TABLE OF CONTENTS

PACIFIC SELECT FUND
Letter to Shareholders	A-1
Performance Discussion	A-3
Schedules of Investments	B-1
Financial Statements:
Statements of Assets and Liabilities	C-1
Statements of Operations	C-9
Statements of Changes in Net Assets	C-17
Statements of Cash Flows	C-25
Financial Highlights	C-26
Notes to Financial Statements	D-1
Report of Independent Registered Public Accounting Firm	E-1
Disclosure of Fund Expenses	F-1
Trustees and Officers Information	F-5
Approval of Investment Advisory Agreement and Sub-Advisory Agreements	F-8
Special Meetings of Shareholders	F-23
Where to Go for More Information	F-24

The 2014 Annual Report for the American Funds^® Insurance Series (“AFIS”) will be mailed separately to all Pacific Life Insurance Company and Pacific Life & Annuity Company variable life insurance policyholders and variable annuity contract owners with allocations to the American Funds Growth, American Funds Growth-Income and American Funds Asset Allocation Portfolios of the Pacific Select Fund (“PSF”). For those policyholders and contract owners, the AFIS Annual Report should be read in conjunction with the PSF Annual Report included herein.

SEPARATE ACCOUNT A
Schedule of Investments	G-1
Financial Statements:
Statements of Assets and Liabilities	H-1
Statements of Operations	H-9
Statements of Changes in Net Assets	H-15
Financial Highlights	H-33
Notes to Financial Statements	I-1
Report of Independent Registered Public Accounting Firm	J-1

The 2014 Annual Reports for all underlying investment options other than Pacific Select Fund may be mailed separately to Pacific Life Insurance Company variable annuity contract owners with allocations to those options and should be read in conjunction with the Separate Account Annual Report included herein.

SEPARATE ACCOUNT A

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2014

Variable Accounts	Underlying Portfolios/Funds	Shares		Cost		Value
	Pacific Select Fund
Diversified Bond	Diversified Bond Class I *		11,225,837		$91,273,990		$97,938,592
Floating Rate Income	Floating Rate Income Class I *		2,803,838		28,469,538		28,793,412
Floating Rate Loan	Floating Rate Loan Class I *		18,462,671		109,562,193		113,905,227
High Yield Bond	High Yield Bond Class I *		32,134,041		160,881,629		218,120,185
Inflation Managed	Inflation Managed Class I *		28,853,382		290,467,458		288,136,365
Inflation Strategy	Inflation Strategy Class I *		1,812,163		18,409,161		18,164,624
Managed Bond	Managed Bond Class I *		42,992,256		445,776,014		507,098,341
Short Duration Bond	Short Duration Bond Class I *		30,289,242		278,050,781		288,413,071
Emerging Markets Debt	Emerging Markets Debt Class I *		1,255,298		12,851,232		12,220,565
American Funds® Growth	American Funds Growth Class I *		16,038,963		104,923,833		211,218,963
American Funds Growth-Income	American Funds Growth-Income Class I *		15,263,811		117,459,207		234,230,318
Comstock	Comstock Class I *		16,139,279		112,061,907		196,340,279
Dividend Growth	Dividend Growth Class I *		15,780,454		135,023,534		233,419,269
Equity Index	Equity Index Class I *		9,308,769		214,875,293		426,920,837
Focused Growth	Focused Growth Class I *		4,811,960		29,016,702		88,244,859
Growth	Growth Class I *		10,563,368		132,010,909		206,430,294
Large-Cap Growth	Large-Cap Growth Class I *		15,554,242		59,312,553		119,820,209
Large-Cap Value	Large-Cap Value Class I *		12,664,389		101,286,522		224,545,967
Long/Short Large-Cap	Long/Short Large-Cap Class I *		3,862,716		28,845,960		42,600,407
Main Street® Core	Main Street Core Class I *		10,448,862		139,385,124		298,796,090
Mid-Cap Equity	Mid-Cap Equity Class I *		13,228,884		107,738,929		186,790,273
Mid-Cap Growth	Mid-Cap Growth Class I *		18,143,458		91,201,570		187,422,831
Mid-Cap Value	Mid-Cap Value Class I *		5,295,185		52,111,653		73,749,002
Small-Cap Equity	Small-Cap Equity Class I *		2,490,018		23,423,646		40,012,513
Small-Cap Growth	Small-Cap Growth Class I *		7,672,794		53,056,909		100,062,359
Small-Cap Index	Small-Cap Index Class I *		9,682,950		74,726,801		173,524,027
Small-Cap Value	Small-Cap Value Class I *		7,164,680		61,915,700		113,891,861
Value Advantage	Value Advantage Class I *		1,179,137		14,113,278		15,720,679
Health Sciences	Health Sciences Class I *		8,805,903		84,766,314		246,320,642
Real Estate	Real Estate Class I *		9,155,589		75,074,454		198,491,184
Technology	Technology Class I *		12,616,898		42,223,440		71,346,907
Emerging Markets	Emerging Markets Class I *		12,668,871		74,359,729		191,528,492
International Large-Cap	International Large-Cap Class I *		33,222,316		156,613,873		251,422,338
International Small-Cap	International Small-Cap Class I *		4,809,786		23,820,321		38,127,068
International Value	International Value Class I *		12,523,718		94,101,620		132,274,267
Currency Strategies	Currency Strategies Class I *		350,273		3,581,501		3,718,629
Global Absolute Return	Global Absolute Return Class I *		809,931		8,021,573		8,471,835
Precious Metals	Precious Metals Class I *		2,357,320		11,089,226		9,543,806
American Funds Asset Allocation	American Funds Asset Allocation Class I *		95,949,417		1,565,027,253		1,921,767,711
Pacific Dynamix - Conservative Growth	Pacific Dynamix - Conservative Growth Class I *		28,910,704		342,620,511		389,310,269
Pacific Dynamix - Moderate Growth	Pacific Dynamix - Moderate Growth Class I *		89,998,703		1,240,859,922		1,454,789,971
Pacific Dynamix - Growth	Pacific Dynamix - Growth Class I *		27,770,907		380,985,711		480,535,079
Portfolio Optimization Conservative	Portfolio Optimization Conservative Class I *		200,729,635		1,974,600,914		2,264,282,674
Portfolio Optimization Moderate-Conservative	Portfolio Optimization Moderate-Conservative Class I *		298,249,512		2,903,083,743		3,516,975,841
Portfolio Optimization Moderate	Portfolio Optimization Moderate Class I *		1,127,383,532		10,823,213,055		13,740,320,503
Portfolio Optimization Growth	Portfolio Optimization Growth Class I *		903,615,912		8,559,189,972		11,365,555,334
Portfolio Optimization Aggressive-Growth	Portfolio Optimization Aggressive-Growth Class I *		182,668,195		1,707,640,759		2,328,707,665
	AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
Invesco V.I. Balanced-Risk Allocation Series II	Invesco V.I. Balanced-Risk Allocation Series II		33,990,944		388,634,819		413,669,790
Invesco V.I. Equity and Income Series II	Invesco V.I. Equity and Income Series II		332,121		6,188,663		6,263,800
	American Century Variable Portfolios, Inc.
American Century VP Mid Cap Value Class II	American Century VP Mid Cap Value Class II		1,617,658		29,651,975		32,110,509
	American Funds Insurance Series®
American Funds IS Asset Allocation FundSM Class 4	American Funds IS Asset Allocation Fund Class 4		578,615		12,806,596		12,793,173
American Funds IS Capital Income Builder® Class 4	American Funds IS Capital Income Builder Class 4		1,726,506		17,270,061		16,919,764
American Funds IS Global Growth FundSM Class 4	American Funds IS Global Growth Fund Class 4		553,383		15,535,805		15,129,499
American Funds IS Growth FundSM Class 4	American Funds IS Growth Fund Class 4		49,676		3,884,967		3,961,202
American Funds IS Growth-Income FundSM Class 4	American Funds IS Growth-Income Fund Class 4		154,644		8,033,573		8,101,781

See Notes to Financial Statements See explanation of symbol on page G-3

G-1

SEPARATE ACCOUNT A

SCHEDULE OF INVESTMENTS (Continued)

DECEMBER 31, 2014

Variable Accounts	Underlying Portfolios/Funds	Shares		Cost		Value
American Funds IS International FundSM Class 4	American Funds IS International Fund Class 4		434,667		$9,250,404		$8,793,321
American Funds IS International Growth and Income FundSM Class 4	American Funds IS International Growth and Income Fund Class 4		1,096,643		19,068,501		17,754,644
American Funds IS Managed Risk Asset Allocation FundSM Class P2	American Funds IS Managed Risk Asset Allocation Fund Class P2		2,452,035		29,271,087		30,086,464
American Funds IS New World Fund® Class 4	American Funds IS New World Fund Class 4		554,039		12,908,085		11,391,035
American Funds IS U.S. Government/AAA-Rated Securities FundSM Class 4	American Funds IS U.S. Government/AAA-Rated Securities Fund Class 4		1,641,093		20,299,150		20,251,086
	BlackRock® Variable Series Funds, Inc.
BlackRock Capital Appreciation V.I. Class III	BlackRock Capital Appreciation V.I. Class III		4,252,324		36,487,644		38,100,819
BlackRock Global Allocation V.I. Class III	BlackRock Global Allocation V.I. Class III		163,703,531		2,110,642,083		2,319,679,034
BlackRock iShares® Alternative Strategies V.I. Class I	BlackRock iShares Alternative Strategies V.I. Class I		423,370		4,369,518		4,322,611
BlackRock iShares Dynamic Allocation V.I. Class I	BlackRock iShares Dynamic Allocation V.I. Class I		507,956		5,147,326		5,089,721
BlackRock iShares Dynamic Fixed Income V.I. Class I	BlackRock iShares Dynamic Fixed Income V.I. Class I		306,064		3,082,125		3,075,941
BlackRock iShares Equity Appreciation V.I. Class I	BlackRock iShares Equity Appreciation V.I. Class I		325,425		3,307,506		3,231,470
	Fidelity® Variable Insurance Products Funds
Fidelity VIP Contrafund® Service Class 2	Fidelity VIP Contrafund Service Class 2		1,967,878		65,248,860		72,221,130
Fidelity VIP FundsManager® 60% Service Class 2	Fidelity VIP FundsManager 60% Service Class 2		10,848,598		123,070,292		129,640,750
Fidelity VIP Money Market Service Class	Fidelity VIP Money Market Service Class		242,938,304		242,938,304		242,938,304
Fidelity VIP Strategic Income Service Class 2	Fidelity VIP Strategic Income Service Class 2		1,569,233		18,049,473		17,340,027
	First Trust Variable Insurance Trust
First Trust/Dow Jones Dividend & Income Allocation Class I	First Trust/Dow Jones Dividend & Income Allocation Class I		14,153,640		157,976,023		175,646,678
First Trust Multi Income Allocation Class I	First Trust Multi Income Allocation Class I		457,537		4,699,574		4,753,807
	Franklin Templeton Variable Insurance Products Trust
Franklin Founding Funds Allocation VIP Class 2	Franklin Founding Funds Allocation VIP Class 2		1,374,572		10,041,391		10,199,325
Franklin Founding Funds Allocation VIP Class 4	Franklin Founding Funds Allocation VIP Class 4		61,484,690		404,216,127		463,594,559
Franklin Mutual Global Discovery VIP Class 2	Franklin Mutual Global Discovery VIP Class 2		7,312,232		160,522,105		161,673,445
Franklin Rising Dividends VIP Class 2	Franklin Rising Dividends VIP Class 2		2,809,308		74,105,149		81,638,488
Templeton Global Bond VIP Class 2	Templeton Global Bond VIP Class 2		3,606,522		66,352,911		64,881,323
	GE Investments Funds, Inc.
GE Investments Total Return Class 3	GE Investments Total Return Class 3		27,429,761		453,657,478		514,308,010
	Ivy Funds Variable Insurance Portfolios
Ivy Funds VIP Asset Strategy	Ivy Funds VIP Asset Strategy		935,843		10,442,255		10,171,022
	Janus Aspen Series
Janus Aspen Series Balanced Service Shares	Janus Aspen Series Balanced Service Shares		16,852,916		531,446,693		555,640,651
Janus Aspen Series Flexible Bond Service Shares	Janus Aspen Series Flexible Bond Service Shares		657,361		8,604,690		8,532,548
	JPMorgan Insurance Trust
JPMorgan Insurance Trust Core Bond Class 1	JPMorgan Insurance Trust Core Bond Class 1		44,630		473,831		499,405
JPMorgan Insurance Trust Mid Cap Value Class 1	JPMorgan Insurance Trust Mid Cap Value Class 1		8,176		57,430		93,285
JPMorgan Insurance Trust U.S. Equity Class 1	JPMorgan Insurance Trust U.S. Equity Class 1		2,167		21,353		57,963
	Lord Abbett Series Fund, Inc.
Lord Abbett Bond Debenture Class VC	Lord Abbett Bond Debenture Class VC		3,268,859		41,149,584		38,866,733
Lord Abbett International Core Equity Class VC	Lord Abbett International Core Equity Class VC		3,277,049		54,892,905		52,268,934
Lord Abbett Total Return Class VC	Lord Abbett Total Return Class VC		14,568,463		242,859,264		245,478,594
	MFS® Variable Insurance Trust
MFS Investors Growth Stock Series - Service Class	MFS Investors Growth Stock Series - Service Class		4,020,223		57,711,765		62,836,087
MFS Total Return Series - Service Class	MFS Total Return Series - Service Class		10,245,956		221,300,985		245,390,636
MFS Utilities Series - Service Class	MFS Utilities Series - Service Class		1,209,091		39,149,086		40,480,372
MFS Value Series - Service Class	MFS Value Series - Service Class		3,364,744		54,018,558		67,463,120
	PIMCO Variable Insurance Trust
PIMCO All Asset All Authority - Advisor Class	PIMCO All Asset All Authority - Advisor Class		282,651		2,812,826		2,546,689
PIMCO CommodityRealReturn® Strategy - Advisor Class	PIMCO CommodityRealReturn Strategy - Advisor Class		1,210,599		7,429,539		5,944,043
PIMCO Global Multi-Asset Managed Allocation - Advisor Class	PIMCO Global Multi-Asset Managed Allocation - Advisor Class		14,081,416		167,904,371		163,485,235

See Notes to Financial Statements See explanation of symbol on page G-3

G-2

SEPARATE ACCOUNT A

SCHEDULE OF INVESTMENTS (Continued)

DECEMBER 31, 2014

Variable Accounts	Underlying Portfolios/Funds	Shares		Cost		Value
	Prudential Series Fund, Inc.
Jennison Class II	Jennison Class II *		9,488		$114,576		$377,606
SP International Growth Class II	SP International Growth Class II *		46,378		174,290		270,384
SP Prudential U.S. Emerging Growth Class II	SP Prudential U.S. Emerging Growth Class II *		33,368		206,170		378,055
Value Class II	Value Class II *		8,601		113,693		227,509
	Schwab VIT Portfolios
Schwab VIT Balanced	Schwab VIT Balanced		3,515,526		38,877,498		40,815,261
Schwab VIT Balanced with Growth	Schwab VIT Balanced with Growth		7,613,735		87,440,273		93,344,388
Schwab VIT Growth	Schwab VIT Growth		7,866,758		95,520,540		102,661,197
	Van Eck VIP Trust
Van Eck VIP Global Hard Assets Class S	Van Eck VIP Global Hard Assets Class S *		318,558		9,144,987		7,849,268

* The variable accounts did not receive any dividends or capital gains distributions from the underlying portfolios/funds during the reporting period (See Note 3 in Notes to Financial Statements).

See Notes to Financial Statements

G-3

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES

DECEMBER 31, 2014

		Variable Accounts
		Diversified Bond		Floating Rate Income		Floating Rate Loan		High Yield Bond		Inflation Managed		Inflation Strategy		Managed Bond
ASSETS
Investments in mutual funds, at value			$97,938,592		$28,793,412		$113,905,227		$218,120,185		$288,136,365		$18,164,624		$507,098,341
Receivables:
	Due from Pacific Life Insurance Company		204,561		27,320		66,545		-		-		-		-
	Investments sold		-		-		-		147,123		59,650		154		202,496
Total Assets			98,143,153		28,820,732		113,971,772		218,267,308		288,196,015		18,164,778		507,300,837
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		-		-		149,529		59,235		602		201,820
	Investments purchased		204,297		27,852		66,400		-		-		-		-
Total Liabilities			204,297		27,852		66,400		149,529		59,235		602		201,820
NET ASSETS			$97,938,856		$28,792,880		$113,905,372		$218,117,779		$288,136,780		$18,164,176		$507,099,017
NET ASSETS CONSIST OF:
Accumulation units			$97,905,036		$28,792,880		$113,890,212		$217,884,716		$287,756,239		$18,164,176		$506,260,592
Contracts in payout (annuitization) period			33,820		-		15,160		233,063		380,541		-		838,425
NET ASSETS			$97,938,856		$28,792,880		$113,905,372		$218,117,779		$288,136,780		$18,164,176		$507,099,017
Units Outstanding			7,867,385		2,870,210		11,640,525		12,538,751		16,408,857		1,846,716		27,274,650
Accumulation Unit Values			$10.14 - $14.30		$9.93 - $10.20		$9.27 - $11.90		$9.97 - $22.49		$9.01 - $22.91		$8.93 - $10.41		$9.74 - $24.84
Cost of Investments			$91,273,990		$28,469,538		$109,562,193		$160,881,629		$290,467,458		$18,409,161		$445,776,014
		Short Duration Bond		Emerging Markets Debt		American Funds Growth		American Funds Growth-Income		Comstock		Dividend Growth		Equity Index
ASSETS
Investments in mutual funds, at value			$288,413,071		$12,220,565		$211,218,963		$234,230,318		$196,340,279		$233,419,269		$426,920,837
Receivables:
	Due from Pacific Life Insurance Company		179,248		7,255		67,847		95,131		3,811		-		501,539
	Investments sold		-		-		-		-		-		28,907		-
Total Assets			288,592,319		12,227,820		211,286,810		234,325,449		196,344,090		233,448,176		427,422,376
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		-		-		-		-		29,850		-
	Investments purchased		179,608		7,747		68,285		95,779		3,980		-		503,074
Total Liabilities			179,608		7,747		68,285		95,779		3,980		29,850		503,074
NET ASSETS			$288,412,711		$12,220,073		$211,218,525		$234,229,670		$196,340,110		$233,418,326		$426,919,302
NET ASSETS CONSIST OF:
Accumulation units			$288,359,944		$12,220,073		$211,100,187		$234,004,508		$196,253,101		$233,322,378		$426,673,398
Contracts in payout (annuitization) period			52,767		-		118,338		225,162		87,009		95,948		245,904
NET ASSETS			$288,412,711		$12,220,073		$211,218,525		$234,229,670		$196,340,110		$233,418,326		$426,919,302
Units Outstanding			27,852,528		1,292,439		13,284,597		14,932,220		11,966,564		14,320,749		20,476,046
Accumulation Unit Values			$9.77 - $12.10		$8.66 - $9.85		$12.53 - $20.38		$12.88 - $19.16		$12.73 - $19.88		$12.71 - $19.06		$13.00 - $34.30
Cost of Investments			$278,050,781		$12,851,232		$104,923,833		$117,459,207		$112,061,907		$135,023,534		$214,875,293

See Notes to Financial Statements

H-1

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2014

		Variable Accounts
		Focused Growth		Growth		Large-Cap Growth		Large-Cap Value		Long/Short Large-Cap		Main Street Core		Mid-Cap Equity
ASSETS
Investments in mutual funds, at value			$88,244,859		$206,430,294		$119,820,209		$224,545,967		$42,600,407		$298,796,090		$186,790,273
Receivables:
	Investments sold		111,610		74,813		19,449		115,202		54,245		34,680		47,425
Total Assets			88,356,469		206,505,107		119,839,658		224,661,169		42,654,652		298,830,770		186,837,698
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		112,495		74,781		19,730		114,834		55,018		34,836		47,618
Total Liabilities			112,495		74,781		19,730		114,834		55,018		34,836		47,618
NET ASSETS			$88,243,974		$206,430,326		$119,819,928		$224,546,335		$42,599,634		$298,795,934		$186,790,080
NET ASSETS CONSIST OF:
Accumulation units			$88,198,118		$206,185,826		$119,671,448		$224,335,607		$42,593,348		$297,994,055		$186,585,998
Contracts in payout (annuitization) period			45,856		244,500		148,480		210,728		6,286		801,879		204,082
NET ASSETS			$88,243,974		$206,430,326		$119,819,928		$224,546,335		$42,599,634		$298,795,934		$186,790,080
Units Outstanding			4,698,502		7,115,425		9,721,265		11,691,612		2,777,840		13,482,903		7,570,388
Accumulation Unit Values			$11.92 - $31.11		$13.24 - $36.38		$10.58 - $19.64		$12.80 - $22.38		$13.53 - $19.12		$13.02 - $27.88		$12.46 - $30.55
Cost of Investments			$29,016,702		$132,010,909		$59,312,553		$101,286,522		$28,845,960		$139,385,124		$107,738,929
		Mid-Cap Growth		Mid-Cap Value		Small-Cap Equity		Small-Cap Growth		Small-Cap Index		Small-Cap Value		Value Advantage
ASSETS
Investments in mutual funds, at value			$187,422,831		$73,749,002		$40,012,513		$100,062,359		$173,524,027		$113,891,861		$15,720,679
Receivables:
	Due from Pacific Life Insurance Company		-		40,838		-		-		-		-		18,113
	Investments sold		147,577		-		24,165		63,844		24,889		32,602		-
Total Assets			187,570,408		73,789,840		40,036,678		100,126,203		173,548,916		113,924,463		15,738,792
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		148,482		-		24,408		64,114		25,043		32,741		-
	Investments purchased		-		41,109		-		-		-		-		19,029
Total Liabilities			148,482		41,109		24,408		64,114		25,043		32,741		19,029
NET ASSETS			$187,421,926		$73,748,731		$40,012,270		$100,062,089		$173,523,873		$113,891,722		$15,719,763
NET ASSETS CONSIST OF:
Accumulation units			$187,274,504		$73,746,301		$39,998,574		$99,915,193		$173,400,166		$113,684,197		$15,713,454
Contracts in payout (annuitization) period			147,422		2,430		13,696		146,896		123,707		207,525		6,309
NET ASSETS			$187,421,926		$73,748,731		$40,012,270		$100,062,089		$173,523,873		$113,891,722		$15,719,763
Units Outstanding			12,436,715		3,863,801		2,143,342		6,271,917		7,980,617		4,468,595		1,205,836
Accumulation Unit Values			$11.85 - $18.90		$12.32 - $24.15		$12.46 - $24.90		$12.10 - $18.90		$12.84 - $25.84		$12.43 - $38.50		$12.90 - $13.24
Cost of Investments			$91,201,570		$52,111,653		$23,423,646		$53,056,909		$74,726,801		$61,915,700		$14,113,278

See Notes to Financial Statements

H-2

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2014

		Variable Accounts
		Health Sciences		Real Estate		Technology		Emerging Markets		International Large-Cap		International Small-Cap		International Value
ASSETS
Investments in mutual funds, at value			$246,320,642		$198,491,184		$71,346,907		$191,528,492		$251,422,338		$38,127,068		$132,274,267
Receivables:
	Due from Pacific Life Insurance Company		265,634		-		138,272		123,772		113,775		-		80,633
	Investments sold		-		118,032		-		-		-		14,506		-
Total Assets			246,586,276		198,609,216		71,485,179		191,652,264		251,536,113		38,141,574		132,354,900
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		118,475		-		-		-		14,618		-
	Investments purchased		266,542		-		139,134		124,279		113,894		-		80,848
Total Liabilities			266,542		118,475		139,134		124,279		113,894		14,618		80,848
NET ASSETS			$246,319,734		$198,490,741		$71,346,045		$191,527,985		$251,422,219		$38,126,956		$132,274,052
NET ASSETS CONSIST OF:
Accumulation units			$246,113,684		$198,216,661		$71,341,964		$191,358,667		$251,268,105		$38,108,430		$132,053,073
Contracts in payout (annuitization) period			206,050		274,080		4,081		169,318		154,114		18,526		220,979
NET ASSETS			$246,319,734		$198,490,741		$71,346,045		$191,527,985		$251,422,219		$38,126,956		$132,274,052
Units Outstanding			7,782,064		7,643,739		6,834,234		7,960,255		19,136,509		3,581,772		11,972,895
Accumulation Unit Values			$15.50 - $44.56		$11.53 - $49.87		$7.38 - $15.22		$9.47 - $59.48		$10.39 - $20.82		$9.93 - $15.26		$6.90 - $12.94
Cost of Investments			$84,766,314		$75,074,454		$42,223,440		$74,359,729		$156,613,873		$23,820,321		$94,101,620
		Currency Strategies		Global Absolute Return		Precious Metals		American Funds Asset Allocation		Pacific Dynamix - Conservative Growth		Pacific Dynamix - Moderate Growth		Pacific Dynamix - Growth
ASSETS
Investments in mutual funds, at value			$3,718,629		$8,471,835		$9,543,806		$1,921,767,711		$389,310,269		$1,454,789,971		$480,535,079
Receivables:
	Due from Pacific Life Insurance Company		-		-		3,350		-		30,825		-		45,086
	Investments sold		-		1,828		-		2,458,919		-		206,155		-
Total Assets			3,718,629		8,473,663		9,547,156		1,924,226,630		389,341,094		1,454,996,126		480,580,165
LIABILITIES
Payables:															-
	Due to Pacific Life Insurance Company		14		2,185		-		2,462,875		-		209,840		-
	Investments purchased		112		-		3,763		-		32,255		-		46,247
Total Liabilities			126		2,185		3,763		2,462,875		32,255		209,840		46,247
NET ASSETS			$3,718,503		$8,471,478		$9,543,393		$1,921,763,755		$389,308,839		$1,454,786,286		$480,533,918
NET ASSETS CONSIST OF:
Accumulation units			$3,718,503		$8,463,424		$9,543,393		$1,921,746,733		$389,308,839		$1,454,786,286		$480,533,918
Contracts in payout (annuitization) period			-		8,054		-		17,022		-		-		-
NET ASSETS			$3,718,503		$8,471,478		$9,543,393		$1,921,763,755		$389,308,839		$1,454,786,286		$480,533,918
Units Outstanding			362,954		839,425		2,127,251		114,445,935		28,547,036		101,334,168		29,236,740
Accumulation Unit Values			$10.08 - $10.52		$9.90 - $10.37		$3.86 - $6.89		$11.52 - $21.50		$10.69 - $16.01		$11.08 - $17.82		$11.49 - $19.71
Cost of Investments			$3,581,501		$8,021,573		$11,089,226		$1,565,027,253		$342,620,511		$1,240,859,922		$380,985,711

See Notes to Financial Statements

H-3

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2014

		Variable Accounts
		Portfolio Optimization Conservative		Portfolio Optimization Moderate- Conservative		Portfolio Optimization Moderate		Portfolio Optimization Growth		Portfolio Optimization Aggressive- Growth		Invesco V.I. Balanced-Risk Allocation Series II		Invesco V.I. Equity and Income Series II
ASSETS
Investments in mutual funds, at value			$2,264,282,674		$3,516,975,841		$13,740,320,503		$11,365,555,334		$2,328,707,665		$413,669,790		$6,263,800
Receivables:
	Investments sold		2,573,750		686,761		6,547,799		7,825,482		3,368,248		121,842		2,171
Total Assets			2,266,856,424		3,517,662,602		13,746,868,302		11,373,380,816		2,332,075,913		413,791,632		6,265,971
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		2,566,367		682,114		6,533,923		7,810,218		3,366,248		121,665		2,578
Total Liabilities			2,566,367		682,114		6,533,923		7,810,218		3,366,248		121,665		2,578
NET ASSETS			$2,264,290,057		$3,516,980,488		$13,740,334,379		$11,365,570,598		$2,328,709,665		$413,669,967		$6,263,393
NET ASSETS CONSIST OF:
Accumulation units			$2,263,608,595		$3,515,896,345		$13,737,691,041		$11,363,488,526		$2,328,520,524		$413,656,592		$6,263,393
Contracts in payout (annuitization) period			681,462		1,084,143		2,643,338		2,082,072		189,141		13,375		-
NET ASSETS			$2,264,290,057		$3,516,980,488		$13,740,334,379		$11,365,570,598		$2,328,709,665		$413,669,967		$6,263,393
Units Outstanding			205,287,616		305,930,571		1,159,837,591		933,704,292		189,654,485		26,922,812		596,467
Accumulation Unit Values			$10.04 - $11.50		$10.51 - $12.22		$10.87 - $13.05		$11.26 - $13.89		$11.53 - $14.56		$10.18 - $17.89		$10.17 - $10.60
Cost of Investments			$1,974,600,914		$2,903,083,743		$10,823,213,055		$8,559,189,972		$1,707,640,759		$388,634,819		$6,188,663
		American Century VP Mid Cap Value Class II		American Funds IS Asset Allocation Fund Class 4		American Funds IS Capital Income Builder Class 4		American Funds IS Global Growth Fund Class 4		American Funds IS Growth Fund Class 4		American Funds IS Growth-Income Fund Class 4		American Funds IS International Fund Class 4
ASSETS
Investments in mutual funds, at value			$32,110,509		$12,793,173		$16,919,764		$15,129,499		$3,961,202		$8,101,781		$8,793,321
Receivables:
	Due from Pacific Life Insurance Company		-		87,144		53,704		13,041		-		54,957		41,926
	Investments sold		64,909		-		-		-		915		-		-
Total Assets			32,175,418		12,880,317		16,973,468		15,142,540		3,962,117		8,156,738		8,835,247
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		66,174		-		-		-		1,048		-		-
	Investments purchased		-		87,392		54,328		13,551		-		55,201		42,161
Total Liabilities			66,174		87,392		54,328		13,551		1,048		55,201		42,161
NET ASSETS			$32,109,244		$12,792,925		$16,919,140		$15,128,989		$3,961,069		$8,101,537		$8,793,086
NET ASSETS CONSIST OF:
Accumulation units			$32,097,391		$12,792,925		$16,919,140		$15,128,989		$3,961,069		$8,101,537		$8,793,086
Contracts in payout (annuitization) period			11,853		-		-		-		-		-		-
NET ASSETS			$32,109,244		$12,792,925		$16,919,140		$15,128,989		$3,961,069		$8,101,537		$8,793,086
Units Outstanding			2,279,288		1,234,348		1,708,931		1,424,224		366,639		750,221		918,721
Accumulation Unit Values			$13.12 - $14.68		$10.35 - $10.37		$9.85 - $9.95		$10.29 - $10.78		$10.75 - $10.81		$10.75 - $10.80		$9.53 - $9.62
Cost of Investments			$29,651,975		$12,806,596		$17,270,061		$15,535,805		$3,884,967		$8,033,573		$9,250,404

See Notes to Financial Statements

H-4

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2014

		Variable Accounts
		American Funds IS International Growth and Income Fund Class 4		American Funds IS Managed Risk Asset Allocation Fund Class P2		American Funds IS New World Fund Class 4		American Funds IS U.S. Government/ AAA-Rated Securities Fund Class 4		BlackRock Capital Appreciation V.I. Class III		BlackRock Global Allocation V.I. Class III		BlackRock iShares Alternative Strategies V.I. Class I
ASSETS
Investments in mutual funds, at value			$17,754,644		$30,086,464		$11,391,035		$20,251,086		$38,100,819		$2,319,679,034		$4,322,611
Receivables:
	Due from Pacific Life Insurance Company		9,059		238,057		25,434		817		-		-		6,433
	Investments sold		-		-		-		-		32,379		1,389,191		-
Total Assets			17,763,703		30,324,521		11,416,469		20,251,903		38,133,198		2,321,068,225		4,329,044
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		-		-		-		32,463		1,387,492		-
	Investments purchased		9,752		238,818		25,771		1,155		-		-		6,675
Total Liabilities			9,752		238,818		25,771		1,155		32,463		1,387,492		6,675
NET ASSETS			$17,753,951		$30,085,703		$11,390,698		$20,250,748		$38,100,735		$2,319,680,733		$4,322,369
NET ASSETS CONSIST OF:
Accumulation units			$17,753,951		$30,085,703		$11,390,698		$20,250,748		$38,100,735		$2,319,617,539		$4,322,369
Contracts in payout (annuitization) period			-		-		-		-		-		63,194		-
NET ASSETS			$17,753,951		$30,085,703		$11,390,698		$20,250,748		$38,100,735		$2,319,680,733		$4,322,369
Units Outstanding			1,827,170		2,881,336		1,235,726		1,987,612		2,388,125		197,530,673		422,565
Accumulation Unit Values			$9.27 - $9.89		$10.37 - $10.56		$9.14 - $9.31		$10.11 - $10.30		$13.78 - $17.93		$10.68 - $12.92		$10.19 - $10.29
Cost of Investments			$19,068,501		$29,271,087		$12,908,085		$20,299,150		$36,487,644		$2,110,642,083		$4,369,518
		BlackRock iShares Dynamic Allocation V.I. Class I		BlackRock iShares Dynamic Fixed Income V.I. Class I		BlackRock iShares Equity Appreciation V.I. Class I		Fidelity VIP Contrafund Service Class 2		Fidelity VIP FundsManager 60% Service Class 2		Fidelity VIP Money Market Service Class		Fidelity VIP Strategic Income Service Class 2
ASSETS
Investments in mutual funds, at value			$5,089,721		$3,075,941		$3,231,470		$72,221,130		$129,640,750		$242,938,304		$17,340,027
Receivables:
	Due from Pacific Life Insurance Company		1,336		557		12,133		56,168		32,990		-		-
	Investments sold		-		-		-		-		-		6,536		33,787
Total Assets			5,091,057		3,076,498		3,243,603		72,277,298		129,673,740		242,944,840		17,373,814
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		-		-		-		-		1,532		34,464
	Investments purchased		1,600		717		12,275		57,877		33,745		-		-
Total Liabilities			1,600		717		12,275		57,877		33,745		1,532		34,464
NET ASSETS			$5,089,457		$3,075,781		$3,231,328		$72,219,421		$129,639,995		$242,943,308		$17,339,350
NET ASSETS CONSIST OF:
Accumulation units			$5,089,457		$3,075,781		$3,231,328		$72,219,421		$129,639,995		$242,458,904		$17,339,350
Contracts in payout (annuitization) period			-		-		-		-		-		484,404		-
NET ASSETS			$5,089,457		$3,075,781		$3,231,328		$72,219,421		$129,639,995		$242,943,308		$17,339,350
Units Outstanding			507,566		306,826		324,923		5,323,193		10,728,869		24,533,479		1,705,810
Accumulation Unit Values			$9.99 - $10.09		$10.00 - $10.09		$9.90 - $10.01		$13.07 - $14.13		$11.34 - $12.71		$9.87 - $9.97		$10.09 - $10.28
Cost of Investments			$5,147,326		$3,082,125		$3,307,506		$65,248,860		$123,070,292		$242,938,304		$18,049,473

See Notes to Financial Statements

H-5

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2014

		Variable Accounts
		First Trust/ Dow Jones Dividend & Income Allocation Class I		First Trust Multi Income Allocation Class I		Franklin Founding Funds Allocation VIP Class 2		Franklin Founding Funds Allocation VIP Class 4		Franklin Mutual Global Discovery VIP Class 2		Franklin Rising Dividends VIP Class 2		Templeton Global Bond VIP Class 2
ASSETS
Investments in mutual funds, at value			$175,646,678		$4,753,807		$10,199,325		$463,594,559		$161,673,445		$81,638,488		$64,881,323
Receivables:
	Due from Pacific Life Insurance Company		2,867,292		2,356		21,743		-		42,867		-		22,533
	Investments sold		-		-		-		2,719,538		-		40,117		-
Total Assets			178,513,970		4,756,163		10,221,068		466,314,097		161,716,312		81,678,605		64,903,856
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		-		-		2,718,543		-		41,286		-
	Investments purchased		2,870,248		2,504		21,933		-		44,247		-		23,747
Total Liabilities			2,870,248		2,504		21,933		2,718,543		44,247		41,286		23,747
NET ASSETS			$175,643,722		$4,753,659		$10,199,135		$463,595,554		$161,672,065		$81,637,319		$64,880,109
NET ASSETS CONSIST OF:
Accumulation units			$175,643,722		$4,753,659		$10,190,631		$463,595,554		$161,577,037		$81,637,319		$64,854,168
Contracts in payout (annuitization) period			-		-		8,504		-		95,028		-		25,941
NET ASSETS			$175,643,722		$4,753,659		$10,199,135		$463,595,554		$161,672,065		$81,637,319		$64,880,109
Units Outstanding			14,347,175		458,764		709,358		37,391,068		11,417,807		6,308,088		6,421,265
Accumulation Unit Values			$11.28 - $12.81		$10.32 - $10.43		$13.48 - $15.12		$11.29 - $14.67		$11.83 - $16.30		$12.33 - $13.69		$9.72 - $12.60
Cost of Investments			$157,976,023		$4,699,574		$10,041,391		$404,216,127		$160,522,105		$74,105,149		$66,352,911
		GE Investments Total Return Class 3		Ivy Funds VIP Asset Strategy		Janus Aspen Series Balanced Service Shares		Janus Aspen Series Flexible Bond Service Shares		JPMorgan Insurance Trust Core Bond Class 1		JPMorgan Insurance Trust Mid Cap Value Class 1		JPMorgan Insurance Trust U.S. Equity Class 1
ASSETS
Investments in mutual funds, at value			$514,308,010		$10,171,022		$555,640,651		$8,532,548		$499,405		$93,285		$57,963
Receivables:
	Due from Pacific Life Insurance Company		-		13,869		4,649,499		-		-		-		-
	Investments sold		1,428,561		-		-		2,469		19		4		2
Total Assets			515,736,571		10,184,891		560,290,150		8,535,017		499,424		93,289		57,965
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		1,429,148		-		-		2,866		16		4		72
	Investments purchased		-		14,389		4,654,901		-		-		-		-
Total Liabilities			1,429,148		14,389		4,654,901		2,866		16		4		72
NET ASSETS			$514,307,423		$10,170,502		$555,635,249		$8,532,151		$499,408		$93,285		$57,893
NET ASSETS CONSIST OF:
Accumulation units			$514,299,475		$10,170,502		$555,602,571		$8,532,151		$498,967		$93,285		$57,893
Contracts in payout (annuitization) period			7,948		-		32,678		-		441		-		-
NET ASSETS			$514,307,423		$10,170,502		$555,635,249		$8,532,151		$499,408		$93,285		$57,893
Units Outstanding			33,433,586		1,047,942		45,580,660		846,509		34,315		3,963		2,679
Accumulation Unit Values			$11.01 - $17.73		$9.67 - $9.77		$11.66 - $12.70		$10.05 - $10.15		$14.26 - $14.57		$23.14 - $23.64		$21.61 - $21.61
Cost of Investments			$453,657,478		$10,442,255		$531,446,693		$8,604,690		$473,831		$57,430		$21,353

See Notes to Financial Statements

H-6

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2014

		Variable Accounts
		Lord Abbett Bond Debenture Class VC		Lord Abbett International Core Equity Class VC		Lord Abbett Total Return Class VC		MFS Investors Growth Stock Series - Service Class		MFS Total Return Series - Service Class		MFS Utilities Series - Service Class		MFS Value Series - Service Class
ASSETS
Investments in mutual funds, at value			$38,866,733		$52,268,934		$245,478,594		$62,836,087		$245,390,636		$40,480,372		$67,463,120
Receivables:
	Due from Pacific Life Insurance Company		45,207		128,116		126,259		-		4,512,286		4,766		-
	Investments sold		-		-		-		37,383		-		-		35,480
Total Assets			38,911,940		52,397,050		245,604,853		62,873,470		249,902,922		40,485,138		67,498,600
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		-		-		37,593		-		-		35,636
	Investments purchased		46,066		128,496		127,172		-		4,513,913		5,617		-
Total Liabilities			46,066		128,496		127,172		37,593		4,513,913		5,617		35,636
NET ASSETS			$38,865,874		$52,268,554		$245,477,681		$62,835,877		$245,389,009		$40,479,521		$67,462,964
NET ASSETS CONSIST OF:
Accumulation units			$38,865,874		$52,268,554		$245,477,681		$62,835,877		$245,380,649		$40,479,521		$67,462,964
Contracts in payout (annuitization) period			-		-		-		-		8,360		-		-
NET ASSETS			$38,865,874		$52,268,554		$245,477,681		$62,835,877		$245,389,009		$40,479,521		$67,462,964
Units Outstanding			3,596,954		4,224,106		22,125,357		3,778,625		19,182,534		3,250,292		3,946,952
Accumulation Unit Values			$10.44 - $11.15		$9.04 - $13.09		$10.12 - $12.24		$15.80 - $19.46		$11.50 - $14.16		$11.54 - $13.18		$16.08 - $19.37
Cost of Investments			$41,149,584		$54,892,905		$242,859,264		$57,711,765		$221,300,985		$39,149,086		$54,018,558
		PIMCO All Asset All Authority - Advisor Class		PIMCO CommodityRealReturn Strategy - Advisor Class		PIMCO Global Multi-Asset Managed Allocation - Advisor Class		Jennison Class II		SP International Growth Class II		SP Prudential U.S. Emerging Growth Class II		Value Class II
ASSETS
Investments in mutual funds, at value			$2,546,689		$5,944,043		$163,485,235		$377,606		$270,384		$378,055		$227,509
Receivables:
	Due from Pacific Life Insurance Company		787		4,865		-		-		-		-		-
	Investments sold		-		-		8,449		31		12		29		10
Total Assets			2,547,476		5,948,908		163,493,684		377,637		270,396		378,084		227,519
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		-		-		8,486		70		22		66		97
	Investments purchased		922		5,150		-		-		-		-		-
Total Liabilities			922		5,150		8,486		70		22		66		97
NET ASSETS			$2,546,554		$5,943,758		$163,485,198		$377,567		$270,374		$378,018		$227,422
NET ASSETS CONSIST OF:
Accumulation units			$2,546,554		$5,943,758		$163,485,198		$377,567		$270,374		$378,018		$227,422
Contracts in payout (annuitization) period			-		-		-		-		-		-		-
NET ASSETS			$2,546,554		$5,943,758		$163,485,198		$377,567		$270,374		$378,018		$227,422
Units Outstanding			272,931		863,444		16,038,881		20,021		18,351		14,317		11,486
Accumulation Unit Values			$9.29 - $9.39		$6.67 - $7.15		$9.02 - $10.92		$18.68 - $19.58		$14.59 - $15.32		$26.27 - $27.52		$19.36 - $20.28
Cost of Investments			$2,812,826		$7,429,539		$167,904,371		$114,576		$174,290		$206,170		$113,693

See Notes to Financial Statements

H-7

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2014

		Variable Accounts
		Schwab VIT Balanced		Schwab VIT Balanced with Growth		Schwab VIT Growth		Schwab VIT Money Market (1)		Van Eck VIP Global Hard Assets Class S
ASSETS
Investments in mutual funds, at value			$40,815,261		$93,344,388		$102,661,197		$-		$7,849,268
Receivables:
	Due from Pacific Life Insurance Company		-		-		289,362		-		10,124
	Investments sold		1,351		9,332		-		-		-
Total Assets			40,816,612		93,353,720		102,950,559		-		7,859,392
LIABILITIES
Payables:
	Due to Pacific Life Insurance Company		1,402		9,367		-		-		-
	Investments purchased		-		-		289,367		-		10,484
Total Liabilities			1,402		9,367		289,367		-		10,484
NET ASSETS			$40,815,210		$93,344,353		$102,661,192		$-		$7,848,908
NET ASSETS CONSIST OF:
Accumulation units			$40,815,210		$93,344,353		$102,661,192		$-		$7,848,908
Contracts in payout (annuitization) period			-		-		-		-		-
NET ASSETS			$40,815,210		$93,344,353		$102,661,192		$-		$7,848,908
Units Outstanding			3,592,206		7,816,994		8,114,949		-		908,958
Accumulation Unit Values			$11.36 - $11.36		$11.94 - $11.94		$12.65 - $12.65		See Note (1)		$8.27 - $9.04
Cost of Investments			$38,877,498		$87,440,273		$95,520,540		$-		$9,144,987

(1) All units were fully redeemed or transferred prior to December 31, 2014 (See Note 1 in Notes to Financial Statements).

See Notes to Financial Statements

H-8

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2014

		Variable Accounts
		Diversified Bond			Floating Rate Income			Floating Rate Loan			High Yield Bond			Inflation Managed			Inflation Strategy			Managed Bond
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$-			$-			$-			$-			$-			$-			$-
EXPENSES
	Mortality and expense risk		1,060,889			303,187			1,569,609			3,089,160			4,121,385			232,525			6,907,685
	Administrative fees		169,086			56,028			259,949			465,107			601,467			37,351			1,007,494
	Total Expenses		1,229,975			359,215			1,829,558			3,554,267			4,722,852			269,876			7,915,179
Net Investment Loss			(1,229,975	)		(359,215	)		(1,829,558	)		(3,554,267	)		(4,722,852	)		(269,876	)		(7,915,179	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		38,205			(50,780	)		207,015			3,448,354			(1,265,364	)		(219,237	)		8,126,334
	Capital gains distributions from mutual fund investments (1)		-			-			-			-			-			-			-
Realized Gain (Loss) on Investments			38,205			(50,780	)		207,015			3,448,354			(1,265,364	)		(219,237	)		8,126,334
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			5,990,091			9,214			880,799			(2,121,241	)		11,789,349			608,002			15,555,604
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$4,798,321			($400,781	)		($741,744	)		($2,227,154	)		$5,801,133			$118,889			$15,766,759
		Short Duration Bond			Emerging Markets Debt			American Funds Growth			American Funds Growth-Income			Comstock			Dividend Growth			Equity Index
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$-			$-			$-			$-			$-			$-			$-
EXPENSES
	Mortality and expense risk		2,485,199			149,864			2,366,415			2,663,899			1,903,340			2,295,303			4,499,444
	Administrative fees		456,760			23,966			370,958			405,538			315,543			363,191			657,021
	Total Expenses		2,941,959			173,830			2,737,373			3,069,437			2,218,883			2,658,494			5,156,465
Net Investment Loss			(2,941,959	)		(173,830	)		(2,737,373	)		(3,069,437	)		(2,218,883	)		(2,658,494	)		(5,156,465	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized loss on sale of mutual fund investments		(27,358	)		(241,179	)		(265,774	)		(149,766	)		(144,988	)		(198,075	)		(521,081	)
	Capital gains distributions from mutual fund investments (1)		-			-			-			-			-			-			-
Realized Loss on Investments			(27,358	)		(241,179	)		(265,774	)		(149,766	)		(144,988	)		(198,075	)		(521,081	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			1,505,174			(296,142	)		15,638,515			20,845,978			15,605,889			24,103,016			46,492,623
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			($1,464,143	)		($711,151	)		$12,635,368			$17,626,775			$13,242,018			$21,246,447			$40,815,077
		Focused Growth			Growth			Large-Cap Growth			Large-Cap Value			Long/Short Large-Cap			Main Street Core			Mid-Cap Equity
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$-			$-			$-			$-			$-			$-			$-
EXPENSES
	Mortality and expense risk		1,088,726			2,737,602			1,521,300			2,970,441			382,163			3,697,990			2,648,562
	Administrative fees		156,859			336,893			220,896			413,765			59,736			483,384			357,660
	Total Expenses		1,245,585			3,074,495			1,742,196			3,384,206			441,899			4,181,374			3,006,222
Net Investment Loss			(1,245,585	)		(3,074,495	)		(1,742,196	)		(3,384,206	)		(441,899	)		(4,181,374	)		(3,006,222	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		5,087,326			7,083,870			(60,531	)		15,269,991			(16,409	)		9,310,184			7,901,319
	Capital gains distributions from mutual fund investments (1)		-			-			-			-			-			-			-
Realized Gain (Loss) on Investments			5,087,326			7,083,870			(60,531	)		15,269,991			(16,409	)		9,310,184			7,901,319
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			2,553,933			10,311,791			8,879,201			8,888,737			4,618,750			20,073,943			(484,043	)
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS			$6,395,674			$14,321,166			$7,076,474			$20,774,522			$4,160,442			$25,202,753			$4,411,054

(1) See Note 3 in Notes to Financial Statements.

See Notes to Financial Statements

H-9

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2014

		Variable Accounts
		Mid-Cap Growth			Mid-Cap Value			Small-Cap Equity			Small-Cap Growth			Small-Cap Index			Small-Cap Value			Value Advantage
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$-			$-			$-			$-			$-			$-			$-
EXPENSES
	Mortality and expense risk		2,068,010			1,037,158			510,651			1,118,121			2,287,729			1,419,582			102,202
	Administrative fees		314,493			166,341			79,660			172,721			317,013			213,132			17,959
	Total Expenses		2,382,503			1,203,499			590,311			1,290,842			2,604,742			1,632,714			120,161
Net Investment Loss			(2,382,503	)		(1,203,499	)		(590,311	)		(1,290,842	)		(2,604,742	)		(1,632,714	)		(120,161	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		(157,798	)		727,865			220,324			(723,461	)		11,109,921			1,080,529			(50,573	)
	Capital gains distributions from mutual fund investments (1)		-			-			-			-			-			-			-
Realized Gain (Loss) on Investments			(157,798	)		727,865			220,324			(723,461	)		11,109,921			1,080,529			(50,573	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			14,409,888			3,583,580			430,120			476,182			(4,466,617	)		5,116,045			1,372,923
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$11,869,587			$3,107,946			$60,133			($1,538,121	)		$4,038,562			$4,563,860			$1,202,189
		Health Sciences			Real Estate			Technology			Emerging Markets			International Large-Cap			International Small-Cap			International Value
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$-			$-			$-			$-			$-			$-			$-
EXPENSES
	Mortality and expense risk		2,788,970			2,272,329			881,062			2,607,655			2,924,814			514,552			1,848,959
	Administrative fees		413,450			334,777			130,739			381,101			454,285			81,916			259,734
	Total Expenses		3,202,420			2,607,106			1,011,801			2,988,756			3,379,099			596,468			2,108,693
Net Investment Loss			(3,202,420	)		(2,607,106	)		(1,011,801	)		(2,988,756	)		(3,379,099	)		(596,468	)		(2,108,693	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		(370,579	)		767,291			111,390			8,805,149			(439,901	)		38,782			2,440,342
	Capital gains distributions from mutual fund investments (1)		-			-			-			-			-			-			-
Realized Gain (Loss) on Investments			(370,579	)		767,291			111,390			8,805,149			(439,901	)		38,782			2,440,342
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			46,244,237			45,633,249			6,122,576			(18,697,415	)		(12,504,571	)		(1,024,502	)		(17,947,699	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$42,671,238			$43,793,434			$5,222,165			($12,881,022	)		($16,323,571	)		($1,582,188	)		($17,616,050	)
		Currency Strategies			Global Absolute Return			Precious Metals			American Funds Asset Allocation			Pacific Dynamix - Conservative Growth			Pacific Dynamix - Moderate Growth			Pacific Dynamix - Growth
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$-			$-			$-			$-			$-			$-			$-
EXPENSES
	Mortality and expense risk		32,798			85,915			139,140			20,889,854			4,036,312			14,130,018			5,136,238
	Administrative fees		5,500			14,902			22,234			3,491,416			664,470			2,409,994			840,982
	Total Expenses		38,298			100,817			161,374			24,381,270			4,700,782			16,540,012			5,977,220
Net Investment Loss			(38,298	)		(100,817	)		(161,374	)		(24,381,270	)		(4,700,782	)		(16,540,012	)		(5,977,220	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized loss on sale of mutual fund investments		(30,563	)		(6,298	)		(1,476,432	)		(1,471,032	)		(109,441	)		(830,698	)		(510,761	)
	Capital gains distributions from mutual fund investments (1)		-			-			-			-			-			-			-
Realized Loss on Investments			(30,563	)		(6,298	)		(1,476,432	)		(1,471,032	)		(109,441	)		(830,698	)		(510,761	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			138,527			473,447			(667,772	)		89,449,357			18,414,658			67,501,929			23,629,271
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$69,666			$366,332			($2,305,578	)		$63,597,055			$13,604,435			$50,131,219			$17,141,290

(1) See Note 3 in Notes to Financial Statements.

See Notes to Financial Statements

H-10

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2014

		Variable Accounts
		Portfolio Optimization Conservative			Portfolio Optimization Moderate- Conservative			Portfolio Optimization Moderate			Portfolio Optimization Growth			Portfolio Optimization Aggressive- Growth			Invesco V.I. Balanced-Risk Allocation Series II
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$-			$-			$-			$-			$-			$-
EXPENSES
	Mortality and expense risk		31,818,614			47,370,772			185,118,039			157,673,422			32,536,442			5,167,881
	Administrative fees		4,677,538			6,950,522			27,119,712			22,806,184			4,743,134			828,618
	Total Expenses		36,496,152			54,321,294			212,237,751			180,479,606			37,279,576			5,996,499
Net Investment Loss			(36,496,152	)		(54,321,294	)		(212,237,751	)		(180,479,606	)		(37,279,576	)		(5,996,499	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		55,897,780			80,759,680			338,139,477			374,326,934			87,288,105			(895,718	)
	Capital gains distributions from mutual fund investments (1)		-			-			-			-			-			23,383,313
Realized Gain on Investments			55,897,780			80,759,680			338,139,477			374,326,934			87,288,105			22,487,595
CHANGE IN NET UNREALIZED APPRECIATION ON INVESTMENTS			29,608,955			67,111,151			316,653,094			219,889,554			39,166,017			84,578
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS			$49,010,583			$93,549,537			$442,554,820			$413,736,882			$89,174,546			$16,575,674
		Invesco V.I. Equity and Income Series II (2)			American Century VP Mid Cap Value Class II			American Funds IS Asset Allocation Fund Class 4 (2)			American Funds IS Capital Income Builder Class 4 (2)			American Funds IS Global Growth Fund Class 4			American Funds IS Growth Fund Class 4 (2)
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$34,648			$158,377			$154,003			$144,697			$149,144			$32,797
EXPENSES
	Mortality and expense risk		18,265			182,841			19,056			48,014			72,198			8,070
	Administrative fees		3,218			31,981			4,536			10,249			16,762			1,842
	Total Expenses		21,483			214,822			23,592			58,263			88,960			9,912
Net Investment Income (Loss)			13,165			(56,445	)		130,411			86,434			60,184			22,885
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized loss on sale of mutual fund investments		(159,280	)		(162,125	)		(1,889	)		(23,877	)		(142,507	)		(1,448	)
	Capital gains distributions from mutual fund investments (1)		106,860			625,403			28,888			20,774			654,218			35,791
Realized Gain (Loss) on Investments			(52,420	)		463,278			26,999			(3,103	)		511,711			34,343
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			75,136			1,719,640			(13,423	)		(350,298	)		(422,666	)		76,234
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$35,881			$2,126,473			$143,987			($266,967	)		$149,229			$133,462
		American Funds IS Growth-Income Fund Class 4 (2)			American Funds IS International Fund Class 4 (2)			American Funds IS International Growth and Income Fund Class 4			American Funds IS Managed Risk Asset Allocation Fund Class P2			American Funds IS New World Fund Class 4			American Funds IS U.S. Government/ AAA-Rated Securities Fund Class 4
INVESTMENT INCOME
	Dividends from mutual fund investments (1)		$84,761			$124,434			$495,079			$15,620			$124,032			$309,734
EXPENSES
	Mortality and expense risk		13,634			26,795			84,911			213,160			60,043			97,315
	Administrative fees		3,069			6,975			17,721			40,652			12,550			16,089
	Total Expenses		16,703			33,770			102,632			253,812			72,593			113,404
Net Investment Income (Loss)			68,058			90,664			392,447			(238,192	)		51,439			196,330
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized loss on sale of mutual fund investments		(471	)		(29,149	)		(49,764	)		(113,277	)		(361,566	)		(172,531	)
	Capital gains distributions from mutual fund investments (1)		27,924			-			63,501			-			704,074			-
Realized Gain (Loss) on Investments			27,453			(29,149	)		13,737			(113,277	)		342,508			(172,531	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			68,208			(457,083	)		(1,318,720	)		774,323			(1,523,653	)		(44,283	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$163,719			($395,568	)		($912,536	)		$422,854			($1,129,706	)		($20,484	)

(1) See Note 3 in Notes to Financial Statements.

(2) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

See Notes to Financial Statements

H-11

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2014

		Variable Accounts
		BlackRock Capital Appreciation V.I. Class III			BlackRock Global Allocation V.I. Class III			BlackRock iShares Alternative Strategies V.I. Class I (1)			BlackRock iShares Dynamic Allocation V.I. Class I (1)			BlackRock iShares Dynamic Fixed Income V.I. Class I (1)			BlackRock iShares Equity Appreciation V.I. Class I (1)
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$-			$52,259,391			$50,591			$49,989			$24,104			$34,093
EXPENSES
	Mortality and expense risk		252,742			28,412,826			10,507			16,666			13,422			10,192
	Administrative fees		55,946			4,563,086			2,069			3,331			2,415			2,087
	Total Expenses		308,688			32,975,912			12,576			19,997			15,837			12,279
Net Investment Income (Loss)			(308,688	)		19,283,479			38,015			29,992			8,267			21,814
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		43,137			(2,565,379	)		(3,128	)		(4,958	)		(1,455	)		(3,024	)
	Capital gains distributions from mutual fund investments (2)		6,036,197			202,135,170			2,731			3,924			471			-
Realized Gain (Loss) on Investments			6,079,334			199,569,791			(397	)		(1,034	)		(984	)		(3,024	)
CHANGE IN NET UNREALIZED DEPRECIATION ON INVESTMENTS			(2,949,278	)		(207,989,335	)		(46,907	)		(57,605	)		(6,185	)		(76,036	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$2,821,368			$10,863,935			($9,289	)		($28,647	)		$1,098			($57,246	)
		Fidelity VIP Contrafund Service Class 2			Fidelity VIP FundsManager 60% Service Class 2			Fidelity VIP Money Market Service Class (1)			Fidelity VIP Strategic Income Service Class 2			First Trust/ Dow Jones Dividend & Income Allocation Class I			First Trust Multi Income Allocation Class I (1)
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$512,361			$1,421,771			$17,615			$498,136			$993,087			$28,977
EXPENSES
	Mortality and expense risk		550,336			1,231,687			2,258,526			97,375			1,420,922			11,468
	Administrative fees		102,614			213,961			335,684			18,516			243,952			2,403
	Total Expenses		652,950			1,445,648			2,594,210			115,891			1,664,874			13,871
Net Investment Income (Loss)			(140,589	)		(23,877	)		(2,576,595	)		382,245			(671,787	)		15,106
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		(220,478	)		(241,214	)		-			(50,535	)		(76,133	)		(3,214	)
	Capital gains distributions from mutual fund investments (2)		1,426,610			2,654,316			-			199,554			-			-
Realized Gain (Loss) on Investments			1,206,132			2,413,102			-			149,019			(76,133	)		(3,214	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			4,000,967			1,651,332			-			(680,321	)		11,371,118			54,233
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$5,066,510			$4,040,557			($2,576,595	)		($149,057	)		$10,623,198			$66,125
		Franklin Founding Funds Allocation VIP Class 2			Franklin Founding Funds Allocation VIP Class 4			Franklin Mutual Global Discovery VIP Class 2			Franklin Rising Dividends VIP Class 2			Templeton Global Bond VIP Class 2			GE Investments Total Return Class 3
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$216,050			$13,164,297			$3,066,053			$823,632			$2,421,077			$7,677,518
EXPENSES
	Mortality and expense risk		58,948			6,083,098			1,090,288			697,766			537,086			5,705,072
	Administrative fees		12,318			936,857			223,841			127,650			99,993			903,100
	Total Expenses		71,266			7,019,955			1,314,129			825,416			637,079			6,608,172
Net Investment Income (Loss)			144,784			6,144,342			1,751,924			(1,784	)		1,783,998			1,069,346
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized loss on sale of mutual fund investments		(66,929	)		(2,260,213	)		(908,341	)		(420,339	)		(718,754	)		(543,620	)
	Capital gains distributions from mutual fund investments (2)		6,590			409,025			9,488,730			1,211,992			-			14,734,135
Realized Gain (Loss) on Investments			(60,339	)		(1,851,188	)		8,580,389			791,653			(718,754	)		14,190,515
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			(9,787	)		11,131			(5,002,787	)		4,133,044			(1,195,768	)		2,880,594
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$74,658			$4,304,285			$5,329,526			$4,922,913			($130,524	)		$18,140,455

(1) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(2) See Note 3 in Notes to Financial Statements.

See Notes to Financial Statements

H-12

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2014

		Variable Accounts
		Ivy Funds VIP Asset Strategy (1)			Janus Aspen Series Balanced Service Shares			Janus Aspen Series Flexible Bond Service Shares (1)			JPMorgan Insurance Trust Core Bond Class 1			JPMorgan Insurance Trust Mid Cap Value Class 1			JPMorgan Insurance Trust U.S. Equity Class 1
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$1,243			$6,236,222			$99,885			$19,503			$556			$497
EXPENSES
	Mortality and expense risk		37,768			4,488,861			22,734			6,777			1,299			687
	Administrative fees		7,576			775,917			4,298			809			152			82
	Total Expenses		45,344			5,264,778			27,032			7,586			1,451			769
Net Investment Income (Loss)			(44,101	)		971,444			72,853			11,917			(895	)		(272	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		(39,177	)		(705,593	)		(4,283	)		(78	)		7,642			3,678
	Capital gains distributions from mutual fund investments (2)		32,941			9,088,750			-			-			3,792			-
Realized Gain (Loss) on Investments			(6,236	)		8,383,157			(4,283	)		(78	)		11,434			3,678
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			(271,234	)		16,179,307			(72,142	)		4,831			642			3,007
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			($321,571	)		$25,533,908			($3,572	)		$16,670			$11,181			$6,413
		Lord Abbett Bond Debenture Class VC			Lord Abbett International Core Equity Class VC			Lord Abbett Total Return Class VC			MFS Investors Growth Stock Series - Service Class			MFS Total Return Series - Service Class			MFS Utilities Series - Service Class
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$1,857,885			$555,293			$4,600,488			$144,040			$3,410,560			$510,373
EXPENSES
	Mortality and expense risk		347,605			284,786			1,303,475			288,220			2,258,318			295,160
	Administrative fees		60,995			63,655			295,973			67,584			380,660			50,487
	Total Expenses		408,600			348,441			1,599,448			355,804			2,638,978			345,647
Net Investment Gain (Loss)			1,449,285			206,852			3,001,040			(211,764	)		771,582			164,726
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized loss on sale of mutual fund investments		(232,809	)		(20,188	)		(60,111	)		(6,695	)		(492,344	)		(295,379	)
	Capital gains distributions from mutual fund investments (2)		1,013,094			1,540,958			417,964			2,909,170			5,273,138			983,748
Realized Gain on Investments			780,285			1,520,770			357,853			2,902,475			4,780,794			688,369
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			(1,710,211	)		(6,639,105	)		5,696,968			2,469,855			7,449,633			863,317
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$519,359			($4,911,483	)		$9,055,861			$5,160,566			$13,002,009			$1,716,412
		MFS Value Series - Service Class			PIMCO All Asset All Authority- Advisor Class (1)			PIMCO CommodityRealReturn Strategy - Advisor Class			PIMCO Global Multi-Asset Managed Allocation - Advisor Class			Jennison Class II			SP International Growth Class II
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$775,964			$99,845			$18,415			$4,361,530			$-			$-
EXPENSES
	Mortality and expense risk		377,918			10,172			80,329			2,439,961			5,796			4,302
	Administrative fees		82,640			1,972			13,079			398,454			567			423
	Total Expenses		460,558			12,144			93,408			2,838,415			6,363			4,725
Net Investment Income (Loss)			315,406			87,701			(74,993	)		1,523,115			(6,363	)		(4,725	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		(21,425	)		(12,815	)		(318,943	)		(10,690,406	)		20,308			2,068
	Capital gains distributions from mutual fund investments (2)		1,820,588			1,513			-			-			-			-
Realized Gain (Loss) on Investments			1,799,163			(11,302	)		(318,943	)		(10,690,406	)		20,308			2,068
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			3,215,209			(266,138	)		(1,206,898	)		15,476,768			14,856			(19,905	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$5,329,778			($189,739	)		($1,600,834	)		$6,309,477			$28,801			($22,562	)

(1) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(2) See Note 3 in Notes to Financial Statements.

See Notes to Financial Statements

H-13

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2014

		Variable Accounts
		SP Prudential U.S. Emerging Growth Class II			Value Class II			Schwab VIT Balanced			Schwab VIT Balanced with Growth			Schwab VIT Growth			Schwab VIT Money Market (1)
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$-			$-			$203,213			$632,226			$746,768			$11
EXPENSES
	Mortality and expense risk		5,588			3,445			121,570			291,351			326,020			458
	Administrative fees		537			358			86,835			208,108			232,872			327
	Total Expenses		6,125			3,803			208,405			499,459			558,892			785
Net Investment Income (Loss)			(6,125	)		(3,803	)		(5,192	)		132,767			187,876			(774	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized gain (loss) on sale of mutual fund investments		1,907			12,810			(17,031	)		(44,099	)		(70,494	)		-
	Capital gains distributions from mutual fund investments (2)		-			-			2,831			11,708			5,065			-
Realized Gain (Loss) on Investments			1,907			12,810			(14,200	)		(32,391	)		(65,429	)		-
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS			29,950			9,194			1,047,003			2,504,125			2,778,239			-
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$25,732			$18,201			$1,027,611			$2,604,501			$2,900,686			($774	)
		Van Eck VIP Global Hard Assets Class S
INVESTMENT INCOME
	Dividends from mutual fund investments (2)		$-
EXPENSES
	Mortality and expense risk		79,362
	Administrative fees		15,365
	Total Expenses		94,727
Net Investment Loss			(94,727	)
REALIZED GAIN (LOSS) ON INVESTMENTS
	Realized loss on sale of mutual fund investments		(687,834	)
	Capital gains distributions from mutual fund investments (2)		-
Realized Loss on Investments			(687,834	)
CHANGE IN NET UNREALIZED DEPRECIATION ON INVESTMENTS			(1,593,613	)
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS			($2,376,174	)

(1) Operations commenced during 2014 and all units were fully redeemed or transferred prior to December 31, 2014 (See Note 1 in Notes to Financial Statements).

(2) See Note 3 in Notes to Financial Statements.

See Notes to Financial Statements

H-14

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS

		Variable Accounts
		Year Ended			Year Ended			Year Ended			Year/Period Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Diversified Bond						Floating Rate Income (1)						Floating Rate Loan
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($1,229,975	)		($1,161,553	)		($359,215	)		($82,710	)		($1,829,558	)		($1,365,796	)
	Realized gain (loss) on investments		38,205			(1,403,920	)		(50,780	)		(19,541	)		207,015			(823,790	)
	Change in net unrealized appreciation on investments		5,990,091			348,324			9,214			314,659			880,799			4,677,317
Net Increase (Decrease) in Net Assets Resulting from Operations			4,798,321			(2,217,149	)		(400,781	)		212,408			(741,744	)		2,487,731
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		12,559,602			6,091,509			8,612,991			6,323,828			17,197,347			15,224,007
	Transfers between variable and fixed accounts, net		21,371,536			(2,662,482	)		9,541,802			10,247,026			(5,215,957	)		51,683,720
	Contract charges and deductions		(2,562,763	)		(2,366,709	)		(793,194	)		(43,622	)		(4,106,254	)		(2,565,491	)
	Surrenders		(9,890,702	)		(8,693,232	)		(4,160,097	)		(747,137	)		(16,206,545	)		(12,577,871	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		48			60			-			-			2,827			-
	Other		(1,398	)		283			281			(625	)		(1,882	)		(2,964	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			21,476,323			(7,630,571	)		13,201,783			15,779,470			(8,330,464	)		51,761,401
NET INCREASE (DECREASE) IN NET ASSETS			26,274,644			(9,847,720	)		12,801,002			15,991,878			(9,072,208	)		54,249,132
NET ASSETS
	Beginning of Year or Period		71,664,212			81,511,932			15,991,878			-			122,977,580			68,728,448
	End of Year or Period		$97,938,856			$71,664,212			$28,792,880			$15,991,878			$113,905,372			$122,977,580
		High Yield Bond						Inflation Managed						Inflation Strategy
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($3,554,267	)		($3,643,143	)		($4,722,852	)		($6,109,505	)		($269,876	)		($285,889	)
	Realized gain (loss) on investments		3,448,354			1,931,030			(1,265,364	)		(2,762,409	)		(219,237	)		(260,409	)
	Change in net unrealized appreciation (depreciation) on investments		(2,121,241	)		15,058,499			11,789,349			(35,446,367	)		608,002			(1,584,788	)
Net Increase (Decrease) in Net Assets Resulting from Operations			(2,227,154	)		13,346,386			5,801,133			(44,318,281	)		118,889			(2,131,086	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		18,914,849			14,480,989			9,923,668			19,021,862			2,208,942			2,192,057
	Transfers between variable and fixed accounts, net		(14,994,984	)		(1,669,742	)		(12,950,629	)		(53,487,921	)		1,844,917			(1,703,958	)
	Contract charges and deductions		(5,413,369	)		(6,386,256	)		(9,240,601	)		(10,798,247	)		(376,669	)		(108,163	)
	Surrenders		(25,877,810	)		(27,071,627	)		(37,339,725	)		(45,164,157	)		(2,692,690	)		(1,532,382	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(29,727	)		3,070			8,175			12,608			-			117
	Other		(13,066	)		7,597			5,155			(12,685	)		(658	)		185
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			(27,414,107	)		(20,635,969	)		(49,593,957	)		(90,428,540	)		983,842			(1,152,144	)
NET INCREASE (DECREASE) IN NET ASSETS			(29,641,261	)		(7,289,583	)		(43,792,824	)		(134,746,821	)		1,102,731			(3,283,230	)
NET ASSETS
	Beginning of Year		247,759,040			255,048,623			331,929,604			466,676,425			17,061,445			20,344,675
	End of Year		$218,117,779			$247,759,040			$288,136,780			$331,929,604			$18,164,176			$17,061,445

(1) Operations commenced on May 2, 2013.

See Notes to Financial Statements

H-15

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Managed Bond						Short Duration Bond						Emerging Markets Debt
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($7,915,179	)		($9,295,116	)		($2,941,959	)		($2,528,158	)		($173,830	)		($149,774	)
	Realized gain (loss) on investments		8,126,334			4,695,326			(27,358	)		(221,089	)		(241,179	)		(358,402	)
	Change in net unrealized appreciation (depreciation) on investments		15,555,604			(19,527,440	)		1,505,174			1,014,315			(296,142	)		(430,925	)
Net Increase (Decrease) in Net Assets Resulting from Operations			15,766,759			(24,127,230	)		(1,464,143	)		(1,734,932	)		(711,151	)		(939,101	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		26,854,140			33,316,956			54,270,589			49,709,714			1,714,670			2,663,056
	Transfers between variable and fixed accounts, net		(17,688,615	)		(41,404,057	)		38,835,429			52,095,052			1,021,586			5,153,106
	Contract charges and deductions		(17,340,799	)		(19,075,010	)		(7,213,896	)		(7,009,379	)		(216,609	)		(102,063	)
	Surrenders		(61,476,580	)		(66,135,175	)		(23,426,048	)		(26,064,379	)		(1,581,262	)		(1,154,372	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(38,508	)		26,451			3,434			2,924			-			-
	Other		(8,609	)		(1,140	)		(3,034	)		(734	)		(784	)		(952	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			(69,698,971	)		(93,271,975	)		62,466,474			68,733,198			937,601			6,558,775
NET INCREASE (DECREASE) IN NET ASSETS			(53,932,212	)		(117,399,205	)		61,002,331			66,998,266			226,450			5,619,674
NET ASSETS
	Beginning of Year		561,031,229			678,430,434			227,410,380			160,412,114			11,993,623			6,373,949
	End of Year		$507,099,017			$561,031,229			$288,412,711			$227,410,380			$12,220,073			$11,993,623
		American Funds Growth						American Funds Growth-Income						Comstock
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($2,737,373	)		($2,251,063	)		($3,069,437	)		($2,485,061	)		($2,218,883	)		($1,803,452	)
	Realized gain (loss) on investments		(265,774	)		2,145,857			(149,766	)		1,299,202			(144,988	)		(97,142	)
	Change in net unrealized appreciation on investments		15,638,515			38,358,475			20,845,978			46,975,310			15,605,889			39,813,308
Net Increase in Net Assets Resulting from Operations			12,635,368			38,253,269			17,626,775			45,789,451			13,242,018			37,912,714
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		35,111,705			19,822,441			40,539,290			22,150,436			29,954,384			23,458,199
	Transfers between variable and fixed accounts, net		3,997,886			(377,446	)		2,733,252			5,047,625			(5,115,345	)		31,487,146
	Contract charges and deductions		(4,196,548	)		(2,604,311	)		(4,888,850	)		(4,116,229	)		(3,696,269	)		(2,056,298	)
	Surrenders		(16,031,399	)		(15,328,654	)		(19,237,757	)		(18,568,386	)		(12,726,218	)		(12,378,813	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(6,816	)		(952	)		(9,857	)		(1,650	)		152			(3,144	)
	Other		(12,260	)		30,491			2,761			24,186			3,478			17,670
Net Increase in Net Assets Derived from Contract Owner Transactions			18,862,568			1,541,569			19,138,839			4,535,982			8,420,182			40,524,760
NET INCREASE IN NET ASSETS			31,497,936			39,794,838			36,765,614			50,325,433			21,662,200			78,437,474
NET ASSETS
	Beginning of Year		179,720,589			139,925,751			197,464,056			147,138,623			174,677,910			96,240,436
	End of Year		$211,218,525			$179,720,589			$234,229,670			$197,464,056			$196,340,110			$174,677,910

See Notes to Financial Statements

H-16

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Dividend Growth						Equity Index						Focused Growth
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($2,658,494	)		($2,128,420	)		($5,156,465	)		($4,084,022	)		($1,245,585	)		($1,172,960	)
	Realized gain (loss) on investments		(198,075	)		(13,742	)		(521,081	)		232,276			5,087,326			3,923,023
	Change in net unrealized appreciation on investments		24,103,016			39,957,313			46,492,623			76,542,585			2,553,933			19,024,215
Net Increase in Net Assets Resulting from Operations			21,246,447			37,815,151			40,815,077			72,690,839			6,395,674			21,774,278
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		28,742,282			23,594,396			59,388,051			36,334,122			5,590,949			4,094,123
	Transfers between variable and fixed accounts, net		17,016,483			16,727,338			38,991,296			14,473,500			(2,818,609	)		(6,527,563	)
	Contract charges and deductions		(5,346,001	)		(2,937,568	)		(7,606,264	)		(5,935,378	)		(1,427,619	)		(1,914,562	)
	Surrenders		(15,510,240	)		(11,461,020	)		(30,333,173	)		(26,706,358	)		(7,444,784	)		(8,186,573	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(283	)		(1,063	)		(15,137	)		(951	)		(840	)		6
	Other		3,238			4,643			(17,187	)		(9,174	)		4,512			(3,767	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			24,905,479			25,926,726			60,407,586			18,155,761			(6,096,391	)		(12,538,336	)
NET INCREASE IN NET ASSETS			46,151,926			63,741,877			101,222,663			90,846,600			299,283			9,235,942
NET ASSETS
	Beginning of Year		187,266,400			123,524,523			325,696,639			234,850,039			87,944,691			78,708,749
	End of Year		$233,418,326			$187,266,400			$426,919,302			$325,696,639			$88,243,974			$87,944,691
		Growth						Large-Cap Growth						Large-Cap Value
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($3,074,495	)		($2,877,052	)		($1,742,196	)		($1,560,107	)		($3,384,206	)		($3,188,902	)
	Realized gain (loss) on investments		7,083,870			2,467,052			(60,531	)		3,852,054			15,269,991			4,729,254
	Change in net unrealized appreciation on investments		10,311,791			54,748,395			8,879,201			28,747,416			8,888,737			53,578,568
Net Increase in Net Assets Resulting from Operations			14,321,166			54,338,395			7,076,474			31,039,363			20,774,522			55,118,920
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		7,066,072			3,985,316			10,067,598			7,053,179			11,249,823			7,457,717
	Transfers between variable and fixed accounts, net		(6,361,130	)		(1,038,884	)		(2,879,612	)		(2,576,822	)		(12,461,365	)		10,988,719
	Contract charges and deductions		(5,638,830	)		(5,077,411	)		(2,017,678	)		(1,874,267	)		(4,834,062	)		(4,846,517	)
	Surrenders		(19,295,153	)		(18,451,782	)		(11,318,711	)		(11,967,378	)		(22,539,352	)		(22,815,197	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		55			589			(8,197	)		306			2,146			583
	Other		(6,952	)		7,465			3,680			53,774			8,789			70,056
Net Decrease in Net Assets Derived from Contract Owner Transactions			(24,235,938	)		(20,574,707	)		(6,152,920	)		(9,311,208	)		(28,574,021	)		(9,144,639	)
NET INCREASE (DECREASE) IN NET ASSETS			(9,914,772	)		33,763,688			923,554			21,728,155			(7,799,499	)		45,974,281
NET ASSETS
	Beginning of Year		216,345,098			182,581,410			118,896,374			97,168,219			232,345,834			186,371,553
	End of Year		$206,430,326			$216,345,098			$119,819,928			$118,896,374			$224,546,335			$232,345,834

See Notes to Financial Statements

H-17

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Long/Short Large-Cap						Main Street Core						Mid-Cap Equity
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($441,899	)		($318,725	)		($4,181,374	)		($3,956,407	)		($3,006,222	)		($2,854,531	)
	Realized gain (loss) on investments		(16,409	)		49,249			9,310,184			10,193,540			7,901,319			5,039,428
	Change in net unrealized appreciation (depreciation) on investments		4,618,750			6,629,060			20,073,943			63,690,962			(484,043	)		52,440,780
Net Increase in Net Assets Resulting from Operations			4,160,442			6,359,584			25,202,753			69,928,095			4,411,054			54,625,677
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		2,639,010			1,403,425			15,520,257			11,094,515			6,019,755			4,368,610
	Transfers between variable and fixed accounts, net		11,499,525			3,550,185			4,885,502			(8,731,289	)		(2,403,643	)		(2,419,574	)
	Contract charges and deductions		(835,896	)		(320,203	)		(9,591,157	)		(7,913,247	)		(4,168,843	)		(4,792,302	)
	Surrenders		(2,562,755	)		(1,591,133	)		(27,545,257	)		(25,760,149	)		(19,294,952	)		(20,648,007	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(36,614	)		8,622			847			(1,646	)
	Other		(3,183	)		(2,410	)		(3,863	)		8,170			(8,303	)		54,034
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			10,736,701			3,039,864			(16,771,132	)		(31,293,378	)		(19,855,139	)		(23,438,885	)
NET INCREASE (DECREASE) IN NET ASSETS			14,897,143			9,399,448			8,431,621			38,634,717			(15,444,085	)		31,186,792
NET ASSETS
	Beginning of Year		27,702,491			18,303,043			290,364,313			251,729,596			202,234,165			171,047,373
	End of Year		$42,599,634			$27,702,491			$298,795,934			$290,364,313			$186,790,080			$202,234,165
		Mid-Cap Growth						Mid-Cap Value						Small-Cap Equity
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($2,382,503	)		($2,115,094	)		($1,203,499	)		($931,268	)		($590,311	)		($508,564	)
	Realized gain (loss) on investments		(157,798	)		1,005,563			727,865			(169,641	)		220,324			148,227
	Change in net unrealized appreciation on investments		14,409,888			39,723,732			3,583,580			17,053,113			430,120			10,167,396
Net Increase in Net Assets Resulting from Operations			11,869,587			38,614,201			3,107,946			15,952,204			60,133			9,807,059
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		23,588,106			13,912,134			12,258,046			8,189,545			4,068,590			3,678,130
	Transfers between variable and fixed accounts, net		1,939,199			6,360,542			(12,354,069	)		28,633,195			(3,016,880	)		7,024,705
	Contract charges and deductions		(3,645,612	)		(2,513,935	)		(1,621,257	)		(768,961	)		(751,161	)		(549,852	)
	Surrenders		(14,560,289	)		(15,545,690	)		(8,645,194	)		(6,293,395	)		(3,277,468	)		(3,528,892	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(5,691	)		521			(388	)		12			23			28
	Other		(8,009	)		(3,264	)		(5,049	)		(6,854	)		2,724			(1,538	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			7,307,704			2,210,308			(10,367,911	)		29,753,542			(2,974,172	)		6,622,581
NET INCREASE (DECREASE) IN NET ASSETS			19,177,291			40,824,509			(7,259,965	)		45,705,746			(2,914,039	)		16,429,640
NET ASSETS
	Beginning of Year		168,244,635			127,420,126			81,008,696			35,302,950			42,926,309			26,496,669
	End of Year		$187,421,926			$168,244,635			$73,748,731			$81,008,696			$40,012,270			$42,926,309

See Notes to Financial Statements

H-18

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year/Period Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Small-Cap Growth						Small-Cap Index						Small-Cap Value
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($1,290,842	)		($1,136,744	)		($2,604,742	)		($2,525,540	)		($1,632,714	)		($1,459,061	)
	Realized gain (loss) on investments		(723,461	)		52,365			11,109,921			2,525,993			1,080,529			142,978
	Change in net unrealized appreciation (depreciation) on investments		476,182			23,576,453			(4,466,617	)		51,032,969			5,116,045			27,361,193
Net Increase (Decrease) in Net Assets Resulting from Operations			(1,538,121	)		22,492,074			4,038,562			51,033,422			4,563,860			26,045,110
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		10,201,595			12,461,813			13,114,580			9,251,335			8,649,466			6,458,133
	Transfers between variable and fixed accounts, net		130,112			10,172,734			(19,185,719	)		12,897,174			(873,844	)		8,798,473
	Contract charges and deductions		(2,412,202	)		(1,447,999	)		(3,603,856	)		(4,007,855	)		(1,400,438	)		(2,146,732	)
	Surrenders		(8,437,145	)		(7,645,890	)		(16,937,906	)		(17,700,426	)		(10,381,043	)		(9,526,632	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(3,986	)		(7,394	)		5,226			862			(192	)		(330	)
	Other		(11,827	)		7,969			(11,308	)		4,279			(1,677	)		22,259
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			(533,453	)		13,541,233			(26,618,983	)		445,369			(4,007,728	)		3,605,171
NET INCREASE (DECREASE) IN NET ASSETS			(2,071,574	)		36,033,307			(22,580,421	)		51,478,791			556,132			29,650,281
NET ASSETS
	Beginning of Year		102,133,663			66,100,356			196,104,294			144,625,503			113,335,590			83,685,309
	End of Year		$100,062,089			$102,133,663			$173,523,873			$196,104,294			$113,891,722			$113,335,590
		Value Advantage (1)						Health Sciences						Real Estate
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($120,161	)		($11,458	)		($3,202,420	)		($2,352,445	)		($2,607,106	)		($2,270,583	)
	Realized gain (loss) on investments		(50,573	)		(632	)		(370,579	)		(47,586	)		767,291			1,527,288
	Change in net unrealized appreciation on investments		1,372,923			234,478			46,244,237			67,079,254			45,633,249			1,123,561
Net Increase in Net Assets Resulting from Operations			1,202,189			222,388			42,671,238			64,679,223			43,793,434			380,266
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		4,303,156			1,638,932			23,877,154			12,386,799			13,375,966			9,646,136
	Transfers between variable and fixed accounts, net		7,481,430			1,582,251			8,468,075			21,297,988			18,439,908			2,830,535
	Contract charges and deductions		(186,171	)		(111	)		(2,746,391	)		(2,262,441	)		(2,936,944	)		(3,492,412	)
	Surrenders		(514,713	)		(10,224	)		(19,649,285	)		(14,678,909	)		(17,204,515	)		(14,429,030	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			1,180			18			5,092			1,725
	Other		843			(207	)		(557	)		(5,868	)		3,551			5,898
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			11,084,545			3,210,641			9,950,176			16,737,587			11,683,058			(5,437,148	)
NET INCREASE (DECREASE) IN NET ASSETS			12,286,734			3,433,029			52,621,414			81,416,810			55,476,492			(5,056,882	)
NET ASSETS
	Beginning of Year or Period		3,433,029			-			193,698,320			112,281,510			143,014,249			148,071,131
	End of Year or Period		$15,719,763			$3,433,029			$246,319,734			$193,698,320			$198,490,741			$143,014,249

(1) Operations commenced on May 8, 2013.

See Notes to Financial Statements

H-19

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Technology						Emerging Markets						International Large-Cap
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($1,011,801	)		($864,573	)		($2,988,756	)		($3,021,974	)		($3,379,099	)		($3,090,948	)
	Realized gain (loss) on investments		111,390			313,320			8,805,149			5,436,355			(439,901	)		260,400
	Change in net unrealized appreciation (depreciation) on investments		6,122,576			11,199,036			(18,697,415	)		11,939,281			(12,504,571	)		37,670,866
Net Increase (Decrease) in Net Assets Resulting from Operations			5,222,165			10,647,783			(12,881,022	)		14,353,662			(16,323,571	)		34,840,318
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		6,450,949			3,050,533			14,140,219			12,335,963			28,719,785			27,031,345
	Transfers between variable and fixed accounts, net		4,724,969			5,231,168			4,373,789			(11,113,791	)		15,915,077			1,393,024
	Contract charges and deductions		(1,013,940	)		(853,217	)		(4,685,374	)		(3,248,217	)		(5,482,780	)		(4,101,596	)
	Surrenders		(6,130,566	)		(5,988,294	)		(21,190,423	)		(20,068,508	)		(21,269,380	)		(19,657,849	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		51			628			1,762			(580	)		669			1,319
	Other		(130	)		(3,496	)		(10,879	)		77,662			(17,408	)		51,440
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			4,031,333			1,437,322			(7,370,906	)		(22,017,471	)		17,865,963			4,717,683
NET INCREASE (DECREASE) IN NET ASSETS			9,253,498			12,085,105			(20,251,928	)		(7,663,809	)		1,542,392			39,558,001
NET ASSETS
	Beginning of Year		62,092,547			50,007,442			211,779,913			219,443,722			249,879,827			210,321,826
	End of Year		$71,346,045			$62,092,547			$191,527,985			$211,779,913			$251,422,219			$249,879,827
		International Small-Cap						International Value						Currency Strategies
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($596,468	)		($503,305	)		($2,108,693	)		($2,151,944	)		($38,298	)		($23,534	)
	Realized gain (loss) on investments		38,782			222,503			2,440,342			2,543,612			(30,563	)		(54,666	)
	Change in net unrealized appreciation (depreciation) on investments		(1,024,502	)		8,267,173			(17,947,699	)		26,282,775			138,527			(1,189	)
Net Increase (Decrease) in Net Assets Resulting from Operations			(1,582,188	)		7,986,371			(17,616,050	)		26,674,443			69,666			(79,389	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		3,897,501			2,205,868			6,412,976			6,759,638			474,280			976,559
	Transfers between variable and fixed accounts, net		(319,274	)		3,734,963			5,650,735			(1,617,316	)		988,759			1,339,246
	Contract charges and deductions		(1,214,945	)		(509,046	)		(4,010,875	)		(3,721,658	)		(24,872	)		(4,904	)
	Surrenders		(3,588,233	)		(3,428,950	)		(13,280,460	)		(13,392,322	)		(132,965	)		(106,068	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(719	)		28			2,484			8,647			-			-
	Other		(5,680	)		3,175			(39,247	)		49,641			(299	)		(68	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			(1,231,350	)		2,006,038			(5,264,387	)		(11,913,370	)		1,304,903			2,204,765
NET INCREASE (DECREASE) IN NET ASSETS			(2,813,538	)		9,992,409			(22,880,437	)		14,761,073			1,374,569			2,125,376
NET ASSETS
	Beginning of Year		40,940,494			30,948,085			155,154,489			140,393,416			2,343,934			218,558
	End of Year		$38,126,956			$40,940,494			$132,274,052			$155,154,489			$3,718,503			$2,343,934

See Notes to Financial Statements

H-20

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Global Absolute Return						Precious Metals						American Funds Asset Allocation
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($100,817	)		($54,629	)		($161,374	)		($63,214	)		($24,381,270	)		($13,810,298	)
	Realized loss on investments		(6,298	)		(103,838	)		(1,476,432	)		(1,983,008	)		(1,471,032	)		(343,799	)
	Change in net unrealized appreciation (depreciation) on investments		473,447			(28,480	)		(667,772	)		(712,434	)		89,449,357			197,746,380
Net Increase (Decrease) in Net Assets Resulting from Operations			366,332			(186,947	)		(2,305,578	)		(2,758,656	)		63,597,055			183,592,283
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		2,304,082			1,797,732			2,645,247			2,625,990			303,531,389			296,897,336
	Transfers between variable and fixed accounts, net		734,646			3,873,650			3,594,975			4,401,076			240,385,184			502,987,027
	Contract charges and deductions		(126,514	)		(52,646	)		(23,952	)		(4,126	)		(24,265,869	)		(12,101,738	)
	Surrenders		(704,099	)		(450,057	)		(710,490	)		(217,273	)		(112,768,865	)		(60,779,057	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		1,497			-			-			6			1,545			-
	Other		(141	)		(18	)		(352	)		493			(29,403	)		(85,286	)
Net Increase in Net Assets Derived from Contract Owner Transactions			2,209,471			5,168,661			5,505,428			6,806,166			406,853,981			726,918,282
NET INCREASE IN NET ASSETS			2,575,803			4,981,714			3,199,850			4,047,510			470,451,036			910,510,565
NET ASSETS
	Beginning of Year		5,895,675			913,961			6,343,543			2,296,033			1,451,312,719			540,802,154
	End of Year		$8,471,478			$5,895,675			$9,543,393			$6,343,543			$1,921,763,755			$1,451,312,719
		Pacific Dynamix - Conservative Growth						Pacific Dynamix - Moderate Growth						Pacific Dynamix - Growth
INCREASE (DECREASE) IN NET ASSETS
	FROM OPERATIONS
	Net investment loss		($4,700,782	)		($3,702,211	)		($16,540,012	)		($10,816,427	)		($5,977,220	)		($4,237,514	)
	Realized loss on investments		(109,441	)		(109,467	)		(830,698	)		(337,645	)		(510,761	)		(190,363	)
	Change in net unrealized appreciation on investments		18,414,658			24,381,790			67,501,929			114,444,334			23,629,271			58,237,591
Net Increase in Net Assets Resulting from Operations			13,604,435			20,570,112			50,131,219			103,290,262			17,141,290			53,809,714
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		54,522,447			55,831,669			273,401,951			269,083,526			59,051,708			41,322,226
	Transfers between variable and fixed accounts, net		42,181,306			26,787,028			143,814,432			143,011,061			55,929,360			68,831,224
	Contract charges and deductions		(6,574,098	)		(4,875,474	)		(20,814,703	)		(10,945,213	)		(4,972,636	)		(3,597,705	)
	Surrenders		(20,305,164	)		(17,077,433	)		(54,301,837	)		(34,286,762	)		(31,522,963	)		(16,898,735	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
	Other		(6,638	)		(10,390	)		(6,965	)		(53,215	)		(30,815	)		9,206
Net Increase in Net Assets Derived from Contract Owner Transactions			69,817,853			60,655,400			342,092,878			366,809,397			78,454,654			89,666,216
NET INCREASE IN NET ASSETS			83,422,288			81,225,512			392,224,097			470,099,659			95,595,944			143,475,930
NET ASSETS
	Beginning of Year		305,886,551			224,661,039			1,062,562,189			592,462,530			384,937,974			241,462,044
	End of Year		$389,308,839			$305,886,551			$1,454,786,286			$1,062,562,189			$480,533,918			$384,937,974

See Notes to Financial Statements

H-21

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Portfolio Optimization Conservative						Portfolio Optimization Moderate-Conservative						Portfolio Optimization Moderate
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($36,496,152	)		($46,965,778	)		($54,321,294	)		($59,234,153	)		($212,237,751	)		($215,938,528	)
	Realized gain on investments		55,897,780			55,283,436			80,759,680			48,835,807			338,139,477			115,511,859
	Change in net unrealized appreciation on investments		29,608,955			38,269,026			67,111,151			264,487,329			316,653,094			1,621,069,097
Net Increase in Net Assets Resulting from Operations			49,010,583			46,586,684			93,549,537			254,088,983			442,554,820			1,520,642,428
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		53,168,778			96,053,347			109,482,988			145,338,288			364,762,384			465,657,474
	Transfers between variable and fixed accounts, net		(69,533,827	)		(558,906,891	)		(89,565,321	)		(163,477,489	)		(75,896,981	)		326,604,819
	Contract charges and deductions		(66,124,444	)		(76,967,517	)		(92,658,529	)		(84,230,087	)		(279,022,010	)		(265,364,386	)
	Surrenders		(363,337,667	)		(396,731,560	)		(377,805,994	)		(382,899,127	)		(1,500,590,271	)		(1,342,259,754	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		(13,420	)		6,676			(88,318	)		6,067			(10,949	)		6,618
	Other		(21,983	)		(3,319	)		(63,277	)		(55,952	)		(269,875	)		(483,630	)
Net Decrease in Net Assets Derived from Contract Owner Transactions			(445,862,563	)		(936,549,264	)		(450,698,451	)		(485,318,300	)		(1,491,027,702	)		(815,838,859	)
NET INCREASE (DECREASE) IN NET ASSETS			(396,851,980	)		(889,962,580	)		(357,148,914	)		(231,229,317	)		(1,048,472,882	)		704,803,569
NET ASSETS
	Beginning of Year		2,661,142,037			3,551,104,617			3,874,129,402			4,105,358,719			14,788,807,261			14,084,003,692
	End of Year		$2,264,290,057			$2,661,142,037			$3,516,980,488			$3,874,129,402			$13,740,334,379			$14,788,807,261
		Portfolio Optimization Growth						Portfolio Optimization Aggressive-Growth						Invesco V.I. Balanced-Risk Allocation Series II
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment loss		($180,479,606	)		($182,273,166	)		($37,279,576	)		($37,384,870	)		($5,996,499	)		($62,854	)
	Realized gain on investments		374,326,934			167,297,706			87,288,105			38,361,290			22,487,595			9,896,880
	Change in net unrealized appreciation (depreciation) on investments		219,889,554			1,772,715,612			39,166,017			426,519,961			84,578			(11,628,906	)
Net Increase (Decrease) in Net Assets Resulting from Operations			413,736,882			1,757,740,152			89,174,546			427,496,381			16,575,674			(1,794,880	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		138,506,696			159,112,850			36,865,239			39,355,572			28,645,070			68,605,976
	Transfers between variable and fixed accounts, net		(43,857,569	)		62,755,011			(22,619,871	)		(10,092,498	)		(7,766,589	)		(48,912,271	)
	Contract charges and deductions		(181,002,436	)		(179,521,442	)		(37,599,755	)		(27,468,856	)		(6,704,509	)		(7,677,615	)
	Surrenders		(1,363,899,274	)		(1,123,204,214	)		(291,201,580	)		(230,556,297	)		(33,393,997	)		(32,099,385	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		23,705			(15,992	)		-			-			(119	)		12
	Other		(9,113	)		(274,328	)		(12,191	)		(115,308	)		(1,507	)		(6,817	)
Net Decrease in Net Assets Derived from Contract Owner Transactions			(1,450,237,991	)		(1,081,148,115	)		(314,568,158	)		(228,877,387	)		(19,221,651	)		(20,090,100	)
NET INCREASE (DECREASE) IN NET ASSETS			(1,036,501,109	)		676,592,037			(225,393,612	)		198,618,994			(2,645,977	)		(21,884,980	)
NET ASSETS
	Beginning of Year		12,402,071,707			11,725,479,670			2,554,103,277			2,355,484,283			416,315,944			438,200,924
	End of Year		$11,365,570,598			$12,402,071,707			$2,328,709,665			$2,554,103,277			$413,669,967			$416,315,944

See Notes to Financial Statements

H-22

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
			Period Ended December 31, 2014			Year Ended December 31, 2014			Period Ended December 31, 2013			Period Ended December 31, 2014
			Invesco V.I. Equity and Income Series II (1)			American Century VP Mid Cap Value Class II (2)						American Funds IS Asset Allocation Fund Class 4 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)			$13,165			($56,445	)		($6,343	)		$130,411
	Realized gain (loss) on investments			(52,420	)		463,278			(22,231	)		26,999
	Change in net unrealized appreciation (depreciation) on investments			75,136			1,719,640			738,894			(13,423	)
Net Increase in Net Assets Resulting from Operations				35,881			2,126,473			710,320			143,987
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners			3,115,521			5,672,691			3,481,927			10,492,995
	Transfers between variable and fixed accounts, net			3,163,246			17,370,342			4,367,254			2,199,164
	Contract charges and deductions			(5,900	)		(199,576	)		(25,411	)		(17,994	)
	Surrenders			(44,926	)		(886,373	)		(507,193	)		(24,936	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period			-			-			-			-
	Other			(429	)		(750	)		(460	)		(291	)
Net Increase in Net Assets Derived from Contract Owner Transactions				6,227,512			21,956,334			7,316,117			12,648,938
NET INCREASE IN NET ASSETS				6,263,393			24,082,807			8,026,437			12,792,925
NET ASSETS
	Beginning of Year or Period			-			8,026,437			-			-
	End of Year or Period			$6,263,393			$32,109,244			$8,026,437			$12,792,925
			American Funds IS Capital Income Builder Class 4 (1)			American Funds IS Global Growth Fund Class 4 (3)						American Funds IS Growth Fund Class 4 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income			$86,434			$60,184			$4,045			$22,885
	Realized gain (loss) on investments			(3,103	)		511,711			(321	)		34,343
	Change in net unrealized appreciation (depreciation) on investments			(350,298	)		(422,666	)		16,361			76,234
Net Increase (Decrease) in Net Assets Resulting from Operations				(266,967	)		149,229			20,085			133,462
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners			12,599,632			12,320,192			228,685			3,371,242
	Transfers between variable and fixed accounts, net			5,015,947			2,424,862			474,754			464,006
	Contract charges and deductions			(4,581	)		(374,464	)		-			(3,102	)
	Surrenders			(424,676	)		(112,248	)		(2,755	)		(4,436	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period			-			-			-			-
	Other			(215	)		685			(36	)		(103	)
Net Increase in Net Assets Derived from Contract Owner Transactions				17,186,107			14,259,027			700,648			3,827,607
NET INCREASE IN NET ASSETS				16,919,140			14,408,256			720,733			3,961,069
NET ASSETS
	Beginning of Year or Period			-			720,733			-			-
	End of Year or Period			$16,919,140			$15,128,989			$720,733			$3,961,069

(1) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(2) Operations commenced on January 3, 2013.

(3) Operations commenced on November 6, 2013.

See Notes to Financial Statements

H-23

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year/Period Ended			Period Ended			Year/Period Ended			Period Ended			Year Ended			Period Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		American Funds IS Growth-Income Fund Class 4 (1)						American Funds IS International Fund Class 4 (1)						American Funds IS International Growth and Income Fund Class 4 (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income		$68,058						$90,664						$392,447			$5,530
	Realized gain (loss) on investments		27,453						(29,149	)					13,737			1,539
	Change in net unrealized appreciation (depreciation) on investments		68,208						(457,083	)					(1,318,720	)		4,862
Net Increase (Decrease) in Net Assets Resulting from Operations			163,719						(395,568	)					(912,536	)		11,931
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		7,021,142						7,378,554						11,468,185			399,535
	Transfers between variable and fixed accounts, net		930,542						2,319,166						6,893,823			138,199
	Contract charges and deductions		(4,495	)					(431,120	)					(15,493	)		-
	Surrenders		(9,172	)					(78,565	)					(227,130	)		(185	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-						-						-			-
	Other		(199	)					619						(2,410	)		32
Net Increase in Net Assets Derived from Contract Owner Transactions			7,937,818						9,188,654						18,116,975			537,581
NET INCREASE IN NET ASSETS			8,101,537						8,793,086						17,204,439			549,512
NET ASSETS
	Beginning of Year or Period		-						-						549,512			-
	End of Year or Period		$8,101,537						$8,793,086						$17,753,951			$549,512
		American Funds IS Managed Risk Asset Allocation Fund Class P2  (3)						American Funds IS New World Fund Class 4 (2)						American Funds IS U.S. Government/ AAA-Rated Securities Fund Class 4 (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)			($238,192	)		$25,564			$51,439			$5,271			$196,330			$2,007
	Realized gain (loss) on investments		(113,277	)		(32	)		342,508			(135	)		(172,531	)		(404	)
	Change in net unrealized appreciation (depreciation) on investments		774,323			41,054			(1,523,653	)		6,602			(44,283	)		(3,780	)
Net Increase (Decrease) in Net Assets Resulting from Operations			422,854			66,586			(1,129,706	)		11,738			(20,484	)		(2,177	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		18,078,473			746,060			9,778,840			453,338			5,088,896			48,886
	Transfers between variable and fixed accounts, net		8,887,385			2,977,575			2,414,421			131,488			17,021,736			323,067
	Contract charges and deductions		(355,851	)		(947	)		(158,125	)		-			(11,004	)		-
	Surrenders		(728,133	)		(4,534	)		(110,803	)		(199	)		(2,199,885	)		-
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
	Other		(3,575	)		(190	)		(268	)		(26	)		1,731			(18	)
Net Increase in Net Assets Derived from Contract Owner Transactions			25,878,299			3,717,964			11,924,065			584,601			19,901,474			371,935
NET INCREASE IN NET ASSETS			26,301,153			3,784,550			10,794,359			596,339			19,880,990			369,758
NET ASSETS
	Beginning of Year or Period		3,784,550			-			596,339			-			369,758			-
	End of Year or Period		$30,085,703			$3,784,550			$11,390,698			$596,339			$20,250,748			$369,758

(1) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(2) Operations commenced on November 6, 2013.

(3) Operations commenced on November 4, 2013.

See Notes to Financial Statements

H-24

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year/Period Ended December 31, 2014			Year Ended December 31, 2013			Year/Period Ended December 31, 2014			Year Ended December 31, 2013			Period Ended December 31, 2014
		BlackRock Capital Appreciation V.I. Class III						BlackRock Global Allocation V.I. Class III						BlackRock iShares Alternative Strategies V.I. Class I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)		($308,688	)		($271,333	)		$19,283,479			($6,604,921	)		$38,015
	Realized gain (loss) on investments		6,079,334			5,493,171			199,569,791			89,202,461			(397	)
	Change in net unrealized appreciation (depreciation) on investments		(2,949,278	)		4,168,776			(207,989,335	)		164,840,146			(46,907	)
Net Increase (Decrease) in Net Assets Resulting from Operations			2,821,368			9,390,614			10,863,935			247,437,686			(9,289	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		600,931			4,075,403			194,119,781			232,559,150			2,166,647
	Transfers between variable and fixed accounts, net		(1,820,963	)		4,702,488			50,064,327			88,648,781			2,364,709
	Contract charges and deductions		(835,705	)		(589,936	)		(40,657,213	)		(34,450,906	)		(402	)
	Surrenders		(1,329,301	)		(897,049	)		(159,636,131	)		(117,766,699	)		(198,657	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(4,196	)		12			-
	Other		2,164			(1,970	)		(194	)		(58,219	)		(639	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions			(3,382,874	)		7,288,936			43,886,374			168,932,119			4,331,658
NET INCREASE (DECREASE) IN NET ASSETS			(561,506)			16,679,550			54,750,309			416,369,805			4,322,369
NET ASSETS
	Beginning of Year or Period		38,662,241			21,982,691			2,264,930,424			1,848,560,619			-
	End of Year or Period		$38,100,735			$38,662,241			$2,319,680,733			$2,264,930,424			$4,322,369
		BlackRock iShares Dynamic Allocation V.I. Class I (1)						BlackRock iShares Dynamic Fixed Income V.I. Class I (1)						BlackRock iShares Equity Appreciation V.I. Class I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income		$29,992						$8,267						$21,814
	Realized loss on investments		(1,034	)					(984	)					(3,024	)
	Change in net unrealized depreciation on investments		(57,605	)					(6,185	)					(76,036	)
Net Increase (Decrease) in Net Assets Resulting from Operations			(28,647	)					1,098						(57,246	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		3,806,837						2,196,115						1,965,582
	Transfers between variable and fixed accounts, net		1,339,671						934,642						1,351,626
	Contract charges and deductions		(6,481	)					(5,534	)					(6,434	)
	Surrenders		(21,539	)					(50,251	)					(22,067	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-						-						-
	Other		(384	)					(289	)					(133	)
Net Increase in Net Assets Derived from Contract Owner Transactions			5,118,104						3,074,683						3,288,574
NET INCREASE IN NET ASSETS			5,089,457						3,075,781						3,231,328
NET ASSETS
	Beginning of Period		-						-						-
	End of Period		$5,089,457						$3,075,781						$3,231,328

(1) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

See Notes to Financial Statements

H-25

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended December 31, 2014			Period Ended December 31, 2013			Year Ended December 31, 2014			Year Ended December 31, 2013			Period Ended December 31, 2014
		Fidelity VIP Contrafund Service Class 2 (1)						Fidelity VIP FundsManager 60% Service Class 2						Fidelity VIP Money Market Service Class (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)		($140,589	)		$50,497			($23,877	)		$138,547			($2,576,595	)
	Realized gain (loss) on investments		1,206,132			(30,398	)		2,413,102			2,253,802			-
	Change in net unrealized appreciation (depreciation) on investments		4,000,967			2,971,302			1,651,332			4,621,931			-
Net Increase (Decrease) in Net Assets Resulting from Operations			5,066,510			2,991,401			4,040,557			7,014,280			(2,576,595	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		24,725,407			11,981,226			28,439,097			24,690,018			44,094,921
	Transfers between variable and fixed accounts, net		16,281,411			14,167,792			28,173,037			27,394,171			350,520,997
	Contract charges and deductions		(493,740	)		(17,573	)		(1,472,397	)		(519,607	)		(24,271,308	)
	Surrenders		(1,946,350	)		(529,095	)		(5,940,190	)		(1,620,863	)		(124,748,887	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		32			20			-			-			(16,095	)
	Other		(6,682	)		(938	)		5,246			(9,626	)		(59,725	)
Net Increase in Net Assets Derived from Contract Owner Transactions			38,560,078			25,601,432			49,204,793			49,934,093			245,519,903
NET INCREASE IN NET ASSETS			43,626,588			28,592,833			53,245,350			56,948,373			242,943,308
NET ASSETS
	Beginning of Year or Period		28,592,833			-			76,394,645			19,446,272			-
	End of Year or Period		$72,219,421			$28,592,833			$129,639,995			$76,394,645			$242,943,308
		Fidelity VIP Strategic Income Service Class 2 (3)						First Trust/Dow Jones Dividend & Income Allocation Class I						First Trust Multi Income Allocation Class I (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)		$382,245			$24,586			($671,787	)		($248,431	)		$15,106
	Realized gain (loss) on investments		149,019			5,175			(76,133	)		1,280,418			(3,214	)
	Change in net unrealized appreciation (depreciation) on investments		(680,321	)		(29,126	)		11,371,118			6,174,369			54,233
Net Increase (Decrease) in Net Assets Resulting from Operations			(149,057	)		635			10,623,198			7,206,356			66,125
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		11,535,049			481,322			25,327,294			26,322,362			1,560,434
	Transfers between variable and fixed accounts, net		6,639,136			513,415			49,918,376			39,820,370			3,176,244
	Contract charges and deductions		(415,673	)		-			(1,971,343	)		(1,433,146	)		(568	)
	Surrenders		(1,261,976	)		(2,452	)		(6,710,806	)		(3,859,962	)		(47,419	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-
	Other		(1,051	)		2			(1,112	)		(2,747	)		(1,157	)
Net Increase in Net Assets Derived from Contract Owner Transactions			16,495,485			992,287			66,562,409			60,846,877			4,687,534
NET INCREASE IN NET ASSETS			16,346,428			992,922			77,185,607			68,053,233			4,753,659
NET ASSETS
	Beginning of Year or Period		992,922			-			98,458,115			30,404,882			-
	End of Year or Period		$17,339,350			$992,922			$175,643,722			$98,458,115			$4,753,659

(1) Operations commenced on January 2, 2013.

(2) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(3) Operations commenced on November 5, 2013.

See Notes to Financial Statements

H-26

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended			Year/Period Ended			Year Ended			Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2014			2013			2014			2013			2014			2013
		Franklin Founding Funds Allocation VIP Class 2						Franklin Founding Funds Allocation VIP Class 4						Franklin Mutual Global Discovery VIP Class 2
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income		$144,784			$525,263			$6,144,342			$30,366,942			$1,751,924			$974,517
	Realized gain (loss) on investments		(60,339	)		650,946			(1,851,188	)		53,642,976			8,580,389			6,193,155
	Change in net unrealized appreciation (depreciation) on investments		(9,787	)		(176,324	)		11,131			(15,565,169	)		(5,002,787	)		5,925,233
Net Increase in Net Assets Resulting from Operations			74,658			999,885			4,304,285			68,444,749			5,329,526			13,092,905
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		2,491,551			1,650,867			28,777,403			17,177,658			39,151,025			31,857,947
	Transfers between variable and fixed accounts, net		1,596,176			598,230			54,262,139			93,434,661			25,205,129			31,029,633
	Contract charges and deductions		(94,929	)		(26,060	)		(7,776,219	)		(5,775,099	)		(2,254,100	)		(769,803	)
	Surrenders		(327,518	)		(353,686	)		(45,252,611	)		(25,818,620	)		(5,072,028	)		(1,997,184	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
	Other		773			(83	)		11,934			(18,279	)		(542	)		(3,249	)
Net Increase in Net Assets Derived from Contract Owner Transactions			3,666,053			1,869,268			30,022,646			79,000,321			57,029,484			60,117,344
NET INCREASE IN NET ASSETS			3,740,711			2,869,153			34,326,931			147,445,070			62,359,010			73,210,249
NET ASSETS
	Beginning of Year		6,458,424			3,589,271			429,268,623			281,823,553			99,313,055			26,102,806
	End of Year		$10,199,135			$6,458,424			$463,595,554			$429,268,623			$161,672,065			$99,313,055
		Franklin Rising Dividends VIP Class 2 (1)						Templeton Global Bond VIP Class 2						GE Investments Total Return Class 3
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)		($1,784	)		($37,086	)		$1,783,998			$596,180			$1,069,346			$360,895
	Realized gain (loss) on investments		791,653			(74,636	)		(718,754	)		(273,800	)		14,190,515			22,679,683
	Change in net unrealized appreciation (depreciation) on investments		4,133,044			3,400,294			(1,195,768	)		(389,943	)		2,880,594			29,126,101
Net Increase (Decrease) in Net Assets Resulting from Operations			4,922,913			3,288,572			(130,524	)		(67,563	)		18,140,455			52,166,679
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		27,475,140			17,365,175			23,992,742			12,683,891			37,185,194			64,617,276
	Transfers between variable and fixed accounts, net		13,766,201			19,240,238			13,542,743			17,936,564			10,576,734			49,052,563
	Contract charges and deductions		(986,650	)		(58,069	)		(959,595	)		(176,041	)		(10,833,797	)		(6,338,736	)
	Surrenders		(2,657,817	)		(712,597	)		(3,732,042	)		(743,546	)		(27,283,953	)		(20,340,342	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(179	)		74			-			-
	Other		(3,382	)		(2,405	)		(1,512	)		(2,476	)		(2,603	)		(4,979	)
Net Increase in Net Assets Derived from Contract Owner Transactions			37,593,492			35,832,342			32,842,157			29,698,466			9,641,575			86,985,782
NET INCREASE IN NET ASSETS			42,516,405			39,120,914			32,711,633			29,630,903			27,782,030			139,152,461
NET ASSETS
	Beginning of Year or Period		39,120,914			-			32,168,476			2,537,573			486,525,393			347,372,932
	End of Year or Period		$81,637,319			$39,120,914			$64,880,109			$32,168,476			$514,307,423			$486,525,393

(1) Operations commenced on January 3, 2013.

See Notes to Financial Statements

H-27

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year/Period Ended December 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2014			Year/Period Ended December 31, 2013			Year/Period Ended December 31, 2014			Year Ended December 31, 2013
		Ivy Funds VIP Asset Strategy (1)						Janus Aspen Series Balanced Service Shares (2)						Janus Aspen Series Flexible Bond Service Shares (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)		($44,101)						$971,444			$250,291			$72,853
	Realized gain (loss) on investments		(6,236)						8,383,157			804,558			(4,283	)
	Change in net unrealized appreciation (depreciation) on investments		(271,234)						16,179,307			8,014,651			(72,142	)
Net Increase (Decrease) in Net Assets Resulting from Operations			(321,571)						25,533,908			9,069,500			(3,572	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		7,472,728						172,016,463			39,364,408			3,615,424
	Transfers between variable and fixed accounts, net		3,072,599						132,088,918			211,487,512			5,775,725
	Contract charges and deductions		(348)						(4,888,536	)		(1,255,067	)		(524	)
	Surrenders		(51,376)						(22,574,254	)		(5,147,956	)		(854,695	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-						(234	)		16			-
	Other		(1,530)						(21,471	)		(37,958	)		(207	)
Net Increase in Net Assets Derived from Contract Owner Transactions			10,492,073						276,620,886			244,410,955			8,535,723
NET INCREASE IN NET ASSETS			10,170,502						302,154,794			253,480,455			8,532,151
NET ASSETS
	Beginning of Year or Period		-						253,480,455			-			-
	End of Year or Period		$10,170,502						$555,635,249			$253,480,455			$8,532,151
		JPMorgan Insurance Trust Core Bond Class 1						JPMorgan Insurance Trust Mid Cap Value Class 1						JPMorgan Insurance Trust U.S. Equity Class 1
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)		$11,917			$15,582			($895	)		($637	)		($272	)		($65	)
	Realized gain (loss) on investments		(78)			1,320			11,434			5,139			3,678			2,371
	Change in net unrealized appreciation (depreciation) on investments		4,831			(32,126	)		642			16,608			3,007			12,940
Net Increase (Decrease) in Net Assets Resulting from Operations			16,670			(15,224	)		11,181			21,110			6,413			15,246
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		-			-			-			-			-			-
	Transfers between variable and fixed accounts, net		87			732			(2,163	)		(2,933	)		1,355			(1,026	)
	Contract charges and deductions		(45,410)			(228	)		(11,126	)		(8,822	)		(5,676	)		(2,559	)
	Surrenders		(5,550)			(19,511	)		(17,122	)		(656	)		(1,145	)		(865	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
	Other		1,431			(477	)		1,683			6,694			(8	)		36
Net Decrease in Net Assets Derived from Contract Owner Transactions			(49,442	)		(19,484	)		(28,728	)		(5,717	)		(5,474	)		(4,414	)
NET INCREASE (DECREASE) IN NET ASSETS			(32,772	)		(34,708	)		(17,547	)		15,393			939			10,832
NET ASSETS
	Beginning of Year		532,180			566,888			110,832			95,439			56,954			46,122
	End of Year		$499,408			$532,180			$93,285			$110,832			$57,893			$56,954

(1) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(2) Operations commenced on January 8, 2013.

See Notes to Financial Statements

H-28

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Accounts
		Year Ended December 31, 2014		Year/Period Ended December 31, 2013			Year Ended December 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2014			Year/Period Ended December 31, 2013
		Lord Abbett Bond Debenture Class VC (1)					Lord Abbett International Core Equity Class VC						Lord Abbett Total Return Class VC
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income		$1,449,285		$785,620			$206,852			$228,241			$3,001,040			$1,938,710
	Realized gain on investments		780,285		225,987			1,520,770			370,923			357,853			31,892
	Change in net unrealized appreciation (depreciation) on investments		(1,710,211)		(572,641	)		(6,639,105	)		3,408,994			5,696,968			(3,574,469	)
Net Increase (Decrease) in Net Assets Resulting from Operations			519,359		438,966			(4,911,483	)		4,008,158			9,055,861			(1,603,867	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		13,314,640		6,401,066			15,199,546			11,917,374			60,056,260			50,509,674
	Transfers between variable and fixed accounts, net		8,722,649		12,948,134			12,028,761			6,647,672			40,747,653			50,788,014
	Contract charges and deductions		(448,589)		(11,920	)		(674,084	)		(267,524	)		(3,163,377	)		(1,552,007	)
	Surrenders		(2,266,216)		(752,127	)		(1,091,708	)		(476,261	)		(6,351,792	)		(2,551,435	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-		-			-			-			-			-
	Other		626		(714	)		1,531			(1,245	)		(4,209	)		(1,027	)
Net Increase in Net Assets Derived from Contract Owner Transactions			19,323,110		18,584,439			25,464,046			17,820,016			91,284,535			97,193,219
NET INCREASE IN NET ASSETS			19,842,469		19,023,405			20,552,563			21,828,174			100,340,396			95,589,352
NET ASSETS
	Beginning of Year or Period		19,023,405		-			31,715,991			9,887,817			145,137,285			49,547,933
	End of Year or Period		$38,865,874		$19,023,405			$52,268,554			$31,715,991			$245,477,681			$145,137,285
		MFS Investors Growth Stock Series - Service Class					MFS Total Return Series - Service Class						MFS Utilities Series - Service Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
	Net investment income (loss)		($211,764)		($28,424	)		$771,582			$646,478			$164,726			$37,787
	Realized gain (loss) on investments		2,902,475		463,151			4,780,794			(387,671	)		688,369			(71,387	)
	Change in net unrealized appreciation on investments		2,469,855		2,630,496			7,449,633			14,811,915			863,317			467,969
Net Increase in Net Assets Resulting from Operations			5,160,566		3,065,223			13,002,009			15,070,722			1,716,412			434,369
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		20,538,213		16,730,998			40,037,830			36,005,971			10,258,310			4,409,306
	Transfers between variable and fixed accounts, net		10,084,832		8,808,492			53,654,980			60,360,562			21,023,272			5,078,550
	Contract charges and deductions		(622,200)		(130,156	)		(4,103,762	)		(1,749,255	)		(277,500	)		(2,676	)
	Surrenders		(1,025,170)		(210,698	)		(12,106,016	)		(5,552,263	)		(2,009,630	)		(148,365	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-		-			-			-			-			-
	Other		300		(738	)		(1,783	)		(12,653	)		(1,439	)		(1,088	)
Net Increase in Net Assets Derived from Contract Owner Transactions			28,975,975		25,197,898			77,481,249			89,052,362			28,993,013			9,335,727
NET INCREASE IN NET ASSETS			34,136,541		28,263,121			90,483,258			104,123,084			30,709,425			9,770,096
NET ASSETS
	Beginning of Year or Period		28,699,336		436,215			154,905,751			50,782,667			9,770,096			-
	End of Year or Period		$62,835,877		$28,699,336			$245,389,009			$154,905,751			$40,479,521			$9,770,096

(1) Operations commenced on January 2, 2013.

See Notes to Financial Statements

H-29

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year/Period Ended			Year Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2014			2013			2014			2013			2014			2013
	MFS Value						PIMCO All Asset						PIMCO CommodityRealReturn
	Series - Service Class						All Authority - Advisor Class (1)						Strategy - Advisor Class (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		$315,406			$64,744			$87,701						($74,993	)		($11,194	)
Realized gain (loss) on investments		1,799,163			89,969			(11,302	)					(318,943	)		(146,096	)
Change in net unrealized appreciation (depreciation) on investments		3,215,209			8,839,562			(266,138	)					(1,206,898	)		(278,598	)
Net Increase (Decrease) in Net Assets Resulting from Operations		5,329,778			8,994,275			(189,739	)					(1,600,834	)		(435,888	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		14,511,257			12,358,577			1,420,335						1,997,099			1,816,490
Transfers between variable and fixed accounts, net		4,958,108			5,934,497			1,444,641						1,178,913			4,134,177
Contract charges and deductions		(945,346	)		(476,253	)		(539	)					(22,368	)		(15,362	)
Surrenders		(1,624,705	)		(848,072	)		(128,074	)					(765,464	)		(338,455	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-						-			-
Other		1,234			(1,120	)		(70	)					(511	)		(4,039	)
Net Increase in Net Assets Derived from Contract Owner Transactions		16,900,548			16,967,629			2,736,293						2,387,669			5,592,811
NET INCREASE IN NET ASSETS		22,230,326			25,961,904			2,546,554						786,835			5,156,923
NET ASSETS
Beginning of Year or Period		45,232,638			19,270,734			-						5,156,923			-
End of Year or Period		$67,462,964			$45,232,638			$2,546,554						$5,943,758			$5,156,923
	PIMCO Global Multi-Asset
	Managed Allocation - Advisor Class						Jennison Class II						SP International Growth Class II
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		$1,523,115			$4,574,096			($6,363	)		($5,332	)		($4,725	)		($4,476	)
Realized gain (loss) on investments		(10,690,406	)		(5,880,851	)		20,308			5,015			2,068			1,741
Change in net unrealized appreciation (depreciation) on investments		15,476,768			(25,528,044	)		14,856			96,802			(19,905	)		44,523
Net Increase (Decrease) in Net Assets Resulting from Operations		6,309,477			(26,834,799	)		28,801			96,485			(22,562	)		41,788
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		10,250,530			28,063,337			-			-			-			-
Transfers between variable and fixed accounts, net		(84,110,009	)		(7,658,641	)		-			-			-			-
Contract charges and deductions		(4,040,356	)		(4,893,570	)		(398	)		(336	)		(176	)		(178	)
Surrenders		(13,566,496	)		(15,817,911	)		(22,597	)		(2,555	)		(740	)		(689	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(535	)		907			(3	)		(11	)		-			69
Net Decrease in Net Assets Derived from Contract Owner Transactions		(91,466,866	)		(305,878	)		(22,998	)		(2,902	)		(916	)		(798	)
NET INCREASE (DECREASE) IN NET ASSETS		(85,157,389	)		(27,140,677	)		5,803			93,583			(23,478	)		40,990
NET ASSETS
Beginning of Year		248,642,587			275,783,264			371,764			278,181			293,852			252,862
End of Year		$163,485,198			$248,642,587			$377,567			$371,764			$270,374			$293,852

(1) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(2) Operations commenced on January 4, 2013.

See Notes to Financial Statements

H-30

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended December 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2014			Year Ended December 31, 2013			Year/Period Ended December 31, 2014			Year Ended December 31, 2013
	SP Prudential U.S. Emerging Growth Class II						Value Class II						Schwab VIT Balanced
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment loss		($6,125	)		($5,425	)		($3,803	)		($3,432	)		($5,192	)		($60,424	)
Realized gain (loss) on investments		1,907			949			12,810			6,613			(14,200	)		(9,663	)
Change in net unrealized appreciation on investments		29,950			76,687			9,194			53,133			1,047,003			868,584
Net Increase in Net Assets Resulting from Operations		25,732			72,211			18,201			56,314			1,027,611			798,497
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		-			-			-			-			15,255,274			22,322,031
Transfers between variable and fixed accounts, net		-			-			-			(13,160	)		604,358			1,038,034
Contract charges and deductions		(178	)		(167	)		(417	)		(377	)		(518,878	)		(58,125	)
Surrenders		(435	)		(871	)		(22,588	)		(1,255	)		(1,499,628	)		(155,263	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(3	)		(7	)		(8	)		(18	)		(123	)		(4,917	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(616	)		(1,045	)		(23,013	)		(14,810	)		13,841,003			23,141,760
NET INCREASE (DECREASE) IN NET ASSETS		25,116			71,166			(4,812	)		41,504			14,868,614			23,940,257
NET ASSETS
Beginning of Year		352,902			281,736			232,234			190,730			25,946,596			2,006,339
End of Year		$378,018			$352,902			$227,422			$232,234			$40,815,210			$25,946,596
	Schwab VIT Balanced with Growth						Schwab VIT Growth						Schwab VIT Money Market (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)		$132,767			($172,406	)		$187,876			($155,832	)		($774	)
Realized gain (loss) on investments		(32,391	)		(15,023	)		(65,429	)		(13,573	)		-
Change in net unrealized appreciation (depreciation) on investments		2,504,125			3,379,246			2,778,239			4,353,564			-
Net Increase (Decrease) in Net Assets Resulting from Operations		2,604,501			3,191,817			2,900,686			4,184,159			(774	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		29,710,274			64,047,667			32,053,789			67,328,634			1,455,390
Transfers between variable and fixed accounts, net		165,731			(951,579	)		784,543			1,448,309			(1,454,685	)
Contract charges and deductions		(779,087	)		(153,854	)		(874,381	)		(150,540	)		-
Surrenders		(4,731,017	)		(1,127,229	)		(4,619,690	)		(713,897	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-
Other		(465	)		(14,525	)		(1,686	)		(1,577	)		69
Net Increase in Net Assets Derived from Contract Owner Transactions		24,365,436			61,800,480			27,342,575			67,910,929			774
NET INCREASE (DECREASE) IN NET ASSETS		26,969,937			64,992,297			30,243,261			72,095,088			-
NET ASSETS
Beginning of Year or Period		66,374,416			1,382,119			72,417,931			322,843			-
End of Year or Period		$93,344,353			$66,374,416			$102,661,192			$72,417,931			$-

(1) Operations commenced during 2014 and all units were fully redeemed or transferred prior to December 31, 2014 (See Note 1 in Notes to Financial Statements).

See Notes to Financial Statements

H-31

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

		Variable Account
		Year Ended December 31, 2014			Period Ended December 31, 2013
		Van Eck VIP Global Hard Assets Class S (1)
INCREASE (DECREASE) IN NET ASSETS
	FROM OPERATIONS
	Net investment loss		($94,727	)		($25,625	)
	Realized loss on investments		(687,834	)		(54,401	)
	Change in net unrealized appreciation (depreciation) on investments		(1,593,613	)		297,894
Net Increase (Decrease) in Net Assets Resulting from Operations			(2,376,174	)		217,868
INCREASE (DECREASE) IN NET ASSETS
	FROM CONTRACT OWNER TRANSACTIONS
	Payments received from contract owners		3,382,006			1,206,287
	Transfers between variable and fixed accounts, net		3,580,706			3,102,412
	Contract charges and deductions		(29,833	)		(4,645	)
	Surrenders		(1,023,491	)		(205,258	)
	Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-
	Other		(776	)		(194	)
Net Increase in Net Assets Derived from Contract Owner Transactions			5,908,612			4,098,602
NET INCREASE IN NET ASSETS			3,532,438			4,316,470
NET ASSETS
	Beginning of Year or Period		4,316,470			-
	End of Year or Period		$7,848,908			$4,316,470

(1) Operations commenced on January 3, 2013.

See Notes to Financial Statements

H-32

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS

A summary of units outstanding, net assets, accumulation unit values (“AUV”), expense ratios, investment income ratios, and total returns for each year or period ended December 31 are presented in the table below.

	At the End of Each Year or Period
Variable Accounts For Each Year or Period					AUV (2)				Expense Ratios (3)									Total Returns (5)
	Units Outstanding (1)		Net Assets (1)		Lowest		Highest		Lowest			Highest			Investment Income Ratios (4)			Lowest			Highest
Diversified Bond
2014		7,867,385		$97,938,856		$10.14		$14.30		0.40	%		2.00	%		0.00	%		5.56	%		7.27	%
2013		5,953,785		71,664,212		9.59		13.34		0.40	%		2.00	%		0.00	%		(3.11	%)		(1.54	%)
2012		6,534,368		81,511,932		10.68		13.54		0.40	%		2.00	%		2.92	%		6.22	%		7.93	%
2011		6,847,934		80,311,071		10.03		12.55		0.40	%		2.00	%		4.08	%		3.85	%		5.52	%
2010		244,750,519		2,747,532,095		10.58		11.89		0.40	%		2.00	%		3.17	%		5.91	%		7.61	%
Floating Rate Income
2014		2,870,210		$28,792,880		$9.93		$10.20		0.40	%		2.00	%		0.00	%		(1.58	%)		0.01	%
05/02/2013 - 12/31/2013		1,578,956		15,991,878		10.09		10.20		0.40	%		2.00	%		0.00	%		1.89	%		1.89	%
Floating Rate Loan
2014		11,640,525		$113,905,372		$9.27		$11.90		0.40	%		2.00	%		0.00	%		(1.16	%)		0.44	%
2013		12,573,990		122,977,580		9.38		11.89		0.40	%		2.00	%		0.00	%		2.46	%		4.11	%
2012		7,277,772		68,728,448		9.15		11.46		0.40	%		2.00	%		5.08	%		5.95	%		7.67	%
2011		7,502,688		66,370,711		8.64		10.32		0.40	%		2.00	%		10.89	%		0.48	%		2.10	%
2010		110,821,639		971,109,983		8.60		10.50		0.40	%		2.00	%		4.76	%		5.15	%		6.85	%
High Yield Bond
2014		12,538,751		$218,117,779		$9.97		$22.49		0.40	%		2.00	%		0.00	%		(1.61	%)		(0.03	%)
2013		13,354,751		247,759,040		10.12		22.72		0.40	%		2.00	%		0.00	%		5.12	%		6.82	%
2012		13,864,713		255,048,623		11.05		21.48		0.40	%		2.00	%		6.62	%		13.01	%		14.84	%
2011		13,036,324		214,964,626		9.71		18.90		0.40	%		2.00	%		8.81	%		1.37	%		3.00	%
2010		62,500,624		997,803,379		11.12		18.53		0.40	%		2.00	%		7.74	%		12.26	%		14.07	%
Inflation Managed
2014		16,408,857		$288,136,780		$9.01		$22.91		0.40	%		2.00	%		0.00	%		1.07	%		2.70	%
2013		18,700,934		331,929,604		8.90		22.53		0.40	%		2.00	%		0.00	%		(10.72	%)		(9.28	%)
2012		22,935,187		466,676,425		10.81		25.08		0.40	%		2.00	%		2.33	%		7.69	%		9.43	%
2011		23,093,219		446,497,609		10.02		23.15		0.40	%		2.00	%		2.65	%		9.64	%		11.41	%
2010		239,677,117		4,108,322,933		10.59		20.99		0.40	%		2.00	%		2.01	%		6.62	%		8.34	%
Inflation Strategy
2014		1,846,716		$18,164,176		$8.93		$10.41		0.40	%		2.00	%		0.00	%		0.30	%		1.92	%
2013		1,732,071		17,061,445		8.90		10.22		0.40	%		2.00	%		0.00	%		(11.26	%)		(9.83	%)
2012		1,831,788		20,344,675		10.39		11.33		0.40	%		2.00	%		0.47	%		3.42	%		5.09	%
05/03/2011 - 12/31/2011		1,394,249		14,911,072		10.08		10.78		0.40	%		2.00	%		8.05	%		6.85	%		6.85	%
Managed Bond
2014		27,274,650		$507,099,017		$9.74		$24.84		0.40	%		2.00	%		0.00	%		2.36	%		4.02	%
2013		29,675,668		561,031,229		9.50		24.12		0.40	%		2.00	%		0.00	%		(4.14	%)		(2.60	%)
2012		33,365,816		678,430,434		10.85		25.01		0.40	%		2.00	%		5.09	%		8.52	%		10.28	%
2011		33,234,677		640,897,749		9.97		22.91		0.40	%		2.00	%		2.00	%		1.79	%		3.43	%
2010		283,102,115		5,159,548,706		10.64		22.37		0.40	%		2.00	%		3.69	%		6.80	%		8.53	%
Short Duration Bond
2014		27,852,528		$288,412,711		$9.77		$12.10		0.40	%		2.00	%		0.00	%		(1.32	%)		0.27	%
2013		21,720,887		227,410,380		9.88		12.07		0.40	%		2.00	%		0.00	%		(1.59	%)		0.00	%
2012		14,984,700		160,412,114		10.07		12.07		0.40	%		2.00	%		0.85	%		1.14	%		2.78	%
2011		12,870,070		136,559,740		9.93		11.75		0.40	%		2.00	%		1.46	%		(1.12	%)		0.47	%
2010		135,177,217		1,443,392,122		10.15		11.69		0.40	%		2.00	%		1.53	%		1.36	%		2.99	%
Emerging Markets Debt
2014		1,292,439		$12,220,073		$8.66		$9.85		0.40	%		2.00	%		0.00	%		(5.73	%)		(4.21	%)
2013		1,194,460		11,993,623		9.16		10.28		0.40	%		2.00	%		0.00	%		(8.29	%)		(6.81	%)
05/03/2012 - 12/31/2012		581,634		6,373,949		10.91		11.03		0.40	%		2.00	%		9.39	%		9.11	%		9.11	%
American Funds Growth
2014		13,284,597		$211,218,525		$12.53		$20.38		0.40	%		2.00	%		0.00	%		6.08	%		7.79	%
2013		11,519,641		179,720,589		11.79		18.90		0.40	%		2.00	%		0.00	%		27.07	%		29.11	%
2012		11,133,308		139,925,751		9.75		14.64		0.40	%		2.00	%		0.17	%		15.12	%		16.98	%
2011		12,321,026		135,059,227		8.47		12.52		0.40	%		2.00	%		0.06	%		(6.54	%)		(5.04	%)
2010 (6)		73,532,931		870,517,645		9.05		13.18		0.40	%		2.00	%		0.00	%		15.92	%		17.79	%
American Funds Growth-Income
2014		14,932,220		$234,229,670		$12.88		$19.16		0.40	%		2.00	%		0.00	%		8.15	%		9.90	%
2013		13,263,924		197,464,056		11.89		17.44		0.40	%		2.00	%		0.00	%		30.36	%		32.46	%
2012		12,698,791		147,138,623		9.70		13.16		0.40	%		2.00	%		1.10	%		14.74	%		16.60	%
2011		13,767,190		139,102,042		8.43		11.29		0.40	%		2.00	%		0.21	%		(4.17	%)		(2.63	%)
2010 (6)		119,156,515		1,253,641,181		8.74		11.59		0.40	%		2.00	%		0.00	%		8.83	%		10.58	%
Comstock
2014		11,966,564		$196,340,110		$12.73		$19.88		0.40	%		2.00	%		0.00	%		7.00	%		8.72	%
2013		11,447,823		174,677,910		11.87		18.29		0.40	%		2.00	%		0.00	%		32.90	%		35.04	%
2012		8,421,136		96,240,436		9.55		13.54		0.40	%		2.00	%		2.04	%		16.19	%		18.07	%
2011		7,988,470		78,081,396		8.17		11.47		0.40	%		2.00	%		0.80	%		(4.04	%)		(2.50	%)
2010		201,103,610		2,023,341,434		8.45		11.76		0.40	%		2.00	%		1.25	%		13.14	%		14.96	%
Dividend Growth
2014		14,320,749		$233,418,326		$12.71		$19.06		0.40	%		2.00	%		0.00	%		9.88	%		11.66	%
2013		12,485,340		187,266,400		11.54		17.07		0.40	%		2.00	%		0.00	%		27.54	%		29.59	%
2012		10,366,905		123,524,523		9.70		13.17		0.40	%		2.00	%		1.68	%		12.28	%		14.09	%
2011		10,330,798		110,860,048		8.58		11.54		0.40	%		2.00	%		0.75	%		1.23	%		2.86	%
2010		92,696,876		969,624,329		8.42		11.22		0.40	%		2.00	%		1.13	%		8.58	%		10.33	%

See Notes to Financial Statements See explanation of references on page H-40

H-33

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year
Variable Accounts For Each Year					AUV (2)				Expense Ratios (3)									Total Returns (5)
	Units Outstanding (1)		Net Assets (1)		Lowest		Highest		Lowest			Highest			Investment Income Ratios (4)			Lowest			Highest
Equity Index
2014		20,476,046		$426,919,302		$13.00		$34.30		0.40	%		2.00	%		0.00	%		11.14	%		12.93	%
2013		15,346,208		325,696,639		11.68		30.67		0.40	%		2.00	%		0.00	%		29.31	%		31.39	%
2012		12,858,272		234,850,039		10.15		23.58		0.40	%		2.00	%		2.38	%		13.47	%		15.31	%
2011		12,410,971		210,702,907		8.93		20.66		0.40	%		2.00	%		0.63	%		(0.19	%)		1.42	%
2010		135,510,918		1,880,023,901		8.89		20.57		0.40	%		2.00	%		1.64	%		12.54	%		14.35	%
Focused Growth
2014		4,698,502		$88,243,974		$11.92		$31.11		0.40	%		2.00	%		0.00	%		7.90	%		9.64	%
2013		4,944,510		87,944,691		11.04		28.37		0.40	%		2.00	%		0.00	%		30.87	%		32.98	%
2012		5,713,379		78,708,749		8.43		21.34		0.40	%		2.00	%		0.00	%		20.76	%		22.71	%
2011		5,618,330		63,410,296		6.98		17.39		0.40	%		2.00	%		0.00	%		(11.48	%)		(10.06	%)
2010		7,203,158		90,989,144		7.88		19.33		0.40	%		2.00	%		0.00	%		8.16	%		9.91	%
Growth
2014		7,115,425		$206,430,326		$13.24		$36.38		0.40	%		2.00	%		0.00	%		6.72	%		8.44	%
2013		7,785,827		216,345,098		12.38		33.88		0.40	%		2.00	%		0.00	%		31.55	%		33.67	%
2012		8,474,420		182,581,410		9.58		25.60		0.40	%		2.00	%		0.87	%		15.89	%		17.76	%
2011		9,588,540		179,016,855		8.26		21.96		0.40	%		2.00	%		0.30	%		(7.92	%)		(6.43	%)
2010		85,904,142		1,272,963,808		8.97		23.71		0.40	%		2.00	%		1.10	%		9.04	%		10.80	%
Large-Cap Growth
2014		9,721,265		$119,819,928		$10.58		$19.64		0.40	%		2.00	%		0.00	%		6.28	%		8.00	%
2013		10,447,687		118,896,374		9.93		18.25		0.40	%		2.00	%		0.00	%		34.76	%		36.93	%
2012		11,735,275		97,168,219		7.35		13.38		0.40	%		2.00	%		0.00	%		15.89	%		17.76	%
2011		11,954,043		83,920,470		6.33		11.40		0.40	%		2.00	%		0.00	%		(0.93	%)		0.67	%
2010		176,154,292		1,275,264,757		6.37		11.36		0.40	%		2.00	%		0.00	%		12.26	%		14.07	%
Large-Cap Value
2014		11,691,612		$224,546,335		$12.80		$22.38		0.40	%		2.00	%		0.00	%		9.29	%		11.06	%
2013		13,007,529		232,345,834		11.69		20.35		0.40	%		2.00	%		0.00	%		29.64	%		31.73	%
2012		13,357,942		186,371,553		10.01		15.60		0.40	%		2.00	%		1.90	%		14.09	%		15.94	%
2011		15,084,202		185,630,156		8.72		13.59		0.40	%		2.00	%		1.00	%		2.65	%		4.30	%
2010		246,305,168		2,790,926,403		8.44		13.16		0.40	%		2.00	%		1.50	%		6.92	%		8.65	%
Long/Short Large-Cap
2014		2,777,840		$42,599,634		$13.53		$19.12		0.40	%		2.00	%		0.00	%		13.24	%		15.06	%
2013		2,048,217		27,702,491		11.94		16.67		0.40	%		2.00	%		0.00	%		32.45	%		34.59	%
2012		1,795,215		18,303,043		9.81		12.29		0.40	%		2.00	%		0.93	%		15.74	%		17.62	%
2011		1,563,520		13,670,575		8.47		10.58		0.40	%		2.00	%		0.23	%		(4.48	%)		(1.85	%)
2010		163,658,373		1,484,842,429		8.87		10.97		0.40	%		2.00	%		0.83	%		10.00	%		11.78	%
Main Street Core
2014		13,482,903		$298,795,934		$13.02		$27.88		0.40	%		2.00	%		0.00	%		8.62	%		10.37	%
2013		13,660,686		290,364,313		11.97		25.51		0.40	%		2.00	%		0.00	%		29.16	%		31.24	%
2012		15,038,579		251,729,596		10.19		19.63		0.40	%		2.00	%		1.00	%		14.70	%		16.55	%
2011		16,681,452		245,704,873		8.83		17.01		0.40	%		2.00	%		0.46	%		(1.51	%)		0.08	%
2010		89,261,364		1,140,177,636		8.91		17.17		0.40	%		2.00	%		0.85	%		13.84	%		15.68	%
Mid-Cap Equity
2014		7,570,388		$186,790,080		$12.46		$30.55		0.40	%		2.00	%		0.00	%		2.16	%		3.81	%
2013		8,152,360		202,234,165		12.17		29.72		0.40	%		2.00	%		0.00	%		33.52	%		35.67	%
2012		9,046,438		171,047,373		9.21		22.13		0.40	%		2.00	%		0.65	%		5.22	%		6.92	%
2011		10,287,844		187,047,734		8.71		20.90		0.40	%		2.00	%		0.19	%		(7.27	%)		(5.77	%)
2010		100,438,398		1,763,411,071		9.37		22.41		0.40	%		2.00	%		0.96	%		21.05	%		23.00	%
Mid-Cap Growth
2014		12,436,715		$187,421,926		$11.85		$18.90		0.40	%		2.00	%		0.00	%		6.35	%		8.06	%
2013		11,877,388		168,244,635		11.11		17.73		0.40	%		2.00	%		0.00	%		30.45	%		32.56	%
2012		11,808,972		127,420,126		8.51		13.55		0.40	%		2.00	%		0.39	%		5.36	%		7.06	%
2011		14,147,172		143,890,622		8.04		12.83		0.40	%		2.00	%		0.00	%		(9.63	%)		(8.18	%)
2010		102,176,584		1,166,351,437		9.91		14.17		0.40	%		2.00	%		0.18	%		30.68	%		32.78	%
Mid-Cap Value
2014		3,863,801		$73,748,731		$12.32		$24.15		0.40	%		2.00	%		0.00	%		4.39	%		6.07	%
2013		4,034,424		81,008,696		11.78		22.76		0.40	%		2.00	%		0.00	%		31.25	%		33.36	%
2012		2,197,155		35,302,950		9.63		17.07		0.40	%		2.00	%		1.22	%		12.21	%		14.03	%
2011		1,877,262		27,075,594		8.53		14.97		0.40	%		2.00	%		5.30	%		(7.55	%)		(6.06	%)
2010		69,489,398		1,086,756,677		11.64		15.94		0.40	%		2.00	%		1.04	%		18.80	%		20.72	%
Small-Cap Equity
2014		2,143,342		$40,012,270		$12.46		$24.90		0.40	%		2.00	%		0.00	%		(0.30	%)		1.31	%
2013		2,166,994		42,926,309		12.48		24.58		0.40	%		2.00	%		0.00	%		32.77	%		34.91	%
2012		1,730,809		26,496,669		10.22		18.22		0.40	%		2.00	%		1.55	%		13.63	%		15.46	%
2011		1,746,622		23,999,441		8.91		15.78		0.40	%		2.00	%		0.32	%		(5.29	%)		(3.76	%)
2010		68,546,291		1,005,017,128		10.98		16.40		0.40	%		2.00	%		0.76	%		17.73	%		19.63	%
Small-Cap Growth
2014		6,271,917		$100,062,089		$12.10		$18.90		0.40	%		2.00	%		0.00	%		(1.62	%)		(0.03	%)
2013		6,164,941		102,133,663		12.28		19.14		0.40	%		2.00	%		0.00	%		31.22	%		33.33	%
2012		5,113,449		66,100,356		9.44		14.54		0.40	%		2.00	%		0.08	%		10.63	%		12.42	%
2011		5,605,810		66,408,786		9.33		13.10		0.40	%		2.00	%		0.00	%		(5.01	%)		(3.48	%)
2010		46,035,543		575,863,126		10.53		13.74		0.40	%		2.00	%		0.00	%		23.52	%		25.51	%

See Notes to Financial Statements See explanation of references on page H-40

H-34

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period
Variable Accounts For Each Year or Period					AUV (2)				Expense Ratios (3)									Total Returns (5)
	Units Outstanding (1)		Net Assets (1)		Lowest		Highest		Lowest			Highest			Investment Income Ratios (4)			Lowest			Highest
Small-Cap Index
2014		7,980,617		$173,523,873		$12.84		$25.84		0.40	%		2.00	%		0.00	%		2.32	%		3.97	%
2013		8,845,127		196,104,294		12.52		25.09		0.40	%		2.00	%		0.00	%		35.54	%		37.72	%
2012		8,539,174		144,625,503		9.90		18.40		0.40	%		2.00	%		1.04	%		13.83	%		15.67	%
2011		8,971,623		135,706,519		8.65		16.07		0.40	%		2.00	%		0.49	%		(6.40	%)		(4.89	%)
2010		14,120,834		228,045,361		9.54		17.07		0.40	%		2.00	%		0.84	%		23.92	%		25.92	%
Small-Cap Value
2014		4,468,595		$113,891,722		$12.43		$38.50		0.40	%		2.00	%		0.00	%		3.55	%		5.22	%
2013		4,318,808		113,335,590		11.98		36.59		0.40	%		2.00	%		0.00	%		29.87	%		31.96	%
2012		3,962,995		83,685,309		10.12		27.73		0.40	%		2.00	%		1.90	%		8.89	%		10.65	%
2011		4,627,316		92,539,493		9.21		25.06		0.40	%		2.00	%		0.79	%		0.28	%		1.90	%
2010		25,649,871		507,065,496		10.64		24.59		0.40	%		2.00	%		1.92	%		22.86	%		24.84	%
Value Advantage
2014		1,205,836		$15,719,763		$12.90		$13.24		0.40	%		2.00	%		0.00	%		11.88	%		13.69	%
05/08/2013 - 12/31/2013		296,624		3,433,029		11.53		11.65		0.40	%		2.00	%		0.00	%		13.62	%		13.62	%
Health Sciences
2014		7,782,064		$246,319,734		$15.50		$44.56		0.40	%		2.00	%		0.00	%		22.07	%		24.04	%
2013		6,841,747		193,698,320		12.67		35.92		0.40	%		2.00	%		0.00	%		53.39	%		55.87	%
2012		5,762,141		112,281,510		11.67		23.11		0.40	%		2.00	%		0.00	%		23.19	%		25.18	%
2011		5,788,491		92,745,700		9.42		18.69		0.40	%		2.00	%		0.00	%		9.73	%		11.49	%
2010		5,376,947		78,236,057		11.48		16.98		0.40	%		2.00	%		0.00	%		20.90	%		22.85	%
Real Estate
2014		7,643,739		$198,490,741		$11.53		$49.87		0.40	%		2.00	%		0.00	%		28.01	%		30.07	%
2013		6,360,107		143,014,249		8.99		38.72		0.40	%		2.00	%		0.00	%		(0.30	%)		1.31	%
2012		6,057,746		148,071,131		9.02		38.61		0.40	%		2.00	%		1.15	%		13.90	%		15.74	%
2011		5,846,474		136,474,877		7.87		33.69		0.40	%		2.00	%		0.00	%		4.03	%		5.70	%
2010		22,894,995		500,338,026		7.52		32.20		0.40	%		2.00	%		1.32	%		27.96	%		30.02	%
Technology
2014		6,834,234		$71,346,045		$7.38		$15.22		0.40	%		2.00	%		0.00	%		7.68	%		9.41	%
2013		6,620,742		62,092,547		6.83		14.10		0.40	%		2.00	%		0.00	%		20.07	%		22.01	%
2012		6,634,407		50,007,442		5.68		11.71		0.40	%		2.00	%		0.00	%		5.01	%		6.71	%
2011		7,694,282		54,736,820		5.39		11.13		0.40	%		2.00	%		0.00	%		(6.78	%)		(5.28	%)
2010		9,238,869		68,102,727		5.77		11.91		0.40	%		2.00	%		0.00	%		19.10	%		21.02	%
Emerging Markets
2014		7,960,255		$191,527,985		$9.47		$59.48		0.40	%		2.00	%		0.00	%		(6.88	%)		(5.37	%)
2013		7,556,620		211,779,913		10.13		62.86		0.40	%		2.00	%		0.00	%		6.59	%		8.31	%
2012		7,611,083		219,443,722		9.50		58.04		0.40	%		2.00	%		0.73	%		19.11	%		21.04	%
2011		7,631,099		190,066,090		7.94		47.95		0.40	%		2.00	%		1.50	%		(19.59	%)		(18.29	%)
2010		47,305,934		1,523,339,567		11.76		58.68		0.40	%		2.00	%		1.09	%		24.51	%		26.51	%
International Large-Cap
2014		19,136,509		$251,422,219		$10.39		$20.82		0.40	%		2.00	%		0.00	%		(6.90	%)		(5.40	%)
2013		17,765,197		249,879,827		11.14		22.01		0.40	%		2.00	%		0.00	%		16.08	%		17.95	%
2012		17,353,155		210,321,826		9.63		18.66		0.40	%		2.00	%		1.61	%		20.10	%		22.04	%
2011		17,403,930		174,918,369		8.01		15.29		0.40	%		2.00	%		1.51	%		(11.89	%)		(10.48	%)
2010		186,192,779		2,161,107,931		9.09		17.08		0.40	%		2.00	%		1.08	%		8.19	%		9.94	%
International Small-Cap
2014		3,581,772		$38,126,956		$9.93		$15.26		0.40	%		2.00	%		0.00	%		(4.35	%)		(2.81	%)
2013		3,716,757		40,940,494		10.38		15.76		0.40	%		2.00	%		0.00	%		25.55	%		27.58	%
2012		3,560,662		30,948,085		8.26		12.39		0.40	%		2.00	%		2.64	%		17.07	%		18.96	%
2011		3,452,612		25,521,024		7.06		10.45		0.40	%		2.00	%		4.37	%		(14.00	%)		(12.62	%)
2010		108,088,460		918,764,096		8.20		12.01		0.40	%		2.00	%		2.59	%		22.39	%		24.36	%
International Value
2014		11,972,895		$132,274,052		$6.90		$12.94		0.40	%		2.00	%		0.00	%		(12.32	%)		(10.90	%)
2013		12,295,784		155,154,489		7.86		14.66		0.40	%		2.00	%		0.00	%		19.27	%		21.20	%
2012		13,172,629		140,393,416		6.59		12.22		0.40	%		2.00	%		3.32	%		15.48	%		17.35	%
2011		14,084,023		131,002,687		5.70		10.52		0.40	%		2.00	%		3.69	%		(14.63	%)		(13.25	%)
2010		135,322,299		1,388,808,120		6.67		12.25		0.40	%		2.00	%		2.52	%		0.56	%		2.18	%
Currency Strategies
2014		362,954		$3,718,503		$10.08		$10.52		0.40	%		2.00	%		0.00	%		1.48	%		3.12	%
2013		233,463		2,343,934		9.92		10.20		0.40	%		2.00	%		0.00	%		1.67	%		2.54	%
10/04/2012 - 12/31/2012		22,190		218,558		9.84		9.86		1.15	%		2.00	%		0.00	%		(2.04	%)		(2.04	%)
Global Absolute Return
2014		839,425		$8,471,478		$9.90		$10.37		0.40	%		2.00	%		0.00	%		3.93	%		5.61	%
2013		609,758		5,895,675		9.52		9.82		0.40	%		2.00	%		0.00	%		(2.87	%)		(1.55	%)
10/02/2012 - 12/31/2012		91,863		913,961		9.94		9.97		0.40	%		1.75	%		0.00	%		(0.63	%)		(0.62	%)
Precious Metals
2014		2,127,251		$9,543,393		$3.86		$6.89		0.40	%		2.00	%		0.00	%		(9.81	%)		(8.35	%)
2013		1,372,870		6,343,543		4.28		7.57		0.40	%		2.00	%		0.00	%		(49.85	%)		(49.04	%)
10/02/2012 - 12/31/2012		268,707		2,296,033		8.53		8.57		0.40	%		2.00	%		0.00	%		(14.06	%)		(14.06	%)

See Notes to Financial Statements See explanation of references on page H-40

H-35

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period
Variable Accounts For Each Year or Period					AUV (2)				Expense Ratios (3)									Total Returns (5)
	Units Outstanding (1)		Net Assets (1)		Lowest		Highest		Lowest			Highest			Investment Income Ratios (4)			Lowest			Highest
American Funds Asset Allocation
2014		114,445,935		$1,921,763,755		$11.52		$21.50		0.40	%		2.00	%		0.00	%		3.06	%		4.72	%
2013		82,587,111		1,451,312,719		11.15		20.53		0.40	%		2.00	%		0.00	%		20.84	%		22.79	%
2012		34,171,699		540,802,154		10.59		16.72		0.40	%		2.00	%		2.24	%		13.42	%		15.25	%
2011		18,822,413		264,409,793		9.32		14.51		0.40	%		2.00	%		3.26	%		(1.07	%)		0.52	%
2010		15,364,389		217,301,104		14.00		14.43		0.40	%		2.00	%		0.00	%		9.82	%		11.59	%
Pacific Dynamix - Conservative Growth
2014		28,547,036		$389,308,839		$10.69		$16.01		0.40	%		2.00	%		0.00	%		3.41	%		5.08	%
2013		22,210,972		305,886,551		10.32		15.23		0.40	%		2.00	%		0.00	%		7.22	%		8.95	%
2012		16,965,373		224,661,039		10.48		13.98		0.40	%		2.00	%		1.79	%		7.25	%		8.98	%
2011		10,215,392		127,014,082		9.75		12.83		0.40	%		2.00	%		2.85	%		0.88	%		2.51	%
2010		9,640,082		118,454,682		10.76		12.52		0.40	%		2.00	%		3.65	%		8.10	%		9.84	%
Pacific Dynamix - Moderate Growth
2014		101,334,168		$1,454,786,286		$11.08		$17.82		0.40	%		2.00	%		0.00	%		3.44	%		5.11	%
2013		72,116,068		1,062,562,189		10.69		16.96		0.40	%		2.00	%		0.00	%		12.67	%		14.49	%
2012		42,534,997		592,462,530		10.30		14.81		0.40	%		2.00	%		1.97	%		9.52	%		11.29	%
2011		21,119,209		270,584,406		9.37		13.31		0.40	%		2.00	%		3.00	%		(1.51	%)		0.08	%
2010		10,922,838		142,633,746		10.91		13.30		0.40	%		2.00	%		2.32	%		9.71	%		11.48	%
Pacific Dynamix - Growth
2014		29,236,740		$480,533,918		$11.49		$19.71		0.40	%		2.00	%		0.00	%		3.34	%		5.01	%
2013		22,985,415		384,937,974		11.10		18.77		0.40	%		2.00	%		0.00	%		18.59	%		20.50	%
2012		16,424,101		241,462,044		10.15		15.57		0.40	%		2.00	%		1.50	%		11.50	%		13.31	%
2011		12,686,000		167,498,329		9.05		13.74		0.40	%		2.00	%		2.17	%		(3.79	%)		(2.24	%)
2010		6,693,666		92,443,090		11.09		14.06		0.40	%		2.00	%		1.67	%		11.57	%		13.37	%
Portfolio Optimization Conservative
2014		205,287,616		$2,264,290,057		$10.04		$11.50		0.40	%		2.00	%		0.00	%		1.34	%		2.98	%
2013		245,462,519		2,661,142,037		9.89		11.17		0.40	%		2.00	%		0.00	%		1.00	%		2.62	%
2012		332,413,947		3,551,104,617		10.60		11.01		0.40	%		2.00	%		2.56	%		7.93	%		9.67	%
05/02/2011 - 12/31/2011		341,261,459		3,360,565,762		9.82		10.16		0.40	%		2.00	%		1.74	%		(1.60	%)		(1.28	%)
Portfolio Optimization Moderate-Conservative
2014		305,930,571		$3,516,980,488		$10.51		$12.22		0.40	%		2.00	%		0.00	%		1.97	%		3.62	%
2013		345,001,217		3,874,129,402		10.28		11.94		0.40	%		2.00	%		0.00	%		6.02	%		7.73	%
2012		389,474,277		4,105,358,719		10.45		11.22		0.40	%		2.00	%		2.31	%		9.44	%		11.21	%
05/02/2011 - 12/31/2011		393,511,164		3,769,605,283		9.55		10.21		0.40	%		2.00	%		1.45	%		(4.30	%)		(3.99	%)
Portfolio Optimization Moderate
2014		1,159,837,591		$13,740,334,379		$10.87		$13.05		0.40	%		2.00	%		0.00	%		2.55	%		4.20	%
2013		1,285,525,918		14,788,807,261		10.58		12.67		0.40	%		2.00	%		0.00	%		10.51	%		12.29	%
2012		1,359,555,278		14,084,003,692		10.27		11.42		0.40	%		2.00	%		2.00	%		10.70	%		12.49	%
05/02/2011 - 12/31/2011		1,439,820,012		13,399,831,502		9.28		10.28		0.40	%		2.00	%		1.30	%		(7.15	%)		(6.72	%)
Portfolio Optimization Growth
2014		933,704,292		$11,365,570,598		$11.26		$13.89		0.40	%		2.00	%		0.00	%		3.00	%		4.67	%
2013		1,054,534,340		12,402,071,707		10.92		13.43		0.40	%		2.00	%		0.00	%		15.14	%		16.99	%
2012		1,153,549,501		11,725,479,670		10.08		11.62		0.40	%		2.00	%		1.67	%		11.76	%		13.56	%
05/02/2011 - 12/31/2011		1,292,977,838		11,700,409,383		9.02		10.36		0.40	%		2.00	%		1.01	%		(9.59	%)		(9.44	%)
Portfolio Optimization Aggressive-Growth
2014		189,654,485		$2,328,709,665		$11.53		$14.56		0.40	%		2.00	%		0.00	%		3.20	%		4.87	%
2013		215,616,870		2,554,103,277		11.16		14.05		0.40	%		2.00	%		0.00	%		18.47	%		20.38	%
2012		236,708,662		2,355,484,283		9.87		11.81		0.40	%		2.00	%		1.36	%		12.88	%		14.71	%
05/03/2011 - 12/31/2011		272,597,493		2,391,342,654		8.74		10.42		0.40	%		2.00	%		0.85	%		(11.81	%)		(11.67	%)
Invesco V.I Balanced-Risk Allocation Series II
2014		26,922,812		$413,669,967		$10.18		$17.89		0.40	%		2.00	%		0.00	%		3.62	%		5.29	%
2013		27,094,830		416,315,944		9.80		16.99		0.40	%		2.00	%		1.46	%		(0.59	%)		1.01	%
2012		27,480,299		438,200,924		10.79		16.82		0.40	%		2.00	%		0.89	%		8.44	%		10.20	%
2011		15,070,053		222,105,206		9.93		15.27		0.40	%		2.00	%		0.27	%		8.43	%		10.17	%
2010		5,239,538		71,053,499		10.73		13.86		0.40	%		2.00	%		0.21	%		7.16	%		8.88	%
Invesco V.I Equity and Income Series II (7)
05/06/2014 - 12/31/2014		596,467		$6,263,393		$10.17		$10.60		0.40	%		2.00	%		2.19	%		6.17	%		6.17	%
American Century VP Mid Cap Value Class II
2014		2,279,288		$32,109,244		$13.12		$14.68		0.40	%		2.00	%		1.03	%		13.94	%		15.77	%
01/03/2013 - 12/31/2013		652,946		8,026,437		11.49		12.68		0.40	%		2.00	%		1.25	%		24.89	%		25.44	%
American Funds IS Asset Allocation Fund Class 4 (7)
05/13/2014 - 12/31/2014		1,234,348		$12,792,925		$10.35		$10.37		0.75	%		0.95	%		5.04	%		3.28	%		3.28	%
American Funds IS Capital Income Builder Class 4 (7)
05/01/2014 - 12/31/2014		1,708,931		$16,919,140		$9.85		$9.95		0.40	%		1.95	%		2.89	%		(1.31	%)		(1.31	%)
American Funds IS Global Growth Fund Class 4
2014		1,424,224		$15,128,989		$10.29		$10.78		0.40	%		2.00	%		2.03	%		0.04	%		1.61	%
11/06/2013 - 12/31/2013		68,070		720,733		10.58		10.61		0.40	%		1.95	%		See Note	(8)		5.60	%		5.64	%
American Funds IS Growth Fund Class 4 (7)
05/13/2014 - 12/31/2014		366,639		$3,961,069		$10.75		$10.81		0.75	%		1.50	%		2.65	%		7.55	%		7.55	%

See Notes to Financial Statements See explanation of references on page H-40

H-36

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period
Variable Accounts For Each Year or Period					AUV (2)				Expense Ratios (3)									Total Returns (5)
	Units Outstanding		Net Assets		Lowest		Highest		Lowest			Highest			Investment Income Ratios (4)			Lowest			Highest
American Funds IS Growth-Income Fund Class 4 (7)
05/19/2014 - 12/31/2014		750,221		$8,101,537		$10.75		$10.80		0.75	%		1.50	%		4.10	%		7.24	%		7.24	%
American Funds IS International Fund Class 4 (7)
05/13/2014 - 12/31/2014		918,721		$8,793,086		$9.53		$9.62		0.40	%		1.85	%		4.02	%		(4.83	%)		(4.83	%)
American Funds IS International Growth and Income Fund Class 4
2014		1,827,170		$17,753,951		$9.27		$9.89		0.40	%		2.00	%		6.02	%		(5.16	%)		(3.78	%)
11/06/2013 - 12/31/2013		53,555		549,512		10.25		10.28		0.40	%		1.85	%		See Note	(8)		2.55	%		2.58	%
American Funds IS Managed Risk Asset Allocation Fund Class P2
2014		2,881,336		$30,085,703		$10.37		$10.56		0.40	%		1.95	%		0.09	%		1.02	%		2.50	%
11/04/2013 - 12/31/2013		367,816		3,784,550		10.28		10.31		0.40	%		1.85	%		See Note	(8)		2.69	%		2.69	%
American Funds IS New World Fund Class 4
2014		1,235,726		$11,390,698		$9.14		$9.31		0.40	%		2.00	%		2.09	%		(9.95	%)		(8.50	%)
11/06/2013 - 12/31/2013		58,679		596,339		10.15		10.18		0.40	%		2.00	%		See Note	(8)		1.86	%		1.93	%
American Funds IS U.S. Government/AAA-Rated Securities Fund Class 4
2014		1,987,612		$20,250,748		$10.11		$10.30		0.40	%		2.00	%		3.74	%		3.04	%		4.34	%
11/06/2013 - 12/31/2013		37,514		369,758		9.85		9.87		0.40	%		1.65	%		See Note	(8)		(1.32	%)		(1.32	%)
BlackRock Capital Appreciation V.I. Class III
2014		2,388,125		$38,100,735		$13.78		$17.93		0.75	%		1.50	%		0.00	%		6.94	%		7.74	%
2013(6)		2,608,790		38,662,241		12.89		16.64		0.75	%		1.50	%		0.00	%		31.41	%		32.40	%
2012		1,960,006		21,982,691		9.81		12.57		0.75	%		1.50	%		1.27	%		11.87	%		12.72	%
2011		440,496		4,427,124		8.77		11.15		0.75	%		1.50	%		0.60	%		(9.93	%)		(9.75	%)
06/14/2010 - 12/31/2010		37,719		465,927		12.34		12.36		0.75	%		0.95	%		0.57	%		20.48	%		20.48	%
BlackRock Global Allocation V.I. Class III
2014		197,530,673	$	2,319,680,733		$10.68		$12.92		0.40	%		2.00	%		2.23	%		(0.09	%)		1.53	%
2013		192,490,015		2,264,930,424		10.67		12.77		0.40	%		2.00	%		1.11	%		12.15	%		13.96	%
2012		176,576,180		1,848,560,619		9.67		11.24		0.40	%		2.00	%		1.52	%		7.78	%		9.53	%
2011		168,923,685		1,630,843,910		8.95		10.30		0.40	%		2.00	%		2.33	%		(5.54	%)		(4.02	%)
2010		160,465,352		1,631,522,592		10.01		10.77		0.40	%		2.00	%		1.12	%		7.59	%		9.32	%
BlackRock iShares Alternative Strategies V.I. Class I (7)
05/01/2014 - 12/31/2014		422,565		$4,322,369		$10.19		$10.29		0.40	%		1.85	%		5.41	%		2.01	%		2.25	%
BlackRock iShares Dynamic Allocation V.I. Class I (7)
05/09/2014 - 12/31/2014		507,566		$5,089,457		$9.99		$10.09		0.40	%		1.95	%		3.31	%		0.16	%		0.16	%
BlackRock iShares Dynamic Fixed Income V.I. Class I (7)
05/05/2014 - 12/31/2014		306,826		$3,075,781		$10.00		$10.09		0.40	%		1.85	%		2.22	%		0.14	%		0.14	%
BlackRock iShares Equity Appreciation V.I. Class I (7)
05/07/2014 - 12/31/2014		324,923		$3,231,328		$9.90		$10.01		0.40	%		2.00	%		3.78	%		(0.12	%)		(0.12	%)
Fidelity VIP Contrafund Service Class 2
2014		5,323,193		$72,219,421		$13.07		$14.13		0.40	%		2.00	%		1.03	%		9.44	%		11.21	%
01/02/2013 - 12/31/2013		2,307,323		28,592,833		11.92		12.71		0.40	%		2.00	%		1.80	%		25.80	%		25.80	%
Fidelity VIP FundsManager 60% Service Class 2
2014		10,728,869		$129,639,995		$11.34		$12.71		0.40	%		2.00	%		1.34	%		3.18	%		4.84	%
2013		6,504,891		76,394,645		10.97		12.13		0.40	%		2.00	%		1.67	%		16.05	%		17.92	%
05/02/2012 - 12/31/2012		1,903,388		19,446,272		10.17		10.28		0.40	%		2.00	%		3.77	%		1.86	%		2.16	%
Fidelity VIP Money Market Service Class (7)
04/30/2014 - 12/31/2014		24,533,479		$242,943,308		$9.87		$9.97		0.40	%		2.00	%		0.01	%		(1.33	%)		(0.26	%)
Fidelity VIP Strategic Income Service Class 2
2014		1,705,810		$17,339,350		$10.09		$10.28		0.40	%		2.00	%		5.82	%		1.33	%		2.96	%
11/05/2013 - 12/31/2013		99,627		992,922		9.95		9.98		0.40	%		2.00	%		See Note	(9)		(0.09	%)		(0.09	%)
First Trust/Dow Jones Dividend & Income Allocation Class 1
2014		14,347,175		$175,643,722		$11.28		$12.81		0.40	%		2.00	%		0.82	%		7.86	%		9.60	%
2013		8,654,689		98,458,115		10.44		11.69		0.40	%		2.00	%		1.06	%		10.52	%		12.30	%
05/04/2012 - 12/31/2012		2,940,999		30,404,882		10.30		10.41		0.40	%		2.00	%		4.31	%		4.18	%		4.32	%
First Trust Multi Income Allocation Class I (7)
05/14/2014 - 12/31/2014		458,764		$4,753,659		$10.32		$10.43		0.40	%		1.95	%		2.79	%		2.90	%		2.90	%
Franklin Founding Funds Allocation VIP Class 2
2014		709,358		$10,199,135		$13.48		$15.12		0.75	%		1.50	%		2.63	%		1.32	%		2.08	%
2013		457,225		6,458,424		13.30		14.82		0.75	%		1.50	%		11.50	%		21.93	%		22.85	%
2012		309,111		3,589,271		10.91		12.06		0.75	%		1.50	%		2.42	%		13.61	%		14.47	%
2011		188,091		1,920,337		9.60		10.54		0.75	%		1.50	%		0.01	%		(2.47	%)		(2.28	%)
06/01/2010 - 12/31/2010		45,726		492,779		10.76		10.78		0.75	%		0.95	%		5.19	%		14.59	%		14.59	%

See Notes to Financial Statements See explanation of references on page H-40

H-37

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period
Variable Accounts For Each Year or Period					AUV (2)				Expense Ratios (3)									Total Returns (5)
	Units Outstanding		Net Assets		Lowest		Highest		Lowest			Highest			Investment Income Ratios (4)			Lowest			Highest
Franklin Founding Funds Allocation VIP Class 4
2014		37,391,068		$463,595,554		$11.29		$14.67		0.40	%		2.00	%		2.74	%		0.72	%		2.34	%
2013		34,904,969		429,268,623		11.19		14.51		0.40	%		2.00	%		10.11	%		21.23	%		23.19	%
2012		27,866,284		281,823,553		9.84		11.92		0.40	%		2.00	%		2.72	%		12.89	%		14.71	%
2011		28,990,959		258,094,674		8.71		10.52		0.40	%		2.00	%		0.02	%		(3.62	%)		(2.06	%)
2010		28,087,050		257,779,715		9.03		9.46		0.40	%		2.00	%		2.17	%		8.06	%		9.80	%
Franklin Mutual Global Discovery VIP Class 2
2014		11,417,807		$161,672,065		$11.83		$16.30		0.40	%		2.00	%		2.31	%		3.62	%		5.29	%
2013		7,284,029		99,313,055		11.39		15.54		0.40	%		2.00	%		2.59	%		25.72	%		26.66	%
2012		2,296,306		26,102,806		10.59		12.27		0.75	%		1.50	%		3.06	%		11.67	%		12.51	%
2011		739,820		7,624,646		9.49		10.90		0.75	%		1.50	%		2.11	%		(3.88	%)		(3.68	%)
06/14/2010 - 12/31/2010		57,894		655,176		11.31		11.32		0.75	%		0.95	%		1.97	%		11.09	%		11.09	%
Franklin Rising Dividends VIP Class 2
2014		6,308,088		$81,637,319		$12.33		$13.69		0.40	%		2.00	%		1.33	%		6.57	%		8.29	%
01/03/2013 - 12/31/2013		3,202,526		39,120,914		11.54		12.64		0.40	%		2.00	%		1.14	%		25.64	%		25.64	%
Templeton Global Bond VIP Class 2
2014		6,421,265		$64,880,109		$9.72		$12.60		0.40	%		2.00	%		4.98	%		(0.18	%)		1.43	%
2013		3,172,523		32,168,476		9.72		12.47		0.40	%		2.00	%		4.60	%		0.12	%		0.87	%
2012		220,722		2,537,573		11.09		12.36		0.75	%		1.50	%		5.81	%		13.35	%		14.20	%
2011		81,042		830,545		9.79		10.82		0.75	%		1.50	%		3.24	%		(1.81	%)		(1.61	%)
06/15/2010 - 12/31/2010		3,397		37,351		10.99		11.00		0.75	%		0.95	%		0.00	%		8.02	%		8.02	%
GE Investments Total Return Class 3
2014		33,433,586		$514,307,423		$11.01		$17.73		0.40	%		2.00	%		1.52	%		2.99	%		4.65	%
2013		31,831,721		486,525,393		10.67		16.94		0.40	%		2.00	%		1.40	%		12.37	%		14.18	%
2012		25,008,863		347,372,932		10.00		14.84		0.40	%		2.00	%		1.64	%		10.02	%		11.80	%
2011		17,191,962		219,082,536		9.07		13.27		0.40	%		2.00	%		1.84	%		(5.01	%)		(3.48	%)
2010		11,244,161		151,518,466		10.70		13.75		0.40	%		2.00	%		1.66	%		7.20	%		8.93	%
Ivy Funds VIP Asset Strategy (7)
05/09/2014 - 12/31/2014		1,047,942		$10,170,502		$9.67		$9.77		0.40	%		1.95	%		0.04	%		(1.66	%)		(1.66	%)
Janus Aspen Series Balanced Service Shares
2014		45,580,660		$555,635,249		$11.66		$12.70		0.40	%		2.00	%		1.65	%		6.10	%		7.81	%
01/08/2013 - 12/31/2013		21,913,660		253,480,455		10.97		11.78		0.40	%		2.00	%		1.88	%		16.86	%		16.86	%
Janus Aspen Series Flexible Bond Service Shares (7)
05/06/2014 - 12/31/2014		846,509		$8,532,151		$10.05		$10.15		0.40	%		1.85	%		5.17	%		0.51	%		0.58	%
JPMorgan Insurance Trust Core Bond Class 1
2014		34,315		$499,408		$14.26		$14.57		1.40	%		1.60	%		3.62	%		3.25	%		3.46	%
2013		37,826		532,180		13.81		14.08		1.40	%		1.60	%		4.27	%		(3.03	%)		(2.84	%)
2012		39,152		566,888		14.24		14.49		1.40	%		1.60	%		4.67	%		3.66	%		3.86	%
2011		58,382		813,262		13.74		13.95		1.40	%		1.60	%		5.20	%		5.76	%		5.97	%
2010		80,469		1,058,335		12.99		13.17		1.40	%		1.60	%		3.89	%		7.50	%		7.72	%
JPMorgan Insurance Trust Mid Cap Value Class 1
2014		3,963		$93,285		$23.14		$23.64		1.40	%		1.60	%		0.55	%		13.28	%		13.51	%
2013		5,339		110,832		20.43		20.82		1.40	%		1.60	%		0.83	%		30.20	%		30.46	%
2012		5,994		95,439		15.69		15.96		1.40	%		1.60	%		0.85	%		18.46	%		18.70	%
2011		6,896		92,542		13.24		13.45		1.40	%		1.60	%		3.38	%		0.54	%		0.74	%
2010		12,270		163,530		13.17		13.35		1.40	%		1.60	%		1.12	%		21.50	%		21.74	%
JPMorgan Insurance Trust U.S. Equity Class 1
2014		2,679		$57,893		$21.61		$21.61		1.40	%		1.40	%		0.90	%		12.32	%		12.32	%
2013		2,960		56,954		19.24		19.24		1.40	%		1.40	%		1.27	%		34.48	%		34.48	%
2012		3,223		46,122		14.31		14.31		1.40	%		1.40	%		1.74	%		16.01	%		16.01	%
2011		6,120		75,489		12.33		12.33		1.40	%		1.60	%		2.34	%		(2.17	%)		(2.17	%)
2010		3,173,465		39,950,928		12.44		12.61		1.40	%		1.60	%		1.05	%		11.77	%		12.00	%
Lord Abbett Bond Debenture Class VC
2014		3,596,954		$38,865,874		$10.44		$11.15		0.40	%		2.00	%		6.20	%		2.28	%		3.93	%
01/02/2013 - 12/31/2013		1,800,984		19,023,405		10.19		10.73		0.40	%		2.00	%		11.14	%		5.82	%		6.24	%
Lord Abbett International Core Equity Class VC
2014		4,224,106		$52,268,554		$9.04		$13.09		0.40	%		2.00	%		1.31	%		(10.82	%)		(10.15	%)
2013		2,288,822		31,715,991		11.67		14.57		0.75	%		1.50	%		2.04	%		21.33	%		22.24	%
2012		887,228		9,887,817		9.62		11.92		0.75	%		1.50	%		2.19	%		13.41	%		14.27	%
2011		329,992		3,141,012		8.48		10.43		0.75	%		1.50	%		1.90	%		(14.28	%)		(14.11	%)
06/14/2010 - 12/31/2010		30,034		364,544		12.13		12.14		0.75	%		0.95	%		1.42	%		18.52	%		18.52	%
Lord Abbett Total Return Class VC
2014		22,125,357		$245,477,681		$10.12		$12.24		0.40	%		2.00	%		2.34	%		4.50	%		5.29	%
2013		13,662,820		145,137,285		10.36		11.63		0.75	%		1.50	%		2.84	%		(2.58	%)		(1.84	%)
2012		4,488,422		49,547,933		10.58		11.84		0.75	%		1.50	%		3.18	%		5.23	%		6.02	%
2011		1,161,547		12,771,212		10.71		11.17		0.75	%		1.50	%		4.42	%		7.75	%		7.96	%
06/14/2010 - 12/31/2010		111,862		1,157,068		10.34		10.35		0.75	%		0.95	%		6.57	%		3.30	%		3.30	%
MFS Investors Growth Stock Series - Service Class
2014		3,778,625		$62,835,877		$15.80		$19.46		0.75	%		1.50	%		0.32	%		9.46	%		10.28	%
2013		1,900,744		28,699,336		14.43		17.65		0.75	%		1.50	%		0.53	%		28.12	%		29.08	%
2012		36,185		436,215		11.27		13.67		0.75	%		1.50	%		0.19	%		14.94	%		15.81	%
2011		36,706		392,918		9.80		11.81		0.75	%		1.50	%		0.33	%		(0.38	%)		(0.38	%)
11/15/2010 - 12/31/2010		102		1,210		11.85		11.85		0.75	%		0.75	%		0.00	%		5.18	%		5.18	%

See Notes to Financial Statements See explanation of references on page H-40

H-38

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

Variable Accounts For Each Year or Period	At the End of Each Year or Period
					AUV (2)				Expense Ratios (3)									Total Returns (5)
	Units Outstanding		Net Assets		Lowest		Highest		Lowest			Highest			Investment Income Ratios (4)			Lowest			Highest
MFS Total Return Series - Service Class
2014		19,182,534		$245,389,009		$11.50		$14.16		0.40	%		2.00	%		1.75	%		6.09	%		7.80	%
2013		12,789,202		154,905,751		10.82		13.30		0.40	%		2.00	%		2.00	%		16.39	%		18.26	%
2012		4,858,231		50,782,667		10.29		11.38		0.40	%		2.00	%		2.62	%		8.73	%		10.49	%
05/02/2011 - 12/31/2011		1,211,805		11,523,315		9.47		10.42		0.40	%		2.00	%		3.13	%		(5.12	%)		(5.12	%)
MFS Utilities Series - Service Class
2014		3,250,292		$40,479,521		$11.54		$13.18		0.40	%		2.00	%		2.10	%		10.24	%		12.02	%
01/02/2013 - 12/31/2013		860,725		9,770,096		10.45		11.77		0.40	%		2.00	%		2.39	%		16.21	%		16.21	%
MFS Value Series - Service Class
2014		3,946,952		$67,462,964		$16.08		$19.37		0.75	%		1.50	%		1.41	%		8.56	%		9.38	%
2013		2,880,977		45,232,638		14.81		17.71		0.75	%		1.50	%		1.07	%		33.58	%		34.58	%
2012		1,625,561		19,270,734		11.09		13.16		0.75	%		1.50	%		1.55	%		14.15	%		15.01	%
2011		654,274		6,980,343		9.71		11.44		0.75	%		1.50	%		1.52	%		(1.41	%)		(1.21	%)
06/14/2010 - 12/31/2010		54,123		626,544		11.57		11.58		0.75	%		0.95	%		0.00	%		13.98	%		13.98	%
PIMCO All Asset All Authority - Advisor Class (7)
05/09/2014 - 12/31/2014		272,931		$2,546,554		$9.29		$9.39		0.40	%		2.00	%		10.96	%		(7.26	%)		(7.26	%)
PIMCO CommodityRealReturn Strategy - Advisor Class
2014		863,444		$5,943,758		$6.67		$7.15		0.40	%		1.95	%		0.27	%		(20.11	%)		(18.94	%)
01/04/2013 - 12/31/2013		606,467		5,156,923		8.35		8.89		0.40	%		1.85	%		1.02	%		(14.71	%)		(14.71	%)
PIMCO Global Multi-Asset Managed Allocation - Advisor Class
2014		16,038,881		$163,485,198		$9.02		$10.92		0.40	%		2.00	%		2.20	%		2.50	%		4.15	%
2013		24,901,462		248,642,587		8.77		10.48		0.40	%		2.00	%		3.16	%		(9.73	%)		(8.28	%)
2012		24,905,676		275,783,264		9.68		11.43		0.40	%		2.00	%		3.21	%		6.62	%		8.34	%
2011		23,248,542		240,652,023		9.07		10.55		0.40	%		2.00	%		1.77	%		(3.74	%)		(2.19	%)
05/03/2010 - 12/31/2010		7,982,856		85,454,825		10.67		10.79		0.40	%		2.00	%		5.94	%		6.73	%		7.33	%
Jennison Class II
2014		20,021		$377,567		$18.68		$19.58		1.40	%		1.75	%		0.00	%		7.68	%		8.06	%
2013		21,252		371,764		17.35		18.12		1.40	%		1.75	%		0.00	%		34.73	%		35.20	%
2012		21,440		278,181		12.88		13.40		1.40	%		1.75	%		0.00	%		13.72	%		14.12	%
2011		24,172		275,506		11.32		11.74		1.40	%		1.75	%		0.00	%		(1.82	%)		(1.47	%)
2010		28,541		331,282		11.53		11.92		1.40	%		1.75	%		0.02	%		9.52	%		9.90	%
SP International Growth Class II
2014		18,351		$270,374		$14.59		$15.32		1.40	%		1.75	%		0.00	%		(7.75	%)		(7.43	%)
2013		18,413		293,852		15.81		16.55		1.40	%		1.75	%		0.00	%		16.46	%		17.13	%
2012		18,471		252,862		13.58		14.13		1.40	%		1.75	%		0.00	%		19.74	%		20.16	%
2011		23,451		267,598		11.34		11.76		1.40	%		1.75	%		0.48	%		(16.78	%)		(16.49	%)
2010		29,002		398,761		13.63		14.08		1.40	%		1.75	%		1.18	%		11.84	%		12.23	%
SP Prudential U.S. Emerging Growth Class II
2014		14,317		$378,018		$26.27		$27.52		1.40	%		1.75	%		0.00	%		7.26	%		7.63	%
2013		14,342		352,902		24.49		25.57		1.40	%		1.75	%		0.00	%		25.62	%		26.06	%
2012		14,388		281,736		19.50		20.28		1.40	%		1.75	%		0.00	%		14.42	%		14.82	%
2011		15,932		272,465		17.04		17.67		1.40	%		1.75	%		0.22	%		0.00	%		0.35	%
2010		16,211		277,114		17.04		17.60		1.40	%		1.75	%		0.22	%		17.88	%		18.29	%
Value Class II
2014		11,486		$227,422		$19.36		$20.28		1.40	%		1.75	%		0.00	%		7.76	%		8.14	%
2013		12,685		232,234		17.97		18.76		1.40	%		1.75	%		0.00	%		30.23	%		30.69	%
2012		13,603		190,730		13.80		14.35		1.40	%		1.75	%		0.56	%		12.15	%		12.55	%
2011		18,428		229,388		12.30		12.75		1.40	%		1.75	%		0.56	%		(7.52	%)		(7.19	%)
2010		25,522		344,314		13.30		13.74		1.40	%		1.75	%		0.33	%		11.42	%		11.81	%
Schwab VIT Balanced
2014		3,592,206		$40,815,210		$11.36		$11.36		0.60	%		0.60	%		0.58	%		3.53	%		3.53	%
2013		2,364,119		25,946,596		10.98		10.98		0.60	%		0.60	%		0.13	%		6.25	%		6.25	%
09/06/2012 - 12/31/2012		194,239		2,006,339		10.33		10.33		0.60	%		0.60	%		0.00	%		1.35	%		1.35	%
Schwab VIT Balanced with Growth
2014		7,816,994		$93,344,353		$11.94		$11.94		0.60	%		0.60	%		0.76	%		3.53	%		3.53	%
2013		5,754,492		66,374,416		11.53		11.53		0.60	%		0.60	%		0.04	%		10.13	%		10.13	%
10/02/2012 - 12/31/2012		131,959		1,382,119		10.47		10.47		0.60	%		0.60	%		0.00	%		0.79	%		0.79	%
Schwab VIT Growth
2014		8,114,949		$102,661,192		$12.65		$12.65		0.60	%		0.60	%		0.80	%		3.35	%		3.35	%
2013		5,915,879		72,417,931		12.24		12.24		0.60	%		0.60	%		0.03	%		14.87	%		14.87	%
10/09/2012 - 12/31/2012		30,296		322,843		10.66		10.66		0.60	%		0.60	%		0.00	%		2.10	%		2.10	%
Schwab VIT Money Market (7)
03/18/2014 - 11/06/2014 (10)		-		$-		$9.96		$9.96		0.60	%		0.60	%		0.01	%		(0.38	%)		(0.38	%)
Van Eck VIP Global Hard Assets Class S
2014		908,958		$7,848,908		$8.27		$9.04		0.40	%		2.00	%		0.00	%		(20.95	%)		(19.67	%)
01/03/2013 - 12/31/2013		401,574		4,316,470		10.35		11.34		0.40	%		2.00	%		0.17	%		6.26	%		6.26	%

See Notes to Financial Statements See explanation of references on page H-40

H-39

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

Explanation of References for Financial Highlights on pages H-33 through H-39

(1) The significant decrease in units outstanding and net assets during the year ended December 31, 2011 on most of the variable accounts that invested in Class I shares of the corresponding non-portfolio optimization portfolios of Pacific Select Fund was mainly due to the transfer of assets from those variable accounts to the five Portfolio Optimization Variable Accounts (Portfolio Optimization Conservative, Portfolio Optimization Moderate-Conservative, Portfolio Optimization Moderate, Portfolio Optimization Growth, and Portfolio Optimization Aggressive-Growth Variable Accounts), which were added to the Separate Account during 2011.

(2) The AUV is presented as a range from lowest to highest based on the ending AUV for all product groupings as of December 31 of each year or period ended. The lowest and highest AUV may be the same for a variable account if there is only one product which has investments at the end of the year or period.

(3) The expense ratios represent contract fees and expenses of the Separate Account for each period indicated. These ratios include only those expenses that result in a direct reduction of unit values. Excluded are expenses of the underlying portfolios/funds in which the variable accounts invest and charges made directly to contract owner accounts through the redemption of units (See Note 4 in Notes to Financial Statements). The expense ratios are presented as a range of lowest to highest based on the product groupings. The expense ratios for periods of less than one full year are annualized.

(4) The investment income ratios represent the dividends, excluding distributions of capital gains, received by the variable accounts from the underlying portfolios/funds, divided by the average daily net assets (See Note 3 in Notes to Financial Statements for information on dividends and distributions). These ratios are before the deduction of mortality and expense risk (“M&E”) fees, administrative fees, and additional death benefit rider charges, if any, that are assessed against contract owner accounts. The recognition of investment income by the variable accounts is affected by the timing of the declaration of dividends by the underlying portfolios/funds in which the variable accounts invest. The investment income ratios for periods of less than one full year are annualized.

(5) Total returns reflect changes in unit values of the underlying portfolios/funds and deductions for M&E fees, administrative fees, and additional death benefit rider charges, if any, assessed through the daily AUV calculation. These fees and charges are assessed at annual rates ranging from 0.40% to 2.00% based on the average daily net assets of each variable account as discussed in Note 4 in Notes to Financial Statements. Total returns do not include deductions at the separate account or contract level for any premium loads, maintenance fees, premium tax charges, withdrawal and surrender charges, charges for other optional benefit riders, or other charges that may be incurred under a contract which, if incurred, would have resulted in lower returns. Total returns are presented as a range from lowest to highest values based on the product grouping representing the minimum to maximum expense ratio amounts. Total returns for those contracts which commenced operations subsequent to the beginning of the year or period indicated for each Variable Account may not be within the ranges presented, and these contracts are excluded when calculating the total returns from lowest to highest as presented in the table. Total returns are calculated for each period indicated and are not annualized for periods of less than one full year.

(6) Investment income ratio represents less than 0.005%.

(7) Operations commenced during 2014 (See Note 1 in Notes to Financial Statements).

(8) Subsequent to commencement of operations, the American Funds IS Global Growth Fund Class 4, American Funds IS International Growth and Income Fund Class 4, American Funds IS Managed Risk Asset Allocation Fund Class P2, American Funds IS New World Fund Class 4, and American Funds IS U.S. Government/AAA-Rated Securities Fund Class 4 Variable Accounts received their annual distributions. The annualized investment income ratios were 10.37%, 19.90%, 10.00%, 14.52%, and 10.91%, respectively. Prior to annualization, the ratios were 0.94%, 1.48%, 1.14%, 1.30%, and 0.98%, respectively.

(9) Subsequent to commencement of operations, the Fidelity VIP Strategic Income Service Class 2 Variable Account received its annual distribution. The annualized investment income ratio was 36.87%. Prior to annualization, the ratio was 3.74%.

(10) The Schwab Money Market Variable Account commenced operations during 2014 and all units were fully redeemed or transferred prior to December 31, 2014 (See Note 1 in Notes to Financial Statements). The AUV is as of period ended as indicated. The investment income ratio and total return were calculated for the period indicated and the total return is not annualized for the period less than one full year.

See Notes to Financial Statements

H-40

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS

1. ORGANIZATION

    The Separate Account A (the “Separate Account”) of Pacific Life Insurance Company (“Pacific Life”) is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and as of December 31, 2014 is comprised of one hundred and three subaccounts (“Variable Accounts”). The Variable Accounts with no units outstanding throughout 2014 are not presented in this annual report. The assets in each of the Variable Accounts invest in the corresponding portfolios or funds (each, a “Portfolio” and collectively, the “Portfolios”) of Pacific Select Fund (see Note 4), AIM Variable Insurance Funds (Invesco Variable Insurance Funds), American Century Variable Portfolios, Inc., American Funds Insurance Series, BlackRock Variable Series Funds, Inc., Fidelity Variable Insurance Products Funds, First Trust Variable Insurance Trust, Franklin Templeton Variable Insurance Products Trust, GE Investments Funds, Inc., Ivy Funds Variable Insurance Portfolios, Janus Aspen Series, JPMorgan Insurance Trust, Lord Abbett Series Fund, Inc., MFS Variable Insurance Trust, PIMCO Variable Insurance Trust, Prudential Series Fund, Inc., Schwab VIT Portfolios, and Van Eck VIP Trust (collectively, the “Funds”).

    Each Portfolio pursues different investment objectives and policies. The financial statements of the Funds, including the schedules of investments, are either included in Sections A through F of this brochure or provided separately and should be read in conjunction with the Separate Account’s financial statements.

    The following eight Variable Accounts and their underlying Portfolios changed names during the reporting period as follows:

Currently Named	Formerly Named
Inflation Strategy	Inflation Protected
Focused Growth	Focused 30
Franklin Founding Funds Allocation VIP Class 2	Franklin Templeton VIP Founding Funds Allocation Class 2
Franklin Founding Funds Allocation VIP Class 4	Franklin Templeton VIP Founding Funds Allocation Class 4
Franklin Mutual Global Discovery VIP Class 2	Mutual Global Discovery Securities Class 2
Franklin Rising Dividends VIP Class 2	Franklin Rising Dividends Securities Class 2
Templeton Global Bond VIP Class 2	Templeton Global Bond Securities Class 2
PIMCO Global Multi-Asset Managed Allocation - Advisor Class	PIMCO Global Multi-Asset - Advisor Class

The following sixteen Variable Accounts commenced or resumed operations during 2014:

Variable Accounts	Commenced or Resumed Operations on	Variable Accounts	Commenced or Resumed Operations on
Invesco V.I Equity and Income Series II	May 6, 2014	BlackRock iShares Dynamic Fixed Income V.I. Class I	May 5, 2014
American Funds IS Asset Allocation Fund Class 4	May 13, 2014	BlackRock iShares Equity Appreciation V.I. Class I	May 7, 2014
American Funds IS Capital Income Builder Class 4	May 1, 2014	Fidelity VIP Money Market Service Class	April 30, 2014
American Funds IS Growth Fund Class 4	May 13, 2014	First Trust Multi Income Allocation Class I	May 14, 2014
American Funds IS Growth-Income Fund Class 4	May 19, 2014	Ivy Funds VIP Asset Strategy	May 9, 2014
American Funds IS International Fund Class 4	May 13, 2014	Janus Aspen Series Flexible Bond Service Shares	May 6, 2014
BlackRock iShares Alternative Strategies V.I. Class I	May 1, 2014	PIMCO All Asset All Authority - Advisor Class	May 9, 2014
BlackRock iShares Dynamic Allocation V.I. Class I	May 9, 2014	Schwab VIT Money Market	March 18, 2014

    The units in the Schwab VIT Money Market Variable Account were fully redeemed or transferred prior to December 31, 2014.

    On November 15, 2013, the net assets of the Class B Shares of the AllianceBernstein VPS Balanced Wealth Strategy Portfolio, the underlying portfolio for the AllianceBernstein VPS Balanced Wealth Strategy Class B Variable Account, were transferred to the Service Shares of the Janus Aspen Series Balanced Portfolio, the underlying portfolio for the Janus Aspen Series Balanced Service Shares Variable Account through a plan of substitution (the “2013 Substitution”). In connection with the 2013 Substitution, any units that remained in the AllianceBernstein VPS Balanced Wealth Strategy Class B Variable Account after the close of business on November 15, 2013 were transferred to the Janus Aspen Series Balanced Service Shares Variable Account. Such transfers were based on the applicable Variable Account accumulation unit values and the relative net assets values of the Janus Aspen Series Balanced Portfolio and AllianceBernstein VPS Balanced Wealth Strategy Portfolio, as of the close of business on November 15, 2013. The AllianceBernstein VPS Balanced Wealth Strategy Class B Variable Account is not included in this annual report.

    On April 30, 2014, the net assets of the Pacific Select Fund’s Cash Management Portfolio Class I, the underlying Portfolio for the Cash Management Variable Account, were transferred to the Fidelity VIP Money Market Portfolio Service Class, the underlying Portfolio for the Fidelity VIP Money Market Service Class Variable Account through a liquidation and plan of substitution (the “2014 Substitution”). In connection with the 2014 Substitution, any units that remained in the Cash Management Variable Account after the close of business on April 30, 2014 were transferred to the Fidelity VIP Money Market Service Class Variable Account. Such transfers were based on the applicable Variable Account accumulation unit values and the relative net asset value of the Fidelity VIP Money Market Portfolio and Cash Management Portfolio, as of the close of business on April 30, 2014. The Cash Management Variable Account is not included in this annual report.

    On December 10, 2014, the JPMorgan Insurance Trust Mid Cap Growth Class 1, JPMorgan Insurance Trust Equity Index Class 1, and JPMorgan Insurance Trust Intrepid Growth Class 1 Variable Accounts were liquidated. Because these variable accounts were liquidated prior to December 31, 2014, no other information for these Variable Accounts is presented in this annual report.

I-1

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the other assets and liabilities of Pacific Life. The assets of the Separate Account will not be charged with any liabilities arising out of any other business conducted by Pacific Life, but the obligations of the Separate Account, including benefits related to variable annuity contracts, are obligations of Pacific Life.

The Separate Account funds individual flexible premium variable accumulation deferred annuity contracts (the “Contracts”). The investments of the Separate Account are carried at fair value.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies followed by the Separate Account in the preparation of its financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. The Separate Account qualifies as an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to Investment Companies Topic of U.S. GAAP.

A. Valuation of Investments

Investments in shares of the Portfolios are valued at the reported net asset values of the respective Portfolios. Valuation of securities held by the Funds is discussed in the notes to their financial statements.

B. Security Transactions and Income

Transactions are recorded on the trade date. Realized gains and losses on sales of investments are determined on the basis of identified cost. Dividends and capital gains distributions, if any, from mutual fund investments are recorded on the ex-dividend date.

C. Federal Income Taxes

The operations of the Separate Account will be reported on the Federal income tax return of Pacific Life, which is taxed as a life insurance company under the provisions of the Internal Revenue Code. Under current tax law, no Federal income taxes are expected to be paid by Pacific Life with respect to the operations of the Separate Account. Pacific Life will periodically review the status of this policy in the event of changes in the tax law. A charge may be made in future years for any Federal income taxes that would be attributable to the Contracts.

D. Contracts in Payout Period

Net assets allocated to Contracts in payout period are computed, on a current basis, according to the Annuity 2000 Mortality Table or 2012 IAR Mortality Table depending on the year of annuitization. The assumed investment return is 4.0 or 5.0 percent depending on the product. The mortality risk is fully borne by Pacific Life and may result in additional amounts being transferred into the Variable Accounts by Pacific Life to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed the amounts required, transfers may be made to Pacific Life. These transfers, if any, are shown as adjustments to net assets allocated to contracts in payout (annuitization) period in the accompanying Statements of Changes in Net Assets.

3. DIVIDENDS AND DISTRIBUTIONS FROM MUTUAL FUND INVESTMENTS

All dividends and capital gains distributions, if any, received from the Portfolios of the Underlying Funds are reinvested in additional full and fractional shares of the related Portfolios and are recorded by the Variable Accounts on the ex-dividend date.

Currently each of the Portfolios in the Pacific Select Fund is either qualified as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code (the “Code”) (the “RIC Portfolios”) or treated as a partnership for Federal income tax purposes only (the “Partnership Portfolios”). Each of the RIC Portfolios utilized the consent dividend provision of section 565 of the Code to effectively distribute income and capital gains for tax purposes although they are not paid by the RIC Portfolios. In addition, the Partnership Portfolios are not required to distribute taxable income and capital gains for Federal income tax purposes. No dividends and capital gains distributions were received from any Portfolios in the Pacific Select Fund nor were they recorded by the applicable Variable Accounts in the Statements of Operations for the year ended December 31, 2014.

4. CHARGES AND EXPENSES AND RELATED PARTY TRANSACTIONS

    Contracts funded by the Separate Account currently being sold or administered include the Pacific One, Pacific Portfolios, Pacific Value, Pacific Innovations, Pacific One Select, Pacific Innovations Select, Pacific Value Edge, Pacific Voyages, Pacific Value Select, Pacific Destinations, Pacific Destinations O - Series, Pacific Destinations B, Pacific Journey, Pacific Odyssey, Schwab Retirement Income Variable Annuity, Pacific Choice, and Pacific Journey Select Contracts. Pacific Value, Pacific Innovations, Pacific One Select (issued prior to August 1, 2006), Pacific Innovations Select, Pacific Odyssey Contracts have three different death benefit options: the Standard Death Benefit, the Stepped-Up Death Benefit Rider, and for Contracts issued before May 1, 2003, the Premier Death Benefit Rider. Pacific One, Pacific Portfolios, Pacific One Select (issued on or after August 1, 2006), Pacific Value Edge, Pacific Voyages, Pacific Value Select, Pacific Destinations B, and Pacific Journey Contracts have two different death benefit options: the Standard Death Benefit and the Stepped-Up Death Benefit Rider. Pacific Destinations and Pacific Destinations O - Series have three death benefit options: the Standard Death Benefit, Stepped-Up Death Benefit Rider, and Stepped-Up Death Benefit II Rider. Schwab Retirement Income Variable Annuity Contracts have three death benefit options: the Standard Death Benefit, Return of Purchase Payments Death Benefit Rider, and Stepped-Up Death Benefit Rider. Pacific Choice Contracts have six different options: the Standard Death Benefit for 5 Year, 3 Year, and 0 Year Options (excludes Stepped-Up Death Benefit II Rider) and the Stepped-Up Death Benefit II Rider for 5 Year, 3 Year, and 0 Year Options. Pacific Journey Select Contracts have four different options: Without Stepped-Up Death Benefit Rider and Four Year Withdrawal Charge Option (includes Standard Death Benefit), With Stepped-Up Death Benefit Rider Only, With Four Year Withdrawal Charge Option Only (includes Standard Death Benefit), and With Stepped-Up Death Benefit and Four Year Withdrawal Charge Option.

Pacific Life deducts from the Separate Account daily charges for mortality and expense risks (“M&E”) and administrative fees Pacific Life assumes, additional death benefit rider charges for Contract owners who purchased the Stepped-Up Death Benefit Riders, the Premier Death Benefit Riders, and an additional charge for Contract owners who purchased the Four Year Withdrawal Charge Option. The withdrawal charge

I-2

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

option and the additional death benefit rider charges are included in M&E in the accompanying Statements of Operations. The mortality risk assumed by Pacific Life is the risk that the annuitant will live longer than predicted and will receive more annuity payments than anticipated. Pacific Life also assumes mortality risk in connection with any death benefit paid under the Contracts. The expense risk assumed is where expenses incurred in administering the Contracts and the Separate Account will exceed the amounts realized from fees and charges assessed against the Contracts. These charges are assessed daily at the following annual rates on the average daily net assets of each Variable Account that result in a direct reduction in unit values:

	Death Benefit Options
Pacific One and Pacific Portfolios Contracts	Standard Death Benefit	With Stepped-Up Death Benefit Rider	With Premier Death Benefit Rider
M&E Charge	1.25%	1.25%
Administrative Fee	0.15%	0.15%
Death Benefit Rider Charge	None	0.20%
Total Annual Expenses	1.40%	1.60%
Pacific Value and Pacific Innovations Contracts
M&E Charge	1.25%	1.25%	1.25%
Administrative Fee	0.15%	0.15%	0.15%
Death Benefit Rider Charge	None	0.20%	0.35%
Total Annual Expenses	1.40%	1.60%	1.75%
Pacific One Select (issued prior to 8/1/2006) and Pacific Innovations Select Contracts
M&E Charge	1.40%	1.40%	1.40%
Administrative Fee	0.25%	0.25%	0.25%
Death Benefit Rider Charge	None	0.20%	0.35%
Total Annual Expenses	1.65%	1.85%	2.00%
Pacific One Select (issued on or after 8/1/2006) and Pacific Value Edge Contracts
M&E Charge	1.50%	1.50%
Administrative Fee	0.25%	0.25%
Death Benefit Rider Charge	None	0.20%
Total Annual Expenses	1.75%	1.95%
Pacific Voyages Contracts
M&E Charge	1.00%	1.00%
Administrative Fee	0.15%	0.15%
Death Benefit Rider Charge	None	0.20%
Total Annual Expenses	1.15%	1.35%
Pacific Value Select Contracts
M&E Charge	1.45%	1.45%
Administrative Fee	0.15%	0.15%
Death Benefit Rider Charge	None	0.20%
Total Annual Expenses	1.60%	1.80%

	Death Benefit Options
Pacific Destinations B Contracts	Standard Death Benefit	With Stepped-Up Death Benefit Rider	With Premier Death Benefit Rider
M&E Charge	1.15%	1.15%
Administrative Fee	0.15%	0.15%
Death Benefit Rider Charge	None	0.20%
Total Annual Expenses	1.30%	1.50%
Pacific Journey Contracts
M&E Charge	0.90%	0.90%
Administrative Fee	0.15%	0.15%
Death Benefit Rider Charge	None	0.20%
Total Annual Expenses	1.05%	1.25%
Pacific Odyssey Contracts
M&E Charge	0.15%	0.15%		0.15	%
Administrative Fee	0.25%	0.25%		0.25	%
Death Benefit Rider Charge	None	0.20%		0.35	%
Total Annual Expenses	0.40%	0.60%		0.75	%

Schwab Retirement Income Variable Annuity Contracts	Standard Death Benefit	With Return of Purchase Payments Death Benefit Rider	With Stepped-Up Death Benefit Rider
M&E Charge	0.35%	0.35%	0.35%
Administrative Fee	0.25%	0.25%	0.25%
Death Benefit Rider Charge	None	0.20%	0.40%
Total Annual Expenses	0.60%	0.80%	1.00%
Pacific Choice Contracts (Without Stepped-Up Death Benefit II Rider Charge)	Standard Death Benefit With 5 Year Option	Standard Death Benefit With 3 Year Option	Standard Death Benefit With 0 Year Option
M&E Charge	0.95%	1.25%	1.35%
Administrative Fee	0.25%	0.25%	0.25%
Total Annual Expenses	1.20%	1.50%	1.60%
Pacific Choice Contracts (With Stepped-Up Death Benefit II Rider Charge)	Stepped-Up Death Benefit With 5 Year Option	Stepped-Up Death Benefit With 3 Year Option	Stepped-Up Death Benefit With 0 Year Option
M&E Charge	0.95%	1.25%	1.35%
Administrative Fee	0.25%	0.25%	0.25%
Death Benefit Rider Charge	0.20%	0.20%	0.20%
Total Annual Expenses	1.40%	1.70%	1.80%

Pacific Destinations and Pacific Destination O - Series Contracts	Standard Death Benefit			With Stepped-Up Death Benefit Rider or Stepped-Up Death Benefit II Rider			Pacific Journey Select Contracts	Without Stepped-Up Death Benefit Rider and Four Year Withdrawal Charge Option			With Stepped-Up Death Benefit Rider Only			With Four Year Withdrawal Charge Option Only			With Stepped-Up Death Benefit Rider and Four Year Withdrawal Charge Option
M&E Charge		0.60	%		0.60	%	M&E Charge		0.95	%		0.95	%		0.95	%		0.95	%
Administrative Fee		0.15	%		0.15	%	Administrative Fee		0.15	%		0.15	%		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%	Death Benefit Rider Charge		None			0.20	%		None			0.20	%
Total Annual Expenses		0.75	%		0.95	%	Four Year Withdrawal Charge		None			None			0.35	%		0.35	%
							Total Annual Expenses		1.10	%		1.30	%		1.45	%		1.65	%

I-3

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

Under the Contracts, Pacific Life makes certain deductions from the net assets of each Variable Account through a redemption of units for maintenance fees, any other optional benefit riders, any state premium taxes, and any withdrawal and surrender charges, and are shown as a decrease in Contract owner transactions in the accompanying Statements of Changes in Net Assets. For some Contracts, a surrender charge is imposed if the Contract is partially or fully surrendered within the specified surrender charge period and charges will vary depending on the individual Contracts. Most Contracts offer optional benefits that can be added to the Contract by rider. The charges for riders can range depending on the individual Contract. These fees and charges are assessed directly to each Contract owner account through a redemption of units. Withdrawal and surrender charges are included in surrenders; and maintenance fees, any other optional benefit riders and state premium taxes are included in Contract charges and deductions in the accompanying Statements of Changes in Net Assets. The operating expenses of the Separate Account are paid by Pacific Life and are not reflected in the accompanying financial statements.

In addition to the Separate Account’s own operating expenses, they also indirectly bear a portion of the operating expens of the applicable Portfolios in which the Variable Accounts invest.

The assets of certain Variable Accounts invest in Class I shares of the corresponding Portfolios of Pacific Select Fund (“PSF”). Each Portfolio of PSF pays an advisory fee to Pacific Life Fund Advisors, LLC (“PLFA”), a wholly-owned subsidiary of Pacific Life, pursuant to PSF’s Investment Advisory Agreement and pays a class-specific service fee to Pacific Select Distributors, Inc. (“PSD”), also a wholly-owned subsidiary of Pacific Life, for providing shareholder servicing activities under PSF’s Service Plan. Each Portfolio of PSF also compensates Pacific Life and PLFA on an approximate cost basis pursuant to PSF’s Agreement for Support Services for providing services to PSF that are outside the scope of the Investment Adviser’s responsibilities under the Investment Advisory Agreement. The advisory fee and service fee rates are disclosed in Note 6 in Notes to Financial Statements of PSF, which are included in Section D of this brochure. For the year ended December 31, 2014, PLFA received net advisory fees from the corresponding Portfolios of PSF at effective annual rates ranging from 0.05% to 0.95%, which are based on an annual percentage of average daily net assets of the Portfolios, and PSD received a service fee of 0.20% on Class I shares only, which is based on an annual percentage of average daily net assets of the Portfolios.

5. RELATED PARTY AGREEMENT

PSD serves as principal underwriter of the Contracts funded by interests in the Separate Account, without remuneration from the Separate Account.

6. PURCHASES AND SALES OF INVESTMENTS

The cost of purchases and proceeds from sales of investments for the year or period ended December 31, 2014, were as follows:

Variable Accounts	Purchases		Sales
Diversified Bond		$64,013,137		$43,757,500
Floating Rate Income		28,812,964		15,970,756
Floating Rate Loan		34,995,795		45,153,563
High Yield Bond		115,410,299		146,240,104
Inflation Managed		29,695,774		83,858,634
Inflation Strategy		7,458,243		6,744,497
Managed Bond		55,417,851		132,877,969
Short Duration Bond		109,700,036		50,005,552
Emerging Markets Debt		6,371,561		5,607,862
American Funds Growth		50,954,242		34,723,358
American Funds Growth-Income		60,020,006		43,872,558
Comstock		54,481,881		48,179,819
Dividend Growth		53,167,982		30,873,345
Equity Index		117,268,847		62,019,350
Focused Growth		19,667,682		27,014,123
Growth		15,082,004		42,317,077
Large-Cap Growth		31,937,283		39,638,835
Large-Cap Value		28,658,259		60,322,426
Long/Short Large-Cap		20,540,236		10,255,993
Main Street Core		33,276,257		54,107,404
Mid-Cap Equity		24,832,413		47,492,069
Mid-Cap Growth		42,256,996		37,340,142
Mid-Cap Value		30,889,879		42,481,517
Small-Cap Equity		12,353,377		15,931,807
Small-Cap Growth		32,087,302		33,879,027
Small-Cap Index		26,399,050		55,574,522
Small-Cap Value		18,131,576		23,690,223
Value Advantage		17,489,811		6,524,717
Health Sciences		70,202,868		63,463,361
Real Estate		53,723,664		44,609,466
Technology		23,457,576		20,442,999
Emerging Markets		51,530,751		60,926,615
International Large-Cap		54,917,201		40,120,152
International Small-Cap		12,983,025		14,797,614
International Value		15,820,429		22,875,833

Variable Accounts	Purchases		Sales
Currency Strategies		$2,495,568		$1,228,903
Global Absolute Return		5,139,626		3,030,853
Precious Metals		17,259,113		11,915,045
American Funds Asset Allocation		534,523,260		152,127,208
Pacific Dynamix - Conservative Growth		108,768,821		43,669,076
Pacific Dynamix - Moderate Growth		399,791,875		74,290,743
Pacific Dynamix - Growth		128,251,830		55,793,532
Portfolio Optimization Conservative		240,280,101		723,010,793
Portfolio Optimization Moderate-Conservative		162,957,454		668,508,992
Portfolio Optimization Moderate		406,389,376		2,111,738,175
Portfolio Optimization Growth		156,401,291		1,788,979,661
Portfolio Optimization Aggressive-Growth		67,996,830		420,247,309
Invesco V.I. Balanced-Risk Allocation Series II		92,221,599		94,093,679
Invesco V.I. Equity and Income Series II (1)		10,436,555		4,088,612
American Century VP Mid Cap Value Class II		28,855,781		6,329,634
American Funds IS Asset Allocation Fund Class 4 (1)		12,967,341		158,855
American Funds IS Capital Income Builder Class 4 (1)		18,592,827		1,298,888
American Funds IS Global Growth Fund Class 4		16,532,206		1,558,303
American Funds IS Growth Fund Class 4 (1)		4,043,658		157,243
American Funds IS Growth-Income Fund Class 4 (1)		8,193,970		159,926
American Funds IS International Fund Class 4 (1)		10,126,959		847,406
American Funds IS International Growth and Income Fund Class 4		20,027,407		1,453,821
American Funds IS Managed Risk Asset Allocation Fund Class P2		32,438,725		6,798,047
American Funds IS New World Fund Class 4		16,009,413		3,329,525
American Funds IS U.S. Government/AAA-Rated Securities Fund Class 4		41,710,144		21,612,018
BlackRock Capital Appreciation V.I. Class III		7,447,112		5,103,651
BlackRock Global Allocation V.I. Class III		528,088,968		262,919,949
BlackRock iShares Alternative Strategies V.I. Class I (1)		4,801,775		429,129
BlackRock iShares Dynamic Allocation V.I. Class I (1)		5,397,414		245,130
BlackRock iShares Dynamic Fixed Income V.I. Class I (1)		4,393,321		1,309,741

I-4

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

Variable Accounts	Purchases		Sales
BlackRock iShares Equity Appreciation V.I. Class I (1)		$3,378,004		$67,475
Fidelity VIP Contrafund Service Class 2		52,772,858		12,926,343
Fidelity VIP FundsManager 60% Service Class 2		64,240,627		12,408,600
Fidelity VIP Money Market Service Class (1)		504,835,090		261,896,794
Fidelity VIP Strategic Income Service Class 2		20,525,753		3,447,860
First Trust/Dow Jones Dividend & Income Allocation Class I		80,302,788		14,407,867
First Trust Multi Income Allocation Class I (1)		5,045,653		342,865
Franklin Founding Funds Allocation VIP Class 2		4,565,346		747,917
Franklin Founding Funds Allocation VIP Class 4		130,833,376		94,282,780
Franklin Mutual Global Discovery VIP Class 2		81,197,153		12,929,451
Franklin Rising Dividends VIP Class 2		54,196,995		15,394,251
Templeton Global Bond VIP Class 2		43,776,107		9,150,162
GE Investments Total Return Class 3		78,291,791		52,875,778
Ivy Funds VIP Asset Strategy (1)		10,950,988		469,555
Janus Aspen Series Balanced Service Shares		320,028,672		33,366,380
Janus Aspen Series Flexible Bond Service Shares (1)		9,983,666		1,374,693
JPMorgan Insurance Trust Core Bond Class 1		52,999		58,461
JPMorgan Insurance Trust Mid Cap Value Class 1		93,788		92,201
JPMorgan Insurance Trust U.S. Equity Class 1		1,927		7,665
Lord Abbett Bond Debenture Class VC		32,417,722		10,632,284

Variable Accounts	Purchases		Sales
Lord Abbett International Core Equity Class VC		$27,685,570		$474,338
Lord Abbett Total Return Class VC		101,311,522		6,611,468
MFS Investors Growth Stock Series - Service Class		32,167,591		494,869
MFS Total Return Series - Service Class		121,567,910		38,048,716
MFS Utilities Series - Service Class		47,592,745		17,450,967
MFS Value Series - Service Class		20,749,390		1,714,179
PIMCO All Asset All Authority - Advisor Class (1)		3,234,805		409,163
PIMCO CommodityRealReturn Strategy - Advisor Class		6,426,899		4,114,207
PIMCO Global Multi-Asset Managed Allocation - Advisor Class		23,009,614		112,969,641
Jennison Class II		-		29,359
SP International Growth Class II		-		5,641
SP Prudential U.S. Emerging Growth Class II		-		6,738
Value Class II		-		26,809
Schwab VIT Balanced		18,129,795		4,291,790
Schwab VIT Balanced with Growth		28,332,587		3,824,135
Schwab VIT Growth		31,666,767		4,132,917
Schwab VIT Money Market (2)		1,455,404		1,455,404
Van Eck VIP Global Hard Assets Class S		10,111,258		4,297,189

  (1) Operations commenced during 2014 (See Note 1).

  (2) Operations commenced during 2014 and all units were fully redeemed or transferred prior to December 31, 2014 (See Note 1).

7. FAIR VALUE MEASUREMENTS

The Separate Account characterizes its holdings in Variable Accounts as Level 1, Level 2 or Level 3 based upon the various inputs or methodologies used to value the holdings. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 –	Quoted prices (unadjusted) in active markets for identical holdings
Level 2 –	Significant observable market-based inputs, other than Level 1 quoted prices, or unobservable inputs that are corroborated by market data
Level 3 –	Significant unobservable inputs that are not corroborated by observable market data

The inputs or methodologies used for valuing the Variable Accounts’ holdings are not necessarily an indication of risks associated with investing in those holdings. As of December 31, 2014, the Variable Accounts’ holdings as presented in the Schedule of Investments in Section G of this brochure were all categorized as Level 1 under the three-tier hierarchy of inputs.

8. CHANGES IN UNITS OUTSTANDING

The changes in units outstanding for the year or period ended December 31, 2014 and 2013 were as follows:

	2014								2013
Variable Accounts	Units Issued		Units Redeemed			Net Increase (Decrease)			Units Issued		Units Redeemed			Net Increase (Decrease)
Diversified Bond		6,021,187		(4,107,587	)		1,913,600			2,593,037		(3,173,620	)		(580,583	)
Floating Rate Income (1)		2,946,468		(1,655,214	)		1,291,254			1,957,437		(378,481	)		1,578,956
Floating Rate Loan		4,358,836		(5,292,301	)		(933,465	)		10,253,047		(4,956,829	)		5,296,218
High Yield Bond		8,113,522		(8,929,522	)		(816,000	)		8,378,135		(8,888,097	)		(509,962	)
Inflation Managed		2,873,363		(5,165,440	)		(2,292,077	)		4,924,320		(9,158,573	)		(4,234,253	)
Inflation Strategy		807,405		(692,760	)		114,645			1,090,515		(1,190,232	)		(99,717	)
Managed Bond		5,492,752		(7,893,770	)		(2,401,018	)		7,697,639		(11,387,787	)		(3,690,148	)
Short Duration Bond		12,254,699		(6,123,058	)		6,131,641			15,088,803		(8,352,616	)		6,736,187
Emerging Markets Debt		687,738		(589,759	)		97,979			1,395,923		(783,097	)		612,826
American Funds Growth		4,285,035		(2,520,079	)		1,764,956			3,089,232		(2,702,899	)		386,333
American Funds Growth-Income		4,965,835		(3,297,539	)		1,668,296			3,945,408		(3,380,275	)		565,133
Comstock		4,271,066		(3,752,325	)		518,741			6,397,949		(3,371,262	)		3,026,687
Dividend Growth		4,408,907		(2,573,498	)		1,835,409			5,060,804		(2,942,369	)		2,118,435
Equity Index		8,632,904		(3,503,066	)		5,129,838			5,930,326		(3,442,390	)		2,487,936
Focused Growth		1,392,938		(1,638,946	)		(246,008	)		1,517,883		(2,286,752	)		(768,869	)
Growth		1,050,808		(1,721,210	)		(670,402	)		1,037,986		(1,726,579	)		(688,593	)
Large-Cap Growth		3,158,151		(3,884,573	)		(726,422	)		3,664,677		(4,952,265	)		(1,287,588	)
Large-Cap Value		2,428,357		(3,744,274	)		(1,315,917	)		3,372,536		(3,722,949	)		(350,413	)
Long/Short Large-Cap		1,537,959		(808,336	)		729,623			1,024,415		(771,413	)		253,002
Main Street Core		2,519,888		(2,697,671	)		(177,783	)		1,661,541		(3,039,434	)		(1,377,893	)
Mid-Cap Equity		1,621,260		(2,203,232	)		(581,972	)		2,099,363		(2,993,441	)		(894,078	)
Mid-Cap Growth		3,574,962		(3,015,635	)		559,327			4,146,472		(4,078,056	)		68,416
Mid-Cap Value		2,153,792		(2,324,415	)		(170,623	)		3,753,544		(1,916,275	)		1,837,269
Small-Cap Equity		844,177		(867,829	)		(23,652	)		1,594,814		(1,158,629	)		436,185
Small-Cap Growth		2,536,864		(2,429,888	)		106,976			3,021,747		(1,970,255	)		1,051,492

I-5

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	2014								2013
Variable Accounts	Units             Issued		Units     Redeemed			Net Increase     (Decrease)			Units             Issued		Units     Redeemed			Net Increase     (Decrease)
Small-Cap Index		2,015,944		(2,880,454	)		(864,510	)		3,273,707		(2,967,754	)		305,953
Small-Cap Value		1,219,707		(1,069,920	)		149,787			1,822,436		(1,466,623	)		355,813
Value Advantage (2)		1,457,487		(548,275	)		909,212			319,952		(23,328	)		296,624
Health Sciences		3,763,426		(2,823,109	)		940,317			3,371,242		(2,291,636	)		1,079,606
Real Estate		3,609,815		(2,326,183	)		1,283,632			2,307,138		(2,004,777	)		302,361
Technology		2,579,119		(2,365,627	)		213,492			2,137,697		(2,151,362	)		(13,665	)
Emerging Markets		2,865,334		(2,461,699	)		403,635			2,396,719		(2,451,182	)		(54,463	)
International Large-Cap		5,032,726		(3,661,414	)		1,371,312			5,211,087		(4,799,045	)		412,042
International Small-Cap		1,376,725		(1,511,710	)		(134,985	)		1,871,574		(1,715,479	)		156,095
International Value		1,971,674		(2,294,563	)		(322,889	)		1,907,190		(2,784,035	)		(876,845	)
Currency Strategies		251,984		(122,493	)		129,491			388,207		(176,934	)		211,273
Global Absolute Return		532,862		(303,195	)		229,667			838,805		(320,910	)		517,895
Precious Metals		3,341,273		(2,586,892	)		754,381			2,132,420		(1,028,257	)		1,104,163
American Funds Asset Allocation		46,276,313		(14,417,489	)		31,858,824			56,108,331		(7,692,919	)		48,415,412
Pacific Dynamix - Conservative Growth		9,975,672		(3,639,608	)		6,336,064			10,788,390		(5,542,791	)		5,245,599
Pacific Dynamix - Moderate Growth		37,368,444		(8,150,344	)		29,218,100			38,165,008		(8,583,937	)		29,581,071
Pacific Dynamix - Growth		10,332,470		(4,081,145	)		6,251,325			9,169,546		(2,608,232	)		6,561,314
Portfolio Optimization Conservative		40,806,070		(80,980,973	)		(40,174,903	)		59,190,784		(146,142,212	)		(86,951,428	)
Portfolio Optimization Moderate-Conservative		28,524,242		(67,594,888	)		(39,070,646	)		58,022,831		(102,495,891	)		(44,473,060	)
Portfolio Optimization Moderate		83,415,005		(209,103,332	)		(125,688,327	)		152,480,242		(226,509,602	)		(74,029,360	)
Portfolio Optimization Growth		46,617,412		(167,447,460	)		(120,830,048	)		67,508,962		(166,524,123	)		(99,015,161	)
Portfolio Optimization Aggressive-Growth		12,106,349		(38,068,734	)		(25,962,385	)		16,034,397		(37,126,189	)		(21,091,792	)
Invesco V.I. Balanced-Risk Allocation Series II		6,888,381		(7,060,399	)		(172,018	)		14,101,411		(14,486,880	)		(385,469	)
Invesco V.I. Equity and Income Series II (3)		992,810		(396,343	)		596,467
American Century VP Mid Cap Value Class II (4)		2,146,260		(519,918	)		1,626,342			1,009,154		(356,208	)		652,946
American Funds IS Asset Allocation Fund Class 4 (3)		1,251,891		(17,543	)		1,234,348
American Funds IS Capital Income Builder Class 4 (3)		1,838,461		(129,530	)		1,708,931
American Funds IS Global Growth Fund Class 4 (5)		1,528,787		(172,633	)		1,356,154			75,875		(7,805	)		68,070
American Funds IS Growth Fund Class 4 (3)		381,602		(14,963	)		366,639
American Funds IS Growth-Income Fund Class 4 (3)		765,675		(15,454	)		750,221
American Funds IS International Fund Class 4 (3)		1,007,670		(88,949	)		918,721
American Funds IS International Growth and Income Fund Class 4 (5)		1,911,897		(138,282	)		1,773,615			67,588		(14,033	)		53,555
American Funds IS Managed Risk Asset Allocation Fund Class P2 (6)		3,149,912		(636,392	)		2,513,520			368,356		(540	)		367,816
American Funds IS New World Fund Class 4 (5)		1,495,307		(318,260	)		1,177,047			60,034		(1,355	)		58,679
American Funds IS U.S. Government/AAA-Rated Securities Fund Class 4 (5)		4,126,108		(2,176,010	)		1,950,098			40,211		(2,697	)		37,514
BlackRock Capital Appreciation V.I. Class III		172,629		(393,294	)		(220,665	)		1,038,395		(389,611	)		648,784
BlackRock Global Allocation V.I. Class III		35,288,663		(30,248,005	)		5,040,658			45,442,118		(29,528,283	)		15,913,835
BlackRock iShares Alternative Strategies V.I. Class I (3)		463,655		(41,090	)		422,565
BlackRock iShares Dynamic Allocation V.I. Class I (3)		530,661		(23,095	)		507,566
BlackRock iShares Dynamic Fixed Income V.I. Class I (3)		432,002		(125,176	)		306,826
BlackRock iShares Equity Appreciation V.I. Class I (3)		332,685		(7,762	)		324,923
Fidelity VIP Contrafund Service Class 2 (7)		4,139,593		(1,123,723	)		3,015,870			2,585,774		(278,451	)		2,307,323
Fidelity VIP FundsManager 60% Service Class 2		5,550,874		(1,326,896	)		4,223,978			5,091,812		(490,309	)		4,601,503
Fidelity VIP Money Market Service Class (3)		58,046,397		(33,512,918	)		24,533,479
Fidelity VIP Strategic Income Service Class 2 (8)		1,965,372		(359,189	)		1,606,183			99,873		(246	)		99,627
First Trust/Dow Jones Dividend & Income Allocation Class I		7,272,420		(1,579,934	)		5,692,486			6,813,452		(1,099,762	)		5,713,690
First Trust Multi Income Allocation Class I (3)		488,449		(29,685	)		458,764
Franklin Founding Funds Allocation VIP Class 2		305,340		(53,207	)		252,133			204,572		(56,458	)		148,114
Franklin Founding Funds Allocation VIP Class 4		12,179,595		(9,693,496	)		2,486,099			12,287,422		(5,248,737	)		7,038,685
Franklin Mutual Global Discovery VIP Class 2		5,681,172		(1,547,394	)		4,133,778			5,760,067		(772,344	)		4,987,723
Franklin Rising Dividends VIP Class 2 (4)		4,465,489		(1,359,927	)		3,105,562			3,814,900		(612,374	)		3,202,526
Templeton Global Bond VIP Class 2		4,357,389		(1,108,647	)		3,248,742			3,794,832		(843,031	)		2,951,801
GE Investments Total Return Class 3		5,758,194		(4,156,329	)		1,601,865			10,639,025		(3,816,167	)		6,822,858
Ivy Funds VIP Asset Strategy (3)		1,092,297		(44,355	)		1,047,942
Janus Aspen Series Balanced Service Shares (9)		28,170,095		(4,503,095	)		23,667,000			23,420,591		(1,506,931	)		21,913,660
Janus Aspen Series Flexible Bond Service Shares (3)		974,771		(128,262	)		846,509
JPMorgan Insurance Trust Core Bond Class 1		12		(3,523	)		(3,511	)		51		(1,377	)		(1,326	)
JPMorgan Insurance Trust Mid Cap Value Class 1		-		(1,376	)		(1,376	)		-		(655	)		(655	)
JPMorgan Insurance Trust U.S. Equity Class 1		74		(355	)		(281	)		59		(322	)		(263	)
Lord Abbett Bond Debenture Class VC (7)		2,828,987		(1,033,017	)		1,795,970			2,601,395		(800,411	)		1,800,984
Lord Abbett International Core Equity Class VC		2,109,822		(174,538	)		1,935,284			1,565,641		(164,047	)		1,401,594

I-6

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	2014								2013
Variable Accounts	Units             Issued		Units     Redeemed			Net Increase     (Decrease)			Units             Issued		Units     Redeemed			Net Increase     (Decrease)
Lord Abbett Total Return Class VC		10,124,038		(1,661,501	)		8,462,537			9,652,870		(478,472	)		9,174,398
MFS Investors Growth Stock Series - Service Class		2,139,474		(261,593	)		1,877,881			1,948,953		(84,394	)		1,864,559
MFS Total Return Series - Service Class		10,183,444		(3,790,112	)		6,393,332			10,195,695		(2,264,724	)		7,930,971
MFS Utilities Series - Service Class (7)		3,904,332		(1,514,765	)		2,389,567			1,482,193		(621,468	)		860,725
MFS Value Series - Service Class		1,412,622		(346,647	)		1,065,975			1,614,546		(359,130	)		1,255,416
PIMCO All Asset All Authority - Advisor Class (3)		312,499		(39,568	)		272,931
PIMCO CommodityRealReturn Strategy - Advisor Class (10)		769,623		(512,646	)		256,977			728,151		(121,684	)		606,467
PIMCO PIMCO Global Multi-Asset Managed Allocation - Advisor Class		2,834,465		(11,697,046	)		(8,862,581	)		8,827,421		(8,831,635	)		(4,214	)
Jennison Class II		-		(1,231	)		(1,231	)		-		(188	)		(188	)
SP International Growth Class II		-		(62	)		(62	)		-		(58	)		(58	)
SP Prudential U.S. Emerging Growth Class II		-		(25	)		(25	)		-		(46	)		(46	)
Value Class II		-		(1,199	)		(1,199	)		-		(918	)		(918	)
Schwab VIT Balanced		1,645,497		(417,410	)		1,228,087			2,299,773		(129,893	)		2,169,880
Schwab VIT Balanced with Growth		2,601,100		(538,598	)		2,062,502			5,960,453		(337,920	)		5,622,533
Schwab VIT Growth		2,787,549		(588,479	)		2,199,070			6,130,331		(244,748	)		5,885,583
Schwab VIT Money Market (11)		145,599		(145,599	)		-
Van Eck VIP Global Hard Assets Class S (4)		958,074		(450,690	)		507,384			549,324		(147,750	)		401,574

  (1) Operations commenced on May 2, 2013.

  (2) Operations commenced on May 8, 2013.

  (3) Operations commenced during 2014 (See Note 1).

  (4) Operations commenced on January 3, 2013.

  (5) Operations commenced on November 6, 2013.

  (6) Operations commenced on November 4, 2013.

  (7) Operations commenced on January 2, 2013.

  (8) Operations commenced on November 5, 2013.

  (9) Operations commenced on January 8, 2013.

(10) Operations commenced on January 4, 2013.

(11) Operations commenced during 2014 and all units were fully redeemed or transferred prior to December 31, 2014 (See Note 1).

I-7

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of

Pacific Life Insurance Company:

We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of Separate Account A of Pacific Life Insurance Company (the “Separate Account”) comprised of Diversified Bond, Floating Rate Income, Floating Rate Loan, High Yield Bond, Inflation Managed, Inflation Strategy (formerly named Inflation Protected), Managed Bond, Short Duration Bond, Emerging Markets Debt, American Funds^® Growth, American Funds Growth-Income, Comstock, Dividend Growth, Equity Index, Focused Growth (formerly named Focused 30), Growth, Large-Cap Growth, Large-Cap Value, Long/Short Large-Cap, Main Street^® Core, Mid-Cap Equity, Mid-Cap Growth, Mid-Cap Value, Small-Cap Equity, Small-Cap Growth, Small-Cap Index, Small-Cap Value, Value Advantage, Health Sciences, Real Estate, Technology, Emerging Markets, International Large-Cap, International Small-Cap, International Value, Currency Strategies, Global Absolute Return, Precious Metals, American Funds Asset Allocation, Pacific Dynamix - Conservative Growth, Pacific Dynamix - Moderate Growth, Pacific Dynamix - Growth, Portfolio Optimization Conservative, Portfolio Optimization Moderate-Conservative, Portfolio Optimization Moderate, Portfolio Optimization Growth, Portfolio Optimization Aggressive-Growth, Invesco V.I. Balanced-Risk Allocation Series II, Invesco V.I. Equity and Income Series II, American Century VP Mid Cap Value Class II, American Funds IS Asset Allocation Fund^SM Class 4, American Funds IS Capital Income Builder^® Class 4, American Funds IS Global Growth Fund^SM Class 4, American Funds IS Growth Fund^SM Class 4, American Funds IS Growth-Income Fund^SM Class 4, American Funds IS International Fund^SM Class 4, American Funds IS International Growth and Income Fund^SM Class 4, American Funds IS Managed Risk Asset Allocation Fund^SM Class P2, American Funds IS New World Fund^® Class 4, American Funds IS U.S. Government/AAA-Rated Securities Fund^SM Class 4, BlackRock^® Capital Appreciation V.I. Class III, BlackRock Global Allocation V.I. Class III, BlackRock iShares^® Alternative Strategies V.I. Class I, BlackRock iShares Dynamic Allocation V.I. Class I, BlackRock iShares Dynamic Fixed Income V.I. Class I, BlackRock iShares Equity Appreciation V.I. Class I, Fidelity^® VIP Contrafund^® Service Class 2, Fidelity VIP FundsManager^® 60% Service Class 2, Fidelity VIP Money Market Service Class, Fidelity VIP Strategic Income Service Class 2, First Trust/Dow Jones Dividend & Income Allocation Class I, First Trust Multi Income Allocation Class I, Franklin Founding Funds Allocation VIP Class 2 (formerly named Franklin Templeton VIP Founding Funds Allocation Class 2), Franklin Founding Funds Allocation VIP Class 4 (formerly named Franklin Templeton VIP Founding Funds Allocation Class 4), Franklin Mutual Global Discovery VIP Class 2 (formerly named Mutual Global Discovery Securities Class 2), Franklin Rising Dividends VIP Class 2 (formerly named Franklin Rising Dividends Securities Class 2), Templeton Global Bond VIP Class 2 (formerly named Templeton Global Bond Securities Class 2), GE Investments Total Return Class 3, Ivy Funds VIP Asset Strategy, Janus Aspen Series Balanced Service Shares, Janus Aspen Series Flexible Bond Service Shares, JPMorgan Insurance Trust Core Bond Class 1, JPMorgan Insurance Trust Mid Cap Value Class 1, JPMorgan Insurance Trust U.S. Equity Class 1, Lord Abbett Bond Debenture Class VC, Lord Abbett International Core Equity Class VC, Lord Abbett Total Return Class VC, MFS^® Investors Growth Stock Series - Service Class, MFS Total Return Series - Service Class, MFS Utilities Series - Service Class, MFS Value Series - Service Class, PIMCO All Asset All Authority - Advisor Class, PIMCO CommodityRealReturn^® Strategy - Advisor Class, PIMCO Global Multi-Asset Managed Allocation - Advisor Class (formerly named PIMCO Global Multi-Asset - Advisor Class), Jennison Class II, SP International Growth Class II, SP Prudential U.S. Emerging Growth Class II, Value Class II, Schwab VIT Balanced, Schwab VIT Balanced with Growth, Schwab VIT Growth, Schwab VIT Money Market, and Van Eck VIP Global Hard Assets Class S Variable Accounts (collectively, the “Variable Accounts”) as of December 31, 2014, the related statements of operations for the year or period then ended, and the statements of changes in net assets and financial highlights for each of the periods presented. These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits 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 and financial highlights are free of material misstatement. The Separate Account is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Separate Account’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also 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, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of mutual fund investments owned as of December 31, 2014 by correspondence with the transfer agents. We believe that our audits provide a reasonable basis for our opinion.

    In our opinion, such financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the respective Variable Accounts constituting Separate Account A of Pacific Life Insurance Company as of December 31, 2014, the results of their operations for the year or period then ended, and the changes in their net assets and financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America.

Costa Mesa, California

February 27, 2015

J-1

Pacific Life Insurance Company

Mailing Address:

P.O. Box 2378

Omaha, Nebraska 68103-2378

Annual Reports as of December 31, 2014 for:

• Pacific Select Fund

• Separate Account A of Pacific Life Insurance Company

Form No. 2143-15A