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          <other otherDesc="Primary Identifier" value="46600H802"/>
        </identifiers>
        <balance>846811.66800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8963840.23000000</valUSD>
        <pctVal>11.40451298406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Core Equity Class II</name>
        <lei>N/A</lei>
        <title>Ivy VIP Core Equity Class II</title>
        <cusip>46600H406</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H406"/>
          <other otherDesc="Primary Identifier" value="46600H406"/>
        </identifiers>
        <balance>615002.91900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7179236.57000000</valUSD>
        <pctVal>9.133997770753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Small Cap Core Class II</name>
        <lei>549300DZMO2208Z36F25</lei>
        <title>Ivy VIP Small Cap Core Class II</title>
        <cusip>46600H778</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H778"/>
          <other otherDesc="Primary Identifier" value="46600H778"/>
        </identifiers>
        <balance>33782.67000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>363028.57000000</valUSD>
        <pctVal>0.461873921658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP International Core Equity Class II</name>
        <lei>549300DZMO2208Z36F25</lei>
        <title>Ivy VIP International Core Equity Class II</title>
        <cusip>46600H869</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H869"/>
          <other otherDesc="Primary Identifier" value="46600H869"/>
        </identifiers>
        <balance>449550.14600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6115095.77000000</valUSD>
        <pctVal>7.780112911243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Limited-Term Bond Class II</name>
        <lei>549300DZMO2208Z36F25</lei>
        <title>Ivy VIP Limited-Term Bond Class II</title>
        <cusip>46600H687</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H687"/>
          <other otherDesc="Primary Identifier" value="46600H687"/>
        </identifiers>
        <balance>3078804.22200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15252088.24000000</valUSD>
        <pctVal>19.40492399507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Value Class II</name>
        <lei>549300DZMO2208Z36F25</lei>
        <title>Ivy VIP Value Class II</title>
        <cusip>46600H760</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H760"/>
          <other otherDesc="Primary Identifier" value="46600H760"/>
        </identifiers>
        <balance>1177364.16800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6098981.86000000</valUSD>
        <pctVal>7.759611508819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Global Equity Income Class II</name>
        <lei>549300DZMO2208Z36F25</lei>
        <title>Ivy VIP Global Equity Income Class II</title>
        <cusip>46600H505</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H505"/>
          <other otherDesc="Primary Identifier" value="46600H505"/>
        </identifiers>
        <balance>994020.57600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5009963.11000000</valUSD>
        <pctVal>6.374074935700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP High Income Class I</name>
        <lei>N/A</lei>
        <title>Ivy VIP High Income Class I</title>
        <cusip>46600H620</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H620"/>
          <other otherDesc="Primary Identifier" value="46600H620"/>
        </identifiers>
        <balance>251064.76000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>747595.54000000</valUSD>
        <pctVal>0.951150714871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Corporate Bond Class II</name>
        <lei>N/A</lei>
        <title>Ivy VIP Corporate Bond Class II</title>
        <cusip>46600H307</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H307"/>
          <other otherDesc="Primary Identifier" value="46600H307"/>
        </identifiers>
        <balance>2630458.57100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15268759.82000000</valUSD>
        <pctVal>19.42613490978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Government Money Market Class II</name>
        <lei>549300DZMO2208Z36F25</lei>
        <title>Ivy VIP Government Money Market Class II</title>
        <cusip>46600H836</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H836"/>
          <other otherDesc="Primary Identifier" value="46600H836"/>
        </identifiers>
        <balance>3984618.59000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3984618.59000000</valUSD>
        <pctVal>5.069549800106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ivy VIP Mid Cap Growth Class I</name>
        <lei>N/A</lei>
        <title>Ivy VIP Mid Cap Growth Class I</title>
        <cusip>46600H596</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="46600H596"/>
          <other otherDesc="Primary Identifier" value="46600H596"/>
        </identifiers>
        <balance>424734.05300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5604153.46000000</valUSD>
        <pctVal>7.130051323911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Ivy Variable Insurance Portfolios</ncom:nameOfApplicant>
      <ncom:signature>Joseph W. Kauten</ncom:signature>
      <ncom:signerName>Joseph W. Kauten</ncom:signerName>
      <ncom:title>Treasurer, Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
