# EDGAR Filing Document

**Accession Number:** 0000836982
**File Stem:** 0000836982-26-000012
**Filing Date:** 2026-4
**Character Count:** 71491
**Document Hash:** cdc20d493f6aa191d36e8ac063d0d871
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000836982-26-000012.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0000836982-26-000012

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 91

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**EFFECTIVENESS DATE**: 20260423

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT A OF VENERABLE INSURANCE & ANNUITY Co
- **CENTRAL INDEX KEY:** 0000836982

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** IA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05627
- **FILM NUMBER:** 26888197

**BUSINESS ADDRESS:**
- **STREET 1:** 699 WALNUT STREET
- **STREET 2:** SUITE 1350
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50309-3942
- **BUSINESS PHONE:** 610-425-3400

**MAIL ADDRESS:**
- **STREET 1:** 699 WALNUT STREET
- **STREET 2:** SUITE 1350
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50309-3942

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT A OF VOYA INSURANCE & ANNUITY Co
- **DATE OF NAME CHANGE:** 20140902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT A OF ING USA ANNUITY & LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20040609

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT A OF GOLDEN AMERICAN LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 19930408

## Series and Classes Contracts Data

### SEPARATE ACCOUNT A OF VENERABLE INSURANCE & ANNUITY Co (Series ID: S000065582)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000212141 | GoldenSelect Genesis I VUL    |  |
| C000212142 | GoldenSelect Genesis Flex VUL |  |

**FINANCIAL STATEMENTS**

**Venerable Insurance and Annuity Company<br>Separate Account A**

***For the years ended December 31, 2025 and 2024<br>with Report of Independent Auditors***

![](fi861img002.jpg)

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Financial Statements** |
| **Year Ended December 31, 2025** |

---

**Contents**

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#chapter_2-sect1_1_861) | [1](#chapter_2-sect1_1_861) |
| [Audited Financial Statements](#chapter_4_861) |  |
| [Statements of Assets and Liabilities](#chapter_4-sect1_1_861) | [3](#chapter_4-sect1_1_861) |
| [Statements of Operations](#chapter_4-sect1_2_861) | [6](#chapter_4-sect1_2_861) |
| [Statements of Changes in Net Assets](#chapter_4-sect1_3_861) | [9](#chapter_4-sect1_3_861) |
| [Notes to Financial Statements](#chapter_5-sect1_1_861) | [15](#chapter_5-sect1_1_861) |

---

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![](fi861img004.jpg)

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![](fi861img003.jpg)

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[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Statements of Assets and Liabilities** |
| **December 31, 2025** |
| *(Dollars in thousands)* |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Voya Government Liquid Assets Portfolio - Service Class** | **Voya Limited Maturity Bond Portfolio - Service Class** | **VY<sup>®</sup>** **CBRE Real Estate Portfolio - Class S** | **Venerable High Yield Fund - Class V** | **Venerable Moderate Allocation Fund - Class V** |
| **Assets** |  |  |  |  |  |
| Investments in mutual funds at fair value | $165<br>| $240<br>| $144<br>| $238<br>| $6611<br>|
| Total assets | 165<br>| 240<br>| 144<br>| 238<br>| 6611<br>|
| Net assets | $165<br>| $240<br>| $144<br>| $238<br>| $6611<br>|
| Total number of mutual fund shares | 165410<br>| 24860<br>| 5178<br>| 23524<br>| 569910<br>|
| Cost of mutual fund shares | $165<br>| $248<br>| $152<br>| $235<br>| $5703<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 3

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Assets and Liabilities**  |
| &nbsp;&nbsp;**December 31, 2025**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Venerable Large Cap Index Fund - Class V** | **Venerable Strategic Bond Fund - Class V** | **Venerable US Large Cap Strategic Equity Fund - Class V** | **Venerable Emerging Markets Equity Fund - Class V** | **Venerable World Equity Fund - Class V** |
| **Assets** |  |  |  |  |  |
| Investments in mutual funds at fair value | $4673<br>| $188<br>| $5081<br>| $560<br>| $1469<br>|
| Total assets | 4673<br>| 188<br>| 5081<br>| 560<br>| 1469<br>|
| Net assets | $4673<br>| $188<br>| $5081<br>| $560<br>| $1469<br>|
| Total number of mutual fund shares | 369111<br>| 19132<br>| 411758<br>| 52999<br>| 138106<br>|
| Cost of mutual fund shares | $3698<br>| $191<br>| $4124<br>| $530<br>| $1398<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 4

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Assets and Liabilities**  |
| &nbsp;&nbsp;**December 31, 2025**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | |
|:---|:---|
|  | **Venerable Mid Cap Index Fund - Class V** |
| **Assets** |  |
| Investments in mutual funds at fair value | $5068<br>|
| Total assets | 5068<br>|
| Net assets | $5068<br>|
| Total number of mutual fund shares | 506330<br>|
| Cost of mutual fund shares | $5063<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 5

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Statements of Operations** |
| **For the Year Ended December 31, 2025** |
| *(Dollars in thousands)* |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Voya Government Liquid Assets Portfolio - Service Class** | **Voya Limited Maturity Bond Portfolio - Service Class** | **VY<sup>®</sup>** **CBRE Real Estate Portfolio - Class S** | **VY<sup>®</sup>** **JPMorgan Emerging Markets Equity Portfolio - Service Class** | **Voya Global High Dividend Low Volatility Portfolio - Class S** |
| **Net investment income (loss)** |  |  |  |  |  |
| Investment Income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends | $7<br>| $10<br>| $5<br>| $4<br>| $24<br>|
| Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risks and other charges | 2<br>| 2<br>| 2<br>| 4<br>| 10<br>|
| Total expenses | 2<br>| 2<br>| 2<br>| 4<br>| 10<br>|
| Net investment income (loss) | 5<br>| 8<br>| 3<br>| —<br>| 14<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;**Realized and unrealized gain (loss) on** <br>**investments** |  |  |  |  |  |
| Net realized gain (loss) on investments | —<br>| —<br>| (8)<br>| (150)<br>| 212<br>|
| Capital gains distributions | —<br>| —<br>| —<br>| 114<br>| 173<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and <br>capital gains distributions | —<br>| —<br>| (8)<br>| (36)<br>| 385<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of <br>investments | —<br>| 3<br>| 4<br>| 157<br>| (190)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on <br>investments | —<br>| 3<br>| (4)<br>| 121<br>| 195<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting <br>from operations | $5<br>| $11<br>| $(1)<br>| $121<br>| $209<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 6

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Operations**  |
| &nbsp;&nbsp;**For the Year Ended December 31, 2025**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Voya Russell<sup>™</sup>** **Mid Cap Growth Index Portfolio - Class S** | **Venerable High Yield Fund - Class V** | **Venerable Moderate Allocation Fund - Class V** | **Venerable Large Cap Index Fund - Class V** | **Venerable Strategic Bond Fund - Class V** |
| **Net investment income (loss)** |  |  |  |  |  |
| Investment Income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends | $—<br>| $14<br>| $26<br>| $14<br>| $9<br>|
| Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risks and other charges | 35<br>| 2<br>| 64<br>| 46<br>| 2<br>|
| Total expenses | 35<br>| 2<br>| 64<br>| 46<br>| 2<br>|
| Net investment income (loss) | (35)<br>| 12<br>| (38)<br>| (32)<br>| 7<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;**Realized and unrealized gain (loss) on** <br>**investments** |  |  |  |  |  |
| Net realized gain (loss) on investments | 655<br>| —<br>| 21<br>| 82<br>| (6)<br>|
| Capital gains distributions | 612<br>| —<br>| 32<br>| 36<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and <br>capital gains distributions | 1267<br>| —<br>| 53<br>| 118<br>| (6)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of <br>investments | (648)<br>| 5<br>| 665<br>| 567<br>| 14<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on <br>investments | 619<br>| 5<br>| 718<br>| 685<br>| 8<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting <br>from operations | $584<br>| $17<br>| $680<br>| $653<br>| $15<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 7

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Operations**  |
| &nbsp;&nbsp;**For the Year Ended December 31, 2025**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Venerable US Large Cap Strategic Equity Fund - Class V** | **Venerable Emerging Markets Equity Fund - Class V** | **Venerable World Equity Fund - Class V** | **Venerable Mid Cap Index Fund - Class V** |
| **Net investment income (loss)** |  |  |  |  |
| Investment Income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends | $9<br>| $—<br>| $—<br>| $—<br>|
| Expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risks and other charges | 48<br>| 2<br>| 4<br>| 15<br>|
| Total expenses | 48<br>| 2<br>| 4<br>| 15<br>|
| Net investment income (loss) | (39)<br>| (2)<br>| (4)<br>| (15)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;**Realized and unrealized gain (loss) on** <br>**investments** |  |  |  |  |
| Net realized gain (loss) on investments | 27<br>| —<br>| 1<br>| (1)<br>|
| Capital gains distributions | 58<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and <br>capital gains distributions | 85<br>| —<br>| 1<br>| (1)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of <br>investments | 620<br>| 30<br>| 72<br>| 5<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on <br>investments | 705<br>| 30<br>| 73<br>| 4<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting <br>from operations | $666<br>| $28<br>| $69<br>| $(11)<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 8

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Statements of Changes in Net Assets** |
| **For the Years Ended December 31, 2025 and 2024** |
| *(Dollars in thousands)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya Intermediate Bond Portfolio - Class S** | **Voya Government Liquid Assets Portfolio - Service Class** | **Voya High Yield Portfolio - Service Class** | **Voya Large Cap Growth Portfolio - Service Class** |
| **Net assets at January 1, 2024** | $501<br>| $288<br>| $232<br>| $2095<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | 9<br>| 8<br>| 8<br>| (15)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | (76)<br>| —<br>| (26)<br>| 129<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 82<br>| —<br>| 30<br>| 178<br>|
| Net increase (decrease) in net assets resulting from operations | 15<br>| 8<br>| 12<br>| 292<br>|
| **Changes from principal transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | (115)<br>| (86)<br>| —<br>| (254)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| —<br>| —<br>| (6)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| 7<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (4)<br>| (24)<br>| (1)<br>| (13)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | 1<br>| (4)<br>| —<br>| 2<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | (398)<br>| —<br>| (243)<br>| (2116)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | (516)<br>| (107)<br>| (244)<br>| (2387)<br>|
| Total increase (decrease) in net assets | (501)<br>| (99)<br>| (232)<br>| (2095)<br>|
| **Net assets at December 31, 2024** | $—<br>| $189<br>| $—<br>| $—<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | —<br>| 5<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | —<br>| —<br>| —<br>| —<br>|
| Net increase (decrease) in net assets resulting from operations | —<br>| 5<br>| —<br>| —<br>|
| Changes from principal transactions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | —<br>| (1)<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| (167)<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| 7<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | —<br>| (16)<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | —<br>| (3)<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | —<br>| 151<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | —<br>| (29)<br>| —<br>| —<br>|
| Total increase (decrease) in net assets | —<br>| (24)<br>| —<br>| —<br>|
| **Net assets at December 31, 2025** | $—<br>| $165<br>| $—<br>| $—<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 9

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Changes in Net Assets**  |
| &nbsp;&nbsp;**For the Years Ended December 31, 2025 and 2024**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya Limited Maturity Bond Portfolio - Service Class** | **VY<sup>®</sup>** **CBRE Real Estate Portfolio - Class S** | **VY<sup>®</sup>** **Invesco Growth and Income Portfolio - Service Class** | **VY<sup>®</sup>** **JPMorgan Emerging Markets Equity Portfolio - Service Class** |
| **Net assets at January 1, 2024** | $256<br>| $250<br>| $2755<br>| $529<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | 9<br>| 3<br>| 17<br>| (1)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | (2)<br>| (10)<br>| 25<br>| (26)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 2<br>| 13<br>| 192<br>| 31<br>|
| Net increase (decrease) in net assets resulting from operations | 9<br>| 6<br>| 234<br>| 4<br>|
| **Changes from principal transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | (29)<br>| (25)<br>| (185)<br>| (14)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| (28)<br>| (38)<br>| (5)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (3)<br>| (3)<br>| (24)<br>| (10)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | —<br>| —<br>| 3<br>| (1)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | —<br>| (2)<br>| (2745)<br>| (9)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | (32)<br>| (58)<br>| (2989)<br>| (39)<br>|
| Total increase (decrease) in net assets | (23)<br>| (52)<br>| (2755)<br>| (35)<br>|
| **Net assets at December 31, 2024** | $233<br>| $198<br>| $—<br>| $494<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | 8<br>| 3<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | —<br>| (8)<br>| —<br>| (36)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 3<br>| 4<br>| —<br>| 157<br>|
| Net increase (decrease) in net assets resulting from operations | 11<br>| (1)<br>| —<br>| 121<br>|
| Changes from principal transactions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | —<br>| (2)<br>| —<br>| (81)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| (48)<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>| —<br>| 9<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (3)<br>| (2)<br>| —<br>| (8)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | (1)<br>| (1)<br>| —<br>| (535)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | (4)<br>| (53)<br>| —<br>| (615)<br>|
| Total increase (decrease) in net assets | 7<br>| (54)<br>| —<br>| (494)<br>|
| **Net assets at December 31, 2025** | $240<br>| $144<br>| $—<br>| $—<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 10

------

[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Changes in Net Assets**  |
| &nbsp;&nbsp;**For the Years Ended December 31, 2025 and 2024**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **VY<sup>®</sup>** **T. Rowe Price Capital Appreciation Portfolio - Service Class** | **VY<sup>®</sup>** **Invesco Equity and Income Portfolio - Service Class** | **Voya Global High Dividend Low Volatility Portfolio - Class S** | **Voya Russell<sup>™</sup>** **Large Cap Index Portfolio - Class S** |
| **Net assets at January 1, 2024** | $4813<br>| $1518<br>| $1379<br>| $2277<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | (11)<br>| (10)<br>| 22<br>| 4<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | 180<br>| 14<br>| 63<br>| 1530<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 184<br>| 101<br>| 69<br>| (1224)<br>|
| Net increase (decrease) in net assets resulting from operations | 353<br>| 105<br>| 154<br>| 310<br>|
| **Changes from principal transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | 1<br>| —<br>| —<br>| 1<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | (17)<br>| (18)<br>| (72)<br>| (66)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | (15)<br>| (16)<br>| (10)<br>| (55)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (53)<br>| (16)<br>| (23)<br>| (27)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | 8<br>| 3<br>| (1)<br>| 3<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | (5090)<br>| (1576)<br>| (1)<br>| (2443)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | (5166)<br>| (1623)<br>| (107)<br>| (2587)<br>|
| Total increase (decrease) in net assets | (4813)<br>| (1518)<br>| 47<br>| (2277)<br>|
| **Net assets at December 31, 2024** | $—<br>| $—<br>| $1426<br>| $—<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | —<br>| —<br>| 14<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | —<br>| —<br>| 385<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | —<br>| —<br>| (190)<br>| —<br>|
| Net increase (decrease) in net assets resulting from operations | —<br>| —<br>| 209<br>| —<br>|
| Changes from principal transactions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | —<br>| —<br>| (140)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| —<br>| (58)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>| 19<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | —<br>| —<br>| (17)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | —<br>| —<br>| 1<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | —<br>| —<br>| (1440)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | —<br>| —<br>| (1635)<br>| —<br>|
| Total increase (decrease) in net assets | —<br>| —<br>| (1426)<br>| —<br>|
| **Net assets at December 31, 2025** | $—<br>| $—<br>| $—<br>| $—<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 11

------

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---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Changes in Net Assets**  |
| &nbsp;&nbsp;**For the Years Ended December 31, 2025 and 2024**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya Russell<sup>™</sup>** **Large Cap Value Index Portfolio - Class S** | **Voya Russell<sup>™</sup>** **Mid Cap Growth Index Portfolio - Class S** | **Venerable High Yield Fund - Class V** | **Venerable Moderate Allocation Fund - Class V** |
| **Net assets at January 1, 2024** | $2532<br>| $4757<br>| $—<br>| $—<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | 31<br>| (41)<br>| 2<br>| (21)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | 358<br>| 9<br>| —<br>| 23<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | (101)<br>| 945<br>| (2)<br>| 244<br>|
| Net increase (decrease) in net assets resulting from operations | 288<br>| 913<br>| —<br>| 246<br>|
| **Changes from principal transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| 1<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | (14)<br>| (487)<br>| (18)<br>| (462)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | (31)<br>| (38)<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (22)<br>| (46)<br>| (1)<br>| (28)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | 2<br>| (4)<br>| —<br>| (16)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | (2755)<br>| (45)<br>| 243<br>| 6752<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | (2820)<br>| (619)<br>| 224<br>| 6246<br>|
| Total increase (decrease) in net assets | (2532)<br>| 294<br>| 224<br>| 6492<br>|
| **Net assets at December 31, 2024** | $—<br>| $5051<br>| $224<br>| $6492<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | —<br>| (35)<br>| 12<br>| (38)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | —<br>| 1267<br>| —<br>| 53<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | —<br>| (648)<br>| 5<br>| 665<br>|
| Net increase (decrease) in net assets resulting from operations | —<br>| 584<br>| 17<br>| 680<br>|
| Changes from principal transactions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| 1<br>| —<br>| 1<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | —<br>| (311)<br>| —<br>| (265)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| (130)<br>| —<br>| (134)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | —<br>| (30)<br>| (2)<br>| (88)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | —<br>| 3<br>| —<br>| (4)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | —<br>| (5168)<br>| (1)<br>| (71)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | —<br>| (5635)<br>| (3)<br>| (561)<br>|
| Total increase (decrease) in net assets | —<br>| (5051)<br>| 14<br>| 119<br>|
| **Net assets at December 31, 2025** | $—<br>| $—<br>| $238<br>| $6611<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 12

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---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Changes in Net Assets**  |
| &nbsp;&nbsp;**For the Years Ended December 31, 2025 and 2024**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Venerable Large Cap Index Fund - Class V** | **Venerable Strategic Bond Fund - Class V** | **Venerable US Large Cap Strategic Equity Fund - Class V** | **Venerable Emerging Markets Equity Fund - Class V** |
| **Net assets at January 1, 2024** | $—<br>| $—<br>| $—<br>| $—<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | (16)<br>| 2<br>| (16)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | 51<br>| —<br>| 33<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 408<br>| (17)<br>| 337<br>| —<br>|
| Net increase (decrease) in net assets resulting from operations | 443<br>| (15)<br>| 354<br>| —<br>|
| **Changes from principal transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | 1<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | (586)<br>| (10)<br>| (468)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (22)<br>| (2)<br>| (17)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | (7)<br>| (1)<br>| (8)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | 5109<br>| 399<br>| 4916<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | 4495<br>| 386<br>| 4423<br>| —<br>|
| Total increase (decrease) in net assets | 4938<br>| 371<br>| 4777<br>| —<br>|
| **Net assets at December 31, 2024** | $4938<br>| $371<br>| $4777<br>| $—<br>|
| **Increase (decrease) in net assets** |  |  |  |  |
| Operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | (32)<br>| 7<br>| (39)<br>| (2)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | 118<br>| (6)<br>| 85<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 567<br>| 14<br>| 620<br>| 30<br>|
| Net increase (decrease) in net assets resulting from operations | 653<br>| 15<br>| 666<br>| 28<br>|
| Changes from principal transactions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | 1<br>| (1)<br>| 1<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | (611)<br>| —<br>| (207)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | (174)<br>| (193)<br>| (103)<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | 12<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (59)<br>| (3)<br>| (49)<br>| (3)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | (3)<br>| 1<br>| (4)<br>| (1)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | (84)<br>| (2)<br>| —<br>| 536<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | (918)<br>| (198)<br>| (362)<br>| 532<br>|
| Total increase (decrease) in net assets | (265)<br>| (183)<br>| 304<br>| 560<br>|
| **Net assets at December 31, 2025** | $4673<br>| $188<br>| $5081<br>| $560<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 13

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---

| |
|:---|
| &nbsp;&nbsp;**VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| &nbsp;&nbsp;**SEPARATE ACCOUNT A**  |
| &nbsp;&nbsp;**Statements of Changes in Net Assets**  |
| &nbsp;&nbsp;**For the Years Ended December 31, 2025 and 2024**  |
| &nbsp;&nbsp;*(Dollars in thousands)*  |

---

---

| | | |
|:---|:---|:---|
|  | **Venerable World Equity Fund - Class V** | **Venerable Mid Cap Index Fund - Class V** |
| **Net assets at January 1, 2024** | $—<br>| $—<br>|
| **Increase (decrease) in net assets** |  |  |
| Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | —<br>| —<br>|
| Net increase (decrease) in net assets resulting from operations | —<br>| —<br>|
| **Changes from principal transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | —<br>| —<br>|
| Total increase (decrease) in net assets | —<br>| —<br>|
| **Net assets at December 31, 2024** | $—<br>| $—<br>|
| **Increase (decrease) in net assets** |  |  |
| Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | (4)<br>| (15)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | 1<br>| (1)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 72<br>| 5<br>|
| Net increase (decrease) in net assets resulting from operations | 69<br>| (11)<br>|
| Changes from principal transactions: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Death Benefits | (4)<br>| (42)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Surrenders and withdrawals | (27)<br>| (28)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Policy Loans | —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Contract Charges | (6)<br>| (11)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of insurance and administrative charges | (2)<br>| (7)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers between Divisions (including fixed account), net | 1439<br>| 5167<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from principal <br>transactions | 1400<br>| 5079<br>|
| Total increase (decrease) in net assets | 1469<br>| 5068<br>|
| **Net assets at December 31, 2025** | $1469<br>| $5068<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 14

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---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**1. Organization**

Venerable Insurance and Annuity Company ("VIAC" or the "Company") is domiciled in the State of Iowa and was originally organized in 1973 under the insurance laws of Minnesota. On June 1, 2018, the Company became an indirectly wholly owned subsidiary of VA Capital Company LLC, ("VA Capital"), a limited liability company domiciled in the State of Delaware. The Company's direct parent is Venerable Holdings, Inc. ("Venerable Holdings"), a holding company domiciled in the State of Delaware. Before June 1, 2018, the Company was an indirectly wholly owned subsidiary of Voya Financial, Inc.

Separate Account A of the Company (the "Account") was established by the Company on July 14, 1988, to support operations of the Company's variable life contracts (the "Contracts"). The Company ceased sales of new variable life products in 2010, but existing Contract owners may continue to invest in their Contracts. Directed Services LLC, ("DSL"), an affiliate of the Company, acts as the principal underwriter (as defined in the Securities Act of 1933 and the 1940 Act, as amended) of the Contracts issued by the Company. The Contracts were distributed through registered representatives of other broker-dealers who have entered into selling agreements with DSL.

The flexible premium variable life insurance Contracts supported by the Account are:

• Golden Select Genesis I

• Golden Select Genesis Flex

The Account is registered as a unit investment trust with the Securities Exchange Commission ("SEC") under the Investment Company Act of 1940, as amended. VIAC provides for variable accumulation and benefits under the Policies by crediting insurance premiums to one or more divisions within the Account or the fixed interest division (an investment option in the Company's general account), as elected by the policyholders. The portion of the Account's assets applicable to policies will not be charged with liabilities arising out of any other business VIAC may conduct, but obligations of the Account, including the promise to make benefit payments, are obligations of VIAC. Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the other assets and liabilities of VIAC.

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

At December 31, 2025, the Account had 11 investment divisions (the "Divisions"), 3 of which invest in independently managed mutual funds and 8 of which invest in mutual funds managed by an affiliate, Venerable Investment Advisers, LLC ("Venerable Advisers"), an investment adviser and wholly owned subsidiary of Venerable Holdings. The assets in each Division are invested in shares of a designated fund ("Fund") of various investment trusts ("Trusts").

The Divisions with asset balances at December 31, 2025 are as follows:

---

| |
|:---|
| **Voya:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Government Liquid Assets Portfolio - Service Class |
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Limited Maturity Bond Portfolio - Service Class |
| **Voya (VY):** |
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> CBRE Real Estate Portfolio - Class S |
| **Venerable Variable Insurance Trust:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable High Yield Fund - Class V |

---

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Moderate Allocation Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Large Cap Index Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Strategic Bond Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable US Large Cap Strategic Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Emerging Markets Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable World Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Mid Cap Index Fund - Class V |

---

During 2025, the Divisions closed to contract owners due to fund mergers and substitutions are as follows:

---

| |
|:---|
| **Voya (VY):** |
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> JPMorgan Emerging Markets Equity Portfolio - Service Class |
| **Voya:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Global High Dividend Low Volatility Portfolio - Class S |
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Russell<sup>™</sup> Mid Cap Growth Index Portfolio - Class S |

---

During 2025, the Divisions opened to contract owners due to fund mergers and substitutions are as follows, which includes the Venerable Variable Insurance Trust ("VVIT"), comprised of mutual funds managed by Venerable Advisers, an affiliate of the Company:

---

| |
|:---|
| **Venerable Variable Insurance Trust:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Emerging Markets Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable World Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Mid Cap Index Fund - Class V |

---

**2. Significant Accounting Policies**

The following is a summary of the significant account policies of the Account.

*Use of Estimates*

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

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---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

*Investments*

Investments are made in shares of a Division and are recorded at fair value, determined by the net asset value per share of the respective Division. Investment transactions in each Division are recorded on the trade date. Distributions of net investment income and capital gains from each Division are recognized on the ex-distribution date. Realized gains and losses on redemptions of the shares of the Division are determined on a first-in, first-out basis. The difference between cost and current fair value of investments owned on the day of measurement is recorded as unrealized appreciation or depreciation of investments.

*Federal Income Taxes*

Operations of the Account form a part of, and are taxed with, the total operations of VIAC, which is taxed as a life insurance company under the Internal Revenue Code ("IRC"). Under the current provisions of the IRC, the Company does not expect to incur federal income taxes on the earnings of the Account to the extent the earnings are credited to policyholders. Accordingly, earnings and realized capital gains of the Account attributable to the policyholders are excluded in the determination of the federal income tax liability of VIAC, and no charge is being made to the Account for federal income taxes for these amounts. The Company will review this tax accounting in the event of changes in the tax law. Such changes in the law may result in a charge for federal income taxes. Uncertain tax positions are assessed at the parent level on a consolidated basis, including taxes of the operations of the Separate Account.

*Policyholder Reserves*

Policyholder reserves of the Account are represented by net assets on the Statements of Assets and Liabilities and are equal to the aggregate account values of the policyholders invested in the Account Divisions. To the extent that benefits to be paid to the policyholders exceed their account values, VIAC will contribute additional funds to the benefit proceeds. Conversely, if amounts allocated exceed amounts required, transfers may be made to VIAC.

*Changes from Principal Transactions*

Included in Changes from principal transactions on the Statements of Changes in Net Assets are items which relate to policyholder activity, including premiums, death benefits, surrenders and withdrawals, policy loans, policy charges, cost of insurance, and administrative charges. Also included are transfers between the fixed account and the Divisions, transfers between Divisions, and transfers to (from) VIAC related to gains and losses resulting from actual mortality experience (the full responsibility for which is assumed by VIAC).

*Segment Disclosures*

FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07") defines an operating segment as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Account's CODM is the Company's Chief Executive Officer. The Account represents a single operating segment as the CODM monitors operating results, and as a whole, long-term strategic asset allocation

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---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

is pre-determined based on a defined investment strategy. The "Total increase (decrease) in net assets", which is used by the CODM to assess the segment's performance, is consistent with the accompanying Statements of Changes in Net Assets. Segment assets are reflected on the accompanying Statements of Assets and Liabilities as "Total net assets" and significant segment expenses are listed on the accompanying Statements of Operations.

*Subsequent Events*

The Account has evaluated subsequent events for recognition and disclosure through the date the financial statements were issued.

**3. Financial Instruments**

The Account invests assets in shares of open-end mutual funds, which process orders to purchase and redeem shares on a daily basis at the fund's next computed net asset values ("NAV"). The fair value of the Account's assets is based on the NAVs of mutual funds, which are obtained from the transfer agents or fund companies and reflect the fair values of the mutual fund investments. The NAV is calculated daily upon close of the New York Stock Exchange and is based on the fair values of the underlying securities.

The Account's assets are recorded at fair value on the Statements of Assets and Liabilities and are categorized as Level 1 as of December 31, 2025. There were no transfers among the levels for the year ended December 31, 2025. The account had no liabilities as of December 31, 2025.

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

• Level 1 - Unadjusted quoted prices for identical assets or liabilities in an active market. The Account defines an active market as a market in which transactions take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

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

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

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

c) Inputs other than quoted market prices that are observable; and

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

• Level 3 - Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These valuations, whether derived internally or obtained from a third party, use critical assumptions that are not widely available to estimate market participant expectations in valuing the asset or liability.

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**4. Charges and Fees**

Under the terms of the Policies, certain charges and fees are incurred by the Policies to cover VIAC's expenses in connection with the issuance and administration of the Policies. Following is a summary of these charges and fees:

*Mortality and Expense Risk Charges*

VIAC assumes mortality and expense risks related to the operations of the Account and, in accordance with the terms of the Policies, deducts a daily charge from the assets of the Account. Daily charges are deducted at an annual rate of 0.90% of the average daily net asset value of each Division of the Account to cover these risks, as specified in the Policies. These charges are assessed through a reduction in unit values.

*Asset Based Administrative Charges*

A charge to cover administrative expenses of the Account is deducted at an annual rate of 0.10% of the assets attributable to the Policies. These charges are assessed through a reduction in unit values.

*Policy Issuance and Maintenance Charges*

An administrative charge of $200 (single life) or $300 (joint life) may be made to cover the cost of underwriting and issuing a Policy. The charge is deducted in quarterly installments on each Policy during the first Policy year. In addition, an annual administrative charge of $40 per Policy may be deducted to cover ongoing administrative expenses. These charges are assessed through the redemption of units.

*Mortality Cost*

A mortality cost is deducted equal to the cost of providing coverage under the Policies. The cost is based on each insured's sex, attained age, and underwriting class and can be adjusted, subject to certain maximum amounts set forth in the Policies. These charges are assessed through the redemption of units.

*Minimum Death Benefit Guarantee Charge*

A minimum death benefit guarantee charge is assessed at a maximum rate per year of $0.60 per $1,000 of face or net amount at risk, as defined in each Policy. The charge is deducted in equal installments on each Policy's quarterly processing date during the guarantee period. These charges are assessed through the redemption of units.

*Deferred Sales*

Under Policies offered prior to October 1995, a sales load of up to 7.50% was assessed to each premium payment for sales-related expenses as specified in the Policy. The sales load on all Policies is chargeable to each premium when it is received by VIAC. The amount of such a charge is initially advanced by VIAC to policyholders. This amount is included in the accumulation value and then deducted in equal installments on each Policy anniversary date over a period of either six or ten years. Upon surrender of the Policy, the unamortized deferred sales load is deducted from the accumulation value by VIAC. These charges are assessed through the redemption of units.

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

*Deferred Face Amount Charge*

A charge is assessed which is deducted in equal installments over a six-year period following receipt of the initial premium or increase in face amount. This charge varies based on the face amount, age, and sex of the insured and the Policy chosen. This charge will never exceed $12 per $1,000 of face amount. A portion of this charge is considered to be an additional sales load. These charges are assessed through the redemption of units.

*Loan Charge*

A current net loan charge of up to 5.00% is made based on the Policy loan amount on Policies that allow loans. The charge is accrued daily, as applicable, and deducted on each Policy anniversary date. These charges are assessed through the redemption of units.

*Fees Waived by VIAC*

Certain charges and fees for various types of policies may be waived by VIAC. VIAC reserves the right to discontinue these waivers at its discretion or to conform to changes in the law.

**5. Related Party Transactions**

Effective September 5, 2025, and September 12, 2025, Venerable Advisers, an investment adviser and wholly owned subsidiary of Venerable Holdings, launched additional mutual funds (collectively, "Wave 2") through the VVIT. The Wave 2 funds, with $7.0 billion in assets under management as of the combined effective dates, are comprised of assets substituted from previously managed, independent trusts. Effective September 9, 2024, Venerable Advisers announced the launch of the VVIT and its initial line-up of mutual funds (collectively, "Wave 1"). The Wave 1 funds, comprised of $9.5 billion in assets under management as of the effective date, are also comprised of assets substituted from previously managed, independent trusts. The mutual funds launched in Waves 1 and 2 serve as investment options for the Company's separate accounts, including that of the Account, and brings the management of these mutual funds underlying the Company's variable annuity business primarily in-house.

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**6. Purchase and Sales of Investment Securities**

The aggregate cost of purchases and proceeds from sales of investments for the year ended December 31, 2025 follow:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
|  | *(Dollars in thousands)* | *(Dollars in thousands)* |
| **Voya:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Government Liquid Assets Portfolio - Service Class | $166<br>| $189<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Limited Maturity Bond Portfolio - Service Class | $10<br>| $5<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Global High Dividend Low Volatility Portfolio - Class S | $216<br>| $1664<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Russell<sup>™</sup> Mid Cap Growth Index Portfolio - Class S | $612<br>| $5670<br>|
| **Voya (VY):** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | $5<br>| $54<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> JPMorgan Emerging Markets Equity Portfolio - Service Class | $127<br>| $627<br>|
| **Venerable Variable Insurance Trust:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable High Yield Fund - Class V | $14<br>| $5<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Moderate Allocation Fund - Class V | $59<br>| $625<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Large Cap Index Fund - Class V | $61<br>| $975<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Strategic Bond Fund - Class V | $9<br>| $200<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable US Large Cap Strategic Equity Fund - Class V | $67<br>| $410<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Emerging Markets Equity Fund - Class V | $535<br>| $4<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable World Equity Fund - Class V | $1439<br>| $42<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Mid Cap Index Fund - Class V | $5161<br>| $96<br>|

---

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**7. Changes in Units**

The net changes in units outstanding follow:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | **Units**<br>**Issued** | **Units**<br>**Redeemed** | **Net Increase**<br>**(Decrease)** | **Units**<br>**Issued** | **Units**<br>**Redeemed** | **Net Increase**<br>**(Decrease)** |
| **Voya:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Intermediate Bond Portfolio - Class S | —<br>| —<br>| —<br>| —<br>| 45689<br>| (45689)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Government Liquid Assets Portfolio - Service Class | 8667<br>| 10180<br>| (1513)<br>| 514<br>| 6564<br>| (6050)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya High Yield Portfolio - Service Class | —<br>| —<br>| —<br>| —<br>| 9099<br>| (9099)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Large Cap Growth Portfolio - Service Class | —<br>| —<br>| —<br>| 1823<br>| 80068<br>| (78245)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Limited Maturity Bond Portfolio - Service Class | —<br>| 99<br>| (99)<br>| —<br>| 1243<br>| (1243)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Global High Dividend Low Volatility Portfolio - Class S | 1017<br>| 87900<br>| (86883)<br>| —<br>| 6825<br>| (6825)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Russell<sup>™</sup> Large Cap Index Portfolio - Class S | —<br>| —<br>| —<br>| 1224<br>| 38763<br>| (37539)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Russell<sup>™</sup> Large Cap Value Index Portfolio - Class S | —<br>| —<br>| —<br>| —<br>| 238647<br>| (238647)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Voya Russell<sup>™</sup> Mid Cap Growth Index Portfolio - Class S | 2<br>| 75748<br>| (75746)<br>| 11<br>| 9916<br>| (9905)<br>|
| **Voya (VY):** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | —<br>| 299<br>| (299)<br>| —<br>| 341<br>| (341)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> Invesco Growth and Income Portfolio - Service Class | —<br>| —<br>| —<br>| 1<br>| 30137<br>| (30136)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> JPMorgan Emerging Markets Equity Portfolio - Service Class | 274<br>| 16845<br>| (16571)<br>| 3<br>| 1344<br>| (1341)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> T. Rowe Price Capital Appreciation Portfolio - Service Class | —<br>| —<br>| —<br>| 428<br>| 25692<br>| (25264)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;VY<sup>®</sup> Invesco Equity and Income Portfolio - Service Class | —<br>| —<br>| —<br>| —<br>| 91652<br>| (91652)<br>|
| **Venerable Variable Insurance Trust:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable High Yield Fund - Class V | —<br>| 215<br>| (215)<br>| 24234<br>| 1891<br>| 22343<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Moderate Allocation Fund - Class V | 11<br>| 54441<br>| (54430)<br>| 673753<br>| 46915<br>| 626838<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Large Cap Index Fund - Class V | 1093<br>| 85183<br>| (84090)<br>| 510410<br>| 55941<br>| 454469<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Strategic Bond Fund - Class V | —<br>| 20116<br>| (20116)<br>| 39800<br>| 1206<br>| 38594<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable US Large Cap Strategic Equity Fund - Class V | 14<br>| 33774<br>| (33760)<br>| 490700<br>| 45318<br>| 445382<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Emerging Markets Equity Fund - Class V | 53436<br>| 271<br>| 53165<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable World Equity Fund - Class V | 142593<br>| 3637<br>| 138956<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Venerable Mid Cap Index Fund - Class V | 516115<br>| 8193<br>| 507922<br>| —<br>| —<br>| —<br>|

---

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[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**8. Financial Highlights**

A summary of unit values, units outstanding, and net assets for life insurance Policies as of December 31, 2025, 2024, 2023, 2022, and 2021 and expense ratios, excluding expenses of underlying Funds, investment income ratios and total returns for the years ended December 31, 2025, 2024, 2023, 2022, and 2021 follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fund**<br>**Inception<br>Date<sup>A</sup>** | **Units**<br>**(000's)** | **Unit Fair Value** | **Net Assets**<br>**(000's)** | **Investment**<br>**Income<br>Ratio<sup>B</sup>** | **Expense Ratio<sup>C</sup>** | **Total Return<sup>D</sup>** |
| Voya Government Liquid Assets Portfolio - Service Class | Voya Government Liquid Assets Portfolio - Service Class | Voya Government Liquid Assets Portfolio - Service Class | Voya Government Liquid Assets Portfolio - Service Class | Voya Government Liquid Assets Portfolio - Service Class | Voya Government Liquid Assets Portfolio - Service Class | Voya Government Liquid Assets Portfolio - Service Class | Voya Government Liquid Assets Portfolio - Service Class |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 9 | $18.83<br>| $165 | 3.76%<br>| 1.00%<br>| 2.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | 10 | $18.31<br>| $189 | 4.13%<br>| 1.00%<br>| 3.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | 16 | $17.64<br>| $288 | 4.57%<br>| 1.00%<br>| 3.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | 18 | $17.03<br>| $301 | 1.37%<br>| 1.00%<br>| 0.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | 17 | $16.97<br>| $282 | 0.00%<br>| 1.00%<br>| -0.99% |
| Voya Limited Maturity Bond Portfolio - Service Class | Voya Limited Maturity Bond Portfolio - Service Class | Voya Limited Maturity Bond Portfolio - Service Class | Voya Limited Maturity Bond Portfolio - Service Class | Voya Limited Maturity Bond Portfolio - Service Class | Voya Limited Maturity Bond Portfolio - Service Class | Voya Limited Maturity Bond Portfolio - Service Class | Voya Limited Maturity Bond Portfolio - Service Class |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 9 | $27.67<br>| $240 | 4.24%<br>| 1.00%<br>| 4.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | 9 | $26.51<br>| $233 | 4.43%<br>| 1.00%<br>| 3.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | 10 | $25.53<br>| $256 | 3.71%<br>| 1.00%<br>| 3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | 11 | $24.67<br>| $260 | 1.66%<br>| 1.00%<br>| -5.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | 10 | $26.22<br>| $262 | 1.43%<br>| 1.00%<br>| -1.17% |
| VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | VY<sup>®</sup> CBRE Real Estate Portfolio - Class S | VY<sup>®</sup> CBRE Real Estate Portfolio - Class S |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 1 | $174.03<br>| $144 | 2.64%<br>| 1.00%<br>| -0.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | 1 | $175.73<br>| $198 | 2.23%<br>| 1.00%<br>| 3.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | 1 | $170.19<br>| $250 | 2.04%<br>| 1.00%<br>| 12.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | 2 | $150.73<br>| $308 | 1.49%<br>| 1.00%<br>| -27.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | 2 | $208.98<br>| $478 | 1.76%<br>| 1.00%<br>| 50.43% |
| Venerable High Yield Fund - Class V | Venerable High Yield Fund - Class V | Venerable High Yield Fund - Class V | Venerable High Yield Fund - Class V | Venerable High Yield Fund - Class V | Venerable High Yield Fund - Class V | Venerable High Yield Fund - Class V | Venerable High Yield Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 22 | $10.77<br>| $238 | 6.11%<br>| 1.00%<br>| 7.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 09/06/2024 | 22 | $10.02<br>| $224 | 2.58%<br>| 1.00%<br>| 0.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (a) | (a) | (a) | (a) | (a) | (a) |

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[Back to **Table of Contents**](#TOC_861)

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fund<br>Inception<br>Date<sup>A</sup>** | **Units<br>(000's)** | **Unit Fair Value** | **Net Assets<br>(000's)** | **Investment<br>Income<br>Ratio<sup>B</sup>** | **Expense Ratio<sup>C</sup>** | **Total Return<sup>D</sup>** |
| Venerable Moderate Allocation Fund - Class V | Venerable Moderate Allocation Fund - Class V | Venerable Moderate Allocation Fund - Class V | Venerable Moderate Allocation Fund - Class V | Venerable Moderate Allocation Fund - Class V | Venerable Moderate Allocation Fund - Class V | Venerable Moderate Allocation Fund - Class V | Venerable Moderate Allocation Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 572 | $11.55<br>| $6611 | 0.40%<br>| 1.00%<br>| 11.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 09/06/2024 | 627 | $10.36<br>| $6492 | 0.00%<br>| 1.00%<br>| 3.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| Venerable Large Cap Index Fund - Class V | Venerable Large Cap Index Fund - Class V | Venerable Large Cap Index Fund - Class V | Venerable Large Cap Index Fund - Class V | Venerable Large Cap Index Fund - Class V | Venerable Large Cap Index Fund - Class V | Venerable Large Cap Index Fund - Class V | Venerable Large Cap Index Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 370 | $12.62<br>| $4673 | 0.29%<br>| 1.00%<br>| 16.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 09/06/2024 | 454 | $10.86<br>| $4938 | 0.00%<br>| 1.00%<br>| 8.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| Venerable Strategic Bond Fund - Class V | Venerable Strategic Bond Fund - Class V | Venerable Strategic Bond Fund - Class V | Venerable Strategic Bond Fund - Class V | Venerable Strategic Bond Fund - Class V | Venerable Strategic Bond Fund - Class V | Venerable Strategic Bond Fund - Class V | Venerable Strategic Bond Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 18 | $10.16<br>| $188 | 3.28%<br>| 1.00%<br>| 5.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 09/06/2024 | 39 | $9.60<br>| $371 | 1.74%<br>| 1.00%<br>| -3.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| Venerable US Large Cap Strategic Equity Fund - Class V | Venerable US Large Cap Strategic Equity Fund - Class V | Venerable US Large Cap Strategic Equity Fund - Class V | Venerable US Large Cap Strategic Equity Fund - Class V | Venerable US Large Cap Strategic Equity Fund - Class V | Venerable US Large Cap Strategic Equity Fund - Class V | Venerable US Large Cap Strategic Equity Fund - Class V | Venerable US Large Cap Strategic Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 412 | $12.34<br>| $5081 | 0.18%<br>| 1.00%<br>| 15.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 09/06/2024 | 445 | $10.73<br>| $4777 | 0.00%<br>| 1.00%<br>| 7.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (a) | (a) | (a) | (a) | (a) | (a) |
| Venerable Emerging Markets Equity Fund - Class V | Venerable Emerging Markets Equity Fund - Class V | Venerable Emerging Markets Equity Fund - Class V | Venerable Emerging Markets Equity Fund - Class V | Venerable Emerging Markets Equity Fund - Class V | Venerable Emerging Markets Equity Fund - Class V | Venerable Emerging Markets Equity Fund - Class V | Venerable Emerging Markets Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 09/12/2025 | 53 | $10.54<br>| $560 | 0.00%<br>| 1.00%<br>| 5.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (b) | (b) | (b) | (b) | (b) | (b) |

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[Back to **Table of Contents**](#TOC_861)

---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fund<br>Inception<br>Date<sup>A</sup>** | **Units<br>(000's)** | **Unit Fair Value** | **Net Assets<br>(000's)** | **Investment<br>Income<br>Ratio<sup>B</sup>** | **Expense Ratio<sup>C</sup>** | **Total Return<sup>D</sup>** |
| Venerable World Equity Fund - Class V | Venerable World Equity Fund - Class V | Venerable World Equity Fund - Class V | Venerable World Equity Fund - Class V | Venerable World Equity Fund - Class V | Venerable World Equity Fund - Class V | Venerable World Equity Fund - Class V | Venerable World Equity Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 09/12/2025 | 139 | $10.57<br>| $1469 | 0.00%<br>| 1.00%<br>| 4.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| Venerable Mid Cap Index Fund - Class V | Venerable Mid Cap Index Fund - Class V | Venerable Mid Cap Index Fund - Class V | Venerable Mid Cap Index Fund - Class V | Venerable Mid Cap Index Fund - Class V | Venerable Mid Cap Index Fund - Class V | Venerable Mid Cap Index Fund - Class V | Venerable Mid Cap Index Fund - Class V |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 09/12/2025 | 508 | $9.98<br>| $5068 | 0.00%<br>| 1.00%<br>| -0.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | (b) | (b) | (b) | (b) | (b) | (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | (b) | (b) | (b) | (b) | (b) | (b) |

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[Back to **Table of Contents**](#TOC_861)

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(a) As investment Division had no investments until 2024, this data is not meaningful and is therefore not presented.

(b) As investment Division had no investments until 2025, this data is not meaningful and is therefore not presented.

**A**The Fund Inception Date represents the first date the fund received money.

**B**The Investment Income Ratio represents dividends received by the Division, excluding capital gains distributions, divided by the average net assets. The recognition of investments income is determined by the timing of declaration of dividends by the underlaying fund in which the Division invests.

**C**The Expense Ratio considers only the annualized policy expenses borne directly by the Account, excluding expenses charged through the redemption of units, and is equal to the mortality and expense and administrative charges, as defined in the Charges and Fees note.

**D**Total Return is calculated as the change in unit value for each Contract presented in the Statements of Assets and Liabilities.

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[Back to **Table of Contents**](#TOC_861)

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