 1,215 | 3.35 | % | 30.67 | % | |||||||||||||
| 2020 | 23 | 45.16 | 1,032 | 0.00 | % | 3.20 | % | |||||||||||||
| 2019 | 22 | 43.76 | 980 | 0.00 | % | 24.67 | % | |||||||||||||
| Empower T. Rowe Price Mid Cap Growth Fund, Investor Class | ||||||||||||||||||||
| 2023 | 33 | 73.49 | 2,437 | 0.00 | % | 19.92 | % | |||||||||||||
| 2022 | 33 | 61.29 | 2,052 | 0.02 | % | (22.79 | )% | |||||||||||||
| 2021 | 36 | 79.38 | 2,860 | 0.18 | % | 14.83 | % | |||||||||||||
| 2020 | 42 | 69.13 | 2,882 | 0.00 | % | 24.10 | % | |||||||||||||
| 2019 | 62 | 55.70 | 3,447 | 0.01 | % | 31.28 | % | |||||||||||||
118
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Empower U.S. Government Securities Fund, Investor Class | ||||||||||||||||||||
| 2023 | 27 | $ | 22.35 | $ | 605 | 2.46 | % | 4.44 | % | |||||||||||
| 2022 | 28 | 21.40 | 599 | 0.70 | % | (12.08 | )% | |||||||||||||
| 2021 | 159 | 24.34 | 3,859 | 0.66 | % | (2.15 | )% | |||||||||||||
| 2020 | 3,947 | 24.88 | 3,947 | 0.91 | % | 5.86 | % | |||||||||||||
| 2019 | 140 | 23.50 | 3,279 | 1.55 | % | 6.12 | % | |||||||||||||
| Federated Hermes High Income Bond Fund II | ||||||||||||||||||||
| 2023 | 0 | * | 37.27 | 0 | * | 24.56 | % | 12.71 | % | |||||||||||
| 2022 | 5 | 33.06 | 154 | 5.56 | % | (11.78 | )% | |||||||||||||
| 2021 | 4 | 37.48 | 158 | 4.00 | % | 274.79 | % | |||||||||||||
| Federated Hermes Kaufmann Fund II, Primary Shares | ||||||||||||||||||||
| 2023 | 8 | 37.93 | 290 | 0.00 | % | 15.23 | % | |||||||||||||
| 2022 | 5 | 32.92 | 162 | 0.00 | % | (30.09 | )% | |||||||||||||
| 2021 | 4 | 47.09 | 201 | 0.00 | % | 2.51 | % | |||||||||||||
| 2020 | 6 | 45.93 | 262 | 0.00 | % | 28.81 | % | |||||||||||||
| 2019 | 6 | 35.66 | 207 | 0.00 | % | 33.82 | % | |||||||||||||
| Fidelity VIP Contrafund Portfolio, Service Class 2 | ||||||||||||||||||||
| 2023 | 26 | 69.92 | 1,814 | 0.27 | % | 33.12 | % | |||||||||||||
| 2022 | 25 | 52.52 | 1,328 | 0.29 | % | (26.49 | )% | |||||||||||||
| 2021 | 25 | 71.45 | 1,766 | 0.03 | % | 27.51 | % | |||||||||||||
| 2020 | 35 | 56.03 | 1,949 | 0.04 | % | 30.22 | % | |||||||||||||
| 2019 | 31 | 43.03 | 1,336 | 0.23 | % | 31.28 | % | |||||||||||||
| Fidelity VIP Emerging Markets Portfolio, Service Class 2 | ||||||||||||||||||||
| 2023 | 148 | 11.99 | 1,777 | 1.97 | % | 9.49 | % | |||||||||||||
| 2022 | 147 | 10.95 | 1,612 | 1.56 | % | (20.37 | )% | |||||||||||||
| 2021 | 143 | 13.75 | 1,970 | 2.11 | % | (2.41 | )% | |||||||||||||
| 2020 | 7 | 14.09 | 104 | 0.00 | % | 30.88 | % | |||||||||||||
119
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Fidelity VIP Growth Portfolio, Service Class 2 | ||||||||||||||||||||
| 2023 | 1 | $ | 56.12 | $ | 40 | 0.00 | % | 35.89 | % | |||||||||||
| 2022 | 1 | 41.30 | 34 | 0.33 | % | (24.63 | )% | |||||||||||||
| 2021 | 1 | 54.80 | 53 | 0.00 | % | 22.88 | % | |||||||||||||
| 2020 | 1 | 44.59 | 48 | 0.05 | % | 43.53 | % | |||||||||||||
| 2019 | 36 | 31.07 | 1,109 | 0.05 | % | 33.98 | % | |||||||||||||
| Fidelity VIP Index 500 Portfolio, Initial Class | ||||||||||||||||||||
| 2023 | 681 | 11.84 | 8,057 | 1.49 | % | 26.19 | % | |||||||||||||
| 2022 | 601 | 9.38 | 5,638 | 1.49 | % | (18.21 | )% | |||||||||||||
| 2021 | 522 | 11.47 | 5,988 | 0.00 | % | 14.68 | % | |||||||||||||
| Fidelity VIP Investment Grade Bond Portfolio, Service Class 2 | ||||||||||||||||||||
| 2023 | 8 | 23.46 | 191 | 2.56 | % | 6.00 | % | |||||||||||||
| 2022 | 8 | 22.13 | 173 | 2.04 | % | (13.21 | )% | |||||||||||||
| 2021 | 11 | 25.50 | 282 | 1.82 | % | (0.90 | )% | |||||||||||||
| 2020 | 15 | 25.73 | 394 | 2.21 | % | 9.16 | % | |||||||||||||
| 2019 | 16 | 23.57 | 370 | 2.54 | % | 9.40 | % | |||||||||||||
| Fidelity VIP Mid Cap Portfolio, Service Class 2 | ||||||||||||||||||||
| 2023 | 3 | 83.40 | 280 | 0.36 | % | 14.80 | % | |||||||||||||
| 2022 | 4 | 72.65 | 308 | 0.26 | % | (14.97 | )% | |||||||||||||
| 2021 | 5 | 85.44 | 406 | 0.37 | % | 25.31 | % | |||||||||||||
| 2020 | 8 | 68.18 | 519 | 0.36 | % | 17.86 | % | |||||||||||||
| 2019 | 13 | 57.85 | 759 | 56.00 | % | 23.17 | % | |||||||||||||
120
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares | ||||||||||||||||||||
| 2023 | 1 | $ | 25.68 | $ | 21 | 0.30 | % | 11.42 | % | |||||||||||
| 2022 | 4 | 23.05 | 89 | 0.71 | % | (9.99 | )% | |||||||||||||
| 2021 | 4 | 25.60 | 98 | 0.49 | % | 30.95 | % | |||||||||||||
| 2020 | 4 | 19.55 | 76 | 0.68 | % | 8.38 | % | |||||||||||||
| 2019 | 6 | 18.04 | 103 | 0.78 | % | 31.52 | % | |||||||||||||
| Goldman Sachs VIT Multi-Strategy Alternatives Portfolio, Service Shares | ||||||||||||||||||||
| 2023 | - | - | - | 0.00 | % | 7.77 | % | |||||||||||||
| 2022 | 0 | * | 11.38 | 6 | 2.42 | % | (6.54 | )% | ||||||||||||
| 2021 | 1 | 12.17 | 9 | 1.47 | % | 4.84 | % | |||||||||||||
| 2020 | 1 | 11.61 | 9 | 2.58 | % | 6.72 | % | |||||||||||||
| 2019 | 1 | 10.87 | 5 | 2.67 | % | 8.82 | % | |||||||||||||
| Invesco Global Real Estate Fund, Series I | ||||||||||||||||||||
| 2023 | 28 | 40.99 | 1,139 | 1.55 | % | 9.05 | % | |||||||||||||
| 2022 | 27 | 37.59 | 1,002 | 2.93 | % | (24.94 | )% | |||||||||||||
| 2021 | 27 | 50.08 | 1,364 | 2.38 | % | 25.71 | % | |||||||||||||
| 2020 | 1,418 | 39.83 | 1,418 | 5.94 | % | (12.32 | )% | |||||||||||||
| 2019 | 27 | 45.43 | 1,224 | 4.23 | % | 23.00 | % | |||||||||||||
| Invesco V.I. Core Equity Fund, Series I | ||||||||||||||||||||
| 2023 | 0 | * | 39.25 | 18 | 0.72 | % | 23.36 | % | ||||||||||||
| 2022 | 1 | 31.82 | 16 | 0.96 | % | (20.54 | )% | |||||||||||||
| 2021 | 1 | 40.04 | 26 | 0.64 | % | 27.74 | % | |||||||||||||
| 2020 | 25 | 31.35 | 25 | 1.44 | % | 13.87 | % | |||||||||||||
| 2019 | 1 | 27.53 | 22 | 0.94 | % | 28.96 | % | |||||||||||||
121
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Invesco V.I. EQV International Equity Fund, Series I | ||||||||||||||||||||
| 2023 | 122 | $ | 22.83 | $ | 2,792 | 0.20 | % | 18.15 | % | |||||||||||
| 2022 | 131 | 19.32 | 2,537 | 1.76 | % | (18.31 | )% | |||||||||||||
| 2021 | 135 | 23.65 | 3,201 | 1.14 | % | 5.89 | % | |||||||||||||
| 2020 | 175 | 22.34 | 3,913 | 2.55 | % | 13.98 | % | |||||||||||||
| 2019 | 193 | 19.60 | 3,789 | 1.61 | % | 28.57 | % | |||||||||||||
| Invesco V.I. Health Care Fund, Series I | ||||||||||||||||||||
| 2023 | 2 | 46.75 | 113 | 0.00 | % | 3.02 | % | |||||||||||||
| 2022 | 1 | 45.37 | 39 | 0.00 | % | (13.30 | )% | |||||||||||||
| 2021 | 1 | 52.34 | 47 | 0.24 | % | 12.28 | % | |||||||||||||
| 2020 | 71 | 46.61 | 58 | 0.35 | % | 14.44 | % | |||||||||||||
| 2019 | 2 | 40.73 | 64 | 0.03 | % | 32.50 | % | |||||||||||||
| Invesco V.I. Main Street Mid Cap Fund | ||||||||||||||||||||
| 2023 | - | - | - | 0.00 | % | 14.47 | % | |||||||||||||
| 2022 | - | - | 0 | * | 0.00 | % | (14.26 | )% | ||||||||||||
| 2021 | 14 | 38.00 | 515 | 0.46 | % | 23.24 | % | |||||||||||||
| 2020 | 13 | 30.84 | 395 | 0.87 | % | 9.27 | % | |||||||||||||
| 2019 | 9 | 28.22 | 247 | 0.51 | % | 25.28 | % | |||||||||||||
| Invesco V.I. Main Street Small Cap Fund | ||||||||||||||||||||
| 2023 | 30 | 20.89 | 634 | 1.25 | % | 18.13 | % | |||||||||||||
| 2022 | 29 | 17.68 | 515 | 0.53 | % | (15.83 | )% | |||||||||||||
| 2021 | 28 | 21.01 | 586 | 0.34 | % | 22.55 | % | |||||||||||||
| 2020 | 346 | 17.14 | 346 | 0.76 | % | 19.89 | % | |||||||||||||
| 2019 | 33 | 14.30 | 471 | 0.25 | % | 26.47 | % | |||||||||||||
122
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Janus Aspen Series Janus Henderson Flexible Bond Portfolio | ||||||||||||||||||||
| 2023 | 60 | $ | 28.78 | $ | 1,726 | 4.24 | % | 5.50 | % | |||||||||||
| 2022 | 89 | 27.28 | 2,430 | 2.44 | % | (13.66 | )% | |||||||||||||
| 2021 | 93 | 31.60 | 2,936 | 2.00 | % | (0.90 | )% | |||||||||||||
| 2020 | 87 | 31.88 | 2,760 | 3.27 | % | 10.48 | % | |||||||||||||
| 2019 | 64 | 28.86 | 1,853 | 3.61 | % | 9.57 | % | |||||||||||||
| Janus Aspen Series Janus Henderson Overseas Portfolio, Institutional Shares | ||||||||||||||||||||
| 2023 | 2 | 42.04 | 77 | 1.53 | % | 10.87 | % | |||||||||||||
| 2022 | 2 | 37.91 | 71 | 1.78 | % | (8.60 | )% | |||||||||||||
| 2021 | 2 | 41.48 | 79 | 1.16 | % | 13.58 | % | |||||||||||||
| 2020 | 2 | 36.52 | 70 | 1.50 | % | 16.28 | % | |||||||||||||
| 2019 | 2 | 31.41 | 62 | 1.92 | % | 27.02 | % | |||||||||||||
| Janus Henderson Balanced Fund, Class I | ||||||||||||||||||||
| 2023 | 61 | 49.00 | 3,010 | 2.05 | % | 15.41 | % | |||||||||||||
| 2022 | 66 | 42.46 | 2,787 | 1.29 | % | (16.40 | )% | |||||||||||||
| 2021 | 61 | 50.79 | 3,082 | 0.87 | % | 17.20 | % | |||||||||||||
| 2020 | 79 | 43.34 | 3,426 | 2.68 | % | 14.32 | % | |||||||||||||
| 2019 | 71 | 37.91 | 2,698 | 2.00 | % | 22.59 | % | |||||||||||||
| Janus Henderson Enterprise Fund, Class I | ||||||||||||||||||||
| 2023 | 25 | 21.81 | 544 | 0.15 | % | 18.07 | % | |||||||||||||
| 2022 | 33 | 18.47 | 602 | 0.18 | % | (15.94 | )% | |||||||||||||
| 2021 | 33 | 21.98 | 725 | 0.36 | % | 16.83 | % | |||||||||||||
| 2020 | 41 | 18.81 | 776 | 0.13 | % | 19.50 | % | |||||||||||||
| 2019 | 39 | 15.74 | 611 | 0.13 | % | 35.48 | % | |||||||||||||
123
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Janus Henderson Forty Fund, Class I | ||||||||||||||||||||
| 2023 | 20 | $ | 99.50 | $ | 1,945 | 0.22 | % | 39.96 | % | |||||||||||
| 2022 | 18 | 71.09 | 1,262 | 0.19 | % | (33.55 | )% | |||||||||||||
| 2021 | 17 | 106.99 | 1,823 | 0.00 | % | 22.90 | % | |||||||||||||
| 2020 | 32 | 87.05 | 2,763 | 0.80 | % | 39.40 | % | |||||||||||||
| 2019 | 41 | 62.45 | 2,541 | 0.16 | % | 37.16 | % | |||||||||||||
| Janus Henderson Global Research Fund, Class I | ||||||||||||||||||||
| 2023 | 18 | 24.16 | 426 | 1.21 | % | 26.78 | % | |||||||||||||
| 2022 | 7 | 19.06 | 124 | 1.05 | % | (19.41 | )% | |||||||||||||
| 2021 | 7 | 23.65 | 171 | 0.41 | % | 18.09 | % | |||||||||||||
| 2020 | 16 | 20.03 | 319 | 0.70 | % | 20.08 | % | |||||||||||||
| 2019 | 44 | 16.68 | 734 | 0.95 | % | 29.04 | % | |||||||||||||
| Janus Henderson VIT Global Technology and Innovation Portfolio, Institutional Shares | ||||||||||||||||||||
| 2023 | 24 | 106.22 | 2,576 | 0.00 | % | 54.55 | % | |||||||||||||
| 2022 | 25 | 68.73 | 1,698 | 0.00 | % | (36.95 | )% | |||||||||||||
| 2021 | 27 | 109.01 | 2,989 | 0.22 | % | 18.01 | % | |||||||||||||
| 2020 | 25 | 92.37 | 2,347 | 0.00 | % | 51.18 | % | |||||||||||||
| 2019 | 29 | 61.10 | 1,764 | 0.41 | % | 45.17 | % | |||||||||||||
| Lord Abbett Series Fund Developing Growth Portfolio | ||||||||||||||||||||
| 2023 | 20 | 17.83 | 362 | 0.00 | % | 8.17 | % | |||||||||||||
| 2022 | 8 | 16.48 | 126 | 0.00 | % | (35.98 | )% | |||||||||||||
| 2021 | 9 | 25.75 | 242 | 0.00 | % | (2.75 | )% | |||||||||||||
| 2020 | 8 | 26.47 | 222 | 0.00 | % | 72.57 | % | |||||||||||||
| 2019 | 9 | 15.34 | 131 | 0.00 | % | 31.77 | % | |||||||||||||
124
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Lord Abbett Series Fund Total Return Portfolio | ||||||||||||||||||||
| 2023 | 6 | $ | 10.73 | $ | 61 | 4.45 | % | 6.34 | % | |||||||||||
| 2022 | 5 | 10.10 | 54 | 2.55 | % | (14.05 | )% | |||||||||||||
| 2021 | 2 | 11.75 | 20 | 1.97 | % | (0.24 | )% | |||||||||||||
| 2020 | 2 | 11.77 | 21 | 3.76 | % | 7.43 | % | |||||||||||||
| 2019 | 1 | 10.97 | 7 | 3.00 | % | 8.41 | % | |||||||||||||
| LVIP JPMorgan Small Cap Core Fund, Standard Class | ||||||||||||||||||||
| 2023 | 0 | * | 17.74 | 0 | * | 1.38 | % | 13.10 | % | |||||||||||
| 2022 | 0 | * | 15.69 | 0 | * | 0.31 | % | (20.28 | )% | |||||||||||
| LVIP JPMorgan U.S. Equity Fund, Standard Class | ||||||||||||||||||||
| 2023 | 0 | * | 23.39 | 0 | * | 1.55 | % | 27.16 | % | |||||||||||
| 2022 | 0 | * | 18.40 | 0 | * | 0.37 | % | (19.19 | )% | |||||||||||
| MFS Blended Research Small Cap Equity Portfolio, Initial Class | ||||||||||||||||||||
| 2023 | 0 | * | 17.13 | 0 | * | 0.01 | % | 18.96 | % | |||||||||||
| 2022 | 1 | 14.40 | 9 | 0.78 | % | (18.37 | )% | |||||||||||||
| 2021 | 1 | 17.64 | 14 | 0.84 | % | 29.64 | % | |||||||||||||
| 2020 | 1 | 13.60 | 16 | 1.31 | % | 2.23 | % | |||||||||||||
| 2019 | - | 13.30 | 6 | 0.66 | % | 26.77 | % | |||||||||||||
| MFS Global Real Estate Portfolio, Initial Class | ||||||||||||||||||||
| 2023 | 22 | 14.33 | 320 | 0.86 | % | 11.46 | % | |||||||||||||
| 2022 | 18 | 12.86 | 228 | 1.64 | % | (26.94 | )% | |||||||||||||
| 2021 | 13 | 17.60 | 232 | 0.91 | % | 30.12 | % | |||||||||||||
| 2020 | 3 | 13.52 | 35 | 0.00 | % | 1.49 | % | |||||||||||||
125
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| MFS Growth Series, Initial Class | ||||||||||||||||||||
| 2023 | 0 | * | $ | 20.25 | $ | 0 | * | 0.00 | % | 35.86 | % | |||||||||
| 2022 | 1 | 14.90 | 8 | 0.00 | % | (31.64 | )% | |||||||||||||
| 2021 | 1 | 21.80 | 21 | 0.00 | % | 23.53 | % | |||||||||||||
| 2020 | 1 | 17.65 | 18 | 0.00 | % | 31.90 | % | |||||||||||||
| 2019 | 1 | 13.38 | 9 | 0.00 | % | 38.15 | % | |||||||||||||
| MFS International Growth Portfolio, Initial Class | ||||||||||||||||||||
| 2023 | 180 | 13.30 | 2,389 | 1.10 | % | 14.72 | % | |||||||||||||
| 2022 | 173 | 11.60 | 2,009 | 0.62 | % | (14.95 | )% | |||||||||||||
| 2021 | 169 | 13.64 | 2,305 | 0.48 | % | 9.27 | % | |||||||||||||
| 2020 | 38 | 12.48 | 470 | 0.00 | % | 15.84 | % | |||||||||||||
| MFS Mid Cap Growth Series, Initial Class | ||||||||||||||||||||
| 2023 | 15 | 21.82 | 320 | 0.00 | % | 21.32 | % | |||||||||||||
| 2022 | 26 | 17.99 | 465 | 0.00 | % | (28.70 | )% | |||||||||||||
| 2021 | 38 | 25.23 | 954 | 0.00 | % | 14.11 | % | |||||||||||||
| 2020 | 22 | 22.11 | 482 | 0.00 | % | 36.48 | % | |||||||||||||
| MFS Mid Cap Value Portfolio, Initial Class | ||||||||||||||||||||
| 2023 | 4 | 17.84 | 74 | 1.60 | % | 12.73 | % | |||||||||||||
| 2022 | 4 | 15.83 | 61 | 1.03 | % | (8.79 | )% | |||||||||||||
| 2021 | 3 | 17.35 | 54 | 0.88 | % | 30.99 | % | |||||||||||||
| 2020 | 0 | * | 13.25 | 6 | 1.99 | % | 3.87 | % | ||||||||||||
| 2019 | 0 | * | 12.76 | 3 | 1.42 | % | 31.11 | % | ||||||||||||
126
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| MFS Research Series, Initial Class | ||||||||||||||||||||
| 2023 | 0 | * | $ | 24.55 | $ | 0 | * | 0.00 | % | 22.42 | % | |||||||||
| 2022 | 2 | 20.06 | 36 | 0.52 | % | (17.21 | )% | |||||||||||||
| 2021 | 3 | 24.23 | 76 | 0.54 | % | 24.80 | % | |||||||||||||
| 2020 | 3 | 19.41 | 64 | 0.84 | % | 16.59 | % | |||||||||||||
| 2019 | 3 | 16.65 | 54 | 0.68 | % | 32.95 | % | |||||||||||||
| MFS Total Return Bond Series, Initial Class | ||||||||||||||||||||
| 2023 | 262 | 11.10 | 2,910 | 3.20 | % | 7.38 | % | |||||||||||||
| 2022 | 266 | 10.34 | 2,749 | 2.77 | % | (13.93 | )% | |||||||||||||
| 2021 | 272 | 12.01 | 3,266 | 2.23 | % | (0.81 | )% | |||||||||||||
| 2020 | 359 | 12.11 | 4,348 | 3.69 | % | 8.52 | % | |||||||||||||
| 2019 | 379 | 11.16 | 4,228 | 4.05 | % | 10.21 | % | |||||||||||||
| MFS Value Series, Initial Class | ||||||||||||||||||||
| 2023 | 74 | 20.10 | 1,486 | 1.81 | % | 7.93 | % | |||||||||||||
| 2022 | 66 | 18.63 | 1,228 | 1.31 | % | (5.91 | )% | |||||||||||||
| 2021 | 78 | 19.80 | 1,548 | 1.28 | % | 25.45 | % | |||||||||||||
| 2020 | 33 | 15.78 | 520 | 1.69 | % | 3.48 | % | |||||||||||||
| 2019 | 29 | 15.25 | 436 | 2.34 | % | 29.80 | % | |||||||||||||
| Neuberger Berman AMT Mid Cap Growth Portfolio, Class I | ||||||||||||||||||||
| 2023 | 0 | * | 39.85 | 12 | 0.00 | % | 18.15 | % | ||||||||||||
| 2022 | 0 | * | 33.73 | 11 | 0.00 | % | (28.73 | )% | ||||||||||||
| 2021 | 0 | * | 47.33 | 18 | 0.00 | % | 12.99 | % | ||||||||||||
| 2020 | 0 | * | 41.89 | 16 | 0.00 | % | 39.98 | % | ||||||||||||
| 2019 | 0 | * | 29.94 | 15 | 0.00 | % | 32.75 | % | ||||||||||||
127
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio, Class I | ||||||||||||||||||||
| 2023 | - | $ | 33.44 | $ | 0 | * | 1.52 | % | 11.00 | % | ||||||||||
| 2022 | - | 30.13 | 0 | * | 0.00 | % | (9.75 | )% | ||||||||||||
| 2021 | 2 | 33.38 | 78 | 0.61 | % | 32.80 | % | |||||||||||||
| 2020 | 8 | 25.14 | 208 | 1.15 | % | (2.61 | )% | |||||||||||||
| 2019 | 3 | 25.81 | 65 | 0.21 | % | 16.75 | % | |||||||||||||
| Neuberger Berman AMT Sustainable Equity Portfolio, Class I | ||||||||||||||||||||
| 2023 | 4 | 60.38 | 261 | 0.35 | % | 26.90 | % | |||||||||||||
| 2022 | 2 | 47.58 | 76 | 0.43 | % | (18.45 | )% | |||||||||||||
| 2021 | 2 | 58.35 | 88 | 0.42 | % | 23.48 | % | |||||||||||||
| 2020 | 3 | 47.25 | 150 | 0.69 | % | 19.57 | % | |||||||||||||
| 2019 | 3 | 39.52 | 125 | 0.63 | % | 25.88 | % | |||||||||||||
| PIMCO Commodity RealReturn Strategy Portfolio, Admin Class | ||||||||||||||||||||
| 2023 | 6 | 13.72 | 80 | 16.06 | % | (7.85 | )% | |||||||||||||
| 2022 | 5 | 14.89 | 73 | 20.97 | % | 8.61 | % | |||||||||||||
| 2021 | 4 | 13.71 | 51 | 3.15 | % | 37.05 | % | |||||||||||||
| PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | ||||||||||||||||||||
| 2023 | 178 | 10.55 | 1,879 | 2.26 | % | 5.26 | % | |||||||||||||
| 2022 | 174 | 10.02 | 1,743 | 1.49 | % | (11.00 | )% | |||||||||||||
| 2021 | 190 | 11.26 | 2,136 | 5.18 | % | (4.16 | )% | |||||||||||||
| 2020 | 27 | 11.75 | 318 | 2.69 | % | 10.13 | % | |||||||||||||
| 2019 | 1 | 10.67 | 5 | 2.03 | % | 6.14 | % | |||||||||||||
128
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| PIMCO High Yield Portfolio, Admin Class | ||||||||||||||||||||
| 2023 | 47 | $ | 29.66 | $ | 1,402 | 5.67 | % | 12.22 | % | |||||||||||
| 2022 | 37 | 26.43 | 979 | 5.06 | % | (10.28 | )% | |||||||||||||
| 2021 | 38 | 29.46 | 1,114 | 4.48 | % | 3.63 | % | |||||||||||||
| 2020 | 11 | 28.43 | 313 | 5.30 | % | 5.76 | % | |||||||||||||
| 2019 | 8 | 26.88 | 219 | 4.94 | % | 14.73 | % | |||||||||||||
| PIMCO Income Portfolio, Institutional Class | ||||||||||||||||||||
| 2023 | 3 | 10.77 | 32 | 5.58 | % | 6.50 | % | |||||||||||||
| PIMCO Low Duration Portfolio, Admin Class | ||||||||||||||||||||
| 2023 | 224 | 15.94 | 3,568 | 3.57 | % | 4.97 | % | |||||||||||||
| 2022 | 291 | 15.18 | 4,423 | 1.52 | % | (5.74 | )% | |||||||||||||
| 2021 | 532 | 16.11 | 8,568 | 0.52 | % | (0.93 | )% | |||||||||||||
| 2020 | 510 | 16.26 | 8,296 | 1.30 | % | 2.96 | % | |||||||||||||
| 2019 | 509 | 15.79 | 8,037 | 2.76 | % | 4.03 | % | |||||||||||||
| PIMCO Real Return Portfolio, Admin Class | ||||||||||||||||||||
| 2023 | 53 | 20.16 | 1,069 | 2.99 | % | 3.67 | % | |||||||||||||
| 2022 | 46 | 19.44 | 898 | 7.05 | % | (11.90 | )% | |||||||||||||
| 2021 | 55 | 22.07 | 1,224 | 5.08 | % | 5.59 | % | |||||||||||||
| 2020 | 24 | 20.90 | 499 | 1.53 | % | 11.73 | % | |||||||||||||
| 2019 | 22 | 18.71 | 418 | 1.64 | % | 8.44 | % | |||||||||||||
| PIMCO Total Return Portfolio, Admin Class | ||||||||||||||||||||
| 2023 | 396 | 20.62 | 8,173 | 3.57 | % | 5.93 | % | |||||||||||||
| 2022 | 366 | 19.47 | 7,134 | 2.62 | % | (14.30 | )% | |||||||||||||
| 2021 | 367 | 22.72 | 8,347 | 1.83 | % | (1.27 | )% | |||||||||||||
| 2020 | 209 | 23.01 | 4,803 | 2.31 | % | 8.62 | % | |||||||||||||
| 2019 | 198 | 21.18 | 4,202 | 3.01 | % | 8.35 | % | |||||||||||||
129
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Pioneer Real Estate Shares VCT Portfolio, Class I | ||||||||||||||||||||
| 2023 | - | $ | - | $ | - | 1.85 | % | (1.01 | )% | |||||||||||
| 2022 | 12 | 11.52 | 139 | 1.92 | % | (30.84 | )% | |||||||||||||
| 2021 | 18 | 16.66 | 305 | 1.39 | % | 41.05 | % | |||||||||||||
| 2020 | 6 | 11.81 | 75 | 1.88 | % | (7.34 | )% | |||||||||||||
| 2019 | 6 | 12.75 | 71 | 2.32 | % | 28.17 | % | |||||||||||||
| Putnam VT Focused International Equity Fund, Class IA | ||||||||||||||||||||
| 2023 | 1 | 16.27 | 11 | 0.21 | % | 19.56 | % | |||||||||||||
| 2022 | 10 | 13.60 | 142 | 2.04 | % | (17.99 | )% | |||||||||||||
| 2021 | 12 | 16.59 | 198 | 1.05 | % | 12.84 | % | |||||||||||||
| 2020 | 2 | 14.70 | 28 | 0.45 | % | 10.29 | % | |||||||||||||
| 2019 | 2 | 13.33 | 33 | 0.00 | % | 26.92 | % | |||||||||||||
| Putnam VT Global Asset Allocation Fund, Class IA | ||||||||||||||||||||
| 2023 | 0 | * | 16.63 | 0 | * | 0.03 | % | 17.78 | % | |||||||||||
| 2022 | 0 | * | 14.12 | 6 | 1.78 | % | (15.82 | )% | ||||||||||||
| 2021 | 1 | 16.78 | 15 | 0.92 | % | 14.25 | % | |||||||||||||
| 2020 | 1 | 14.68 | 14 | 1.34 | % | 12.58 | % | |||||||||||||
| 2019 | 0 | * | 13.05 | 5 | 0.00 | % | 17.41 | % | ||||||||||||
| Putnam VT High Yield Fund, Class IA | ||||||||||||||||||||
| 2023 | 3 | 28.49 | 90 | 5.34 | % | 12.29 | % | |||||||||||||
| 2022 | 4 | 25.37 | 93 | 5.58 | % | (11.37 | )% | |||||||||||||
| 2021 | 5 | 28.63 | 134 | 6.92 | % | 5.20 | % | |||||||||||||
| 2020 | 24 | 27.21 | 659 | 6.33 | % | 5.52 | % | |||||||||||||
| 2019 | 23 | 25.79 | 598 | 5.99 | % | 14.55 | % | |||||||||||||
130
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Putnam VT Income Fund, Class IB | ||||||||||||||||||||
| 2023 | 22 | $ | 10.83 | $ | 234 | 5.63 | % | 4.69 | % | |||||||||||
| 2022 | 6 | 10.35 | 66 | 5.48 | % | (13.81 | )% | |||||||||||||
| 2021 | 6 | 12.00 | 66 | 1.54 | % | (4.59 | )% | |||||||||||||
| 2020 | 1 | 12.58 | 9 | 10.14 | % | 5.72 | % | |||||||||||||
| 2019 | 54 | 11.90 | 638 | 3.45 | % | 11.90 | % | |||||||||||||
| Putnam VT International Value Fund, Class IA | ||||||||||||||||||||
| 2023 | 68 | 16.92 | 1,155 | 1.51 | % | 19.08 | % | |||||||||||||
| 2022 | 59 | 14.21 | 840 | 2.24 | % | (6.70 | )% | |||||||||||||
| 2021 | 39 | 15.22 | 595 | 1.26 | % | 15.28 | % | |||||||||||||
| 2020 | 19 | 13.21 | 247 | 0.00 | % | 4.23 | % | |||||||||||||
| Putnam VT Large Cap Growth Fund, Class IA | ||||||||||||||||||||
| 2023 | 12 | 33.25 | 394 | 0.00 | % | 44.89 | % | |||||||||||||
| 2022 | 10 | 22.95 | 240 | 0.00 | % | (30.36 | )% | |||||||||||||
| 2021 | 31 | 32.96 | 1,016 | 0.00 | % | 23.00 | % | |||||||||||||
| 2020 | 62 | 26.79 | 1,666 | 0.15 | % | 39.09 | % | |||||||||||||
| 2019 | 0 | * | 19.25 | 6 | 0.00 | % | 37.12 | % | ||||||||||||
| Putnam VT Large Cap Value Fund, Class IA | ||||||||||||||||||||
| 2023 | 30 | 65.51 | 1,958 | 2.21 | % | 15.92 | % | |||||||||||||
| 2022 | 28 | 56.51 | 1,558 | 1.72 | % | (2.87 | )% | |||||||||||||
| 2021 | 19 | 58.18 | 1,100 | 1.28 | % | 27.62 | % | |||||||||||||
| 2020 | 19 | 45.59 | 879 | 1.89 | % | 6.07 | % | |||||||||||||
| 2019 | 12 | 42.98 | 529 | 1.77 | % | 30.73 | % | |||||||||||||
131
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Putnam VT Research Fund, Class IA | ||||||||||||||||||||
| 2023 | 0 | * | $ | 26.57 | $ | 0 | * | 0.00 | % | 29.21 | % | |||||||||
| 2022 | 30 | 20.56 | 627 | 0.81 | % | (17.10 | )% | |||||||||||||
| 2021 | 27 | 24.80 | 658 | 0.30 | % | 24.46 | % | |||||||||||||
| 2020 | 0 | * | 19.93 | - | 0.00 | % | 0.00 | % | ||||||||||||
| Putnam VT Small Cap Value Fund, Class IA | ||||||||||||||||||||
| 2023 | 0 | * | 20.48 | 4 | 0.37 | % | 24.13 | % | ||||||||||||
| 2022 | 0 | * | 16.50 | 6 | 0.38 | % | (12.80 | )% | ||||||||||||
| 2021 | - | 18.92 | 5 | 0.87 | % | 40.23 | % | |||||||||||||
| 2020 | - | 13.49 | 4 | 1.42 | % | 4.23 | % | |||||||||||||
| 2019 | - | 12.99 | 2 | 0.30 | % | 24.52 | % | |||||||||||||
| Putnam VT Sustainable Future Fund, Class IA | ||||||||||||||||||||
| 2023 | 4 | 61.37 | 267 | 0.00 | % | 28.83 | % | |||||||||||||
| 2022 | 4 | 47.64 | 202 | 0.00 | % | (33.85 | )% | |||||||||||||
| 2021 | 4 | 72.01 | 285 | 0.00 | % | 6.33 | % | |||||||||||||
| 2020 | 4 | 67.72 | 240 | 0.36 | % | 52.98 | % | |||||||||||||
| 2019 | 3 | 44.27 | 140 | 0.77 | % | 30.32 | % | |||||||||||||
| Royce Capital Fund Small Cap Portfolio, Service Class | ||||||||||||||||||||
| 2023 | 3 | 29.09 | 83 | 0.70 | % | 25.53 | % | |||||||||||||
| 2022 | 3 | 23.17 | 67 | 0.08 | % | (9.41 | )% | |||||||||||||
| 2021 | 3 | 25.58 | 76 | 1.07 | % | 28.44 | % | |||||||||||||
| 2020 | 4 | 19.92 | 74 | 0.70 | % | (7.33 | )% | |||||||||||||
| 2019 | 8 | 21.49 | 162 | 0.18 | % | 18.43 | % | |||||||||||||
132
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| T. Rowe Price Blue Chip Growth Portfolio, Class II | ||||||||||||||||||||
| 2023 | 123 | $ | 26.87 | $ | 3,298 | 0.00 | % | 48.96 | % | |||||||||||
| 2022 | 113 | 18.04 | 2,032 | 0.00 | % | (38.66 | )% | |||||||||||||
| 2021 | 128 | 29.40 | 3,776 | 0.00 | % | 17.33 | % | |||||||||||||
| 2020 | 90 | 25.06 | 2,250 | 0.00 | % | 33.92 | % | |||||||||||||
| 2019 | 114 | 18.71 | 2,133 | 0.00 | % | 29.58 | % | |||||||||||||
| VanEck VIP Emerging Markets Fund, Initial Class | ||||||||||||||||||||
| 2023 | 1 | 45.55 | 44 | 3.59 | % | 9.77 | % | |||||||||||||
| 2022 | 1 | 41.49 | 41 | 0.28 | % | (24.37 | )% | |||||||||||||
| 2021 | 1 | 54.87 | 55 | 0.93 | % | (11.87 | )% | |||||||||||||
| 2020 | 1 | 62.26 | 74 | 2.28 | % | 17.26 | % | |||||||||||||
| 2019 | 1 | 53.09 | 61 | 0.43 | % | 30.59 | % | |||||||||||||
| VanEck VIP Global Resources Fund, Class I | ||||||||||||||||||||
| 2023 | 23 | 66.50 | 1,524 | 2.90 | % | (3.58 | )% | |||||||||||||
| 2022 | 19 | 68.97 | 1,340 | 1.60 | % | 8.39 | % | |||||||||||||
| 2021 | 22 | 63.63 | 1,381 | 0.36 | % | 18.92 | % | |||||||||||||
| 2020 | 22 | 53.51 | 1,175 | 1.06 | % | 19.11 | % | |||||||||||||
| 2019 | 23 | 44.92 | 1,012 | 0.00 | % | 11.87 | % | |||||||||||||
| Vanguard VIF Global Bond Index Portfolio | ||||||||||||||||||||
| 2023 | 86 | 9.32 | 799 | 1.84 | % | 6.52 | % | |||||||||||||
| 2022 | 83 | 8.75 | 729 | 2.45 | % | (13.13 | )% | |||||||||||||
| 2021 | 81 | 10.07 | 819 | 0.00 | % | 0.71 | % | |||||||||||||
| Vanguard VIF Total Bond Market Index Portfolio | ||||||||||||||||||||
| 2023 | 300 | 9.25 | 2,769 | 2.02 | % | 5.58 | % | |||||||||||||
| 2022 | 188 | 8.76 | 1,643 | 2.09 | % | (13.21 | )% | |||||||||||||
| 2021 | 81 | 10.09 | 820 | 0.00 | % | 0.91 | % | |||||||||||||
133
| As of December 31 | For
the period ended December 31 | |||||||||||||||||||
| Subaccount | Units
(000's) | Unit
Fair Value | Net
Assets (000's) | Investment Income Ratio (a) | Total Return (b) | |||||||||||||||
| Victory RS Small Cap Growth Equity VIP Series, Class I | ||||||||||||||||||||
| 2023 | 0 | * | $ | 11.44 | $ | 0 | * | 0.00 | % | 20.40 | % | |||||||||
| 2022 | 0 | * | 9.51 | 0 | * | 0.00 | % | (36.36 | )% | |||||||||||
| 2021 | 1 | 14.94 | 12 | 0.00 | % | (10.43 | )% | |||||||||||||
| 2020 | 14 | 16.67 | 14 | 0.00 | % | 38.04 | % | |||||||||||||
| 2019 | 1 | 12.08 | 11 | 0.00 | % | 38.78 | % | |||||||||||||
* The Subaccount has units and/or dollars that round to less than one thousand.
(a) These ratios represent the dividends received by the Subaccount, excluding distributions of capital gains, divided by the daily average net assets. The recognition of investment income by the Subaccount is affected by the timing of the declaration of dividends by the underlying mutual fund in which the Subaccounts invest.
(b) These amounts represent the total return for the periods indicated, are not annualized, and include changes in the value of the underlying mutual fund. The total return does not include any expenses addressed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented.
134
| 7. | SUBSEQUENT EVENTS |
| The Separate Account has evaluated the effects of events subsequent to December 31, 2023, and through the date at which the financial statements were available to be issued. All accounting and disclosure requirements related to subsequent events are included in our financial statements. |
135