FINANCIAL STATEMENTS

Transamerica Life Insurance Company

Separate Account VA B

Years Ended December 31, 2016 and 2015

Transamerica Life Insurance Company

Separate Account VA B

Financial Statements

Years Ended December 31, 2016 and 2015

Contents

Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Assets and Liabilities	2
Statements of Operations and Changes in Net Assets	7
Notes to Financial Statements	34

Report of Independent Registered Public Accounting Firm

To the Contract Owners of

Subaccounts of Separate Account VA B and

Board of Directors of

Transamerica Life Insurance Company

In our opinion, for each of the subaccounts of Separate Account VA B indicated in the table below, the accompanying statements of assets and liabilities, and the related statement of operations and change in net assets present fairly, in all material respects, the financial position of each of the subaccounts of Separate Account VA B as of the date indicated in the table, and the results of each of their operations and changes in each of their net assets for each of the periods indicated in the table, in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the management of Transamerica Life Insurance Company. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities as of December 31, 2016 by correspondence with the transfer agents of the investee mutual funds, provide a reasonable basis for our opinions.

AB Balanced Wealth Strategy Class B Shares (1)	TA BlackRock Tactical Allocation Service Class (1)
AB Growth and Income Class B Shares (1)	TA Clarion Global Real Estate Securities Initial Class (1)
AB Large Cap Growth Class B Shares (1)	TA Clarion Global Real Estate Securities Service Class (1)
American Funds - Asset Allocation Class 2 Shares (1)	TA International Moderate Growth Initial Class (1)
American Funds - Bond Class 2 Shares (1)	TA International Moderate Growth Service Class (1)
American Funds - Growth Class 2 Shares (1)	TA Janus Balanced Service Class (1)
American Funds - Growth-Income Class 2 Shares (1)	TA Janus Mid-Cap Growth Initial Class (1)
American Funds - International Class 2 Shares (1)	TA Janus Mid-Cap Growth Service Class (1)
BlackRock Basic Value V.I. Class I Shares (1)	TA Jennison Growth Initial Class (1)
BlackRock Global Allocation V.I. Class I Shares (1)	TA Jennison Growth Service Class (1)
BlackRock High Yield V.I. Class I Shares (1)	TA JPMorgan Core Bond Service Class (1)
Catalyst Dividend Capture VA (1)	TA JPMorgan Enhanced Index Initial Class (1)
Catalyst Insider Buying VA (1)	TA JPMorgan Enhanced Index Service Class (1)
Fidelity® VIP Balanced Service Class 2 (1)	TA JPMorgan Mid Cap Value Service Class (1)
Fidelity® VIP Contrafund® Initial Class (1)	TA JPMorgan Tactical Allocation Service Class (1)
Fidelity® VIP Contrafund® Service Class 2 (1)	TA Legg Mason Dynamic Allocation - Balanced Service Class (1)
Fidelity® VIP Equity-Income Initial Class (1)	TA Legg Mason Dynamic Allocation - Growth Service Class (1)
Fidelity® VIP Equity-Income Service Class 2 (1)	TA Madison Balanced Allocation Service Class (1)
Fidelity® VIP Growth Initial Class (1)	TA Madison Conservative Allocation Service Class (1)
Fidelity® VIP Growth Service Class 2 (1)	TA Madison Diversified Income Service Class (1)
Fidelity® VIP Growth Opportunities Service Class 2 (1)	TA Managed Risk - Balanced ETF Service Class (1)
Fidelity® VIP Mid Cap Initial Class (1)	TA Managed Risk - Conservative ETF Service Class (1)
Fidelity® VIP Mid Cap Service Class 2 (1)	TA Managed Risk - Growth ETF Service Class (1)
Fidelity® VIP Value Strategies Initial Class (1)	TA Market Participation Strategy Service Class (1)
Fidelity® VIP Value Strategies Service Class 2 (1)	TA MFS International Equity Initial Class (1)
Franklin Founding Funds Allocation Class 4 Shares (1)	TA MFS International Equity Service Class (1)
Franklin Income Class 2 Shares (1)	TA Morgan Stanley Capital Growth Initial Class (1)
Franklin Mutual Shares Class 2 Shares (1)	TA Morgan Stanley Capital Growth Service Class (1)
Franklin Templeton Foreign Class 2 Shares (1)	TA Multi-Managed Balanced Initial Class (1)
Invesco V.I. American Franchise Series II Shares (1)	TA Multi-Managed Balanced Service Class (1)
Invesco V.I. Value Opportunities Series II Shares (1)	TA Multi-Manager Alternative Strategies Service Class (1)
Janus Aspen - Enterprise Service Shares (1)	TA PIMCO Tactical - Balanced Service Class (1)
Janus Aspen - Global Research Service Shares (1)	TA PIMCO Tactical - Conservative Service Class (1)
Janus Aspen - Perkins Mid Cap Value Service Shares (1)	TA PIMCO Tactical - Growth Service Class (1)
MFS® New Discovery Service Class (1)	TA PIMCO Total Return Initial Class (1)
MFS® Total Return Service Class (1)	TA PIMCO Total Return Service Class (1)
NVIT Emerging Markets Class D Shares (4)	TA PineBridge Inflation Opportunities Service Class (1)
State Street Total Return V.I.S. Class 3 Shares (1)	TA ProFunds UltraBear Service Class (OAM) (1)
TA AB Dynamic Allocation Initial Class (1)	TA QS Investors Active Asset Allocation - Conservative Service Class (1)
TA AB Dynamic Allocation Service Class (1)	TA QS Investors Active Asset Allocation - Moderate Service Class (1)
TA Aegon Government Money Market Initial Class (1)	TA QS Investors Active Asset Allocation - Moderate Growth Service Class (1)
TA Aegon Government Money Market Service Class (1)	TA Small/Mid Cap Value Initial Class (1)
TA Aegon High Yield Bond Initial Class (1)	TA Small/Mid Cap Value Service Class (1)
TA Aegon High Yield Bond Service Class (1)	TA T. Rowe Price Small Cap Initial Class (1)
TA Aegon U.S. Government Securities Initial Class (1)	TA T. Rowe Price Small Cap Service Class (1)
TA Aegon U.S. Government Securities Service Class (1)	TA Torray Concentrated Growth Initial Class (1)
TA American Funds Managed Risk - Balanced Service Class (2)	TA Torray Concentrated Growth Service Class (1)
TA Asset Allocation - Conservative Initial Class (1)	TA TS&W International Equity Initial Class (1)
TA Asset Allocation - Conservative Service Class (1)	TA TS&W International Equity Service Class (1)
TA Asset Allocation - Growth Initial Class (1)	TA WMC US Growth Initial Class (1)
TA Asset Allocation - Growth Service Class (1)	TA WMC US Growth Service Class (1)
TA Asset Allocation - Moderate Initial Class (1)	Vanguard® Equity Index (1)
TA Asset Allocation - Moderate Service Class (1)	Vanguard® International (1)
TA Asset Allocation - Moderate Growth Initial Class (1)	Vanguard® Mid-Cap Index (1)
TA Asset Allocation - Moderate Growth Service Class (1)	Vanguard® REIT Index (1)
TA Barrow Hanley Dividend Focused Initial Class (1)	Vanguard® Short-Term Investment Grade (1)
TA Barrow Hanley Dividend Focused Service Class (1)	Vanguard® Total Bond Market Index (1)
TA BlackRock Equity Smart Beta 100 Service Class (3)	Voya Global Perspectives Class S Shares (2)
TA BlackRock Global Allocation Service Class (1)	Voya Large Cap Value Class S Shares (2)
TA BlackRock Global Allocation Managed Risk - Balanced Service Class (1)	Voya Strategic Allocation Conservative Class S Shares (2)
TA BlackRock Global Allocation Managed Risk - Growth Service Class (1)	Voya Strategic Allocation Moderate Class S Shares (2)
TA BlackRock Smart Beta 50 Service Class (3)	Wanger International (1)
TA BlackRock Smart Beta 75 Service Class (3)	Wanger USA (1)

(1) Statement of assets and liabilities as of December 31, 2016, and statement of operations and change in net assets for the years ended December 31, 2016 and 2015

(2) Statement of assets and liabilities as of December 31, 2016 and statement of operations and change in net assets for the year ended December 31, 2016 and the period May 1, 2015 (commencement of operations) through December 31, 2015

(3) Statement of assets and liabilities as of December 31, 2016 and statement of operations and change in net assets for the period March 21, 2016 (commencement of operations) through December 31, 2016

(4) Statement of assets and liabilities as of December 31, 2016 and statement of operations and change in net assets for the period August 4, 2016 (commencement of operations) through December 31, 2016

/s/PricewaterhouseCoopers LLP

Chicago, Illinois

April 24, 2017

Transamerica Life Insurance Company

Separate Account VA B

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account			Net Assets		Units Outstanding		Range of Unit Values
AB Balanced Wealth Strategy Class B Shares		9,029,168.460	$	105,004,100	$	94,083,935	$	(78	)	$	94,083,857		44,034,478	$	1.258038	$	12.014964
AB Growth and Income Class B Shares		7,145,146.579		191,580,210		220,284,869		(204	)		220,284,665		86,181,039		1.370953		14.432762
AB Large Cap Growth Class B Shares		653,843.436		20,459,505		28,324,498		(128	)		28,324,370		17,594,877		1.419757		2.286318
American Funds—Asset Allocation Class 2 Shares		29,503,928.946		601,721,330		634,039,433		175			634,039,608		250,143,519		1.449151		12.875039
American Funds—Bond Class 2 Shares		18,995,978.835		207,933,710		202,687,094		91			202,687,185		86,249,797		1.039007		10.243697
American Funds—Growth Class 2 Shares		4,498,962.014		310,264,251		301,070,538		154			301,070,692		68,512,929		1.562645		14.768988
American Funds—Growth-Income Class 2 Shares		7,020,272.568		327,082,987		308,891,993		58			308,892,051		60,127,114		1.641719		14.686895
American Funds—International Class 2 Shares		7,735,580.042		144,181,250		129,648,322		37			129,648,359		49,934,063		0.990422		10.655038
BlackRock Basic Value V.I. Class I Shares		1,451,018.780		20,796,647		22,069,996		(71	)		22,069,925		8,011,814		2.001823		3.411430
BlackRock Global Allocation V.I. Class I Shares		863,544.484		13,320,911		13,393,575		(12	)		13,393,563		7,054,931		1.598086		2.718528
BlackRock High Yield V.I. Class I Shares		665,239.956		4,851,518		4,816,337		22,431			4,838,768		2,044,390		1.990293		2.442628
Catalyst Dividend Capture VA		178,874.601		2,137,449		2,218,045		7			2,218,052		1,558,996		1.304305		1.429243
Catalyst Insider Buying VA		189,771.906		3,268,289		2,561,921		21			2,561,942		1,753,688		1.340545		1.468956
Fidelity® VIP Balanced Service Class 2		20,533,880.316		330,340,691		336,960,976		(80	)		336,960,896		161,273,927		1.355244		13.018170
Fidelity® VIP Contrafund® Initial Class		13,010.036		423,508		431,673		8			431,681		113,495		1.568736		14.354772
Fidelity® VIP Contrafund® Service Class 2		14,679,804.065		449,478,531		476,359,642		61			476,359,703		158,259,292		1.409294		14.088132
Fidelity® VIP Equity-Income Initial Class		2,779.700		54,627		61,070		(1	)		61,069		38,845		1.412115		1.643872
Fidelity® VIP Equity-Income Service Class 2		2,294,043.177		45,824,361		49,230,167		89			49,230,256		27,073,880		1.249471		2.217119
Fidelity® VIP Growth Initial Class		329.569		16,411		19,547		8			19,555		12,155		1.563060		1.847607
Fidelity® VIP Growth Service Class 2		587,256.008		22,929,024		34,319,241		139			34,319,380		22,172,573		1.372161		2.227887
Fidelity® VIP Growth Opportunities Service Class 2		64,907.454		1,260,587		1,992,659		22			1,992,681		1,186,013		1.318888		2.013506
Fidelity® VIP Mid Cap Initial Class		1,538.551		51,961		52,280		—			52,280		21,135		1.457076		14.364630
Fidelity® VIP Mid Cap Service Class 2		9,573,919.426		304,455,790		316,226,559		(37	)		316,226,522		89,788,590		1.412837		14.094151
Fidelity® VIP Value Strategies Initial Class		11,859.938		161,243		187,031		(1	)		187,030		45,032		1.451545		13.167998
Fidelity® VIP Value Strategies Service Class 2		8,085,178.924		102,230,044		128,230,938		46			128,230,984		48,667,743		1.314783		12.914970
Franklin Founding Funds Allocation Class 4 Shares		15,547,797.490		113,068,958		112,099,620		58			112,099,678		59,149,514		1.285967		2.057170
Franklin Income Class 2 Shares		5,416,962.289		80,328,192		83,312,880		(44	)		83,312,836		61,395,564		1.230919		1.437778
Franklin Mutual Shares Class 2 Shares		914,275.433		15,474,555		18,358,651		51			18,358,702		13,977,761		1.180187		1.474499
Franklin Templeton Foreign Class 2 Shares		2,399,270.437		32,993,866		32,654,071		148			32,654,219		33,720,848		0.887600		1.004514
Invesco V.I. American Franchise Series II Shares		125,931.936		4,949,915		6,543,423		47			6,543,470		4,459,627		1.413934		1.550704
Invesco V.I. Value Opportunities Series II Shares		2,842,206.066		16,499,113		18,332,229		78			18,332,307		13,110,788		1.043219		1.750859

See accompanying notes.

2

Transamerica Life Insurance Company

Separate Account VA B

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account			Net Assets		Units Outstanding		Range of Unit Values
Janus Aspen—Enterprise Service Shares		351,328.678	$	14,513,021	$	19,751,698	$	(116	)	$	19,751,582		10,584,742	$	1.186408	$	3.711912
Janus Aspen—Global Research Service Shares		647,227.067		18,580,540		25,804,943		1			25,804,944		23,820,520		0.796839		1.706763
Janus Aspen—Perkins Mid Cap Value Service Shares		184,616.078		2,872,928		2,972,319		(12	)		2,972,307		1,278,394		1.638813		2.411849
MFS® New Discovery Service Class		2,753,868.348		42,676,457		41,335,564		(3	)		41,335,561		20,116,052		1.239496		2.599008
MFS® Total Return Service Class		2,276,720.968		42,937,915		51,932,005		158			51,932,163		30,104,493		1.287309		1.859665
NVIT Emerging Markets Class D Shares		1,947.479		19,565		18,774		—			18,774		1,907		9.832784		9.852693
State Street Total Return V.I.S. Class 3 Shares		3,002,340.993		53,570,384		54,132,208		81			54,132,289		34,109,465		1.190539		11.592712
TA AB Dynamic Allocation Initial Class		2,267,446.106		20,318,143		21,495,389		155			21,495,544		13,620,346		1.063905		1.680861
TA AB Dynamic Allocation Service Class		36,120,995.857		317,708,040		339,898,571		97			339,898,668		181,601,690		0.979889		10.784372
TA Aegon Government Money Market Initial Class		109,373,819.523		109,373,819		109,373,820		116			109,373,936		98,022,427		0.883955		1.328679
TA Aegon Government Money Market Service Class		383,959,335.322		383,959,334		383,959,335		(151	)		383,959,184		218,009,250		0.821228		9.838155
TA Aegon High Yield Bond Initial Class		10,878,897.398		85,230,709		85,399,345		161			85,399,506		40,104,822		1.321828		11.429710
TA Aegon High Yield Bond Service Class		19,546,157.704		155,475,297		155,587,415		43			155,587,458		44,271,533		1.303775		11.146563
TA Aegon U.S. Government Securities Initial Class		6,228,842.092		77,319,080		73,562,625		145			73,562,770		46,351,895		1.061904		1.973476
TA Aegon U.S. Government Securities Service Class		31,779,915.680		394,002,546		384,536,980		27			384,537,007		139,466,169		1.026506		9.902034
TA American Funds Managed Risk—Balanced Service Class		35,616,656.732		349,242,448		362,577,566		13			362,577,579		36,223,701		9.831422		10.236549
TA Asset Allocation—Conservative Initial Class		17,375,408.550		181,735,588		176,881,659		235			176,881,894		110,451,298		1.119868		1.694263
TA Asset Allocation—Conservative Service Class		101,455,588.677		1,047,077,542		1,021,657,778		(133	)		1,021,657,645		491,730,606		1.101287		10.828489
TA Asset Allocation—Growth Initial Class		22,422,129.550		204,190,598		254,491,170		16			254,491,186		145,360,910		1.176730		1.839475
TA Asset Allocation—Growth Service Class		16,400,145.007		164,113,135		184,665,633		(185	)		184,665,448		80,740,471		1.062496		12.147169
TA Asset Allocation—Moderate Initial Class		35,690,493.262		373,007,134		403,302,574		(118	)		403,302,456		237,955,333		1.161654		1.798554
TA Asset Allocation—Moderate Service Class		437,684,450.244		4,891,820,307		4,884,558,465		461			4,884,558,926		1,901,152,605		1.120954		11.173763
TA Asset Allocation—Moderate Growth Initial Class		40,396,893.755		440,623,507		477,491,284		(179	)		477,491,105		272,203,035		1.197111		1.848530
TA Asset Allocation—Moderate Growth Service Class		278,416,493.450		3,131,258,835		3,249,120,479		376			3,249,120,855		1,528,662,864		1.099113		11.659963
TA Barrow Hanley Dividend Focused Initial Class		16,120,422.055		237,134,441		363,999,130		(109	)		363,999,021		160,020,752		1.348495		14.358328
TA Barrow Hanley Dividend Focused Service Class		7,453,471.158		137,957,713		168,373,913		(92	)		168,373,821		60,943,596		1.251247		13.981645
TA BlackRock Equity Smart Beta 100 Service Class		2,183,473.134		23,030,129		23,122,980		(1	)		23,122,979		2,202,649		10.390986		10.590000
TA BlackRock Global Allocation Service Class		95,486,274.263		1,261,818,450		1,268,057,722		(185	)		1,268,057,537		629,799,019		1.105533		11.166514
TA BlackRock Global Allocation Managed Risk—Balanced Service Class		18,341,512.262		177,102,550		162,138,968		(8	)		162,138,960		17,333,758		9.138409		9.625613
TA BlackRock Global Allocation Managed Risk—Growth Service Class		19,469,615.629		187,087,725		168,412,175		(54	)		168,412,121		18,505,605		8.897856		9.372265

See accompanying notes.

3

Transamerica Life Insurance Company

Separate Account VA B

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account			Net Assets		Units Outstanding		Range of Unit Values
TA BlackRock Smart Beta 50 Service Class		4,087,127.865	$	42,081,925	$	41,974,803	$	(4	)	$	41,974,799		4,130,044	$	10.076941	$	10.270000
TA BlackRock Smart Beta 75 Service Class		1,112,806.186		11,436,868		11,506,416		—			11,506,416		1,123,248		10.145639		10.340000
TA BlackRock Tactical Allocation Service Class		96,991,981.190		1,468,278,239		1,444,210,600		376			1,444,210,976		544,782,967		1.221303		11.553302
TA Clarion Global Real Estate Securities Initial Class		3,632,628.333		43,029,757		44,536,023		138			44,536,161		18,463,874		0.977201		10.372372
TA Clarion Global Real Estate Securities Service Class		6,581,712.304		84,623,598		84,311,735		(112	)		84,311,623		36,306,707		0.981129		10.111068
TA International Moderate Growth Initial Class		8,624.415		78,206		80,121		1			80,122		69,400		1.154499		1.173034
TA International Moderate Growth Service Class		59,838,773.040		545,610,234		551,115,100		(175	)		551,114,925		358,429,603		0.879674		10.320954
TA Janus Balanced Service Class		51,725,448.522		665,891,967		687,948,465		(225	)		687,948,240		197,498,662		1.146023		12.248668
TA Janus Mid-Cap Growth Initial Class		2,387,169.108		69,880,046		60,228,277		26			60,228,303		44,776,658		1.071645		11.397285
TA Janus Mid-Cap Growth Service Class		2,609,060.673		76,514,051		63,321,903		(1	)		63,321,902		22,970,554		1.056406		11.101466
TA Jennison Growth Initial Class		18,813,128.302		166,769,549		165,555,529		(17	)		165,555,512		95,799,898		1.288816		15.068576
TA Jennison Growth Service Class		10,464,634.987		102,435,841		88,426,166		(29	)		88,426,137		23,846,550		1.604878		14.683544
TA JPMorgan Core Bond Service Class		16,464,879.572		229,229,571		225,404,201		11			225,404,212		84,929,968		1.022724		10.266455
TA JPMorgan Enhanced Index Initial Class		5,803,716.717		88,711,298		106,614,276		(81	)		106,614,195		46,917,262		1.496650		14.849813
TA JPMorgan Enhanced Index Service Class		2,833,490.226		49,771,243		51,966,211		44			51,966,255		13,075,401		1.473010		14.480829
TA JPMorgan Mid Cap Value Service Class		10,367,804.248		210,237,979		198,647,129		78			198,647,207		52,307,287		1.748540		14.745935
TA JPMorgan Tactical Allocation Service Class		84,266,687.257		1,198,015,191		1,253,888,306		183			1,253,888,489		379,479,465		1.102589		11.050062
TA Legg Mason Dynamic Allocation—Balanced Service Class		104,858,625.201		1,214,035,858		1,174,416,602		150			1,174,416,752		290,004,410		1.069800		10.790923
TA Legg Mason Dynamic Allocation—Growth Service Class		43,996,935.018		540,780,223		513,884,201		(117	)		513,884,084		132,145,826		1.108479		11.067720
TA Madison Balanced Allocation Service Class		9,897,510.860		107,995,686		105,012,590		(49	)		105,012,541		41,735,960		1.186146		11.312215
TA Madison Conservative Allocation Service Class		7,061,606.757		75,133,655		73,017,014		82			73,017,096		34,682,524		1.102036		10.624275
TA Madison Diversified Income Service Class		9,329,640.318		106,309,679		115,967,429		73			115,967,502		55,129,242		1.200168		11.200348
TA Managed Risk—Balanced ETF Service Class		510,636,912.112		5,825,693,967		5,673,176,094		(288	)		5,673,175,806		1,640,125,949		1.128008		11.092061
TA Managed Risk—Conservative ETF Service Class		66,467,375.045		791,573,618		777,003,614		(134	)		777,003,480		324,381,240		1.148998		11.054517
TA Managed Risk—Growth ETF Service Class		282,688,436.498		2,859,027,394		2,699,674,569		(268	)		2,699,674,301		1,128,966,441		1.131591		11.432595
TA Market Participation Strategy Service Class		39,086,389.871		446,023,117		453,011,259		43			453,011,302		112,269,327		1.134082		11.768654
TA MFS International Equity Initial Class		8,275,533.046		62,864,756		65,293,956		(136	)		65,293,820		47,110,409		1.030614		10.484602
TA MFS International Equity Service Class		10,893,288.058		87,674,561		84,422,982		(137	)		84,422,845		29,624,976		0.964416		10.219366
TA Morgan Stanley Capital Growth Initial Class		6,908,202.301		90,151,262		92,915,321		(75	)		92,915,246		43,698,169		1.584005		2.507588
TA Morgan Stanley Capital Growth Service Class		4,036,101.536		60,844,596		53,195,818		(12	)		53,195,806		13,431,257		1.538339		15.303842
TA Multi-Managed Balanced Initial Class		5,828,029.201		77,955,057		79,028,076		(153	)		79,027,923		35,420,588		1.448446		2.352670

See accompanying notes.

4

Transamerica Life Insurance Company

Separate Account VA B

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account			Net Assets		Units Outstanding		Range of Unit Values
TA Multi-Managed Balanced Service Class		67,982,256.000	$	890,512,532	$	904,843,827	$	(173	)	$	904,843,654		219,709,404	$	1.428377	$	12.822377
TA Multi-Manager Alternative Strategies Service Class		165,230.809		1,693,061		1,601,087		20			1,601,107		163,253		9.636402		10.008076
TA PIMCO Tactical—Balanced Service Class		51,839,565.421		596,588,048		610,151,685		(32	)		610,151,653		192,663,294		1.014282		11.484122
TA PIMCO Tactical—Conservative Service Class		23,876,176.256		269,163,826		273,382,218		(7	)		273,382,211		87,765,386		0.968384		11.288971
TA PIMCO Tactical—Growth Service Class		29,293,939.155		330,433,972		334,243,846		133			334,243,979		97,932,555		0.967569		11.552115
TA PIMCO Total Return Initial Class		16,291,030.944		187,731,730		181,319,174		(4	)		181,319,170		116,273,391		1.098833		1.643290
TA PIMCO Total Return Service Class		74,765,371.085		867,204,211		826,905,004		160			826,905,164		432,200,049		1.074326		10.135749
TA PineBridge Inflation Opportunities Service Class		17,587,499.590		183,842,577		175,347,371		114			175,347,485		101,867,579		0.948874		9.208316
TA ProFunds UltraBear Service Class (OAM)		49,789,555.151		46,083,023		33,856,898		299			33,857,197		557,626,487		0.058417		0.189933
TA QS Investors Active Asset Allocation—Conservative Service Class		41,476,784.328		437,931,182		425,137,039		(471	)		425,136,568		201,671,367		1.033259		10.495530
TA QS Investors Active Asset Allocation—Moderate Service Class		136,292,468.408		1,530,378,074		1,448,788,939		312			1,448,789,251		492,652,371		1.035718		10.496305
TA QS Investors Active Asset Allocation—Moderate Growth Service Class		58,041,101.151		644,922,971		591,438,821		264			591,439,085		254,015,317		1.038594		10.523814
TA Small/Mid Cap Value Initial Class		6,254,475.489		117,659,370		129,842,911		173			129,843,084		24,866,417		1.575209		15.018692
TA Small/Mid Cap Value Service Class		5,502,989.059		110,461,275		111,710,678		154			111,710,832		37,602,330		1.553004		14.632240
TA T. Rowe Price Small Cap Initial Class		8,262,722.614		97,233,302		112,290,400		(69	)		112,290,331		47,515,529		1.671725		15.530319
TA T. Rowe Price Small Cap Service Class		14,788,625.989		191,519,659		191,512,707		67			191,512,774		40,379,882		1.649695		15.141733
TA Torray Concentrated Growth Initial Class		7,914,281.934		119,081,809		141,507,361		122			141,507,483		45,742,580		1.480087		13.702517
TA Torray Concentrated Growth Service Class		1,777,687.617		33,909,259		32,531,683		(55	)		32,531,628		11,214,378		1.449300		13.349697
TA TS&W International Equity Initial Class		5,992,080.021		72,682,299		71,904,960		12			71,904,972		41,696,215		0.935567		10.863282
TA TS&W International Equity Service Class		2,866,443.201		35,152,233		34,110,674		64			34,110,738		13,541,992		0.860255		10.577180
TA WMC US Growth Initial Class		10,170,729.291		239,678,608		236,977,992		362			236,978,354		152,376,830		1.324835		14.521443
TA WMC US Growth Service Class		4,309,793.536		107,206,395		98,349,488		(68	)		98,349,420		31,337,681		1.261862		14.149385
Vanguard® Equity Index		53,908.067		1,710,450		1,920,744		2			1,920,746		411,968		1.698773		14.861114
Vanguard® International		62,956.813		1,216,902		1,229,547		(2	)		1,229,545		441,335		1.023327		10.868870
Vanguard® Mid-Cap Index		40,068.228		763,021		845,840		(2	)		845,838		243,199		1.624525		14.442511
Vanguard® REIT Index		26,612.200		341,185		358,732		10			358,742		136,899		1.482857		12.587633
Vanguard® Short-Term Investment Grade		255,683.825		2,714,207		2,717,919		1			2,717,920		1,010,860		1.060377		10.340130
Vanguard® Total Bond Market Index		126,042.378		1,496,567		1,483,519		6			1,483,525		445,728		1.108377		10.280120
Voya Global Perspectives Class S Shares		1,568.201		15,657		16,121		—			16,121		1,665		9.543355		9.889978
Voya Large Cap Value Class S Shares		84.807		903		1,006		—			1,006		97		10.258396		10.630966

See accompanying notes.

5

Transamerica Life Insurance Company

Separate Account VA B

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account		Net Assets		Units Outstanding		Range of Unit Values
Voya Strategic Allocation Conservative Class S Shares		—	$	—	$	—	$	—	$	—		—	$	9.861563	$	10.219710
Voya Strategic Allocation Moderate Class S Shares		—		—		—		—		—		—		9.837219		10.194506
Wanger International		13,040.737		372,382		308,283		—		308,283		141,836		1.133927		10.295749
Wanger USA		6,683.390		212,872		177,310		2		177,312		67,832		1.757581		14.347877

See accompanying notes.

6

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	AB Balanced Wealth Strategy Class B Shares			AB Growth and Income Class B Shares			AB Large Cap Growth Class B Shares			American Funds - Asset Allocation Class 2 Shares			American Funds - Bond Class 2 Shares
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	91,875,603		$	190,026,748		$	35,592,264		$	468,882,755		$	142,447,050
Investment Income:
Reinvested Dividends		1,964,980			2,331,815			—			8,419,874			2,835,508
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,608,024			2,885,658			490,480			8,596,781			2,733,999
Net Investment Income (Loss)		356,956			(553,843	)		(490,480	)		(176,907	)		101,509
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		8,973,462			—			2,888,272			35,364,723			3,090,505
Realized Gain (Loss) on Investments		(140,940	)		12,664,141			4,290,143			8,919,791			(235,687	)
Net Realized Capital Gains (Losses) on Investments		8,832,522			12,664,141			7,178,415			44,284,514			2,854,818
Net Change in Unrealized Appreciation (Depreciation)		(9,687,251	)		(12,429,579	)		(3,658,603	)		(47,070,650	)		(5,400,717	)
Net Gain (Loss) on Investment		(854,729	)		234,562			3,519,812			(2,786,136	)		(2,545,899	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(497,773	)		(319,281	)		3,029,332			(2,963,043	)		(2,444,390	)
Increase (Decrease) in Net Assets from Contract Transactions		4,122,766			4,599,868			(7,927,603	)		45,804,097			28,446,412
Total Increase (Decrease) in Net Assets		3,624,993			4,280,587			(4,898,271	)		42,841,054			26,002,022
Net Assets as of December 31, 2015:	$	95,500,596		$	194,307,335		$	30,693,993		$	511,723,809		$	168,449,072
Investment Income:
Reinvested Dividends		1,726,409			1,672,743			—			9,668,445			3,406,309
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,555,412			2,900,764			426,912			9,450,490			3,306,661
Net Investment Income (Loss)		170,997			(1,228,021	)		(426,912	)		217,955			99,648
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		6,390,894			12,421,233			3,428,931			13,205,395			670,487
Realized Gain (Loss) on Investments		(1,645,297	)		8,726,133			1,685,316			4,434,469			(432,581	)
Net Realized Capital Gains (Losses) on Investments		4,745,597			21,147,366			5,114,247			17,639,864			237,906
Net Change in Unrealized Appreciation (Depreciation)		(2,418,416	)		(1,588,392	)		(4,514,642	)		22,855,077			1,009,600
Net Gain (Loss) on Investment		2,327,181			19,558,974			599,605			40,494,941			1,247,506
Net Increase (Decrease) in Net Assets Resulting from Operations		2,498,178			18,330,953			172,693			40,712,896			1,347,154
Increase (Decrease) in Net Assets from Contract Transactions		(3,914,917	)		7,646,377			(2,542,316	)		81,602,903			32,890,959
Total Increase (Decrease) in Net Assets		(1,416,739	)		25,977,330			(2,369,623	)		122,315,799			34,238,113
Net Assets as of December 31, 2016:	$	94,083,857		$	220,284,665		$	28,324,370		$	634,039,608		$	202,687,185

See Accompanying Notes.

⁽¹⁾ See Footnote 1

7

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	American Funds - Growth Class 2 Shares			American Funds - Growth-Income Class 2 Shares			American Funds - International Class 2 Shares			BlackRock Basic Value V.I. Class I Shares			BlackRock Global Allocation V.I. Class I Shares
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	174,197,876		$	180,173,950		$	94,057,736		$	28,532,280		$	19,447,094
Investment Income:
Reinvested Dividends		1,407,972			3,077,938			1,814,431			347,297			174,728
Investment Expense:
Mortality and Expense Risk and Administrative Charges		3,612,807			3,640,372			1,942,262			357,805			241,918
Net Investment Income (Loss)		(2,204,835	)		(562,434	)		(127,831	)		(10,508	)		(67,190	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		43,190,040			31,609,718			6,459,243			2,530,004			789,357
Realized Gain (Loss) on Investments		2,596,966			3,410,221			1,221,166			1,535,557			556,729
Net Realized Capital Gains (Losses) on Investments		45,787,006			35,019,939			7,680,409			4,065,561			1,346,086
Net Change in Unrealized Appreciation (Depreciation)		(34,982,541	)		(36,705,090	)		(16,471,933	)		(5,567,230	)		(1,491,389	)
Net Gain (Loss) on Investment		10,804,465			(1,685,151	)		(8,791,524	)		(1,501,669	)		(145,303	)
Net Increase (Decrease) in Net Assets Resulting from Operations		8,599,630			(2,247,585	)		(8,919,355	)		(1,512,177	)		(212,493	)
Increase (Decrease) in Net Assets from Contract Transactions		58,914,515			58,170,750			29,797,209			(6,162,576	)		(4,714,039	)
Total Increase (Decrease) in Net Assets		67,514,145			55,923,165			20,877,854			(7,674,753	)		(4,926,532	)
Net Assets as of December 31, 2015:	$	241,712,021		$	236,097,115		$	114,935,590		$	20,857,527		$	14,520,562
Investment Income:
Reinvested Dividends		2,142,815			4,189,447			1,783,610			316,880			171,223
Investment Expense:
Mortality and Expense Risk and Administrative Charges		4,302,075			4,324,268			2,062,245			301,923			197,744
Net Investment Income (Loss)		(2,159,260	)		(134,821	)		(278,635	)		14,957			(26,521	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		22,498,997			28,109,838			10,276,564			498,719			—
Realized Gain (Loss) on Investments		(1,802,721	)		(1,541,716	)		(4,497,431	)		142,249			26,109
Net Realized Capital Gains (Losses) on Investments		20,696,276			26,568,122			5,779,133			640,968			26,109
Net Change in Unrealized Appreciation (Depreciation)		982,591			(1,580,080	)		(3,012,604	)		2,542,500			336,401
Net Gain (Loss) on Investment		21,678,867			24,988,042			2,766,529			3,183,468			362,510
Net Increase (Decrease) in Net Assets Resulting from Operations		19,519,607			24,853,221			2,487,894			3,198,425			335,989
Increase (Decrease) in Net Assets from Contract Transactions		39,839,064			47,941,715			12,224,875			(1,986,027	)		(1,462,988	)
Total Increase (Decrease) in Net Assets		59,358,671			72,794,936			14,712,769			1,212,398			(1,126,999	)
Net Assets as of December 31, 2016:	$	301,070,692		$	308,892,051		$	129,648,359		$	22,069,925		$	13,393,563

See Accompanying Notes.

⁽¹⁾  See Footnote 1

8

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	BlackRock High Yield V.I. Class I Shares			Catalyst Dividend Capture VA			Catalyst Insider Buying VA			Fidelity® VIP Balanced Service Class 2			Fidelity® VIP Contrafund® Initial Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	7,122,273		$	3,069,679		$	3,951,760		$	250,216,054		$	798,211
Investment Income:
Reinvested Dividends		310,236			110,082			16,936			4,045,837			7,632
Investment Expense:
Mortality and Expense Risk and Administrative Charges		87,162			36,126			45,202			4,069,171			4,964
Net Investment Income (Loss)		223,074			73,956			(28,266	)		(23,334	)		2,668
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		35,113			—			425,433			8,053,687			61,530
Realized Gain (Loss) on Investments		104,457			119,208			299,620			2,087,470			58,659
Net Realized Capital Gains (Losses) on Investments		139,570			119,208			725,053			10,141,157			120,189
Net Change in Unrealized Appreciation (Depreciation)		(606,024	)		(310,861	)		(961,484	)		(14,015,224	)		(131,147	)
Net Gain (Loss) on Investment		(466,454	)		(191,653	)		(236,431	)		(3,874,067	)		(10,958	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(243,380	)		(117,697	)		(264,697	)		(3,897,401	)		(8,290	)
Increase (Decrease) in Net Assets from Contract Transactions		(1,689,988	)		(611,713	)		(1,098,081	)		53,166,078			(72,997	)
Total Increase (Decrease) in Net Assets		(1,933,368	)		(729,410	)		(1,362,778	)		49,268,677			(81,287	)
Net Assets as of December 31, 2015:	$	5,188,905		$	2,340,269		$	2,588,982		$	299,484,731		$	716,924
Investment Income:
Reinvested Dividends		269,953			105,982			15,554			3,902,078			3,484
Investment Expense:
Mortality and Expense Risk and Administrative Charges		70,463			30,716			32,947			4,400,736			3,225
Net Investment Income (Loss)		199,490			75,266			(17,393	)		(498,658	)		259
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			720,807			7,402,751			55,870
Realized Gain (Loss) on Investments		(23,177	)		40,858			(15,906	)		536,594			(18,385	)
Net Realized Capital Gains (Losses) on Investments		(23,177	)		40,858			704,901			7,939,345			37,485
Net Change in Unrealized Appreciation (Depreciation)		349,367			8,020			(474,026	)		9,081,134			(13,652	)
Net Gain (Loss) on Investment		326,190			48,878			230,875			17,020,479			23,833
Net Increase (Decrease) in Net Assets Resulting from Operations		525,680			124,144			213,482			16,521,821			24,092
Increase (Decrease) in Net Assets from Contract Transactions		(875,817	)		(246,361	)		(240,522	)		20,954,344			(309,335	)
Total Increase (Decrease) in Net Assets		(350,137	)		(122,217	)		(27,040	)		37,476,165			(285,243	)
Net Assets as of December 31, 2016:	$	4,838,768		$	2,218,052		$	2,561,942		$	336,960,896		$	431,681

See Accompanying Notes.

⁽¹⁾ See Footnote 1

9

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Fidelity® VIP Contrafund® Service Class 2			Fidelity® VIP Equity-Income Initial Class			Fidelity® VIP Equity- Income Service Class 2			Fidelity® VIP Growth Initial Class			Fidelity® VIP Growth Service Class 2
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	465,848,417		$	89,679		$	63,824,949		$	38,477		$	48,200,149
Investment Income:
Reinvested Dividends		3,698,022			2,379			1,517,703			105			13,207
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,813,795			567			822,940			294			658,958
Net Investment Income (Loss)		(3,115,773	)		1,812			694,763			(189	)		(645,751	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		42,396,933			8,016			5,738,759			1,202			1,502,472
Realized Gain (Loss) on Investments		28,058,788			2,773			1,758,791			269			4,964,874
Net Realized Capital Gains (Losses) on Investments		70,455,721			10,789			7,497,550			1,471			6,467,346
Net Change in Unrealized Appreciation (Depreciation)		(72,317,351	)		(15,565	)		(11,064,161	)		1,164			(3,336,430	)
Net Gain (Loss) on Investment		(1,861,630	)		(4,776	)		(3,566,611	)		2,635			3,130,916
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,977,403	)		(2,964	)		(2,871,848	)		2,446			2,485,165
Increase (Decrease) in Net Assets from Contract Transactions		(11,011,946	)		(15,968	)		(13,029,927	)		(366	)		(10,067,701	)
Total Increase (Decrease) in Net Assets		(15,989,349	)		(18,932	)		(15,901,775	)		2,080			(7,582,536	)
Net Assets as of December 31, 2015:	$	449,859,068		$	70,747		$	47,923,174		$	40,557		$	40,617,613
Investment Income:
Reinvested Dividends		2,864,504			1,312			990,166			8			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,435,763			402			700,072			179			538,848
Net Investment Income (Loss)		(3,571,259	)		910			290,094			(171	)		(538,848	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		34,845,813			4,562			3,154,700			3,734			3,746,975
Realized Gain (Loss) on Investments		6,787,899			(1,999	)		233,152			8,495			2,821,129
Net Realized Capital Gains (Losses) on Investments		41,633,712			2,563			3,387,852			12,229			6,568,104
Net Change in Unrealized Appreciation (Depreciation)		(11,502,168	)		4,722			3,345,510			(13,326	)		(6,540,553	)
Net Gain (Loss) on Investment		30,131,544			7,285			6,733,362			(1,097	)		27,551
Net Increase (Decrease) in Net Assets Resulting from Operations		26,560,285			8,195			7,023,456			(1,268	)		(511,297	)
Increase (Decrease) in Net Assets from Contract Transactions		(59,650	)		(17,873	)		(5,716,374	)		(19,734	)		(5,786,936	)
Total Increase (Decrease) in Net Assets		26,500,635			(9,678	)		1,307,082			(21,002	)		(6,298,233	)
Net Assets as of December 31, 2016:	$	476,359,703		$	61,069		$	49,230,256		$	19,555		$	34,319,380

See Accompanying Notes.

⁽¹⁾  See Footnote 1

10

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Fidelity® VIP Growth Opportunities Service Class 2			Fidelity® VIP Mid Cap Initial Class			Fidelity® VIP Mid Cap Service Class 2			Fidelity® VIP Value Strategies Initial Class			Fidelity® VIP Value Strategies Service Class 2
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	2,517,712		$	59,307		$	345,744,918		$	104,026		$	144,232,335
Investment Income:
Reinvested Dividends		63			261			795,832			1,048			1,172,410
Investment Expense:
Mortality and Expense Risk and Administrative Charges		34,764			398			4,861,986			647			2,041,997
Net Investment Income (Loss)		(34,701	)		(137	)		(4,066,154	)		401			(869,587	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		223,392			6,978			41,570,179			73			109,392
Realized Gain (Loss) on Investments		285,402			(1,215	)		9,635,575			1,231			14,358,376
Net Realized Capital Gains (Losses) on Investments		508,794			5,763			51,205,754			1,304			14,467,768
Net Change in Unrealized Appreciation (Depreciation)		(374,595	)		(6,910	)		(55,343,666	)		(4,907	)		(19,545,421	)
Net Gain (Loss) on Investment		134,199			(1,147	)		(4,137,912	)		(3,603	)		(5,077,653	)
Net Increase (Decrease) in Net Assets Resulting from Operations		99,498			(1,284	)		(8,204,066	)		(3,202	)		(5,947,240	)
Increase (Decrease) in Net Assets from Contract Transactions		(438,193	)		(6,866	)		(39,284,949	)		(11,330	)		(13,693,317	)
Total Increase (Decrease) in Net Assets		(338,695	)		(8,150	)		(47,489,015	)		(14,532	)		(19,640,557	)
Net Assets as of December 31, 2015:	$	2,179,017		$	51,157		$	298,255,903		$	89,494		$	124,591,778
Investment Income:
Reinvested Dividends		997			250			945,060			2,007			1,111,388
Investment Expense:
Mortality and Expense Risk and Administrative Charges		29,161			321			4,302,516			929			1,751,984
Net Investment Income (Loss)		(28,164	)		(71	)		(3,357,456	)		1,078			(640,596	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		41,055			3,122			18,184,106			—			—
Realized Gain (Loss) on Investments		161,808			(544	)		(1,011,452	)		11,600			6,606,582
Net Realized Capital Gains (Losses) on Investments		202,863			2,578			17,172,654			11,600			6,606,582
Net Change in Unrealized Appreciation (Depreciation)		(213,033	)		3,151			14,705,971			7,015			2,621,496
Net Gain (Loss) on Investment		(10,170	)		5,729			31,878,625			18,615			9,228,078
Net Increase (Decrease) in Net Assets Resulting from Operations		(38,334	)		5,658			28,521,169			19,693			8,587,482
Increase (Decrease) in Net Assets from Contract Transactions		(148,002	)		(4,535	)		(10,550,550	)		77,843			(4,948,276	)
Total Increase (Decrease) in Net Assets		(186,336	)		1,123			17,970,619			97,536			3,639,206
Net Assets as of December 31, 2016:	$	1,992,681		$	52,280		$	316,226,522		$	187,030		$	128,230,984

See Accompanying Notes.

⁽¹⁾  See Footnote 1

11

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Franklin Founding Funds Allocation Class 4 Shares			Franklin Income Class 2 Shares			Franklin Mutual Shares Class 2 Shares			Franklin Templeton Foreign Class 2 Shares			Invesco V.I. American Franchise Series II Shares
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	149,122,631		$	125,848,593		$	26,638,380		$	49,421,163		$	9,493,323
Investment Income:
Reinvested Dividends		3,633,219			4,953,955			637,203			1,424,902			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,205,989			1,561,912			330,188			665,142			122,596
Net Investment Income (Loss)		1,427,230			3,392,043			307,015			759,760			(122,596	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		208,623			—			1,405,930			1,455,367			41,886
Realized Gain (Loss) on Investments		602,421			1,722,010			2,296,472			1,035,999			899,456
Net Realized Capital Gains (Losses) on Investments		811,044			1,722,010			3,702,402			2,491,366			941,342
Net Change in Unrealized Appreciation (Depreciation)		(12,006,665	)		(13,768,805	)		(5,197,619	)		(6,180,383	)		(520,431	)
Net Gain (Loss) on Investment		(11,195,621	)		(12,046,795	)		(1,495,217	)		(3,689,017	)		420,911
Net Increase (Decrease) in Net Assets Resulting from Operations		(9,768,391	)		(8,654,752	)		(1,188,202	)		(2,929,257	)		298,315
Increase (Decrease) in Net Assets from Contract Transactions		(23,844,442	)		(27,721,069	)		(7,143,383	)		(10,750,447	)		(2,377,393	)
Total Increase (Decrease) in Net Assets		(33,612,833	)		(36,375,821	)		(8,331,585	)		(13,679,704	)		(2,079,078	)
Net Assets as of December 31, 2015:	$	115,509,798		$	89,472,772		$	18,306,795		$	35,741,459		$	7,414,245
Investment Income:
Reinvested Dividends		4,097,691			4,297,727			352,679			642,573			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,818,276			1,231,465			258,830			491,444			99,836
Net Investment Income (Loss)		2,279,415			3,066,262			93,849			151,129			(99,836	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,606,410			—			1,452,874			575,540			616,766
Realized Gain (Loss) on Investments		(1,378,168	)		(211,397	)		503,479			(298,522	)		327,694
Net Realized Capital Gains (Losses) on Investments		2,228,242			(211,397	)		1,956,353			277,018			944,460
Net Change in Unrealized Appreciation (Depreciation)		7,041,900			6,973,332			328,700			1,241,231			(827,299	)
Net Gain (Loss) on Investment		9,270,142			6,761,935			2,285,053			1,518,249			117,161
Net Increase (Decrease) in Net Assets Resulting from Operations		11,549,557			9,828,197			2,378,902			1,669,378			17,325
Increase (Decrease) in Net Assets from Contract Transactions		(14,959,677	)		(15,988,133	)		(2,326,995	)		(4,756,618	)		(888,100	)
Total Increase (Decrease) in Net Assets		(3,410,120	)		(6,159,936	)		51,907			(3,087,240	)		(870,775	)
Net Assets as of December 31, 2016:	$	112,099,678		$	83,312,836		$	18,358,702		$	32,654,219		$	6,543,470

See Accompanying Notes.

⁽¹⁾  See Footnote 1

12

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Invesco V.I. Value Opportunities Series II Shares			Janus Aspen - Enterprise Service Shares			Janus Aspen - Global Research Service Shares			Janus Aspen - Perkins Mid Cap Value Service Shares			MFS® New Discovery Service Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	27,970,466		$	24,097,729		$	41,374,871		$	3,689,741		$	59,862,477
Investment Income:
Reinvested Dividends		495,129			162,842			180,980			31,154			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		342,472			325,794			531,364			45,328			799,408
Net Investment Income (Loss)		152,657			(162,952	)		(350,384	)		(14,174	)		(799,408	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		1,626,918			2,365,036			—			296,531			1,694,842
Realized Gain (Loss) on Investments		3,254,944			2,507,120			4,074,938			128,483			256,358
Net Realized Capital Gains (Losses) on Investments		4,881,862			4,872,156			4,074,938			425,014			1,951,200
Net Change in Unrealized Appreciation (Depreciation)		(7,722,638	)		(4,025,974	)		(4,561,140	)		(571,455	)		(2,374,538	)
Net Gain (Loss) on Investment		(2,840,776	)		846,182			(486,202	)		(146,441	)		(423,338	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(2,688,119	)		683,230			(836,586	)		(160,615	)		(1,222,746	)
Increase (Decrease) in Net Assets from Contract Transactions		(6,715,952	)		(5,016,733	)		(10,640,874	)		(794,088	)		(13,606,076	)
Total Increase (Decrease) in Net Assets		(9,404,071	)		(4,333,503	)		(11,477,460	)		(954,703	)		(14,828,822	)
Net Assets as of December 31, 2015:	$	18,566,395		$	19,764,226		$	29,897,411		$	2,735,038		$	45,033,655
Investment Income:
Reinvested Dividends		13,225			139,288			255,751			24,773			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		255,672			288,240			398,630			39,767			611,267
Net Investment Income (Loss)		(242,447	)		(148,952	)		(142,879	)		(14,994	)		(611,267	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		5,198,723			1,493,333			—			371,882			1,985,386
Realized Gain (Loss) on Investments		729,529			1,036,543			1,369,861			9,687			(743,625	)
Net Realized Capital Gains (Losses) on Investments		5,928,252			2,529,876			1,369,861			381,569			1,241,761
Net Change in Unrealized Appreciation (Depreciation)		(3,090,789	)		(446,215	)		(1,247,346	)		70,741			2,020,238
Net Gain (Loss) on Investment		2,837,463			2,083,661			122,515			452,310			3,261,999
Net Increase (Decrease) in Net Assets Resulting from Operations		2,595,016			1,934,709			(20,364	)		437,316			2,650,732
Increase (Decrease) in Net Assets from Contract Transactions		(2,829,104	)		(1,947,353	)		(4,072,103	)		(200,047	)		(6,348,826	)
Total Increase (Decrease) in Net Assets		(234,088	)		(12,644	)		(4,092,467	)		237,269			(3,698,094	)
Net Assets as of December 31, 2016:	$	18,332,307		$	19,751,582		$	25,804,944		$	2,972,307		$	41,335,561

See Accompanying Notes.

⁽¹⁾  See Footnote 1

13

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	MFS® Total Return Service Class			NVIT Emerging Markets Class D Shares			State Street Total Return V.I.S. Class 3 Shares			TA AB Dynamic Allocation Initial Class			TA AB Dynamic Allocation Service Class
	Subaccount			Subaccount(1)			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	73,196,447		$	—		$	59,012,874		$	29,143,207		$	339,267,725
Investment Income:
Reinvested Dividends		1,409,107			—			875,526			330,895			3,693,566
Investment Expense:
Mortality and Expense Risk and Administrative Charges		922,857			—			976,790			392,257			4,925,850
Net Investment Income (Loss)		486,250			—			(101,264	)		(61,362	)		(1,232,284	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,229,277			—			1,794,079			—			—
Realized Gain (Loss) on Investments		4,602,814			—			945,126			1,707,173			5,786,865
Net Realized Capital Gains (Losses) on Investments		6,832,091			—			2,739,205			1,707,173			5,786,865
Net Change in Unrealized Appreciation (Depreciation)		(8,369,029	)		—			(4,395,417	)		(2,021,086	)		(11,155,923	)
Net Gain (Loss) on Investment		(1,536,938	)		—			(1,656,212	)		(313,913	)		(5,369,058	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,050,688	)		—			(1,757,476	)		(375,275	)		(6,601,342	)
Increase (Decrease) in Net Assets from Contract Transactions		(16,903,770	)		—			(2,178,035	)		(5,320,364	)		13,574,872
Total Increase (Decrease) in Net Assets		(17,954,458	)		—			(3,935,511	)		(5,695,639	)		6,973,530
Net Assets as of December 31, 2015:	$	55,241,989		$	—		$	55,077,363		$	23,447,568		$	346,241,255
Investment Income:
Reinvested Dividends		1,415,825			164			871,307			328,523			4,342,754
Investment Expense:
Mortality and Expense Risk and Administrative Charges		780,587			42			902,389			329,186			4,826,497
Net Investment Income (Loss)		635,238			122			(31,082	)		(663	)		(483,743	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		1,747,849			—			1,010,082			—			—
Realized Gain (Loss) on Investments		1,709,584			(50	)		500,432			640,386			4,633,225
Net Realized Capital Gains (Losses) on Investments		3,457,433			(50	)		1,510,514			640,386			4,633,225
Net Change in Unrealized Appreciation (Depreciation)		(369,178	)		(792	)		830,845			(464,247	)		(2,067,014	)
Net Gain (Loss) on Investment		3,088,255			(842	)		2,341,359			176,139			2,566,211
Net Increase (Decrease) in Net Assets Resulting from Operations		3,723,493			(720	)		2,310,277			175,476			2,082,468
Increase (Decrease) in Net Assets from Contract Transactions		(7,033,319	)		19,494			(3,255,351	)		(2,127,500	)		(8,425,055	)
Total Increase (Decrease) in Net Assets		(3,309,826	)		18,774			(945,074	)		(1,952,024	)		(6,342,587	)
Net Assets as of December 31, 2016:	$	51,932,163		$	18,774		$	54,132,289		$	21,495,544		$	339,898,668

See Accompanying Notes.

⁽¹⁾  See Footnote 1

14

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Aegon Government Money Market Initial Class			TA Aegon Government Money Market Service Class			TA Aegon High Yield Bond Initial Class			TA Aegon High Yield Bond Service Class			TA Aegon U.S. Government Securities Initial Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	115,039,216		$	345,246,865		$	102,904,592		$	132,109,914		$	87,871,181
Investment Income:
Reinvested Dividends		5,787			17,859			5,552,200			8,987,761			1,640,727
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,672,642			4,906,835			1,391,082			2,218,029			1,145,841
Net Investment Income (Loss)		(1,666,855	)		(4,888,976	)		4,161,118			6,769,732			494,886
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—			382,505
Realized Gain (Loss) on Investments		—			(1	)		1,308,863			(1,908,312	)		(2,141,421	)
Net Realized Capital Gains (Losses) on Investments		—			(1	)		1,308,863			(1,908,312	)		(1,758,916	)
Net Change in Unrealized Appreciation (Depreciation)		—			1			(10,115,169	)		(13,769,324	)		293,375
Net Gain (Loss) on Investment		—			—			(8,806,306	)		(15,677,636	)		(1,465,541	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,666,855	)		(4,888,976	)		(4,645,188	)		(8,907,904	)		(970,655	)
Increase (Decrease) in Net Assets from Contract Transactions		4,688,536			43,406,646			(18,719,946	)		13,821,563			(15,786,691	)
Total Increase (Decrease) in Net Assets		3,021,681			38,517,670			(23,365,134	)		4,913,659			(16,757,346	)
Net Assets as of December 31, 2015:	$	118,060,897		$	383,764,535		$	79,539,458		$	137,023,573		$	71,113,835
Investment Income:
Reinvested Dividends		6,614			19,966			4,964,898			9,026,847			514,498
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,740,504			5,415,665			1,198,512			2,196,070			1,159,428
Net Investment Income (Loss)		(1,733,890	)		(5,395,699	)		3,766,386			6,830,777			(644,930	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—			—
Realized Gain (Loss) on Investments		—			—			(420,462	)		(3,922,638	)		(1,190,529	)
Net Realized Capital Gains (Losses) on Investments		—			—			(420,462	)		(3,922,638	)		(1,190,529	)
Net Change in Unrealized Appreciation (Depreciation)		—			—			7,191,741			16,022,419			865,081
Net Gain (Loss) on Investment		—			—			6,771,279			12,099,781			(325,448	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,733,890	)		(5,395,699	)		10,537,665			18,930,558			(970,378	)
Increase (Decrease) in Net Assets from Contract Transactions		(6,953,071	)		5,590,348			(4,677,617	)		(366,673	)		3,419,313
Total Increase (Decrease) in Net Assets		(8,686,961	)		194,649			5,860,048			18,563,885			2,448,935
Net Assets as of December 31, 2016:	$	109,373,936		$	383,959,184		$	85,399,506		$	155,587,458		$	73,562,770

See Accompanying Notes.

⁽¹⁾  See Footnote 1

15

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Aegon U.S. Government Securities Service Class			TA American Funds Managed Risk - Balanced Service Class			TA Asset Allocation - Conservative Initial Class			TA Asset Allocation - Conservative Service Class			TA Asset Allocation - Growth Initial Class
	Subaccount			Subaccount(1)			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	211,171,453		$	—		$	239,339,037		$	1,091,927,020		$	361,493,975
Investment Income:
Reinvested Dividends		3,472,704			—			4,594,846			21,351,803			4,956,244
Investment Expense:
Mortality and Expense Risk and Administrative Charges		3,463,714			458,757			3,190,965			15,201,451			4,712,292
Net Investment Income (Loss)		8,990			(458,757	)		1,403,881			6,150,352			243,952
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		928,571			—			8,160,003			42,839,235			—
Realized Gain (Loss) on Investments		(3,580,596	)		(57,129	)		4,886,778			11,790,763			28,886,904
Net Realized Capital Gains (Losses) on Investments		(2,652,025	)		(57,129	)		13,046,781			54,629,998			28,886,904
Net Change in Unrealized Appreciation (Depreciation)		(2,468,059	)		(986,156	)		(20,730,926	)		(98,097,936	)		(36,260,278	)
Net Gain (Loss) on Investment		(5,120,084	)		(1,043,285	)		(7,684,145	)		(43,467,938	)		(7,373,374	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(5,111,094	)		(1,502,042	)		(6,280,264	)		(37,317,586	)		(7,129,422	)
Increase (Decrease) in Net Assets from Contract Transactions		143,804,229			121,357,288			(43,308,579	)		(15,391,424	)		(81,321,524	)
Total Increase (Decrease) in Net Assets		138,693,135			119,855,246			(49,588,843	)		(52,709,010	)		(88,450,946	)
Net Assets as of December 31, 2015:	$	349,864,588		$	119,855,246		$	189,750,194		$	1,039,218,010		$	273,043,029
Investment Income:
Reinvested Dividends		1,918,535			1,398,218			3,824,970			18,785,162			5,643,952
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,220,947			2,949,953			2,789,492			14,446,620			3,807,339
Net Investment Income (Loss)		(4,302,412	)		(1,551,735	)		1,035,478			4,338,542			1,836,613
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			4,172,201			23,463,654			—
Realized Gain (Loss) on Investments		389,755			3,230			(645,513	)		(2,920,930	)		10,367,544
Net Realized Capital Gains (Losses) on Investments		389,755			3,230			3,526,688			20,542,724			10,367,544
Net Change in Unrealized Appreciation (Depreciation)		162,748			14,321,273			1,201,733			4,855,411			(1,185,117	)
Net Gain (Loss) on Investment		552,503			14,324,503			4,728,421			25,398,135			9,182,427
Net Increase (Decrease) in Net Assets Resulting from Operations		(3,749,909	)		12,772,768			5,763,899			29,736,677			11,019,040
Increase (Decrease) in Net Assets from Contract Transactions		38,422,328			229,949,565			(18,632,199	)		(47,297,042	)		(29,570,883	)
Total Increase (Decrease) in Net Assets		34,672,419			242,722,333			(12,868,300	)		(17,560,365	)		(18,551,843	)
Net Assets as of December 31, 2016:	$	384,537,007		$	362,577,579		$	176,881,894		$	1,021,657,645		$	254,491,186

See Accompanying Notes.

⁽¹⁾  See Footnote 1

16

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Asset Allocation - Growth Service Class			TA Asset Allocation - Moderate Initial Class			TA Asset Allocation - Moderate Service Class			TA Asset Allocation - Moderate Growth Initial Class			TA Asset Allocation - Moderate Growth Service Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	203,683,787		$	558,320,285		$	5,316,426,982		$	658,335,948		$	3,454,997,510
Investment Income:
Reinvested Dividends		2,986,874			9,409,831			97,853,622			12,062,611			67,908,038
Investment Expense:
Mortality and Expense Risk and Administrative Charges		3,033,060			7,233,701			72,227,359			8,608,076			50,560,848
Net Investment Income (Loss)		(46,186	)		2,176,130			25,626,263			3,454,535			17,347,190
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			15,913,077			185,685,562			9,000,628			57,223,768
Realized Gain (Loss) on Investments		7,578,194			26,749,798			52,855,461			33,089,626			73,236,586
Net Realized Capital Gains (Losses) on Investments		7,578,194			42,662,875			238,541,023			42,090,254			130,460,354
Net Change in Unrealized Appreciation (Depreciation)		(15,218,624	)		(59,032,066	)		(464,964,052	)		(61,416,275	)		(281,657,622	)
Net Gain (Loss) on Investment		(7,640,430	)		(16,369,191	)		(226,423,029	)		(19,326,021	)		(151,197,268	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(7,686,616	)		(14,193,061	)		(200,796,766	)		(15,871,486	)		(133,850,078	)
Increase (Decrease) in Net Assets from Contract Transactions		1,160,284			(125,413,007	)		(82,221,301	)		(142,493,677	)		(48,501,523	)
Total Increase (Decrease) in Net Assets		(6,526,332	)		(139,606,068	)		(283,018,067	)		(158,365,163	)		(182,351,601	)
Net Assets as of December 31, 2015:	$	197,157,455		$	418,714,217		$	5,033,408,915		$	499,970,785		$	3,272,645,909
Investment Income:
Reinvested Dividends		3,494,762			8,882,508			96,247,253			9,746,867			56,957,967
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,597,904			5,964,442			66,093,891			7,117,512			46,501,257
Net Investment Income (Loss)		896,858			2,918,066			30,153,362			2,629,355			10,456,710
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			10,122,008			124,897,398			26,214,499			176,561,797
Realized Gain (Loss) on Investments		5,398,467			6,571,800			15,643,392			9,183,006			33,846,317
Net Realized Capital Gains (Losses) on Investments		5,398,467			16,693,808			140,540,790			35,397,505			210,408,114
Net Change in Unrealized Appreciation (Depreciation)		306,619			(3,909,028	)		13,812,981			(15,175,708	)		(73,965,923	)
Net Gain (Loss) on Investment		5,705,086			12,784,780			154,353,771			20,221,797			136,442,191
Net Increase (Decrease) in Net Assets Resulting from Operations		6,601,944			15,702,846			184,507,133			22,851,152			146,898,901
Increase (Decrease) in Net Assets from Contract Transactions		(19,093,951	)		(31,114,607	)		(333,357,122	)		(45,330,832	)		(170,423,955	)
Total Increase (Decrease) in Net Assets		(12,492,007	)		(15,411,761	)		(148,849,989	)		(22,479,680	)		(23,525,054	)
Net Assets as of December 31, 2016:	$	184,665,448		$	403,302,456		$	4,884,558,926		$	477,491,105		$	3,249,120,855

See Accompanying Notes.

⁽¹⁾  See Footnote 1

17

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Barrow Hanley Dividend Focused Initial Class			TA Barrow Hanley Dividend Focused Service Class			TA BlackRock Equity Smart Beta 100 Service Class			TA BlackRock Global Allocation Service Class
	Subaccount			Subaccount			Subaccount(1)			Subaccount
Net Assets as of December 31, 2014:	$	461,315,863		$	153,661,743		$	—		$	1,227,043,635
Investment Income:
Reinvested Dividends		7,229,224			2,538,416			—			20,124,352
Investment Expense:
Mortality and Expense Risk and Administrative Charges		5,813,525			2,218,421			—			17,130,052
Net Investment Income (Loss)		1,415,699			319,995			—			2,994,300
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			103,477,350
Realized Gain (Loss) on Investments		37,598,433			7,272,555			—			14,152,071
Net Realized Capital Gains (Losses) on Investments		37,598,433			7,272,555			—			117,629,421
Net Change in Unrealized Appreciation (Depreciation)		(58,547,745	)		(15,960,503	)		—			(150,689,022	)
Net Gain (Loss) on Investment		(20,949,312	)		(8,687,948	)		—			(33,059,601	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(19,533,613	)		(8,367,953	)		—			(30,065,301	)
Increase (Decrease) in Net Assets from Contract Transactions		(91,972,454	)		(269,934	)		—			(18,801,909	)
Total Increase (Decrease) in Net Assets		(111,506,067	)		(8,637,887	)		—			(48,867,210	)
Net Assets as of December 31, 2015:	$	349,809,796		$	145,023,856		$	—		$	1,178,176,425
Investment Income:
Reinvested Dividends		7,455,376			2,939,251			—			4,606,808
Investment Expense:
Mortality and Expense Risk and Administrative Charges		5,024,268			2,180,690			59,366			17,009,729
Net Investment Income (Loss)		2,431,108			758,561			(59,366	)		(12,402,921	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			7,136,776
Realized Gain (Loss) on Investments		16,331,527			4,909,031			(12,833	)		(4,943,716	)
Net Realized Capital Gains (Losses) on Investments		16,331,527			4,909,031			(12,833	)		2,193,060
Net Change in Unrealized Appreciation (Depreciation)		24,445,825			12,677,327			92,851			48,221,462
Net Gain (Loss) on Investment		40,777,352			17,586,358			80,018			50,414,522
Net Increase (Decrease) in Net Assets Resulting from Operations		43,208,460			18,344,919			20,652			38,011,601
Increase (Decrease) in Net Assets from Contract Transactions		(29,019,235	)		5,005,046			23,102,327			51,869,511
Total Increase (Decrease) in Net Assets		14,189,225			23,349,965			23,122,979			89,881,112
Net Assets as of December 31, 2016:	$	363,999,021		$	168,373,821		$	23,122,979		$	1,268,057,537

See Accompanying Notes.

⁽¹⁾  See Footnote 1

18

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA BlackRock Global Allocation Managed Risk - Balanced Service Class			TA BlackRock Global Allocation Managed Risk - Growth Service Class			TA BlackRock Smart Beta 50 Service Class			TA BlackRock Smart Beta 75 Service Class
	Subaccount			Subaccount			Subaccount(1)			Subaccount(1)
Net Assets as of December 31, 2014:	$	9,560,920		$	10,712,850		$	—		$	—
Investment Income:
Reinvested Dividends		—			—			—			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,017,426			1,224,736			—			—
Net Investment Income (Loss)		(1,017,426	)		(1,224,736	)		—			—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—
Realized Gain (Loss) on Investments		(230,711	)		(165,659	)		—			—
Net Realized Capital Gains (Losses) on Investments		(230,711	)		(165,659	)		—			—
Net Change in Unrealized Appreciation (Depreciation)		(5,890,788	)		(9,055,506	)		—			—
Net Gain (Loss) on Investment		(6,121,499	)		(9,221,165	)		—			—
Net Increase (Decrease) in Net Assets Resulting from Operations		(7,138,925	)		(10,445,901	)		—			—
Increase (Decrease) in Net Assets from Contract Transactions		125,776,300			150,383,397			—			—
Total Increase (Decrease) in Net Assets		118,637,375			139,937,496			—			—
Net Assets as of December 31, 2015:	$	128,198,295		$	150,650,346		$	—		$	—
Investment Income:
Reinvested Dividends		2,971,545			3,417,364			—			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,995,164			2,237,482			209,021			43,691
Net Investment Income (Loss)		976,381			1,179,882			(209,021	)		(43,691	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		9,905,149			9,574,729			—			—
Realized Gain (Loss) on Investments		(2,766,262	)		(3,284,911	)		30,186			15,965
Net Realized Capital Gains (Losses) on Investments		7,138,887			6,289,818			30,186			15,965
Net Change in Unrealized Appreciation (Depreciation)		(9,013,055	)		(9,554,872	)		(107,122	)		69,548
Net Gain (Loss) on Investment		(1,874,168	)		(3,265,054	)		(76,936	)		85,513
Net Increase (Decrease) in Net Assets Resulting from Operations		(897,787	)		(2,085,172	)		(285,957	)		41,822
Increase (Decrease) in Net Assets from Contract Transactions		34,838,452			19,846,947			42,260,756			11,464,594
Total Increase (Decrease) in Net Assets		33,940,665			17,761,775			41,974,799			11,506,416
Net Assets as of December 31, 2016:	$	162,138,960		$	168,412,121		$	41,974,799		$	11,506,416

See Accompanying Notes.

⁽¹⁾  See Footnote 1

19

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA BlackRock Tactical Allocation Service Class			TA Clarion Global Real Estate Securities Initial Class			TA Clarion Global Real Estate Securities Service Class			TA International Moderate Growth Initial Class			TA International Moderate Growth Service Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	1,394,587,714		$	61,698,855		$	92,625,420		$	79,791		$	560,090,151
Investment Income:
Reinvested Dividends		24,822,499			2,377,646			3,845,688			1,600			10,741,850
Investment Expense:
Mortality and Expense Risk and Administrative Charges		20,234,861			834,135			1,385,199			367			8,837,503
Net Investment Income (Loss)		4,587,638			1,543,511			2,460,489			1,233			1,904,347
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		70,454,904			—			—			—			—
Realized Gain (Loss) on Investments		16,629,358			3,012,971			2,199,070			68			8,676,357
Net Realized Capital Gains (Losses) on Investments		87,084,262			3,012,971			2,199,070			68			8,676,357
Net Change in Unrealized Appreciation (Depreciation)		(113,949,656	)		(5,696,062	)		(7,130,408	)		(2,994	)		(33,452,459	)
Net Gain (Loss) on Investment		(26,865,394	)		(2,683,091	)		(4,931,338	)		(2,926	)		(24,776,102	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(22,277,756	)		(1,139,580	)		(2,470,849	)		(1,693	)		(22,871,755	)
Increase (Decrease) in Net Assets from Contract Transactions		30,165,405			(10,531,067	)		(692,535	)		18			58,234,693
Total Increase (Decrease) in Net Assets		7,887,649			(11,670,647	)		(3,163,384	)		(1,675	)		35,362,938
Net Assets as of December 31, 2015:	$	1,402,475,363		$	50,028,208		$	89,462,036		$	78,116		$	595,453,089
Investment Income:
Reinvested Dividends		32,932,340			846,761			1,245,132			1,679			10,463,387
Investment Expense:
Mortality and Expense Risk and Administrative Charges		19,963,698			700,110			1,276,356			349			8,201,821
Net Investment Income (Loss)		12,968,642			146,651			(31,224	)		1,330			2,261,566
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		47,921,849			—			—			—			—
Realized Gain (Loss) on Investments		5,164,483			1,299,128			1,175,789			34			3,144,149
Net Realized Capital Gains (Losses) on Investments		53,086,332			1,299,128			1,175,789			34			3,144,149
Net Change in Unrealized Appreciation (Depreciation)		(17,726,377	)		(1,903,615	)		(2,257,078	)		(739	)		(8,217,658	)
Net Gain (Loss) on Investment		35,359,955			(604,487	)		(1,081,289	)		(705	)		(5,073,509	)
Net Increase (Decrease) in Net Assets Resulting from Operations		48,328,597			(457,836	)		(1,112,513	)		625			(2,811,943	)
Increase (Decrease) in Net Assets from Contract Transactions		(6,592,984	)		(5,034,211	)		(4,037,900	)		1,381			(41,526,221	)
Total Increase (Decrease) in Net Assets		41,735,613			(5,492,047	)		(5,150,413	)		2,006			(44,338,164	)
Net Assets as of December 31, 2016:	$	1,444,210,976		$	44,536,161		$	84,311,623		$	80,122		$	551,114,925

See Accompanying Notes.

⁽¹⁾  See Footnote 1

20

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Janus Balanced Service Class Subaccount			TA Janus Mid-Cap Growth Initial Class Subaccount			TA Janus Mid-Cap Growth Service Class Subaccount			TA Jennison Growth Initial Class Subaccount			TA Jennison Growth Service Class Subaccount
Net Assets as of December 31, 2014:	$	351,230,964		$	99,193,842		$	69,299,132		$	218,374,436		$	67,454,449
Investment Income:
Reinvested Dividends		3,908,812			—			—			—			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,632,710			1,231,936			1,036,410			2,959,287			1,186,731
Net Investment Income (Loss)		(2,723,898	)		(1,231,936	)		(1,036,410	)		(2,959,287	)		(1,186,731	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		11,945,213			11,794,971			11,270,467			14,924,169			6,715,916
Realized Gain (Loss) on Investments		5,623,981			6,232,778			546,636			18,944,936			2,443,911
Net Realized Capital Gains (Losses) on Investments		17,569,194			18,027,749			11,817,103			33,869,105			9,159,827
Net Change in Unrealized Appreciation (Depreciation)		(22,374,696	)		(21,505,251	)		(15,873,878	)		(10,851,481	)		(1,560,670	)
Net Gain (Loss) on Investment		(4,805,502	)		(3,477,502	)		(4,056,775	)		23,017,624			7,599,157
Net Increase (Decrease) in Net Assets Resulting from Operations		(7,529,400	)		(4,709,438	)		(5,093,185	)		20,058,337			6,412,426
Increase (Decrease) in Net Assets from Contract Transactions		218,707,249			(25,359,931	)		3,953,617			(46,205,552	)		22,814,125
Total Increase (Decrease) in Net Assets		211,177,849			(30,069,369	)		(1,139,568	)		(26,147,215	)		29,226,551
Net Assets as of December 31, 2015:	$	562,408,813		$	69,124,473		$	68,159,564		$	192,227,221		$	96,681,000
Investment Income:
Reinvested Dividends		6,859,000			—			—			—			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		8,769,636			886,818			884,029			2,475,472			1,288,467
Net Investment Income (Loss)		(1,910,636	)		(886,818	)		(884,029	)		(2,475,472	)		(1,288,467	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		5,696,795			5,689,511			5,997,840			30,242,323			16,495,741
Realized Gain (Loss) on Investments		8,381,278			(960,178	)		(4,559,216	)		6,003,051			533,825
Net Realized Capital Gains (Losses) on Investments		14,078,073			4,729,333			1,438,624			36,245,374			17,029,566
Net Change in Unrealized Appreciation (Depreciation)		7,012,769			(6,480,033	)		(3,241,525	)		(40,251,968	)		(19,026,960	)
Net Gain (Loss) on Investment		21,090,842			(1,750,700	)		(1,802,901	)		(4,006,594	)		(1,997,394	)
Net Increase (Decrease) in Net Assets Resulting from Operations		19,180,206			(2,637,518	)		(2,686,930	)		(6,482,066	)		(3,285,861	)
Increase (Decrease) in Net Assets from Contract Transactions		106,359,221			(6,258,652	)		(2,150,732	)		(20,189,643	)		(4,969,002	)
Total Increase (Decrease) in Net Assets		125,539,427			(8,896,170	)		(4,837,662	)		(26,671,709	)		(8,254,863	)
Net Assets as of December 31, 2016:	$	687,948,240		$	60,228,303		$	63,321,902		$	165,555,512		$	88,426,137

See Accompanying Notes.

⁽¹⁾  See Footnote 1

21

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA JPMorgan Core Bond Service Class			TA JPMorgan Enhanced Index Initial Class			TA JPMorgan Enhanced Index Service Class			TA JPMorgan Mid Cap Value Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	139,476,584		$	117,249,774		$	36,235,761		$	151,741,957
Investment Income:
Reinvested Dividends		2,895,415			1,022,961			333,275			1,207,345
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,215,741			1,584,921			571,680			2,407,416
Net Investment Income (Loss)		679,674			(561,960	)		(238,405	)		(1,200,071	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			7,581,613			2,961,755			10,820,181
Realized Gain (Loss) on Investments		107,777			11,453,420			894,360			7,400,370
Net Realized Capital Gains (Losses) on Investments		107,777			19,035,033			3,856,115			18,220,551
Net Change in Unrealized Appreciation (Depreciation)		(2,678,494	)		(19,852,431	)		(4,555,306	)		(24,789,737	)
Net Gain (Loss) on Investment		(2,570,717	)		(817,398	)		(699,191	)		(6,569,186	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,891,043	)		(1,379,358	)		(937,596	)		(7,769,257	)
Increase (Decrease) in Net Assets from Contract Transactions		36,316,443			(14,584,831	)		4,416,154			13,184,089
Total Increase (Decrease) in Net Assets		34,425,400			(15,964,189	)		3,478,558			5,414,832
Net Assets as of December 31, 2015:	$	173,901,984		$	101,285,585		$	39,714,319		$	157,156,789
Investment Income:
Reinvested Dividends		4,016,554			410,103			78,214			3,377,193
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,855,817			1,449,464			611,090			2,502,761
Net Investment Income (Loss)		1,160,737			(1,039,361	)		(532,876	)		874,432
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			2,241,555			982,439			28,246,982
Realized Gain (Loss) on Investments		319,871			4,525,574			120,864			1,317,823
Net Realized Capital Gains (Losses) on Investments		319,871			6,767,129			1,103,303			29,564,805
Net Change in Unrealized Appreciation (Depreciation)		(1,333,081	)		3,708,951			3,374,395			(10,255,191	)
Net Gain (Loss) on Investment		(1,013,210	)		10,476,080			4,477,698			19,309,614
Net Increase (Decrease) in Net Assets Resulting from Operations		147,527			9,436,719			3,944,822			20,184,046
Increase (Decrease) in Net Assets from Contract Transactions		51,354,701			(4,108,109	)		8,307,114			21,306,372
Total Increase (Decrease) in Net Assets		51,502,228			5,328,610			12,251,936			41,490,418
Net Assets as of December 31, 2016:	$	225,404,212		$	106,614,195		$	51,966,255		$	198,647,207

See Accompanying Notes.

⁽¹⁾  See Footnote 1

22

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA JPMorgan Tactical Allocation Service Class Subaccount			TA Legg Mason Dynamic Allocation - Balanced Service Class Subaccount			TA Legg Mason Dynamic Allocation - Growth Service Class Subaccount			TA Madison Balanced Allocation Service Class Subaccount
Net Assets as of December 31, 2014:	$	825,197,475		$	738,870,798		$	297,102,967		$	94,800,820
Investment Income:
Reinvested Dividends		11,211,154			8,701,510			3,076,373			1,782,986
Investment Expense:
Mortality and Expense Risk and Administrative Charges		12,873,561			12,631,655			6,141,470			1,294,954
Net Investment Income (Loss)		(1,662,407	)		(3,930,145	)		(3,065,097	)		488,032
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			6,486,117
Realized Gain (Loss) on Investments		5,721,994			6,297,322			4,342,812			344,533
Net Realized Capital Gains (Losses) on Investments		5,721,994			6,297,322			4,342,812			6,830,650
Net Change in Unrealized Appreciation (Depreciation)		(23,551,564	)		(40,236,273	)		(24,690,023	)		(9,381,701	)
Net Gain (Loss) on Investment		(17,829,570	)		(33,938,951	)		(20,347,211	)		(2,551,051	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(19,491,977	)		(37,869,096	)		(23,412,308	)		(2,063,019	)
Increase (Decrease) in Net Assets from Contract Transactions		291,369,258			424,799,604			254,917,490			5,863,990
Total Increase (Decrease) in Net Assets		271,877,281			386,930,508			231,505,182			3,800,971
Net Assets as of December 31, 2015:	$	1,097,074,756		$	1,125,801,306		$	528,608,149		$	98,601,791
Investment Income:
Reinvested Dividends		13,684,866			13,072,935			5,528,319			1,889,811
Investment Expense:
Mortality and Expense Risk and Administrative Charges		15,208,773			15,615,654			7,304,109			1,362,509
Net Investment Income (Loss)		(1,523,907	)		(2,542,719	)		(1,775,790	)		527,302
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			25,657,065			10,154,887			2,282,273
Realized Gain (Loss) on Investments		9,038,809			7,622,987			4,367,250			(197,050	)
Net Realized Capital Gains (Losses) on Investments		9,038,809			33,280,052			14,522,137			2,085,223
Net Change in Unrealized Appreciation (Depreciation)		24,826,380			(54,146,056	)		(25,051,336	)		1,361,517
Net Gain (Loss) on Investment		33,865,189			(20,866,004	)		(10,529,199	)		3,446,740
Net Increase (Decrease) in Net Assets Resulting from Operations		32,341,282			(23,408,723	)		(12,304,989	)		3,974,042
Increase (Decrease) in Net Assets from Contract Transactions		124,472,451			72,024,169			(2,419,076	)		2,436,708
Total Increase (Decrease) in Net Assets		156,813,733			48,615,446			(14,724,065	)		6,410,750
Net Assets as of December 31, 2016:	$	1,253,888,489		$	1,174,416,752		$	513,884,084		$	105,012,541

See Accompanying Notes.

⁽¹⁾  See Footnote 1

23

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Madison Conservative Allocation Service Class Subaccount			TA Madison Diversified Income Service Class Subaccount			TA Managed Risk - Balanced ETF Service Class Subaccount			TA Managed Risk - Conservative ETF Service Class Subaccount			TA Managed Risk - Growth ETF Service Class Subaccount
Net Assets as of December 31, 2014:	$	74,746,336		$	105,588,057		$	4,522,734,970		$	674,485,127		$	2,857,654,356
Investment Income:
Reinvested Dividends		1,287,137			1,109,464			67,420,882			11,000,626			42,541,783
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,034,341			1,445,518			68,014,311			9,527,478			39,352,101
Net Investment Income (Loss)		252,796			(336,054	)		(593,429	)		1,473,148			3,189,682
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,245,703			2,024,035			212,281,563			32,162,091			248,375,813
Realized Gain (Loss) on Investments		99,639			778,401			20,434,582			3,606,482			16,481,858
Net Realized Capital Gains (Losses) on Investments		3,345,342			2,802,436			232,716,145			35,768,573			264,857,671
Net Change in Unrealized Appreciation (Depreciation)		(5,193,961	)		(3,767,223	)		(406,937,442	)		(52,355,524	)		(412,358,295	)
Net Gain (Loss) on Investment		(1,848,619	)		(964,787	)		(174,221,297	)		(16,586,951	)		(147,500,624	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,595,823	)		(1,300,841	)		(174,814,726	)		(15,113,803	)		(144,310,942	)
Increase (Decrease) in Net Assets from Contract Transactions		961,996			5,471,192			1,146,022,054			74,705,661			115,526,343
Total Increase (Decrease) in Net Assets		(633,827	)		4,170,351			971,207,328			59,591,858			(28,784,599	)
Net Assets as of December 31, 2015:	$	74,112,509		$	109,758,408		$	5,493,942,298		$	734,076,985		$	2,828,869,757
Investment Income:
Reinvested Dividends		1,541,347			1,498,483			92,495,544			12,583,206			44,426,261
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,026,659			1,515,608			71,370,880			10,122,887			36,719,505
Net Investment Income (Loss)		514,688			(17,125	)		21,124,664			2,460,319			7,706,756
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		561,806			733,575			45,389,462			7,042,590			—
Realized Gain (Loss) on Investments		(224,877	)		1,058,643			892,376			(554,939	)		(33,716,208	)
Net Realized Capital Gains (Losses) on Investments		336,929			1,792,218			46,281,838			6,487,651			(33,716,208	)
Net Change in Unrealized Appreciation (Depreciation)		1,149,175			4,191,893			70,095,663			11,605,547			113,828,987
Net Gain (Loss) on Investment		1,486,104			5,984,111			116,377,501			18,093,198			80,112,779
Net Increase (Decrease) in Net Assets Resulting from Operations		2,000,792			5,966,986			137,502,165			20,553,517			87,819,535
Increase (Decrease) in Net Assets from Contract Transactions		(3,096,205	)		242,108			41,731,343			22,372,978			(217,014,991	)
Total Increase (Decrease) in Net Assets		(1,095,413	)		6,209,094			179,233,508			42,926,495			(129,195,456	)
Net Assets as of December 31, 2016:	$	73,017,096		$	115,967,502		$	5,673,175,806		$	777,003,480		$	2,699,674,301

See Accompanying Notes.

⁽¹⁾  See Footnote 1

24

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Market Participation Strategy Service Class			TA MFS International Equity Initial Class			TA MFS International Equity Service Class			TA Morgan Stanley Capital Growth Initial Class			TA Morgan Stanley Capital Growth Service Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	418,144,147		$	79,559,722		$	62,827,783		$	118,184,347		$	34,839,910
Investment Income:
Reinvested Dividends		—			1,222,548			1,180,061			—			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,171,551			1,148,166			1,103,114			1,633,471			660,849
Net Investment Income (Loss)		(6,171,551	)		74,382			76,947			(1,633,471	)		(660,849	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		16,303,256			—			—			8,514,582			3,934,405
Realized Gain (Loss) on Investments		3,716,754			4,471,311			1,332,986			11,546,982			2,573,808
Net Realized Capital Gains (Losses) on Investments		20,020,010			4,471,311			1,332,986			20,061,564			6,508,213
Net Change in Unrealized Appreciation (Depreciation)		(34,973,956	)		(4,947,339	)		(4,072,034	)		(7,131,057	)		(2,285,365	)
Net Gain (Loss) on Investment		(14,953,946	)		(476,028	)		(2,739,048	)		12,930,507			4,222,848
Net Increase (Decrease) in Net Assets Resulting from Operations		(21,125,497	)		(401,646	)		(2,662,101	)		11,297,036			3,561,999
Increase (Decrease) in Net Assets from Contract Transactions		55,748,721			(8,033,630	)		22,532,029			(25,213,565	)		14,933,229
Total Increase (Decrease) in Net Assets		34,623,224			(8,435,276	)		19,869,928			(13,916,529	)		18,495,228
Net Assets as of December 31, 2015:	$	452,767,371		$	71,124,446		$	82,697,711		$	104,267,818		$	53,335,138
Investment Income:
Reinvested Dividends		714,062			991,276			1,090,723			—			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,254,015			951,438			1,145,639			1,422,288			768,600
Net Investment Income (Loss)		(5,539,953	)		39,838			(54,916	)		(1,422,288	)		(768,600	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		6,490,035			496,051			635,990			14,344,336			8,256,630
Realized Gain (Loss) on Investments		3,380,884			1,343,577			(425,275	)		3,794,332			(15,455	)
Net Realized Capital Gains (Losses) on Investments		9,870,919			1,839,628			210,715			18,138,668			8,241,175
Net Change in Unrealized Appreciation (Depreciation)		7,934,888			(3,029,157	)		(1,543,402	)		(20,711,980	)		(9,585,791	)
Net Gain (Loss) on Investment		17,805,807			(1,189,529	)		(1,332,687	)		(2,573,312	)		(1,344,616	)
Net Increase (Decrease) in Net Assets Resulting from Operations		12,265,854			(1,149,691	)		(1,387,603	)		(3,995,600	)		(2,113,216	)
Increase (Decrease) in Net Assets from Contract Transactions		(12,021,923	)		(4,680,935	)		3,112,737			(7,356,972	)		1,973,884
Total Increase (Decrease) in Net Assets		243,931			(5,830,626	)		1,725,134			(11,352,572	)		(139,332	)
Net Assets as of December 31, 2016:	$	453,011,302		$	65,293,820		$	84,422,845		$	92,915,246		$	53,195,806

See Accompanying Notes.

⁽¹⁾  See Footnote 1

25

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Multi-Managed Balanced Initial Class			TA Multi-Managed Balanced Service Class			TA Multi-Manager Alternative Strategies Service Class			TA PIMCO Tactical - Balanced Service Class			TA PIMCO Tactical - Conservative Service Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	73,575,633		$	270,653,285		$	1,029,166		$	533,120,857		$	132,338,428
Investment Income:
Reinvested Dividends		991,087			3,447,148			5,360			—			580,104
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,061,733			4,250,262			16,036			7,801,053			2,646,211
Net Investment Income (Loss)		(70,646	)		(803,114	)		(10,676	)		(7,801,053	)		(2,066,107	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,464,198			14,001,712			12,101			19,506,100			4,642,670
Realized Gain (Loss) on Investments		1,720,238			5,134,757			(2,785	)		3,255,106			1,643,727
Net Realized Capital Gains (Losses) on Investments		5,184,436			19,136,469			9,316			22,761,206			6,286,397
Net Change in Unrealized Appreciation (Depreciation)		(5,974,237	)		(22,892,603	)		(115,489	)		(38,287,536	)		(12,212,113	)
Net Gain (Loss) on Investment		(789,801	)		(3,756,134	)		(106,173	)		(15,526,330	)		(5,925,716	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(860,447	)		(4,559,248	)		(116,849	)		(23,327,383	)		(7,991,823	)
Increase (Decrease) in Net Assets from Contract Transactions		(1,157,100	)		81,313,819			848,459			62,143,501			99,012,760
Total Increase (Decrease) in Net Assets		(2,017,547	)		76,754,571			731,610			38,816,118			91,020,937
Net Assets as of December 31, 2015:	$	71,558,086		$	347,407,856		$	1,760,776		$	571,936,975		$	223,359,365
Investment Income:
Reinvested Dividends		726,357			5,228,016			41,999			1,686,498			987,047
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,080,640			7,651,445			18,026			7,972,300			3,282,792
Net Investment Income (Loss)		(354,283	)		(2,423,429	)		23,973			(6,285,802	)		(2,295,745	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,459,419			20,339,320			—			—			—
Realized Gain (Loss) on Investments		428,893			1,620,349			(25,612	)		2,371,624			1,374,624
Net Realized Capital Gains (Losses) on Investments		2,888,312			21,959,669			(25,612	)		2,371,624			1,374,624
Net Change in Unrealized Appreciation (Depreciation)		2,050,774			16,043,324			17,856			26,187,946			8,847,951
Net Gain (Loss) on Investment		4,939,086			38,002,993			(7,756	)		28,559,570			10,222,575
Net Increase (Decrease) in Net Assets Resulting from Operations		4,584,803			35,579,564			16,217			22,273,768			7,926,830
Increase (Decrease) in Net Assets from Contract Transactions		2,885,034			521,856,234			(175,886	)		15,940,910			42,096,016
Total Increase (Decrease) in Net Assets		7,469,837			557,435,798			(159,669	)		38,214,678			50,022,846
Net Assets as of December 31, 2016:	$	79,027,923		$	904,843,654		$	1,601,107		$	610,151,653		$	273,382,211

See Accompanying Notes.

⁽¹⁾  See Footnote 1

26

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA PIMCO Tactical - Growth Service Class			TA PIMCO Total Return Initial Class			TA PIMCO Total Return Service Class			TA PineBridge Inflation Opportunities Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	171,846,465		$	245,905,910		$	859,856,281		$	182,242,932
Investment Income:
Reinvested Dividends		—			5,338,577			21,682,640			2,253,316
Investment Expense:
Mortality and Expense Risk and Administrative Charges		3,487,693			3,147,140			11,911,408			2,604,572
Net Investment Income (Loss)		(3,487,693	)		2,191,437			9,771,232			(351,256	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		6,264,639			5,061,690			22,623,475			—
Realized Gain (Loss) on Investments		1,320,701			(154,838	)		(4,050,122	)		(2,181,206	)
Net Realized Capital Gains (Losses) on Investments		7,585,340			4,906,852			18,573,353			(2,181,206	)
Net Change in Unrealized Appreciation (Depreciation)		(18,145,091	)		(8,290,619	)		(35,736,097	)		(5,298,527	)
Net Gain (Loss) on Investment		(10,559,751	)		(3,383,767	)		(17,162,744	)		(7,479,733	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(14,047,444	)		(1,192,330	)		(7,391,512	)		(7,830,989	)
Increase (Decrease) in Net Assets from Contract Transactions		130,805,006			(51,771,662	)		(18,888,316	)		3,845,211
Total Increase (Decrease) in Net Assets		116,757,562			(52,963,992	)		(26,279,828	)		(3,985,778	)
Net Assets as of December 31, 2015:	$	288,604,027		$	192,941,918		$	833,576,453		$	178,257,154
Investment Income:
Reinvested Dividends		—			4,477,719			18,743,258			1,041,227
Investment Expense:
Mortality and Expense Risk and Administrative Charges		4,360,063			2,792,877			11,780,932			2,508,809
Net Investment Income (Loss)		(4,360,063	)		1,684,842			6,962,326			(1,467,582	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			148,397			691,966			—
Realized Gain (Loss) on Investments		984,394			(1,377,576	)		(6,181,135	)		(3,163,036	)
Net Realized Capital Gains (Losses) on Investments		984,394			(1,229,179	)		(5,489,169	)		(3,163,036	)
Net Change in Unrealized Appreciation (Depreciation)		14,188,586			1,836,492			7,649,836			8,321,693
Net Gain (Loss) on Investment		15,172,980			607,313			2,160,667			5,158,657
Net Increase (Decrease) in Net Assets Resulting from Operations		10,812,917			2,292,155			9,122,993			3,691,075
Increase (Decrease) in Net Assets from Contract Transactions		34,827,035			(13,914,903	)		(15,794,282	)		(6,600,744	)
Total Increase (Decrease) in Net Assets		45,639,952			(11,622,748	)		(6,671,289	)		(2,909,669	)
Net Assets as of December 31, 2016:	$	334,243,979		$	181,319,170		$	826,905,164		$	175,347,485

See Accompanying Notes.

⁽¹⁾ See Footnote 1

27

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA ProFunds UltraBear Service Class (OAM)			TA QS Investors Active Asset Allocation - Conservative Service Class			TA QS Investors Active Asset Allocation - Moderate Service Class			TA QS Investors Active Asset Allocation - Moderate Growth Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	18,066,570		$	413,140,719		$	1,586,689,643		$	650,876,591
Investment Income:
Reinvested Dividends		—			4,379,106			15,589,397			6,764,124
Investment Expense:
Mortality and Expense Risk and Administrative Charges		317,248			5,806,251			21,171,889			9,274,689
Net Investment Income (Loss)		(317,248	)		(1,427,145	)		(5,582,492	)		(2,510,565	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			12,679,800			64,628,984			39,308,606
Realized Gain (Loss) on Investments		(5,772,636	)		1,190,875			4,845,553			4,564,821
Net Realized Capital Gains (Losses) on Investments		(5,772,636	)		13,870,675			69,474,537			43,873,427
Net Change in Unrealized Appreciation (Depreciation)		1,262,781			(28,892,011	)		(155,342,713	)		(96,791,769	)
Net Gain (Loss) on Investment		(4,509,855	)		(15,021,336	)		(85,868,176	)		(52,918,342	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,827,103	)		(16,448,481	)		(91,450,668	)		(55,428,907	)
Increase (Decrease) in Net Assets from Contract Transactions		19,570,200			36,270,448			41,887,543			51,426,785
Total Increase (Decrease) in Net Assets		14,743,097			19,821,967			(49,563,125	)		(4,002,122	)
Net Assets as of December 31, 2015:	$	32,809,667		$	432,962,686		$	1,537,126,518		$	646,874,469
Investment Income:
Reinvested Dividends		—			5,547,781			18,533,964			6,675,387
Investment Expense:
Mortality and Expense Risk and Administrative Charges		605,139			5,772,933			19,710,056			8,447,086
Net Investment Income (Loss)		(605,139	)		(225,152	)		(1,176,092	)		(1,771,699	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—
Realized Gain (Loss) on Investments		(9,349,658	)		(1,303,348	)		(3,421,943	)		(8,043,648	)
Net Realized Capital Gains (Losses) on Investments		(9,349,658	)		(1,303,348	)		(3,421,943	)		(8,043,648	)
Net Change in Unrealized Appreciation (Depreciation)		(7,131,852	)		7,341,945			17,811,376			13,180,018
Net Gain (Loss) on Investment		(16,481,510	)		6,038,597			14,389,433			5,136,370
Net Increase (Decrease) in Net Assets Resulting from Operations		(17,086,649	)		5,813,445			13,213,341			3,364,671
Increase (Decrease) in Net Assets from Contract Transactions		18,134,179			(13,639,563	)		(101,550,608	)		(58,800,055	)
Total Increase (Decrease) in Net Assets		1,047,530			(7,826,118	)		(88,337,267	)		(55,435,384	)
Net Assets as of December 31, 2016:	$	33,857,197		$	425,136,568		$	1,448,789,251		$	591,439,085

See Accompanying Notes.

⁽¹⁾ See Footnote 1

28

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Small/ Mid Cap Value Initial Class			TA Small/ Mid Cap Value Service Class			TA T. Rowe Price Small Cap Initial Class			TA T. Rowe Price Small Cap Service Class			TA Torray Concentrated Growth Initial Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	156,210,025		$	91,247,465		$	126,270,687		$	141,930,797		$	191,072,993
Investment Income:
Reinvested Dividends		1,369,169			744,807			—			—			894,066
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,006,645			1,357,713			1,773,652			2,395,848			2,503,829
Net Investment Income (Loss)		(637,476	)		(612,906	)		(1,773,652	)		(2,395,848	)		(1,609,763	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		15,624,664			11,178,382			8,891,417			13,280,694			31,028,105
Realized Gain (Loss) on Investments		6,057,853			429,525			14,272,113			5,809,210			20,207,504
Net Realized Capital Gains (Losses) on Investments		21,682,517			11,607,907			23,163,530			19,089,904			51,235,609
Net Change in Unrealized Appreciation (Depreciation)		(25,692,546	)		(15,134,915	)		(19,070,077	)		(17,031,737	)		(53,384,058	)
Net Gain (Loss) on Investment		(4,010,029	)		(3,527,008	)		4,093,453			2,058,167			(2,148,449	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,647,505	)		(4,139,914	)		2,319,801			(337,681	)		(3,758,212	)
Increase (Decrease) in Net Assets from Contract Transactions		(27,874,305	)		1,462,226			(20,208,222	)		25,123,126			(36,649,055	)
Total Increase (Decrease) in Net Assets		(32,521,810	)		(2,677,688	)		(17,888,421	)		24,785,445			(40,407,267	)
Net Assets as of December 31, 2015:	$	123,688,215		$	88,569,777		$	108,382,266		$	166,716,242		$	150,665,726
Investment Income:
Reinvested Dividends		937,320			488,506			—			—			699,544
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,706,851			1,311,027			1,522,633			2,462,346			2,110,392
Net Investment Income (Loss)		(769,531	)		(822,521	)		(1,522,633	)		(2,462,346	)		(1,410,848	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		12,083,953			9,420,132			12,867,239			22,161,103			—
Realized Gain (Loss) on Investments		1,232,919			(2,491,942	)		5,535,730			2,118,475			7,852,106
Net Realized Capital Gains (Losses) on Investments		13,316,872			6,928,190			18,402,969			24,279,578			7,852,106
Net Change in Unrealized Appreciation (Depreciation)		9,055,489			10,002,219			(7,368,415	)		(6,290,023	)		931,430
Net Gain (Loss) on Investment		22,372,361			16,930,409			11,034,554			17,989,555			8,783,536
Net Increase (Decrease) in Net Assets Resulting from Operations		21,602,830			16,107,888			9,511,921			15,527,209			7,372,688
Increase (Decrease) in Net Assets from Contract Transactions		(15,447,961	)		7,033,167			(5,603,856	)		9,269,323			(16,530,931	)
Total Increase (Decrease) in Net Assets		6,154,869			23,141,055			3,908,065			24,796,532			(9,158,243	)
Net Assets as of December 31, 2016:	$	129,843,084		$	111,710,832		$	112,290,331		$	191,512,774		$	141,507,483

See Accompanying Notes.

⁽¹⁾ See Footnote 1

29

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Torray Concentrated Growth Service Class			TA TS&W International Equity Initial Class			TA TS&W International Equity Service Class			TA WMC US Growth Initial Class			TA WMC US Growth Service Class
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	36,258,952		$	87,463,695		$	29,124,189		$	301,151,694		$	77,258,557
Investment Income:
Reinvested Dividends		115,420			2,492,158			1,015,642			1,978,905			465,538
Investment Expense:
Mortality and Expense Risk and Administrative Charges		560,346			1,210,147			500,201			4,086,020			1,267,022
Net Investment Income (Loss)		(444,926	)		1,282,011			515,441			(2,107,115	)		(801,484	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		6,954,626			—			—			86,819,517			29,353,729
Realized Gain (Loss) on Investments		492,536			2,286,539			802,978			21,399,301			1,902,673
Net Realized Capital Gains (Losses) on Investments		7,447,162			2,286,539			802,978			108,218,818			31,256,402
Net Change in Unrealized Appreciation (Depreciation)		(8,197,958	)		(3,154,963	)		(1,960,711	)		(90,078,369	)		(26,738,755	)
Net Gain (Loss) on Investment		(750,796	)		(868,424	)		(1,157,733	)		18,140,449			4,517,647
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,195,722	)		413,587			(642,292	)		16,033,334			3,716,163
Increase (Decrease) in Net Assets from Contract Transactions		(2,081,812	)		(11,308,328	)		7,571,877			(59,298,693	)		15,996,958
Total Increase (Decrease) in Net Assets		(3,277,534	)		(10,894,741	)		6,929,585			(43,265,359	)		19,713,121
Net Assets as of December 31, 2015:	$	32,981,418		$	76,568,954		$	36,053,774		$	257,886,335		$	96,971,678
Investment Income:
Reinvested Dividends		44,491			1,992,611			927,427			986,109			170,663
Investment Expense:
Mortality and Expense Risk and Administrative Charges		481,142			1,042,729			522,220			3,544,463			1,390,765
Net Investment Income (Loss)		(436,651	)		949,882			405,207			(2,558,354	)		(1,220,102	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			10,189,114			4,166,092
Realized Gain (Loss) on Investments		(741,465	)		366,738			(733,105	)		1,267,187			(3,290,490	)
Net Realized Capital Gains (Losses) on Investments		(741,465	)		366,738			(733,105	)		11,456,301			875,602
Net Change in Unrealized Appreciation (Depreciation)		2,553,875			(1,768,516	)		179,442			(5,959,260	)		1,120,971
Net Gain (Loss) on Investment		1,812,410			(1,401,778	)		(553,663	)		5,497,041			1,996,573
Net Increase (Decrease) in Net Assets Resulting from Operations		1,375,759			(451,896	)		(148,456	)		2,938,687			776,471
Increase (Decrease) in Net Assets from Contract Transactions		(1,825,549	)		(4,212,086	)		(1,794,580	)		(23,846,668	)		601,271
Total Increase (Decrease) in Net Assets		(449,790	)		(4,663,982	)		(1,943,036	)		(20,907,981	)		1,377,742
Net Assets as of December 31, 2016:	$	32,531,628		$	71,904,972		$	34,110,738		$	236,978,354		$	98,349,420

See Accompanying Notes.

⁽¹⁾ See Footnote 1

30

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Vanguard® Equity Index			Vanguard® International			Vanguard® Mid-Cap Index			Vanguard® REIT Index			Vanguard® Short-Term Investment Grade
	Subaccount			Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2014:	$	948,899		$	424,932		$	427,668		$	315,866		$	1,468,028
Investment Income:
Reinvested Dividends		15,889			7,942			5,068			5,339			31,013
Investment Expense:
Mortality and Expense Risk and Administrative Charges		8,332			4,272			4,155			2,238			12,173
Net Investment Income (Loss)		7,557			3,670			913			3,101			18,840
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		29,098			6,524			22,709			10,104			315
Realized Gain (Loss) on Investments		24,843			(8,903	)		(1,946	)		4,072			(1,786	)
Net Realized Capital Gains (Losses) on Investments		53,941			(2,379	)		20,763			14,176			(1,471	)
Net Change in Unrealized Appreciation (Depreciation)		(62,998	)		(44,994	)		(44,565	)		(12,919	)		(14,283	)
Net Gain (Loss) on Investment		(9,057	)		(47,373	)		(23,802	)		1,257			(15,754	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,500	)		(43,703	)		(22,889	)		4,358			3,086
Increase (Decrease) in Net Assets from Contract Transactions		905,224			788,000			483,889			29,809			1,431,249
Total Increase (Decrease) in Net Assets		903,724			744,297			461,000			34,167			1,434,335
Net Assets as of December 31, 2015:	$	1,852,623		$	1,169,229		$	888,668		$	350,033		$	2,902,363
Investment Income:
Reinvested Dividends		46,967			17,847			12,698			9,472			53,677
Investment Expense:
Mortality and Expense Risk and Administrative Charges		13,365			8,156			5,778			2,503			17,967
Net Investment Income (Loss)		33,602			9,691			6,920			6,969			35,710
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		38,366			20,779			63,140			25,132			—
Realized Gain (Loss) on Investments		36,000			(1,711	)		(12,078	)		6,152			(4,329	)
Net Realized Capital Gains (Losses) on Investments		74,366			19,068			51,062			31,284			(4,329	)
Net Change in Unrealized Appreciation (Depreciation)		108,455			(501	)		28,394			(10,552	)		26,697
Net Gain (Loss) on Investment		182,821			18,567			79,456			20,732			22,368
Net Increase (Decrease) in Net Assets Resulting from Operations		216,423			28,258			86,376			27,701			58,078
Increase (Decrease) in Net Assets from Contract Transactions		(148,300	)		32,058			(129,206	)		(18,992	)		(242,521	)
Total Increase (Decrease) in Net Assets		68,123			60,316			(42,830	)		8,709			(184,443	)
Net Assets as of December 31, 2016:	$	1,920,746		$	1,229,545		$	845,838		$	358,742		$	2,717,920

See Accompanying Notes.

⁽¹⁾ See Footnote 1

31

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Vanguard® Total Bond Market Index Subaccount		Voya Global Perspectives Class S Shares Subaccount(1)		Voya Large Cap Value Class S Shares Subaccount(1)		Voya Strategic Allocation Conservative Class S Shares Subaccount(1)		Voya Strategic Allocation Moderate Class S Shares Subaccount(1)
Net Assets as of December 31, 2014:	$	823,633	$	—	$	—	$	—	$	—
Investment Income:
Reinvested Dividends		17,769		—		—		—		—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,103		36		—		—		—
Net Investment Income (Loss)		11,666		(36)		—		—		—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,332		—		—		—		—
Realized Gain (Loss) on Investments		(3,066)		—		—		—		—
Net Realized Capital Gains (Losses) on Investments		266		—		—		—		—
Net Change in Unrealized Appreciation (Depreciation)		(13,899)		(115)		—		—		—
Net Gain (Loss) on Investment		(13,633)		(115)		—		—		—
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,967)		(151)		—		—		—
Increase (Decrease) in Net Assets from Contract Transactions		805,933		15,179		—		—		—
Total Increase (Decrease) in Net Assets		803,966		15,028		—		—		—
Net Assets as of December 31, 2015:	$	1,627,599	$	15,028	$	—	$	—	$	—
Investment Income:
Reinvested Dividends		36,099		412		21		—		—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		10,431		204		9		—		—
Net Investment Income (Loss)		25,668		208		12		—		—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		4,301		—		28		—		—
Realized Gain (Loss) on Investments		(476)		10		1		—		—
Net Realized Capital Gains (Losses) on Investments		3,825		10		29		—		—
Net Change in Unrealized Appreciation (Depreciation)		924		579		102		—		—
Net Gain (Loss) on Investment		4,749		589		131		—		—
Net Increase (Decrease) in Net Assets Resulting from Operations		30,417		797		143		—		—
Increase (Decrease) in Net Assets from Contract Transactions		(174,491)		296		863		—		—
Total Increase (Decrease) in Net Assets		(144,074)		1,093		1,006		—		—
Net Assets as of December 31, 2016:	$	1,483,525	$	16,121	$	1,006	$	—	$	—

See Accompanying Notes.

⁽¹⁾ See Footnote 1

32

Transamerica Life Insurance Company

Separate Account VA B

Statement of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Wanger International Subaccount			Wanger USA Subaccount
Net Assets as of December 31, 2014:	$	232,919		$	204,779
Investment Income:
Reinvested Dividends		3,791			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,260			1,646
Net Investment Income (Loss)		2,531			(1,646	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		21,340			34,162
Realized Gain (Loss) on Investments		(684	)		(5,597	)
Net Realized Capital Gains (Losses) on Investments		20,656			28,565
Net Change in Unrealized Appreciation (Depreciation)		(24,338	)		(42,594	)
Net Gain (Loss) on Investment		(3,682	)		(14,029	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,151	)		(15,675	)
Increase (Decrease) in Net Assets from Contract Transactions		86,313			85,341
Total Increase (Decrease) in Net Assets		85,162			69,666
Net Assets as of December 31, 2015:	$	318,081		$	274,445
Investment Income:
Reinvested Dividends		3,641			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,478			1,066
Net Investment Income (Loss)		2,163			(1,066	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		24,818			43,647
Realized Gain (Loss) on Investments		(13,782	)		(15,073	)
Net Realized Capital Gains (Losses) on Investments		11,036			28,574
Net Change in Unrealized Appreciation (Depreciation)		(19,559	)		(9,800	)
Net Gain (Loss) on Investment		(8,523	)		18,774
Net Increase (Decrease) in Net Assets Resulting from Operations		(6,360	)		17,708
Increase (Decrease) in Net Assets from Contract Transactions		(3,438	)		(114,841	)
Total Increase (Decrease) in Net Assets		(9,798	)		(97,133	)
Net Assets as of December 31, 2016:	$	308,283		$	177,312

See Accompanying Notes.

⁽¹⁾ See Footnote 1

33

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

1. Organization

Separate Account VA B (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of AEGON N.V., a holding company organized under the laws of The Netherlands.

The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. TLIC and the Separate Account are regulated by the Securities and Exchange Commission. The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC other assets and liabilities. The Separate Account consists of multiple investment subaccounts. Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund. Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specified investment subaccounts is available to contract owners of Transamerica Variable Annuity Series, MEMBERS^® Variable Annuity Series, Partners Variable Annuity Series, Transamerica Landmark^SM Variable Annuity, MEMBERS^® Landmark^SM Variable Annuity, Transamerica Freedom^SM Variable Annuity, MEMBERS^® Freedom^SM Variable Annuity, Transamerica Advisor Elite II, Transamerica Income Elite^SM II, Transamerica Axiom^SM II, Transamerica Principium^SM III, Transamerica Retirement Income Plus, Transamerica Variable Annuity O-Share, Transamerica ABC Variable Annuity Series, Transamerica 123 Variable Annuity, Transamerica Extra^SM Variable Annuity, MEMBERS^® Extra^SM Variable Annuity, Transamerica LibertyS^SM Variable Annuity, MEMBERS^® Liberty^SM Variable Annuity, Transamerica Advisor Elite^SM Variable Annuity, Income Elite^SM Variable Annuity, Transamerica Axiom^SM Variable Annuity, and Transamerica Principium^SM II Variable Annuity.

The TA Profunds UltraBear-Open Allocation Method-Service Class (OAM) is included in the subaccount listing only to facilitate a contract owner purchase option.

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
AB Variable Products Series Fund, Inc.	AB Variable Products Series Fund, Inc.
AB Balanced Wealth Strategy Class B Shares	AB Balanced Wealth Strategy Portfolio Class B Shares
AB Growth and Income Class B Shares	AB Growth and Income Portfolio Class B Shares
AB Large Cap Growth Class B Shares	AB Large Cap Growth Portfolio Class B Shares
American Funds Insurance Series®	American Funds Insurance Series®
American Funds - Asset Allocation Class 2 Shares	American Funds - Asset Allocation Fund Class 2 Shares
American Funds - Bond Class 2 Shares	American Funds - Bond Fund Class 2 Shares
American Funds - Growth Class 2 Shares	American Funds - Growth Fund Class 2 Shares
American Funds - Growth-Income Class 2 Shares	American Funds - Growth-Income Fund Class 2 Shares
American Funds - International Class 2 Shares	American Funds - International Fund Class 2 Shares
BlackRock Variable Series Funds, Inc.	BlackRock Variable Series Funds, Inc.
BlackRock Basic Value V.I. Class I Shares	BlackRock Basic Value V.I. Fund Class I Shares
BlackRock Global Allocation V.I. Class I Shares	BlackRock Global Allocation V.I. Fund Class I Shares
BlackRock High Yield V.I. Class I Shares	BlackRock High Yield V.I. Fund Class I Shares
Mutual Fund and Variable Insurance Trust	Mutual Fund and Variable Insurance Trust
Catalyst Dividend Capture VA	Catalyst Dividend Capture VA Fund
Catalyst Insider Buying VA	Catalyst Insider Buying VA Fund
Fidelity® Variable Insurance Products Fund	Fidelity® Variable Insurance Products Fund
Fidelity® VIP Balanced Service Class 2	Fidelity® VIP Balanced Service Portfolio Class 2
Fidelity® VIP Contrafund® Initial Class	Fidelity® VIP Contrafund® Portfolio Initial Class
Fidelity® VIP Contrafund® Service Class 2	Fidelity® VIP Contrafund® Portfolio Service Class 2
Fidelity® VIP Equity-Income Initial Class	Fidelity® VIP Equity-Income Portfolio Initial Class

34

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Fidelity® Variable Insurance Products Fund	Fidelity® Variable Insurance Products Fund
Fidelity® VIP Equity-Income Service Class 2	Fidelity® VIP Equity-Income Portfolio Service Class 2
Fidelity® VIP Growth Initial Class	Fidelity® VIP Growth Portfolio Initial Class
Fidelity® VIP Growth Service Class 2	Fidelity® VIP Growth Portfolio Service Class 2
Fidelity® VIP Growth Opportunities Service Class 2	Fidelity® VIP Growth Opportunities Portfolio Service Class 2
Fidelity® VIP Mid Cap Initial Class	Fidelity® VIP Mid Cap Portfolio Initial Class
Fidelity® VIP Mid Cap Service Class 2	Fidelity® VIP Mid Cap Portfolio Service Class 2
Fidelity® VIP Value Strategies Initial Class	Fidelity® VIP Value Strategies Portfolio Initial Class
Fidelity® VIP Value Strategies Service Class 2	Fidelity® VIP Value Strategies Portfolio Service Class 2
Franklin Templeton Variable Insurance Products Trust	Franklin Templeton Variable Insurance Products Trust
Franklin Founding Funds Allocation Class 4 Shares	Franklin Founding Funds Allocation Fund Class 4 Shares
Franklin Income Class 2 Shares	Franklin Income Class Fund 2 Shares
Franklin Mutual Shares Class 2 Shares	Franklin Mutual Shares Fund Class 2 Shares
Franklin Templeton Foreign Class 2 Shares	Franklin Templeton Foreign Fund Class 2 Shares
AIM Variable Insurance Funds (Invesco Variable Insurance Funds)	AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
Invesco V.I. American Franchise Series II Shares	Invesco V.I. American Franchise Fund Series II Shares
Invesco V.I. Value Opportunities Series II Shares	Invesco V.I. Value Opportunities Fund Series II Shares
Janus Aspen Series	Janus Aspen Series
Janus Aspen - Enterprise Service Shares	Janus Aspen - Enterprise Portfolio Service Shares
Janus Aspen - Global Research Service Shares	Janus Aspen - Global Research Portfolio Service Shares
Janus Aspen - Perkins Mid Cap Value Service Shares	Janus Aspen - Perkins Mid Cap Value Portfolio Service Shares
MFS® Variable Insurance Trust	MFS® Variable Insurance Trust
MFS® New Discovery Service Class	MFS® New Discovery Series Service Class
MFS® Total Return Service Class	MFS® Total Return Series Service Class
Nationwide Variable Insurance Trust	Nationwide Variable Insurance Trust
NVIT Emerging Markets Class D Shares	NVIT Emerging Markets Fund Class D Shares
State Street Variable Insurance Series Funds, Inc.	State Street Variable Insurance Series Funds, Inc.
State Street Total Return V.I.S. Class 3 Shares	State Street Total Return V.I.S. Fund Class 3 Shares
Transamerica Series Trust	Transamerica Series Trust
TA AB Dynamic Allocation Initial Class	Transamerica AB Dynamic Allocation VP Initial Class
TA AB Dynamic Allocation Service Class	Transamerica AB Dynamic Allocation VP Service Class
TA Aegon Government Money Market Initial Class	Transamerica Aegon Government Money Market VP Initial Class
TA Aegon Government Money Market Service Class	Transamerica Aegon Government Money Market VP Service Class
TA Aegon High Yield Bond Initial Class	Transamerica Aegon High Yield Bond VP Initial Class
TA Aegon High Yield Bond Service Class	Transamerica Aegon High Yield Bond VP Service Class
TA Aegon U.S. Government Securities Initial Class	Transamerica Aegon U.S. Government Securities VP Initial Class
TA Aegon U.S. Government Securities Service Class	Transamerica Aegon U.S. Government Securities VP Service Class
TA American Funds Managed Risk - Balanced Service Class	Transamerica American Funds Managed Risk - Balanced VP Service Class
TA Asset Allocation - Conservative Initial Class	Transamerica Asset Allocation - Conservative VP Initial Class
TA Asset Allocation - Conservative Service Class	Transamerica Asset Allocation - Conservative VP Service Class
TA Asset Allocation - Growth Initial Class	Transamerica Asset Allocation - Growth VP Initial Class
TA Asset Allocation - Growth Service Class	Transamerica Asset Allocation - Growth VP Service Class
TA Asset Allocation - Moderate Initial Class	Transamerica Asset Allocation - Moderate VP Initial Class

35

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Transamerica Series Trust	Transamerica Series Trust
TA Asset Allocation - Moderate Service Class	Transamerica Asset Allocation - Moderate VP Service Class
TA Asset Allocation - Moderate Growth Initial Class	Transamerica Asset Allocation - Moderate Growth VP Initial Class
TA Asset Allocation - Moderate Growth Service Class	Transamerica Asset Allocation - Moderate Growth VP Service Class
TA Barrow Hanley Dividend Focused Initial Class	Transamerica Barrow Hanley Dividend Focused VP Initial Class
TA Barrow Hanley Dividend Focused Service Class	Transamerica Barrow Hanley Dividend Focused VP Service Class
TA BlackRock Equity Smart Beta 100 Service Class	Transamerica BlackRock Equity Smart Beta 100 VP Service Class
TA BlackRock Global Allocation Service Class	Transamerica BlackRock Global Allocation VP Service Class
TA BlackRock Global Allocation Managed Risk - Balanced Service Class	Transamerica BlackRock Global Allocation Managed Risk - Balanced VP Service Class
TA BlackRock Global Allocation Managed Risk - Growth Service Class	Transamerica BlackRock Global Allocation Managed Risk - Growth VP Service Class
TA BlackRock Smart Beta 50 Service Class	Transamerica BlackRock Smart Beta 50 VP Service Class
TA BlackRock Smart Beta 75 Service Class	Transamerica BlackRock Smart Beta 75 VP Service Class
TA BlackRock Tactical Allocation Service Class	Transamerica BlackRock Tactical Allocation VP Service Class
TA Clarion Global Real Estate Securities Initial Class	Transamerica Clarion Global Real Estate Securities VP Initial Class
TA Clarion Global Real Estate Securities Service Class	Transamerica Clarion Global Real Estate Securities VP Service Class
TA International Moderate Growth Initial Class	Transamerica International Moderate Growth VP Initial Class
TA International Moderate Growth Service Class	Transamerica International Moderate Growth VP Service Class
TA Janus Balanced Service Class	Transamerica Janus Balanced VP Service Class
TA Janus Mid-Cap Growth Initial Class	Transamerica Janus Mid-Cap Growth VP Initial Class
TA Janus Mid-Cap Growth Service Class	Transamerica Janus Mid-Cap Growth VP Service Class
TA Jennison Growth Initial Class	Transamerica Jennison Growth VP Initial Class
TA Jennison Growth Service Class	Transamerica Jennison Growth VP Service Class
TA JPMorgan Core Bond Service Class	Transamerica JPMorgan Core Bond VP Service Class
TA JPMorgan Enhanced Index Initial Class	Transamerica JPMorgan Enhanced Index VP Initial Class
TA JPMorgan Enhanced Index Service Class	Transamerica JPMorgan Enhanced Index VP Service Class
TA JPMorgan Mid Cap Value Service Class	Transamerica JPMorgan Mid Cap Value VP Service Class
TA JPMorgan Tactical Allocation Service Class	Transamerica JPMorgan Tactical Allocation VP Service Class
TA Legg Mason Dynamic Allocation - Balanced Service Class	Transamerica Legg Mason Dynamic Allocation - Balanced VP Service Class
TA Legg Mason Dynamic Allocation - Growth Service Class	Transamerica Legg Mason Dynamic Allocation - Growth VP Service Class
TA Madison Balanced Allocation Service Class	Transamerica Madison Balanced Allocation VP Service Class
TA Madison Conservative Allocation Service Class	Transamerica Madison Conservative Allocation VP Service Class
TA Madison Diversified Income Service Class	Transamerica Madison Diversified Income VP Service Class
TA Managed Risk - Balanced ETF Service Class	Transamerica Managed Risk - Balanced ETF VP Service Class
TA Managed Risk - Conservative ETF Service Class	Transamerica Managed Risk - Conservative ETF VP Service Class
TA Managed Risk - Growth ETF Service Class	Transamerica Managed Risk - Growth ETF VP Service Class
TA Market Participation Strategy Service Class	Transamerica Market Participation Strategy VP Service Class
TA MFS International Equity Initial Class	Transamerica MFS International Equity VP Initial Class
TA MFS International Equity Service Class	Transamerica MFS International Equity VP Service Class
TA Morgan Stanley Capital Growth Initial Class	Transamerica Morgan Stanley Capital Growth VP Initial Class
TA Morgan Stanley Capital Growth Service Class	Transamerica Morgan Stanley Capital Growth VP Service Class

36

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Transamerica Series Trust	Transamerica Series Trust
TA Multi-Managed Balanced Initial Class	Transamerica Multi-Managed Balanced VP Initial Class
TA Multi-Managed Balanced Service Class	Transamerica Multi-Managed Balanced VP Service Class
TA Multi-Manager Alternative Strategies Service Class	Transamerica Multi-Manager Alternative Strategies VP Service Class
TA PIMCO Tactical - Balanced Service Class	Transamerica PIMCO Tactical - Balanced VP Service Class
TA PIMCO Tactical - Conservative Service Class	Transamerica PIMCO Tactical - Conservative VP Service Class
TA PIMCO Tactical - Growth Service Class	Transamerica PIMCO Tactical - Growth VP Service Class
TA PIMCO Total Return Initial Class	Transamerica PIMCO Total Return VP Initial Class
TA PIMCO Total Return Service Class	Transamerica PIMCO Total Return VP Service Class
TA PineBridge Inflation Opportunities Service Class	Transamerica PineBridge Inflation Opportunities VP Service Class
TA ProFunds UltraBear Service Class (OAM)	Transamerica ProFunds UltraBear VP Service Class (OAM)
TA QS Investors Active Asset Allocation - Conservative Service Class	Transamerica QS Investors Active Asset Allocation - Conservative VP Service Class
TA QS Investors Active Asset Allocation - Moderate Service Class	Transamerica QS Investors Active Asset Allocation - Moderate VP Service Class
TA QS Investors Active Asset Allocation - Moderate Growth Service Class	Transamerica QS Investors Active Asset Allocation - Moderate Growth VP Service Class
TA Small/Mid Cap Value Initial Class	Transamerica Small/Mid Cap Value VP Initial Class
TA Small/Mid Cap Value Service Class	Transamerica Small/Mid Cap Value VP Service Class
TA T. Rowe Price Small Cap Initial Class	Transamerica T. Rowe Price Small Cap VP Initial Class
TA T. Rowe Price Small Cap Service Class	Transamerica T. Rowe Price Small Cap VP Service Class
TA Torray Concentrated Growth Initial Class	Transamerica Torray Concentrated Growth VP Initial Class
TA Torray Concentrated Growth Service Class	Transamerica Torray Concentrated Growth VP Service Class
TA TS&W International Equity Initial Class	Transamerica TS&W International Equity VP Initial Class
TA TS&W International Equity Service Class	Transamerica TS&W International Equity VP Service Class
TA WMC US Growth Initial Class	Transamerica WMC US Growth VP Initial Class
TA WMC US Growth Service Class	Transamerica WMC US Growth VP Service Class
Vanguard® Variable Insurance Fund	Vanguard® Variable Insurance Fund
Vanguard® Equity Index	Vanguard® Equity Index Portfolio
Vanguard® International	Vanguard® International Portfolio
Vanguard® Mid-Cap Index	Vanguard® Mid-Cap Index Portfolio
Vanguard® REIT Index	Vanguard® REIT Index Portfolio
Vanguard® Short-Term Investment Grade	Vanguard® Short-Term Investment Grade Portfolio
Vanguard® Total Bond Market Index	Vanguard® Total Bond Market Index Portfolio
Voya Investors Trust	Voya Investors Trust
Voya Global Perspectives Class S Shares	Voya Global Perspectives Portfolio Class S Shares
Voya Large Cap Value Class S Shares	Voya Large Cap Value Portfolio Class S Shares
Voya Strategic Allocation Portfolios, Inc.	Voya Strategic Allocation Portfolios, Inc.
Voya Strategic Allocation Conservative Class S Shares	Voya Strategic Allocation Conservative Portfolio Class S Shares
Voya Strategic Allocation Moderate Class S Shares	Voya Strategic Allocation Moderate Portfolio Class S Shares

37

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Wanger Advisors Trust	Wanger Advisors Trust
Wanger International	Wanger International
Wanger USA	Wanger USA

Each period reported on reflects a full twelve month period except as follows:

Subaccount	Inception Date
NVIT Emerging Markets Class D Shares	August 4, 2016
TA BlackRock Equity Smart Beta 100 Service Class	March 21, 2016
TA BlackRock Smart Beta 50 Service Class	March 21, 2016
TA BlackRock Smart Beta 75 Service Class	March 21, 2016
TA American Funds Managed Risk - Balanced Service Class	May 1, 2015
Voya Global Perspectives Class S Shares	May 1, 2015
Voya Large Cap Value Class S Shares	May 1, 2015
Voya Strategic Allocation Conservative Class S Shares	May 1, 2015
Voya Strategic Allocation Moderate Class S Shares	May 1, 2015
TA BlackRock Global Allocation Managed Risk - Balanced Service Class	November 10, 2014
TA BlackRock Global Allocation Managed Risk - Growth Service Class	November 10, 2014
TA Multi-Manager Alternative Strategies Service Class	November 4, 2013
TA Market Participation Strategy Service Class	September 17, 2012
TA Legg Mason Dynamic Allocation - Balanced Service Class	May 1, 2012
TA Legg Mason Dynamic Allocation - Growth Service Class	May 1, 2012
Invesco V.I. American Franchise Series II Shares	April 27, 2012

The following subaccount name changes were made effective during the fiscal year ended December 31, 2016:

Subaccount	Formerly
Catalyst Dividend Capture VA	Huntington VA Dividend Capture
Catalyst Insider Buying VA	Huntington VA Situs
State Street Total Return V.I.S. Class 3 Shares	GE Investments Total Return Class 3 Shares
TA Aegon Government Money Market Initial Class	TA Aegon Money Market Initial Class
TA Aegon Government Money Market Service Class	TA Aegon Money Market Service Class
TA Janus Mid-Cap Growth Initial Class	TA Morgan Stanley Mid-Cap Growth Initial Class
TA Janus Mid-Cap Growth Service Class	TA Morgan Stanley Mid-Cap Growth Service Class
TA Small/Mid Cap Value Initial Class	TA Systematic Small/Mid Cap Value Initial Class
TA Small/Mid Cap Value Service Class	TA Systematic Small/Mid Cap Value Service Class

38

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

During the current year the following subaccounts were liquidated and subsequently reinvested:

Reinvested Subaccount	Liquidated Subaccount
NVIT Emerging Markets Class D Shares	NVIT Developing Markets Class II Shares
TA Janus Mid-Cap Growth Service Class	TA Voya Mid Cap Opportunities Service Class
TA JPMorgan Core Bond Service Class	TA Voya Limited Maturity Bond Service Class

39

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

2. Summary of Significant Accounting Policies

The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities. Actual results could differ from those estimates.

Investments

Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2016.

Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets.

Dividend Income

Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares.

Fair Value Measurements and Fair Value Hierarchy

The Accounting Standards Codification™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.

The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows:

Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.

Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

a) Quoted prices for similar assets or liabilities in active markets

b) Quoted prices for identical or similar assets or liabilities in non-active markets

c) Inputs other than quoted market prices that are observable

d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means.

Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.

All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1.

There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2016.

40

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

3. Investments

The Aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2016 were as follows:

Subaccount	Purchases		Sales
AB Balanced Wealth Strategy Class B Shares	$	19,706,044	$	17,059,044
AB Growth and Income Class B Shares		58,822,052		39,982,395
AB Large Cap Growth Class B Shares		4,339,909		3,880,186
American Funds - Asset Allocation Class 2 Shares		166,369,332		71,343,326
American Funds - Bond Class 2 Shares		67,993,734		34,332,840
American Funds - Growth Class 2 Shares		98,812,122		38,633,413
American Funds - Growth-Income Class 2 Shares		108,705,382		32,788,639
American Funds - International Class 2 Shares		51,909,784		29,687,114
BlackRock Basic Value V.I. Class I Shares		1,384,419		2,856,740
BlackRock Global Allocation V.I. Class I Shares		541,765		2,031,298
BlackRock High Yield V.I. Class I Shares		386,944		1,060,664
Catalyst Dividend Capture VA		142,849		313,944
Catalyst Insider Buying VA		813,116		350,237
Fidelity® VIP Balanced Service Class 2		78,698,528		50,840,171
Fidelity® VIP Contrafund® Initial Class		113,011		366,218
Fidelity® VIP Contrafund® Service Class 2		108,832,472		77,617,511
Fidelity® VIP Equity-Income Initial Class		22,722		35,124
Fidelity® VIP Equity-Income Service Class 2		4,674,746		6,946,364
Fidelity® VIP Growth Initial Class		16,101		32,262
Fidelity® VIP Growth Service Class 2		4,956,516		7,535,321
Fidelity® VIP Growth Opportunities Service Class 2		217,509		352,621
Fidelity® VIP Mid Cap Initial Class		6,988		8,469
Fidelity® VIP Mid Cap Service Class 2		53,960,595		49,684,631
Fidelity® VIP Value Strategies Initial Class		140,992		62,073
Fidelity® VIP Value Strategies Service Class 2		20,330,796		25,919,639
Franklin Founding Funds Allocation Class 4 Shares		8,550,493		17,624,569
Franklin Income Class 2 Shares		5,546,453		18,468,382
Franklin Mutual Shares Class 2 Shares		2,023,557		2,803,846
Franklin Templeton Foreign Class 2 Shares		1,711,858		5,741,805
Invesco V.I. American Franchise Series II Shares		676,660		1,047,850
Invesco V.I. Value Opportunities Series II Shares		5,366,019		3,238,863
Janus Aspen - Enterprise Service Shares		2,102,334		2,705,310
Janus Aspen - Global Research Service Shares		654,158		4,869,165
Janus Aspen - Perkins Mid Cap Value Service Shares		426,823		269,976
MFS® New Discovery Service Class		3,195,764		8,170,436
MFS® Total Return Service Class		3,392,227		8,042,463

41

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

3. Investments (continued)

Subaccount	Purchases		Sales
NVIT Emerging Markets Class D Shares	$	20,676	$	1,061
State Street Total Return V.I.S. Class 3 Shares		8,060,423		10,336,841
TA AB Dynamic Allocation Initial Class		2,248,075		4,376,247
TA AB Dynamic Allocation Service Class		35,729,010		44,637,975
TA Aegon Government Money Market Initial Class		61,610,623		70,297,649
TA Aegon Government Money Market Service Class		350,783,717		350,588,807
TA Aegon High Yield Bond Initial Class		18,392,984		19,304,290
TA Aegon High Yield Bond Service Class		84,351,898		77,887,742
TA Aegon U.S. Government Securities Initial Class		19,273,767		16,499,587
TA Aegon U.S. Government Securities Service Class		284,994,326		250,874,501
TA American Funds Managed Risk - Balanced Service Class		238,671,628		10,273,811
TA Asset Allocation - Conservative Initial Class		38,451,779		51,876,609
TA Asset Allocation - Conservative Service Class		151,354,372		170,848,961
TA Asset Allocation - Growth Initial Class		16,369,084		44,103,413
TA Asset Allocation - Growth Service Class		28,360,417		46,557,388
TA Asset Allocation - Moderate Initial Class		42,494,397		60,569,142
TA Asset Allocation - Moderate Service Class		333,379,626		511,686,550
TA Asset Allocation - Moderate Growth Initial Class		60,891,640		77,378,334
TA Asset Allocation - Moderate Growth Service Class		436,111,010		419,517,098
TA Barrow Hanley Dividend Focused Initial Class		20,339,325		46,927,219
TA Barrow Hanley Dividend Focused Service Class		30,714,471		24,950,885
TA BlackRock Equity Smart Beta 100 Service Class		24,653,680		1,610,718
TA BlackRock Global Allocation Service Class		207,530,815		160,927,260
TA BlackRock Global Allocation Managed Risk - Balanced Service Class		70,959,135		25,239,128
TA BlackRock Global Allocation Managed Risk - Growth Service Class		57,276,497		26,674,897
TA BlackRock Smart Beta 50 Service Class		44,540,782		2,489,043
TA BlackRock Smart Beta 75 Service Class		12,172,855		751,952
TA BlackRock Tactical Allocation Service Class		215,103,310		160,805,890
TA Clarion Global Real Estate Securities Initial Class		5,500,307		10,387,866
TA Clarion Global Real Estate Securities Service Class		16,413,894		20,482,921
TA International Moderate Growth Initial Class		3,791		1,080
TA International Moderate Growth Service Class		54,609,359		93,873,925
TA Janus Balanced Service Class		185,101,744		74,956,356
TA Janus Mid-Cap Growth Initial Class		10,846,200		12,302,027
TA Janus Mid-Cap Growth Service Class		19,593,678		16,630,611
TA Jennison Growth Initial Class		37,668,045		30,090,816

42

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

3. Investments (continued)

Subaccount	Purchases		Sales
TA Jennison Growth Service Class	$	39,313,613	$	29,075,367
TA JPMorgan Core Bond Service Class		90,065,987		37,550,586
TA JPMorgan Enhanced Index Initial Class		12,858,067		15,763,911
TA JPMorgan Enhanced Index Service Class		18,040,927		9,284,334
TA JPMorgan Mid Cap Value Service Class		87,772,896		37,345,072
TA JPMorgan Tactical Allocation Service Class		216,855,726		93,907,367
TA Legg Mason Dynamic Allocation - Balanced Service Class		205,420,142		110,281,629
TA Legg Mason Dynamic Allocation - Growth Service Class		103,879,493		97,919,617
TA Madison Balanced Allocation Service Class		13,964,936		8,718,495
TA Madison Conservative Allocation Service Class		7,473,428		9,493,181
TA Madison Diversified Income Service Class		11,487,299		10,528,733
TA Managed Risk - Balanced ETF Service Class		525,099,812		416,853,909
TA Managed Risk - Conservative ETF Service Class		142,848,137		110,972,009
TA Managed Risk - Growth ETF Service Class		218,413,179		427,721,544
TA Market Participation Strategy Service Class		39,277,943		50,349,715
TA MFS International Equity Initial Class		7,752,506		11,897,495
TA MFS International Equity Service Class		19,540,978		15,847,123
TA Morgan Stanley Capital Growth Initial Class		21,596,351		16,031,153
TA Morgan Stanley Capital Growth Service Class		25,360,196		15,898,290
TA Multi-Managed Balanced Initial Class		15,788,748		10,798,494
TA Multi-Managed Balanced Service Class		588,323,326		48,551,063
TA Multi-Manager Alternative Strategies Service Class		282,104		434,017
TA PIMCO Tactical - Balanced Service Class		63,731,599		54,076,246
TA PIMCO Tactical - Conservative Service Class		66,023,446		26,223,245
TA PIMCO Tactical - Growth Service Class		68,426,158		37,959,361
TA PIMCO Total Return Initial Class		29,516,882		41,598,569
TA PIMCO Total Return Service Class		124,702,318		132,841,877
TA PineBridge Inflation Opportunities Service Class		44,354,011		52,422,397
TA ProFunds UltraBear Service Class (OAM)		57,973,444		40,444,650
TA QS Investors Active Asset Allocation - Conservative Service Class		47,843,086		61,707,704
TA QS Investors Active Asset Allocation - Moderate Service Class		53,385,843		156,112,655
TA QS Investors Active Asset Allocation - Moderate Growth Service Class		42,898,617		103,470,322
TA Small/Mid Cap Value Initial Class		15,326,266		19,459,717
TA Small/Mid Cap Value Service Class		35,327,647		19,697,005
TA T. Rowe Price Small Cap Initial Class		25,017,070		19,276,391
TA T. Rowe Price Small Cap Service Class		61,047,539		32,079,347

43

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

3. Investments (continued)

Subaccount	Purchases		Sales
TA Torray Concentrated Growth Initial Class	$	4,696,565	$	22,638,375
TA Torray Concentrated Growth Service Class		5,940,853		8,203,037
TA TS&W International Equity Initial Class		8,731,301		11,993,471
TA TS&W International Equity Service Class		10,353,900		11,743,263
TA WMC US Growth Initial Class		25,280,252		41,496,242
TA WMC US Growth Service Class		22,622,179		19,074,831
Vanguard® Equity Index		409,180		485,511
Vanguard® International		186,202		123,675
Vanguard® Mid-Cap Index		145,255		204,400
Vanguard® REIT Index		80,474		67,365
Vanguard® Short-Term Investment Grade		270,699		477,517
Vanguard® Total Bond Market Index		151,486		296,008
Voya Global Perspectives Class S Shares		926		422
Voya Large Cap Value Class S Shares		911		9
Voya Strategic Allocation Conservative Class S Shares		—		—
Voya Strategic Allocation Moderate Class S Shares		—		—
Wanger International		79,260		55,717
Wanger USA		44,962		117,223

44

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Units

The change in units outstanding were as follows:

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
AB Balanced Wealth Strategy Class B Shares		4,577,856		(7,871,857	)		(3,294,001	)		7,801,858		(7,845,531	)		(43,673	)
AB Growth and Income Class B Shares		16,757,360		(17,469,368	)		(712,008	)		15,142,282		(22,912,376	)		(7,770,094	)
AB Large Cap Growth Class B Shares		617,367		(2,249,013	)		(1,631,646	)		372,492		(5,577,073	)		(5,204,581	)
American Funds - Asset Allocation Class 2 Shares		47,671,587		(27,321,969	)		20,349,618			30,648,847		(38,928,994	)		(8,280,147	)
American Funds - Bond Class 2 Shares		20,476,877		(18,150,697	)		2,326,180			15,687,246		(15,679,930	)		7,316
American Funds - Growth Class 2 Shares		12,744,488		(13,575,516	)		(831,028	)		13,469,859		(9,801,718	)		3,668,141
American Funds - Growth-Income Class 2 Shares		12,491,516		(9,359,598	)		3,131,918			11,929,525		(10,795,719	)		1,133,806
American Funds - International Class 2 Shares		8,751,397		(13,148,033	)		(4,396,636	)		13,262,738		(11,323,587	)		1,939,151
BlackRock Basic Value V.I. Class I Shares		205,685		(1,011,112	)		(805,427	)		417,309		(2,768,680	)		(2,351,371	)
BlackRock Global Allocation V.I. Class I Shares		219,393		(1,007,025	)		(787,632	)		234,557		(2,517,324	)		(2,282,767	)
BlackRock High Yield V.I. Class I Shares		51,530		(448,970	)		(397,440	)		237,785		(983,239	)		(745,454	)
Catalyst Dividend Capture VA		28,250		(205,201	)		(176,951	)		113,790		(556,578	)		(442,788	)
Catalyst Insider Buying VA		61,397		(248,311	)		(186,914	)		60,627		(834,961	)		(774,334	)
Fidelity® VIP Balanced Service Class 2		28,760,829		(26,805,861	)		1,954,968			37,501,703		(24,254,018	)		13,247,685
Fidelity® VIP Contrafund® Initial Class		18,534		(106,705	)		(88,171	)		118,678		(132,728	)		(14,050	)
Fidelity® VIP Contrafund® Service Class 2		14,749,503		(28,635,135	)		(13,885,632	)		22,292,618		(48,472,864	)		(26,180,246	)
Fidelity® VIP Equity-Income Initial Class		12,302		(25,718	)		(13,416	)		—		(11,173	)		(11,173	)
Fidelity® VIP Equity-Income Service Class 2		337,338		(3,828,617	)		(3,491,279	)		216,384		(8,001,119	)		(7,784,735	)
Fidelity® VIP Growth Initial Class		8,151		(21,195	)		(13,044	)		—		(232	)		(232	)
Fidelity® VIP Growth Service Class 2		782,581		(4,585,757	)		(3,803,176	)		73,277		(6,604,685	)		(6,531,408	)
Fidelity® VIP Growth Opportunities Service Class 2		105,912		(201,872	)		(95,960	)		32,388		(282,670	)		(250,282	)
Fidelity® VIP Mid Cap Initial Class		560		(4,170	)		(3,610	)		16,572		(23,258	)		(6,686	)
Fidelity® VIP Mid Cap Service Class 2		8,057,888		(16,295,207	)		(8,237,319	)		10,441,124		(27,414,540	)		(16,973,416	)
Fidelity® VIP Value Strategies Initial Class		21,120		(23,855	)		(2,735	)		4,449		(3,231	)		1,218
Fidelity® VIP Value Strategies Service Class 2		6,214,470		(11,246,409	)		(5,031,939	)		6,845,417		(17,139,712	)		(10,294,295	)
Franklin Founding Funds Allocation Class 4 Shares		509,827		(9,042,678	)		(8,532,851	)		391,716		(13,307,459	)		(12,915,743	)
Franklin Income Class 2 Shares		1,024,813		(13,767,939	)		(12,743,126	)		916,418		(22,435,970	)		(21,519,552	)

45

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
Franklin Mutual Shares Class 2 Shares		181,921		(2,158,889	)		(1,976,968	)		225,716		(6,105,449	)		(5,879,733	)
Franklin Templeton Foreign Class 2 Shares		568,053		(5,820,055	)		(5,252,002	)		315,934		(11,044,639	)		(10,728,705	)
Invesco V.I. American Franchise Series II Shares		43,705		(662,328	)		(618,623	)		88,958		(1,722,892	)		(1,633,934	)
Invesco V.I. Value Opportunities Series II Shares		133,570		(2,455,738	)		(2,322,168	)		318,641		(5,300,561	)		(4,981,920	)
Janus Aspen - Enterprise Service Shares		231,691		(1,343,533	)		(1,111,842	)		286,041		(3,287,514	)		(3,001,473	)
Janus Aspen - Global Research Service Shares		369,955		(4,174,401	)		(3,804,446	)		350,685		(9,743,887	)		(9,393,202	)
Janus Aspen - Perkins Mid Cap Value Service Shares		15,068		(118,736	)		(103,668	)		28,662		(413,115	)		(384,453	)
MFS® New Discovery Service Class		634,982		(4,009,910	)		(3,374,928	)		338,083		(6,959,525	)		(6,621,442	)
MFS® Total Return Service Class		152,891		(4,401,290	)		(4,248,399	)		160,941		(10,279,469	)		(10,118,528	)
NVIT Emerging Markets Class D Shares		2,011		(104	)		1,907			—		—			—
State Street Total Return V.I.S. Class 3 Shares		3,334,812		(6,485,858	)		(3,151,046	)		2,651,660		(6,425,521	)		(3,773,861	)
TA AB Dynamic Allocation Initial Class		1,240,382		(2,548,909	)		(1,308,527	)		3,215,771		(6,545,324	)		(3,329,553	)
TA AB Dynamic Allocation Service Class		6,008,368		(24,731,613	)		(18,723,245	)		14,960,285		(29,621,326	)		(14,661,041	)
TA Aegon Government Money Market Initial Class		56,224,988		(62,558,630	)		(6,333,642	)		92,230,347		(88,504,587	)		3,725,760
TA Aegon Government Money Market Service Class		178,862,053		(200,684,879	)		(21,822,826	)		235,261,266		(229,681,523	)		5,579,743
TA Aegon High Yield Bond Initial Class		6,640,395		(9,020,389	)		(2,379,994	)		8,206,539		(17,591,260	)		(9,384,721	)
TA Aegon High Yield Bond Service Class		24,001,274		(26,126,532	)		(2,125,258	)		23,771,596		(28,941,335	)		(5,169,739	)
TA Aegon U.S. Government Securities Initial Class		11,879,386		(9,868,404	)		2,010,982			8,122,205		(17,590,816	)		(9,468,611	)
TA Aegon U.S. Government Securities Service Class		75,622,651		(75,528,728	)		93,923			72,407,061		(50,138,862	)		22,268,199
TA American Funds Managed Risk - Balanced Service Class		24,615,790		(963,868	)		23,651,922			12,743,576		(171,797	)		12,571,779
TA Asset Allocation - Conservative Initial Class		19,586,337		(31,111,191	)		(11,524,854	)		15,694,337		(43,125,299	)		(27,430,962	)
TA Asset Allocation - Conservative Service Class		30,018,868		(88,082,485	)		(58,063,617	)		34,431,167		(111,624,027	)		(77,192,860	)
TA Asset Allocation - Growth Initial Class		6,793,260		(24,512,256	)		(17,718,996	)		7,563,918		(53,444,296	)		(45,880,378	)
TA Asset Allocation - Growth Service Class		6,414,031		(21,921,775	)		(15,507,744	)		9,594,475		(18,261,524	)		(8,667,049	)
TA Asset Allocation - Moderate Initial Class		14,245,267		(33,604,411	)		(19,359,144	)		8,759,291		(82,353,501	)		(73,594,210	)
TA Asset Allocation - Moderate Service Class		28,826,637		(232,781,096	)		(203,954,459	)		59,164,618		(248,525,151	)		(189,360,533	)
TA Asset Allocation - Moderate Growth Initial Class		15,252,932		(42,180,513	)		(26,927,581	)		10,713,332		(91,234,803	)		(80,521,471	)

46

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
TA Asset Allocation - Moderate Growth Service Class		44,580,749		(213,203,528	)		(168,622,779	)		63,459,578		(242,790,235	)		(179,330,657	)
TA Barrow Hanley Dividend Focused Initial Class		6,321,900		(20,767,712	)		(14,445,812	)		3,576,024		(47,958,892	)		(44,382,868	)
TA Barrow Hanley Dividend Focused Service Class		7,858,173		(10,458,110	)		(2,599,937	)		6,102,647		(13,773,168	)		(7,670,521	)
TA BlackRock Equity Smart Beta 100 Service Class		2,356,687		(154,038	)		2,202,649			—		—			—
TA BlackRock Global Allocation Service Class		31,886,592		(87,490,264	)		(55,603,672	)		29,409,552		(103,347,929	)		(73,938,377	)
TA BlackRock Global Allocation Managed Risk - Balanced Service Class		6,377,216		(2,623,136	)		3,754,080			13,691,559		(1,076,808	)		12,614,751
TA BlackRock Global Allocation Managed Risk - Growth Service Class		5,040,120		(2,836,125	)		2,203,995			15,825,759		(609,610	)		15,216,149
TA BlackRock Smart Beta 50 Service Class		4,361,085		(231,041	)		4,130,044			—		—			—
TA BlackRock Smart Beta 75 Service Class		1,192,778		(69,530	)		1,123,248			—		—			—
TA BlackRock Tactical Allocation Service Class		21,474,186		(69,537,978	)		(48,063,792	)		32,416,992		(84,494,910	)		(52,077,918	)
TA Clarion Global Real Estate Securities Initial Class		1,856,319		(4,051,687	)		(2,195,368	)		2,822,406		(7,047,644	)		(4,225,238	)
TA Clarion Global Real Estate Securities Service Class		4,555,494		(10,572,342	)		(6,016,848	)		6,690,081		(13,563,450	)		(6,873,369	)
TA International Moderate Growth Initial Class		1,849		(630	)		1,219			584		(597	)		(13	)
TA International Moderate Growth Service Class		16,224,478		(63,931,554	)		(47,707,076	)		36,293,009		(55,311,200	)		(19,018,191	)
TA Janus Balanced Service Class		39,032,182		(33,567,931	)		5,464,251			56,037,894		(19,753,359	)		36,284,535
TA Janus Mid-Cap Growth Initial Class		4,131,990		(8,874,027	)		(4,742,037	)		3,606,230		(20,617,256	)		(17,011,026	)
TA Janus Mid-Cap Growth Service Class		3,608,727		(7,851,191	)		(4,242,464	)		4,119,905		(5,868,903	)		(1,748,998	)
TA Jennison Growth Initial Class		4,439,921		(16,655,789	)		(12,215,868	)		6,382,952		(33,490,066	)		(27,107,114	)
TA Jennison Growth Service Class		4,138,539		(9,768,111	)		(5,629,572	)		8,574,158		(5,806,628	)		2,767,530
TA JPMorgan Core Bond Service Class		25,022,781		(20,520,038	)		4,502,743			20,389,056		(23,149,849	)		(2,760,793	)
TA JPMorgan Enhanced Index Initial Class		4,996,032		(7,280,429	)		(2,284,397	)		7,566,713		(15,205,669	)		(7,638,956	)
TA JPMorgan Enhanced Index Service Class		3,811,970		(3,374,799	)		437,171			3,741,009		(4,283,653	)		(542,644	)
TA JPMorgan Mid Cap Value Service Class		13,507,757		(10,763,245	)		2,744,512			12,008,812		(14,288,798	)		(2,279,986	)
TA JPMorgan Tactical Allocation Service Class		33,415,860		(42,376,743	)		(8,960,883	)		48,290,396		(33,980,066	)		14,310,330
TA Legg Mason Dynamic Allocation - Balanced Service Class		27,463,153		(41,259,723	)		(13,796,570	)		81,884,699		(27,517,681	)		54,367,018
TA Legg Mason Dynamic Allocation - Growth Service Class		17,413,891		(34,950,045	)		(17,536,154	)		64,960,448		(15,138,136	)		49,822,312
TA Madison Balanced Allocation Service Class		1,707,056		(3,336,316	)		(1,629,260	)		1,934,921		(3,160,832	)		(1,225,911	)

47

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
TA Madison Conservative Allocation Service Class		733,244		(4,546,770	)		(3,813,526	)		1,895,479		(4,542,885	)		(2,647,406	)
TA Madison Diversified Income Service Class		2,446,006		(4,650,935	)		(2,204,929	)		2,198,068		(4,568,649	)		(2,370,581	)
TA Managed Risk - Balanced ETF Service Class		70,078,652		(179,753,782	)		(109,675,130	)		165,638,917		(172,416,949	)		(6,778,032	)
TA Managed Risk - Conservative ETF Service Class		31,195,491		(51,716,980	)		(20,521,489	)		41,392,316		(60,246,538	)		(18,854,222	)
TA Managed Risk - Growth ETF Service Class		37,846,184		(210,585,217	)		(172,739,033	)		87,101,410		(232,402,552	)		(145,301,142	)
TA Market Participation Strategy Service Class		9,303,963		(15,003,497	)		(5,699,534	)		21,959,357		(15,044,527	)		6,914,830
TA MFS International Equity Initial Class		4,529,027		(8,434,870	)		(3,905,843	)		8,404,497		(13,801,042	)		(5,396,545	)
TA MFS International Equity Service Class		4,704,689		(7,974,528	)		(3,269,839	)		9,682,318		(6,764,133	)		2,918,185
TA Morgan Stanley Capital Growth Initial Class		3,486,371		(7,070,316	)		(3,583,945	)		3,730,426		(15,683,446	)		(11,953,020	)
TA Morgan Stanley Capital Growth Service Class		3,011,586		(5,230,043	)		(2,218,457	)		7,366,786		(4,368,728	)		2,998,058
TA Multi-Managed Balanced Initial Class		5,998,439		(4,667,176	)		1,331,263			8,087,764		(8,835,296	)		(747,532	)
TA Multi-Managed Balanced Service Class		96,343,104		(19,787,266	)		76,555,838			35,095,546		(26,917,281	)		8,178,265
TA Multi-Manager Alternative Strategies Service Class		24,930		(42,740	)		(17,810	)		95,383		(13,192	)		82,191
TA PIMCO Tactical - Balanced Service Class		20,422,364		(22,592,129	)		(2,169,765	)		22,563,435		(23,251,724	)		(688,289	)
TA PIMCO Tactical - Conservative Service Class		15,470,938		(11,805,874	)		3,665,064			24,612,310		(13,240,593	)		11,371,717
TA PIMCO Tactical - Growth Service Class		14,216,644		(16,190,983	)		(1,974,339	)		34,188,794		(12,190,050	)		21,998,744
TA PIMCO Total Return Initial Class		16,071,319		(25,031,254	)		(8,959,935	)		19,350,446		(52,527,210	)		(33,176,764	)
TA PIMCO Total Return Service Class		29,868,111		(72,805,371	)		(42,937,260	)		30,023,649		(85,619,885	)		(55,596,236	)
TA PineBridge Inflation Opportunities Service Class		11,765,833		(20,093,418	)		(8,327,585	)		7,363,268		(18,268,700	)		(10,905,432	)
TA ProFunds UltraBear Service Class (OAM)		686,441,209		(535,616,523	)		150,824,686			339,489,718		(137,519,758	)		201,969,960
TA QS Investors Active Asset Allocation - Conservative Service Class		10,145,092		(33,723,903	)		(23,578,811	)		19,305,354		(39,319,996	)		(20,014,642	)
TA QS Investors Active Asset Allocation - Moderate Service Class		10,330,505		(63,026,944	)		(52,696,439	)		28,389,273		(64,786,251	)		(36,396,978	)
TA QS Investors Active Asset Allocation - Moderate Growth Service Class		7,740,285		(50,946,692	)		(43,206,407	)		29,591,498		(60,569,570	)		(30,978,072	)
TA Small/Mid Cap Value Initial Class		522,126		(4,143,308	)		(3,621,182	)		203,353		(6,763,971	)		(6,560,618	)
TA Small/Mid Cap Value Service Class		7,977,974		(8,084,028	)		(106,054	)		3,909,098		(7,639,444	)		(3,730,346	)

48

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
TA T. Rowe Price Small Cap Initial Class		5,548,522		(8,335,225	)		(2,786,703	)		6,339,554		(15,544,885	)		(9,205,331	)
TA T. Rowe Price Small Cap Service Class		6,357,624		(8,494,242	)		(2,136,618	)		8,716,699		(7,906,280	)		810,419
TA Torray Concentrated Growth Initial Class		1,616,487		(6,791,243	)		(5,174,756	)		1,425,182		(13,902,997	)		(12,477,815	)
TA Torray Concentrated Growth Service Class		1,403,687		(3,156,100	)		(1,752,413	)		1,350,897		(4,156,367	)		(2,805,470	)
TA TS&W International Equity Initial Class		4,441,998		(7,067,853	)		(2,625,855	)		4,983,675		(11,391,476	)		(6,407,801	)
TA TS&W International Equity Service Class		2,249,231		(5,495,812	)		(3,246,581	)		5,116,331		(4,231,392	)		884,939
TA WMC US Growth Initial Class		8,822,726		(24,557,097	)		(15,734,371	)		5,578,590		(43,579,369	)		(38,000,779	)
TA WMC US Growth Service Class		3,710,129		(6,247,767	)		(2,537,638	)		7,929,698		(7,008,341	)		921,357
Vanguard® Equity Index		159,092		(209,979	)		(50,887	)		119,463		(133,545	)		(14,082	)
Vanguard® International		54,824		(39,634	)		15,190			315,650		(279,769	)		35,881
Vanguard® Mid-Cap Index		29,372		(102,492	)		(73,120	)		126,217		(59,319	)		66,898
Vanguard® REIT Index		23,905		(37,266	)		(13,361	)		12,682		(37,150	)		(24,468	)
Vanguard® Short-Term Investment Grade		107,340		(243,629	)		(136,289	)		354,890		(139,716	)		215,174
Vanguard® Total Bond Market Index		16,267		(114,873	)		(98,606	)		109,371		(146,453	)		(37,082	)
Voya Global Perspectives Class S Shares		55		(23	)		32			1,633		—			1,633
Voya Large Cap Value Class S Shares		97		—			97			—		—			—
Voya Strategic Allocation Conservative Class S Shares		—		—			—			—		—			—
Voya Strategic Allocation Moderate Class S Shares		—		—			—			—		—			—
Wanger International		24,261		(42,512	)		(18,251	)		19,662		(5,083	)		14,579
Wanger USA		918		(66,956	)		(66,038	)		101,080		(56,603	)		44,477

49

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
AB Balanced Wealth Strategy Class B Shares	$	11,799,095	$	(15,714,012	)	$	(3,914,917	)	$	19,605,958	$	(15,483,192	)	$	4,122,766
AB Growth and Income Class B Shares		45,454,355		(37,807,978	)		7,646,377			49,941,550		(45,341,682	)		4,599,868
AB Large Cap Growth Class B Shares		916,454		(3,458,770	)		(2,542,316	)		545,577		(8,473,180	)		(7,927,603	)
American Funds - Asset Allocation Class 2 Shares		146,972,375		(65,369,472	)		81,602,903			124,380,921		(78,576,824	)		45,804,097
American Funds - Bond Class 2 Shares		65,269,511		(32,378,552	)		32,890,959			58,518,428		(30,072,016	)		28,446,412
American Funds - Growth Class 2 Shares		75,975,624		(36,136,560	)		39,839,064			86,978,559		(28,064,044	)		58,914,515
American Funds - Growth-Income Class 2 Shares		78,385,499		(30,443,784	)		47,941,715			90,182,553		(32,011,803	)		58,170,750
American Funds - International Class 2 Shares		40,700,972		(28,476,097	)		12,224,875			49,168,371		(19,371,162	)		29,797,209
BlackRock Basic Value V.I. Class I Shares		580,348		(2,566,375	)		(1,986,027	)		1,096,068		(7,258,644	)		(6,162,576	)
BlackRock Global Allocation V.I. Class I Shares		373,087		(1,836,075	)		(1,462,988	)		530,254		(5,244,293	)		(4,714,039	)
BlackRock High Yield V.I. Class I Shares		115,750		(991,567	)		(875,817	)		530,478		(2,220,466	)		(1,689,988	)
Catalyst Dividend Capture VA		38,967		(285,328	)		(246,361	)		156,660		(768,373	)		(611,713	)
Catalyst Insider Buying VA		79,661		(320,183	)		(240,522	)		83,923		(1,182,004	)		(1,098,081	)
Fidelity® VIP Balanced Service Class 2		68,631,757		(47,677,413	)		20,954,344			94,813,150		(41,647,072	)		53,166,078
Fidelity® VIP Contrafund® Initial Class		53,743		(363,078	)		(309,335	)		265,899		(338,896	)		(72,997	)
Fidelity® VIP Contrafund® Service Class 2		73,039,231		(73,098,881	)		(59,650	)		100,082,541		(111,094,487	)		(11,011,946	)
Fidelity® VIP Equity-Income Initial Class		16,848		(34,721	)		(17,873	)		—		(15,968	)		(15,968	)
Fidelity® VIP Equity-Income Service Class 2		539,694		(6,256,068	)		(5,716,374	)		355,262		(13,385,189	)		(13,029,927	)
Fidelity® VIP Growth Initial Class		12,359		(32,093	)		(19,734	)		—		(366	)		(366	)
Fidelity® VIP Growth Service Class 2		1,216,160		(7,003,096	)		(5,786,936	)		112,598		(10,180,299	)		(10,067,701	)
Fidelity® VIP Growth Opportunities Service Class 2		176,363		(324,365	)		(148,002	)		46,129		(484,322	)		(438,193	)
Fidelity® VIP Mid Cap Initial Class		3,633		(8,168	)		(4,535	)		25,958		(32,824	)		(6,866	)
Fidelity® VIP Mid Cap Service Class 2		35,863,728		(46,414,278	)		(10,550,550	)		46,196,218		(85,481,167	)		(39,284,949	)
Fidelity® VIP Value Strategies Initial Class		139,023		(61,180	)		77,843			9,654		(20,984	)		(11,330	)
Fidelity® VIP Value Strategies Service Class 2		19,606,698		(24,554,974	)		(4,948,276	)		24,731,476		(38,424,793	)		(13,693,317	)
Franklin Founding Funds Allocation Class 4 Shares		858,522		(15,818,199	)		(14,959,677	)		685,287		(24,529,729	)		(23,844,442	)
Franklin Income Class 2 Shares		1,269,839		(17,257,972	)		(15,988,133	)		1,180,666		(28,901,735	)		(27,721,069	)

50

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
Franklin Mutual Shares Class 2 Shares	$	219,238	$	(2,546,233	)	$	(2,326,995	)	$	270,448	$	(7,413,831	)	$	(7,143,383	)
Franklin Templeton Foreign Class 2 Shares		503,266		(5,259,884	)		(4,756,618	)		320,381		(11,070,828	)		(10,750,447	)
Invesco V.I. American Franchise Series II Shares		60,086		(948,186	)		(888,100	)		132,116		(2,509,509	)		(2,377,393	)
Invesco V.I. Value Opportunities Series II Shares		159,102		(2,988,206	)		(2,829,104	)		410,570		(7,126,522	)		(6,715,952	)
Janus Aspen - Enterprise Service Shares		473,566		(2,420,919	)		(1,947,353	)		429,501		(5,446,234	)		(5,016,733	)
Janus Aspen - Global Research Service Shares		403,895		(4,475,998	)		(4,072,103	)		418,985		(11,059,859	)		(10,640,874	)
Janus Aspen - Perkins Mid Cap Value Service Shares		30,526		(230,573	)		(200,047	)		59,580		(853,668	)		(794,088	)
MFS® New Discovery Service Class		1,217,815		(7,566,641	)		(6,348,826	)		690,362		(14,296,438	)		(13,606,076	)
MFS® Total Return Service Class		242,335		(7,275,654	)		(7,033,319	)		263,981		(17,167,751	)		(16,903,770	)
NVIT Emerging Markets Class D Shares		20,512		(1,018	)		19,494			—		—			—
State Street Total Return V.I.S. Class 3 Shares		6,298,949		(9,554,300	)		(3,255,351	)		8,022,270		(10,200,305	)		(2,178,035	)
TA AB Dynamic Allocation Initial Class		1,943,780		(4,071,280	)		(2,127,500	)		5,254,139		(10,574,503	)		(5,320,364	)
TA AB Dynamic Allocation Service Class		32,344,874		(40,769,929	)		(8,425,055	)		57,423,367		(43,848,495	)		13,574,872
TA Aegon Government Money Market Initial Class		61,962,295		(68,915,366	)		(6,953,071	)		102,752,128		(98,063,592	)		4,688,536
TA Aegon Government Money Market Service Class		352,217,056		(346,626,708	)		5,590,348			463,894,406		(420,487,760	)		43,406,646
TA Aegon High Yield Bond Initial Class		13,583,955		(18,261,572	)		(4,677,617	)		16,306,947		(35,026,893	)		(18,719,946	)
TA Aegon High Yield Bond Service Class		75,925,907		(76,292,580	)		(366,673	)		74,921,382		(61,099,819	)		13,821,563
TA Aegon U.S. Government Securities Initial Class		18,913,159		(15,493,846	)		3,419,313			12,987,312		(28,774,003	)		(15,786,691	)
TA Aegon U.S. Government Securities Service Class		284,020,839		(245,598,511	)		38,422,328			287,041,090		(143,236,861	)		143,804,229
TA American Funds Managed Risk - Balanced Service Class		239,322,229		(9,372,664	)		229,949,565			123,002,523		(1,645,235	)		121,357,288
TA Asset Allocation - Conservative Initial Class		30,750,848		(49,383,047	)		(18,632,199	)		25,508,420		(68,816,999	)		(43,308,579	)
TA Asset Allocation - Conservative Service Class		112,211,098		(159,508,140	)		(47,297,042	)		166,974,107		(182,365,531	)		(15,391,424	)
TA Asset Allocation - Growth Initial Class		11,114,899		(40,685,782	)		(29,570,883	)		13,398,156		(94,719,680	)		(81,321,524	)
TA Asset Allocation - Growth Service Class		25,299,082		(44,393,033	)		(19,093,951	)		39,501,742		(38,341,458	)		1,160,284
TA Asset Allocation - Moderate Initial Class		24,091,043		(55,205,650	)		(31,114,607	)		14,853,309		(140,266,316	)		(125,413,007	)
TA Asset Allocation - Moderate Service Class		123,033,381		(456,390,503	)		(333,357,122	)		368,583,257		(450,804,558	)		(82,221,301	)
TA Asset Allocation - Moderate Growth Initial Class		25,811,572		(71,142,404	)		(45,330,832	)		18,504,214		(160,997,891	)		(142,493,677	)

51

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
TA Asset Allocation - Moderate Growth Service Class	$	210,725,982	$	(381,149,937	)	$	(170,423,955	)	$	375,661,496	$	(424,163,019	)	$	(48,501,523	)
TA Barrow Hanley Dividend Focused Initial Class		13,456,258		(42,475,493	)		(29,019,235	)		7,271,310		(99,243,764	)		(91,972,454	)
TA Barrow Hanley Dividend Focused Service Class		28,239,471		(23,234,425	)		5,005,046			28,042,100		(28,312,034	)		(269,934	)
TA BlackRock Equity Smart Beta 100 Service Class		24,665,460		(1,563,133	)		23,102,327			—		—			—
TA BlackRock Global Allocation Service Class		199,822,270		(147,952,759	)		51,869,511			150,074,959		(168,876,868	)		(18,801,909	)
TA BlackRock Global Allocation Managed Risk - Balanced Service Class		59,155,665		(24,317,213	)		34,838,452			136,214,051		(10,437,751	)		125,776,300
TA BlackRock Global Allocation Managed Risk - Growth Service Class		45,467,475		(25,620,528	)		19,846,947			156,260,385		(5,876,988	)		150,383,397
TA BlackRock Smart Beta 50 Service Class		44,618,681		(2,357,925	)		42,260,756			—		—			—
TA BlackRock Smart Beta 75 Service Class		12,177,322		(712,728	)		11,464,594			—		—			—
TA BlackRock Tactical Allocation Service Class		139,679,982		(146,272,966	)		(6,592,984	)		192,226,037		(162,060,632	)		30,165,405
TA Clarion Global Real Estate Securities Initial Class		4,770,168		(9,804,379	)		(5,034,211	)		7,195,217		(17,726,284	)		(10,531,067	)
TA Clarion Global Real Estate Securities Service Class		15,554,106		(19,592,006	)		(4,037,900	)		22,032,698		(22,725,233	)		(692,535	)
TA International Moderate Growth Initial Class		2,115		(734	)		1,381			712		(694	)		18
TA International Moderate Growth Service Class		46,164,977		(87,691,198	)		(41,526,221	)		126,666,088		(68,431,395	)		58,234,693
TA Janus Balanced Service Class		177,183,176		(70,823,955	)		106,359,221			254,589,601		(35,882,352	)		218,707,249
TA Janus Mid-Cap Growth Initial Class		5,272,371		(11,531,023	)		(6,258,652	)		5,361,977		(30,721,908	)		(25,359,931	)
TA Janus Mid-Cap Growth Service Class		13,863,427		(16,014,159	)		(2,150,732	)		17,842,097		(13,888,480	)		3,953,617
TA Jennison Growth Initial Class		7,698,925		(27,888,568	)		(20,189,643	)		11,680,403		(57,885,955	)		(46,205,552	)
TA Jennison Growth Service Class		23,200,977		(28,169,979	)		(4,969,002	)		38,232,929		(15,418,804	)		22,814,125
TA JPMorgan Core Bond Service Class		87,412,186		(36,057,485	)		51,354,701			74,177,200		(37,860,757	)		36,316,443
TA JPMorgan Enhanced Index Initial Class		10,385,101		(14,493,210	)		(4,108,109	)		15,564,612		(30,149,443	)		(14,584,831	)
TA JPMorgan Enhanced Index Service Class		17,101,303		(8,794,189	)		8,307,114			16,404,629		(11,988,475	)		4,416,154
TA JPMorgan Mid Cap Value Service Class		57,022,033		(35,715,661	)		21,306,372			53,450,485		(40,266,396	)		13,184,089
TA JPMorgan Tactical Allocation Service Class		210,438,567		(85,966,116	)		124,472,451			345,799,124		(54,429,866	)		291,369,258
TA Legg Mason Dynamic Allocation - Balanced Service Class		174,350,460		(102,326,291	)		72,024,169			476,970,988		(52,171,384	)		424,799,604
TA Legg Mason Dynamic Allocation - Growth Service Class		91,439,069		(93,858,145	)		(2,419,076	)		295,199,364		(40,281,874	)		254,917,490

52

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
TA Madison Balanced Allocation Service Class	$	10,074,472	$	(7,637,764	)	$	2,436,708		$	10,848,018	$	(4,984,028	)	$	5,863,990
TA Madison Conservative Allocation Service Class		5,464,541		(8,560,746	)		(3,096,205	)		10,647,199		(9,685,203	)		961,996
TA Madison Diversified Income Service Class		9,468,357		(9,226,249	)		242,108			12,797,854		(7,326,662	)		5,471,192
TA Managed Risk - Balanced ETF Service Class		412,893,951		(371,162,608	)		41,731,343			1,432,244,387		(286,222,333	)		1,146,022,054
TA Managed Risk - Conservative ETF Service Class		126,094,830		(103,721,852	)		22,372,978			176,559,511		(101,853,850	)		74,705,661
TA Managed Risk - Growth ETF Service Class		183,488,838		(400,503,829	)		(217,014,991	)		510,051,434		(394,525,091	)		115,526,343
TA Market Participation Strategy Service Class		33,875,388		(45,897,311	)		(12,021,923	)		92,881,130		(37,132,409	)		55,748,721
TA MFS International Equity Initial Class		6,490,882		(11,171,817	)		(4,680,935	)		12,548,963		(20,582,593	)		(8,033,630	)
TA MFS International Equity Service Class		18,223,889		(15,111,152	)		3,112,737			35,408,556		(12,876,527	)		22,532,029
TA Morgan Stanley Capital Growth Initial Class		7,456,615		(14,813,587	)		(7,356,972	)		8,296,460		(33,510,025	)		(25,213,565	)
TA Morgan Stanley Capital Growth Service Class		17,294,161		(15,320,277	)		1,973,884			26,952,411		(12,019,182	)		14,933,229
TA Multi-Managed Balanced Initial Class		12,785,644		(9,900,610	)		2,885,034			17,383,761		(18,540,861	)		(1,157,100	)
TA Multi-Managed Balanced Service Class		567,124,285		(45,268,051	)		521,856,234			134,043,594		(52,729,775	)		81,313,819
TA Multi-Manager Alternative Strategies Service Class		242,550		(418,436	)		(175,886	)		981,560		(133,101	)		848,459
TA PIMCO Tactical - Balanced Service Class		64,517,391		(48,576,481	)		15,940,910			105,336,879		(43,193,378	)		62,143,501
TA PIMCO Tactical - Conservative Service Class		66,357,295		(24,261,279	)		42,096,016			120,176,789		(21,164,029	)		99,012,760
TA PIMCO Tactical - Growth Service Class		70,321,227		(35,494,192	)		34,827,035			152,748,106		(21,943,100	)		130,805,006
TA PIMCO Total Return Initial Class		25,341,461		(39,256,364	)		(13,914,903	)		30,262,269		(82,033,931	)		(51,771,662	)
TA PIMCO Total Return Service Class		108,085,761		(123,880,043	)		(15,794,282	)		114,663,894		(133,552,210	)		(18,888,316	)
TA PineBridge Inflation Opportunities Service Class		44,051,179		(50,651,923	)		(6,600,744	)		32,381,221		(28,536,010	)		3,845,211
TA ProFunds UltraBear Service Class (OAM)		58,145,177		(40,010,998	)		18,134,179			31,161,320		(11,591,120	)		19,570,200
TA QS Investors Active Asset Allocation - Conservative Service Class		43,554,540		(57,194,103	)		(13,639,563	)		101,083,668		(64,813,220	)		36,270,448
TA QS Investors Active Asset Allocation - Moderate Service Class		38,093,100		(139,643,708	)		(101,550,608	)		168,202,683		(126,315,140	)		41,887,543
TA QS Investors Active Asset Allocation - Moderate Growth Service Class		38,457,289		(97,257,344	)		(58,800,055	)		154,099,842		(102,673,057	)		51,426,785
TA Small/Mid Cap Value Initial Class		2,380,933		(17,828,894	)		(15,447,961	)		926,676		(28,800,981	)		(27,874,305	)

53

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
TA Small/Mid Cap Value Service Class	$	25,805,765	$	(18,772,598	)	$	7,033,167		$	18,619,175	$	(17,156,949	)	$	1,462,226
TA T. Rowe Price Small Cap Initial Class		12,421,822		(18,025,678	)		(5,603,856	)		14,837,053		(35,045,275	)		(20,208,222	)
TA T. Rowe Price Small Cap Service Class		39,755,899		(30,486,576	)		9,269,323			52,103,983		(26,980,857	)		25,123,126
TA Torray Concentrated Growth Initial Class		4,145,727		(20,676,658	)		(16,530,931	)		4,671,432		(41,320,487	)		(36,649,055	)
TA Torray Concentrated Growth Service Class		5,967,912		(7,793,461	)		(1,825,549	)		7,075,189		(9,157,001	)		(2,081,812	)
TA TS&W International Equity Initial Class		6,916,000		(11,128,086	)		(4,212,086	)		8,998,255		(20,306,583	)		(11,308,328	)
TA TS&W International Equity Service Class		9,555,073		(11,349,653	)		(1,794,580	)		15,374,497		(7,802,620	)		7,571,877
TA WMC US Growth Initial Class		14,451,763		(38,298,431	)		(23,846,668	)		9,071,647		(68,370,340	)		(59,298,693	)
TA WMC US Growth Service Class		18,622,658		(18,021,387	)		601,271			31,947,154		(15,950,196	)		15,996,958
Vanguard® Equity Index		324,385		(472,685	)		(148,300	)		1,182,922		(277,698	)		905,224
Vanguard® International		147,782		(115,724	)		32,058			1,143,115		(355,115	)		788,000
Vanguard® Mid-Cap Index		69,512		(198,718	)		(129,206	)		619,165		(135,276	)		483,889
Vanguard® REIT Index		45,917		(64,909	)		(18,992	)		93,721		(63,912	)		29,809
Vanguard® Short-Term Investment Grade		217,258		(459,779	)		(242,521	)		1,653,362		(222,113	)		1,431,249
Vanguard® Total Bond Market Index		111,343		(285,834	)		(174,491	)		1,004,123		(198,190	)		805,933
Voya Global Perspectives Class S Shares		515		(219	)		296			15,178		1			15,179
Voya Large Cap Value Class S Shares		862		1			863			—		—			—
Voya Strategic Allocation Conservative Class S Shares		—		—			—			—		—			—
Voya Strategic Allocation Moderate Class S Shares		—		—			—			—		—			—
Wanger International		50,848		(54,286	)		(3,438	)		92,864		(6,551	)		86,313
Wanger USA		1,329		(116,170	)		(114,841	)		218,105		(132,764	)		85,341

54

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights

The Separate Account offers various death benefit options, which have differing fees that are charged against the contract owner’s account balance. These charges are discussed in more detail in the individual’s policy. Differences in the fee structures for these units result in different unit values, expense ratios, and total returns.

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
AB Balanced Wealth Strategy Class B Shares
12/31/2016		44,034,478	$	12.01	to	$	1.63	$	94,083,857		1.82	%		0.65	%	to	2.65	%		3.77	%	to	1.75	%
12/31/2015		47,328,479		11.58	to		1.60		95,500,596		2.02			0.65		to	2.65			0.64		to	(1.32	)
12/31/2014		47,372,152		11.51	to		1.62		91,875,603		2.43			0.65		to	2.65			6.42		to	4.34
12/31/2013		50,928,333		1.19	to		1.56		87,360,846		2.31			0.65		to	2.65			15.52		to	13.27
12/31/2012		47,661,048		1.03	to		1.37		67,988,859		1.93			0.65		to	2.65			12.64		to	10.43
AB Growth and Income Class B Shares
12/31/2016		86,181,039		2.02	to		1.37		220,284,665		0.84			0.30		to	2.30			10.74		to	8.58
12/31/2015		86,893,047		1.82	to		1.26		194,307,335		1.19			0.30		to	2.30			1.12		to	(0.85	)
12/31/2014		94,663,141		1.80	to		1.27		190,026,748		1.14			0.30		to	2.30			8.96		to	6.83
12/31/2013		96,773,079		1.65	to		1.19		156,306,109		1.06			0.30		to	2.30			34.19		to	31.57
12/31/2012		77,780,377		1.23	to		0.91		89,263,201		1.32			0.30		to	2.30			16.89		to	14.59
AB Large Cap Growth Class B Shares
12/31/2016		17,594,877		2.12	to		1.57		28,324,370		—			0.30		to	2.30			2.05		to	0.06
12/31/2015		19,226,523		2.08	to		1.57		30,693,993		—			0.30		to	2.30			10.52		to	8.36
12/31/2014		24,431,104		1.88	to		1.45		35,592,264		—			0.30		to	2.30			13.50		to	11.28
12/31/2013		27,375,375		1.66	to		1.30		35,597,034		—			0.30		to	2.30			36.59		to	33.92
12/31/2012		30,870,141		1.21	to		0.97		29,684,480		0.03			0.30		to	2.30			16.35		to	14.06
American Funds - Asset Allocation Class 2 Shares
12/31/2016		250,143,519		12.88	to		1.60		634,039,608		1.74			0.75		to	2.75			8.60		to	6.49
12/31/2015		229,793,901		11.86	to		1.50		511,723,809		1.70			0.75		to	2.75			0.64		to	(1.31	)
12/31/2014		238,074,048		11.78	to		1.52		468,882,755		1.58			0.75		to	2.75			4.61		to	2.57
12/31/2013		233,042,233		1.33	to		1.48		379,469,267		1.66			0.75		to	2.75			22.77		to	20.38
12/31/2012		169,210,476		1.08	to		1.23		214,081,441		2.12			0.75		to	2.75			15.32		to	13.07
American Funds - Bond Class 2 Shares
12/31/2016		86,249,797		10.24	to		1.04		202,687,185		1.75			0.75		to	2.75			2.18		to	0.20
12/31/2015		83,923,617		10.03	to		1.04		168,449,072		1.79			0.75		to	2.75			(0.47	)	to	(2.41	)
12/31/2014		83,916,301		10.07	to		1.06		142,447,050		2.18			0.75		to	2.75			4.50		to	2.46
12/31/2013		85,631,756		1.05	to		1.04		103,432,773		1.87			0.75		to	2.75			(2.89	)	to	(4.78	)
12/31/2012		84,904,847		1.08	to		1.09		95,250,272		3.06			0.75		to	2.75			4.59		to	2.54
American Funds - Growth Class 2 Shares
12/31/2016		68,512,929		14.77	to		1.85		301,070,692		0.84			0.75		to	2.60			8.67		to	6.72
12/31/2015		69,343,957		13.59	to		1.74		241,712,021		0.67			0.75		to	2.60			6.06		to	4.15
12/31/2014		65,675,816		12.81	to		1.67		174,197,876		0.95			0.75		to	2.60			7.70		to	5.76
12/31/2013		61,017,259		1.32	to		1.58		116,392,175		1.03			0.75		to	2.60			29.13		to	26.81
12/31/2012		50,472,876		1.02	to		1.24		64,264,152		0.90			0.75		to	2.60			17.01		to	14.89
American Funds - Growth-Income Class 2 Shares
12/31/2016		60,127,114		14.69	to		1.81		308,892,051		1.61			0.75		to	2.60			10.69		to	8.70
12/31/2015		56,995,196		13.27	to		1.66		236,097,115		1.44			0.75		to	2.60			0.70		to	(1.12	)
12/31/2014		55,861,390		13.18	to		1.68		180,173,950		1.59			0.75		to	2.60			9.81		to	7.83
12/31/2013		47,215,255		1.41	to		1.56		93,879,498		1.63			0.75		to	2.60			32.51		to	30.12
12/31/2012		36,300,214		1.06	to		1.20		44,580,566		1.93			0.75		to	2.60			16.60		to	14.49
American Funds - International Class 2 Shares
12/31/2016		49,934,063		10.66	to		1.04		129,648,359		1.48			0.75		to	2.60			2.76		to	0.92
12/31/2015		54,330,699		10.37	to		1.03		114,935,590		1.62			0.75		to	2.60			(5.24	)	to	(6.95	)
12/31/2014		52,391,548		10.94	to		1.11		94,057,736		1.62			0.75		to	2.60			(3.38	)	to	(5.12	)
12/31/2013		50,035,861		1.10	to		1.17		69,810,558		1.55			0.75		to	2.60			20.73		to	18.55
12/31/2012		40,673,990		0.91	to		0.99		41,084,363		1.66			0.75		to	2.60			17.02		to	14.90

55

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
BlackRock Basic Value V.I. Class I Shares
12/31/2016		8,011,814	$	2.21	to	$	2.40	$	22,069,925		1.52	%		1.25	%	to	2.30	%		16.73	%	to	15.54	%
12/31/2015		8,817,241		1.89	to		2.07		20,857,527		1.42			1.25		to	2.30			(7.11	)	to	(8.07	)
12/31/2014		11,168,612		2.04	to		2.26		28,532,280		1.38			1.25		to	2.30			8.57		to	7.46
12/31/2013		12,781,068		1.88	to		2.10		30,389,242		1.44			1.25		to	2.30			36.37		to	34.97
12/31/2012		14,266,398		1.38	to		1.56		25,008,298		1.71			1.25		to	2.30			12.63		to	11.47
BlackRock Global Allocation V.I. Class I Shares
12/31/2016		7,054,931		2.66	to		2.61		13,393,563		1.25			1.25		to	2.30			2.83		to	1.78
12/31/2015		7,842,563		2.58	to		2.57		14,520,562		1.04			1.25		to	2.30			(1.94	)	to	(2.94	)
12/31/2014		10,125,330		2.63	to		2.64		19,447,094		2.05			1.25		to	2.30			0.85		to	(0.19	)
12/31/2013		11,656,814		2.61	to		2.65		22,385,439		1.15			1.25		to	2.30			13.34		to	12.18
12/31/2012		12,057,417		2.30	to		2.36		20,528,710		1.45			1.25		to	2.30			8.91		to	7.79
BlackRock High Yield V.I. Class I Shares
12/31/2016		2,044,390		2.44	to		1.99		4,838,768		5.46			1.25		to	2.30			11.52		to	10.38
12/31/2015		2,441,830		2.19	to		1.80		5,188,905		5.10			1.25		to	2.30			(4.77	)	to	(5.74	)
12/31/2014		3,187,284		2.30	to		1.91		7,122,273		5.37			1.25		to	2.30			1.62		to	0.58
12/31/2013		3,709,697		2.26	to		1.90		8,168,931		5.90			1.25		to	2.30			7.99		to	6.88
12/31/2012		4,567,350		2.10	to		1.78		9,321,250		6.57			1.25		to	2.30			14.23		to	13.05
Catalyst Dividend Capture VA
12/31/2016		1,558,996		1.43	to		1.30		2,218,052		4.61			1.30		to	2.30			5.60		to	4.57
12/31/2015		1,735,947		1.35	to		1.25		2,340,269		4.11			1.30		to	2.30			(4.30	)	to	(5.24	)
12/31/2014		2,178,735		1.41	to		1.32		3,069,679		4.32			1.30		to	2.30			8.75		to	7.68
12/31/2013		3,214,274		1.30	to		1.22		4,166,880		3.17			1.30		to	2.30			18.42		to	17.27
12/31/2012		2,751,811		1.10	to		1.04		3,013,918		4.83			1.30		to	2.30			10.03		to	8.95
Catalyst Insider Buying VA
12/31/2016		1,753,688		1.47	to		1.34		2,561,942		0.64			1.30		to	2.30			9.58		to	8.52
12/31/2015		1,940,602		1.34	to		1.24		2,588,982		0.51			1.30		to	2.30			(8.36	)	to	(9.25	)
12/31/2014		2,714,936		1.46	to		1.36		3,951,760		0.42			1.30		to	2.30			(3.32	)	to	(4.27	)
12/31/2013		3,253,720		1.51	to		1.42		4,902,232		0.34			1.30		to	2.30			30.23		to	28.96
12/31/2012		3,178,655		1.16	to		1.10		3,678,626		—			1.30		to	2.30			21.04		to	19.86
Fidelity® VIP Balanced Service Class 2
12/31/2016		161,273,927		1.66	to		1.38		336,960,896		1.26			0.30		to	2.45			6.66		to	4.43
12/31/2015		159,318,959		1.56	to		1.32		299,484,731		1.43			0.30		to	2.45			0.06		to	(2.04	)
12/31/2014		146,071,274		1.56	to		1.35		250,216,054		1.51			0.30		to	2.45			9.69		to	7.39
12/31/2013		129,108,936		1.42	to		1.26		181,860,843		1.44			0.30		to	2.45			18.93		to	16.43
12/31/2012		117,724,325		1.19	to		1.08		132,706,666		1.76			0.30		to	2.45			14.47		to	12.06
Fidelity® VIP Contrafund® Initial Class
12/31/2016		113,495		1.80	to		1.57		431,681		0.73			0.30		to	1.00			7.68		to	6.93
12/31/2015		201,666		1.67	to		1.47		716,924		1.05			0.30		to	1.00			0.37		to	(0.33	)
12/31/2014		215,716		1.67	to		1.47		798,211		0.87			0.30		to	1.00			11.61		to	10.83
12/31/2013		263,301		1.49	to		1.33		875,305		1.72			0.30		to	1.00			30.89		to	29.99
12/31/2012		193,665		1.14	to		1.02		205,876		1.10			0.30		to	1.00			16.07		to	15.26
Fidelity® VIP Contrafund® Service Class 2
12/31/2016		158,259,292		2.16	to		1.41		476,359,703		0.64			0.30		to	2.30			7.41		to	5.31
12/31/2015		172,144,924		2.01	to		1.34		449,859,068		0.80			0.30		to	2.30			0.11		to	(1.84	)
12/31/2014		198,325,170		2.01	to		1.36		465,848,417		0.81			0.30		to	2.30			11.32		to	9.14
12/31/2013		196,958,822		1.81	to		1.25		377,299,296		0.88			0.30		to	2.30			30.56		to	28.01
12/31/2012		193,279,626		1.38	to		0.98		277,085,608		1.13			0.30		to	2.30			15.79		to	13.52
Fidelity® VIP Equity-Income Initial Class
12/31/2016		38,845		1.49	to		1.61		61,069		2.28			0.30		to	1.00			17.67		to	16.85
12/31/2015		52,261		1.27	to		1.38		70,747		3.01			0.30		to	1.00			(4.25	)	to	(4.92	)
12/31/2014		63,434		1.33	to		1.45		89,679		2.89			0.30		to	1.00			8.39		to	7.64
12/31/2013		64,315		1.22	to		1.35		84,226		2.26			0.30		to	1.00			27.76		to	26.88
12/31/2012		85,423		0.96	to		1.06		88,654		1.79			0.30		to	1.00			16.95		to	16.14

56

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
Fidelity® VIP Equity-Income Service Class 2
12/31/2016		27,073,880	$	1.90	to	$	1.25	$	49,230,256		2.09	%		0.30	%	to	2.30	%		17.36	%	to	15.07	%
12/31/2015		30,565,159		1.62	to		1.09		47,923,174		2.74			0.30		to	2.30			(4.52	)	to	(6.39	)
12/31/2014		38,349,894		1.70	to		1.16		63,824,949		2.52			0.30		to	2.30			8.16		to	6.04
12/31/2013		44,412,638		1.57	to		1.09		69,246,230		2.24			0.30		to	2.30			27.45		to	24.95
12/31/2012		50,311,687		1.23	to		0.88		62,328,811		2.69			0.30		to	2.30			16.70		to	14.41
Fidelity® VIP Growth Initial Class
12/31/2016		12,155		1.85	to		1.61		19,555		0.03			0.30		to	1.00			0.50		to	(0.19	)
12/31/2015		25,199		1.84	to		1.61		40,557		0.26			0.30		to	1.00			6.85		to	6.11
12/31/2014		25,431		1.72	to		1.52		38,477		0.19			0.30		to	1.00			10.96		to	10.20
12/31/2013		25,647		1.55	to		1.38		35,124		0.20			0.30		to	1.00			35.93		to	34.99
12/31/2012		53,789		1.14	to		1.02		54,726		0.61			0.30		to	1.00			14.34		to	13.55
Fidelity® VIP Growth Service Class 2
12/31/2016		22,172,573		2.08	to		1.37		34,319,380		—			0.30		to	2.30			0.25		to	(1.71	)
12/31/2015		25,975,749		2.07	to		1.40		40,617,613		0.03			0.30		to	2.30			6.58		to	4.50
12/31/2014		32,507,157		1.94	to		1.34		48,200,149		—			0.30		to	2.30			10.68		to	8.52
12/31/2013		37,005,028		1.76	to		1.23		50,162,145		0.04			0.30		to	2.30			35.59		to	32.94
12/31/2012		43,087,084		1.30	to		0.93		43,606,757		0.32			0.30		to	2.30			14.06		to	11.82
Fidelity® VIP Growth Opportunities  Service Class 2
12/31/2016		1,186,013		1.83	to		1.32		1,992,681		0.05			1.25		to	1.75			(1.17	)	to	(1.65	)
12/31/2015		1,281,973		1.85	to		1.34		2,179,017		0.00			1.25		to	1.75			4.04		to	3.53
12/31/2014		1,532,255		1.78	to		1.30		2,517,712		0.01			1.25		to	1.75			10.57		to	10.02
12/31/2013		1,760,793		1.61	to		1.18		2,628,111		0.05			1.25		to	1.75			35.84		to	35.18
12/31/2012		1,898,669		1.18	to		0.87		2,089,207		0.15			1.25		to	1.75			17.84		to	17.26
Fidelity® VIP Mid Cap Initial Class
12/31/2016		21,135		1.88	to		1.46		52,280		0.50			0.30		to	1.00			11.90		to	11.12
12/31/2015		24,745		1.68	to		1.31		51,157		0.42			0.30		to	1.00			(1.68	)	to	(2.37	)
12/31/2014		31,431		1.71	to		1.34		59,307		0.26			0.30		to	1.00			5.97		to	5.23
12/31/2013		31,222		1.61	to		1.28		48,484		0.53			0.30		to	1.00			35.82		to	34.88
12/31/2012		36,492		1.19	to		0.95		35,291		0.38			0.30		to	1.00			14.49		to	13.69
Fidelity® VIP Mid Cap Service Class 2
12/31/2016		89,788,590		2.32	to		1.48		316,226,522		0.32			0.30		to	2.30			11.59		to	9.41
12/31/2015		98,025,909		2.08	to		1.35		298,255,903		0.24			0.30		to	2.30			(1.92	)	to	(3.84	)
12/31/2014		114,999,325		2.12	to		1.41		345,744,918		0.02			0.30		to	2.30			5.71		to	3.65
12/31/2013		124,383,437		2.01	to		1.36		334,770,485		0.29			0.30		to	2.30			35.46		to	32.82
12/31/2012		123,526,673		1.48	to		1.02		246,581,179		0.38			0.30		to	2.30			14.22		to	11.97
Fidelity® VIP Value Strategies Initial Class
12/31/2016		45,032		1.53	to		1.48		187,030		1.43			0.30		to	1.00			9.30		to	8.54
12/31/2015		47,767		1.40	to		1.37		89,494		1.13			0.30		to	1.00			(3.28	)	to	(3.95	)
12/31/2014		46,549		1.45	to		1.42		104,026		1.15			0.30		to	1.00			6.48		to	5.73
12/31/2013		45,742		1.36	to		1.35		84,623		1.04			0.30		to	1.00			30.10		to	29.20
12/31/2012		43,606		1.05	to		1.04		45,983		0.65			0.30		to	1.00			26.90		to	26.02
Fidelity® VIP Value Strategies Service Class 2
12/31/2016		48,667,743		2.02	to		1.31		128,230,984		0.93			0.30		to	2.30			8.95		to	6.82
12/31/2015		53,699,682		1.85	to		1.23		124,591,778		0.85			0.30		to	2.30			(3.48	)	to	(5.37	)
12/31/2014		63,993,977		1.92	to		1.30		144,232,335		0.84			0.30		to	2.30			6.19		to	4.12
12/31/2013		67,754,937		1.80	to		1.25		134,957,220		0.73			0.30		to	2.30			29.79		to	27.26
12/31/2012		60,326,082		1.39	to		0.98		91,138,385		0.39			0.30		to	2.30			26.68		to	24.19
Franklin Founding Funds Allocation Class 4 Shares
12/31/2016		59,149,514		1.35	to		1.76		112,099,678		3.70			0.60		to	2.60			12.25		to	10.07
12/31/2015		67,682,365		1.20	to		1.60		115,509,798		2.72			0.60		to	2.60			(6.80	)	to	(8.62	)
12/31/2014		80,598,108		1.29	to		1.75		149,122,631		2.72			0.60		to	2.60			2.14		to	0.15
12/31/2013		93,477,182		1.26	to		1.75		171,063,034		10.55			0.60		to	2.60			22.94		to	20.55
12/31/2012		103,151,130		1.03	to		1.45		155,140,789		2.74			0.60		to	2.60			14.48		to	12.24

57

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
Franklin Income Class 2 Shares
12/31/2016		61,395,564	$	1.39	to	$	1.23	$	83,312,836		5.07	%		1.00	%	to	2.30	%		12.90	%	to	11.47	%
12/31/2015		74,138,690		1.23	to		1.10		89,472,772		4.62			1.00		to	2.30			(7.97	)	to	(9.14	)
12/31/2014		95,658,242		1.34	to		1.22		125,848,593		4.99			1.00		to	2.30			3.58		to	2.26
12/31/2013		108,189,372		1.29	to		1.19		138,042,260		6.43			1.00		to	2.30			12.81		to	11.38
12/31/2012		127,426,124		1.15	to		1.07		144,705,853		6.59			1.00		to	2.30			11.53		to	10.11
Franklin Mutual Shares Class 2 Shares
12/31/2016		13,977,761		1.34	to		1.18		18,358,702		1.99			1.00		to	2.30			14.91		to	13.46
12/31/2015		15,954,729		1.16	to		1.04		18,306,795		2.83			1.00		to	2.30			(5.88	)	to	(7.07	)
12/31/2014		21,834,462		1.23	to		1.12		26,638,380		2.00			1.00		to	2.30			6.06		to	4.71
12/31/2013		24,724,453		1.16	to		1.07		28,581,308		2.06			1.00		to	2.30			26.99		to	25.38
12/31/2012		28,932,267		0.92	to		0.85		26,468,882		1.98			1.00		to	2.30			13.11		to	11.66
Franklin Templeton Foreign Class 2 Shares
12/31/2016		33,720,848		1.00	to		0.89		32,654,219		1.95			1.00		to	2.30			6.12		to	4.77
12/31/2015		38,972,850		0.95	to		0.85		35,741,459		3.22			1.00		to	2.30			(7.42	)	to	(8.60	)
12/31/2014		49,701,555		1.02	to		0.93		49,421,163		1.89			1.00		to	2.30			(12.01	)	to	(13.13	)
12/31/2013		57,209,468		1.16	to		1.07		64,992,850		2.37			1.00		to	2.30			21.75		to	20.21
12/31/2012		69,413,713		0.95	to		0.89		65,078,952		3.01			1.00		to	2.30			17.06		to	15.56
Invesco V.I. American Franchise Series II Shares
12/31/2016		4,459,627		1.55	to		1.41		6,543,470		—			0.30		to	2.30			1.71		to	(0.27	)
12/31/2015		5,078,250		1.52	to		1.42		7,414,245		—			0.30		to	2.30			4.44		to	2.39
12/31/2014		6,712,184		1.46	to		1.38		9,493,323		—			0.30		to	2.30			7.85		to	5.74
12/31/2013		8,029,737		1.35	to		1.31		10,656,379		0.25			0.30		to	2.30			39.38		to	36.65
12/31/2012(1)		8,709,208		0.97	to		0.96		8,390,522		—			0.30		to	2.30			—		to	—
Invesco V.I. Value Opportunities Series II Shares
12/31/2016		13,110,788		1.48	to		1.04		18,332,307		0.08			0.30		to	2.30			17.57		to	15.28
12/31/2015		15,432,956		1.26	to		0.90		18,566,395		2.13			0.30		to	2.30			(10.92	)	to	(12.67	)
12/31/2014		20,414,876		1.41	to		1.04		27,970,466		1.15			0.30		to	2.30			6.07		to	3.99
12/31/2013		22,673,790		1.33	to		1.00		29,639,814		1.19			0.30		to	2.30			32.87		to	30.28
12/31/2012		25,663,471		1.00	to		0.76		25,580,729		1.18			0.30		to	2.30			17.30		to	15.00
Janus Aspen - Enterprise Service Shares
12/31/2016		10,584,742		2.82	to		1.78		19,751,582		0.71			0.30		to	2.30			11.77		to	9.59
12/31/2015		11,696,584		2.52	to		1.62		19,764,226		0.74			0.30		to	2.30			3.46		to	1.43
12/31/2014		14,698,057		2.43	to		1.60		24,097,729		0.03			0.30		to	2.30			11.91		to	9.72
12/31/2013		16,708,779		2.18	to		1.46		24,789,340		0.37			0.30		to	2.30			31.64		to	29.07
12/31/2012		19,107,051		1.65	to		1.13		21,633,510		—			0.30		to	2.30			16.64		to	14.34
Janus Aspen - Global Research Service Shares
12/31/2016		23,820,520		1.59	to		1.00		25,804,944		0.94			0.30		to	2.30			1.51		to	(0.47	)
12/31/2015		27,624,966		1.56	to		1.01		29,897,411		0.50			0.30		to	2.30			(2.82	)	to	(4.72	)
12/31/2014		37,018,168		1.61	to		1.06		41,374,871		0.96			0.30		to	2.30			6.86		to	4.77
12/31/2013		41,929,396		1.51	to		1.01		44,449,345		1.08			0.30		to	2.30			27.69		to	25.20
12/31/2012		49,711,489		1.18	to		0.81		41,538,639		0.74			0.30		to	2.30			19.50		to	17.15
Janus Aspen - Perkins Mid Cap Value Service Shares
12/31/2016		1,278,394		2.41	to		2.22		2,972,307		0.90			1.25		to	1.75			17.30		to	16.73
12/31/2015		1,382,062		2.06	to		1.90		2,735,038		1.00			1.25		to	1.75			(4.88	)	to	(5.35	)
12/31/2014		1,766,515		2.16	to		2.01		3,689,741		3.33			1.25		to	1.75			7.10		to	6.57
12/31/2013		1,956,635		2.02	to		1.89		3,820,732		1.10			1.25		to	1.75			24.26		to	23.65
12/31/2012		2,218,259		1.62	to		1.52		3,500,990		0.82			1.25		to	1.75			9.42		to	8.88

58

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
MFS® New Discovery Service  Class
12/31/2016		20,116,052	$	2.28	to	$	1.60	$	41,335,561		—	%		0.30	%	to	2.30	%		8.47	%	to	6.36	%
12/31/2015		23,490,980		2.10	to		1.50		45,033,655		—			0.30		to	2.30			(2.44	)	to	(4.35	)
12/31/2014		30,112,422		2.15	to		1.57		59,862,477		—			0.30		to	2.30			(7.77	)	to	(9.58	)
12/31/2013		36,964,451		2.33	to		1.74		80,534,952		—			0.30		to	2.30			40.80		to	38.05
12/31/2012		43,982,546		1.66	to		1.26		68,911,525		—			0.30		to	2.30			20.54		to	18.17
MFS® Total Return Service Class
12/31/2016		30,104,493		1.76	to		1.29		51,932,163		2.65			0.30		to	2.30			8.49		to	6.38
12/31/2015		34,352,892		1.62	to		1.21		55,241,989		2.24			0.30		to	2.30			(0.88	)	to	(2.82	)
12/31/2014		44,471,420		1.64	to		1.25		73,196,447		1.69			0.30		to	2.30			7.91		to	5.80
12/31/2013		51,491,986		1.52	to		1.18		79,265,752		1.63			0.30		to	2.30			18.38		to	16.07
12/31/2012		57,925,364		1.28	to		1.01		76,287,748		2.47			0.30		to	2.30			10.60		to	8.43
NVIT Emerging Markets Class D Shares
12/31/2016(1)		1,907		9.85	to		9.83		18,774		0.83			0.30		to	0.80			—		to	—
State Street Total Return V.I.S. Class 3 Shares
12/31/2016		34,109,465		11.59	to		1.25		54,132,289		1.59			0.65		to	2.65			5.40		to	3.35
12/31/2015		37,260,511		11.00	to		1.21		55,077,363		1.49			0.65		to	2.65			(1.98	)	to	(3.89	)
12/31/2014		41,034,372		11.22	to		1.26		59,012,874		1.54			0.65		to	2.65			4.40		to	2.36
12/31/2013		40,799,489		1.16	to		1.23		53,548,298		1.36			0.65		to	2.65			13.90		to	11.68
12/31/2012		38,454,844		1.02	to		1.10		43,652,748		1.48			0.65		to	2.65			11.52		to	9.34
TA AB Dynamic Allocation Initial Class
12/31/2016		13,620,346		1.48	to		1.50		21,495,544		1.45			0.30		to	2.05			1.92		to	0.18
12/31/2015		14,928,873		1.45	to		1.49		23,447,568		1.24			0.30		to	2.05			(0.37	)	to	(2.08	)
12/31/2014		18,258,426		1.45	to		1.53		29,143,207		1.00			0.30		to	2.05			5.24		to	3.44
12/31/2013		17,270,135		1.38	to		1.48		26,503,255		1.16			0.30		to	2.05			6.86		to	5.03
12/31/2012		18,419,818		1.29	to		1.41		26,950,888		0.83			0.30		to	2.05			5.82		to	4.00
TA AB Dynamic Allocation Service Class
12/31/2016		181,601,690		1.27	to		1.11		339,898,668		1.25			0.30		to	2.45			1.69		to	(0.44	)
12/31/2015		200,324,935		1.25	to		1.12		346,241,255		1.06			0.30		to	2.45			(0.72	)	to	(2.80	)
12/31/2014		214,985,976		1.26	to		1.15		339,267,725		0.80			0.30		to	2.45			5.04		to	2.84
12/31/2013		232,172,788		1.20	to		1.12		321,999,069		0.99			0.30		to	2.45			6.57		to	4.33
12/31/2012		237,111,221		1.13	to		1.07		289,207,913		0.77			0.30		to	2.45			5.48		to	3.25
TA Aegon Government Money Market Initial Class
12/31/2016		98,022,427		1.10	to		0.88		109,373,936		0.01			0.30		to	2.05			(0.30	)	to	(2.00	)
12/31/2015		104,356,069		1.11	to		0.90		118,060,897		0.01			0.30		to	2.05			(0.30	)	to	(2.00	)
12/31/2014		100,630,309		1.11	to		0.92		115,039,216		0.01			0.30		to	2.05			(0.30	)	to	(2.00	)
12/31/2013		115,626,119		1.11	to		0.94		134,398,735		0.01			0.30		to	2.05			(0.29	)	to	(2.00	)
12/31/2012		124,755,704		1.12	to		0.96		147,358,506		0.01			0.30		to	2.05			(0.30	)	to	(2.01	)
TA Aegon Government Money Market Service Class
12/31/2016		218,009,250		9.84	to		0.82		383,959,184		0.01			0.45		to	2.45			(0.44	)	to	(2.38	)
12/31/2015		239,832,076		9.88	to		0.84		383,764,535		0.01			0.45		to	2.45			(0.44	)	to	(2.39	)
12/31/2014		234,252,333		9.93	to		0.86		345,246,865		0.01			0.45		to	2.45			(0.44	)	to	(2.39	)
12/31/2013		233,587,476		0.99	to		0.88		313,266,679		0.01			0.45		to	2.45			(0.44	)	to	(2.39	)
12/31/2012		280,994,935		0.99	to		0.90		281,054,359		0.01			0.45		to	2.45			(0.44	)	to	(2.40	)
TA Aegon High Yield Bond Initial Class
12/31/2016		40,104,822		2.03	to		2.05		85,399,506		6.01			0.30		to	2.05			15.00		to	13.03
12/31/2015		42,484,816		1.77	to		1.82		79,539,458		5.83			0.30		to	2.05			(4.51	)	to	(6.15	)
12/31/2014		51,869,537		1.85	to		1.94		102,904,592		5.51			0.30		to	2.05			3.67		to	1.89
12/31/2013		59,560,153		1.78	to		1.90		114,989,061		5.61			0.30		to	2.05			6.28		to	4.46
12/31/2012		67,109,725		1.68	to		1.82		123,537,535		6.03			0.30		to	2.05			17.02		to	15.00

59

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA Aegon High Yield Bond Service Class
12/31/2016		44,271,533	$	11.15	to	$	1.49	$	155,587,458		5.98	%		0.90	%	to	2.30	%		13.97	%	to	12.42	%
12/31/2015		46,396,791		9.78	to		1.33		137,023,573		5.96			0.90		to	2.30			(5.16	)	to	(6.45	)
12/31/2014		51,566,530		10.31	to		1.42		132,109,914		5.60			0.90		to	2.30			2.68		to	1.28
12/31/2013		62,948,842		1.62	to		1.40		147,133,548		5.62			1.00		to	2.30			5.28		to	3.94
12/31/2012		57,767,619		1.54	to		1.35		93,495,432		5.81			1.00		to	2.30			15.93		to	14.45
TA Aegon U.S. Government Securities Initial Class
12/31/2016		46,351,895		1.44	to		1.27		73,562,770		0.65			0.30		to	2.05			0.00		to	(1.71	)
12/31/2015		44,340,913		1.44	to		1.29		71,113,835		2.10			0.30		to	2.05			(0.20	)	to	(1.91	)
12/31/2014		53,809,524		1.45	to		1.32		87,871,181		3.98			0.30		to	2.05			4.34		to	2.55
12/31/2013		56,147,152		1.39	to		1.28		88,308,492		2.18			0.30		to	2.05			(2.53	)	to	(4.20	)
12/31/2012		75,180,321		1.42	to		1.34		122,675,859		1.66			0.30		to	2.05			4.83		to	3.02
TA Aegon U.S. Government Securities Service Class
12/31/2016		139,466,169		1.27	to		1.05		384,537,007		0.43			0.30		to	2.45			(0.16	)	to	(2.25	)
12/31/2015		139,372,246		1.27	to		1.08		349,864,588		1.40			0.30		to	2.45			(0.47	)	to	(2.56	)
12/31/2014		117,104,047		1.28	to		1.10		211,171,453		3.42			0.30		to	2.45			4.11		to	1.92
12/31/2013		146,722,112		1.23	to		1.08		221,420,439		1.78			0.30		to	2.45			(2.78	)	to	(4.82	)
12/31/2012		341,204,505		1.26	to		1.14		434,585,330		1.52			0.30		to	2.45			4.55		to	2.34
TA American Funds Managed Risk - Balanced Service Class
12/31/2016		36,223,701		10.16	to		9.83		362,577,579		0.63			0.45		to	2.45			5.94		to	3.87
12/31/2015(1)		12,571,779		9.59	to		9.46		119,855,246		—			0.45		to	2.45			—		to	—
TA Asset Allocation - Conservative Initial Class
12/31/2016		110,451,298		1.56	to		1.51		176,881,894		2.02			0.30		to	2.05			4.31		to	2.53
12/31/2015		121,976,152		1.49	to		1.47		189,750,194		2.14			0.30		to	2.05			(2.25	)	to	(3.93	)
12/31/2014		149,407,114		1.53	to		1.53		239,339,037		2.63			0.30		to	2.05			1.88		to	0.14
12/31/2013		182,063,673		1.50	to		1.53		289,462,189		3.08			0.30		to	2.05			9.04		to	7.17
12/31/2012		220,471,598		1.38	to		1.43		325,902,062		3.06			0.30		to	2.05			7.14		to	5.29
TA Asset Allocation - Conservative Service Class
12/31/2016		491,730,606		10.83	to		1.10		1,021,657,645		1.80			0.45		to	2.45			3.84		to	1.82
12/31/2015		549,794,223		10.43	to		1.08		1,039,218,010		1.98			0.45		to	2.45			(2.58	)	to	(4.49	)
12/31/2014		626,987,083		10.70	to		1.13		1,091,927,020		2.46			0.45		to	2.45			1.49		to	(0.49	)
12/31/2013		715,012,210		1.13	to		1.14		1,111,348,299		2.92			0.45		to	2.45			8.60		to	6.48
12/31/2012		810,487,619		1.04	to		1.07		1,109,383,355		3.02			0.45		to	2.45			6.71		to	4.62
TA Asset Allocation - Growth Initial Class
12/31/2016		145,360,910		1.64	to		1.64		254,491,186		2.18			0.30		to	2.05			5.76		to	3.95
12/31/2015		163,079,906		1.55	to		1.58		273,043,029		1.55			0.30		to	2.05			(2.22	)	to	(3.90	)
12/31/2014		208,960,284		1.58	to		1.64		361,493,975		2.34			0.30		to	2.05			2.42		to	0.67
12/31/2013		226,469,806		1.55	to		1.63		387,054,260		1.22			0.30		to	2.05			26.43		to	24.26
12/31/2012		222,217,868		1.22	to		1.31		304,794,406		1.29			0.30		to	2.05			12.26		to	10.32
TA Asset Allocation - Growth Service Class
12/31/2016		80,740,471		12.15	to		1.06		184,665,448		1.91			0.45		to	2.30			5.35		to	3.45
12/31/2015		96,248,215		11.53	to		1.03		197,157,455		1.43			0.45		to	2.30			(2.55	)	to	(4.32	)
12/31/2014		104,915,264		11.83	to		1.07		203,683,787		2.23			0.45		to	2.30			1.98		to	0.13
12/31/2013		112,093,073		1.32	to		1.07		186,689,604		1.03			0.45		to	2.30			25.82		to	23.55
12/31/2012		111,253,373		0.97	to		0.87		142,775,685		1.11			0.45		to	2.30			12.00		to	10.00
TA Asset Allocation - Moderate Initial Class
12/31/2016		237,955,333		1.64	to		1.60		403,302,456		2.19			0.30		to	2.05			5.25		to	3.45
12/31/2015		257,314,477		1.56	to		1.55		418,714,217		1.92			0.30		to	2.05			(2.52	)	to	(4.19	)
12/31/2014		330,908,687		1.60	to		1.62		558,320,285		2.22			0.30		to	2.05			2.46		to	0.70
12/31/2013		367,006,552		1.56	to		1.61		611,618,677		2.45			0.30		to	2.05			13.16		to	11.22
12/31/2012		406,276,343		1.38	to		1.44		605,408,440		2.62			0.30		to	2.05			9.11		to	7.23

60

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA Asset Allocation - Moderate Service Class
12/31/2016		1,901,152,605	$	11.17	to	$	1.14	$	4,884,558,926		1.96	%		0.45	%	to	2.45	%		4.78	%	to	2.74	%
12/31/2015		2,105,107,064		10.66	to		1.11		5,033,408,915		1.84			0.45		to	2.45			(2.91	)	to	(4.81	)
12/31/2014		2,294,467,597		10.98	to		1.16		5,316,426,982		2.16			0.45		to	2.45			2.15		to	0.16
12/31/2013		2,350,061,942		1.18	to		1.16		4,173,835,738		2.36			0.45		to	2.45			12.73		to	10.53
12/31/2012		2,144,313,750		1.03	to		1.05		3,002,243,579		2.56			0.45		to	2.45			8.62		to	6.49
TA Asset Allocation - Moderate Growth Initial Class
12/31/2016		272,203,035		1.65	to		1.65		477,491,105		2.03			0.30		to	2.05			6.23		to	4.41
12/31/2015		299,130,616		1.56	to		1.58		499,970,785		2.09			0.30		to	2.05			(2.53	)	to	(4.20	)
12/31/2014		379,652,087		1.60	to		1.65		658,335,948		2.68			0.30		to	2.05			2.27		to	0.51
12/31/2013		414,888,563		1.56	to		1.64		710,476,313		2.28			0.30		to	2.05			19.03		to	16.99
12/31/2012		451,770,419		1.31	to		1.40		658,658,023		2.45			0.30		to	2.05			10.31		to	8.41
TA Asset Allocation - Moderate Growth Service Class
12/31/2016		1,528,662,864		11.66	to		1.15		3,249,120,855		1.78			0.45		to	2.45			5.78		to	3.72
12/31/2015		1,697,285,643		11.02	to		1.11		3,272,645,909		1.98			0.45		to	2.45			(2.96	)	to	(4.85	)
12/31/2014		1,876,616,300		11.36	to		1.17		3,454,997,510		2.50			0.45		to	2.45			1.99		to	(0.00	)
12/31/2013		2,079,647,029		1.24	to		1.17		3,503,337,599		2.11			0.45		to	2.45			18.51		to	16.20
12/31/2012		2,125,509,526		1.00	to		1.00		2,923,286,005		2.26			0.45		to	2.45			9.88		to	7.72
TA Barrow Hanley Dividend Focused Initial Class
12/31/2016		160,020,752		1.87	to		2.04		363,999,021		2.15			0.30		to	2.05			14.57		to	12.61
12/31/2015		174,466,564		1.63	to		1.81		349,809,796		1.81			0.30		to	2.05			(3.88	)	to	(5.53	)
12/31/2014		218,849,432		1.69	to		1.92		461,315,863		1.33			0.30		to	2.05			11.83		to	9.92
12/31/2013		238,118,309		1.51	to		1.75		453,761,343		2.30			0.30		to	2.05			29.85		to	27.63
12/31/2012		262,265,811		1.17	to		1.37		390,319,419		1.79			0.30		to	2.05			11.39		to	9.47
TA Barrow Hanley Dividend Focused Service Class
12/31/2016		60,943,596		13.98	to		1.25		168,373,821		1.97			0.90		to	2.30			13.57		to	12.02
12/31/2015		63,543,533		12.31	to		1.12		145,023,856		1.69			0.90		to	2.30			(4.69	)	to	(5.99	)
12/31/2014		71,214,054		12.92	to		1.19		153,661,743		1.21			0.90		to	2.30			10.93		to	9.42
12/31/2013		70,626,332		1.30	to		1.09		121,748,244		2.16			1.00		to	2.30			28.64		to	27.01
12/31/2012		66,923,145		1.01	to		0.86		84,450,060		1.67			1.00		to	2.30			10.36		to	8.95
TA BlackRock Equity Smart Beta 100 Service Class
12/31/2016(1)		2,202,649		10.55	to		10.39		23,122,979		—			0.45		to	2.45			—		to	—
TA BlackRock Global Allocation Service Class
12/31/2016		629,799,019		11.17	to		1.42		1,268,057,537		0.38			0.45		to	2.30			4.09		to	2.22
12/31/2015		685,402,691		10.73	to		1.39		1,178,176,425		1.68			0.45		to	2.30			(1.67	)	to	(3.45	)
12/31/2014		759,341,068		10.91	to		1.44		1,227,043,635		1.75			0.45		to	2.30			1.29		to	(0.63	)
12/31/2013		821,637,564		1.18	to		1.45		1,266,112,947		1.12			0.45		to	2.40			13.92		to	11.75
12/31/2012		846,867,037		0.98	to		1.29		1,129,271,147		2.33			0.55		to	2.40			9.37		to	7.39
TA BlackRock Global Allocation Managed Risk - Balanced Service  Class
12/31/2016		17,333,758		9.53	to		9.14		162,138,960		2.00			0.45		to	2.45			(0.08	)	to	(2.02	)
12/31/2015		13,579,678		9.54	to		9.33		128,198,295		—			0.45		to	2.45			(3.86	)	to	(5.73	)
12/31/2014(1)		964,927		9.92	to		9.89		9,560,920		—			0.45		to	2.45			—		to	—
TA BlackRock Global Allocation Managed Risk - Growth Service  Class
12/31/2016		18,505,605		9.28	to		8.90		168,412,121		2.10			0.45		to	2.45			(0.63	)	to	(2.57	)
12/31/2015		16,301,610		9.34	to		9.13		150,650,346		—			0.45		to	2.45			(5.48	)	to	(7.33	)
12/31/2014(1)		1,085,461		9.88	to		9.85		10,712,850		—			0.45		to	2.45			—		to	—
TA BlackRock Smart Beta 50 Service Class
12/31/2016(1)		4,130,044		10.23	to		10.08		41,974,799		—			0.45		to	2.45			—		to	—
TA BlackRock Smart Beta 75 Service Class
12/31/2016(1)		1,123,248		10.30	to		10.15		11,506,416		—			0.45		to	2.45			—		to	—

61

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA BlackRock Tactical Allocation Service Class
12/31/2016		544,782,967	$	11.55	to	$	1.34	$	1,444,210,976		2.31	%		0.45	%	to	2.30	%		4.44	%	to	2.56	%
12/31/2015		592,846,759		11.06	to		1.31		1,402,475,363		1.75			0.45		to	2.30			(0.57	)	to	(2.37	)
12/31/2014		644,924,677		11.13	to		1.34		1,394,587,714		1.32			0.45		to	2.30			4.60		to	2.71
12/31/2013		595,858,562		1.18	to		1.31		1,085,728,107		1.34			0.45		to	2.30			11.84		to	9.82
12/31/2012		497,898,301		1.05	to		1.19		722,967,466		1.47			0.45		to	2.30			9.52		to	7.53
TA Clarion Global Real Estate Securities Initial Class
12/31/2016		18,463,874		1.64	to		2.35		44,536,161		1.76			0.30		to	2.05			0.32		to	(1.39	)
12/31/2015		20,659,242		1.64	to		2.38		50,028,208		4.17			0.30		to	2.05			(0.90	)	to	(2.60	)
12/31/2014		24,884,480		1.65	to		2.44		61,698,855		1.53			0.30		to	2.05			13.22		to	11.28
12/31/2013		25,898,917		1.46	to		2.19		57,062,615		5.48			0.30		to	2.05			3.59		to	1.81
12/31/2012		26,594,009		1.41	to		2.16		57,605,091		3.51			0.30		to	2.05			24.88		to	22.72
TA Clarion Global Real Estate Securities Service Class
12/31/2016		36,306,707		10.11	to		0.98		84,311,623		1.41			0.90		to	2.30			(0.48	)	to	(1.83	)
12/31/2015		42,323,555		10.16	to		1.00		89,462,036		4.08			0.90		to	2.30			(1.76	)	to	(3.10	)
12/31/2014		49,196,924		10.34	to		1.03		92,625,420		1.31			0.90		to	2.30			12.28		to	10.75
12/31/2013		42,999,885		1.12	to		0.93		67,513,394		5.20			1.00		to	2.30			2.68		to	1.37
12/31/2012		39,824,782		1.09	to		0.92		56,463,326		3.39			1.00		to	2.30			23.73		to	22.15
TA International Moderate Growth Initial Class
12/31/2016		69,400		1.17	to		1.15		80,122		2.15			0.30		to	0.45			0.92		to	0.77
12/31/2015		68,181		1.16	to		1.15		78,116		1.96			0.30		to	0.45			(1.93	)	to	(2.08	)
12/31/2014		68,194		1.19	to		1.17		79,791		2.28			0.30		to	0.45			(0.77	)	to	(0.92	)
12/31/2013		68,883		1.19	to		1.18		81,344		2.06			0.30		to	0.45			12.38		to	12.21
12/31/2012		69,730		1.06	to		1.05		73,383		3.07			0.30		to	0.45			12.47		to	12.30
TA International Moderate Growth Service Class
12/31/2016		358,429,603		10.32	to		0.92		551,114,925		1.85			0.45		to	2.45			0.62		to	(1.33	)
12/31/2015		406,136,679		10.26	to		0.93		595,453,089		1.79			0.45		to	2.45			(2.32	)	to	(4.23	)
12/31/2014		425,154,870		10.50	to		0.98		560,090,151		2.11			0.45		to	2.45			(1.23	)	to	(3.16	)
12/31/2013		462,667,833		1.19	to		1.01		540,097,455		1.89			0.45		to	2.45			11.96		to	9.77
12/31/2012		435,812,829		0.96	to		0.92		421,817,595		2.76			0.45		to	2.45			11.98		to	9.78
TA Janus Balanced Service Class
12/31/2016		197,498,662		12.25	to		1.16		687,948,240		1.09			0.45		to	2.30			3.65		to	1.78
12/31/2015		192,034,411		11.82	to		1.14		562,408,813		0.84			0.45		to	2.30			(0.33	)	to	(2.13	)
12/31/2014		155,749,876		11.86	to		1.17		351,230,964		0.65			0.45		to	2.30			7.35		to	5.41
12/31/2013		134,857,638		1.26	to		1.11		202,083,341		0.79			0.45		to	2.30			18.49		to	16.34
12/31/2012		79,178,162		0.91	to		0.95		77,245,177		—			0.45		to	2.30			11.99		to	9.96
TA Janus Mid-Cap Growth Initial Class
12/31/2016		44,776,658		2.04	to		1.64		60,228,303		—			0.30		to	2.05			(2.34	)	to	(4.01	)
12/31/2015		49,518,695		2.09	to		1.71		69,124,473		—			0.30		to	2.05			(5.32	)	to	(6.94	)
12/31/2014		66,529,721		2.20	to		1.84		99,193,842		—			0.30		to	2.05			(0.28	)	to	(1.99	)
12/31/2013		71,916,354		2.21	to		1.87		108,803,629		0.81			0.30		to	2.05			38.72		to	36.35
12/31/2012		80,353,211		1.59	to		1.37		88,377,560		—			0.30		to	2.05			8.75		to	6.88
TA Janus Mid-Cap Growth Service Class
12/31/2016		22,970,554		11.10	to		1.32		63,321,902		—			0.90		to	2.30			(3.18	)	to	(4.49	)
12/31/2015		27,213,018		11.47	to		1.38		68,159,564		—			0.90		to	2.30			(6.11	)	to	(7.39	)
12/31/2014		28,962,016		12.21	to		1.49		69,299,132		—			0.90		to	2.30			(1.15	)	to	(2.50	)
12/31/2013		30,804,833		2.05	to		1.53		66,970,148		0.59			1.00		to	2.30			37.45		to	35.71
12/31/2012		29,136,983		1.49	to		1.12		43,649,147		—			1.00		to	2.30			7.69		to	6.32
TA Jennison Growth Initial Class
12/31/2016		95,799,898		2.23	to		1.95		165,555,512		—			0.30		to	2.05			(1.94	)	to	(3.62	)
12/31/2015		108,015,766		2.27	to		2.03		192,227,221		—			0.30		to	2.05			11.07		to	9.16
12/31/2014		135,122,880		2.05	to		1.86		218,374,436		—			0.30		to	2.05			9.63		to	7.75
12/31/2013		144,329,746		1.87	to		1.72		215,213,377		0.26			0.30		to	2.05			37.29		to	34.94
12/31/2012		157,817,221		1.36	to		1.28		173,130,001		0.07			0.30		to	2.05			15.42		to	13.43

62

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA Jennison Growth Service Class
12/31/2016		23,846,550	$	14.68	to	$	1.60	$	88,426,137		—	%		0.90	%	to	2.30	%		(2.78	)%	to	(4.10	)%
12/31/2015		29,476,122		15.10	to		1.67		96,681,000		—			0.90		to	2.30			10.12		to	8.61
12/31/2014		26,708,592		13.72	to		1.54		67,454,449		—			0.90		to	2.30			8.81		to	7.32
12/31/2013		27,380,560		1.80	to		1.44		54,998,264		0.07			1.00		to	2.30			35.94		to	34.21
12/31/2012		27,585,024		1.33	to		1.07		37,902,871		—			1.00		to	2.30			14.26		to	12.80
TA JPMorgan Core Bond Service Class
12/31/2016		84,929,968		10.27	to		1.02		225,404,212		1.90			0.45		to	2.30			1.60		to	(0.23	)
12/31/2015		80,427,225		10.10	to		1.03		173,901,984		1.82			0.45		to	2.30			(0.11	)	to	(1.92	)
12/31/2014		83,188,018		10.12	to		1.05		139,476,584		1.77			0.45		to	2.30			4.63		to	2.74
12/31/2013		73,167,181		1.07	to		1.02		90,622,618		2.78			0.45		to	2.30			(2.57	)	to	(4.33	)
12/31/2011(1)		72,763,993		1.10	to		1.06		78,449,061		2.67			0.45		to	2.30			4.28		to	2.39
TA JPMorgan Enhanced Index Initial Class
12/31/2016		46,917,262		2.18	to		1.98		106,614,195		0.41			0.30		to	2.05			11.02		to	9.12
12/31/2015		49,201,659		1.96	to		1.82		101,285,585		0.93			0.30		to	2.05			(0.37	)	to	(2.08	)
12/31/2014		56,840,615		1.97	to		1.85		117,249,774		0.81			0.30		to	2.05			13.84		to	11.89
12/31/2013		55,031,777		1.73	to		1.66		100,660,653		0.67			0.30		to	2.05			32.12		to	29.86
12/31/2012		52,526,919		1.31	to		1.28		74,350,888		1.13			0.30		to	2.05			16.00		to	14.00
TA JPMorgan Enhanced Index Service Class
12/31/2016		13,075,401		14.48	to		1.47		51,966,255		0.18			0.90		to	2.30			10.13		to	8.63
12/31/2015		12,638,230		13.15	to		1.36		39,714,319		0.85			0.90		to	2.30			(1.25	)	to	(2.60	)
12/31/2014		13,180,874		13.32	to		1.39		36,235,761		0.66			0.90		to	2.30			12.95		to	11.41
12/31/2013		9,913,185		1.56	to		1.25		20,941,794		0.52			1.00		to	2.30			30.83		to	29.16
12/31/2012		5,368,914		1.19	to		0.97		7,225,436		0.99			1.00		to	2.30			14.94		to	13.47
TA JPMorgan Mid Cap Value Service Class
12/31/2016		52,307,287		14.75	to		2.21		198,647,207		1.97			0.45		to	2.30			13.77		to	11.71
12/31/2015		49,562,775		12.96	to		1.98		157,156,789		0.75			0.45		to	2.30			(3.37	)	to	(5.12	)
12/31/2014		51,842,761		13.41	to		2.09		151,741,957		0.60			0.45		to	2.30			14.47		to	12.40
12/31/2013		44,759,206		1.49	to		1.85		92,720,076		0.40			0.45		to	2.30			30.88		to	28.51
12/31/2012		31,803,797		1.11	to		1.44		46,730,625		0.65			0.45		to	2.30			19.69		to	17.52
TA JPMorgan Tactical Allocation Service Class
12/31/2016		379,479,465		11.05	to		1.10		1,253,888,489		1.15			0.45		to	2.30			3.73		to	1.86
12/31/2015		388,440,348		10.65	to		1.08		1,097,074,756		1.14			0.45		to	2.30			(0.85	)	to	(2.64	)
12/31/2014		374,130,018		10.74	to		1.11		825,197,475		0.95			0.45		to	2.30			5.81		to	3.89
12/31/2013		375,443,522		1.12	to		1.07		546,988,848		1.04			0.45		to	2.30			4.82		to	2.92
12/31/2012		283,194,118		1.07	to		1.04		298,886,788		0.62			0.45		to	2.30			6.98		to	5.04
TA Legg Mason Dynamic Allocation - Balanced Service Class
12/31/2016		290,004,410		10.79	to		1.07		1,174,416,752		1.09			0.45		to	2.05			(1.11	)	to	(2.66	)
12/31/2015		303,800,980		10.91	to		1.10		1,125,801,306		0.92			0.45		to	2.05			(2.51	)	to	(4.04	)
12/31/2014		249,433,962		11.19	to		1.15		738,870,798		0.66			0.45		to	2.05			8.00		to	6.30
12/31/2013		197,557,983		1.11	to		1.08		365,842,243		0.23			0.45		to	2.05			8.88		to	7.18
12/31/2012(1)		68,365,547		1.02	to		1.01		69,030,904		—			0.45		to	2.05			—		to	—
TA Legg Mason Dynamic Allocation - Growth Service Class
12/31/2016		132,145,826		11.07	to		1.11		513,884,084		1.03			0.45		to	2.05			(1.43	)	to	(2.97	)
12/31/2015		149,681,980		11.23	to		1.14		528,608,149		0.69			0.45		to	2.05			(3.38	)	to	(4.90	)
12/31/2014		99,859,668		11.62	to		1.20		297,102,967		0.57			0.45		to	2.05			7.69		to	6.00
12/31/2013		76,448,745		1.16	to		1.13		144,223,614		0.21			0.45		to	2.05			15.09		to	13.29
12/31/2012(1)		20,091,884		1.01	to		1.00		20,178,001		—			0.45		to	2.05			—		to	—
TA Madison Balanced Allocation Service Class
12/31/2016		41,735,960		11.31	to		1.19		105,012,541		1.84			1.15		to	1.90			4.05		to	3.28
12/31/2015		43,365,220		10.87	to		1.15		98,601,791		1.83			1.15		to	1.90			(1.87	)	to	(2.60	)
12/31/2014		44,591,131		11.08	to		1.18		94,800,820		0.69			1.15		to	1.90			4.53		to	3.75
12/31/2013		42,293,805		1.15	to		1.14		64,564,165		1.09			1.30		to	1.90			11.90		to	11.24
12/31/2012		28,210,824		1.03	to		1.02		29,065,560		0.59			1.30		to	1.90			6.91		to	6.27

63

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA Madison Conservative Allocation Service Class
12/31/2016		34,682,524	$	10.62	to	$	1.10	$	73,017,096		2.05	%		1.15	%	to	1.90	%		2.90	%	to	2.14	%
12/31/2015		38,496,050		10.32	to		1.08		74,112,509		1.72			1.15		to	1.90			(1.88	)	to	(2.61	)
12/31/2014		41,143,456		10.52	to		1.11		74,746,336		1.32			1.15		to	1.90			3.56		to	2.78
12/31/2013		44,440,435		1.09	to		1.08		64,098,730		1.26			1.30		to	1.90			5.49		to	4.87
12/31/2012		34,267,174		1.04	to		1.03		35,499,752		0.47			1.30		to	1.90			4.96		to	4.34
TA Madison Diversified Income Service Class
12/31/2016		55,129,242		11.20	to		1.20		115,967,502		1.32			1.15		to	1.90			5.62		to	4.83
12/31/2015		57,334,171		10.60	to		1.14		109,758,408		1.03			1.15		to	1.90			(1.00	)	to	(1.74	)
12/31/2014		59,704,752		10.71	to		1.16		105,588,057		0.70			1.15		to	1.90			4.60		to	3.82
12/31/2013		60,053,544		1.14	to		1.12		86,025,931		0.36			1.30		to	1.90			7.82		to	7.18
12/31/2012		44,043,920		1.06	to		1.05		46,510,212		0.09			1.30		to	1.90			4.30		to	3.68
TA Managed Risk - Balanced ETF Service Class
12/31/2016		1,640,125,949		1.36	to		1.13		5,673,175,806		1.65			0.30		to	2.45			3.44		to	1.28
12/31/2015		1,749,801,079		1.31	to		1.11		5,493,942,298		1.28			0.30		to	2.45			(2.06	)	to	(4.12	)
12/31/2014		1,756,579,111		1.34	to		1.16		4,522,734,970		0.95			0.30		to	2.45			4.24		to	2.05
12/31/2013		1,613,603,415		1.28	to		1.14		2,666,435,334		1.17			0.30		to	2.45			11.10		to	8.77
12/31/2012		1,148,678,174		1.16	to		1.05		1,281,462,055		1.26			0.30		to	2.45			8.07		to	5.79
TA Managed Risk - Conservative ETF Service Class
12/31/2016		324,381,240		11.05	to		1.18		777,003,480		1.61			0.45		to	2.45			3.61		to	1.59
12/31/2015		344,902,729		10.67	to		1.17		734,076,985		1.52			0.45		to	2.45			(1.13	)	to	(3.06	)
12/31/2014		363,756,951		10.79	to		1.20		674,485,127		1.28			0.45		to	2.45			4.77		to	2.73
12/31/2013		361,224,917		1.12	to		1.17		519,638,980		1.35			0.45		to	2.45			6.99		to	4.90
12/31/2012		317,054,059		1.05	to		1.12		366,004,420		1.11			0.45		to	2.45			6.14		to	4.05
TA Managed Risk - Growth ETF Service Class
12/31/2016		1,128,966,441		1.36	to		1.13		2,699,674,301		1.61			0.30		to	2.45			4.36		to	2.17
12/31/2015		1,301,705,474		1.30	to		1.11		2,828,869,757		1.46			0.30		to	2.45			(3.80	)	to	(5.82	)
12/31/2014		1,447,006,616		1.35	to		1.18		2,857,654,356		1.03			0.30		to	2.45			3.66		to	1.48
12/31/2013		1,349,170,047		1.31	to		1.16		2,009,478,549		1.29			0.30		to	2.45			18.43		to	15.94
12/31/2012		976,524,487		1.10	to		1.00		1,050,069,328		1.64			0.30		to	2.45			11.22		to	8.87
TA Market Participation Strategy Service Class
12/31/2016		112,269,327		11.77	to		1.13		453,011,302		0.16			0.45		to	2.05			3.70		to	2.07
12/31/2015		117,968,861		11.35	to		1.11		452,767,371		—			0.45		to	2.05			(3.68	)	to	(5.19	)
12/31/2014		111,054,031		11.78	to		1.17		418,144,147		—			0.45		to	2.05			7.56		to	5.87
12/31/2013		82,457,456		1.13	to		1.11		172,219,479		—			0.45		to	2.05			13.78		to	12.00
12/31/2012(1)		16,734,167		0.99	to		0.99		16,565,111		—			0.45		to	2.05			—		to	—
TA MFS International Equity Initial Class
12/31/2016		47,110,409		1.61	to		1.51		65,293,820		1.51			0.30		to	2.05			(0.22	)	to	(1.93	)
12/31/2015		51,016,252		1.61	to		1.54		71,124,446		1.55			0.30		to	2.05			(0.22	)	to	(1.93	)
12/31/2014		56,412,797		1.61	to		1.57		79,559,722		0.95			0.30		to	2.05			(5.46	)	to	(7.08	)
12/31/2013		59,179,818		1.71	to		1.68		88,662,107		1.17			0.30		to	2.05			17.74		to	15.72
12/31/2012		56,849,479		1.45	to		1.46		72,937,715		1.65			0.30		to	2.05			21.79		to	19.69
TA MFS International Equity Service Class
12/31/2016		29,624,976		10.22	to		0.96		84,422,845		1.35			0.90		to	2.30			(1.03	)	to	(2.37	)
12/31/2015		32,894,815		10.33	to		0.99		82,697,711		1.54			0.90		to	2.30			(1.14	)	to	(2.49	)
12/31/2014		29,976,630		10.44	to		1.01		62,827,783		0.83			0.90		to	2.30			(6.26	)	to	(7.54	)
12/31/2013		29,425,992		1.37	to		1.10		52,282,886		1.08			1.00		to	2.30			16.60		to	15.12
12/31/2012		21,745,871		1.17	to		0.95		29,441,850		1.52			1.00		to	2.30			20.66		to	19.12
TA Morgan Stanley Capital Growth Initial Class
12/31/2016		43,698,169		2.27	to		2.05		92,915,246		—			0.30		to	2.05			(2.56	)	to	(4.22	)
12/31/2015		47,282,114		2.33	to		2.14		104,267,818		—			0.30		to	2.05			11.45		to	9.54
12/31/2014		59,235,134		2.09	to		1.96		118,184,347		—			0.30		to	2.05			5.69		to	3.87
12/31/2013		63,858,118		1.98	to		1.88		122,190,639		0.68			0.30		to	2.05			47.81		to	45.27
12/31/2012		70,786,565		1.34	to		1.30		92,810,047		—			0.30		to	2.05			15.20		to	13.22

64

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA Morgan Stanley Capital Growth Service Class
12/31/2016		13,431,257	$	15.30	to	$	1.54	$	53,195,806		—	%		0.90	%	to	2.30	%		(3.37	)%	to	(4.69	)%
12/31/2015		15,649,714		15.84	to		1.61		53,335,138		—			0.90		to	2.30			10.45		to	8.95
12/31/2014		12,651,656		14.34	to		1.48		34,839,910		—			0.90		to	2.30			4.84		to	3.41
12/31/2013		14,630,108		1.74	to		1.43		30,532,381		0.52			1.00		to	2.30			46.42		to	44.56
12/31/2012		10,678,156		1.19	to		0.99		14,654,467		—			1.00		to	2.30			14.06		to	12.60
TA Multi-Managed Balanced Initial Class
12/31/2016		35,420,588		2.16	to		2.08		79,027,923		0.97			0.30		to	2.50			7.55		to	5.25
12/31/2015		34,089,325		2.01	to		1.98		71,558,086		1.35			0.30		to	2.50			(0.09	)	to	(1.80	)
12/31/2014		34,836,857		2.01	to		2.02		73,575,633		1.41			0.30		to	2.05			10.48		to	8.58
12/31/2013		31,688,745		1.82	to		1.86		60,860,817		1.66			0.30		to	2.05			17.74		to	15.72
12/31/2012		26,984,504		1.55	to		1.61		44,551,745		1.67			0.30		to	2.05			12.23		to	10.30
TA Multi-Managed Balanced Service Class
12/31/2016		219,709,404		1.82	to		1.53		904,843,654		0.93			0.30		to	2.45			7.32		to	5.07
12/31/2015		143,153,566		1.70	to		1.46		347,407,856		1.16			0.30		to	2.45			(0.36	)	to	(2.45	)
12/31/2014		134,975,301		1.71	to		1.49		270,653,285		1.19			0.30		to	2.45			10.17		to	7.86
12/31/2013		121,925,978		1.55	to		1.38		209,521,553		1.51			0.30		to	2.45			17.40		to	14.94
12/31/2012		110,385,736		1.32	to		1.20		160,467,731		1.51			0.30		to	2.45			12.06		to	9.70
TA Multi-Manager Alternative Strategies Service Class
12/31/2016		163,253		10.01	to		9.64		1,601,107		2.52			0.45		to	1.65			1.56		to	0.35
12/31/2015		181,063		9.85	to		9.60		1,760,776		0.36			0.45		to	1.65			(6.03	)	to	(7.15	)
12/31/2014		98,872		10.49	to		10.34		1,029,166		0.68			0.45		to	1.65			2.49		to	1.27
12/31/2013(1)		3,504		10.23	to		10.21		35,815		—			0.45		to	1.65			—		to	—
TA PIMCO Tactical - Balanced Service Class
12/31/2016		192,663,294		11.48	to		1.01		610,151,653		0.29			0.45		to	2.30			4.91		to	3.02
12/31/2015		194,833,059		10.95	to		0.98		571,936,975		—			0.45		to	2.30			(2.98	)	to	(4.74	)
12/31/2014		195,521,348		11.28	to		1.03		533,120,857		1.07			0.45		to	2.30			7.35		to	5.41
12/31/2013		171,119,545		1.10	to		0.98		288,333,349		0.68			0.45		to	2.30			11.35		to	9.33
12/31/2012		72,354,835		0.92	to		0.90		66,584,229		1.55			0.45		to	2.30			0.53		to	(1.30	)
TA PIMCO Tactical - Conservative Service Class
12/31/2016		87,765,386		11.29	to		0.97		273,382,211		0.41			0.45		to	2.30			4.51		to	2.62
12/31/2015		84,100,322		10.80	to		0.94		223,359,365		0.30			0.45		to	2.30			(2.52	)	to	(4.28	)
12/31/2014		72,728,605		11.08	to		0.99		132,338,428		1.23			0.45		to	2.30			8.24		to	6.28
12/31/2013		70,134,516		1.07	to		0.93		88,003,434		0.70			0.45		to	2.30			7.67		to	5.72
12/31/2012		46,065,653		0.88	to		0.88		41,475,616		1.11			0.45		to	2.30			1.07		to	(0.77	)
TA PIMCO Tactical - Growth Service Class
12/31/2016		97,932,555		11.55	to		0.97		334,243,979		—			0.45		to	2.30			4.40		to	2.52
12/31/2015		99,906,894		11.07	to		0.94		288,604,027		—			0.45		to	2.30			(3.89	)	to	(5.63	)
12/31/2014		77,908,150		11.51	to		1.00		171,846,465		1.80			0.45		to	2.30			5.92		to	4.00
12/31/2013		69,528,331		1.14	to		0.96		99,998,339		0.86			0.45		to	2.30			16.28		to	14.18
12/31/2012		38,893,640		0.83	to		0.84		33,577,730		0.48			0.45		to	2.30			0.24		to	(1.58	)
TA PIMCO Total Return Initial Class
12/31/2016		116,273,391		1.59	to		1.46		181,319,170		2.37			0.30		to	2.05			2.41		to	0.65
12/31/2015		125,233,326		1.56	to		1.45		192,941,918		2.51			0.30		to	2.05			0.39		to	(1.33	)
12/31/2014		158,410,090		1.55	to		1.47		245,905,910		1.89			0.30		to	2.05			4.36		to	2.57
12/31/2013		186,503,559		1.49	to		1.44		280,476,932		2.07			0.30		to	2.05			(2.84	)	to	(4.50	)
12/31/2012		235,018,700		1.53	to		1.50		368,216,199		4.07			0.30		to	2.05			7.23		to	5.38
TA PIMCO Total Return Service Class
12/31/2016		432,200,049		1.34	to		1.11		826,905,164		2.20			0.30		to	2.45			2.17		to	0.03
12/31/2015		475,137,309		1.31	to		1.11		833,576,453		2.54			0.30		to	2.45			0.22		to	(1.89	)
12/31/2014		530,733,545		1.31	to		1.13		859,856,281		1.62			0.30		to	2.45			4.03		to	1.84
12/31/2013		616,854,993		1.26	to		1.11		867,475,116		2.00			0.30		to	2.45			(3.06	)	to	(5.09	)
12/31/2012		659,113,836		1.30	to		1.17		888,810,204		4.13			0.30		to	2.45			7.00		to	4.74

65

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA PineBridge Inflation Opportunities Service Class
12/31/2016		101,867,579	$	9.21	to	$	0.95	$	175,347,485		0.58	%		0.45	%	to	2.30	%		3.34	%	to	1.47	%
12/31/2015		110,195,164		8.91	to		0.94		178,257,154		1.24			0.45		to	2.30			(3.30	)	to	(5.05	)
12/31/2014		121,100,596		9.22	to		0.98		182,242,932		0.29			0.45		to	2.30			2.92		to	1.05
12/31/2013		129,606,833		1.02	to		0.97		146,927,777		0.33			0.45		to	2.30			(9.95	)	to	(11.58	)
12/31/2012		138,283,516		1.14	to		1.10		154,482,171		0.26			0.45		to	2.30			5.82		to	3.90
TA ProFunds UltraBear Service Class (OAM)
12/31/2016		557,626,487		0.19	to		0.06		33,857,197		—			0.45		to	2.00			(23.94	)	to	(25.08	)
12/31/2015		406,801,801		0.25	to		0.08		32,809,667		—			0.45		to	2.00			(7.71	)	to	(9.10	)
12/31/2014		204,831,841		0.27	to		0.09		18,066,570		—			0.45		to	2.00			(25.91	)	to	(27.04	)
12/31/2013		150,209,677		0.37	to		0.12		18,076,038		—			0.45		to	2.00			(45.35	)	to	(46.19	)
12/31/2012		408,547,854		0.67	to		0.22		90,929,238		—			0.45		to	2.00			(29.75	)	to	(30.82	)
TA QS Investors Active Asset Allocation - Conservative Service Class
12/31/2016		201,671,367		10.50	to		1.06		425,136,568		1.26			0.45		to	2.45			2.19		to	0.20
12/31/2015		225,250,178		10.27	to		1.05		432,962,686		1.01			0.45		to	2.45			(2.80	)	to	(4.70	)
12/31/2014		245,264,820		10.57	to		1.11		413,140,719		1.06			0.45		to	2.45			3.14		to	1.13
12/31/2013		257,252,633		1.12	to		1.09		339,176,868		1.15			0.45		to	2.45			6.59		to	4.51
12/31/2012		224,069,875		1.05	to		1.05		231,402,059		0.41			0.45		to	2.45			6.30		to	4.21
TA QS Investors Active Asset Allocation - Moderate Service Class
12/31/2016		492,652,371		10.50	to		1.04		1,448,789,251		1.23			0.45		to	2.50			1.73		to	(0.30	)
12/31/2015		545,348,810		10.32	to		1.04		1,537,126,518		0.97			0.45		to	2.50			(4.71	)	to	(6.61	)
12/31/2014		581,745,788		10.83	to		1.11		1,586,689,643		0.67			0.45		to	2.50			3.15		to	1.29
12/31/2013		532,328,826		1.16	to		1.10		928,089,349		0.59			0.45		to	2.30			10.62		to	8.62
12/31/2012		282,438,251		1.04	to		1.01		290,136,478		0.17			0.45		to	2.30			7.81		to	5.85
TA QS Investors Active Asset Allocation - Moderate Growth Service  Class
12/31/2016		254,015,317		10.52	to		1.04		591,439,085		1.07			0.45		to	2.30			1.51		to	(0.32	)
12/31/2015		297,221,724		10.37	to		1.04		646,874,469		1.01			0.45		to	2.30			(6.95	)	to	(8.64	)
12/31/2014		328,199,796		11.14	to		1.14		650,876,591		0.77			0.45		to	2.30			2.76		to	0.90
12/31/2013		305,459,347		1.23	to		1.13		450,516,479		0.93			0.45		to	2.30			15.99		to	13.89
12/31/2012		179,927,432		1.02	to		0.99		181,159,665		0.70			0.45		to	2.30			10.46		to	8.45
TA Small/Mid Cap Value Initial Class
12/31/2016		24,866,417		2.35	to		3.68		129,843,084		0.78			0.30		to	2.05			20.76		to	18.70
12/31/2015		28,487,599		1.94	to		3.10		123,688,215		0.98			0.30		to	2.05			(2.80	)	to	(4.47	)
12/31/2014		35,048,217		2.00	to		3.25		156,210,025		0.77			0.30		to	2.05			4.91		to	3.11
12/31/2013		39,773,037		1.91	to		3.15		170,851,041		0.41			0.30		to	2.05			35.91		to	33.58
12/31/2012		45,088,639		1.40	to		2.36		144,509,630		0.52			0.30		to	2.05			16.04		to	14.04
TA Small/Mid Cap Value Service Class
12/31/2016		37,602,330		14.63	to		1.92		111,710,832		0.54			0.90		to	2.30			19.73		to	18.10
12/31/2015		37,708,384		12.22	to		1.63		88,569,777		0.81			0.90		to	2.30			(3.60	)	to	(4.92	)
12/31/2014		41,438,730		12.68	to		1.71		91,247,465		0.63			0.90		to	2.30			3.99		to	2.57
12/31/2013		42,265,850		1.80	to		1.67		78,397,395		0.31			1.00		to	2.30			34.69		to	32.98
12/31/2012		38,547,842		1.34	to		1.26		50,307,310		0.29			1.00		to	2.30			14.89		to	13.42
TA T. Rowe Price Small Cap Initial Class
12/31/2016		47,515,529		2.78	to		2.65		112,290,331		—			0.30		to	2.05			10.89		to	8.99
12/31/2015		50,302,232		2.51	to		2.43		108,382,266		—			0.30		to	2.05			2.13		to	0.38
12/31/2014		59,507,563		2.46	to		2.42		126,270,687		—			0.30		to	2.05			6.23		to	4.41
12/31/2013		66,357,693		2.31	to		2.32		133,781,369		0.07			0.30		to	2.05			43.64		to	41.18
12/31/2012		65,629,864		1.61	to		1.64		93,134,478		—			0.30		to	2.05			15.34		to	13.36
TA T. Rowe Price Small Cap Service Class
12/31/2016		40,379,882		15.14	to		1.97		191,512,774		—			0.90		to	2.30			10.01		to	8.51
12/31/2015		42,516,500		13.76	to		1.82		166,716,242		—			0.90		to	2.30			1.24		to	(0.14	)
12/31/2014		41,706,081		13.60	to		1.82		141,930,797		—			0.90		to	2.30			5.29		to	3.86
12/31/2013		43,650,997		2.20	to		1.75		116,003,107		—			1.00		to	2.30			42.28		to	40.47
12/31/2012		34,333,173		1.55	to		1.25		59,705,218		—			1.00		to	2.30			14.26		to	12.80

66

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
TA Torray Concentrated Growth Initial Class
12/31/2016		45,742,580	$	2.20	to	$	2.08	$	141,507,483		0.48	%		0.30	%	to	2.05	%		6.42	%	to	4.60	%
12/31/2015		50,917,336		2.06	to		1.99		150,665,726		0.52			0.30		to	2.05			(1.87	)	to	(3.55	)
12/31/2014		63,395,151		2.10	to		2.06		191,072,993		0.88			0.30		to	2.05			9.67		to	7.79
12/31/2013		70,219,032		1.92	to		1.92		194,713,563		0.97			0.30		to	2.05			32.70		to	30.43
12/31/2012		77,682,300		1.45	to		1.47		165,724,726		0.82			0.30		to	2.05			16.78		to	14.77
TA Torray Concentrated Growth Service Class
12/31/2016		11,214,378		13.35	to		1.45		32,531,628		0.14			0.90		to	2.30			5.52		to	4.09
12/31/2015		12,966,791		12.65	to		1.39		32,981,418		0.31			0.90		to	2.30			(2.72	)	to	(4.04	)
12/31/2014		15,772,261		13.00	to		1.45		36,258,952		0.67			0.90		to	2.30			8.76		to	7.28
12/31/2013		17,913,730		1.71	to		1.35		34,001,123		0.79			1.00		to	2.30			31.49		to	29.82
12/31/2012		15,349,874		1.30	to		1.04		21,586,847		0.65			1.00		to	2.30			15.66		to	14.19
TA TS&W International Equity Initial Class
12/31/2016		41,696,215		1.49	to		1.56		71,904,972		2.76			0.30		to	2.05			0.78		to	(0.95	)
12/31/2015		44,322,070		1.48	to		1.57		76,568,954		2.98			0.30		to	2.05			1.01		to	(0.72	)
12/31/2014		50,729,871		1.46	to		1.59		87,463,695		2.35			0.30		to	2.05			(5.47	)	to	(7.09	)
12/31/2013		52,989,718		1.55	to		1.71		97,474,795		2.32			0.30		to	2.05			23.97		to	21.85
12/31/2012		54,810,635		1.25	to		1.40		82,100,458		2.20			0.30		to	2.05			16.40		to	14.39
TA TS&W International Equity Service Class
12/31/2016		13,541,992		10.58	to		0.86		34,110,738		2.57			0.90		to	2.30			(0.13	)	to	(1.49	)
12/31/2015		16,788,573		10.59	to		0.87		36,053,774		2.99			0.90		to	2.30			0.13		to	(1.23	)
12/31/2014		15,903,634		10.58	to		0.88		29,124,189		2.20			0.90		to	2.30			(6.23	)	to	(7.51	)
12/31/2013		15,102,094		1.23	to		0.96		25,313,843		2.17			1.00		to	2.30			22.84		to	21.28
12/31/2012		11,880,393		1.00	to		0.79		15,587,968		2.03			1.00		to	2.30			15.28		to	13.81
TA WMC US Growth Initial Class
12/31/2016		152,376,830		1.89	to		1.36		236,978,354		0.40			0.30		to	2.30			2.50		to	0.50
12/31/2015		168,111,201		1.85	to		1.35		257,886,335		0.70			0.30		to	2.30			6.53		to	4.45
12/31/2014		206,111,980		1.73	to		1.29		301,151,694		0.88			0.30		to	2.30			10.77		to	8.61
12/31/2013		228,609,102		1.56	to		1.19		305,498,682		1.04			0.30		to	2.30			32.07		to	29.49
12/31/2012		256,585,260		1.18	to		0.92		261,805,432		0.31			0.30		to	2.30			12.83		to	10.61
TA WMC US Growth Service Class
12/31/2016		31,337,681		14.15	to		1.26		98,349,420		0.18			0.90		to	2.30			1.62		to	0.24
12/31/2015		33,875,319		13.92	to		1.26		96,971,678		0.54			0.90		to	2.30			5.66		to	4.21
12/31/2014		32,953,962		13.18	to		1.21		77,258,557		0.70			0.90		to	2.30			9.84		to	8.34
12/31/2013		34,571,986		1.37	to		1.11		61,053,692		0.80			1.00		to	2.30			30.82		to	29.16
12/31/2012		32,536,857		1.05	to		0.86		40,001,799		0.11			1.00		to	2.30			11.74		to	10.31
Vanguard® Equity Index
12/31/2016		411,968		1.79	to		1.74		1,920,746		2.45			0.30		to	1.00			11.48		to	10.70
12/31/2015		462,855		1.60	to		1.57		1,852,623		1.41			0.30		to	1.00			0.96		to	0.26
12/31/2014		476,937		1.59	to		1.57		948,899		1.65			0.30		to	1.00			13.17		to	12.38
12/31/2013		378,998		1.40	to		1.40		578,435		1.71			0.30		to	1.00			31.79		to	30.87
12/31/2012		495,731		1.06	to		1.07		531,667		1.95			0.30		to	1.00			15.51		to	14.71
Vanguard® International
12/31/2016		441,335		1.17	to		1.05		1,229,545		1.47			0.30		to	1.00			1.57		to	0.87
12/31/2015		426,145		1.15	to		1.04		1,169,229		1.30			0.30		to	1.00			(1.06	)	to	(1.76	)
12/31/2014		390,264		1.16	to		1.06		424,932		1.53			0.30		to	1.00			(6.34	)	to	(6.99	)
12/31/2013		472,637		1.24	to		1.14		538,704		1.42			0.30		to	1.00			22.89		to	22.04
12/31/2012		559,544		1.01	to		0.94		519,017		2.02			0.30		to	1.00			19.78		to	18.94
Vanguard® Mid-Cap Index
12/31/2016		243,199		1.85	to		1.62		845,838		1.52			0.30		to	1.00			10.78		to	10.01
12/31/2015		316,319		1.67	to		1.48		888,668		0.88			0.30		to	1.00			(1.73	)	to	(2.42	)
12/31/2014		249,421		1.70	to		1.51		427,668		0.93			0.30		to	1.00			13.25		to	12.46
12/31/2013		230,296		1.50	to		1.35		340,922		1.05			0.30		to	1.00			34.52		to	33.59
12/31/2012		297,422		1.12	to		1.01		325,310		1.15			0.30		to	1.00			15.47		to	14.66

67

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
			Unit Fair Value										Expense						Total Return***
			Corresponding to							Investment			Ratio**						Corresponding to
			Lowest to Highest					Net		Income			Lowest to						Lowest to Highest
Subaccount	Units		Expense Ratio					Assets		Ratio*			Highest						Expense Ratio
Vanguard® REIT Index
12/31/2016		136,899	$	1.54	to	$	1.58	$	358,742		2.67	%		0.30	%	to	1.00	%		8.03	%	to	7.28	%
12/31/2015		150,260		1.43	to		1.47		350,033		1.66			0.30		to	1.00			1.92		to	1.21
12/31/2014		174,728		1.40	to		1.45		315,866		3.46			0.30		to	1.00			29.72		to	28.82
12/31/2013		103,087		1.08	to		1.13		158,694		1.90			0.30		to	1.00			2.03		to	1.32
12/31/2012		140,160		1.06	to		1.11		158,685		1.90			0.30		to	1.00			17.11		to	16.29
Vanguard® Short-Term Investment Grade
12/31/2016		1,010,860		1.33	to		1.06		2,717,920		1.92			0.30		to	1.00			2.41		to	1.70
12/31/2015		1,147,149		1.30	to		1.04		2,902,363		1.62			0.30		to	1.00			0.82		to	0.12
12/31/2014		931,975		1.29	to		1.04		1,468,028		1.79			0.30		to	1.00			1.45		to	0.74
12/31/2013		1,376,709		1.27	to		1.03		1,873,277		1.85			0.30		to	1.00			0.78		to	0.08
12/31/2012		1,489,155		1.26	to		1.03		1,731,237		2.47			0.30		to	1.00			4.10		to	3.38
Vanguard® Total Bond Market Index
12/31/2016		445,728		1.44	to		1.11		1,483,525		2.33			0.30		to	1.00			2.16		to	1.45
12/31/2015		544,334		1.41	to		1.09		1,627,599		1.97			0.30		to	1.00			0.03		to	(0.66	)
12/31/2014		581,416		1.41	to		1.10		823,633		2.48			0.30		to	1.00			5.58		to	4.84
12/31/2013		650,046		1.34	to		1.05		799,864		3.26			0.30		to	1.00			(2.58	)	to	(3.26	)
12/31/2012		1,256,245		1.37	to		1.08		1,501,688		2.71			0.30		to	1.00			3.71		to	2.99
Voya Global Perspectives Class S Shares
12/31/2016		1,665		9.68	to		9.54		16,121		2.60			1.29		to	2.14			5.19		to	4.30
12/31/2015(1)		1,633		9.20	to		9.15		15,028		—			1.29		to	2.14			—		to	—
Voya Large Cap Value Class S Shares
12/31/2016		97		10.40	to		10.26		1,006		3.01			1.29		to	2.14			12.13		to	11.18
12/31/2015(1)		—		9.28	to		9.23		—		—			1.29		to	2.14			—		to	—
Voya Strategic Allocation Conservative Class S Shares
12/31/2016		—		10.00	to		9.86		—		—			1.29		to	2.14			4.12		to	3.25
12/31/2015(1)		—		9.61	to		9.55		—		—			1.29		to	2.14			—		to	—
Voya Strategic Allocation Moderate Class S Shares
12/31/2016		—		9.98	to		9.84		—		—			1.29		to	2.14			4.96		to	4.07
12/31/2015(1)		—		9.51	to		9.45		—		—			1.29		to	2.14			—		to	—
Wanger International
12/31/2016		141,836		1.26	to		1.13		308,283		1.18			0.30		to	0.80			(1.70	)	to	(2.19	)
12/31/2015		160,087		1.29	to		1.16		318,081		1.51			0.30		to	0.80			(0.20	)	to	(0.70	)
12/31/2014		145,508		1.29	to		1.17		232,919		1.44			0.30		to	0.80			(4.69	)	to	(5.17	)
12/31/2013		218,810		1.35	to		1.23		304,394		2.78			0.30		to	0.80			22.00		to	21.40
12/31/2012		179,090		1.11	to		1.01		188,772		1.22			0.30		to	0.80			21.20		to	20.59
Wanger USA
12/31/2016		67,832		1.85	to		1.82		177,312		—			0.30		to	0.80			13.35		to	12.78
12/31/2015		133,870		1.64	to		1.62		274,445		—			0.30		to	0.80			(0.91	)	to	(1.40	)
12/31/2014		89,393		1.65	to		1.64		204,779		—			0.30		to	0.80			4.47		to	3.95
12/31/2013		88,252		1.58	to		1.58		139,724		0.14			0.30		to	0.80			33.35		to	32.69
12/31/2012		94,839		1.18	to		1.19		112,860		0.29			0.30		to	0.80			19.66		to	19.06

⁽¹⁾  See footnote 1

* These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest.

68

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

4. Financial Highlights (continued)

** These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded.

*** These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return.

69

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

6. Administrative and Mortality and Expense Risk Charges

TLIC deducts a daily administrative charge equal to an annual rate of .15% of the daily net assets value of each subaccount for administrative expenses. TLIC also deducts an annual charge during the accumulation phase, not to exceed $35, proportionately from the subaccounts’ unit values. An annual charge ranging from 0.15% to 2.30% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC’s assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges.

In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees:

Subaccount	Additional Fund Facilitation Fee Assessed
AB Balanced Wealth Strategy Class B Shares		0.20	%
American Funds - Asset Allocation Class 2 Shares		0.30	%
American Funds - Bond Class 2 Shares		0.30	%
American Funds - Growth Class 2 Shares		0.30	%
American Funds - Growth-Income Class 2 Shares		0.30	%
American Funds - International Class 2 Shares		0.30	%
Fidelity® VIP Contrafund® Initial Class		0.20	%
Fidelity® VIP Equity-Income Initial Class		0.20	%
Fidelity® VIP Growth Initial Class		0.20	%
Fidelity® VIP Mid Cap Initial Class		0.20	%
Fidelity® VIP Value Strategies Initial Class		0.20	%
Franklin Founding Funds Allocation Class 4 Shares		0.15	%
State Street Total Return V.I.S. Class 3 Shares		0.20	%
Vanguard® Equity Index		0.20	%
Vanguard® International		0.20	%
Vanguard® Mid-Cap Index		0.20	%
Vanguard® REIT Index		0.20	%
Vanguard® Short-Term Investment Grade		0.20	%
Vanguard® Total Bond Market Index		0.20	%
Voya Global Perspectives Class S Shares		0.14	%
Voya Large Cap Value Class S Shares		0.14	%
Voya Strategic Allocation Conservative Class S Shares		0.14	%
Voya Strategic Allocation Moderate Class S Shares		0.14	%

7. Income Tax

Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code). The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation. The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC. Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts.

70

Transamerica Life Insurance Company

Separate Account VA B

Notes to Financial Statements

December 31, 2016

8. Subsequent Events

The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued. During this period, there were no subsequent events requiring recognition or disclosure in the financial statements.

9. Related Parties

Transamerica Capital, Inc. (“TCI”), a wholesaling broker-dealer, is an affiliated entity of TLIC and an indrect wholly owned subsidiary of AEGON N.V.. TCI distributes TLIC’s products through broker-dealers and other financial intermediaries.

The subaccounts invest in the mutual funds listed in Footnote 1. These investments include funds managed by Transamerica Asset Management, Inc. (“TAM”). Transamerica Fund Services, Inc. (“TFS”) serves as a transfer agent to TAM, and AEGON USA Asset Management Holding, LLC (“AAM”) serves as a sub-advisor for certain funds managed by TAM. TAM, TFS and AAM are affiliated entities of TLIC and indirect wholly owned subsidiaries of AEGON N.V.. Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both. The Separate Account pays management fees to the related funds as detailed in the fund prospectus.

No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties.

Contract owners may transfer funds between available subaccount options within the Separate Account. These transfers are performed at unit value at the time of the transfer.

71

FINANCIAL STATEMENTS

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Years Ended December 31, 2016 and 2015

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Financial Statements

Years Ended December 31, 2016 and 2015

Contents

Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Assets and Liabilities	2
Statements of Operations and Changes in Net Assets	5
Notes to Financial Statements	29

Report of Independent Registered Public Accounting Firm

To the Contract Owners of

Subaccounts of Separate Account VA BNY and

Board of Directors of

Transamerica Financial Life Insurance Company

In our opinion, for each of the subaccounts of Separate Account VA BNY indicated in the table below, the accompanying statements of assets and liabilities, and the related statement of operations and change in net assets present fairly, in all material respects, the financial position of each of the subaccounts of Separate Account VA BNY as of the date indicated in the table, and the results of each of their operations and changes in each of their net assets for each of the periods indicated in the table, in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the management of Transamerica Financial Life Insurance Company. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities as of December 31, 2016 by correspondence with the transfer agents of the investee mutual funds, provide a reasonable basis for our opinions.

AB Balanced Wealth Strategy Class B Shares (1)	TA BlackRock Tactical Allocation Service Class (1)
AB Growth and Income Class B Shares (1)	TA Clarion Global Real Estate Securities Initial Class (1)
AB Large Cap Growth Class B Shares (1)	TA Clarion Global Real Estate Securities Service Class (1)
American Funds - Asset Allocation Class 2 Shares (1)	TA International Moderate Growth Service Class (1)
American Funds - Bond Class 2 Shares (1)	TA Janus Balanced Service Class (1)
American Funds - Growth Class 2 Shares (1)	TA Janus Mid-Cap Growth Initial Class (1)
American Funds - Growth-Income Class 2 Shares (1)	TA Janus Mid-Cap Growth Service Class (1)
American Funds - International Class 2 Shares (1)	TA Jennison Growth Initial Class (1)
Fidelity® VIP Balanced Service Class 2 (1)	TA Jennison Growth Service Class (1)
Fidelity® VIP Contrafund® Initial Class (1)	TA JPMorgan Core Bond Service Class (1)
Fidelity® VIP Contrafund® Service Class 2 (1)	TA JPMorgan Enhanced Index Initial Class (1)
Fidelity® VIP Equity-Income Service Class 2 (1)	TA JPMorgan Enhanced Index Service Class (1)
Fidelity® VIP Growth Service Class 2 (1)	TA JPMorgan Mid Cap Value Service Class (1)
Fidelity® VIP Growth Opportunities Service Class 2 (1)	TA JPMorgan Tactical Allocation Service Class (1)
Fidelity® VIP Mid Cap Initial Class (1)	TA Legg Mason Dynamic Allocation - Balanced Service Class (1)
Fidelity® VIP Mid Cap Service Class 2 (1)	TA Legg Mason Dynamic Allocation - Growth Service Class (1)
Fidelity® VIP Value Strategies Initial Class (1)	TA Managed Risk - Balanced ETF Service Class (1)
Fidelity® VIP Value Strategies Service Class 2 (1)	TA Managed Risk - Conservative ETF Service Class (1)
Franklin Founding Funds Allocation Class 4 Shares (1)	TA Managed Risk - Growth ETF Service Class (1)
Franklin Income Class 2 Shares (1)	TA Market Participation Strategy Service Class (1)
Franklin Mutual Shares Class 2 Shares (1)	TA MFS International Equity Initial Class (1)
Franklin Templeton Foreign Class 2 Shares (1)	TA MFS International Equity Service Class (1)
Invesco V.I. American Franchise Series II Shares (1)	TA Morgan Stanley Capital Growth Initial Class (1)
Invesco V.I. Value Opportunities Series II Shares (1)	TA Morgan Stanley Capital Growth Service Class (1)
Janus Aspen - Enterprise Service Shares (1)	TA Multi-Managed Balanced Initial Class (1)
Janus Aspen - Global Research Service Shares (1)	TA Multi-Managed Balanced Service Class (1)
Janus Aspen - Perkins Mid Cap Value Service Shares (1)	TA Multi-Manager Alternative Strategies Service Class (1)
JPMorgan Insurance Trust Core Bond Class 1 Shares (1)	TA PIMCO Tactical - Balanced Service Class (1)
JPMorgan Insurance Trust Mid Cap Value Class 1 Shares (1)	TA PIMCO Tactical - Conservative Service Class (1)
JPMorgan Insurance Trust Small Cap Core Class 1 Shares (1)	TA PIMCO Tactical - Growth Service Class (1)
JPMorgan Insurance Trust U.S. Equity Class 1 Shares (1)	TA PIMCO Total Return Initial Class (1)
MFS® New Discovery Service Class (1)	TA PIMCO Total Return Service Class (1)
MFS® Total Return Service Class (1)	TA PineBridge Inflation Opportunities Service Class (1)
State Street Total Return V.I.S. Class 3 Shares (1)	TA ProFunds UltraBear Service Class (OAM) (1)
TA AB Dynamic Allocation Initial Class (1)	TA QS Investors Active Asset Allocation - Conservative Service Class (1)
TA AB Dynamic Allocation Service Class (1)	TA QS Investors Active Asset Allocation - Moderate Service Class (1)
TA Aegon Government Money Market Initial Class (1)	TA QS Investors Active Asset Allocation - Moderate Growth Service Class (1)
TA Aegon Government Money Market Service Class (1)	TA Small/Mid Cap Value Initial Class (1)
TA Aegon High Yield Bond Initial Class (1)	TA Small/Mid Cap Value Service Class (1)
TA Aegon High Yield Bond Service Class (1)	TA T. Rowe Price Small Cap Initial Class (1)
TA Aegon U.S. Government Securities Initial Class (1)	TA T. Rowe Price Small Cap Service Class (1)
TA Aegon U.S. Government Securities Service Class (1)	TA Torray Concentrated Growth Initial Class (1)
TA American Funds Managed Risk - Balanced Service Class (2)	TA Torray Concentrated Growth Service Class (1)
TA Asset Allocation - Conservative Initial Class (1)	TA TS&W International Equity Initial Class (1)
TA Asset Allocation - Conservative Service Class (1)	TA TS&W International Equity Service Class (1)
TA Asset Allocation - Growth Initial Class (1)	TA WMC US Growth Initial Class (1)
TA Asset Allocation - Growth Service Class (1)	TA WMC US Growth Service Class (1)
TA Asset Allocation - Moderate Initial Class (1)	Vanguard® Equity Index (1)
TA Asset Allocation - Moderate Service Class (1)	Vanguard® International (1)
TA Asset Allocation - Moderate Growth Initial Class (1)	Vanguard® Mid-Cap Index (1)
TA Asset Allocation - Moderate Growth Service Class (1)	Vanguard® REIT Index (1)
TA Barrow Hanley Dividend Focused Initial Class (1)	Vanguard® Short-Term Investment Grade (1)
TA Barrow Hanley Dividend Focused Service Class (1)	Vanguard® Total Bond Market Index (1)
TA BlackRock Equity Smart Beta 100 Service Class (3)	Voya Global Perspectives Class S Shares (2)
TA BlackRock Global Allocation Service Class (1)	Voya Large Cap Value Class S Shares (2)
TA BlackRock Global Allocation Managed Risk - Balanced Service Class (2)	Voya Strategic Allocation Conservative Class S Shares (2)
TA BlackRock Global Allocation Managed Risk - Growth Service Class (2)	Voya Strategic Allocation Moderate Class S Shares (2)
TA BlackRock Smart Beta 50 Service Class (3)	Wanger International (1)
TA BlackRock Smart Beta 75 Service Class (3)	Wanger USA (1)

(1) Statement of assets and liabilities as of December 31, 2016, and statement of operations and change in net assets for the years ended December 31, 2016 and 2015

(2) Statement of assets and liabilities as of December 31, 2016 and statement of operations and change in net assets for the year ended December 31, 2016 and the period May 1, 2015 (commencement of operations) through December 31, 2015

(3) Statement of assets and liabilities as of December 31, 2016 and statement of operations and change in net assets for the period March 21, 2016 (commencement of operations) through December 31, 2016

/s/PricewaterhouseCoopers LLP

Chicago, Illinois

April 24, 2017

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to) /from General Account			Net Assets		Units Outstanding		Range of Unit Values
AB Balanced Wealth Strategy Class B Shares		404,598.627	$	4,648,367	$	4,215,918	$	11		$	4,215,929		2,023,694	$	1.697499	$	12.014964
AB Growth and Income Class B Shares		578,852.197		15,137,920		17,846,013		40			17,846,053		5,510,413		1.567672		14.432762
AB Large Cap Growth Class B Shares		10,323.152		312,260		447,199		—			447,199		217,408		1.464243		2.399864
American Funds - Asset Allocation Class 2 Shares		2,128,703.553		43,377,961		45,745,839		(17	)		45,745,822		17,001,645		1.651413		12.875039
American Funds - Bond Class 2 Shares		1,475,614.284		16,170,422		15,744,804		(36	)		15,744,768		5,550,075		1.075733		10.243697
American Funds - Growth Class 2 Shares		459,875.535		31,392,654		30,774,871		(1	)		30,774,870		5,791,039		1.897813		14.768988
American Funds - Growth-Income Class 2 Shares		545,924.618		25,191,220		24,020,683		29			24,020,712		6,196,880		1.852328		14.686895
American Funds - International Class 2 Shares		684,716.038		12,948,788		11,475,841		8			11,475,849		4,168,809		1.067769		10.655038
Fidelity® VIP Balanced Service Class 2		1,287,713.852		20,683,390		21,131,384		(2	)		21,131,382		9,610,359		1.441117		13.018170
Fidelity® VIP Contrafund® Initial Class		—		—		—		—			—		—		14.171822		14.354772
Fidelity® VIP Contrafund® Service Class 2		1,063,201.042		34,438,072		34,500,874		8			34,500,882		6,870,488		1.564611		14.088132
Fidelity® VIP Equity-Income Service Class 2		39,582.801		785,628		849,447		(6	)		849,441		441,460		1.509040		2.282670
Fidelity® VIP Growth Service Class 2		13,435.036		544,018		785,144		11			785,155		408,897		1.447550		2.348192
Fidelity® VIP Growth Opportunities Service Class 2		58.237		1,115		1,788		4			1,792		1,283		1.362885		1.827021
Fidelity® VIP Mid Cap Initial Class		—		—		—		—			—		—		14.181532		14.364630
Fidelity® VIP Mid Cap Service Class 2		847,115.768		28,097,845		27,980,234		(18	)		27,980,216		5,297,560		1.685554		14.094151
Fidelity® VIP Value Strategies Initial Class		1,445.323		19,916		22,793		—			22,793		1,731		13.000140		13.167998
Fidelity® VIP Value Strategies Service Class 2		682,469.866		10,268,966		10,823,972		(20	)		10,823,952		2,168,759		1.623319		12.914970
Franklin Founding Funds Allocation Class 4 Shares		512,380.616		3,795,317		3,694,264		(5	)		3,694,259		1,941,404		1.831087		1.952137
Franklin Income Class 2 Shares		226,110.845		3,354,370		3,477,585		(17	)		3,477,568		2,549,956		1.272407		1.437778
Franklin Mutual Shares Class 2 Shares		38,626.201		652,310		775,614		13			775,627		582,908		1.219933		1.450844
Franklin Templeton Foreign Class 2 Shares		123,665.364		1,690,738		1,683,086		(3	)		1,683,083		1,725,317		0.917521		1.003768
Invesco V.I. American Franchise Series II Shares		3,540.807		134,873		183,980		5			183,985		125,436		1.436782		1.490702
Invesco V.I. Value Opportunities Series II Shares		58,285.193		360,891		375,939		6			375,945		270,675		1.226279		1.808749
Janus Aspen - Enterprise Service Shares		5,174.093		218,197		290,888		5			290,893		97,516		1.186408		4.031762
Janus Aspen - Global Research Service Shares		9,921.411		282,799		395,567		(6	)		395,561		289,631		0.863806		1.717125
Janus Aspen - Perkins Mid Cap Value Service Shares		146.449		2,181		2,358		(2	)		2,356		1,004		2.291991		2.411849
JPMorgan Insurance Trust Core Bond Class 1 Shares		48,434.718		553,741		525,032		(6	)		525,026		417,140		1.209147		1.274939
JPMorgan Insurance Trust Mid Cap Value Class 1 Shares		14,733.003		82,990		161,768		(3	)		161,765		52,138		2.951109		3.111631
JPMorgan Insurance Trust Small Cap Core Class 1 Shares		355.817		4,634		8,002		5			8,007		2,590		2.962094		3.122963
JPMorgan Insurance Trust U.S. Equity Class 1 Shares		2,657.516		43,781		71,806		2			71,808		25,556		2.677332		2.822986
MFS® New Discovery Service Class		113,193.516		1,737,578		1,699,035		(6	)		1,699,029		728,669		1.968123		2.766987
MFS® Total Return Service Class		79,975.791		1,528,246		1,824,248		(10	)		1,824,238		1,048,659		1.408863		1.929865
State Street Total Return V.I.S. Class 3 Shares		128,336.833		2,262,330		2,313,913		6			2,313,919		1,363,223		1.296435		11.592712
TA AB Dynamic Allocation Initial Class		6,211.304		52,538		58,883		1			58,884		35,803		1.349470		1.721818
TA AB Dynamic Allocation Service Class		2,368,682.337		21,420,370		22,289,301		(19	)		22,289,282		8,614,962		1.040643		10.784372
TA Aegon Government Money Market Initial Class		78,242.450		78,242		78,242		7			78,249		58,892		0.921568		1.328679
TA Aegon Government Money Market Service Class		36,408,115.878		36,408,115		36,408,116		63			36,408,179		12,254,624		0.885046		9.838155
TA Aegon High Yield Bond Initial Class		12,549.802		98,587		98,516		1			98,517		36,425		1.342934		11.429710
TA Aegon High Yield Bond Service Class		834,313.485		6,674,429		6,641,135		—			6,641,135		2,268,819		1.589960		11.146563
TA Aegon U.S. Government Securities Initial Class		21,336.326		260,596		251,982		(3	)		251,979		127,683		1.247539		1.973476
TA Aegon U.S. Government Securities Service Class		5,983,273.679		74,384,605		72,397,612		(34	)		72,397,578		19,883,084		1.026506		9.902034

See accompanying notes.

2

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to) /from General Account			Net Assets		Units Outstanding		Range of Unit Values
TA American Funds Managed Risk - Balanced Service Class		2,631,551.024	$	25,733,298	$	26,789,189	$	7		$	26,789,196		2,676,423	$	9.900717	$	10.236549
TA Asset Allocation - Conservative Initial Class		1,575.892		16,640		16,043		(1	)		16,042		9,676		1.420316		1.789243
TA Asset Allocation - Conservative Service Class		6,014,453.843		63,146,439		60,565,550		(148	)		60,565,402		23,849,251		1.152175		10.828489
TA Asset Allocation - Growth Initial Class		4,878.006		48,289		55,365		1			55,366		30,761		1.608392		2.129351
TA Asset Allocation - Growth Service Class		670,084.064		6,877,030		7,545,147		—			7,545,147		2,822,565		1.214480		12.147169
TA Asset Allocation - Moderate Initial Class		79,971.901		859,325		903,682		(3	)		903,679		513,502		1.528405		1.951460
TA Asset Allocation - Moderate Service Class		25,248,069.767		283,221,226		281,768,459		(5	)		281,768,454		104,593,983		1.219283		11.173763
TA Asset Allocation - Moderate Growth Initial Class		32,756.390		369,909		387,181		(2	)		387,179		211,341		1.594537		2.067039
TA Asset Allocation - Moderate Growth Service Class		13,912,324.221		157,195,448		162,356,824		105			162,356,929		57,499,076		1.244556		11.659963
TA Barrow Hanley Dividend Focused Initial Class		134,307.524		1,945,831		3,032,664		13			3,032,677		1,213,323		1.661585		14.358328
TA Barrow Hanley Dividend Focused Service Class		866,017.886		17,546,170		19,563,344		(4	)		19,563,340		5,972,559		1.443977		13.981645
TA BlackRock Equity Smart Beta 100 Service Class		106,369.019		1,109,759		1,126,448		—			1,126,448		107,409		10.425324		10.590000
TA BlackRock Global Allocation Service Class		4,672,843.632		61,838,898		62,055,363		156			62,055,519		29,085,578		1.214932		11.166514
TA BlackRock Global Allocation Managed Risk - Balanced Service Class		814,866.269		7,667,743		7,203,418		1			7,203,419		770,157		9.221302		9.625613
TA BlackRock Global Allocation Managed Risk - Growth Service Class		845,744.107		7,865,166		7,315,687		(5	)		7,315,682		802,785		8.978574		9.372265
TA BlackRock Smart Beta 50 Service Class		342,434.953		3,530,611		3,516,807		(1	)		3,516,806		345,827		10.110246		10.270000
TA BlackRock Smart Beta 75 Service Class		80,640.802		828,027		833,826		—			833,826		81,476		10.179177		10.340000
TA BlackRock Tactical Allocation Service Class		6,753,343.550		102,947,348		100,557,285		130			100,557,415		32,609,979		1.269364		11.553302
TA Clarion Global Real Estate Securities Initial Class		1,797.773		25,434		22,041		(4	)		22,037		8,553		1.322655		10.372372
TA Clarion Global Real Estate Securities Service Class		446,639.914		5,810,067		5,721,457		(3	)		5,721,454		1,703,876		1.148187		10.111068
TA International Moderate Growth Service Class		4,505,882.766		42,542,596		41,499,180		24			41,499,204		19,645,357		0.960328		10.320954
TA Janus Balanced Service Class		5,013,840.287		64,961,023		66,684,076		(83	)		66,683,993		17,165,988		1.191270		12.248668
TA Janus Mid-Cap Growth Initial Class		1,897.795		52,861		47,881		(1	)		47,880		32,509		1.262806		11.397285
TA Janus Mid-Cap Growth Service Class		146,771.274		4,225,284		3,562,139		12			3,562,151		1,076,773		1.462551		11.101466
TA Jennison Growth Initial Class		161,621.811		1,443,532		1,422,272		(2	)		1,422,270		840,949		1.641377		15.068576
TA Jennison Growth Service Class		1,911,931.474		18,246,854		16,155,821		8			16,155,829		4,656,507		1.788347		14.683544
TA JPMorgan Core Bond Service Class		2,021,271.812		28,141,392		27,671,211		(16	)		27,671,195		9,984,860		1.042771		10.266455
TA JPMorgan Enhanced Index Initial Class		33,253.110		523,812		610,860		(1	)		610,859		206,326		1.799103		14.849813
TA JPMorgan Enhanced Index Service Class		240,998.214		4,292,086		4,419,907		(2	)		4,419,905		466,902		1.719043		14.480829
TA JPMorgan Mid Cap Value Service Class		1,370,306.908		27,375,536		26,255,080		(12	)		26,255,068		5,651,589		1.855889		14.745935
TA JPMorgan Tactical Allocation Service Class		5,633,416.520		80,807,732		83,825,238		(57	)		83,825,181		22,814,234		1.124226		11.050062
TA Legg Mason Dynamic Allocation - Balanced Service Class		8,615,428.848		100,501,091		96,492,803		89			96,492,892		22,101,622		1.074682		10.790923
TA Legg Mason Dynamic Allocation - Growth Service Class		5,365,101.544		65,087,987		62,664,386		(94	)		62,664,292		15,446,885		1.113574		11.067720
TA Managed Risk - Balanced ETF Service Class		39,450,627.944		449,860,780		438,296,476		(4	)		438,296,472		127,929,980		1.176865		11.092061
TA Managed Risk - Conservative ETF Service Class		7,559,149.597		90,156,838		88,366,459		29			88,366,488		33,427,887		1.185899		11.054517
TA Managed Risk - Growth ETF Service Class		37,104,977.112		376,475,988		354,352,531		(64	)		354,352,467		122,841,558		1.180669		11.432595
TA Market Participation Strategy Service Class		2,945,665.951		33,830,476		34,140,268		12			34,140,280		8,820,580		1.138890		11.768654
TA MFS International Equity Initial Class		7,837.677		59,303		61,839		(3	)		61,836		46,174		1.233207		10.484602
TA MFS International Equity Service Class		1,721,991.612		13,792,986		13,345,435		(35	)		13,345,400		5,268,104		1.089131		10.219366
TA Morgan Stanley Capital Growth Initial Class		4,736.253		75,422		63,703		(4	)		63,699		28,129		2.048127		2.726828
TA Morgan Stanley Capital Growth Service Class		281,466.282		4,001,308		3,709,726		(1	)		3,709,725		641,141		1.773151		15.303842

See accompanying notes.

3

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Assets and Liabilities

December 31, 2016

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to) /from General Account			Net Assets		Units Outstanding		Range of Unit Values
TA Multi-Managed Balanced Initial Class		2,048.891	$	27,147	$	27,783	$	(8	)	$	27,775		12,065	$	2.059810	$	2.390155
TA Multi-Managed Balanced Service Class		6,266,390.533		82,348,458		83,405,658		(15	)		83,405,643		12,471,373		1.468810		12.822377
TA Multi-Manager Alternative Strategies Service Class		21,884.306		219,884		212,059		—			212,059		21,576		9.636402		10.008076
TA PIMCO Tactical - Balanced Service Class		3,187,661.490		36,627,688		37,518,776		(12	)		37,518,764		11,684,566		1.039395		11.484122
TA PIMCO Tactical - Conservative Service Class		2,104,351.466		23,915,960		24,094,824		—			24,094,824		7,056,786		0.992341		11.288971
TA PIMCO Tactical - Growth Service Class		2,676,360.528		29,972,032		30,537,274		3			30,537,277		7,608,963		0.991475		11.552115
TA PIMCO Total Return Initial Class		25,133.185		290,111		279,732		3			279,735		173,971		1.393254		1.643290
TA PIMCO Total Return Service Class		6,950,247.027		80,515,749		76,869,732		93			76,869,825		33,634,576		1.074326		10.135749
TA PineBridge Inflation Opportunities Service Class		1,464,500.908		15,392,991		14,601,074		47			14,601,121		9,361,263		0.955390		9.208316
TA ProFunds UltraBear Service Class (OAM)		1,675,224.542		1,514,766		1,139,153		14			1,139,167		18,800,019		0.058644		0.062991
TA QS Investors Active Asset Allocation - Conservative Service Class		2,451,298.060		25,947,475		25,125,805		(36	)		25,125,769		9,783,495		1.053500		10.495530
TA QS Investors Active Asset Allocation - Moderate Service Class		8,403,533.854		94,501,430		89,329,565		13			89,329,578		28,275,068		1.060382		10.496305
TA QS Investors Active Asset Allocation - Moderate Growth Service Class		5,202,331.744		58,606,610		53,011,760		33			53,011,793		15,556,628		1.058957		10.523814
TA Small/Mid Cap Value Initial Class		154,599.951		2,929,749		3,209,495		5			3,209,500		320,871		1.770249		15.018692
TA Small/Mid Cap Value Service Class		509,442.695		10,324,134		10,341,687		16			10,341,703		3,406,282		1.983251		14.632240
TA T. Rowe Price Small Cap Initial Class		19,529.131		249,393		265,401		(2	)		265,399		65,922		1.789628		15.530319
TA T. Rowe Price Small Cap Service Class		2,297,745.974		29,577,530		29,755,810		(30	)		29,755,780		5,742,239		2.318467		15.141733
TA Torray Concentrated Growth Initial Class		77,546.462		1,304,445		1,386,531		—			1,386,531		240,921		1.628221		13.702517
TA Torray Concentrated Growth Service Class		142,523.238		2,601,828		2,608,175		9			2,608,184		854,672		1.650002		13.349697
TA TS&W International Equity Initial Class		56,028.532		658,060		672,342		10			672,352		316,110		1.286393		10.863282
TA TS&W International Equity Service Class		210,507.768		2,640,945		2,505,042		2			2,505,044		695,271		0.945899		10.577180
TA WMC US Growth Initial Class		107,588.160		2,611,386		2,506,804		18			2,506,822		1,806,388		1.346805		14.521443
TA WMC US Growth Service Class		707,678.104		16,836,883		16,149,214		28			16,149,242		4,989,273		1.379395		14.149385
Vanguard® Equity Index		22,526.240		759,407		802,610		—			802,610		54,305		14.671736		14.861114
Vanguard® International		23,403.382		485,226		457,068		1			457,069		42,274		10.730311		10.868870
Vanguard® Mid-Cap Index		—		—		—		—			—		—		14.258431		14.442511
Vanguard® REIT Index		—		—		—		—			—		—		12.427243		12.587633
Vanguard® Short-Term Investment Grade		—		—		—		—			—		—		10.208320		10.340130
Vanguard® Total Bond Market Index		29,754.648		366,344		350,212		—			350,212		34,255		10.149050		10.280120
Voya Global Perspectives Class S Shares		—		—		—		—			—		—		9.543355		9.889978
Voya Large Cap Value Class S Shares		—		—		—		—			—		—		10.258396		10.630966
Voya Strategic Allocation Conservative Class S Shares		—		—		—		—			—		—		9.861563		10.219710
Voya Strategic Allocation Moderate Class S Shares		—		—		—		—			—		—		9.837219		10.194506
Wanger International		—		—		—		—			—		—		10.164500		10.295749
Wanger USA		—		—		—		—			—		—		14.165017		14.347877

See accompanying notes.

4

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	AB Balanced Wealth Strategy Class B Shares Subaccount			AB Growth and Income Class B Shares Subaccount			AB Large Cap Growth Class B Shares Subaccount			American Funds - Asset Allocation Class 2 Shares Subaccount			American Funds - Bond Class 2 Shares Subaccount
Net Assets as of December 31, 2014:	$	4,312,479		$	12,486,991		$	465,125		$	30,134,635		$	10,292,485
Investment Income:
Reinvested Dividends		91,551			171,389			—			528,387			211,559
Investment Expense:
Mortality and Expense Risk and Administrative Charges		75,053			204,831			6,328			557,655			202,896
Net Investment Income (Loss)		16,498			(33,442	)		(6,328	)		(29,268	)		8,663
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		418,087			—			42,232			2,253,937			232,090
Realized Gain (Loss) on Investments		(26,851	)		300,576			23,587			185,368			(15,359	)
Net Realized Capital Gains (Losses) on Investments		391,236			300,576			65,819			2,439,305			216,731
Net Change in Unrealized Appreciation (Depreciation)		(434,049	)		(309,224	)		(17,278	)		(2,667,334	)		(411,964	)
Net Gain (Loss) on Investment		(42,813	)		(8,648	)		48,541			(228,029	)		(195,233	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(26,315	)		(42,090	)		42,213			(257,297	)		(186,570	)
Increase (Decrease) in Net Assets from Contract Transactions		270,860			1,945,441			(39,057	)		2,463,124			2,471,115
Total Increase (Decrease) in Net Assets		244,545			1,903,351			3,156			2,205,827			2,284,545
Net Assets as of December 31, 2015:	$	4,557,024		$	14,390,342		$	468,281		$	32,340,462		$	12,577,030
Investment Income:
Reinvested Dividends		81,888			133,548			—			669,159			258,123
Investment Expense:
Mortality and Expense Risk and Administrative Charges		73,549			227,585			6,107			628,639			255,654
Net Investment Income (Loss)		8,339			(94,037	)		(6,107	)		40,520			2,469
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		303,137			991,682			53,540			837,432			52,258
Realized Gain (Loss) on Investments		(183,882	)		291,931			13,718			147,690			(35,300	)
Net Realized Capital Gains (Losses) on Investments		119,255			1,283,613			67,258			985,122			16,958
Net Change in Unrealized Appreciation (Depreciation)		(9,006	)		316,227			(56,566	)		1,595,206			46,242
Net Gain (Loss) on Investment		110,249			1,599,840			10,692			2,580,328			63,200
Net Increase (Decrease) in Net Assets Resulting from Operations		118,588			1,505,803			4,585			2,620,848			65,669
Increase (Decrease) in Net Assets from Contract Transactions		(459,683	)		1,949,908			(25,667	)		10,784,512			3,102,069
Total Increase (Decrease) in Net Assets		(341,095	)		3,455,711			(21,082	)		13,405,360			3,167,738
Net Assets as of December 31, 2016:	$	4,215,929		$	17,846,053		$	447,199		$	45,745,822		$	15,744,768

See Accompanying Notes.

⁽¹⁾ See Footnote 1

5

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	American Funds - Growth Class 2 Shares Subaccount			American Funds - Growth- Income Class 2 Shares Subaccount			American Funds - International Class 2 Shares Subaccount			Fidelity® VIP Balanced Service Class 2 Subaccount			Fidelity® VIP Contrafund® Initial Class Subaccount
Net Assets as of December 31, 2014:	$	20,881,031		$	16,812,248		$	15,825,063		$	18,248,581		$	—
Investment Income:
Reinvested Dividends		149,544			257,826			187,548			283,334			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		435,352			349,911			309,049			299,055			—
Net Investment Income (Loss)		(285,808	)		(92,085	)		(121,501	)		(15,721	)		—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		4,649,731			2,721,213			1,013,450			590,667			—
Realized Gain (Loss) on Investments		(147,904	)		(179,876	)		106,067			122,294			—
Net Realized Capital Gains (Losses) on Investments		4,501,827			2,541,337			1,119,517			712,961			—
Net Change in Unrealized Appreciation (Depreciation)		(3,264,869	)		(2,692,855	)		(2,063,680	)		(993,867	)		—
Net Gain (Loss) on Investment		1,236,958			(151,518	)		(944,163	)		(280,906	)		—
Net Increase (Decrease) in Net Assets Resulting from Operations		951,150			(243,603	)		(1,065,664	)		(296,627	)		—
Increase (Decrease) in Net Assets from Contract Transactions		3,380,709			2,965,484			(4,466,615	)		2,990,268			—
Total Increase (Decrease) in Net Assets		4,331,859			2,721,881			(5,532,279	)		2,693,641			—
Net Assets as of December 31, 2015:	$	25,212,890		$	19,534,129		$	10,292,784		$	20,942,222		$	—
Investment Income:
Reinvested Dividends		220,171			326,232			156,445			246,099			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		473,983			373,392			190,824			313,685			90
Net Investment Income (Loss)		(253,812	)		(47,160	)		(34,379	)		(67,586	)		(90	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,322,031			2,233,564			902,376			520,107			—
Realized Gain (Loss) on Investments		(1,450,959	)		(738,417	)		(490,412	)		90,994			1,249
Net Realized Capital Gains (Losses) on Investments		871,072			1,495,147			411,964			611,101			1,249
Net Change in Unrealized Appreciation (Depreciation)		1,070,821			300,772			(274,575	)		626,934			—
Net Gain (Loss) on Investment		1,941,893			1,795,919			137,389			1,238,035			1,249
Net Increase (Decrease) in Net Assets Resulting from Operations		1,688,081			1,748,759			103,010			1,170,449			1,159
Increase (Decrease) in Net Assets from Contract Transactions		3,873,899			2,737,824			1,080,055			(981,289	)		(1,159	)
Total Increase (Decrease) in Net Assets		5,561,980			4,486,583			1,183,065			189,160			—
Net Assets as of December 31, 2016:	$	30,774,870		$	24,020,712		$	11,475,849		$	21,131,382		$	—

See Accompanying Notes.

⁽¹⁾ See Footnote 1

6

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Fidelity® VIP Contrafund® Service Class 2 Subaccount			Fidelity® VIP Equity-Income Service Class 2 Subaccount			Fidelity® VIP Growth Service Class 2 Subaccount			Fidelity® VIP Growth Opportunities Service Class 2 Subaccount			Fidelity® VIP Mid Cap Initial Class Subaccount
Net Assets as of December 31, 2014:	$	34,518,197		$	1,054,722		$	830,866		$	1,872		$	—
Investment Income:
Reinvested Dividends		251,549			27,675			269			—			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		593,480			14,098			12,012			26			—
Net Investment Income (Loss)		(341,931	)		13,577			(11,743	)		(26	)		—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,353,034			96,257			26,045			189			—
Realized Gain (Loss) on Investments		2,118,899			20,175			21,627			41			—
Net Realized Capital Gains (Losses) on Investments		5,471,933			116,432			47,672			230			—
Net Change in Unrealized Appreciation (Depreciation)		(5,732,869	)		(180,400	)		8,383			(133	)		—
Net Gain (Loss) on Investment		(260,936	)		(63,968	)		56,055			97			—
Net Increase (Decrease) in Net Assets Resulting from Operations		(602,867	)		(50,391	)		44,312			71			—
Increase (Decrease) in Net Assets from Contract Transactions		(3,272,975	)		(122,486	)		(42,353	)		(63	)		—
Total Increase (Decrease) in Net Assets		(3,875,842	)		(172,877	)		1,959			8			—
Net Assets as of December 31, 2015:	$	30,642,355		$	881,845		$	832,825		$	1,880		$	—
Investment Income:
Reinvested Dividends		206,444			17,024			—			1			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		455,980			11,749			11,179			24			—
Net Investment Income (Loss)		(249,536	)		5,275			(11,179	)		(23	)		—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,327,767			57,662			77,139			35			—
Realized Gain (Loss) on Investments		(875,065	)		1,009			16,889			37			—
Net Realized Capital Gains (Losses) on Investments		1,452,702			58,671			94,028			72			—
Net Change in Unrealized Appreciation (Depreciation)		540,382			60,189			(91,012	)		(72	)		—
Net Gain (Loss) on Investment		1,993,084			118,860			3,016			—			—
Net Increase (Decrease) in Net Assets Resulting from Operations		1,743,548			124,135			(8,163	)		(23	)		—
Increase (Decrease) in Net Assets from Contract Transactions		2,114,979			(156,539	)		(39,507	)		(65	)		—
Total Increase (Decrease) in Net Assets		3,858,527			(32,404	)		(47,670	)		(88	)		—
Net Assets as of December 31, 2016:	$	34,500,882		$	849,441		$	785,155		$	1,792		$	—

See Accompanying Notes.

⁽¹⁾ See Footnote 1

7

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Fidelity® VIP Mid Cap Service Class 2 Subaccount			Fidelity® VIP Value Strategies Initial Class Subaccount			Fidelity® VIP Value Strategies Service Class 2 Subaccount			Franklin Founding Funds Allocation Class 4 Shares Subaccount			Franklin Income Class 2 Shares Subaccount
Net Assets as of December 31, 2014:	$	16,020,401		$	21,720		$	15,028,804		$	4,770,440		$	8,687,407
Investment Income:
Reinvested Dividends		65,716			259			89,649			117,369			187,774
Investment Expense:
Mortality and Expense Risk and Administrative Charges		376,058			144			156,324			68,079			64,054
Net Investment Income (Loss)		(310,342	)		115			(66,675	)		49,290			123,720
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,771,085			17			7,242			6,739			—
Realized Gain (Loss) on Investments		(205,874	)		17			1,337,316			5,257			444,910
Net Realized Capital Gains (Losses) on Investments		2,565,211			34			1,344,558			11,996			444,910
Net Change in Unrealized Appreciation (Depreciation)		(3,184,648	)		(934	)		(1,848,234	)		(365,945	)		(893,291	)
Net Gain (Loss) on Investment		(619,437	)		(900	)		(503,676	)		(353,949	)		(448,381	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(929,779	)		(785	)		(570,351	)		(304,659	)		(324,661	)
Increase (Decrease) in Net Assets from Contract Transactions		9,533,982			(4	)		(4,889,319	)		(802,596	)		(4,725,226	)
Total Increase (Decrease) in Net Assets		8,604,203			(789	)		(5,459,670	)		(1,107,255	)		(5,049,887	)
Net Assets as of December 31, 2015:	$	24,624,604		$	20,931		$	9,569,134		$	3,663,185		$	3,637,520
Investment Income:
Reinvested Dividends		83,431			245			93,150			133,347			172,814
Investment Expense:
Mortality and Expense Risk and Administrative Charges		371,541			136			143,369			57,525			51,432
Net Investment Income (Loss)		(288,110	)		109			(50,219	)		75,822			121,382
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		1,455,258			—			—			117,360			—
Realized Gain (Loss) on Investments		(1,149,146	)		9			(152,488	)		(46,728	)		(3,644	)
Net Realized Capital Gains (Losses) on Investments		306,112			9			(152,488	)		70,632			(3,644	)
Net Change in Unrealized Appreciation (Depreciation)		2,238,074			1,748			757,052			234,165			287,830
Net Gain (Loss) on Investment		2,544,186			1,757			604,564			304,797			284,186
Net Increase (Decrease) in Net Assets Resulting from Operations		2,256,076			1,866			554,345			380,619			405,568
Increase (Decrease) in Net Assets from Contract Transactions		1,099,536			(4	)		700,473			(349,545	)		(565,520	)
Total Increase (Decrease) in Net Assets		3,355,612			1,862			1,254,818			31,074			(159,952	)
Net Assets as of December 31, 2016:	$	27,980,216		$	22,793		$	10,823,952		$	3,694,259		$	3,477,568

See Accompanying Notes.

⁽¹⁾ See Footnote 1

8

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Franklin Mutual Shares Class 2 Shares Subaccount			Franklin Templeton Foreign Class 2 Shares Subaccount			Invesco V.I. American Franchise Series II Shares Subaccount			Invesco V.I. Value Opportunities Series II Shares Subaccount			Janus Aspen - Enterprise Service Shares Subaccount
Net Assets as of December 31, 2014:	$	882,965		$	2,186,589		$	181,411		$	407,212		$	294,150
Investment Income:
Reinvested Dividends		26,382			63,669			—			8,675			2,200
Investment Expense:
Mortality and Expense Risk and Administrative Charges		12,889			28,880			2,738			5,738			4,025
Net Investment Income (Loss)		13,493			34,789			(2,738	)		2,937			(1,825	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		58,209			65,030			1,010			28,505			31,538
Realized Gain (Loss) on Investments		15,645			47,847			1,816			8,585			10,103
Net Realized Capital Gains (Losses) on Investments		73,854			112,877			2,826			37,090			41,641
Net Change in Unrealized Appreciation (Depreciation)		(140,795	)		(280,565	)		5,696			(87,018	)		(32,907	)
Net Gain (Loss) on Investment		(66,941	)		(167,688	)		8,522			(49,928	)		8,734
Net Increase (Decrease) in Net Assets Resulting from Operations		(53,448	)		(132,899	)		5,784			(46,991	)		6,909
Increase (Decrease) in Net Assets from Contract Transactions		(34,175	)		(326,377	)		(2,648	)		(18,706	)		(25,259	)
Total Increase (Decrease) in Net Assets		(87,623	)		(459,276	)		3,136			(65,697	)		(18,350	)
Net Assets as of December 31, 2015:	$	795,342		$	1,727,313		$	184,547		$	341,515		$	275,800
Investment Income:
Reinvested Dividends		14,463			32,806			—			257			2,019
Investment Expense:
Mortality and Expense Risk and Administrative Charges		11,323			23,966			2,643			5,048			3,903
Net Investment Income (Loss)		3,140			8,840			(2,643	)		(4,791	)		(1,884	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		59,581			29,383			16,626			100,992			21,640
Realized Gain (Loss) on Investments		26,319			(5,345	)		1,282			3,679			5,632
Net Realized Capital Gains (Losses) on Investments		85,900			24,038			17,908			104,671			27,272
Net Change in Unrealized Appreciation (Depreciation)		12,513			57,724			(14,371	)		(47,626	)		3,390
Net Gain (Loss) on Investment		98,413			81,762			3,537			57,045			30,662
Net Increase (Decrease) in Net Assets Resulting from Operations		101,553			90,602			894			52,254			28,778
Increase (Decrease) in Net Assets from Contract Transactions		(121,268	)		(134,832	)		(1,456	)		(17,824	)		(13,685	)
Total Increase (Decrease) in Net Assets		(19,715	)		(44,230	)		(562	)		34,430			15,093
Net Assets as of December 31, 2016:	$	775,627		$	1,683,083		$	183,985		$	375,945		$	290,893

See Accompanying Notes.

⁽¹⁾ See Footnote 1

9

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Janus Aspen - Global Research Service Shares Subaccount			Janus Aspen - Perkins Mid Cap Value Service Shares Subaccount			JPMorgan Insurance Trust Core Bond Class 1 Shares Subaccount			JPMorgan Insurance Trust Mid Cap Value Class 1 Shares Subaccount			JPMorgan Insurance Trust Small Cap Core Class 1 Shares Subaccount
Net Assets as of December 31, 2014:	$	436,369		$	2,268		$	681,481		$	148,638		$	7,500
Investment Income:
Reinvested Dividends		2,305			22			24,345			1,464			11
Investment Expense:
Mortality and Expense Risk and Administrative Charges		6,607			30			9,494			1,901			102
Net Investment Income (Loss)		(4,302	)		(8	)		14,851			(437	)		(91	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			210			—			11,185			744
Realized Gain (Loss) on Investments		7,543			22			(4,080	)		1,118			131
Net Realized Capital Gains (Losses) on Investments		7,543			232			(4,080	)		12,303			875
Net Change in Unrealized Appreciation (Depreciation)		(19,669	)		(335	)		(12,605	)		(17,653	)		(1,267	)
Net Gain (Loss) on Investment		(12,126	)		(103	)		(16,685	)		(5,350	)		(392	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(16,428	)		(111	)		(1,834	)		(5,787	)		(483	)
Increase (Decrease) in Net Assets from Contract Transactions		(13,125	)		(74	)		(55,618	)		—			(140	)
Total Increase (Decrease) in Net Assets		(29,553	)		(185	)		(57,452	)		(5,787	)		(623	)
Net Assets as of December 31, 2015:	$	406,816		$	2,083		$	624,029		$	142,851		$	6,877
Investment Income:
Reinvested Dividends		3,699			19			15,180			1,288			36
Investment Expense:
Mortality and Expense Risk and Administrative Charges		5,838			29			8,121			1,912			95
Net Investment Income (Loss)		(2,139	)		(10	)		7,059			(624	)		(59	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			289			—			7,708			564
Realized Gain (Loss) on Investments		4,630			8			(3,880	)		1,086			118
Net Realized Capital Gains (Losses) on Investments		4,630			297			(3,880	)		8,794			682
Net Change in Unrealized Appreciation (Depreciation)		(2,078	)		56			2,863			10,746			645
Net Gain (Loss) on Investment		2,552			353			(1,017	)		19,540			1,327
Net Increase (Decrease) in Net Assets Resulting from Operations		413			343			6,042			18,916			1,268
Increase (Decrease) in Net Assets from Contract Transactions		(11,668	)		(70	)		(105,045	)		(2	)		(138	)
Total Increase (Decrease) in Net Assets		(11,255	)		273			(99,003	)		18,914			1,130
Net Assets as of December 31, 2016:	$	395,561		$	2,356		$	525,026		$	161,765		$	8,007

See Accompanying Notes.

⁽¹⁾ See Footnote 1

10

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	JPMorgan Insurance Trust U.S. Equity Class 1 Shares Subaccount			MFS® New Discovery Service Class Subaccount			MFS® Total Return Service Class Subaccount			State Street Total Return V.I.S. Class 3 Shares Subaccount			TA AB Dynamic Allocation Initial Class Subaccount
Net Assets as of December 31, 2014:	$	67,588		$	2,228,226		$	1,913,348		$	2,041,207		$	67,420
Investment Income:
Reinvested Dividends		758			—			44,168			29,359			862
Investment Expense:
Mortality and Expense Risk and Administrative Charges		881			29,862			25,741			31,540			941
Net Investment Income (Loss)		(123	)		(29,862	)		18,427			(2,181	)		(79	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,061			65,551			69,876			60,161			—
Realized Gain (Loss) on Investments		708			4,149			27,372			35,171			239
Net Realized Capital Gains (Losses) on Investments		3,769			69,700			97,248			95,332			239
Net Change in Unrealized Appreciation (Depreciation)		(3,938	)		(102,613	)		(150,921	)		(151,425	)		(1,149	)
Net Gain (Loss) on Investment		(169	)		(32,913	)		(53,673	)		(56,093	)		(910	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(292	)		(62,775	)		(35,246	)		(58,274	)		(989	)
Increase (Decrease) in Net Assets from Contract Transactions		(848	)		(346,005	)		(83,315	)		(133,821	)		(586	)
Total Increase (Decrease) in Net Assets		(1,140	)		(408,780	)		(118,561	)		(192,095	)		(1,575	)
Net Assets as of December 31, 2015:	$	66,448		$	1,819,446		$	1,794,787		$	1,849,112		$	65,845
Investment Income:
Reinvested Dividends		656			—			48,747			36,883			978
Investment Expense:
Mortality and Expense Risk and Administrative Charges		865			24,230			25,080			33,014			904
Net Investment Income (Loss)		(209	)		(24,230	)		23,667			3,869			74
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,328			78,224			60,179			42,758			—
Realized Gain (Loss) on Investments		694			(15,935	)		24,690			17,022			935
Net Realized Capital Gains (Losses) on Investments		3,022			62,289			84,869			59,780			935
Net Change in Unrealized Appreciation (Depreciation)		3,444			78,147			20,500			28,944			(542	)
Net Gain (Loss) on Investment		6,466			140,436			105,369			88,724			393
Net Increase (Decrease) in Net Assets Resulting from Operations		6,257			116,206			129,036			92,593			467
Increase (Decrease) in Net Assets from Contract Transactions		(897	)		(236,623	)		(99,585	)		372,214			(7,428	)
Total Increase (Decrease) in Net Assets		5,360			(120,417	)		29,451			464,807			(6,961	)
Net Assets as of December 31, 2016:	$	71,808		$	1,699,029		$	1,824,238		$	2,313,919		$	58,884

See Accompanying Notes.

⁽¹⁾ See Footnote 1

11

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA AB Dynamic Allocation Service Class Subaccount			TA Aegon Government Money Market Initial Class Subaccount			TA Aegon Government Money Market Service Class Subaccount			TA Aegon High Yield Bond Initial Class Subaccount			TA Aegon High Yield Bond Service Class Subaccount
Net Assets as of December 31, 2014:	$	20,046,123		$	172,527		$	63,067,404		$	155,404		$	5,933,436
Investment Income:
Reinvested Dividends		222,696			8			2,812			8,521			379,800
Investment Expense:
Mortality and Expense Risk and Administrative Charges		311,296			2,291			713,284			1,696			88,931
Net Investment Income (Loss)		(88,600	)		(2,283	)		(710,472	)		6,825			290,869
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—			—
Realized Gain (Loss) on Investments		325,101			—			—			2,488			(38,459	)
Net Realized Capital Gains (Losses) on Investments		325,101			—			—			2,488			(38,459	)
Net Change in Unrealized Appreciation (Depreciation)		(665,944	)		—			—			(15,750	)		(608,659	)
Net Gain (Loss) on Investment		(340,843	)		—			—			(13,262	)		(647,118	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(429,443	)		(2,283	)		(710,472	)		(6,437	)		(356,249	)
Increase (Decrease) in Net Assets from Contract Transactions		1,448,269			(26,707	)		(14,794,488	)		(28,890	)		327,552
Total Increase (Decrease) in Net Assets		1,018,826			(28,990	)		(15,504,960	)		(35,327	)		(28,697	)
Net Assets as of December 31, 2015:	$	21,064,949		$	143,537		$	47,562,444		$	120,077		$	5,904,739
Investment Income:
Reinvested Dividends		265,263			9			2,299			6,073			333,989
Investment Expense:
Mortality and Expense Risk and Administrative Charges		304,121			2,162			605,563			1,209			83,077
Net Investment Income (Loss)		(38,858	)		(2,153	)		(603,264	)		4,864			250,912
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—			—
Realized Gain (Loss) on Investments		256,565			—			—			(1,072	)		(173,616	)
Net Realized Capital Gains (Losses) on Investments		256,565			—			—			(1,072	)		(173,616	)
Net Change in Unrealized Appreciation (Depreciation)		(132,762	)		—			—			9,136			626,208
Net Gain (Loss) on Investment		123,803			—			—			8,064			452,592
Net Increase (Decrease) in Net Assets Resulting from Operations		84,945			(2,153	)		(603,264	)		12,928			703,504
Increase (Decrease) in Net Assets from Contract Transactions		1,139,388			(63,135	)		(10,551,001	)		(34,488	)		32,892
Total Increase (Decrease) in Net Assets		1,224,333			(65,288	)		(11,154,265	)		(21,560	)		736,396
Net Assets as of December 31, 2016:	$	22,289,282		$	78,249		$	36,408,179		$	98,517		$	6,641,135

See Accompanying Notes.

⁽¹⁾ See Footnote 1

12

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Aegon U.S. Government Securities Initial Class Subaccount			TA Aegon U.S. Government Securities Service Class Subaccount			TA American Funds Managed Risk - Balanced Service Class Subaccount(1)			TA Asset Allocation - Conservative Initial Class Subaccount			TA Asset Allocation - Conservative Service Class Subaccount
Net Assets as of December 31, 2014:	$	371,973		$	32,526,271		$	—		$	59,352		$	61,576,298
Investment Income:
Reinvested Dividends		7,797			622,100			—			1,326			1,298,658
Investment Expense:
Mortality and Expense Risk and Administrative Charges		4,887			626,485			38,397			696			882,150
Net Investment Income (Loss)		2,910			(4,385	)		(38,397	)		630			416,508
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		1,818			166,344			—			2,354			2,605,565
Realized Gain (Loss) on Investments		(1,060	)		(319,256	)		(9,098	)		(1,407	)		158,894
Net Realized Capital Gains (Losses) on Investments		758			(152,912	)		(9,098	)		947			2,764,459
Net Change in Unrealized Appreciation (Depreciation)		(7,798	)		(864,897	)		(38,943	)		(3,042	)		(5,507,058	)
Net Gain (Loss) on Investment		(7,040	)		(1,017,809	)		(48,041	)		(2,095	)		(2,742,599	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,130	)		(1,022,194	)		(86,438	)		(1,465	)		(2,326,091	)
Increase (Decrease) in Net Assets from Contract Transactions		(60,625	)		39,275,442			9,405,678			(42,340	)		5,174,555
Total Increase (Decrease) in Net Assets		(64,755	)		38,253,248			9,319,240			(43,805	)		2,848,464
Net Assets as of December 31, 2015:	$	307,218		$	70,779,519		$	9,319,240		$	15,547		$	64,424,762
Investment Income:
Reinvested Dividends		2,845			360,017			106,786			321			1,109,879
Investment Expense:
Mortality and Expense Risk and Administrative Charges		4,486			1,190,019			234,222			219			845,039
Net Investment Income (Loss)		(1,641	)		(830,002	)		(127,436	)		102			264,840
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			350			1,386,297
Realized Gain (Loss) on Investments		(5,344	)		500,995			43,016			(8	)		(778,203	)
Net Realized Capital Gains (Losses) on Investments		(5,344	)		500,995			43,016			342			608,094
Net Change in Unrealized Appreciation (Depreciation)		(629	)		(443,504	)		1,094,835			50			880,028
Net Gain (Loss) on Investment		(5,973	)		57,491			1,137,851			392			1,488,122
Net Increase (Decrease) in Net Assets Resulting from Operations		(7,614	)		(772,511	)		1,010,415			494			1,752,962
Increase (Decrease) in Net Assets from Contract Transactions		(47,625	)		2,390,570			16,459,541			1			(5,612,322	)
Total Increase (Decrease) in Net Assets		(55,239	)		1,618,059			17,469,956			495			(3,859,360	)
Net Assets as of December 31, 2016:	$	251,979		$	72,397,578		$	26,789,196		$	16,042		$	60,565,402

See Accompanying Notes.

⁽¹⁾ See Footnote 1

13

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Asset Allocation - Growth Initial Class Subaccount			TA Asset Allocation - Growth Service Class Subaccount			TA Asset Allocation - Moderate Initial Class Subaccount			TA Asset Allocation - Moderate Service Class Subaccount			TA Asset Allocation - Moderate Growth Initial Class Subaccount
Net Assets as of December 31, 2014:	$	147,420		$	6,835,481		$	892,285		$	289,657,459		$	337,554
Investment Income:
Reinvested Dividends		2,465			101,820			17,755			5,358,441			6,062
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,074			98,250			12,120			4,005,992			3,529
Net Investment Income (Loss)		391			3,570			5,635			1,352,449			2,533
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			30,026			10,168,098			4,523
Realized Gain (Loss) on Investments		481			219,548			6,914			3,049,283			6,401
Net Realized Capital Gains (Losses) on Investments		481			219,548			36,940			13,217,381			10,924
Net Change in Unrealized Appreciation (Depreciation)		(5,677	)		(519,081	)		(73,259	)		(25,805,067	)		(23,222	)
Net Gain (Loss) on Investment		(5,196	)		(299,533	)		(36,319	)		(12,587,686	)		(12,298	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,805	)		(295,963	)		(30,684	)		(11,235,237	)		(9,765	)
Increase (Decrease) in Net Assets from Contract Transactions		(1,158	)		248,295			(54,588	)		1,176,969			(65,800	)
Total Increase (Decrease) in Net Assets		(5,963	)		(47,668	)		(85,272	)		(10,058,268	)		(75,565	)
Net Assets as of December 31, 2015:	$	141,457		$	6,787,813		$	807,013		$	279,599,191		$	261,989
Investment Income:
Reinvested Dividends		1,190			133,450			19,510			5,408,591			7,619
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,307			94,824			11,632			3,789,249			4,686
Net Investment Income (Loss)		(117	)		38,626			7,878			1,619,342			2,933
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			22,232			7,018,580			20,492
Realized Gain (Loss) on Investments		12,019			86,077			1,311			752,718			14
Net Realized Capital Gains (Losses) on Investments		12,019			86,077			23,543			7,771,298			20,506
Net Change in Unrealized Appreciation (Depreciation)		(7,958	)		101,098			1,356			989,617			3,429
Net Gain (Loss) on Investment		4,061			187,175			24,899			8,760,915			23,935
Net Increase (Decrease) in Net Assets Resulting from Operations		3,944			225,801			32,777			10,380,257			26,868
Increase (Decrease) in Net Assets from Contract Transactions		(90,035	)		531,533			63,889			(8,210,994	)		98,322
Total Increase (Decrease) in Net Assets		(86,091	)		757,334			96,666			2,169,263			125,190
Net Assets as of December 31, 2016:	$	55,366		$	7,545,147		$	903,679		$	281,768,454		$	387,179

See Accompanying Notes.

⁽¹⁾ See Footnote 1

14

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Asset Allocation - Moderate Growth Service Class Subaccount			TA Barrow Hanley Dividend Focused Initial Class Subaccount			TA Barrow Hanley Dividend Focused Service Class Subaccount			TA BlackRock Equity Smart Beta 100 Service Class Subaccount(1)			TA BlackRock Global Allocation Service Class Subaccount
Net Assets as of December 31, 2014:	$	151,210,658		$	3,844,650		$	6,012,268		$	—		$	56,800,395
Investment Income:
Reinvested Dividends		3,125,731			66,656			117,973			—			987,881
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,245,913			48,083			111,423			—			804,374
Net Investment Income (Loss)		879,818			18,573			6,550			—			183,507
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,633,946			—			—			—			5,079,584
Realized Gain (Loss) on Investments		3,694,017			162,592			162,416			—			26,781
Net Realized Capital Gains (Losses) on Investments		6,327,963			162,592			162,416			—			5,106,365
Net Change in Unrealized Appreciation (Depreciation)		(13,540,534	)		(356,685	)		(653,357	)		—			(6,852,441	)
Net Gain (Loss) on Investment		(7,212,571	)		(194,093	)		(490,941	)		—			(1,746,076	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(6,332,753	)		(175,520	)		(484,391	)		—			(1,562,569	)
Increase (Decrease) in Net Assets from Contract Transactions		8,526,000			(399,062	)		6,953,163			—			1,143,502
Total Increase (Decrease) in Net Assets		2,193,247			(574,582	)		6,468,772			—			(419,067	)
Net Assets as of December 31, 2015:	$	153,403,905		$	3,270,068		$	12,481,040		$	—		$	56,381,328
Investment Income:
Reinvested Dividends		2,768,033			61,862			327,465			—			224,629
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,204,955			40,951			219,242			2,810			817,031
Net Investment Income (Loss)		563,078			20,911			108,223			(2,810	)		(592,402	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		8,580,519			—			—			—			347,991
Realized Gain (Loss) on Investments		1,729,850			228,128			249,583			(248	)		(606,240	)
Net Realized Capital Gains (Losses) on Investments		10,310,369			228,128			249,583			(248	)		(258,249	)
Net Change in Unrealized Appreciation (Depreciation)		(3,625,948	)		126,672			1,509,558			16,689			2,756,356
Net Gain (Loss) on Investment		6,684,421			354,800			1,759,141			16,441			2,498,107
Net Increase (Decrease) in Net Assets Resulting from Operations		7,247,499			375,711			1,867,364			13,631			1,905,705
Increase (Decrease) in Net Assets from Contract Transactions		1,705,525			(613,102	)		5,214,936			1,112,817			3,768,486
Total Increase (Decrease) in Net Assets		8,953,024			(237,391	)		7,082,300			1,126,448			5,674,191
Net Assets as of December 31, 2016:	$	162,356,929		$	3,032,677		$	19,563,340		$	1,126,448		$	62,055,519

See Accompanying Notes.

⁽¹⁾ See Footnote 1

15

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA BlackRock Global Allocation Managed Risk - Balanced Service Class Subaccount(1)			TA BlackRock Global Allocation Managed Risk - Growth Service Class Subaccount(1)			TA BlackRock Smart Beta 50 Service Class Subaccount(1)			TA BlackRock Smart Beta 75 Service Class Subaccount(1)			TA BlackRock Tactical Allocation Service Class Subaccount
Net Assets as of December 31, 2014:	$	—		$	—		$	—		$	—		$	87,586,850
Investment Income:
Reinvested Dividends		—			—			—			—			1,659,445
Investment Expense:
Mortality and Expense Risk and Administrative Charges		15,832			22,772			—			—			1,319,899
Net Investment Income (Loss)		(15,832	)		(22,772	)		—			—			339,546
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—			4,710,084
Realized Gain (Loss) on Investments		(8,185	)		(6,479	)		—			—			638,820
Net Realized Capital Gains (Losses) on Investments		(8,185	)		(6,479	)		—			—			5,348,904
Net Change in Unrealized Appreciation (Depreciation)		(108,655	)		(207,978	)		—			—			(7,295,947	)
Net Gain (Loss) on Investment		(116,840	)		(214,457	)		—			—			(1,947,043	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(132,672	)		(237,229	)		—			—			(1,607,497	)
Increase (Decrease) in Net Assets from Contract Transactions		3,426,770			4,782,538			—			—			8,404,231
Total Increase (Decrease) in Net Assets		3,294,098			4,545,309			—			—			6,796,734
Net Assets as of December 31, 2015:	$	3,294,098		$	4,545,309		$	—		$	—		$	94,383,584
Investment Income:
Reinvested Dividends		123,821			140,635			—			—			2,269,074
Investment Expense:
Mortality and Expense Risk and Administrative Charges		83,706			81,493			10,512			6,230			1,371,126
Net Investment Income (Loss)		40,115			59,142			(10,512	)		(6,230	)		897,948
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		412,737			394,030			—			—			3,301,868
Realized Gain (Loss) on Investments		(94,426	)		(152,193	)		(927	)		31			112,430
Net Realized Capital Gains (Losses) on Investments		318,311			241,837			(927	)		31			3,414,298
Net Change in Unrealized Appreciation (Depreciation)		(355,670	)		(341,501	)		(13,804	)		5,799			(964,853	)
Net Gain (Loss) on Investment		(37,359	)		(99,664	)		(14,731	)		5,830			2,449,445
Net Increase (Decrease) in Net Assets Resulting from Operations		2,756			(40,522	)		(25,243	)		(400	)		3,347,393
Increase (Decrease) in Net Assets from Contract Transactions		3,906,565			2,810,895			3,542,049			834,226			2,826,438
Total Increase (Decrease) in Net Assets		3,909,321			2,770,373			3,516,806			833,826			6,173,831
Net Assets as of December 31, 2016:	$	7,203,419		$	7,315,682		$	3,516,806		$	833,826		$	100,557,415

See Accompanying Notes.

⁽¹⁾ See Footnote 1

16

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Clarion Global Real Estate Securities Initial Class Subaccount			TA Clarion Global Real Estate Securities Service Class Subaccount			TA International Moderate Growth Service Class Subaccount			TA Janus Balanced Service Class Subaccount			TA Janus Mid-Cap Growth Initial Class Subaccount
Net Assets as of December 31, 2014:	$	38,903		$	5,463,539		$	35,391,209		$	35,378,527		$	41,630
Investment Income:
Reinvested Dividends		1,059			249,927			756,047			362,586			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		431			91,559			604,194			622,207			601
Net Investment Income (Loss)		628			158,368			151,853			(259,621	)		(601	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			1,108,051			7,107
Realized Gain (Loss) on Investments		(1,905	)		116,885			440,491			541,617			1,728
Net Realized Capital Gains (Losses) on Investments		(1,905	)		116,885			440,491			1,649,668			8,835
Net Change in Unrealized Appreciation (Depreciation)		709			(467,508	)		(2,350,691	)		(2,054,308	)		(11,330	)
Net Gain (Loss) on Investment		(1,196	)		(350,623	)		(1,910,200	)		(404,640	)		(2,495	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(568	)		(192,255	)		(1,758,347	)		(664,261	)		(3,096	)
Increase (Decrease) in Net Assets from Contract Transactions		(15,002	)		557,911			9,461,489			16,002,515			(5,089	)
Total Increase (Decrease) in Net Assets		(15,570	)		365,656			7,703,142			15,338,254			(8,185	)
Net Assets as of December 31, 2015:	$	23,333		$	5,829,195		$	43,094,351		$	50,716,781		$	33,445
Investment Income:
Reinvested Dividends		418			83,047			800,130			631,535			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		328			88,308			610,021			817,992			573
Net Investment Income (Loss)		90			(5,261	)		190,109			(186,457	)		(573	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			524,526			3,921
Realized Gain (Loss) on Investments		(267	)		(64	)		(67,381	)		621,735			20
Net Realized Capital Gains (Losses) on Investments		(267	)		(64	)		(67,381	)		1,146,261			3,941
Net Change in Unrealized Appreciation (Depreciation)		(19	)		(104,434	)		(267,183	)		836,656			(4,655	)
Net Gain (Loss) on Investment		(286	)		(104,498	)		(334,564	)		1,982,917			(714	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(196	)		(109,759	)		(144,455	)		1,796,460			(1,287	)
Increase (Decrease) in Net Assets from Contract Transactions		(1,100	)		2,018			(1,450,692	)		14,170,752			15,722
Total Increase (Decrease) in Net Assets		(1,296	)		(107,741	)		(1,595,147	)		15,967,212			14,435
Net Assets as of December 31, 2016:	$	22,037		$	5,721,454		$	41,499,204		$	66,683,993		$	47,880

See Accompanying Notes.

⁽¹⁾ See Footnote 1

17

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Janus Mid-Cap Growth Service Class Subaccount			TA Jennison Growth Initial Class Subaccount			TA Jennison Growth Service Class Subaccount			TA JPMorgan Core Bond Service Class Subaccount			TA JPMorgan Enhanced Index Initial Class Subaccount
Net Assets as of December 31, 2014:	$	4,158,692		$	2,074,564		$	12,818,115		$	15,198,187		$	655,455
Investment Income:
Reinvested Dividends		—			—			—			345,165			6,256
Investment Expense:
Mortality and Expense Risk and Administrative Charges		60,885			28,346			220,779			267,775			8,538
Net Investment Income (Loss)		(60,885	)		(28,346	)		(220,779	)		77,390			(2,282	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		641,643			156,944			1,131,981			—			46,368
Realized Gain (Loss) on Investments		(84,275	)		109,625			273,093			2,690			27,292
Net Realized Capital Gains (Losses) on Investments		557,368			266,569			1,405,074			2,690			73,660
Net Change in Unrealized Appreciation (Depreciation)		(779,835	)		(46,998	)		4,960			(323,994	)		(79,783	)
Net Gain (Loss) on Investment		(222,467	)		219,571			1,410,034			(321,304	)		(6,123	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(283,352	)		191,225			1,189,255			(243,914	)		(8,405	)
Increase (Decrease) in Net Assets from Contract Transactions		(53,433	)		(264,192	)		4,655,615			5,158,300			(13,001	)
Total Increase (Decrease) in Net Assets		(336,785	)		(72,967	)		5,844,870			4,914,386			(21,406	)
Net Assets as of December 31, 2015:	$	3,821,907		$	2,001,597		$	18,662,985		$	20,112,573		$	634,049
Investment Income:
Reinvested Dividends		—			—			—			472,747			2,424
Investment Expense:
Mortality and Expense Risk and Administrative Charges		50,185			22,059			242,561			356,405			7,906
Net Investment Income (Loss)		(50,185	)		(22,059	)		(242,561	)		116,342			(5,482	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		333,048			257,979			2,645,528			—			13,251
Realized Gain (Loss) on Investments		(282,403	)		124,710			238,186			58,434			29,316
Net Realized Capital Gains (Losses) on Investments		50,645			382,689			2,883,714			58,434			42,567
Net Change in Unrealized Appreciation (Depreciation)		(149,818	)		(447,554	)		(3,346,286	)		(225,767	)		23,374
Net Gain (Loss) on Investment		(99,173	)		(64,865	)		(462,572	)		(167,333	)		65,941
Net Increase (Decrease) in Net Assets Resulting from Operations		(149,358	)		(86,924	)		(705,133	)		(50,991	)		60,459
Increase (Decrease) in Net Assets from Contract Transactions		(110,398	)		(492,403	)		(1,802,023	)		7,609,613			(83,649	)
Total Increase (Decrease) in Net Assets		(259,756	)		(579,327	)		(2,507,156	)		7,558,622			(23,190	)
Net Assets as of December 31, 2016:	$	3,562,151		$	1,422,270		$	16,155,829		$	27,671,195		$	610,859

See Accompanying Notes.

⁽¹⁾ See Footnote 1

18

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA JPMorgan Enhanced Index Service Class Subaccount			TA JPMorgan Mid Cap Value Service Class Subaccount			TA JPMorgan Tactical Allocation Service Class Subaccount			TA Legg Mason Dynamic Allocation - Balanced Service Class Subaccount			TA Legg Mason Dynamic Allocation - Growth Service Class Subaccount
Net Assets as of December 31, 2014:	$	2,099,233		$	20,447,452		$	51,151,249		$	57,286,673		$	41,526,468
Investment Income:
Reinvested Dividends		16,741			158,916			704,189			703,135			402,151
Investment Expense:
Mortality and Expense Risk and Administrative Charges		34,674			329,397			856,170			1,028,431			810,857
Net Investment Income (Loss)		(17,933	)		(170,481	)		(151,981	)		(325,296	)		(408,706	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		148,773			1,424,195			—			—			—
Realized Gain (Loss) on Investments		37,560			410,750			375,437			548,329			494,733
Net Realized Capital Gains (Losses) on Investments		186,333			1,834,945			375,437			548,329			494,733
Net Change in Unrealized Appreciation (Depreciation)		(209,675	)		(2,743,920	)		(1,498,341	)		(3,269,466	)		(3,082,378	)
Net Gain (Loss) on Investment		(23,342	)		(908,975	)		(1,122,904	)		(2,721,137	)		(2,587,645	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(41,275	)		(1,079,456	)		(1,274,885	)		(3,046,433	)		(2,996,351	)
Increase (Decrease) in Net Assets from Contract Transactions		(79,190	)		1,435,904			20,590,178			39,248,630			28,039,568
Total Increase (Decrease) in Net Assets		(120,465	)		356,448			19,315,293			36,202,197			25,043,217
Net Assets as of December 31, 2015:	$	1,978,768		$	20,803,900		$	70,466,542		$	93,488,870		$	66,569,685
Investment Income:
Reinvested Dividends		3,275			413,614			907,207			1,092,043			657,965
Investment Expense:
Mortality and Expense Risk and Administrative Charges		32,417			336,001			1,055,680			1,323,962			917,345
Net Investment Income (Loss)		(29,142	)		77,613			(148,473	)		(231,919	)		(259,380	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		41,134			3,459,483			—			2,143,253			1,208,606
Realized Gain (Loss) on Investments		(61,974	)		(11,832	)		607,905			780,360			180,464
Net Realized Capital Gains (Losses) on Investments		(20,840	)		3,447,651			607,905			2,923,613			1,389,070
Net Change in Unrealized Appreciation (Depreciation)		208,563			(1,084,278	)		1,526,683			(4,675,958	)		(2,634,950	)
Net Gain (Loss) on Investment		187,723			2,363,373			2,134,588			(1,752,345	)		(1,245,880	)
Net Increase (Decrease) in Net Assets Resulting from Operations		158,581			2,440,986			1,986,115			(1,984,264	)		(1,505,260	)
Increase (Decrease) in Net Assets from Contract Transactions		2,282,556			3,010,182			11,372,524			4,988,286			(2,400,133	)
Total Increase (Decrease) in Net Assets		2,441,137			5,451,168			13,358,639			3,004,022			(3,905,393	)
Net Assets as of December 31, 2016:	$	4,419,905		$	26,255,068		$	83,825,181		$	96,492,892		$	62,664,292

See Accompanying Notes.

⁽¹⁾ See Footnote 1

19

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Managed Risk - Balanced ETF Service Class Subaccount			TA Managed Risk - Conservative ETF Service Class Subaccount			TA Managed Risk - Growth ETF Service Class Subaccount			TA Market Participation Strategy Service Class Subaccount			TA MFS International Equity Initial Class Subaccount
Net Assets as of December 31, 2014:	$	342,152,293		$	77,921,336		$	326,832,308		$	27,861,249		$	67,563
Investment Income:
Reinvested Dividends		5,242,969			1,246,724			5,073,662			—			1,202
Investment Expense:
Mortality and Expense Risk and Administrative Charges		5,405,020			1,108,435			4,752,037			429,582			1,043
Net Investment Income (Loss)		(162,051	)		138,289			321,625			(429,582	)		159
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		16,508,025			3,644,996			29,622,051			1,125,205			—
Realized Gain (Loss) on Investments		1,181,642			354,232			(1,285,033	)		219,996			426
Net Realized Capital Gains (Losses) on Investments		17,689,667			3,999,228			28,337,018			1,345,201			426
Net Change in Unrealized Appreciation (Depreciation)		(31,326,611	)		(5,916,693	)		(46,304,125	)		(2,382,994	)		(1,785	)
Net Gain (Loss) on Investment		(13,636,944	)		(1,917,465	)		(17,967,107	)		(1,037,793	)		(1,359	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(13,798,995	)		(1,779,176	)		(17,645,482	)		(1,467,375	)		(1,200	)
Increase (Decrease) in Net Assets from Contract Transactions		103,681,501			9,958,437			30,033,950			4,870,338			6,419
Total Increase (Decrease) in Net Assets		89,882,506			8,179,261			12,388,468			3,402,963			5,219
Net Assets as of December 31, 2015:	$	432,034,799		$	86,100,597		$	339,220,776		$	31,264,212		$	72,782
Investment Income:
Reinvested Dividends		7,211,461			1,460,997			5,762,053			53,545			987
Investment Expense:
Mortality and Expense Risk and Administrative Charges		5,792,729			1,197,305			4,738,438			455,775			890
Net Investment Income (Loss)		1,418,732			263,692			1,023,615			(402,230	)		97
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,538,812			817,693			—			486,666			494
Realized Gain (Loss) on Investments		(879,475	)		(288,710	)		(6,911,530	)		327,435			874
Net Realized Capital Gains (Losses) on Investments		2,659,337			528,983			(6,911,530	)		814,101			1,368
Net Change in Unrealized Appreciation (Depreciation)		6,123,019			1,498,255			17,091,208			418,432			(2,376	)
Net Gain (Loss) on Investment		8,782,356			2,027,238			10,179,678			1,232,533			(1,008	)
Net Increase (Decrease) in Net Assets Resulting from Operations		10,201,088			2,290,930			11,203,293			830,303			(911	)
Increase (Decrease) in Net Assets from Contract Transactions		(3,939,415	)		(25,039	)		3,928,398			2,045,765			(10,035	)
Total Increase (Decrease) in Net Assets		6,261,673			2,265,891			15,131,691			2,876,068			(10,946	)
Net Assets as of December 31, 2016:	$	438,296,472		$	88,366,488		$	354,352,467		$	34,140,280		$	61,836

See Accompanying Notes.

⁽¹⁾ See Footnote 1

20

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA MFS International Equity Service Class Subaccount			TA Morgan Stanley Capital Growth Initial Class Subaccount			TA Morgan Stanley Capital Growth Service Class Subaccount			TA Multi- Managed Balanced Initial Class Subaccount			TA Multi- Managed Balanced Service Class Subaccount
Net Assets as of December 31, 2014:	$	3,695,090		$	70,381		$	1,461,885		$	50,777		$	10,150,180
Investment Income:
Reinvested Dividends		70,908			—			—			698			133,023
Investment Expense:
Mortality and Expense Risk and Administrative Charges		84,190			1,102			29,065			706			153,348
Net Investment Income (Loss)		(13,282	)		(1,102	)		(29,065	)		(8	)		(20,325	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			6,473			185,828			2,438			540,316
Realized Gain (Loss) on Investments		20,254			11,108			121,802			86			90,446
Net Realized Capital Gains (Losses) on Investments		20,254			17,581			307,630			2,524			630,762
Net Change in Unrealized Appreciation (Depreciation)		(388,580	)		(9,338	)		(154,884	)		(3,110	)		(803,048	)
Net Gain (Loss) on Investment		(368,326	)		8,243			152,746			(586	)		(172,286	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(381,608	)		7,141			123,681			(594	)		(192,611	)
Increase (Decrease) in Net Assets from Contract Transactions		9,075,134			3,523			594,807			1			3,638,762
Total Increase (Decrease) in Net Assets		8,693,526			10,664			718,488			(593	)		3,446,151
Net Assets as of December 31, 2015:	$	12,388,616		$	81,045		$	2,180,373		$	50,184		$	13,596,331
Investment Income:
Reinvested Dividends		168,827			—			—			756			401,542
Investment Expense:
Mortality and Expense Risk and Administrative Charges		187,110			975			32,390			886			531,979
Net Investment Income (Loss)		(18,283	)		(975	)		(32,390	)		(130	)		(130,437	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		98,441			9,580			330,356			2,561			1,562,177
Realized Gain (Loss) on Investments		(224,369	)		4,833			(67,197	)		4,277			30,169
Net Realized Capital Gains (Losses) on Investments		(125,928	)		14,413			263,159			6,838			1,592,346
Net Change in Unrealized Appreciation (Depreciation)		(74,650	)		(17,533	)		(359,825	)		(2,860	)		1,158,320
Net Gain (Loss) on Investment		(200,578	)		(3,120	)		(96,666	)		3,978			2,750,666
Net Increase (Decrease) in Net Assets Resulting from Operations		(218,861	)		(4,095	)		(129,056	)		3,848			2,620,229
Increase (Decrease) in Net Assets from Contract Transactions		1,175,645			(13,251	)		1,658,408			(26,257	)		67,189,083
Total Increase (Decrease) in Net Assets		956,784			(17,346	)		1,529,352			(22,409	)		69,809,312
Net Assets as of December 31, 2016:	$	13,345,400		$	63,699		$	3,709,725		$	27,775		$	83,405,643

See Accompanying Notes.

⁽¹⁾ See Footnote 1

21

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA Multi- Manager Alternative Strategies Service Class Subaccount			TA PIMCO Tactical - Balanced Service Class Subaccount			TA PIMCO Tactical - Conservative Service Class Subaccount			TA PIMCO Tactical - Growth Service Class Subaccount			TA PIMCO Total Return Initial Class Subaccount
Net Assets as of December 31, 2014:	$	30,031		$	30,107,695		$	10,002,783		$	15,981,612		$	390,765
Investment Income:
Reinvested Dividends		288			—			47,589			—			8,480
Investment Expense:
Mortality and Expense Risk and Administrative Charges		761			443,100			209,552			300,406			4,413
Net Investment Income (Loss)		(473	)		(443,100	)		(161,963	)		(300,406	)		4,067
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		651			1,109,594			380,861			517,123			8,040
Realized Gain (Loss) on Investments		30			140,862			34,919			146,428			1,860
Net Realized Capital Gains (Losses) on Investments		681			1,250,456			415,780			663,551			9,900
Net Change in Unrealized Appreciation (Depreciation)		(7,298	)		(2,142,538	)		(910,472	)		(1,625,569	)		(14,905	)
Net Gain (Loss) on Investment		(6,617	)		(892,082	)		(494,692	)		(962,018	)		(5,005	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(7,090	)		(1,335,182	)		(656,655	)		(1,262,424	)		(938	)
Increase (Decrease) in Net Assets from Contract Transactions		113,473			3,608,785			7,144,462			13,767,540			(97,419	)
Total Increase (Decrease) in Net Assets		106,383			2,273,603			6,487,807			12,505,116			(98,357	)
Net Assets as of December 31, 2015:	$	136,414		$	32,381,298		$	16,490,590		$	28,486,728		$	292,408
Investment Income:
Reinvested Dividends		4,882			101,856			88,757			—			11,550
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,848			481,795			271,697			399,321			4,909
Net Investment Income (Loss)		3,034			(379,939	)		(182,940	)		(399,321	)		6,641
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			—			—			383
Realized Gain (Loss) on Investments		(380	)		220,864			115,584			(6,331	)		(9,219	)
Net Realized Capital Gains (Losses) on Investments		(380	)		220,864			115,584			(6,331	)		(8,836	)
Net Change in Unrealized Appreciation (Depreciation)		(869	)		1,522,052			617,626			1,482,806			2,041
Net Gain (Loss) on Investment		(1,249	)		1,742,916			733,210			1,476,475			(6,795	)
Net Increase (Decrease) in Net Assets Resulting from Operations		1,785			1,362,977			550,270			1,077,154			(154	)
Increase (Decrease) in Net Assets from Contract Transactions		73,860			3,774,489			7,053,964			973,395			(12,519	)
Total Increase (Decrease) in Net Assets		75,645			5,137,466			7,604,234			2,050,549			(12,673	)
Net Assets as of December 31, 2016:	$	212,059		$	37,518,764		$	24,094,824		$	30,537,277		$	279,735

See Accompanying Notes.

⁽¹⁾ See Footnote 1

22

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA PIMCO Total Return Service Class Subaccount			TA PineBridge Inflation Opportunities Service Class Subaccount			TA ProFunds UltraBear Service Class (OAM) Subaccount			TA QS Investors Active Asset Allocation - Conservative Service Class Subaccount
Net Assets as of December 31, 2014:	$	68,015,822		$	14,671,181		$	390,086		$	24,423,931
Investment Income:
Reinvested Dividends		1,871,781			186,170			—			262,200
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,019,279			214,568			9,282			349,065
Net Investment Income (Loss)		852,502			(28,398	)		(9,282	)		(86,865	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		1,953,000			—			—			759,205
Realized Gain (Loss) on Investments		(315,564	)		(224,681	)		(138,423	)		18,240
Net Realized Capital Gains (Losses) on Investments		1,637,436			(224,681	)		(138,423	)		777,445
Net Change in Unrealized Appreciation (Depreciation)		(3,216,589	)		(391,511	)		(32,361	)		(1,694,777	)
Net Gain (Loss) on Investment		(1,579,153	)		(616,192	)		(170,784	)		(917,332	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(726,651	)		(644,590	)		(180,066	)		(1,004,197	)
Increase (Decrease) in Net Assets from Contract Transactions		4,139,297			33,602			912,242			3,190,370
Total Increase (Decrease) in Net Assets		3,412,646			(610,988	)		732,176			2,186,173
Net Assets as of December 31, 2015:	$	71,428,468		$	14,060,193		$	1,122,262		$	26,610,104
Investment Income:
Reinvested Dividends		1,645,596			86,131			—			331,133
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,048,236			207,241			21,978			342,821
Net Investment Income (Loss)		597,360			(121,110	)		(21,978	)		(11,688	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		60,752			—			—			—
Realized Gain (Loss) on Investments		(500,165	)		(193,944	)		(400,055	)		(229,674	)
Net Realized Capital Gains (Losses) on Investments		(439,413	)		(193,944	)		(400,055	)		(229,674	)
Net Change in Unrealized Appreciation (Depreciation)		498,413			633,805			(199,203	)		558,788
Net Gain (Loss) on Investment		59,000			439,861			(599,258	)		329,114
Net Increase (Decrease) in Net Assets Resulting from Operations		656,360			318,751			(621,236	)		317,426
Increase (Decrease) in Net Assets from Contract Transactions		4,784,997			222,177			638,141			(1,801,761	)
Total Increase (Decrease) in Net Assets		5,441,357			540,928			16,905			(1,484,335	)
Net Assets as of December 31, 2016:	$	76,869,825		$	14,601,121		$	1,139,167		$	25,125,769

See Accompanying Notes.

⁽¹⁾ See Footnote 1

23

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA QS Investors Active Asset Allocation - Moderate Service Class Subaccount			TA QS Investors Active Asset Allocation - Moderate Growth Service Class Subaccount			TA Small/Mid Cap Value Initial Class Subaccount			TA Small/ Mid Cap Value Service Class Subaccount
Net Assets as of December 31, 2014:	$	95,420,430		$	55,073,814		$	3,330,797		$	7,605,510
Investment Income:
Reinvested Dividends		963,792			604,444			34,066			68,366
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,323,822			821,203			44,361			125,297
Net Investment Income (Loss)		(360,030	)		(216,759	)		(10,295	)		(56,931	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,995,594			3,512,625			388,756			1,026,065
Realized Gain (Loss) on Investments		180,982			(28,979	)		52,290			(9,861	)
Net Realized Capital Gains (Losses) on Investments		4,176,576			3,483,646			441,046			1,016,204
Net Change in Unrealized Appreciation (Depreciation)		(9,502,327	)		(8,264,566	)		(552,808	)		(1,336,696	)
Net Gain (Loss) on Investment		(5,325,751	)		(4,780,920	)		(111,762	)		(320,492	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(5,685,781	)		(4,997,679	)		(122,057	)		(377,423	)
Increase (Decrease) in Net Assets from Contract Transactions		5,672,293			8,548,338			(142,395	)		922,540
Total Increase (Decrease) in Net Assets		(13,488	)		3,550,659			(264,452	)		545,117
Net Assets as of December 31, 2015:	$	95,406,942		$	58,624,473		$	3,066,345		$	8,150,627
Investment Income:
Reinvested Dividends		1,123,193			589,802			22,283			47,538
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,231,852			771,126			38,764			127,944
Net Investment Income (Loss)		(108,659	)		(181,324	)		(16,481	)		(80,406	)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			—			287,276			916,696
Realized Gain (Loss) on Investments		(507,757	)		(1,083,059	)		37,215			(132,052	)
Net Realized Capital Gains (Losses) on Investments		(507,757	)		(1,083,059	)		324,491			784,644
Net Change in Unrealized Appreciation (Depreciation)		1,428,343			1,559,006			229,133			904,386
Net Gain (Loss) on Investment		920,586			475,947			553,624			1,689,030
Net Increase (Decrease) in Net Assets Resulting from Operations		811,927			294,623			537,143			1,608,624
Increase (Decrease) in Net Assets from Contract Transactions		(6,889,291	)		(5,907,303	)		(393,988	)		582,452
Total Increase (Decrease) in Net Assets		(6,077,364	)		(5,612,680	)		143,155			2,191,076
Net Assets as of December 31, 2016:	$	89,329,578		$	53,011,793		$	3,209,500		$	10,341,703

See Accompanying Notes.

⁽¹⁾ See Footnote 1

24

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA T. Rowe Price Small Cap Initial Class Subaccount			TA T. Rowe Price Small Cap Service Class Subaccount			TA Torray Concentrated Growth Initial Class Subaccount			TA Torray Concentrated Growth Service Class Subaccount			TA TS&W International Equity Initial Class Subaccount
Net Assets as of December 31, 2014:	$	295,834		$	22,421,531		$	1,765,697		$	9,918,986		$	886,720
Investment Income:
Reinvested Dividends		—			—			9,558			32,967			25,695
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,955			381,615			24,397			143,513			11,996
Net Investment Income (Loss)		(2,955	)		(381,615	)		(14,839	)		(110,546	)		13,699
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		20,734			2,059,022			331,707			1,986,456			—
Realized Gain (Loss) on Investments		86,107			564,748			19,966			(682,330	)		14,572
Net Realized Capital Gains (Losses) on Investments		106,841			2,623,770			351,673			1,304,126			14,572
Net Change in Unrealized Appreciation (Depreciation)		(92,386	)		(2,341,892	)		(386,371	)		(1,370,305	)		(23,798	)
Net Gain (Loss) on Investment		14,455			281,878			(34,698	)		(66,179	)		(9,226	)
Net Increase (Decrease) in Net Assets Resulting from Operations		11,500			(99,737	)		(49,537	)		(176,725	)		4,473
Increase (Decrease) in Net Assets from Contract Transactions		(45,833	)		2,523,075			(69,038	)		(7,201,223	)		(113,256	)
Total Increase (Decrease) in Net Assets		(34,333	)		2,423,338			(118,575	)		(7,377,948	)		(108,783	)
Net Assets as of December 31, 2015:	$	261,501		$	24,844,869		$	1,647,122		$	2,541,038		$	777,937
Investment Income:
Reinvested Dividends		—			—			6,633			3,373			18,220
Investment Expense:
Mortality and Expense Risk and Administrative Charges		2,443			376,774			19,844			36,767			9,494
Net Investment Income (Loss)		(2,443	)		(376,774	)		(13,211	)		(33,394	)		8,726
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		30,403			3,213,477			—			—			—
Realized Gain (Loss) on Investments		10,683			(47,350	)		21,734			(62,187	)		1,910
Net Realized Capital Gains (Losses) on Investments		41,086			3,166,127			21,734			(62,187	)		1,910
Net Change in Unrealized Appreciation (Depreciation)		(14,696	)		(711,060	)		48,049			202,301			(16,702	)
Net Gain (Loss) on Investment		26,390			2,455,067			69,783			140,114			(14,792	)
Net Increase (Decrease) in Net Assets Resulting from Operations		23,947			2,078,293			56,572			106,720			(6,066	)
Increase (Decrease) in Net Assets from Contract Transactions		(20,049	)		2,832,618			(317,163	)		(39,574	)		(99,519	)
Total Increase (Decrease) in Net Assets		3,898			4,910,911			(260,591	)		67,146			(105,585	)
Net Assets as of December 31, 2016:	$	265,399		$	29,755,780		$	1,386,531		$	2,608,184		$	672,352

See Accompanying Notes.

⁽¹⁾ See Footnote 1

25

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	TA TS&W International Equity Service Class Subaccount			TA WMC US Growth Initial Class Subaccount			TA WMC US Growth Service Class Subaccount			Vanguard® Equity Index Subaccount			Vanguard® International Subaccount
Net Assets as of December 31, 2014:	$	1,710,204		$	3,041,752		$	2,909,622		$	—		$	—
Investment Income:
Reinvested Dividends		77,075			21,298			22,030			11,878			8,285
Investment Expense:
Mortality and Expense Risk and Administrative Charges		37,627			41,476			76,783			5,288			3,284
Net Investment Income (Loss)		39,448			(20,178	)		(54,753	)		6,590			5,001
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			934,412			1,389,040			21,752			6,805
Realized Gain (Loss) on Investments		6,672			109,223			(116,223	)		(52	)		(15	)
Net Realized Capital Gains (Losses) on Investments		6,672			1,043,635			1,272,817			21,700			6,790
Net Change in Unrealized Appreciation (Depreciation)		(129,310	)		(857,486	)		(1,246,748	)		(11,920	)		(23,787	)
Net Gain (Loss) on Investment		(122,638	)		186,149			26,069			9,780			(16,997	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(83,190	)		165,971			(28,684	)		16,370			(11,996	)
Increase (Decrease) in Net Assets from Contract Transactions		832,637			(392,785	)		11,471,852			707,208			442,005
Total Increase (Decrease) in Net Assets		749,447			(226,814	)		11,443,168			723,578			430,009
Net Assets as of December 31, 2015:	$	2,459,651		$	2,814,938		$	14,352,790		$	723,578		$	430,009
Investment Income:
Reinvested Dividends		59,099			10,349			25,803			16,490			6,071
Investment Expense:
Mortality and Expense Risk and Administrative Charges		35,241			36,025			220,998			5,950			3,423
Net Investment Income (Loss)		23,858			(25,676	)		(195,195	)		10,540			2,648
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—			106,934			629,873			13,470			7,068
Realized Gain (Loss) on Investments		(36,253	)		(26,895	)		(324,314	)		(102	)		(287	)
Net Realized Capital Gains (Losses) on Investments		(36,253	)		80,039			305,559			13,368			6,781
Net Change in Unrealized Appreciation (Depreciation)		(22,227	)		(27,337	)		82,834			55,124			(4,371	)
Net Gain (Loss) on Investment		(58,480	)		52,702			388,393			68,492			2,410
Net Increase (Decrease) in Net Assets Resulting from Operations		(34,622	)		27,026			193,198			79,032			5,058
Increase (Decrease) in Net Assets from Contract Transactions		80,015			(335,142	)		1,603,254			—			22,002
Total Increase (Decrease) in Net Assets		45,393			(308,116	)		1,796,452			79,032			27,060
Net Assets as of December 31, 2016:	$	2,505,044		$	2,506,822		$	16,149,242		$	802,610		$	457,069

See Accompanying Notes.

⁽¹⁾ See Footnote 1

26

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Vanguard® Mid-Cap Index Subaccount		Vanguard® REIT Index Subaccount		Vanguard® Short-Term Investment Grade Subaccount		Vanguard® Total Bond Market Index Subaccount			Voya Global Perspectives Class S Shares Subaccount(1)
Net Assets as of December 31, 2014:	$	—	$	—	$	—	$	—		$	—
Investment Income:
Reinvested Dividends		—		—		—		7,785			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		—		—		—		2,524			—
Net Investment Income (Loss)		—		—		—		5,261			—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—		—		—		1,460			—
Realized Gain (Loss) on Investments		—		—		—		(99	)		—
Net Realized Capital Gains (Losses) on Investments		—		—		—		1,361			—
Net Change in Unrealized Appreciation (Depreciation)		—		—		—		(15,721	)		—
Net Gain (Loss) on Investment		—		—		—		(14,360	)		—
Net Increase (Decrease) in Net Assets Resulting from Operations		—		—		—		(9,099	)		—
Increase (Decrease) in Net Assets from Contract Transactions		—		—		—		353,604			—
Total Increase (Decrease) in Net Assets		—		—		—		344,505			—
Net Assets as of December 31, 2015:	$	—	$	—	$	—	$	344,505		$	—
Investment Income:
Reinvested Dividends		—		—		—		8,081			—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		—		—		—		2,838			—
Net Investment Income (Loss)		—		—		—		5,243			—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—		—		—		963			—
Realized Gain (Loss) on Investments		—		—		—		(87	)		—
Net Realized Capital Gains (Losses) on Investments		—		—		—		876			—
Net Change in Unrealized Appreciation (Depreciation)		—		—		—		(411	)		—
Net Gain (Loss) on Investment		—		—		—		465			—
Net Increase (Decrease) in Net Assets Resulting from Operations		—		—		—		5,708			—
Increase (Decrease) in Net Assets from Contract Transactions		—		—		—		(1	)		—
Total Increase (Decrease) in Net Assets		—		—		—		5,707			—
Net Assets as of December 31, 2016:	$	—	$	—	$	—	$	350,212		$	—

See Accompanying Notes.

⁽¹⁾ See Footnote 1

27

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Statements of Operations and Change in Net Assets

Years Ended December 31, 2015 and 2016, Except as Noted

	Voya Large Cap Value Class S Shares Subaccount(1)		Voya Strategic Allocation Conservative Class S Shares Subaccount(1)		Voya Strategic Allocation Moderate Class S Shares Subaccount(1)		Wanger International Subaccount		Wanger USA Subaccount
Net Assets as of December 31, 2014:	$	—	$	—	$	—	$	—	$	—
Investment Income:
Reinvested Dividends		—		—		—		—		—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		—		—		—		—		—
Net Investment Income (Loss)		—		—		—		—		—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—		—		—		—		—
Realized Gain (Loss) on Investments		—		—		—		—		—
Net Realized Capital Gains (Losses) on Investments		—		—		—		—		—
Net Change in Unrealized Appreciation (Depreciation)		—		—		—		—		—
Net Gain (Loss) on Investment		—		—		—		—		—
Net Increase (Decrease) in Net Assets Resulting from Operations		—		—		—		—		—
Increase (Decrease) in Net Assets from Contract Transactions		—		—		—		—		—
Total Increase (Decrease) in Net Assets		—		—		—		—		—
Net Assets as of December 31, 2015:	$	—	$	—	$	—	$	—	$	—
Investment Income:
Reinvested Dividends		—		—		—		—		—
Investment Expense:
Mortality and Expense Risk and Administrative Charges		—		—		—		—		—
Net Investment Income (Loss)		—		—		—		—		—
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		—		—		—		—		—
Realized Gain (Loss) on Investments		—		—		—		—		—
Net Realized Capital Gains (Losses) on Investments		—		—		—		—		—
Net Change in Unrealized Appreciation (Depreciation)		—		—		—		—		—
Net Gain (Loss) on Investment		—		—		—		—		—
Net Increase (Decrease) in Net Assets Resulting from Operations		—		—		—		—		—
Increase (Decrease) in Net Assets from Contract Transactions		—		—		—		—		—
Total Increase (Decrease) in Net Assets		—		—		—		—		—
Net Assets as of December 31, 2016:	$	—	$	—	$	—	$	—	$	—

See Accompanying Notes.

⁽¹⁾ See Footnote 1

28

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

1. Organization

Separate Accont VA BNY (the Separate Account) is a segregated investment account of Transamerica Financial Life Insurance Company (TFLIC), an indirect wholly owned subsidiary of AEGON N.V., a holding company organized under the laws of The Netherlands.

The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. TFLIC and the Separate Account are regulated by the Securities and Exchange Commission. The assets and liabilities of the Separate Account are clearly identified and distinguished from TFLIC other assets and liabilities. The Separate Account consists of multiple investment subaccounts. Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund. Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specified investment subaccounts is available to contract owners of Transamerica Landmark NY Variable Annuity, Transamerica Variable Annuity Series, Partners Variable Annuity Series, Transamerica Landmark^SM NY Variable Annuity, Transamerica Axiom^SM II, Transamerica Principium^SM III, Transamerica Retirement Income Plus, Transamerica Income Elite^SM II, Transamerica Advisor Elite II, Transamerica Variable Annuity O-Share, Transamerica Liberty^SM NY Variable Annuity, Transamerica Axiom^SM NY Variable Annuity, Transamerica Principium^SM II Variable Annuity, Income Elite^SM Variable Annuity.

The TA Profunds UltraBear-Open Allocation Method-Service Class (OAM) is included in the subaccount listing only to facilitate a contract owner purchase option.

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
AB Variable Products Series Fund, Inc.	AB Variable Products Series Fund, Inc.
AB Balanced Wealth Strategy Class B Shares	AB Balanced Wealth Strategy Portfolio Class B Shares
AB Growth and Income Class B Shares	AB Growth and Income Portfolio Class B Shares
AB Large Cap Growth Class B Shares	AB Large Cap Growth Portfolio Class B Shares
American Funds Insurance Series®	American Funds Insurance Series®
American Funds - Asset Allocation Class 2 Shares	American Funds - Asset Allocation Fund Class 2 Shares
American Funds - Bond Class 2 Shares	American Funds - Bond Fund Class 2 Shares
American Funds - Growth Class 2 Shares	American Funds - Growth Fund Class 2 Shares
American Funds - Growth-Income Class 2 Shares	American Funds - Growth-Income Fund Class 2 Shares
American Funds - International Class 2 Shares	American Funds - International Fund Class 2 Shares
Fidelity® Variable Insurance Products Fund	Fidelity® Variable Insurance Products Fund
Fidelity® VIP Balanced Service Class 2	Fidelity® VIP Balanced Service Portfolio Class 2
Fidelity® VIP Contrafund® Initial Class	Fidelity® VIP Contrafund® Portfolio Initial Class
Fidelity® VIP Contrafund® Service Class 2	Fidelity® VIP Contrafund® Portfolio Service Class 2
Fidelity® VIP Equity-Income Service Class 2	Fidelity® VIP Equity-Income Portfolio Service Class 2
Fidelity® VIP Growth Service Class 2	Fidelity® VIP Growth Portfolio Service Class 2
Fidelity® VIP Growth Opportunities Service Class 2	Fidelity® VIP Growth Opportunities Portfolio Service Class 2
Fidelity® VIP Mid Cap Initial Class	Fidelity® VIP Mid Cap Portfolio Initial Class
Fidelity® Variable Insurance Products Fund	Fidelity® Variable Insurance Products Fund
Fidelity® VIP Mid Cap Service Class 2	Fidelity® VIP Mid Cap Portfolio Service Class 2
Fidelity® VIP Value Strategies Initial Class	Fidelity® VIP Value Strategies Portfolio Initial Class
Fidelity® VIP Value Strategies Service Class 2	Fidelity® VIP Value Strategies Portfolio Service Class 2
Franklin Templeton Variable Insurance Products Trust	Franklin Templeton Variable Insurance Products Trust
Franklin Founding Funds Allocation Class 4 Shares	Franklin Founding Funds Allocation Fund Class 4 Shares
Franklin Income Class 2 Shares	Franklin Income Fund Class 2 Shares
Franklin Mutual Shares Class 2 Shares	Franklin Mutual Shares Fund Class 2 Shares
Franklin Templeton Foreign Class 2 Shares	Franklin Templeton Foreign Fund Class 2 Shares

29

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
AIM Variable Insurance Funds (Invesco Variable Insurance Funds)	AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
Invesco V.I. American Franchise Series II Shares	Invesco V.I. American Franchise Fund Series II Shares
Invesco V.I. Value Opportunities Series II Shares	Invesco V.I. Value Opportunities Fund Series II Shares
Janus Aspen Series	Janus Aspen Series
Janus Aspen - Enterprise Service Shares	Janus Aspen - Enterprise Portfolio Service Shares
Janus Aspen - Global Research Service Shares	Janus Aspen - Global Research Portfolio Service Shares
Janus Aspen - Perkins Mid Cap Value Service Shares	Janus Aspen - Perkins Mid Cap Value Portfolio Service Shares
JPMorgan Insurance Trust	JPMorgan Insurance Trust
JPMorgan Insurance Trust Core Bond Class 1 Shares	JPMorgan Insurance Trust Core Bond Class 1 Shares
JPMorgan Insurance Trust Mid Cap Value Class 1 Shares	JPMorgan Insurance Trust Mid Cap Value Class 1 Shares
JPMorgan Insurance Trust Small Cap Core Class 1 Shares	JPMorgan Insurance Trust Small Cap Core Class 1 Shares
JPMorgan Insurance Trust U.S. Equity Class 1 Shares	JPMorgan Insurance Trust U.S. Equity Class 1 Shares
MFS® Variable Insurance Trust	MFS® Variable Insurance Trust
MFS® New Discovery Service Class	MFS® New Discovery Series Service Class
MFS® Total Return Service Class	MFS® Total Return Series Service Class
State Street Variable Insurance Series Funds, Inc.	State Street Variable Insurance Series Funds, Inc.
State Street Total Return V.I.S. Class 3 Shares	State Street Total Return V.I.S. Fund Class 3 Shares
Transamerica Series Trust	Transamerica Series Trust
TA AB Dynamic Allocation Initial Class	Transamerica AB Dynamic Allocation VP Initial Class
TA AB Dynamic Allocation Service Class	Transamerica AB Dynamic Allocation VP Service Class
TA Aegon Government Money Market Initial Class	Transamerica Aegon Government Money Market VP Initial Class
TA Aegon Government Money Market Service Class	Transamerica Aegon Money Market VP Service Class
TA Aegon High Yield Bond Initial Class	Transamerica Aegon High Yield Bond VP Initial Class
TA Aegon High Yield Bond Service Class	Transamerica Aegon High Yield Bond VP Service Class
TA Aegon U.S. Government Securities Initial Class	Transamerica Aegon U.S. Government Securities VP Initial Class
TA Aegon U.S. Government Securities Service Class	Transamerica Aegon U.S. Government Securities VP Service Class
TA American Funds Managed Risk - Balanced Service Class	Transamerica American Funds Managed Risk - Balanced VP Service Class
TA Asset Allocation - Conservative Initial Class	Transamerica Asset Allocation - Conservative VP Initial Class
TA Asset Allocation - Conservative Service Class	Transamerica Asset Allocation - Conservative VP Service Class
TA Asset Allocation - Growth Initial Class	Transamerica Asset Allocation - Growth VP Initial Class
TA Asset Allocation - Growth Service Class	Transamerica Asset Allocation - Growth VP Service Class
TA Asset Allocation - Moderate Initial Class	Transamerica Asset Allocation - Moderate VP Initial Class
TA Asset Allocation - Moderate Service Class	Transamerica Asset Allocation - Moderate VP Service Class
TA Asset Allocation - Moderate Growth Initial Class	Transamerica Asset Allocation - Moderate Growth VP Initial Class
TA Asset Allocation - Moderate Growth Service Class	Transamerica Asset Allocation - Moderate Growth VP Service Class
TA Barrow Hanley Dividend Focused Initial Class	Transamerica Barrow Hanley Dividend Focused VP Initial Class
TA Barrow Hanley Dividend Focused Service Class	Transamerica Barrow Hanley Dividend Focused VP Service Class
TA BlackRock Equity Smart Beta 100 Service Class	Transamerica BlackRock Equity Smart Beta 100 VP Service Class
TA BlackRock Global Allocation Service Class	Transamerica BlackRock Global Allocation VP Service Class
TA BlackRock Global Allocation Managed Risk - Balanced Service Class	Transamerica BlackRock Global Allocation Managed Risk - Balanced VP Service Class
TA BlackRock Global Allocation Managed Risk - Growth Service Class	Transamerica BlackRock Global Allocation Managed Risk - Growth VP Service Class
TA BlackRock Smart Beta 50 Service Class	Transamerica BlackRock Smart Beta 50 VP Service Class
TA BlackRock Smart Beta 75 Service Class	Transamerica BlackRock Smart Beta 75 VP Service Class
TA BlackRock Tactical Allocation Service Class	Transamerica BlackRock Tactical Allocation VP Service Class

30

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Transamerica Series Trust	Transamerica Series Trust
TA Clarion Global Real Estate Securities Initial Class	Transamerica Clarion Global Real Estate Securities VP Initial Class
TA Clarion Global Real Estate Securities Service Class	Transamerica Clarion Global Real Estate Securities VP Service Class
TA International Moderate Growth Service Class	Transamerica International Moderate Growth VP Service Class
TA Janus Balanced Service Class	Transamerica Janus Balanced VP Service Class
TA Janus Mid-Cap Growth Initial Class	Transamerica Janus Mid-Cap Growth VP Initial Class
TA Janus Mid-Cap Growth Service Class	Transamerica Janus Mid-Cap Growth VP Service Class
TA Jennison Growth Initial Class	Transamerica Jennison Growth VP Initial Class
TA Jennison Growth Service Class	Transamerica Jennison Growth VP Service Class
TA JPMorgan Core Bond Service Class	Transamerica JPMorgan Core Bond VP Service Class
TA JPMorgan Enhanced Index Initial Class	Transamerica JPMorgan Enhanced Index VP Initial Class
TA JPMorgan Enhanced Index Service Class	Transamerica JPMorgan Enhanced Index VP Service Class
TA JPMorgan Mid Cap Value Service Class	Transamerica JPMorgan Mid Cap Value VP Service Class
TA JPMorgan Tactical Allocation Service Class	Transamerica JPMorgan Tactical Allocation VP Service Class
TA Legg Mason Dynamic Allocation - Balanced Service Class	Transamerica Legg Mason Dynamic Allocation - Balanced VP Service Class
TA Legg Mason Dynamic Allocation - Growth Service Class	Transamerica Legg Mason Dynamic Allocation - Growth VP Service Class
TA Managed Risk - Balanced ETF Service Class	Transamerica Managed Risk - Balanced ETF VP Service Class
TA Managed Risk - Conservative ETF Service Class	Transamerica Managed Risk - Conservative ETF VP Service Class
TA Managed Risk - Growth ETF Service Class	Transamerica Managed Risk - Growth ETF VP Service Class
TA Market Participation Strategy Service Class	Transamerica Market Participation Strategy VP Service Class
TA MFS International Equity Initial Class	Transamerica MFS International Equity VP Initial Class
TA MFS International Equity Service Class	Transamerica MFS International Equity VP Service Class
TA Morgan Stanley Capital Growth Initial Class	Transamerica Morgan Stanley Capital Growth VP Initial Class
TA Morgan Stanley Capital Growth Service Class	Transamerica Morgan Stanley Capital Growth VP Service Class
TA Multi-Managed Balanced Initial Class	Transamerica Multi-Managed Balanced VP Initial Class
TA Multi-Managed Balanced Service Class	Transamerica Multi-Managed Balanced VP Service Class
TA Multi-Manager Alternative Strategies Service Class	Transamerica Multi-Manager Alt Strategies VP Service Class
TA PIMCO Tactical - Balanced Service Class	Transamerica PIMCO Tactical - Balanced VP Service Class
TA PIMCO Tactical - Conservative Service Class	Transamerica PIMCO Tactical - Conservative VP Service Class
TA PIMCO Tactical - Growth Service Class	Transamerica PIMCO Tactical - Growth VP Service Class
TA PIMCO Total Return Initial Class	Transamerica PIMCO Total Return VP Initial Class
TA PIMCO Total Return Service Class	Transamerica PIMCO Total Return VP Service Class
TA PineBridge Inflation Opportunities Service Class	Transamerica PineBridge Inflation Opportunities VP Service Class
TA ProFunds UltraBear Service Class (OAM)	Transamerica ProFunds UltraBear VP Service Class (OAM)
TA QS Investors Active Asset Allocation - Conservative Service Class	Transamerica QS Investors Active Asset Allocation - Conservative VP Service Class
TA QS Investors Active Asset Allocation - Moderate Service Class	Transamerica QS Investors Active Asset Allocation - Moderate VP Service Class
TA QS Investors Active Asset Allocation - Moderate Growth Service Class	Transamerica QS Investors Active Asset Allocation - Moderate Growth VP Service Class
TA Small/Mid Cap Value Initial Class	Transamerica Small/Mid Cap Value VP Initial Class
TA Small/Mid Cap Value Service Class	Transamerica Small/Mid Cap Value VP Service Class
TA T. Rowe Price Small Cap Initial Class	Transamerica T. Rowe Price Small Cap VP Initial Class
TA T. Rowe Price Small Cap Service Class	Transamerica T. Rowe Price Small Cap VP Service Class

31

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Transamerica Series Trust	Transamerica Series Trust
TA Torray Concentrated Growth Initial Class	Transamerica Torray Concentrated Growth VP Initial Class
TA Torray Concentrated Growth Service Class	Transamerica Torray Concentrated Growth VP Service Class
TA TS&W International Equity Initial Class	Transamerica TS&W International Equity VP Initial Class
TA TS&W International Equity Service Class	Transamerica TS&W International Equity VP Service Class
TA WMC US Growth Initial Class	Transamerica WMC US Growth VP Initial Class
TA WMC US Growth Service Class	Transamerica WMC US Growth VP Service Class
Vanguard® Variable Insurance Fund	Vanguard® Variable Insurance Fund
Vanguard® Equity Index	Vanguard® Equity Index Portfolio
Vanguard® International	Vanguard® International Portfolio
Vanguard® Mid-Cap Index	Vanguard® Mid-Cap Index Portfolio
Vanguard® REIT Index	Vanguard® REIT Index Portfolio
Vanguard® Short-Term Investment Grade	Vanguard® Short-Term Investment Grade Portfolio
Vanguard® Total Bond Market Index	Vanguard® Total Bond Market Index Portfolio
Voya Investors Trust	Voya Investors Trust
Voya Global Perspectives Class S Shares	Voya Global Perspectives Portfolio Class S Shares
Voya Large Cap Value Class S Shares	Voya Large Cap Value Portfolio Class S Shares
Voya Strategic Allocation Portfolios, Inc.	Voya Strategic Allocation Portfolios, Inc.
Voya Strategic Allocation Conservative Class S Shares	Voya Strategic Allocation Conservative Portfolio Class S Shares
Voya Strategic Allocation Moderate Class S Shares	Voya Strategic Allocation Moderate Portfolio Class S Shares
Wanger Advisors Trust	Wanger Advisors Trust
Wanger International	Wanger International
Wanger USA	Wanger USA

Each period reported on reflects a full twelve month period except as follows:

Subaccount	Inception Date
TA BlackRock Equity Smart Beta 100 Service Class	March 21, 2016
TA BlackRock Smart Beta 50 Service Class	March 21, 2016
TA BlackRock Smart Beta 75 Service Class	March 21, 2016
TA American Funds Managed Risk - Balanced Service Class	May 1, 2015
TA BlackRock Global Allocation Managed Risk - Balanced Service Class	May 1, 2015
TA BlackRock Global Allocation Managed Risk - Growth Service Class	May 1, 2015
Voya Global Perspectives Class S Shares	May 1, 2015
Voya Large Cap Value Class S Shares	May 1, 2015
Voya Strategic Allocation Conservative Class S Shares	May 1, 2015
Voya Strategic Allocation Moderate Class S Shares	May 1, 2015
TA Multi-Manager Alternative Strategies Service Class	November 4, 2013
Fidelity® VIP Contrafund® Initial Class	May 1, 2013
Fidelity® VIP Mid Cap Initial Class	May 1, 2013
Fidelity® VIP Value Strategies Initial Class	May 1, 2013
Vanguard® Equity Index	May 1, 2013
Vanguard® International	May 1, 2013
Vanguard® Mid-Cap Index	May 1, 2013

32

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

1. Organization (continued)

Subaccount	Inception Date
Vanguard® REIT Index	May 1, 2013
Vanguard® Short-Term Investment Grade	May 1, 2013
Vanguard® Total Bond Market Index	May 1, 2013
Wanger International	May 1, 2013
Wanger USA	May 1, 2013
TA Market Participation Strategy Service Class	September 17, 2012
TA Legg Mason Dynamic Allocation - Balanced Service Class	May 1, 2012
TA Legg Mason Dynamic Allocation - Growth Service Class	May 1, 2012
Invesco V.I. American Franchise Series II Shares	April 27, 2012

The following subaccount name changes were made effective during the fiscal year ended December 31, 2016:

Subaccount	Formerly
State Street Total Return V.I.S. Class 3 Shares	GE Investments Total Return Class 3 Shares
TA Aegon Government Money Market Initial Class	TA Aegon Money Market Initial Class
TA Aegon Government Money Market Service Class	TA Aegon Money Market Service Class
TA Janus Mid-Cap Growth Initial Class	TA Morgan Stanley Mid-Cap Growth Initial Class
TA Janus Mid-Cap Growth Service Class	TA Morgan Stanley Mid-Cap Growth Service Class
TA Small/Mid Cap Value Initial Class	TA Systematic Small/Mid Cap Value Initial Class
TA Small/Mid Cap Value Service Class	TA Systematic Small/Mid Cap Value Service Class

During the current year the following subaccounts were liquidated and subsequently reinvested:

Reinvested Subaccount	Liquidated Subaccount
TA Janus Mid-Cap Growth Initial Class	TA Voya Mid Cap Opportunities Service Class
TA JPMorgan Core Bond Service Class	TA Voya Limited Maturity Bond Service Class

33

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

2. Summary of Significant Accounting Policies

The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities. Actual results could differ from those estimates.

Investments

Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2016.

Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets.

Dividend Income

Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares.

Fair Value Measurements and Fair Value Hierarchy

The Accounting Standards Codification™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.

The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows:

Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.

Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

a) Quoted prices for similar assets or liabilities in active markets

b) Quoted prices for identical or similar assets or liabilities in non-active markets

c) Inputs other than quoted market prices that are observable

d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means.

Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.

All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1.

There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2016.

34

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

3. Investments

The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2016 were as follows:

Subaccount	Purchases		Sales
AB Balanced Wealth Strategy Class B Shares	$	1,043,558	$	1,191,761
AB Growth and Income Class B Shares		4,332,990		1,485,432
AB Large Cap Growth Class B Shares		53,540		31,773
American Funds - Asset Allocation Class 2 Shares		15,292,253		3,629,797
American Funds - Bond Class 2 Shares		6,488,499		3,331,707
American Funds - Growth Class 2 Shares		12,727,100		6,784,985
American Funds - Growth-Income Class 2 Shares		8,979,875		4,055,655
American Funds - International Class 2 Shares		4,147,359		2,199,319
Fidelity® VIP Balanced Service Class 2		4,933,424		5,462,190
Fidelity® VIP Contrafund® Initial Class		21,319		22,568
Fidelity® VIP Contrafund® Service Class 2		11,500,625		7,307,421
Fidelity® VIP Equity-Income Service Class 2		74,686		168,286
Fidelity® VIP Growth Service Class 2		77,139		50,687
Fidelity® VIP Growth Opportunities Service Class 2		36		88
Fidelity® VIP Mid Cap Initial Class		—		—
Fidelity® VIP Mid Cap Service Class 2		7,817,464		5,550,772
Fidelity® VIP Value Strategies Initial Class		245		141
Fidelity® VIP Value Strategies Service Class 2		3,496,451		2,846,192
Franklin Founding Funds Allocation Class 4 Shares		346,196		502,561
Franklin Income Class 2 Shares		189,315		633,446
Franklin Mutual Shares Class 2 Shares		74,045		132,594
Franklin Templeton Foreign Class 2 Shares		62,311		158,919
Invesco V.I. American Franchise Series II Shares		16,626		4,099
Invesco V.I. Value Opportunities Series II Shares		101,249		22,875
Janus Aspen - Enterprise Service Shares		23,659		17,586
Janus Aspen - Global Research Service Shares		3,699		17,506
Janus Aspen - Perkins Mid Cap Value Service Shares		308		99
JPMorgan Insurance Trust Core Bond Class 1 Shares		15,180		113,165
JPMorgan Insurance Trust Mid Cap Value Class 1 Shares		8,995		1,912
JPMorgan Insurance Trust Small Cap Core Class 1 Shares		601		234
JPMorgan Insurance Trust U.S. Equity Class 1 Shares		2,984		1,763
MFS® New Discovery Service Class		111,107		293,736
MFS® Total Return Service Class		111,858		127,590
State Street Total Return V.I.S. Class 3 Shares		755,250		336,411
TA AB Dynamic Allocation Initial Class		1,289		8,643
TA AB Dynamic Allocation Service Class		4,947,773		3,847,232

35

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

3. Investments (continued)

Subaccount	Purchases		Sales
TA Aegon Government Money Market Initial Class	$	207,881	$	273,169
TA Aegon Government Money Market Service Class		63,348,239		74,502,494
TA Aegon High Yield Bond Initial Class		6,113		35,736
TA Aegon High Yield Bond Service Class		1,999,747		1,715,942
TA Aegon U.S. Government Securities Initial Class		235,276		284,542
TA Aegon U.S. Government Securities Service Class		60,828,126		59,267,570
TA American Funds Managed Risk - Balanced Service Class		19,789,791		3,457,692
TA Asset Allocation - Conservative Initial Class		672		219
TA Asset Allocation - Conservative Service Class		10,474,006		14,435,158
TA Asset Allocation - Growth Initial Class		1,190		91,342
TA Asset Allocation - Growth Service Class		1,944,185		1,374,025
TA Asset Allocation - Moderate Initial Class		130,638		36,638
TA Asset Allocation - Moderate Service Class		32,871,251		32,444,244
TA Asset Allocation - Moderate Growth Initial Class		126,888		5,140
TA Asset Allocation - Moderate Growth Service Class		31,035,031		20,185,970
TA Barrow Hanley Dividend Focused Initial Class		73,150		665,353
TA Barrow Hanley Dividend Focused Service Class		7,468,503		2,145,347
TA BlackRock Equity Smart Beta 100 Service Class		1,136,517		26,510
TA BlackRock Global Allocation Service Class		15,015,954		11,491,950
TA BlackRock Global Allocation Managed Risk - Balanced Service Class		6,797,949		2,438,532
TA BlackRock Global Allocation Managed Risk - Growth Service Class		4,260,980		996,908
TA BlackRock Smart Beta 50 Service Class		3,659,688		128,150
TA BlackRock Smart Beta 75 Service Class		835,427		7,431
TA BlackRock Tactical Allocation Service Class		16,481,659		9,455,467
TA Clarion Global Real Estate Securities Initial Class		418		1,429
TA Clarion Global Real Estate Securities Service Class		1,218,539		1,221,781
TA International Moderate Growth Service Class		6,030,572		7,291,113
TA Janus Balanced Service Class		24,101,718		9,592,835
TA Janus Mid-Cap Growth Initial Class		21,614		2,544
TA Janus Mid-Cap Growth Service Class		1,255,876		1,083,409
TA Jennison Growth Initial Class		303,417		559,903
TA Jennison Growth Service Class		6,845,082		6,244,141
TA JPMorgan Core Bond Service Class		11,371,400		3,645,432
TA JPMorgan Enhanced Index Initial Class		35,677		111,557
TA JPMorgan Enhanced Index Service Class		3,030,204		735,656
TA JPMorgan Mid Cap Value Service Class		11,673,862		5,126,590

36

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

3. Investments (continued)

Subaccount	Purchases		Sales
TA JPMorgan Tactical Allocation Service Class	$	18,374,568	$	7,150,509
TA Legg Mason Dynamic Allocation - Balanced Service Class		21,316,256		14,416,652
TA Legg Mason Dynamic Allocation - Growth Service Class		12,001,579		13,452,471
TA Managed Risk - Balanced ETF Service Class		52,615,765		51,597,363
TA Managed Risk - Conservative ETF Service Class		19,885,506		18,829,174
TA Managed Risk - Growth ETF Service Class		54,471,523		49,519,364
TA Market Participation Strategy Service Class		7,210,970		5,080,785
TA MFS International Equity Initial Class		6,962		16,405
TA MFS International Equity Service Class		3,603,527		2,347,699
TA Morgan Stanley Capital Growth Initial Class		31,230		35,876
TA Morgan Stanley Capital Growth Service Class		2,918,611		962,238
TA Multi-Managed Balanced Initial Class		29,565		53,391
TA Multi-Managed Balanced Service Class		72,357,200		3,736,377
TA Multi-Manager Alternative Strategies Service Class		84,618		7,725
TA PIMCO Tactical - Balanced Service Class		7,433,078		4,038,499
TA PIMCO Tactical - Conservative Service Class		10,632,596		3,761,575
TA PIMCO Tactical - Growth Service Class		7,414,380		6,840,310
TA PIMCO Total Return Initial Class		220,382		225,878
TA PIMCO Total Return Service Class		16,732,279		11,289,156
TA PineBridge Inflation Opportunities Service Class		2,306,361		2,205,300
TA ProFunds UltraBear Service Class (OAM)		2,435,126		1,818,991
TA QS Investors Active Asset Allocation - Conservative Service Class		3,658,238		5,471,683
TA QS Investors Active Asset Allocation - Moderate Service Class		6,583,871		13,581,789
TA QS Investors Active Asset Allocation - Moderate Growth Service Class		3,604,071		9,692,701
TA Small/Mid Cap Value Initial Class		321,589		444,782
TA Small/Mid Cap Value Service Class		2,934,359		1,515,624
TA T. Rowe Price Small Cap Initial Class		37,190		29,281
TA T. Rowe Price Small Cap Service Class		10,900,176		5,230,847
TA Torray Concentrated Growth Initial Class		43,050		373,425
TA Torray Concentrated Growth Service Class		480,357		553,323
TA TS&W International Equity Initial Class		43,342		134,135
TA TS&W International Equity Service Class		433,890		330,016
TA WMC US Growth Initial Class		119,906		373,791
TA WMC US Growth Service Class		4,182,760		2,144,853
Vanguard® Equity Index		29,960		5,950
Vanguard® International		35,140		3,423

37

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

3. Investments (continued)

Subaccount	Purchases		Sales
Vanguard® Mid-Cap Index	$	—	$	—
Vanguard® REIT Index		—		—
Vanguard® Short-Term Investment Grade		—		—
Vanguard® Total Bond Market Index		9,043		2,838
Voya Global Perspectives Class S Shares		—		—
Voya Large Cap Value Class S Shares		—		—
Voya Strategic Allocation Conservative Class S Shares		—		—
Voya Strategic Allocation Moderate Class S Shares		—		—
Wanger International		—		—
Wanger USA		—		—

38

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Units

The change in units outstanding were as follows:

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
AB Balanced Wealth Strategy Class B Shares		276,728		(594,196	)		(317,468	)		207,730		(171,068	)		36,662
AB Growth and Income Class B Shares		724,452		(432,032	)		292,420			574,482		(420,925	)		153,557
AB Large Cap Growth Class B Shares		—		(12,478	)		(12,478	)		2,163		(23,591	)		(21,428	)
American Funds - Asset Allocation Class 2 Shares		2,401,188		(1,309,070	)		1,092,118			1,027,608		(1,479,337	)		(451,729	)
American Funds - Bond Class 2 Shares		1,144,800		(1,057,082	)		87,718			833,522		(817,354	)		16,168
American Funds - Growth Class 2 Shares		1,046,903		(1,101,971	)		(55,068	)		769,205		(730,512	)		38,693
American Funds - Growth-Income Class 2 Shares		698,037		(579,904	)		118,133			825,076		(415,933	)		409,143
American Funds - International Class 2 Shares		596,839		(618,045	)		(21,206	)		1,478,153		(6,577,414	)		(5,099,261	)
Fidelity® VIP Balanced Service Class 2		1,007,093		(2,048,965	)		(1,041,872	)		1,792,739		(1,514,762	)		277,977
Fidelity® VIP Contrafund® Initial Class		1,598		(1,598	)		—			—		—			—
Fidelity® VIP Contrafund® Service Class 2		1,029,659		(1,410,194	)		(380,535	)		2,119,663		(4,976,354	)		(2,856,691	)
Fidelity® VIP Equity-Income Service Class 2		—		(81,460	)		(81,460	)		8,165		(74,857	)		(66,692	)
Fidelity® VIP Growth Service Class 2		—		(19,042	)		(19,042	)		—		(23,340	)		(23,340	)
Fidelity® VIP Growth Opportunities Service Class 2		—		(45	)		(45	)		—		(46	)		(46	)
Fidelity® VIP Mid Cap Initial Class		—		—			—			—		—			—
Fidelity® VIP Mid Cap Service Class 2		701,282		(925,436	)		(224,154	)		2,594,120		(616,900	)		1,977,220
Fidelity® VIP Value Strategies Initial Class		—		—			—			—		(1	)		(1	)
Fidelity® VIP Value Strategies Service Class 2		472,616		(513,211	)		(40,595	)		499,391		(2,653,378	)		(2,153,987	)
Franklin Founding Funds Allocation Class 4 Shares		54,352		(252,495	)		(198,143	)		58,157		(489,552	)		(431,395	)
Franklin Income Class 2 Shares		13,418		(458,694	)		(445,276	)		50,305		(3,705,638	)		(3,655,333	)
Franklin Mutual Shares Class 2 Shares		—		(103,366	)		(103,366	)		4,360		(32,043	)		(27,683	)
Franklin Templeton Foreign Class 2 Shares		146		(146,217	)		(146,071	)		18,128		(329,105	)		(310,977	)
Invesco V.I. American Franchise Series II Shares		—		(1,034	)		(1,034	)		—		(1,831	)		(1,831	)
Invesco V.I. Value Opportunities Series II Shares		—		(13,685	)		(13,685	)		—		(13,426	)		(13,426	)
Janus Aspen - Enterprise Service Shares		—		(4,101	)		(4,101	)		—		(15,323	)		(15,323	)
Janus Aspen - Global Research Service Shares		—		(10,011	)		(10,011	)		2,242		(11,104	)		(8,862	)
Janus Aspen - Perkins Mid Cap Value Service Shares		—		(35	)		(35	)		—		(36	)		(36	)

39

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
JPMorgan Insurance Trust Core Bond Class 1 Shares		—		(82,892	)		(82,892	)		18,828		(63,518	)		(44,690	)
JPMorgan Insurance Trust Mid Cap Value Class 1 Shares		—		—			—			—		—			—
JPMorgan Insurance Trust Small Cap Core Class 1 Shares		—		(47	)		(47	)		—		(50	)		(50	)
JPMorgan Insurance Trust U.S. Equity Class 1 Shares		—		(341	)		(341	)		—		(328	)		(328	)
MFS® New Discovery Service Class		16,394		(128,700	)		(112,306	)		11,532		(156,779	)		(145,247	)
MFS® Total Return Service Class		1,530		(60,552	)		(59,022	)		5,232		(53,424	)		(48,192	)
State Street Total Return V.I.S. Class 3 Shares		289,461		(193,016	)		96,445			68,036		(250,901	)		(182,865	)
TA AB Dynamic Allocation Initial Class		191		(4,750	)		(4,559	)		346		(710	)		(364	)
TA AB Dynamic Allocation Service Class		674,352		(1,466,122	)		(791,770	)		736,792		(1,708,074	)		(971,282	)
TA Aegon Government Money Market Initial Class		155,628		(203,283	)		(47,655	)		95,523		(115,281	)		(19,758	)
TA Aegon Government Money Market Service Class		19,286,024		(17,421,976	)		1,864,048			16,010,379		(18,807,174	)		(2,796,795	)
TA Aegon High Yield Bond Initial Class		19		(17,380	)		(17,361	)		4,930		(18,805	)		(13,875	)
TA Aegon High Yield Bond Service Class		355,566		(654,932	)		(299,366	)		290,466		(386,324	)		(95,858	)
TA Aegon U.S. Government Securities Initial Class		113,714		(140,022	)		(26,308	)		—		(30,065	)		(30,065	)
TA Aegon U.S. Government Securities Service Class		10,183,651		(10,094,832	)		88,819			10,934,877		(5,238,904	)		5,695,973
TA American Funds Managed Risk - Balanced Service Class		2,037,872		(339,071	)		1,698,801			994,103		(16,481	)		977,622
TA Asset Allocation - Conservative Initial Class		—		—			—			—		(26,040	)		(26,040	)
TA Asset Allocation - Conservative Service Class		1,240,713		(6,672,601	)		(5,431,888	)		2,471,491		(4,867,456	)		(2,395,965	)
TA Asset Allocation - Growth Initial Class		—		(51,458	)		(51,458	)		—		(652	)		(652	)
TA Asset Allocation - Growth Service Class		373,642		(556,376	)		(182,734	)		188,591		(655,165	)		(466,574	)
TA Asset Allocation - Moderate Initial Class		51,490		(15,411	)		36,079			—		(31,562	)		(31,562	)
TA Asset Allocation - Moderate Service Class		5,267,348		(12,654,206	)		(7,386,858	)		5,472,952		(13,304,502	)		(7,831,550	)
TA Asset Allocation - Moderate Growth Initial Class		61,927		(258	)		61,669			—		(37,059	)		(37,059	)
TA Asset Allocation - Moderate Growth Service Class		3,451,104		(7,832,991	)		(4,381,887	)		4,121,881		(8,751,769	)		(4,629,888	)
TA Barrow Hanley Dividend Focused Initial Class		5,664		(279,233	)		(273,569	)		11,219		(189,101	)		(177,882	)
TA Barrow Hanley Dividend Focused Service Class		2,006,264		(614,928	)		1,391,336			2,631,064		(277,546	)		2,353,518
TA BlackRock Equity Smart Beta 100 Service Class		109,689		(2,280	)		107,409			—		—			—

40

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
TA BlackRock Global Allocation Service Class		1,954,165		(4,935,080	)		(2,980,915	)		1,582,885		(3,465,502	)		(1,882,617	)
TA BlackRock Global Allocation Managed Risk - Balanced Service Class		677,936		(256,412	)		421,524			361,999		(13,366	)		348,633
TA BlackRock Global Allocation Managed Risk - Growth Service Class		414,558		(103,349	)		311,209			497,588		(6,012	)		491,576
TA BlackRock Smart Beta 50 Service Class		357,465		(11,638	)		345,827			—		—			—
TA BlackRock Smart Beta 75 Service Class		81,586		(110	)		81,476			—		—			—
TA BlackRock Tactical Allocation Service Class		1,869,304		(2,984,576	)		(1,115,272	)		2,267,011		(3,509,868	)		(1,242,857	)
TA Clarion Global Real Estate Securities Initial Class		—		(434	)		(434	)		1,651		(7,337	)		(5,686	)
TA Clarion Global Real Estate Securities Service Class		184,484		(369,714	)		(185,230	)		272,076		(466,535	)		(194,459	)
TA International Moderate Growth Service Class		1,362,508		(3,608,634	)		(2,246,126	)		3,559,758		(3,514,035	)		45,723
TA Janus Balanced Service Class		5,455,330		(2,429,995	)		3,025,335			3,868,013		(1,555,840	)		2,312,173
TA Janus Mid-Cap Growth Initial Class		9,723		(1,553	)		8,170			5,372		(9,418	)		(4,046	)
TA Janus Mid-Cap Growth Service Class		165,255		(371,775	)		(206,520	)		211,193		(332,902	)		(121,709	)
TA Jennison Growth Initial Class		28,317		(335,632	)		(307,315	)		43,501		(202,895	)		(159,394	)
TA Jennison Growth Service Class		562,059		(1,784,204	)		(1,222,145	)		1,723,825		(592,279	)		1,131,546
TA JPMorgan Core Bond Service Class		1,754,678		(1,254,848	)		499,830			1,992,568		(998,287	)		994,281
TA JPMorgan Enhanced Index Initial Class		7,825		(37,924	)		(30,099	)		4,968		(30,067	)		(25,099	)
TA JPMorgan Enhanced Index Service Class		228,699		(140,407	)		88,292			63,113		(132,320	)		(69,207	)
TA JPMorgan Mid Cap Value Service Class		897,940		(979,356	)		(81,416	)		880,698		(871,596	)		9,102
TA JPMorgan Tactical Allocation Service Class		2,549,487		(2,475,232	)		74,255			3,805,037		(1,741,837	)		2,063,200
TA Legg Mason Dynamic Allocation - Balanced Service Class		2,402,406		(4,416,484	)		(2,014,078	)		8,462,929		(1,328,997	)		7,133,932
TA Legg Mason Dynamic Allocation - Growth Service Class		1,578,134		(2,177,746	)		(599,612	)		4,590,502		(996,819	)		3,593,683
TA Managed Risk - Balanced ETF Service Class		6,578,064		(18,762,358	)		(12,184,294	)		15,645,587		(12,411,003	)		3,234,584
TA Managed Risk - Conservative ETF Service Class		4,277,021		(8,530,376	)		(4,253,355	)		3,615,391		(5,947,354	)		(2,331,963	)
TA Managed Risk - Growth ETF Service Class		6,914,452		(14,352,667	)		(7,438,215	)		10,225,626		(19,201,094	)		(8,975,468	)
TA Market Participation Strategy Service Class		2,519,163		(1,764,467	)		754,696			2,132,007		(568,393	)		1,563,614
TA MFS International Equity Initial Class		4,360		(11,828	)		(7,468	)		6,995		(2,498	)		4,497
TA MFS International Equity Service Class		817,733		(610,683	)		207,050			4,053,206		(232,159	)		3,821,047

41

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)
TA Morgan Stanley Capital Growth Initial Class		9,440		(15,808	)		(6,368	)		12,814		(11,344	)		1,470
TA Morgan Stanley Capital Growth Service Class		319,503		(209,144	)		110,359			228,979		(185,771	)		43,208
TA Multi-Managed Balanced Initial Class		12,065		(23,192	)		(11,127	)		—		—			—
TA Multi-Managed Balanced Service Class		9,088,965		(959,704	)		8,129,261			701,245		(500,735	)		200,510
TA Multi-Manager Alternative Strategies Service Class		8,205		(607	)		7,598			11,271		(179	)		11,092
TA PIMCO Tactical - Balanced Service Class		1,685,178		(1,442,246	)		242,932			1,217,926		(813,932	)		403,994
TA PIMCO Tactical - Conservative Service Class		2,938,785		(2,009,328	)		929,457			1,435,839		(610,891	)		824,948
TA PIMCO Tactical - Growth Service Class		1,094,784		(1,183,510	)		(88,726	)		2,263,491		(735,934	)		1,527,557
TA PIMCO Total Return Initial Class		126,957		(137,198	)		(10,241	)		8,036		(68,275	)		(60,239	)
TA PIMCO Total Return Service Class		2,560,414		(4,827,268	)		(2,266,854	)		3,113,907		(5,515,775	)		(2,401,868	)
TA PineBridge Inflation Opportunities Service Class		660,423		(1,541,623	)		(881,200	)		724,978		(1,742,945	)		(1,017,967	)
TA ProFunds UltraBear Service Class (OAM)		28,778,601		(23,918,571	)		4,860,030			14,311,365		(4,796,934	)		9,514,431
TA QS Investors Active Asset Allocation - Conservative Service Class		641,978		(2,328,835	)		(1,686,857	)		963,073		(2,044,012	)		(1,080,939	)
TA QS Investors Active Asset Allocation - Moderate Service Class		883,778		(5,350,747	)		(4,466,969	)		2,179,317		(3,380,845	)		(1,201,528	)
TA QS Investors Active Asset Allocation - Moderate Growth Service Class		498,616		(3,350,240	)		(2,851,624	)		2,188,996		(2,925,237	)		(736,241	)
TA Small/Mid Cap Value Initial Class		875		(38,223	)		(37,348	)		14,331		(34,425	)		(20,094	)
TA Small/Mid Cap Value Service Class		385,856		(476,930	)		(91,074	)		538,823		(383,157	)		155,666
TA T. Rowe Price Small Cap Initial Class		1,196		(13,909	)		(12,713	)		17,109		(91,842	)		(74,733	)
TA T. Rowe Price Small Cap Service Class		775,414		(895,581	)		(120,167	)		793,477		(678,016	)		115,461
TA Torray Concentrated Growth Initial Class		6,317		(66,163	)		(59,846	)		—		(12,115	)		(12,115	)
TA Torray Concentrated Growth Service Class		76,214		(160,406	)		(84,192	)		402,833		(3,366,142	)		(2,963,309	)
TA TS&W International Equity Initial Class		3,613		(61,777	)		(58,164	)		7,160		(58,783	)		(51,623	)
TA TS&W International Equity Service Class		109,742		(73,980	)		35,762			166,704		(105,070	)		61,634
TA WMC US Growth Initial Class		2,508		(253,989	)		(251,481	)		37,565		(324,052	)		(286,487	)
TA WMC US Growth Service Class		497,992		(680,137	)		(182,145	)		4,341,572		(208,473	)		4,133,099

42

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2016						Year Ended December 31, 2015
Subaccount	Units Purchased		Units Redeemed and Transferred to/from		Net Increase (Decrease)		Units Purchased		Units Redeemed and Transferred to/from		Net Increase (Decrease)
Vanguard® Equity Index		—		—		—		54,305		—		54,305
Vanguard® International		2,068		—		2,068		40,206		—		40,206
Vanguard® Mid-Cap Index		—		—		—		—		—		—
Vanguard® REIT Index		—		—		—		—		—		—
Vanguard® Short-Term Investment Grade		—		—		—		—		—		—
Vanguard® Total Bond Market Index		—		—		—		34,255		—		34,255
Voya Global Perspectives Class S Shares		—		—		—		—		—		—
Voya Large Cap Value Class S Shares		—		—		—		—		—		—
Voya Strategic Allocation Conservative Class S Shares		—		—		—		—		—		—
Voya Strategic Allocation Moderate Class S Shares		—		—		—		—		—		—
Wanger International		—		—		—		—		—		—
Wanger USA		—		—		—		—		—		—

43

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
AB Balanced Wealth Strategy Class B Shares	$	663,094	$	(1,122,777	)	$	(459,683	)	$	672,013	$	(401,153	)	$	270,860
AB Growth and Income Class B Shares		3,235,771		(1,285,863	)		1,949,908			3,273,618		(1,328,177	)		1,945,441
AB Large Cap Growth Class B Shares		—		(25,667	)		(25,667	)		4,227		(43,284	)		(39,057	)
American Funds - Asset Allocation Class 2 Shares		13,823,457		(3,038,945	)		10,784,512			6,178,985		(3,715,861	)		2,463,124
American Funds - Bond Class 2 Shares		6,230,611		(3,128,542	)		3,102,069			3,853,350		(1,382,235	)		2,471,115
American Funds - Growth Class 2 Shares		10,287,342		(6,413,443	)		3,873,899			7,379,890		(3,999,181	)		3,380,709
American Funds - Growth-Income Class 2 Shares		6,463,314		(3,725,490	)		2,737,824			5,528,780		(2,563,296	)		2,965,484
American Funds - International Class 2 Shares		3,118,293		(2,038,238	)		1,080,055			4,797,738		(9,264,353	)		(4,466,615	)
Fidelity® VIP Balanced Service Class 2		4,198,887		(5,180,176	)		(981,289	)		5,797,208		(2,806,940	)		2,990,268
Fidelity® VIP Contrafund® Initial Class		21,319		(22,478	)		(1,159	)		—		—			—
Fidelity® VIP Contrafund® Service Class 2		9,073,128		(6,958,149	)		2,114,979			13,399,906		(16,672,881	)		(3,272,975	)
Fidelity® VIP Equity-Income Service Class 2		—		(156,539	)		(156,539	)		15,771		(138,257	)		(122,486	)
Fidelity® VIP Growth Service Class 2		—		(39,507	)		(39,507	)		—		(42,353	)		(42,353	)
Fidelity® VIP Growth Opportunities Service Class 2		—		(65	)		(65	)		—		(63	)		(63	)
Fidelity® VIP Mid Cap Initial Class		—		—			—			—		—			—
Fidelity® VIP Mid Cap Service Class 2		6,341,181		(5,241,645	)		1,099,536			13,091,094		(3,557,112	)		9,533,982
Fidelity® VIP Value Strategies Initial Class		—		(4	)		(4	)		—		(4	)		(4	)
Fidelity® VIP Value Strategies Service Class 2		3,422,440		(2,721,967	)		700,473			2,999,865		(7,889,184	)		(4,889,319	)
Franklin Founding Funds Allocation Class 4 Shares		95,690		(445,235	)		(349,545	)		106,742		(909,338	)		(802,596	)
Franklin Income Class 2 Shares		16,638		(582,158	)		(565,520	)		63,222		(4,788,448	)		(4,725,226	)
Franklin Mutual Shares Class 2 Shares		—		(121,268	)		(121,268	)		5,487		(39,662	)		(34,175	)
Franklin Templeton Foreign Class 2 Shares		137		(134,969	)		(134,832	)		19,495		(345,872	)		(326,377	)
Invesco V.I. American Franchise Series II Shares		—		(1,456	)		(1,456	)		—		(2,648	)		(2,648	)
Invesco V.I. Value Opportunities Series II Shares		—		(17,824	)		(17,824	)		—		(18,706	)		(18,706	)
Janus Aspen - Enterprise Service Shares		—		(13,685	)		(13,685	)		—		(25,259	)		(25,259	)
Janus Aspen - Global Research Service Shares		—		(11,668	)		(11,668	)		3,239		(16,364	)		(13,125	)
Janus Aspen - Perkins Mid Cap Value Service Shares		—		(70	)		(70	)		—		(74	)		(74	)

44

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
JPMorgan Insurance Trust Core Bond Class 1 Shares	$	—	$	(105,045	)	$	(105,045	)	$	23,474	$	(79,092	)	$	(55,618	)
JPMorgan Insurance Trust Mid Cap Value Class 1 Shares		—		(2	)		(2	)		—		—			—
JPMorgan Insurance Trust Small Cap Core Class 1 Shares		—		(138	)		(138	)		—		(140	)		(140	)
JPMorgan Insurance Trust U.S. Equity Class 1 Shares		—		(897	)		(897	)		—		(848	)		(848	)
MFS® New Discovery Service Class		32,930		(269,553	)		(236,623	)		31,587		(377,592	)		(346,005	)
MFS® Total Return Service Class		2,943		(102,528	)		(99,585	)		9,266		(92,581	)		(83,315	)
State Street Total Return V.I.S. Class 3 Shares		677,481		(305,267	)		372,214			224,958		(358,779	)		(133,821	)
TA AB Dynamic Allocation Initial Class		316		(7,744	)		(7,428	)		568		(1,154	)		(586	)
TA AB Dynamic Allocation Service Class		4,724,624		(3,585,236	)		1,139,388			4,118,979		(2,670,710	)		1,448,269
TA Aegon Government Money Market Initial Class		207,910		(271,045	)		(63,135	)		129,424		(156,131	)		(26,707	)
TA Aegon Government Money Market Service Class		63,422,657		(73,973,658	)		(10,551,001	)		63,775,617		(78,570,105	)		(14,794,488	)
TA Aegon High Yield Bond Initial Class		43		(34,531	)		(34,488	)		10,135		(39,025	)		(28,890	)
TA Aegon High Yield Bond Service Class		1,675,467		(1,642,575	)		32,892			1,310,297		(982,745	)		327,552
TA Aegon U.S. Government Securities Initial Class		232,518		(280,143	)		(47,625	)		—		(60,625	)		(60,625	)
TA Aegon U.S. Government Securities Service Class		60,580,449		(58,189,879	)		2,390,570			76,669,085		(37,393,643	)		39,275,442
TA American Funds Managed Risk - Balanced Service Class		19,771,350		(3,311,809	)		16,459,541			9,560,249		(154,571	)		9,405,678
TA Asset Allocation - Conservative Initial Class		—		1			1			—		(42,340	)		(42,340	)
TA Asset Allocation - Conservative Service Class		8,071,863		(13,684,185	)		(5,612,322	)		13,926,962		(8,752,407	)		5,174,555
TA Asset Allocation - Growth Initial Class		—		(90,035	)		(90,035	)		—		(1,158	)		(1,158	)
TA Asset Allocation - Growth Service Class		1,816,498		(1,284,965	)		531,533			1,682,035		(1,433,740	)		248,295
TA Asset Allocation - Moderate Initial Class		88,926		(25,037	)		63,889			—		(54,588	)		(54,588	)
TA Asset Allocation - Moderate Service Class		21,024,000		(29,234,994	)		(8,210,994	)		28,839,972		(27,663,003	)		1,176,969
TA Asset Allocation - Moderate Growth Initial Class		98,778		(456	)		98,322			—		(65,800	)		(65,800	)
TA Asset Allocation - Moderate Growth Service Class		20,014,929		(18,309,404	)		1,705,525			27,430,690		(18,904,690	)		8,526,000
TA Barrow Hanley Dividend Focused Initial Class		11,866		(624,968	)		(613,102	)		24,823		(423,885	)		(399,062	)
TA Barrow Hanley Dividend Focused Service Class		7,165,446		(1,950,510	)		5,214,936			8,014,494		(1,061,331	)		6,953,163
TA BlackRock Equity Smart Beta 100 Service Class		1,136,496		(23,679	)		1,112,817			—		—			—

45

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
TA BlackRock Global Allocation Service Class	$	14,561,528	$	(10,793,042	)	$	3,768,486		$	8,502,446	$	(7,358,944	)	$	1,143,502
TA BlackRock Global Allocation Managed Risk - Balanced Service Class		6,286,807		(2,380,242	)		3,906,565			3,555,309		(128,539	)		3,426,770
TA BlackRock Global Allocation Managed Risk - Growth Service Class		3,743,586		(932,691	)		2,810,895			4,838,720		(56,182	)		4,782,538
TA BlackRock Smart Beta 50 Service Class		3,660,467		(118,418	)		3,542,049			—		—			—
TA BlackRock Smart Beta 75 Service Class		835,365		(1,139	)		834,226			—		—			—
TA BlackRock Tactical Allocation Service Class		11,186,337		(8,359,899	)		2,826,438			16,166,252		(7,762,021	)		8,404,231
TA Clarion Global Real Estate Securities Initial Class		—		(1,100	)		(1,100	)		4,573		(19,575	)		(15,002	)
TA Clarion Global Real Estate Securities Service Class		1,149,805		(1,147,787	)		2,018			1,726,605		(1,168,694	)		557,911
TA International Moderate Growth Service Class		5,376,515		(6,827,207	)		(1,450,692	)		14,476,342		(5,014,853	)		9,461,489
TA Janus Balanced Service Class		23,201,972		(9,031,220	)		14,170,752			19,500,217		(3,497,702	)		16,002,515
TA Janus Mid-Cap Growth Initial Class		17,694		(1,972	)		15,722			7,871		(12,960	)		(5,089	)
TA Janus Mid-Cap Growth Service Class		927,983		(1,038,381	)		(110,398	)		1,079,453		(1,132,886	)		(53,433	)
TA Jennison Growth Initial Class		45,868		(538,271	)		(492,403	)		74,264		(338,456	)		(264,192	)
TA Jennison Growth Service Class		4,228,337		(6,030,360	)		(1,802,023	)		6,526,674		(1,871,059	)		4,655,615
TA JPMorgan Core Bond Service Class		11,003,531		(3,393,918	)		7,609,613			7,107,637		(1,949,337	)		5,158,300
TA JPMorgan Enhanced Index Initial Class		20,022		(103,671	)		(83,649	)		66,529		(79,530	)		(13,001	)
TA JPMorgan Enhanced Index Service Class		2,987,674		(705,118	)		2,282,556			432,964		(512,154	)		(79,190	)
TA JPMorgan Mid Cap Value Service Class		7,850,004		(4,839,822	)		3,010,182			4,973,926		(3,538,022	)		1,435,904
TA JPMorgan Tactical Allocation Service Class		17,761,184		(6,388,660	)		11,372,524			24,463,531		(3,873,353	)		20,590,178
TA Legg Mason Dynamic Allocation - Balanced Service Class		18,520,942		(13,532,656	)		4,988,286			44,448,252		(5,199,622	)		39,248,630
TA Legg Mason Dynamic Allocation - Growth Service Class		10,419,861		(12,819,994	)		(2,400,133	)		32,345,606		(4,306,038	)		28,039,568
TA Managed Risk - Balanced ETF Service Class		43,292,920		(47,232,335	)		(3,939,415	)		128,775,608		(25,094,107	)		103,681,501
TA Managed Risk - Conservative ETF Service Class		17,758,530		(17,783,569	)		(25,039	)		23,020,243		(13,061,806	)		9,958,437
TA Managed Risk - Growth ETF Service Class		49,705,298		(45,776,900	)		3,928,398			78,008,631		(47,974,681	)		30,033,950
TA Market Participation Strategy Service Class		6,765,167		(4,719,402	)		2,045,765			7,537,155		(2,666,817	)		4,870,338
TA MFS International Equity Initial Class		5,487		(15,522	)		(10,035	)		9,794		(3,375	)		6,419

46

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
TA MFS International Equity Service Class	$	3,365,585	$	(2,189,940	)	$	1,175,645		$	9,987,411	$	(912,277	)	$	9,075,134
TA Morgan Stanley Capital Growth Initial Class		21,655		(34,906	)		(13,251	)		29,675		(26,152	)		3,523
TA Morgan Stanley Capital Growth Service Class		2,592,048		(933,640	)		1,658,408			1,265,945		(671,138	)		594,807
TA Multi-Managed Balanced Initial Class		26,250		(52,507	)		(26,257	)		—		1			1
TA Multi-Managed Balanced Service Class		70,565,035		(3,375,952	)		67,189,083			4,892,827		(1,254,065	)		3,638,762
TA Multi-Manager Alternative Strategies Service Class		79,775		(5,915	)		73,860			115,296		(1,823	)		113,473
TA PIMCO Tactical - Balanced Service Class		7,420,343		(3,645,854	)		3,774,489			5,650,309		(2,041,524	)		3,608,785
TA PIMCO Tactical - Conservative Service Class		10,591,839		(3,537,875	)		7,053,964			9,828,648		(2,684,186	)		7,144,462
TA PIMCO Tactical - Growth Service Class		7,507,783		(6,534,388	)		973,395			16,090,501		(2,322,961	)		13,767,540
TA PIMCO Total Return Initial Class		208,538		(221,057	)		(12,519	)		13,067		(110,486	)		(97,419	)
TA PIMCO Total Return Service Class		15,268,543		(10,483,546	)		4,784,997			15,087,351		(10,948,054	)		4,139,297
TA PineBridge Inflation Opportunities Service Class		2,256,416		(2,034,239	)		222,177			2,520,313		(2,486,711	)		33,602
TA ProFunds UltraBear Service Class (OAM)		2,438,408		(1,800,267	)		638,141			1,323,194		(410,952	)		912,242
TA QS Investors Active Asset Allocation - Conservative Service Class		3,368,386		(5,170,147	)		(1,801,761	)		6,375,209		(3,184,839	)		3,190,370
TA QS Investors Active Asset Allocation - Moderate Service Class		5,611,464		(12,500,755	)		(6,889,291	)		14,552,000		(8,879,707	)		5,672,293
TA QS Investors Active Asset Allocation - Moderate Growth Service Class		3,135,792		(9,043,095	)		(5,907,303	)		16,072,453		(7,524,115	)		8,548,338
TA Small/Mid Cap Value Initial Class		12,125		(406,113	)		(393,988	)		175,037		(317,432	)		(142,395	)
TA Small/Mid Cap Value Service Class		1,984,453		(1,402,001	)		582,452			2,016,740		(1,094,200	)		922,540
TA T. Rowe Price Small Cap Initial Class		6,801		(26,850	)		(20,049	)		139,818		(185,651	)		(45,833	)
TA T. Rowe Price Small Cap Service Class		7,755,524		(4,922,906	)		2,832,618			6,003,982		(3,480,907	)		2,523,075
TA Torray Concentrated Growth Initial Class		36,527		(353,690	)		(317,163	)		—		(69,038	)		(69,038	)
TA Torray Concentrated Growth Service Class		479,755		(519,329	)		(39,574	)		1,382,423		(8,583,646	)		(7,201,223	)
TA TS&W International Equity Initial Class		25,149		(124,668	)		(99,519	)		15,588		(128,844	)		(113,256	)
TA TS&W International Equity Service Class		377,469		(297,454	)		80,015			1,272,999		(440,362	)		832,637
TA WMC US Growth Initial Class		3,194		(338,336	)		(335,142	)		51,076		(443,861	)		(392,785	)

47

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

4. Change in Unit Dollars (continued)

	Year Ended December 31, 2016								Year Ended December 31, 2015
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)
TA WMC US Growth Service Class	$	3,552,465	$	(1,949,211	)	$	1,603,254		$	12,292,506	$	(820,654	)	$	11,471,852
Vanguard® Equity Index		—		—			—			707,208		—			707,208
Vanguard® International		21,999		3			22,002			442,005		—			442,005
Vanguard® Mid-Cap Index		—		—			—			—		—			—
Vanguard® REIT Index		—		—			—			—		—			—
Vanguard® Short-Term Investment Grade		—		—			—			—		—			—
Vanguard® Total Bond Market Index		—		(1	)		(1	)		353,604		—			353,604
Voya Global Perspectives Class S Shares		—		—			—			—		—			—
Voya Large Cap Value Class S Shares		—		—			—			—		—			—
Voya Strategic Allocation Conservative Class S Shares		—		—			—			—		—			—
Voya Strategic Allocation Moderate Class S Shares		—		—			—			—		—			—
Wanger International		—		—			—			—		—			—
Wanger USA		—		—			—			—		—			—

48

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights

The Separate Account offers various death benefit options, which have differing fees that are charged against the contract owner’s account balance. These charges are discussed in more detail in the individual’s policy. Differences in the fee structures for these units result in different unit values, expense ratios, and total returns.    

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
AB Balanced Wealth Strategy Class B Shares
12/31/2016		2,023,694	$	12.01	to	$	11.35	$	4,215,929		1.84	%		0.65	%	to	2.20	%		3.77	%	to	2.18	%
12/31/2015		2,341,162		11.58	to		11.11		4,557,024		2.04			0.65		to	2.20			0.64		to	(0.91	)
12/31/2014		2,304,500		11.51	to		11.21		4,312,479		2.49			0.65		to	2.20			6.42		to	4.78
12/31/2013		2,238,170		1.66	to		1.60		3,726,476		2.29			1.35		to	2.15			14.72		to	13.83
12/31/2012		2,041,079		1.03	to		1.40		2,914,759		1.93			0.65		to	2.15			11.86		to	10.98
AB Growth and Income Class B Shares
12/31/2016		5,510,413		14.43	to		13.87		17,846,053		0.86			0.90		to	2.00			10.08		to	8.88
12/31/2015		5,217,993		13.11	to		12.74		14,390,342		1.24			0.90		to	2.00			0.52		to	(0.58	)
12/31/2014		5,064,436		13.04	to		12.81		12,486,991		1.19			0.90		to	2.00			8.31		to	7.13
12/31/2013		4,585,573		1.48	to		1.69		8,677,657		1.03			1.15		to	1.95			33.06		to	32.02
12/31/2012		3,598,175		1.11	to		1.28		4,938,122		1.85			1.15		to	1.95			15.90		to	14.99
AB Large Cap Growth Class B Shares
12/31/2016		217,408		2.02	to		1.99		447,199		—			1.15		to	1.95			1.19		to	0.40
12/31/2015		229,886		2.00	to		1.99		468,281		—			1.15		to	1.95			9.59		to	8.74
12/31/2014		251,314		1.82	to		1.83		465,125		—			1.15		to	1.95			12.54		to	11.66
12/31/2013		327,977		1.62	to		1.64		527,598		—			1.15		to	1.95			35.44		to	34.38
12/31/2012		398,027		1.20	to		1.22		474,803		0.03			1.15		to	1.95			15.37		to	14.46
American Funds—Asset Allocation Class 2 Shares
12/31/2016		17,001,645		12.88	to		12.16		45,745,822		1.86			0.75		to	2.30			8.59		to	6.93
12/31/2015		15,909,527		11.86	to		11.38		32,340,462		1.68			0.75		to	2.30			0.64		to	(0.91	)
12/31/2014		16,361,256		11.78	to		11.48		30,134,635		1.61			0.75		to	2.30			4.61		to	3.00
12/31/2013		14,533,866		1.56	to		1.51		23,115,662		1.55			1.45		to	2.25			21.92		to	20.97
12/31/2012		11,140,953		1.08	to		1.25		14,119,666		2.12			0.75		to	2.25			14.52		to	13.62
American Funds—Bond Class 2 Shares
12/31/2016		5,550,075		10.24	to		9.68		15,744,768		1.72			0.75		to	2.30			2.18		to	0.61
12/31/2015		5,462,357		10.03	to		9.62		12,577,030		1.79			0.75		to	2.30			(0.47	)	to	(2.01	)
12/31/2014		5,446,189		10.07	to		9.82		10,292,485		2.38			0.75		to	2.30			4.49		to	2.88
12/31/2013		4,887,114		1.09	to		1.06		6,408,763		2.06			1.45		to	2.25			(3.56	)	to	(4.31	)
12/31/2012		3,780,187		1.08	to		1.11		4,240,313		2.90			0.75		to	2.25			3.86		to	3.04
American Funds—Growth Class 2 Shares
12/31/2016		5,791,039		14.77	to		13.95		30,774,870		0.86			0.75		to	2.30			8.67		to	7.01
12/31/2015		5,846,107		13.59	to		13.04		25,212,890		0.64			0.75		to	2.30			6.06		to	4.43
12/31/2014		5,807,414		12.81	to		12.49		20,881,031		1.26			0.75		to	2.30			7.70		to	6.04
12/31/2013		3,642,635		1.65	to		1.60		7,965,095		1.03			1.45		to	2.25			28.24		to	27.24
12/31/2012		2,131,151		1.02	to		1.26		2,708,329		0.82			0.75		to	2.25			16.20		to	15.28
American Funds—Growth-Income Class 2 Shares
12/31/2016		6,196,880		14.69	to		13.88		24,020,712		1.60			0.75		to	2.30			10.69		to	8.99
12/31/2015		6,078,747		13.27	to		12.73		19,534,129		1.37			0.75		to	2.30			0.70		to	(0.85	)
12/31/2014		5,669,604		13.18	to		12.84		16,812,248		1.51			0.75		to	2.30			9.81		to	8.12
12/31/2013		4,007,265		1.63	to		1.58		8,516,932		1.73			1.45		to	2.25			31.59		to	30.56
12/31/2012		1,453,518		1.06	to		1.21		1,779,957		2.21			0.75		to	2.25			15.80		to	14.88
American Funds—International Class 2 Shares
12/31/2016		4,168,809		10.66	to		10.07		11,475,849		1.49			0.75		to	2.30			2.76		to	1.18
12/31/2015		4,190,015		10.37	to		9.95		10,292,784		1.11			0.75		to	2.30			(5.24	)	to	(6.70	)
12/31/2014		9,289,276		10.94	to		10.66		15,825,063		1.58			0.75		to	2.30			(3.38	)	to	(4.87	)
12/31/2013		8,123,217		1.23	to		1.19		11,020,474		1.54			1.45		to	2.25			19.90		to	18.96
12/31/2012		3,947,848		0.91	to		1.00		3,992,382		1.87			0.75		to	2.25			16.21		to	15.30

49

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
Fidelity® VIP Balanced Service Class 2
12/31/2016		9,610,359	$	13.02	to	$	12.30	$	21,131,382		1.13	%		0.45	%	to	2.00	%		6.50	%	to	4.87	%
12/31/2015		10,652,231		12.22	to		11.73		20,942,222		1.38			0.45		to	2.00			(0.09	)	to	(1.63	)
12/31/2014		10,374,254		12.23	to		11.92		18,248,581		1.52			0.45		to	2.00			9.52		to	7.84
12/31/2013		9,648,516		1.35	to		1.29		13,499,758		1.37			1.15		to	1.95			17.93		to	17.00
12/31/2012		9,447,576		1.18	to		1.10		10,651,429		1.62			0.45		to	1.95			13.51		to	12.61
Fidelity® VIP Contrafund® Initial Class
12/31/2016		—		14.35	to		14.17		—		—			0.65		to	1.00			7.31		to	6.93
12/31/2015		—		13.38	to		13.25		—		—			0.65		to	1.00			0.02		to	(0.33	)
12/31/2014		—		13.37	to		13.30		—		—			0.65		to	1.00			11.22		to	10.83
12/31/2013(1)		—		12.03	to		12.00		—		—			0.45		to	0.80			—		to	—
Fidelity® VIP Contrafund® Service Class 2
12/31/2016		6,870,488		14.09	to		13.54		34,500,882		0.67			0.90		to	2.00			6.77		to	5.60
12/31/2015		7,251,023		13.20	to		12.82		30,642,355		0.64			0.90		to	2.00			(0.48	)	to	(1.57	)
12/31/2014		10,107,714		13.26	to		13.02		34,518,197		1.00			0.90		to	2.00			10.65		to	9.44
12/31/2013		8,210,472		1.57	to		2.01		19,087,033		0.93			1.15		to	1.95			29.46		to	28.45
12/31/2012		4,107,844		1.22	to		1.57		6,453,894		1.30			1.15		to	1.95			14.81		to	13.91
Fidelity® VIP Equity-Income Service Class 2
12/31/2016		441,460		1.59	to		1.87		849,441		2.07			1.15		to	1.95			16.37		to	15.46
12/31/2015		522,920		1.37	to		1.62		881,845		2.83			1.15		to	1.95			(5.33	)	to	(6.07	)
12/31/2014		589,612		1.44	to		1.73		1,054,722		2.49			1.15		to	1.95			7.25		to	6.40
12/31/2013		656,829		1.35	to		1.62		1,096,377		2.19			1.15		to	1.95			26.37		to	25.38
12/31/2012		807,587		1.06	to		1.30		1,063,363		2.85			1.15		to	1.95			15.72		to	14.81
Fidelity® VIP Growth Service Class 2
12/31/2016		408,897		1.90	to		1.81		785,155		—			1.15		to	1.95			(0.59	)	to	(1.37	)
12/31/2015		427,939		1.91	to		1.83		832,825		0.03			1.15		to	1.95			5.69		to	4.86
12/31/2014		451,279		1.81	to		1.75		830,866		—			1.15		to	1.95			9.75		to	8.89
12/31/2013		483,216		1.65	to		1.61		810,427		0.04			1.15		to	1.95			34.45		to	33.40
12/31/2012		535,630		1.23	to		1.20		677,785		0.34			1.15		to	1.95			13.10		to	12.20
Fidelity® VIP Growth Opportunities Service Class 2
12/31/2016		1,283		1.83	to		1.36		1,792		0.05			1.25		to	1.55			(1.17	)	to	(1.46	)
12/31/2015		1,328		1.85	to		1.38		1,880		0.00			1.25		to	1.55			4.04		to	3.74
12/31/2014		1,374		1.78	to		1.33		1,872		0.01			1.25		to	1.55			10.57		to	10.24
12/31/2013		1,420		1.61	to		1.21		1,753		0.06			1.25		to	1.55			35.84		to	35.44
12/31/2012		1,465		1.18	to		0.89		1,333		0.16			1.25		to	1.55			17.84		to	17.49
Fidelity® VIP Mid Cap Initial Class
12/31/2016		—		14.36	to		14.18		—		—			0.65		to	1.00			11.51		to	11.12
12/31/2015		—		12.88	to		12.76		—		—			0.65		to	1.00			(2.03	)	to	(2.37	)
12/31/2014		—		13.15	to		13.07		—		—			0.65		to	1.00			5.60		to	5.23
12/31/2013(1)		—		12.45	to		12.42		—		—			0.45		to	0.80			—		to	—
Fidelity® VIP Mid Cap Service Class 2
12/31/2016		5,297,560		14.09	to		13.54		27,980,216		0.34			0.90		to	2.00			10.92		to	9.71
12/31/2015		5,521,714		12.71	to		12.34		24,624,604		0.27			0.90		to	2.00			(2.51	)	to	(3.58	)
12/31/2014		3,544,494		13.03	to		12.80		16,020,401		0.03			0.90		to	2.00			5.08		to	3.93
12/31/2013		2,403,396		1.71	to		2.53		6,821,182		0.31			1.15		to	1.95			34.33		to	33.27
12/31/2012		2,903,033		1.27	to		1.90		6,046,828		0.55			1.15		to	1.95			13.25		to	12.36
Fidelity® VIP Value Strategies Initial Class
12/31/2016		1,731		13.17	to		13.00		22,793		1.16			0.65		to	1.00			8.91		to	8.54
12/31/2015		1,731		12.09	to		11.98		20,931		1.17			0.65		to	1.00			(3.62	)	to	(3.95	)
12/31/2014		1,732		12.54	to		12.47		21,720		1.06			0.65		to	1.00			6.10		to	5.73
12/31/2013(1)		1,732		11.82	to		11.79		20,474		2.62			0.45		to	0.80			—		to	—

50

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
Fidelity® VIP Value Strategies Service Class 2
12/31/2016		2,168,759	$	12.91	to	$	12.41	$	10,823,952		1.00	%		0.90	%	to	2.00	%		8.30	%	to	7.11	%
12/31/2015		2,209,354		11.93	to		11.59		9,569,134		0.90			0.90		to	2.00			(4.06	)	to	(5.11	)
12/31/2014		4,363,341		12.43	to		12.21		15,028,804		1.33			0.90		to	2.00			5.56		to	4.40
12/31/2013		2,915,192		1.60	to		1.73		6,891,567		0.73			1.15		to	1.95			28.70		to	27.69
12/31/2012		1,121,443		1.24	to		1.36		1,912,777		0.44			1.15		to	1.95			25.61		to	24.62
Franklin Founding Funds Allocation Class 4 Shares
12/31/2016		1,941,404		1.95	to		1.83		3,694,259		3.71			1.30		to	2.10			11.48		to	10.61
12/31/2015		2,139,547		1.75	to		1.66		3,663,185		2.77			1.30		to	2.10			(7.44	)	to	(8.17	)
12/31/2014		2,570,942		1.89	to		1.80		4,770,440		2.69			1.30		to	2.10			1.43		to	0.64
12/31/2013		3,023,911		1.87	to		1.79		5,542,251		10.52			1.30		to	2.10			22.09		to	21.14
12/31/2012		3,389,714		1.03	to		1.48		5,106,586		2.60			0.60		to	2.10			13.69		to	12.79
Franklin Income Class 2 Shares
12/31/2016		2,549,956		1.37	to		1.27		3,477,568		4.92			1.15		to	1.95			12.73		to	11.85
12/31/2015		2,995,232		1.22	to		1.14		3,637,520		4.37			1.15		to	1.95			(8.11	)	to	(8.83	)
12/31/2014		6,650,565		1.33	to		1.25		8,687,407		4.96			1.15		to	1.95			3.43		to	2.61
12/31/2013		8,086,472		1.28	to		1.22		10,231,022		6.44			1.15		to	1.95			12.65		to	11.76
12/31/2012		9,333,469		1.14	to		1.09		10,518,336		6.22			1.15		to	1.95			11.37		to	10.49
Franklin Mutual Shares Class 2 Shares
12/31/2016		582,908		1.32	to		1.22		775,627		1.91			1.15		to	1.95			14.74		to	13.84
12/31/2015		686,274		1.15	to		1.07		795,342		3.09			1.15		to	1.95			(6.02	)	to	(6.76	)
12/31/2014		713,957		1.22	to		1.15		882,965		1.97			1.15		to	1.95			5.90		to	5.07
12/31/2013		785,500		1.15	to		1.09		918,292		2.05			1.15		to	1.95			26.80		to	25.81
12/31/2012		856,367		0.91	to		0.87		790,683		2.00			1.15		to	1.95			12.94		to	12.05
Franklin Templeton Foreign Class 2 Shares
12/31/2016		1,725,317		0.99	to		0.92		1,683,083		1.97			1.15		to	1.95			5.96		to	5.13
12/31/2015		1,871,388		0.93	to		0.87		1,727,313		3.20			1.15		to	1.95			(7.56	)	to	(8.28	)
12/31/2014		2,182,365		1.01	to		0.95		2,186,589		1.91			1.15		to	1.95			(12.14	)	to	(12.83	)
12/31/2013		2,585,791		1.15	to		1.09		2,954,460		2.47			1.15		to	1.95			21.57		to	20.62
12/31/2012		3,037,562		0.95	to		0.91		2,859,834		2.77			1.15		to	1.95			16.88		to	15.96
Invesco V.I. American Franchise Series II Shares
12/31/2016		125,436		1.49	to		1.44		183,985		—			1.15		to	1.95			0.86		to	0.07
12/31/2015		126,470		1.48	to		1.44		184,547		—			1.15		to	1.95			3.56		to	2.75
12/31/2014		128,301		1.43	to		1.40		181,411		—			1.15		to	1.95			6.94		to	6.10
12/31/2013		130,187		1.33	to		1.32		172,729		0.25			1.15		to	1.95			38.21		to	37.12
12/31/2012(1)		131,302		0.97	to		0.96		126,490		—			1.15		to	1.95			—		to	—
Invesco V.I. Value Opportunities Series II Shares
12/31/2016		270,675		1.30	to		1.43		375,945		0.08			1.15		to	1.95			16.58		to	15.67
12/31/2015		284,360		1.12	to		1.24		341,515		2.29			1.15		to	1.95			(11.67	)	to	(12.36	)
12/31/2014		297,786		1.27	to		1.41		407,212		1.15			1.15		to	1.95			5.18		to	4.35
12/31/2013		312,482		1.20	to		1.35		406,761		1.21			1.15		to	1.95			31.76		to	30.72
12/31/2012		317,094		0.91	to		1.03		314,505		1.10			1.15		to	1.95			16.31		to	15.39
Janus Aspen—Enterprise Service Shares
12/31/2016		97,516		2.48	to		3.00		290,893		0.72			1.15		to	1.95			10.83		to	9.97
12/31/2015		101,617		2.24	to		2.73		275,800		0.76			1.15		to	1.95			2.59		to	1.78
12/31/2014		116,940		2.18	to		2.68		294,150		0.03			1.15		to	1.95			10.97		to	10.10
12/31/2013		128,083		1.96	to		2.43		288,077		0.36			1.15		to	1.95			30.54		to	29.51
12/31/2012		132,473		1.50	to		1.88		229,592		—			1.15		to	1.95			15.65		to	14.74
Janus Aspen—Global Research Service Shares
12/31/2016		289,631		1.43	to		1.43		395,561		0.95			1.15		to	1.95			0.66		to	(0.12	)
12/31/2015		299,642		1.42	to		1.44		406,816		0.53			1.15		to	1.95			(3.64	)	to	(4.40	)
12/31/2014		308,504		1.48	to		1.50		436,369		0.94			1.15		to	1.95			5.96		to	5.13
12/31/2013		385,899		1.39	to		1.43		499,421		1.05			1.15		to	1.95			26.62		to	25.63
12/31/2012		436,257		1.10	to		1.14		447,699		0.76			1.15		to	1.95			18.49		to	17.56

51

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
Janus Aspen—Perkins Mid Cap Value Service Shares
12/31/2016		1,004	$	2.41	to	$	2.29	$	2,356		0.91	%		1.25	%	to	1.55	%		17.30	%	to	16.96	%
12/31/2015		1,039		2.06	to		1.96		2,083		1.04			1.25		to	1.55			(4.88	)	to	(5.16	)
12/31/2014		1,075		2.16	to		2.07		2,268		3.34			1.25		to	1.55			7.10		to	6.78
12/31/2013		1,111		2.02	to		1.94		2,193		1.13			1.25		to	1.55			24.26		to	23.89
12/31/2012		1,147		1.62	to		1.56		1,823		0.85			1.25		to	1.55			9.42		to	9.09
JPMorgan Insurance Trust Core Bond Class 1 Shares
12/31/2016		417,140		1.27	to		1.21		525,026		2.65			1.25		to	1.95			0.86		to	0.17
12/31/2015		500,032		1.26	to		1.21		624,029		3.69			1.25		to	1.95			(0.13	)	to	(0.81	)
12/31/2014		544,722		1.27	to		1.22		681,481		3.84			1.25		to	1.95			3.62		to	2.91
12/31/2013		596,681		1.22	to		1.18		721,721		4.80			1.25		to	1.95			(2.69	)	to	(3.35	)
12/31/2012		691,572		1.26	to		1.22		861,359		4.47			1.25		to	1.95			4.02		to	3.31
JPMorgan Insurance Trust Mid Cap Value Class 1 Shares
12/31/2016		52,138		3.11	to		2.95		161,765		0.86			1.25		to	1.95			13.28		to	12.51
12/31/2015		52,138		2.75	to		2.62		142,851		0.99			1.25		to	1.95			(3.86	)	to	(4.52	)
12/31/2014		52,138		2.86	to		2.75		148,638		0.78			1.25		to	1.95			13.69		to	12.91
12/31/2013		52,141		2.51	to		2.43		130,801		1.00			1.25		to	1.95			30.67		to	29.77
12/31/2012		52,144		1.92	to		1.87		100,145		1.04			1.25		to	1.95			18.88		to	18.06
JPMorgan Insurance Trust Small Cap Core Class 1 Shares
12/31/2016		2,590		3.12	to		2.96		8,007		0.52			1.25		to	1.95			18.73		to	17.92
12/31/2015		2,637		2.63	to		2.51		6,877		0.14			1.25		to	1.95			(6.45	)	to	(7.09	)
12/31/2014		2,687		2.81	to		2.70		7,500		0.14			1.25		to	1.95			8.24		to	7.50
12/31/2013		2,738		2.60	to		2.52		7,070		0.77			1.25		to	1.95			40.54		to	39.58
12/31/2012		7,078		1.85	to		1.80		13,016		0.20			1.25		to	1.95			18.24		to	17.43
JPMorgan Insurance Trust U.S. Equity Class 1 Shares
12/31/2016		25,556		2.82	to		2.68		71,808		0.98			1.25		to	1.95			9.57		to	8.82
12/31/2015		25,897		2.58	to		2.46		66,448		1.12			1.25		to	1.95			(0.38	)	to	(1.07	)
12/31/2014		26,225		2.59	to		2.49		67,588		0.91			1.25		to	1.95			12.50		to	11.72
12/31/2013		26,525		2.30	to		2.23		60,806		1.23			1.25		to	1.95			34.54		to	33.61
12/31/2012		26,813		1.71	to		1.67		45,715		1.48			1.25		to	1.95			16.19		to	15.38
MFS® New Discovery Service Class
12/31/2016		728,669		2.12	to		1.99		1,699,029		—			1.15		to	1.95			7.57		to	6.72
12/31/2015		840,975		1.98	to		1.86		1,819,446		—			1.15		to	1.95			(3.26	)	to	(4.02	)
12/31/2014		986,222		2.04	to		1.94		2,228,226		—			1.15		to	1.95			(8.55	)	to	(9.26	)
12/31/2013		2,827,122		2.23	to		2.14		7,243,325		—			1.15		to	1.95			39.61		to	38.52
12/31/2012		3,306,787		1.60	to		1.54		6,060,367		—			1.15		to	1.95			19.52		to	18.57
MFS® Total Return Service Class
12/31/2016		1,048,659		1.57	to		1.69		1,824,238		2.68			1.15		to	1.95			7.58		to	6.74
12/31/2015		1,107,681		1.46	to		1.58		1,794,787		2.37			1.15		to	1.95			(1.71	)	to	(2.48	)
12/31/2014		1,155,873		1.49	to		1.62		1,913,348		1.70			1.15		to	1.95			7.01		to	6.17
12/31/2013		1,224,187		1.39	to		1.53		1,903,955		1.63			1.15		to	1.95			17.39		to	16.47
12/31/2012		1,346,339		1.18	to		1.31		1,788,262		2.48			1.15		to	1.95			9.67		to	8.80
State Street Total Return V.I.S. Class 3 Shares
12/31/2016		1,363,223		11.59	to		10.95		2,313,919		1.77			0.65		to	2.20			5.39		to	3.78
12/31/2015		1,266,778		11.00	to		10.55		1,849,112		1.47			0.65		to	2.20			(1.98	)	to	(3.49	)
12/31/2014		1,449,643		11.22	to		10.94		2,041,207		1.51			0.65		to	2.20			4.39		to	2.79
12/31/2013		1,490,526		1.30	to		1.26		1,940,897		1.28			1.35		to	2.15			13.11		to	12.23
12/31/2012		1,479,898		1.02	to		1.12		1,683,942		1.64			0.65		to	2.15			10.75		to	9.88
TA Aegon High Yield Bond Initial Class
12/31/2016		36,425		11.43	to		1.85		98,517		5.97			0.45		to	1.90			14.83		to	13.20
12/31/2015		53,786		9.95	to		1.63		120,077		6.26			0.45		to	1.90			(4.65	)	to	(6.01	)
12/31/2014		67,661		10.44	to		1.74		155,404		5.46			0.45		to	1.90			3.51		to	2.04
12/31/2013		62,132		1.19	to		1.70		140,297		5.39			0.45		to	1.90			6.12		to	4.61
12/31/2012		86,074		1.66	to		1.63		164,087		6.02			0.45		to	1.90			15.91		to	15.17

52

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA Aegon High Yield Bond Service Class
12/31/2016		2,268,819	$	11.15	to	$	10.71	$	6,641,135		5.69	%		0.90	%	to	2.00	%		13.97	%	to	12.73	%
12/31/2015		2,568,185		9.78	to		9.50		5,904,739		6.14			0.90		to	2.00			(5.16	)	to	(6.19	)
12/31/2014		2,664,043		10.31	to		10.13		5,933,436		5.62			0.90		to	2.00			2.68		to	1.55
12/31/2013		2,593,445		1.60	to		1.70		4,808,613		5.82			1.15		to	1.95			5.12		to	4.29
12/31/2012		1,977,400		1.52	to		1.63		3,311,088		5.53			1.15		to	1.95			15.76		to	14.85
TA Aegon Government Money Market Initial Class
12/31/2016		58,892		1.00	to		0.92		78,249		0.01			1.25		to	1.90			(1.22	)	to	(1.85	)
12/31/2015		106,547		1.02	to		0.94		143,537		0.01			1.25		to	1.90			(1.23	)	to	(1.86	)
12/31/2014		126,305		1.03	to		0.96		172,527		0.01			1.25		to	1.90			(1.23	)	to	(1.86	)
12/31/2013		268,180		1.04	to		0.97		371,427		0.01			1.25		to	1.90			(1.23	)	to	(1.86	)
12/31/2012		323,812		1.05	to		0.99		454,737		0.01			1.25		to	1.90			(1.24	)	to	(1.87	)
TA Aegon Government Money Market Service Class
12/31/2016		12,254,624		9.84	to		9.29		36,408,179		0.01			0.45		to	2.00			(0.44	)	to	(1.97	)
12/31/2015		10,390,576		9.88	to		9.48		47,562,444		0.01			0.45		to	2.00			(0.44	)	to	(1.98	)
12/31/2014		13,187,371		9.93	to		9.67		63,067,404		0.01			0.45		to	2.00			(0.44	)	to	(1.98	)
12/31/2013		19,530,196		0.99	to		0.95		41,003,054		—			0.45		to	1.95			(0.44	)	to	(1.91	)
12/31/2012		13,671,844		1.00	to		0.97		13,803,900		0.01			0.45		to	1.95			(0.99	)	to	(1.92	)
TA Aegon U.S. Government Securities Initial Class
12/31/2016		127,683		1.45	to		1.25		251,979		0.88			1.25		to	1.90			(0.93	)	to	(1.56	)
12/31/2015		153,991		1.46	to		1.27		307,218		2.22			1.25		to	1.90			(1.14	)	to	(1.77	)
12/31/2014		184,056		1.48	to		1.29		371,973		3.93			1.25		to	1.90			3.36		to	2.70
12/31/2013		200,641		1.43	to		1.26		392,878		2.36			1.25		to	1.90			(3.44	)	to	(4.06	)
12/31/2012		218,889		1.48	to		1.31		444,550		1.63			1.25		to	1.90			3.84		to	3.17
TA Aegon U.S. Government Securities Service Class
12/31/2016		19,883,084		9.90	to		9.36		72,397,578		0.44			0.45		to	2.00			(0.31	)	to	(1.84	)
12/31/2015		19,794,265		9.93	to		9.53		70,779,519		1.42			0.45		to	2.00			(0.62	)	to	(2.15	)
12/31/2014		14,098,292		10.00	to		9.74		32,526,271		3.72			0.45		to	2.00			3.95		to	2.35
12/31/2013		14,372,501		1.00	to		1.20		26,764,225		2.28			0.45		to	1.95			(2.92	)	to	(4.35	)
12/31/2012		22,228,708		1.25	to		1.27		28,835,995		1.70			0.45		to	1.95			3.82		to	2.85
TA American Funds Managed Risk—Balanced Service Class
12/31/2016		2,676,423		10.16	to		9.90		26,789,196		0.61			0.45		to	2.00			5.94		to	4.31
12/31/2015(1)		977,622		9.59	to		9.49		9,319,240		—			0.45		to	2.00			—		to	—
TA AB Dynamic Allocation Initial Class
12/31/2016		35,803		1.68	to		1.35		58,884		1.50			1.25		to	1.90			0.97		to	0.32
12/31/2015		40,362		1.66	to		1.35		65,845		1.27			1.25		to	1.90			(1.31	)	to	(1.94	)
12/31/2014		40,726		1.69	to		1.37		67,420		1.03			1.25		to	1.90			4.26		to	3.59
12/31/2013		41,058		1.62	to		1.32		65,291		1.17			1.25		to	1.90			5.86		to	5.19
12/31/2012		39,894		1.53	to		1.26		60,017		0.85			1.25		to	1.90			4.82		to	4.15
TA AB Dynamic Allocation Service Class
12/31/2016		8,614,962		10.78	to		10.19		22,289,282		1.25			0.45		to	2.00			1.53		to	(0.02	)
12/31/2015		9,406,732		10.62	to		10.19		21,064,949		1.05			0.45		to	2.00			(0.87	)	to	(2.39	)
12/31/2014		10,378,014		10.71	to		10.44		20,046,123		0.83			0.45		to	2.00			4.88		to	3.27
12/31/2013		10,720,245		1.10	to		1.33		15,864,132		0.98			0.45		to	1.95			6.41		to	4.84
12/31/2012		9,833,210		1.12	to		1.27		12,209,061		0.75			0.45		to	1.95			4.59		to	3.76
TA Asset Allocation—Conservative Initial Class
12/31/2016		9,676		1.69	to		1.42		16,042		2.03			1.25		to	1.90			3.33		to	2.68
12/31/2015		9,676		1.64	to		1.38		15,547		2.66			1.25		to	1.90			(3.17	)	to	(3.79	)
12/31/2014		35,716		1.69	to		1.44		59,352		2.70			1.25		to	1.90			0.93		to	0.28
12/31/2013		35,716		1.68	to		1.43		58,894		3.83			1.25		to	1.90			8.02		to	7.33
12/31/2012		67,315		1.55	to		1.34		102,912		3.41			1.25		to	1.90			6.13		to	5.45

53

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA Asset Allocation—Conservative Service Class
12/31/2016		23,849,251	$	10.83	to	$	10.23	$	60,565,402		1.78	%		0.45	%	to	2.00	%		3.84	%	to	2.24	%
12/31/2015		29,281,139		10.43	to		10.01		64,424,762		2.02			0.45		to	2.00			(2.58	)	to	(4.08	)
12/31/2014		31,677,104		10.70	to		10.43		61,576,298		2.49			0.45		to	2.00			1.49		to	(0.07	)
12/31/2013		33,312,344		1.13	to		1.45		54,439,830		3.00			0.45		to	1.95			8.60		to	7.00
12/31/2012		31,209,493		1.04	to		1.35		43,570,834		3.07			0.45		to	1.95			5.97		to	5.14
TA Asset Allocation—Growth Initial Class
12/31/2016		30,761		1.84	to		1.61		55,366		1.27			1.25		to	1.90			4.77		to	4.10
12/31/2015		82,219		1.76	to		1.54		141,457		1.65			1.25		to	1.90			(3.14	)	to	(3.76	)
12/31/2014		82,871		1.81	to		1.61		147,420		2.36			1.25		to	1.90			1.46		to	0.81
12/31/2013		83,520		1.79	to		1.59		146,651		0.79			1.25		to	1.90			25.25		to	24.45
12/31/2012		45,481		1.43	to		1.28		63,855		1.29			1.25		to	1.90			11.20		to	10.49
TA Asset Allocation—Growth Service Class
12/31/2016		2,822,565		12.15	to		11.48		7,545,147		1.99			0.45		to	2.00			5.35		to	3.73
12/31/2015		3,005,299		11.53	to		11.06		6,787,813		1.48			0.45		to	2.00			(2.55	)	to	(4.06	)
12/31/2014		3,471,873		11.83	to		11.53		6,835,481		2.10			0.45		to	2.00			1.98		to	0.41
12/31/2013		3,835,267		1.32	to		1.63		6,095,272		1.03			0.45		to	1.95			25.82		to	23.97
12/31/2012		3,079,013		1.05	to		1.32		3,927,834		1.08			0.45		to	1.95			11.11		to	10.23
TA Asset Allocation—Moderate Initial Class
12/31/2016		513,502		1.80	to		1.53		903,679		2.32			1.25		to	1.90			4.26		to	3.60
12/31/2015		477,423		1.72	to		1.48		807,013		2.04			1.25		to	1.90			(3.43	)	to	(4.05	)
12/31/2014		508,985		1.79	to		1.54		892,285		2.15			1.25		to	1.90			1.50		to	0.85
12/31/2013		615,879		1.76	to		1.52		1,065,321		2.45			1.25		to	1.90			12.10		to	11.38
12/31/2012		625,757		1.57	to		1.37		967,012		2.67			1.25		to	1.90			8.08		to	7.39
TA Asset Allocation—Moderate Service Class
12/31/2016		104,593,983		11.17	to		10.56		281,768,454		1.96			0.45		to	2.00			4.78		to	3.18
12/31/2015		111,980,841		10.66	to		10.23		279,599,191		1.85			0.45		to	2.00			(2.91	)	to	(4.41	)
12/31/2014		119,812,391		10.98	to		10.70		289,657,459		2.15			0.45		to	2.00			2.15		to	0.58
12/31/2013		115,593,525		1.18	to		1.55		221,957,877		2.30			0.45		to	1.95			12.73		to	11.07
12/31/2012		96,011,691		1.05	to		1.39		141,669,166		2.66			0.45		to	1.95			7.86		to	7.01
TA Asset Allocation—Moderate Growth Initial Class
12/31/2016		211,341		1.85	to		1.59		387,179		2.10			1.25		to	1.90			5.23		to	4.57
12/31/2015		149,672		1.76	to		1.52		261,989		2.19			1.25		to	1.90			(3.44	)	to	(4.06	)
12/31/2014		186,731		1.82	to		1.59		337,554		2.82			1.25		to	1.90			1.31		to	0.66
12/31/2013		153,714		1.80	to		1.58		275,097		2.41			1.25		to	1.90			17.91		to	17.16
12/31/2012		214,324		1.52	to		1.35		324,237		2.46			1.25		to	1.90			9.27		to	8.57
TA Asset Allocation—Moderate Growth Service Class
12/31/2016		57,499,076		11.66	to		11.02		162,356,929		1.79			0.45		to	2.00			5.78		to	4.16
12/31/2015		61,880,963		11.02	to		10.58		153,403,905		2.01			0.45		to	2.00			(2.96	)	to	(4.45	)
12/31/2014		66,510,851		11.36	to		11.07		151,210,658		2.59			0.45		to	2.00			1.99		to	0.42
12/31/2013		68,282,174		1.24	to		1.61		128,458,358		2.12			0.45		to	1.95			18.51		to	16.77
12/31/2012		65,243,774		1.05	to		1.38		93,631,084		2.29			0.45		to	1.95			9.11		to	8.25
TA Barrow Hanley Dividend Focused Initial Class
12/31/2016		1,213,323		14.36	to		2.01		3,032,677		2.05			0.45		to	1.90			14.40		to	12.78
12/31/2015		1,486,892		12.55	to		1.78		3,270,068		1.89			0.45		to	1.90			(4.03	)	to	(5.39	)
12/31/2014		1,664,774		13.08	to		1.89		3,844,650		1.34			0.45		to	1.90			11.67		to	10.08
12/31/2013		1,867,664		1.37	to		1.71		3,838,988		2.31			0.45		to	1.90			29.66		to	27.82
12/31/2012		2,195,072		1.15	to		1.34		3,506,520		1.82			0.45		to	1.90			10.34		to	9.63
TA Barrow Hanley Dividend Focused Service Class
12/31/2016		5,972,559		13.98	to		13.44		19,563,340		2.20			0.90		to	2.00			13.57		to	12.33
12/31/2015		4,581,223		12.31	to		11.96		12,481,040		1.56			0.90		to	2.00			(4.69	)	to	(5.74	)
12/31/2014		2,227,705		12.92	to		12.69		6,012,268		1.25			0.90		to	2.00			10.93		to	9.72
12/31/2013		2,042,352		1.28	to		1.82		4,214,038		2.26			1.15		to	1.95			28.45		to	27.44
12/31/2012		5,187,651		1.00	to		1.43		7,871,863		1.74			1.15		to	1.95			10.20		to	9.33

54

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA BlackRock Equity Smart Beta 100 Service Class
12/31/2016(1)		107,409	$	10.55	to	$	10.43	$	1,126,448		—	%		0.45	%	to	2.00	%		—	%	to	—	%
TA BlackRock Global Allocation Service Class
12/31/2016		29,085,578		11.17	to		10.53		62,055,519		0.38			0.45		to	2.00			4.09		to	2.49
12/31/2015		32,066,493		10.73	to		10.28		56,381,328		1.72			0.45		to	2.00			(1.67	)	to	(3.18	)
12/31/2014		33,949,110		10.91	to		10.62		56,800,395		1.75			0.45		to	2.00			1.29		to	(0.36	)
12/31/2013		36,030,640		1.18	to		1.47		55,988,891		1.13			0.45		to	2.05			13.92		to	12.13
12/31/2012		34,316,080		1.04	to		1.31		45,873,956		2.33			0.45		to	2.05			8.61		to	7.76
TA BlackRock Global Allocation Managed Risk—Balanced Service Class
12/31/2016		770,157		9.53	to		9.22		7,203,419		1.96			0.45		to	2.00			(0.08	)	to	(1.61	)
12/31/2015(1)		348,633		9.54	to		9.37		3,294,098		—			0.45		to	2.00			—		to	—
TA BlackRock Global Allocation Managed Risk—Growth Service Class
12/31/2016		802,785		9.28	to		8.98		7,315,682		2.25			0.45		to	2.00			(0.64	)	to	(2.16	)
12/31/2015(1)		491,576		9.34	to		9.18		4,545,309		—			0.45		to	2.00			—		to	—
TA BlackRock Smart Beta 50 Service Class
12/31/2016(1)		345,827		10.23	to		10.11		3,516,806		—			0.45		to	2.00			—		to	—
TA BlackRock Smart Beta 75 Service Class
12/31/2016(1)		81,476		10.30	to		10.18		833,826		—			0.45		to	2.00			—		to	—
TA BlackRock Tactical Allocation Service Class
12/31/2016		32,609,979		11.55	to		10.92		100,557,415		2.32			0.45		to	2.00			4.44		to	2.84
12/31/2015		33,725,251		11.06	to		10.61		94,383,584		1.78			0.45		to	2.00			(0.57	)	to	(2.10	)
12/31/2014		34,968,108		11.13	to		10.84		87,586,850		1.30			0.45		to	2.00			4.60		to	2.99
12/31/2013		33,268,265		1.18	to		1.59		66,492,168		1.34			0.45		to	1.95			11.84		to	10.20
12/31/2012		24,436,673		1.05	to		1.44		35,871,490		1.48			0.45		to	1.95			8.76		to	7.90
TA Clarion Global Real Estate Securities Initial Class
12/31/2016		8,553		10.37	to		2.01		22,037		1.76			0.45		to	1.90			0.17		to	(1.25	)
12/31/2015		8,987		10.35	to		2.04		23,333		3.42			0.45		to	1.90			(1.05	)	to	(2.46	)
12/31/2014		14,673		10.46	to		2.09		38,903		1.46			0.45		to	1.90			13.06		to	11.45
12/31/2013		22,067		1.19	to		1.87		52,521		5.49			0.45		to	1.90			3.43		to	1.96
12/31/2012		22,372		1.39	to		1.84		51,946		3.56			0.45		to	1.90			23.70		to	22.91
TA Clarion Global Real Estate Securities Service Class
12/31/2016		1,703,876		10.11	to		9.72		5,721,454		1.43			0.90		to	2.00			(0.48	)	to	(1.56	)
12/31/2015		1,889,106		10.16	to		9.87		5,829,195		4.20			0.90		to	2.00			(1.76	)	to	(2.83	)
12/31/2014		2,083,565		10.34	to		10.16		5,463,539		1.36			0.90		to	2.00			12.28		to	11.05
12/31/2013		1,851,330		1.11	to		1.89		3,363,372		5.47			1.15		to	1.95			2.53		to	1.72
12/31/2012		1,368,300		1.08	to		1.85		2,269,443		3.57			1.15		to	1.95			23.55		to	22.58
TA International Moderate Growth Service Class
12/31/2016		19,645,357		10.32	to		9.75		41,499,204		1.87			0.45		to	2.00			0.62		to	(0.92	)
12/31/2015		21,891,483		10.26	to		9.84		43,094,351		1.82			0.45		to	2.00			(2.32	)	to	(3.83	)
12/31/2014		21,845,760		10.50	to		10.23		35,391,209		2.15			0.45		to	2.00			(1.23	)	to	(2.75	)
12/31/2013		21,520,089		1.19	to		1.03		27,779,613		1.84			0.45		to	1.95			11.96		to	10.31
12/31/2012		18,158,917		1.06	to		0.94		17,563,626		2.83			0.45		to	1.95			11.20		to	10.32
TA Janus Balanced Service Class
12/31/2016		17,165,988		12.25	to		11.57		66,683,993		1.09			0.45		to	2.00			3.65		to	2.06
12/31/2015		14,140,653		11.82	to		11.34		50,716,781		0.83			0.45		to	2.00			(0.33	)	to	(1.86	)
12/31/2014		11,828,480		11.86	to		11.55		35,378,527		0.69			0.45		to	2.00			7.35		to	5.69
12/31/2013		9,040,332		1.26	to		1.12		15,597,184		0.70			0.45		to	1.95			18.49		to	16.74
12/31/2012		3,547,649		1.06	to		0.96		3,462,061		—			0.45		to	1.95			11.21		to	10.34
TA Janus Mid-Cap Growth Initial Class
12/31/2016		32,509		11.40	to		1.88		47,880		—			0.45		to	1.90			(2.48	)	to	(3.87	)
12/31/2015		24,339		11.69	to		1.95		33,445		—			0.45		to	1.90			(5.46	)	to	(6.80	)
12/31/2014		28,385		12.36	to		2.10		41,630		—			0.45		to	1.90			(0.43	)	to	(1.85	)
12/31/2013		36,941		1.39	to		2.14		54,906		0.81			0.45		to	1.90			38.52		to	36.55
12/31/2012		38,621		1.58	to		1.56		41,828		—			0.45		to	1.90			7.73		to	7.04

55

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA Janus Mid-Cap Growth Service Class
12/31/2016		1,076,773	$	11.10	to	$	10.67	$	3,562,151		—	%		0.90	%	to	2.00	%		(3.18	)%	to	(4.23	)%
12/31/2015		1,283,293		11.47	to		11.14		3,821,907		—			0.90		to	2.00			(6.11	)	to	(7.14	)
12/31/2014		1,405,002		12.21	to		12.00		4,158,692		—			0.90		to	2.00			(1.15	)	to	(2.24	)
12/31/2013		1,427,218		2.03	to		2.02		3,367,567		0.60			1.15		to	1.95			37.25		to	36.17
12/31/2012		1,851,803		1.48	to		1.49		2,936,120		—			1.15		to	1.95			7.53		to	6.68
TA Jennison Growth Initial Class
12/31/2016		840,949		15.07	to		2.13		1,422,270		—			0.45		to	1.90			(2.09	)	to	(3.48	)
12/31/2015		1,148,264		15.39	to		2.20		2,001,597		—			0.45		to	1.90			10.90		to	9.33
12/31/2014		1,307,658		13.88	to		2.01		2,074,564		—			0.45		to	1.90			9.46		to	7.91
12/31/2013		1,426,689		1.46	to		1.87		2,088,334		0.26			0.45		to	1.90			37.09		to	35.14
12/31/2012		1,707,271		1.35	to		1.38		1,840,076		0.07			0.45		to	1.90			14.33		to	13.60
TA Jennison Growth Service Class
12/31/2016		4,656,507		14.68	to		14.11		16,155,829		—			0.90		to	2.00			(2.78	)	to	(3.84	)
12/31/2015		5,878,652		15.10	to		14.67		18,662,985		—			0.90		to	2.00			10.12		to	8.91
12/31/2014		4,747,106		13.72	to		13.47		12,818,115		—			0.90		to	2.00			8.81		to	7.62
12/31/2013		4,408,276		1.78	to		1.85		9,292,701		0.07			1.15		to	1.95			35.74		to	34.67
12/31/2012		3,985,152		1.31	to		1.37		5,977,859		—			1.15		to	1.95			14.09		to	13.19
TA JPMorgan Core Bond Service Class
12/31/2016		9,984,860		10.27	to		9.70		27,671,195		1.90			0.45		to	2.00			1.60		to	0.04
12/31/2015		9,485,030		10.10	to		9.70		20,112,573		1.87			0.45		to	2.00			(0.11	)	to	(1.65	)
12/31/2014		8,490,749		10.12	to		9.86		15,198,187		1.95			0.45		to	2.00			4.63		to	3.02
12/31/2013		5,404,361		1.01	to		1.03		7,409,619		2.83			0.45		to	1.95			(2.57	)	to	(4.00	)
12/31/2012		4,215,614		1.10	to		1.07		4,541,364		2.84			0.45		to	1.95			3.56		to	2.74
TA JPMorgan Enhanced Index Initial Class
12/31/2016		206,326		14.85	to		2.00		610,859		0.39			0.45		to	1.90			10.85		to	9.28
12/31/2015		236,425		13.40	to		1.83		634,049		0.97			0.45		to	1.90			(0.52	)	to	(1.94	)
12/31/2014		261,524		13.47	to		1.86		655,455		0.80			0.45		to	1.90			13.67		to	12.06
12/31/2013		244,348		1.45	to		1.66		541,382		0.64			0.45		to	1.90			31.92		to	30.05
12/31/2012		260,637		1.29	to		1.28		442,008		1.21			0.45		to	1.90			14.91		to	14.17
TA JPMorgan Enhanced Index Service Class
12/31/2016		466,902		14.48	to		13.92		4,419,905		0.16			0.90		to	2.00			10.13		to	8.93
12/31/2015		378,610		13.15	to		12.78		1,978,768		0.81			0.90		to	2.00			(1.25	)	to	(2.33	)
12/31/2014		447,817		13.32	to		13.08		2,099,233		0.75			0.90		to	2.00			12.95		to	11.71
12/31/2013		223,242		1.54	to		1.71		448,924		0.53			1.15		to	1.95			30.63		to	29.61
12/31/2012		150,883		1.18	to		1.32		192,454		0.97			1.15		to	1.95			14.77		to	13.86
TA JPMorgan Mid Cap Value Service Class
12/31/2016		5,651,589		14.75	to		13.93		26,255,068		1.90			0.45		to	2.00			13.77		to	12.02
12/31/2015		5,733,005		12.96	to		12.44		20,803,900		0.76			0.45		to	2.00			(3.37	)	to	(4.86	)
12/31/2014		5,723,903		13.41	to		13.07		20,447,452		0.64			0.45		to	2.00			14.47		to	12.71
12/31/2013		4,415,296		1.49	to		1.88		10,486,357		0.38			0.45		to	1.95			30.88		to	28.95
12/31/2012		3,860,875		1.14	to		1.46		5,704,726		0.75			0.45		to	1.95			18.86		to	17.93
TA JPMorgan Tactical Allocation Service Class
12/31/2016		22,814,234		11.05	to		10.44		83,825,181		1.16			0.45		to	2.00			3.73		to	2.13
12/31/2015		22,739,979		10.65	to		10.22		70,466,542		1.14			0.45		to	2.00			(0.85	)	to	(2.37	)
12/31/2014		20,676,779		10.74	to		10.47		51,151,249		0.96			0.45		to	2.00			5.80		to	4.18
12/31/2013		19,949,918		1.10	to		1.08		30,794,952		1.02			0.45		to	1.95			4.82		to	3.28
12/31/2012		14,296,793		1.07	to		1.05		15,073,054		0.63			0.45		to	1.95			6.24		to	5.40
TA Legg Mason Dynamic Allocation—Balanced Service Class
12/31/2016		22,101,622		10.79	to		10.19		96,492,892		1.10			0.45		to	2.00			(1.11	)	to	(2.63	)
12/31/2015		24,115,700		10.91	to		10.47		93,488,870		0.91			0.45		to	2.00			(2.52	)	to	(4.02	)
12/31/2014		16,981,768		11.19	to		10.91		57,286,673		0.66			0.45		to	2.00			8.00		to	6.33
12/31/2013		14,019,229		1.08	to		1.08		26,970,451		0.21			0.45		to	1.95			8.88		to	7.28
12/31/2012(1)		4,608,121		1.02	to		1.01		4,653,300		—			0.45		to	1.95			—		to	—

56

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA Legg Mason Dynamic Allocation—Growth Service Class
12/31/2016		15,446,885	$	11.07	to	$	10.46	$	62,664,292		0.99	%		0.45	%	to	2.00	%		(1.43	)%	to	(2.94	)%
12/31/2015		16,046,497		11.23	to		10.77		66,569,685		0.69			0.45		to	2.00			(3.38	)	to	(4.87	)
12/31/2014		12,452,814		11.62	to		11.33		41,526,468		0.57			0.45		to	2.00			7.69		to	6.04
12/31/2013		9,288,777		1.14	to		1.14		20,070,907		0.19			0.45		to	1.95			15.09		to	13.40
12/31/2012(1)		2,788,564		1.01	to		1.00		2,801,716		—			0.45		to	1.95			—		to	—
TA Managed Risk—Balanced ETF Service Class
12/31/2016		127,929,980		11.09	to		10.48		438,296,472		1.66			0.45		to	2.00			3.29		to	1.70
12/31/2015		140,114,274		10.74	to		10.30		432,034,799		1.30			0.45		to	2.00			(2.21	)	to	(3.71	)
12/31/2014		136,879,690		10.98	to		10.70		342,152,293		0.95			0.45		to	2.00			4.08		to	2.48
12/31/2013		129,881,636		1.16	to		1.17		209,472,792		1.09			0.45		to	1.95			10.93		to	9.30
12/31/2012		92,769,802		1.15	to		1.07		103,256,948		1.28			0.45		to	1.95			7.32		to	6.31
TA Managed Risk—Conservative ETF Service Class
12/31/2016		33,427,887		11.05	to		10.44		88,366,488		1.62			0.45		to	2.00			3.61		to	2.02
12/31/2015		37,681,242		10.67	to		10.24		86,100,597		1.49			0.45		to	2.00			(1.13	)	to	(2.65	)
12/31/2014		40,013,205		10.79	to		10.52		77,921,336		1.25			0.45		to	2.00			4.77		to	3.16
12/31/2013		35,123,308		1.11	to		1.19		52,461,737		1.34			0.45		to	1.95			6.99		to	5.41
12/31/2012		32,111,247		1.05	to		1.13		37,084,247		1.08			0.45		to	1.95			5.56		to	4.57
TA Managed Risk—Growth ETF Service Class
12/31/2016		122,841,558		11.43	to		10.80		354,352,467		1.66			0.45		to	2.00			4.20		to	2.60
12/31/2015		130,279,773		10.97	to		10.53		339,220,776		1.48			0.45		to	2.00			(3.95	)	to	(5.43	)
12/31/2014		139,255,241		11.42	to		11.13		326,832,308		1.06			0.45		to	2.00			3.51		to	1.91
12/31/2013		122,516,985		1.26	to		1.19		196,467,643		1.25			0.45		to	1.95			18.25		to	16.51
12/31/2012		79,318,618		1.10	to		1.02		84,454,388		1.65			0.45		to	1.95			10.44		to	9.41
TA Market Participation Strategy Service Class
12/31/2016		8,820,580		11.77	to		11.12		34,140,280		0.16			0.45		to	2.00			3.70		to	2.10
12/31/2015		8,065,884		11.35	to		10.89		31,264,212		—			0.45		to	2.00			(3.68	)	to	(5.16	)
12/31/2014		6,502,270		11.78	to		11.48		27,861,249		—			0.45		to	2.00			7.56		to	5.91
12/31/2013		4,873,843		1.13	to		1.11		12,392,847		—			0.45		to	1.95			13.78		to	12.11
12/31/2012(1)		728,061		0.99	to		0.99		720,954		—			0.45		to	1.95			—		to	—
TA MFS International Equity Initial Class
12/31/2016		46,174		10.48	to		1.57		61,836		1.54			0.45		to	1.90			(0.37	)	to	(1.78	)
12/31/2015		53,642		10.52	to		1.60		72,782		1.60			0.45		to	1.90			(0.37	)	to	(1.79	)
12/31/2014		49,145		10.56	to		1.63		67,563		0.96			0.45		to	1.90			(5.60	)	to	(6.94	)
12/31/2013		49,155		1.33	to		1.75		72,262		1.15			0.45		to	1.90			17.56		to	15.89
12/31/2012		49,166		1.43	to		1.51		62,062		1.64			0.45		to	1.90			20.64		to	19.87
TA MFS International Equity Service Class
12/31/2016		5,268,104		10.22	to		9.82		13,345,400		1.35			0.90		to	2.00			(1.03	)	to	(2.11	)
12/31/2015		5,061,054		10.33	to		10.03		12,388,616		1.27			0.90		to	2.00			(1.14	)	to	(2.22	)
12/31/2014		1,240,007		10.44	to		10.26		3,695,090		0.95			0.90		to	2.00			(6.26	)	to	(7.28	)
12/31/2013		995,804		1.35	to		1.83		2,398,959		1.15			1.15		to	1.95			16.43		to	15.52
12/31/2012		784,016		1.16	to		1.58		1,119,091		1.52			1.15		to	1.95			20.48		to	19.53
TA Morgan Stanley Capital Growth Initial Class
12/31/2016		28,129		2.11	to		2.05		63,699		—			1.25		to	1.90			(3.47	)	to	(4.08	)
12/31/2015		34,497		2.18	to		2.14		81,045		—			1.25		to	1.90			10.41		to	9.70
12/31/2014		33,027		1.98	to		1.95		70,381		—			1.25		to	1.90			4.70		to	4.03
12/31/2013		20,201		1.89	to		1.87		41,179		0.67			1.25		to	1.90			46.42		to	45.49
12/31/2012		20,240		1.29	to		1.29		28,219		—			1.25		to	1.90			14.11		to	13.38
TA Morgan Stanley Capital Growth Service Class
12/31/2016		641,141		15.30	to		14.71		3,709,725		—			0.90		to	2.00			(3.37	)	to	(4.43	)
12/31/2015		530,782		15.84	to		15.39		2,180,373		—			0.90		to	2.00			10.45		to	9.24
12/31/2014		487,574		14.34	to		14.09		1,461,885		—			0.90		to	2.00			4.84		to	3.69
12/31/2013		500,196		1.72	to		1.93		1,052,865		0.49			1.15		to	1.95			46.20		to	45.06
12/31/2012		465,486		1.18	to		1.33		630,426		—			1.15		to	1.95			13.89		to	12.99

57

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA Multi-Managed Balanced Initial Class
12/31/2016		12,065	$	2.35	to	$	2.06	$	27,775		1.18	%		1.25	%	to	1.90	%		6.55	%	to	5.87	%
12/31/2015		23,192		2.21	to		1.95		50,184		1.37			1.25		to	1.90			(1.02	)	to	(1.65	)
12/31/2014		23,192		2.23	to		1.98		50,777		1.38			1.25		to	1.90			9.44		to	8.74
12/31/2013		23,192		2.04	to		1.82		46,465		1.58			1.25		to	1.90			16.63		to	15.89
12/31/2012		23,192		1.75	to		1.57		39,897		—			1.25		to	1.90			11.17		to	10.46
TA Multi-Managed Balanced Service Class
12/31/2016		12,471,373		12.82	to		12.11		83,405,643		1.01			0.45		to	2.00			7.16		to	5.51
12/31/2015		4,342,112		11.97	to		11.48		13,596,331		1.19			0.45		to	2.00			(0.51	)	to	(2.04	)
12/31/2014		4,141,602		12.03	to		11.72		10,150,180		1.24			0.45		to	2.00			10.00		to	8.31
12/31/2013		3,663,589		1.26	to		1.81		6,706,218		1.48			0.45		to	1.95			17.23		to	15.50
12/31/2012		2,836,668		1.31	to		1.57		4,481,180		1.45			0.45		to	1.95			11.11		to	10.24
TA Multi-Manager Alternative Strategies Service Class
12/31/2016		21,576		10.01	to		9.64		212,059		2.59			0.45		to	1.65			1.56		to	0.35
12/31/2015		13,978		9.85	to		9.60		136,414		0.36			0.45		to	1.65			(6.03	)	to	(7.15	)
12/31/2014		2,886		10.49	to		10.34		30,031		0.83			0.45		to	1.65			2.49		to	1.27
12/31/2013(1)		598		10.23	to		10.21		6,116		—			0.45		to	1.65			—		to	—
TA PIMCO Tactical—Balanced Service Class
12/31/2016		11,684,566		11.48	to		10.85		37,518,764		0.29			0.45		to	2.00			4.91		to	3.30
12/31/2015		11,441,634		10.95	to		10.50		32,381,298		—			0.45		to	2.00			(2.98	)	to	(4.48	)
12/31/2014		11,037,640		11.28	to		11.00		30,107,695		1.04			0.45		to	2.00			7.35		to	5.70
12/31/2013		9,401,250		1.10	to		0.99		16,381,046		0.59			0.45		to	1.95			11.35		to	9.71
12/31/2012		3,645,065		0.99	to		0.91		3,358,618		1.49			0.45		to	1.95			(0.17	)	to	(0.96	)
TA PIMCO Tactical—Conservative Service Class
12/31/2016		7,056,786		11.29	to		10.67		24,094,824		0.44			0.45		to	2.00			4.51		to	2.90
12/31/2015		6,127,329		10.80	to		10.36		16,490,590		0.31			0.45		to	2.00			(2.52	)	to	(4.02	)
12/31/2014		5,302,381		11.08	to		10.80		10,002,783		1.31			0.45		to	2.00			8.24		to	6.57
12/31/2013		3,388,194		1.07	to		0.94		4,859,792		0.67			0.45		to	1.95			7.67		to	6.09
12/31/2012		1,792,209		0.99	to		0.89		1,613,212		1.19			0.45		to	1.95			0.37		to	(0.43	)
TA PIMCO Tactical—Growth Service Class
12/31/2016		7,608,963		11.55	to		10.91		30,537,277		—			0.45		to	2.00			4.40		to	2.80
12/31/2015		7,697,689		11.07	to		10.62		28,486,728		—			0.45		to	2.00			(3.89	)	to	(5.37	)
12/31/2014		6,170,132		11.51	to		11.22		15,981,612		1.80			0.45		to	2.00			5.92		to	4.29
12/31/2013		5,087,552		1.14	to		0.98		8,054,694		0.75			0.45		to	1.95			16.28		to	14.57
12/31/2012		1,751,213		0.98	to		0.85		1,512,853		0.41			0.45		to	1.95			(0.46	)	to	(1.25	)
TA PIMCO Total Return Initial Class
12/31/2016		173,971		1.64	to		1.39		279,735		3.25			1.25		to	1.90			1.45		to	0.80
12/31/2015		184,212		1.62	to		1.38		292,408		2.68			1.25		to	1.90			(0.55	)	to	(1.19	)
12/31/2014		244,451		1.63	to		1.40		390,765		1.82			1.25		to	1.90			3.38		to	2.72
12/31/2013		271,387		1.58	to		1.36		420,257		1.95			1.25		to	1.90			(3.75	)	to	(4.36	)
12/31/2012		344,743		1.64	to		1.42		555,485		3.95			1.25		to	1.90			6.22		to	5.53
TA PIMCO Total Return Service Class
12/31/2016		33,634,576		10.14	to		9.58		76,869,825		2.22			0.45		to	2.00			2.02		to	0.45
12/31/2015		35,901,430		9.94	to		9.53		71,428,468		2.62			0.45		to	2.00			0.07		to	(1.47	)
12/31/2014		38,303,298		9.93	to		9.68		68,015,822		1.68			0.45		to	2.00			3.87		to	2.27
12/31/2013		45,280,868		1.02	to		1.33		65,446,075		2.05			0.45		to	1.95			(3.20	)	to	(4.62	)
12/31/2012		43,554,435		1.29	to		1.40		59,123,962		4.32			0.45		to	1.95			6.25		to	5.26
TA PineBridge Inflation Opportunities Service Class
12/31/2016		9,361,263		9.21	to		8.70		14,601,121		0.59			0.45		to	2.00			3.34		to	1.75
12/31/2015		10,242,463		8.91	to		8.55		14,060,193		1.26			0.45		to	2.00			(3.30	)	to	(4.79	)
12/31/2014		11,260,430		9.22	to		8.98		14,671,181		0.31			0.45		to	2.00			2.91		to	1.33
12/31/2013		13,261,771		0.94	to		0.98		14,478,869		0.34			0.45		to	1.95			(9.95	)	to	(11.28	)
12/31/2012		13,767,765		1.14	to		1.11		15,370,289		0.26			0.45		to	1.95			5.08		to	4.25

58

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA ProFunds UltraBear Service Class (OAM)
12/31/2016		18,800,019	$	0.06	to	$	0.06	$	1,139,167		—	%		1.00	%	to	1.95	%		(24.36	)%	to	(25.04	)%
12/31/2015		13,939,989		0.08	to		0.08		1,122,262		—			1.00		to	1.95			(8.20	)	to	(9.05	)
12/31/2014		4,425,558		0.09	to		0.09		390,086		—			1.00		to	1.95			(26.32	)	to	(27.01	)
12/31/2013		3,540,863		0.12	to		0.12		425,843		—			1.00		to	1.95			(45.65	)	to	(46.16	)
12/31/2012		17,756,040		0.67	to		0.22		3,953,441		—			0.45		to	1.95			(30.13	)	to	(30.79	)
TA QS Investors Active Asset Allocation—Moderate Service Class
12/31/2016		28,275,068		10.50	to		9.92		89,329,578		1.21			0.45		to	2.00			1.73		to	0.17
12/31/2015		32,742,037		10.32	to		9.90		95,406,942		0.98			0.45		to	2.00			(4.71	)	to	(6.17	)
12/31/2014		33,943,565		10.83	to		10.55		95,420,430		0.66			0.45		to	2.00			3.15		to	1.56
12/31/2013		31,068,876		1.16	to		1.11		56,227,242		0.55			0.45		to	1.95			10.62		to	8.99
12/31/2012		12,789,199		1.05	to		1.02		13,133,992		0.16			0.45		to	1.95			7.22		to	6.22
TA QS Investors Active Asset Allocation—Conservative Service Class
12/31/2016		9,783,495		10.50	to		9.92		25,125,769		1.26			0.45		to	2.00			2.19		to	0.62
12/31/2015		11,470,352		10.27	to		9.85		26,610,104		1.00			0.45		to	2.00			(2.80	)	to	(4.29	)
12/31/2014		12,551,291		10.57	to		10.30		24,423,931		1.05			0.45		to	2.00			3.14		to	1.55
12/31/2013		12,761,034		1.11	to		1.08		17,995,165		1.13			0.45		to	1.95			6.59		to	5.02
12/31/2012		9,990,889		1.05	to		1.02		10,318,056		0.42			0.45		to	1.95			5.72		to	4.73
TA QS Investors Active Asset Allocation—Moderate Growth Service Class
12/31/2016		15,556,628		10.52	to		9.94		53,011,793		1.06			0.45		to	2.00			1.51		to	(0.05	)
12/31/2015		18,408,252		10.37	to		9.95		58,624,473		1.03			0.45		to	2.00			(6.95	)	to	(8.39	)
12/31/2014		19,144,493		11.14	to		10.86		55,073,814		0.82			0.45		to	2.00			2.76		to	1.18
12/31/2013		16,804,541		1.23	to		1.14		30,703,256		0.85			0.45		to	1.95			15.98		to	14.28
12/31/2012		9,243,757		1.06	to		1.00		9,309,067		0.75			0.45		to	1.95			9.85		to	8.82
TA Small/Mid Cap Value Initial Class
12/31/2016		320,871		15.02	to		11.90		3,209,500		0.76			0.45		to	1.55			20.58		to	19.28
12/31/2015		358,219		12.46	to		9.98		3,066,345		1.02			0.45		to	1.55			(2.95	)	to	(4.00	)
12/31/2014		378,313		12.83	to		10.39		3,330,797		0.79			0.45		to	1.55			4.75		to	3.62
12/31/2013		418,523		1.45	to		10.03		3,611,831		0.42			0.45		to	1.55			35.71		to	34.24
12/31/2012		492,637		1.39	to		7.47		3,142,391		0.54			0.45		to	1.55			14.94		to	14.60
TA Small/Mid Cap Value Service Class
12/31/2016		3,406,282		14.63	to		14.06		10,341,703		0.55			0.90		to	2.00			19.73		to	18.42
12/31/2015		3,497,356		12.22	to		11.87		8,150,627		0.82			0.90		to	2.00			(3.60	)	to	(4.66	)
12/31/2014		3,341,690		12.68	to		12.45		7,605,510		0.64			0.90		to	2.00			3.99		to	2.86
12/31/2013		2,199,252		1.79	to		1.70		4,056,739		0.29			1.15		to	1.95			34.49		to	33.44
12/31/2012		1,936,575		1.33	to		1.28		2,533,553		0.27			1.15		to	1.95			14.72		to	13.81
TA T. Rowe Price Small Cap Initial Class
12/31/2016		65,922		15.53	to		2.59		265,399		—			0.45		to	1.90			10.72		to	9.15
12/31/2015		78,635		14.03	to		2.38		261,501		—			0.45		to	1.90			1.97		to	0.52
12/31/2014		153,368		13.75	to		2.36		295,834		—			0.45		to	1.90			6.07		to	4.56
12/31/2013		180,817		1.51	to		2.26		331,926		0.07			0.45		to	1.90			43.42		to	41.39
12/31/2012		199,364		1.59	to		1.60		257,578		—			0.45		to	1.90			14.26		to	13.52
TA T. Rowe Price Small Cap Service Class
12/31/2016		5,742,239		15.14	to		14.55		29,755,780		—			0.90		to	2.00			10.01		to	8.81
12/31/2015		5,862,406		13.76	to		13.37		24,844,869		—			0.90		to	2.00			1.24		to	0.13
12/31/2014		5,746,945		13.60	to		13.35		22,421,531		—			0.90		to	2.00			5.29		to	4.14
12/31/2013		4,912,670		2.18	to		2.28		14,082,513		—			1.15		to	1.95			42.07		to	40.95
12/31/2012		4,271,914		1.53	to		1.62		7,692,095		—			1.15		to	1.95			14.09		to	13.19
TA Torray Concentrated Growth Initial Class
12/31/2016		240,921		13.70	to		2.05		1,386,531		0.46			0.45		to	1.90			6.26		to	4.75
12/31/2015		300,767		12.90	to		1.95		1,647,122		0.54			0.45		to	1.90			(2.01	)	to	(3.41	)
12/31/2014		312,882		13.16	to		2.02		1,765,697		0.86			0.45		to	1.90			9.50		to	7.94
12/31/2013		340,616		1.44	to		1.87		1,772,939		0.99			0.45		to	1.90			32.50		to	30.62
12/31/2012		441,843		1.43	to		1.44		1,719,363		0.84			0.45		to	1.90			15.68		to	14.94

59

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
TA Torray Concentrated Growth Service Class
12/31/2016		854,672	$	13.35	to	$	12.83	$	2,608,184		0.14	%		0.90	%	to	2.00	%		5.52	%	to	4.37	%
12/31/2015		938,864		12.65	to		12.29		2,541,038		0.35			0.90		to	2.00			(2.72	)	to	(3.78	)
12/31/2014		3,902,173		13.00	to		12.77		9,918,986		0.70			0.90		to	2.00			8.76		to	7.57
12/31/2013		3,636,014		1.69	to		1.90		7,755,616		0.78			1.15		to	1.95			31.30		to	30.27
12/31/2012		3,035,386		1.29	to		1.46		4,696,125		0.99			1.15		to	1.95			15.49		to	14.58
TA TS&W International Equity Initial Class
12/31/2016		316,110		10.86	to		1.49		672,352		2.65			0.45		to	1.90			0.63		to	(0.80	)
12/31/2015		374,274		10.80	to		1.50		777,937		2.98			0.45		to	1.90			0.86		to	(0.57	)
12/31/2014		425,897		10.70	to		1.51		886,720		2.39			0.45		to	1.90			(5.61	)	to	(6.95	)
12/31/2013		486,627		1.35	to		1.62		1,084,356		2.29			0.45		to	1.90			23.79		to	22.03
12/31/2012		583,020		1.24	to		1.33		1,054,272		2.23			0.45		to	1.90			15.30		to	14.56
TA TS&W International Equity Service Class
12/31/2016		695,271		10.58	to		10.16		2,505,044		2.57			0.90		to	2.00			(0.13	)	to	(1.22	)
12/31/2015		659,509		10.59	to		10.29		2,459,651		3.18			0.90		to	2.00			0.13		to	(0.96	)
12/31/2014		597,875		10.58	to		10.39		1,710,204		2.32			0.90		to	2.00			(6.23	)	to	(7.25	)
12/31/2013		559,458		1.21	to		1.73		1,151,493		2.21			1.15		to	1.95			22.66		to	21.70
12/31/2012		415,528		0.99	to		1.42		520,759		2.04			1.15		to	1.95			15.11		to	14.20
TA WMC US Growth Initial Class
12/31/2016		1,806,388		14.52	to		1.89		2,506,822		0.40			0.45		to	1.90			2.35		to	0.90
12/31/2015		2,057,869		14.19	to		1.87		2,814,938		0.71			0.45		to	1.90			6.37		to	4.86
12/31/2014		2,344,356		13.34	to		1.78		3,041,752		0.87			0.45		to	1.90			10.61		to	9.03
12/31/2013		2,741,240		1.36	to		1.64		3,277,307		1.03			0.45		to	1.90			31.87		to	30.00
12/31/2012		3,154,123		1.17	to		1.26		2,886,812		0.31			0.45		to	1.90			11.76		to	11.05
TA WMC US Growth Service Class
12/31/2016		4,989,273		14.15	to		13.60		16,149,242		0.17			0.90		to	2.00			1.62		to	0.52
12/31/2015		5,171,418		13.92	to		13.53		14,352,790		0.42			0.90		to	2.00			5.66		to	4.50
12/31/2014		1,038,319		13.18	to		12.94		2,909,622		0.69			0.90		to	2.00			9.84		to	8.64
12/31/2013		975,383		1.36	to		1.69		1,861,412		0.81			1.15		to	1.95			30.63		to	29.61
12/31/2012		778,449		1.04	to		1.31		1,097,644		0.12			1.15		to	1.95			11.57		to	10.69
Vanguard® Equity Index
12/31/2016		54,305		14.86	to		14.67		802,610		2.21			0.65		to	1.00			11.09		to	10.70
12/31/2015		54,305		13.38	to		13.25		723,578		1.78			0.65		to	1.00			0.61		to	0.26
12/31/2014		—		13.30	to		13.22		—		—			0.65		to	1.00			13		to	12.38
12/31/2013(1)		—		11.79	to		11.76		—		—			0.45		to	0.80			—		to	—
Vanguard® International
12/31/2016		42,274		10.87	to		10.73		457,069		1.41			0.65		to	1.00			1.22		to	0.87
12/31/2015		40,206		10.74	to		10.64		430,009		2.00			0.65		to	1.00			(1.41	)	to	(1.76	)
12/31/2014		—		10.89	to		10.83		—		—			0.65		to	1.00			(6.66	)	to	(6.99	)
12/31/2013(1)		—		11.67	to		11.64		—		—			0.45		to	0.80			—		to	—
Vanguard® Mid-Cap Index
12/31/2016		—		14.44	to		14.26		—		—			0.65		to	1.00			10.40		to	10.01
12/31/2015		—		13.08	to		12.96		—		—			0.65		to	1.00			(2.07	)	to	(2.42	)
12/31/2014		—		13.36	to		13.28		—		—			0.65		to	1.00			12.86		to	12.46
12/31/2013(1)		—		11.84	to		11.81		—		—			0.45		to	0.80			—		to	—
Vanguard® REIT Index
12/31/2016		—		12.59	to		12.43		—		—			0.65		to	1.00			7.66		to	7.28
12/31/2015		—		11.69	to		11.58		—		—			0.65		to	1.00			1.56		to	1.21
12/31/2014		—		11.51	to		11.45		—		—			0.65		to	1.00			29.27		to	28.82
12/31/2013(1)		—		8.91	to		8.89		—		—			0.45		to	0.80			—		to	—
Vanguard® Short-Term Investment Grade
12/31/2016		—		10.34	to		10.21		—		—			0.65		to	1.00			2.05		to	1.70
12/31/2015		—		10.13	to		10.04		—		—			0.65		to	1.00			0.47		to	0.12
12/31/2014		—		10.08	to		10.03		—		—			0.65		to	1.00			1.10		to	0.74
12/31/2013(1)		—		9.98	to		9.95		—		—			0.45		to	0.80			—		to	—

60

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

5. Financial Highlights (continued)

	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio
Vanguard® Total Bond Market Index
12/31/2016		34,255	$	10.28	to	$	10.15	$	350,212		2.27	%		0.65	%	to	1.00	%		1.81	%	to	1.45	%
12/31/2015		34,255		10.10	to		10.00		344,505		2.44			0.65		to	1.00			(0.32	)	to	(0.66	)
12/31/2014		—		10.13	to		10.07		—		—			0.65		to	1.00			5.21		to	4.84
12/31/2013(1)		—		9.63	to		9.61		—		—			0.45		to	0.80			—		to	—
Voya Global Perspectives Class S Shares
12/31/2016		—		9.68	to		9.54		—		—			1.29		to	2.14			5.19		to	4.30
12/31/2015(1)		—		9.20	to		9.15		—		—			1.29		to	2.14			—		to	—
Voya Large Cap Value Class S Shares
12/31/2016		—		10.40	to		10.26		—		—			1.29		to	2.14			12.13		to	11.18
12/31/2015(1)		—		9.28	to		9.23		—		—			1.29		to	2.14			—		to	—
Voya Strategic Allocation Conservative Class S Shares
12/31/2016		—		10.00	to		9.86		—		—			1.29		to	2.14			4.12		to	3.25
12/31/2015(1)		—		9.61	to		9.55		—		—			1.29		to	2.14			—		to	—
Voya Strategic Allocation Moderate Class S Shares
12/31/2016		—		9.98	to		9.84		—		—			1.29		to	2.14			4.96		to	4.07
12/31/2015(1)		—		9.51	to		9.45		—		—			1.29		to	2.14			—		to	—
Wanger International
12/31/2016		—		10.30	to		10.16		—		—			0.45		to	0.80			(1.85	)	to	(2.19	)
12/31/2015		—		10.49	to		10.39		—		—			0.45		to	0.80			(0.35	)	to	(0.70	)
12/31/2014		—		10.53	to		10.47		—		—			0.45		to	0.80			(4.83	)	to	(5.17	)
12/31/2013(1)		—		11.06	to		11.04		—		—			0.45		to	0.80			—		to	—
Wanger USA
12/31/2016		—		14.35	to		14.17		—		—			0.45		to	0.80			13.18		to	12.78
12/31/2015		—		12.68	to		12.56		—		—			0.45		to	0.80			(1.06	)	to	(1.40	)
12/31/2014		—		12.81	to		12.74		—		—			0.45		to	0.80			4.31		to	3.95
12/31/2013(1)		—		12.28	to		12.25		—		—			0.45		to	0.80			—		to	—

⁽¹⁾  See footnote 1

* These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest.

** These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded.

*** These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return.

61

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

6. Administrative and Mortality and Expense Risk Charges

TFLIC deducts a daily administrative charge equal to an annual rate of .15% of the daily net assets value of each subaccount for administrative expenses. TFLIC also deducts an annual charge during the accumulation phase, not to exceed $35, proportionately from the subaccounts’ unit values. An annual charge ranging from 0.30% to 1.85% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TFLIC’s assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges.

In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees:

Subaccount	Facilitation Fee Assessed
AB Balanced Wealth Strategy Class B Shares		0.20	%
American Funds—Asset Allocation Class 2 Shares		0.30	%
American Funds—Bond Class 2 Shares		0.30	%
American Funds—Growth Class 2 Shares		0.30	%
American Funds—Growth-Income Class 2 Shares		0.30	%
American Funds—International Class 2 Shares		0.30	%
Fidelity® VIP Contrafund® Initial Class		0.20	%
Fidelity® VIP Mid Cap Initial Class		0.20	%
Fidelity® VIP Value Strategies Initial Class		0.20	%
Franklin Founding Funds Allocation Class 4 Shares		0.15	%
State Street Total Return V.I.S. Class 3 Shares		0.20	%
Vanguard® Equity Index		0.20	%
Vanguard® International		0.20	%
Vanguard® Mid-Cap Index		0.20	%
Vanguard® REIT Index		0.20	%
Vanguard® Short-Term Investment Grade		0.20	%
Vanguard® Total Bond Market Index		0.20	%
Voya Global Perspectives Class S Shares		0.14	%
Voya Large Cap Value Class S Shares		0.14	%
Voya Strategic Allocation Conservative Class S Shares		0.14	%
Voya Strategic Allocation Moderate Class S Shares		0.14	%

7. Income Tax

Operations of the Separate Account form a part of TFLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code).    The operations of the Separate Account are accounted for separately from other operations of TFLIC for purposes of federal income taxation. The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TFLIC. Under existing federal income tax laws, the income of the Separate Account is not taxable to TFLIC, as long as earnings are credited under the variable annuity contracts.

62

Transamerica Financial Life Insurance Company

Separate Account VA BNY

Notes to Financial Statements

December 31, 2016

8. Subsequent Events

The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued. During this period, there were no subsequent events requiring recognition or disclosure in the financial statements.

9. Related Parties

Transamerica Capital, Inc. (“TCI”), a wholesaling broker-dealer, is an affiliated entity of TFLIC and an indrect wholly owned subsidiary of AEGON N.V.. TCI distributes TFLIC’s products through broker-dealers and other financial intermediaries.

The subaccounts invest in the mutual funds listed in Footnote 1. These investments include funds managed by Transamerica Asset Management, Inc. (“TAM”). Transamerica Fund Services, Inc. (“TFS”) serves as a transfer agent to TAM, and AEGON USA Asset Management Holding, LLC (“AAM”) serves as a sub-advisor for certain funds managed by TAM. TAM, TFS and AAM are affiliated entities of TFLIC and indirect wholly owned subsidiaries of AEGON N.V.. Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both. The Separate Account pays management fees to the related funds as detailed in the fund prospectus.

No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties.

Contract owners may transfer funds between available subaccount options within the Separate Account. These transfers are performed at unit value at the time of the transfer.

63