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Transamerica B-Share Variable Annuity

  

Transamerica I-Share II Variable Annuity

Transamerica AxiomSM III Variable Annuity

  

Transamerica PrincipiumSM IV Variable Annuity

Issued by

TRANSAMERICA LIFE INSURANCE COMPANY

SEPARATE ACCOUNT VA B

and

TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY

SEPARATE ACCOUNT VA BNY

Supplement dated May 12, 2023

to the

Prospectus dated May 1, 2023

Initial Summary Prospectus dated May 1, 2023

Updating Summary Prospectus dated May 1, 2023

Effective on May 1, 2023 based on changes to the underlying portfolios, the Portfolio Company Appendix is revised to reflect the following changes:

 

Current Portfolio Name   New Portfolio Name   Current Subadvisor   New Subadvisor

Transamerica Rothschild &    

Co Large Cap Value VP    

 

Transamerica Great Lakes

Advisors Large Cap Value VP

 

Rothschild & Co Asset

Management US Inc

      Great Lakes Advisors, LLC

There is no change to the portfolio’s investment objective.

This Supplement updates certain information in the above referenced Prospectus, Initial Summary Prospectus, and/or Updating Summary Prospectus (“the Prospectus”). Except as indicated in this Supplement, all other information included in the Prospectus remains unchanged. We will send you another copy of the applicable Prospectus or any supplement without charge upon request. Please contact our Administrative Office referenced in the Prospectus.

This Supplement must be accompanied or preceded by the applicable Prospectus.

Please read this Supplement carefully and retain it for future reference.