# EDGAR Filing Document

**Accession Number:** 0001031507
**File Stem:** 0001193125-26-174184
**Filing Date:** 2026-4
**Character Count:** 235356
**Document Hash:** fc919be5e92696c3bad7948afe8aea13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-174184.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001193125-26-174184

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260423

**EFFECTIVENESS DATE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COMPANION LIFE SEPARATE ACCOUNT B
- **CENTRAL INDEX KEY:** 0001031507

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08027
- **FILM NUMBER:** 26889997

**BUSINESS ADDRESS:**
- **STREET 1:** 3300 MUTUAL OF OMAHA PLAZA 3-LAW
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68175-1008
- **BUSINESS PHONE:** 4023512733

**MAIL ADDRESS:**
- **STREET 1:** 3300 MUTUAL OF OMAHA PLAZA  3-LAW
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68175-1008

## Series and Classes Contracts Data

### COMPANION LIFE SEPARATE ACCOUNT B (Series ID: S000010462)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000028912 | ULTRA VARIABLE LIFE FPVUL |  |

##### [**Table of Contents**](#toc)
![LOGO](g88860dsp001.jpg)

Companion Life Insurance Company

(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)

Statutory Financial Statements as of December 31, 2025 and 2024, and for the Years Ended December 31, 2025, 2024, and 2023, Supplemental Schedules as of and for the Year Ended December 31, 2025, and Independent Auditor's Report

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##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)** 

**TABLE OF CONTENTS** 

---

| | |
|:---|:---|
|  | **Page** |
|  [INDEPENDENT AUDITOR'S REPORT](#fin88860_1) | 1 - 3 |
|  [STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2025 AND 2024 AND FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023:](#fin88860_2) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Admitted Assets, Liabilities, and Surplus](#fin88860_3) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Operations](#fin88860_4) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Changes in Surplus](#fin88860_5) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Cash Flows](#fin88860_6) | 7 - 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Statutory Financial Statements](#fin88860_7) | 9 - 41 |
|  [SUPPLEMENTAL SCHEDULES AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025:](#fin88860_8) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Supplemental Schedule of Selected Financial Data](#fin88860_9) | 43 - 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Supplemental Summary Investment Schedule](#fin88860_10) | 48 - 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Supplemental Investment Risks Interrogatories](#fin88860_11) | 50 - 56 |

---

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##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| ![LOGO](g88860dsp002.jpg) | **Deloitte & Touche LLP**<br>1100 Capitol Ave., Suite 300 Omaha, NE 68102-1113 USA<br>Tel: 1-402-346-7788 www.deloitte.com |

---

**INDEPENDENT AUDITOR'S REPORT** 

To the Board of Directors

Companion Life Insurance Company

Hauppauge, New York

**Opinions** 

We have audited the statutory financial statements of Companion Life Insurance Company (the "Company") (a wholly owned subsidiary of United of Omaha Life Insurance Company), which comprise the statutory statements of admitted assets, liabilities, and surplus as of December 31, 2025 and 2024, and the related statutory statements of operations, changes in surplus, and cash flows for each of the three years in the period ended December 31, 2025, and the related notes to the statutory financial statements (collectively referred to as the "statutory financial statements").

**Unmodified Opinion on Statutory-Basis of Accounting** 

In our opinion, the accompanying statutory financial statements present fairly, in all material respects, the admitted assets, liabilities, and surplus of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in accordance with the accounting practices prescribed or permitted by the New York State Department of Financial Services described in Note 1.

**Adverse Opinion on Accounting Principles Generally Accepted in the United States of America** 

In our opinion, because of the significance of the matter described in the Basis for Adverse Opinion on Accounting Principles Generally Accepted in the United States of America section of our report, the statutory financial statements do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the Company as of December 31, 2025 and 2024, or the results of its operations or its cash flows for each of the three years in the period ended December 31, 2025.

**Basis for Opinions** 

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Statutory Financial Statements section of our report. We are required to be independent of the Company, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

------

##### [**Table of Contents**](#toc)
**Basis for Adverse Opinion on Accounting Principles Generally Accepted in the United States of America** 

As described in Note 1 to the statutory financial statements, the statutory financial statements are prepared by the Company using the accounting practices prescribed or permitted by the New York State Department of Financial Services, which is a basis of accounting other than accounting principles generally accepted in the United States of America, to meet the requirements of the New York State Department of Financial Services. The effects on the statutory financial statements of the variances between the statutory basis of accounting described in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material and pervasive.

**Responsibilities of Management for the Statutory Financial Statements** 

Management is responsible for the preparation and fair presentation of the statutory financial statements in accordance with the accounting practices prescribed or permitted by the New York State Department of Financial Services. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of statutory financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the statutory financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date that the statutory financial statements are issued.

**Auditor's Responsibilities for the Audit of the Statutory Financial Statements** 

Our objectives are to obtain reasonable assurance about whether the statutory financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the statutory financial statements.

In performing an audit in accordance with GAAS, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exercise professional judgment and maintain professional skepticism throughout the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Identify and assess the risks of material misstatement of the statutory financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the statutory financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

------

##### [**Table of Contents**](#toc)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the statutory financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

**Report on Supplemental Schedules** 

Our 2025 audit was conducted for the purpose of forming an opinion on the 2025 statutory financial statements as a whole. The supplemental schedule of selected financial data, the supplemental summary investment schedule, and the supplemental investment risk interrogatories as of and for the year ended December 31, 2025, are presented for purposes of additional analysis and are not a required part of the 2025 statutory financial statements. These schedules are the responsibility of Company's management and were derived from and relate directly to the underlying accounting and other records used to prepare the statutory financial statements. Such schedules have been subjected to the auditing procedures applied in our audit of the 2025 statutory financial statements and certain additional procedures, including comparing and reconciling such schedules directly to the underlying accounting and other records used to prepare the statutory financial statements or to the statutory financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, such schedules are fairly stated in all material respects in relation to the 2025 statutory financial statements as a whole.

![LOGO](g88860dsp005.jpg)

April 1, 2026

------

##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)** 

**STATUTORY STATEMENTS OF ADMITTED ASSETS, LIABILITIES, AND SURPLUS** 

**AS OF DECEMBER 31, 2025 AND 2024** 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  **ADMITTED ASSETS** |  |  |
|  CASH AND INVESTED ASSETS: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | $1155505721 | $1125797551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | 31027411 | 35737667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract loans | 40288480 | 38962871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | 70246787 | 55259730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets | 15557419 | 11777300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for securities | 80175 | 155580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total cash and invested assets | 1312705993 | 1267690699 |
|  INVESTMENT INCOME DUE AND ACCRUED | 11488815 | 11107909 |
|  PREMIUMS DEFERRED AND UNCOLLECTED | 12742191 | 12213366 |
|  NET DEFERRED TAX ASSETS | 5131585 | 4150707 |
|  RECEIVABLES FROM PARENT AND AFFILIATES | 3182046 | 1909005 |
|  REINSURANCE RECOVERABLE | 7996216 | 6756532 |
|  ADMITTED DISALLOWED INTEREST MAINTENANCE RESERVE | 6194441 | 4381711 |
|  OTHER ASSETS | 2082357 | 2461093 |
|  SEPARATE ACCOUNT ASSETS | 4347683 | 3930561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL ADMITTED ASSETS | $1365871327 | $1314601583 |
|  **LIABILITIES AND SURPLUS** |  |  |
|  LIABILITIES: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Policy reserves: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life insurance contracts and annuity reserves | $1146214813 | $1108437147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposit—type contracts | 6350664 | 6159132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total policy reserves | 1152565477 | 1114596279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Policy and contract claim reserves | 1926391 | 1639661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premiums received in advance | 733502 | 740158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset valuation reserve | 8930166 | 8845542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General expenses and taxes due or accrued | 1077112 | 938882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other amounts payable on reinsurance | 2262624 | 2262624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Funds held under reinsurance treaties | 60492828 | 56354820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable to parent and affiliates | 3728893 | 1993740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commissions to agents due or accrued | 1389265 | 1658028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Drafts outstanding | 579761 | 498277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 4759161 | 5132460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate account liabilities | 4347683 | 3930561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 1242792863 | 1198591032 |
|  SURPLUS: | SURPLUS: | SURPLUS: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital stock, $400 par value, 5,000 shares authorized, issued, and outstanding | 2000000 | 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross paid—in and contributed surplus | 123250000 | 123250000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special surplus and contingency reserves | 13655163 | 10760741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unassigned deficit | (15826699) | (20000190) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total surplus | 123078464 | 116010551 |
|  TOTAL LIABILITIES AND SURPLUS | $1365871327 | $1314601583 |

---

See notes to statutory financial statements.

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##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)** 

**STATUTORY STATEMENTS OF OPERATIONS** 

**FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023** 

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  Income: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net premiums and annuity considerations | $114923438 | $125653463 | $135892372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income and amortization of IMR | 55142542 | 51959150 | 46457330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commissions and expense allowances on reinsurance ceded | 7415856 | 6914590 | 5977324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other income | 29 | 319123 | 502769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 177481865 | 184846326 | 188829795 |
|  Benefits and Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Policyholder benefits | 89304839 | 78341900 | 80638052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in reserves | 36831826 | 43037214 | 71206845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commissions | 9626445 | 10378709 | 8968886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating expenses | 26325035 | 22203854 | 26943920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total benefits and expenses | 162088145 | 153961677 | 187757703 |
|  NET INCOME (LOSS) FROM OPERATIONS BEFORE FEDERAL INCOME TAX (BENEFIT) AND NET REALIZED CAPITAL GAIN (LOSS) 15,393,720 30,884,649 1,072,092 |  |  |  |
|  FEDERAL INCOME TAX (BENEFIT) | 4444287 | 5566455 | 2904838 |
|  NET INCOME (LOSS) FROM OPERATIONS BEFORE NET REALIZED CAPITAL GAIN (LOSS) | 10949433 | 25318194 | (1832746) |
|  NET REALIZED CAPITAL GAIN (LOSS)—Net of federal income tax (benefit) of $—, ($329770), and ($875057), and transfers to (from) the IMR of ($2264764), ($2076989), and ($3360584), respectively | (691195) | (474874) | (18265) |
|  NET INCOME (LOSS) | $10258238 | $24843320 | $(1851011) |

---

See notes to statutory financial statements.

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##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)** 

**STATUTORY STATEMENTS OF CHANGES IN SURPLUS** 

**FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023** 

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  CAPITAL STOCK | $2000000 | $2000000 | $2000000 |
|  GROSS PAID—IN AND CONTRIBUTED SURPLUS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balance—beginning of year | 123250000 | 123250000 | 111650000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital contribution |  |  | 11600000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balance—end of year | 123250000 | 123250000 | 123250000 |
|  SPECIAL SURPLUS AND CONTINGENCY RESERVE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balance—beginning of year | 10760741 | 8992757 | 5838136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Admitted disallowed interest maintenance reserve | 1812729 | 1717432 | 2664279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in group contingency life reserve | 1081693 | 50552 | 490342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balance—end of year | 13655163 | 10760741 | 8992757 |
|  UNASSIGNED SURPLUS (DEFICIT): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balance—beginning of year | (20000190) | (49179701) | (39214419) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income (loss) | 10258238 | 24843320 | (1851011) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net deferred income tax | 2678795 | (2143415) | 3596885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nonadmitted assets | (3645161) | 1366292 | (4803060) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve on account of change in valuation basis | 1476441 | 7317845 | (2582411) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset valuation reserve | (84624) | (441132) | (851746) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contingency reserves | (1081693) | (50552) | (490342) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Admitted disallowed interest maintenance reserve | (1812729) | (1717432) | (2664279) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior year adjustments | (3614504) |  | (300000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | (1272) | 4585 | (19318) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balance—end of year | (15826699) | (20000190) | (49179701) |
|  TOTAL SURPLUS | $123078464 | $116010551 | $85063056 |

---

See notes to statutory financial statements.

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##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)** 

**STATUTORY STATEMENTS OF CASH FLOWS** 

**FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023** 

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  CASH FROM (USED FOR) OPERATIONS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net premiums and annuity considerations | $159277817 | $169827387 | $173719114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income | 54496432 | 51290333 | 46495653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous income (loss) | 182382 | 506483 | 770293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Policyholder benefits | (127401690) | (108271839) | (112861937) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net transfers from (to) separate accounts |  | 37710 | (2017) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commissions and operating expenses | (32087130) | (30528182) | (31525589) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal income taxes recovered (paid) from parent | (4347186) | (3247707) | (3498944) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash from (used for) operations | 50120625 | 79614185 | 73096573 |
|  CASH FROM (USED FOR) INVESTMENTS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from investments sold, matured, or repaid: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 120042155 | 119574717 | 134145930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks |  | 1423700 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | 4710256 | 3634001 | 3655952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous proceeds | 75405 | 188650 | 9621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of investments acquired: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | (152995891) | (158926098) | (188787822) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans |  |  | (714286) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets | (2764302) |  | (2607800) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous applications |  | (62276) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net decrease (increase) in contract loans | (1328960) | (2618907) | (1898336) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash from (used for) investments | (32261337) | (36786213) | (56196741) |
|  CASH FROM (USED FOR) FINANCING: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in deposit—type contracts | 191532 | (2946617) | (517846) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital contribution |  | 11600000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cash provided (applied) | (3063763) | (271177) | (25283237) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash from (used for) financing | (2872231) | 8382206 | (25801083) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NET CHANGE IN CASH AND CASH EQUIVALENTS | 14987057 | 51210178 | (8901251) |
|  CASH AND CASH EQUIVALENTS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 55259730 | 4049552 | 12950803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; End of year | $70246787 | $55259730 | $4049552 |

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(Continued)

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**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)** 

**STATUTORY STATEMENTS OF CASH FLOWS** 

**FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023** 

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| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  NON—CASH TRANSACTIONS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ceded premium settled through funds withheld | $46538008 | $44629708 | $41714813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ceded benefits settled through funds withheld | $37294576 | $30264145 | $33477991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ceded commissions settled through funds withheld | $7077045 | $6564568 | $5928068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on funds withheld settled through funds withheld | $2129902 | $1714629 | $1919941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reclass of bonds to other invested assets in accordance with revised bond definition | $998655 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bond conversions disposed to bond conversions acquired | $913998 | $— | $1566395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital contribution through receivable from parent | $— | $— | $11600000 |

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(Concluded)

See notes to statutory financial statements.

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##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United of Omaha Life Insurance Company)** 

**NOTES TO STATUTORY FINANCIAL STATEMENTS** 

**AS OF DECEMBER 31, 2025 AND 2024 AND FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023** 

**1.** **NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

Within this report, the following abbreviations are used for company and affiliate names, if applicable.

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| | | | |
|:---|:---|:---|:---|
| **Legal Name** | **Abbreviation** | **Legal Name** | **Abbreviation** |
| Companion Life Insurance Company | ("the Company") | Mutual of Omaha Holdings, Inc. | ("Mutual of Omaha Holdings") |
| Mutual of Omaha Insurance Company | ("Mutual of Omaha") | Mutual of Omaha Structured Settlement Company | ("Mutual Structured Settlement") |
| Omaha Insurance Company | ("Omaha Insurance") | Cloverlay Sports Assets SPV L.P. | ("Cloverlay") |
| Mutual of Omaha Marketing Corporation | ("MOMCO") | Fulcrum Growth Partners III, L.L.C. | ("Fulcrum") |
| Omaha Health Insurance Company | ("Omaha Health") | Boston Financial Opportunity Zone Fund I LP | ("Boston Fund") |
| Omaha Supplemental Insurance Company | ("Omaha Supplemental") | East Campus Realty, LLC | ("East Campus") |
| United of Omaha Life Insurance Company | ("United of Omaha") | Turner Park North, LLC | ("Turner Park") |
| Companion Life Insurance Company | ("Companion") | MGG Rated Debt Feeder Fund LP | ("MGG Fund") |
| Omaha Reinsurance Company | ("Omaha Re") | MHEG OZ Fund 1, LP | ("MHEG Fund") |
| Medicare Advantage Insurance Company of Omaha | ("Medicare Advantage Company") | Mutual of Omaha Opportunities Fund, L.P. | ("MOOF Fund") |
| United World Life Insurance Company | ("United World") | Enrollment Alliance, LLC | ("Enrollment Alliance, LLC") |
| Omaha Financial Holdings, Inc. | ("OFHI") | Mutual DMLT Holdings, LLC | ("Mutual DMLT Trust") |
| Mutual of Omaha Mortgage, Inc. | ("Mutual of Omaha Mortgage") | United DMLT Holdings, LLC | ("United DMLT Trust") |
| Mutual of Omaha Mortgage Servicing, Inc. | ("MMSI") | Mutual of Omaha Investor Services, Inc. | ("Mutual of Omaha Investor Services") |
| LCN NA Fund IV-D, LP | ("LCN") | Mutual of Omaha Strategic Alliance, LLC | ("MOSAL") |
| EMLT M1 LLC | ("EMLT M1") | EMLT U1 LLC | ("EMLT U1") |
| MOST Mortgage, LLC | ("MOST Mortgage") | Endeavor Mortgage Loan Trust (U) | ("EMLT-U") |
| Discovery Mortgage Loan Trust | ("DMLT Trust") | Endeavor Mortgage Loan Trust (M) | ("EMLT-M") |

---

**Nature of Operations**—The Company is a life, accident and health insurance company, domiciled in the State of New York, and is a wholly owned subsidiary of United of Omaha. United of Omaha is a life, accident and health insurance company, domiciled in the State of Nebraska, and is a wholly owned subsidiary of Mutual of Omaha, a mutual life, accident and health insurance company, domiciled in the State of Nebraska.

The Company has insurance licenses to operate in three states in the United States ("U.S."), which include New York, New Jersey, and Connecticut. Principal products and services provided include individual and group life insurance, annuities, and retirement plans. The Company also has an in force block of individual life insurance and annuities originally sold by agency and brokerage distributions.

The Company holds separate account assets which represent funds held for the benefit of contract holders under specific life and annuity contracts. In accordance with the products recorded within the separate account, assets are legally insulated from the general account.

**Basis of Presentation**—The Company has prepared the accompanying statutory financial statements in conformity with accounting practices prescribed or permitted by the New York State Department of Financial Services ("NYDFS"). The state of New York has adopted the National Association of Insurance Commissioners' ("NAIC") statutory accounting principles ("NAIC SAP") as the basis of its statutory accounting practices. The Superintendent of the NYDFS has the right to permit other specific practices that may deviate from NAIC SAP. The Company utilizes the following permitted practice approved by the NYDFS and prescribed practices required by the NYDFS.

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The NYDFS has granted the Company a permitted practice to calculate the reserves for individual life policies resulting from the exercise of conversion options issued in 2020 and thereafter on a pre New York Regulation 213 basis. This permitted practice did not have more than clearly inconsequential impact on the difference between New York basis and NAIC SAP.

The NYDFS adopted Statement of Statutory Accounting Principles ("SSAP") No. 61, Life, Deposit-type and Accident and Health Reinsurance, with the following addition: If a ceding insurer that receives credit for reinsurance by way of deduction from its reserve liability remits the associated reinsurance premiums for coverage beyond the paid-to-date of the policy, the ceding insurer may record an asset for the portion of the gross reinsurance premium that provides reinsurance coverage for the period from the next policy premium due date to the earlier of: 1) the end of the policy year or 2) the next reinsurance premium due date. The asset shall be admitted as a write-in asset to the extent that the insurer must refund premiums to the ceding insurer in the event of either the termination of the ceded policy or the termination of the reinsurance agreement.

If applicable, the Company increases policy reserves in compliance with the NYDFS cash flow testing methodology requirements and prescribed conditions for universal life insurance policies with secondary guarantees as required per NYDFS Regulation 147 and Special Considerations Letter, which may require greater policy reserves than under NAIC SAP guidelines per SSAP No. 51, Life Contracts.

The following is a reconciliation of the Company's net income (loss) and capital and surplus between the practices prescribed or permitted by the NYDFS and NAIC SAP as of and for the period ended December 31:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **SSAP No.** | **2025** | **2024** | **2023** |
|  Net income (loss), New York basis |  | $10258238 | $24843320 | $(1851011) |
|  NYDFS Regulation 147 and Special Considerations Letter | 51 | (1000000) | (15000000) | 5200000 |
|  New York Circular Letter 11 | 61 | (2342387) | (449384) | 176067 |
|  Net income (loss), NAIC SAP |  | $6915851 | $9393936 | $3525056 |
|  Total surplus, New York basis |  | $123078464 | $116010551 | $85063056 |
|  NYDFS Regulation 147 and Special Considerations Letter | 51 |  | 1000000 | 16000000 |
|  New York Circular Letter 11 | 61 | 2049038 | 4391426 | 4840810 |
|  Total surplus, NAIC SAP |  | $125127502 | $121401977 | $105903866 |

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The accompanying statutory financial statements vary in some respects from those that would be presented in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The most significant differences include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Bonds are stated at amortized cost using the effective yield method, except for certain bonds with an NAIC
designation of 6, which are stated at lower of amortized cost or fair value, while under GAAP, they may be stated at amortized cost or fair value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. An other-than-temporary impairment ("OTTI") exists for NAIC SAP on asset-backed securities
("ABS") if fair value is less than the amortized cost basis and the Company has the intent to sell, does not have the intent and ability to retain the investment for a period of time sufficient to recover the amortized cost basis, or the
Company does not expect to recover the entire amortized cost basis. For all other securities on an NAIC SAP basis, an OTTI is recognized if it is probable that the reporting entity will be unable to collect all amounts due according to the
contractual terms of

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the security in effect at the date of acquisition or since the last OTTI. An OTTI results in a direct write-down to the carrying amount on an NAIC SAP basis. A credit loss exists for GAAP if the present value of a security's cash flows expected to be collected is less than its amortized cost basis amount, with the credit loss limited by the amount that the fair value of the security is less than amortized cost. A credit loss is recorded to an allowance for credit losses for GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. A mortgage loan is impaired for NAIC SAP when it is probable that an entity will be unable to collect all
amounts as contractually due. Impairments are generally determined on an individual basis. For GAAP, a mortgage loan is stated at amortized cost less an allowance for credit losses to present the net amount expected to be collected over the
contractual term of the loan. Collectibility is measured on a collective basis for assets with similar risk characteristics.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. For NAIC SAP, a debt restructuring is considered a troubled debt restructuring ("TDR") if the
borrower is experiencing financial difficulties and the Company has granted a concession it would not otherwise consider. A TDR typically involves a modification of terms such as a change of the interest rate to a below market rate, a forgiveness of
principal or interest, an extended repayment period (maturity date) at a contractual interest rate lower than the current interest rate for new debt with similar risk, or capitalization and deferral of interest payments. The accounting for a TDR is
at the fair value of assets received. For GAAP, recognition of losses from restructurings are captured within the allowance for credit losses and are not recognized separately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Redeemable preferred stocks are stated at amortized cost; except for redeemable preferred stocks that are NAIC
rated 4 through 6, which are stated at lower of amortized cost or fair value. Under GAAP, preferred stocks that are redeemable mandatorily or at the option of the holder are generally stated at their fair value with changes in fair value recognized
in other comprehensive income in equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Premiums deferred and uncollected are recorded as an asset under NAIC SAP, while under GAAP, premiums deferred
and uncollected are offset against liability for future policy benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Acquisition costs, such as commissions and other costs directly related to acquiring new business, are charged
to operations as incurred under NAIC SAP, while under GAAP, to the extent associated with successful sales and recoverable from future policy revenues, these costs are deferred. Deferred acquisition costs for long-duration contracts are amortized to
income on a constant level basis. Deferred acquisition costs for short-duration contracts are amortized to income in proportion to premium revenue recognized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. NAIC SAP requires an amount to be recorded for deferred taxes as a component of surplus; however, there are
limitations as to the amount of deferred tax assets ("DTA") that may be reported as admitted assets that are not applicable under GAAP. Federal income tax provision is required on a current basis for the statutory statements of
operations, the same as for GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. NAIC SAP policy reserves for life insurance contracts and annuities are based on mortality, lapse, and interest
assumptions prescribed or permitted by state statutes. The effect on reserves, if any, due to a change in valuation basis, is recorded directly to unassigned surplus rather than included in the determination of net income (loss) from operations.
GAAP policy reserves are based on the Company's estimates of mortality, lapse, and interest assumptions. Changes in reserves resulting from mortality, morbidity, and lapse assumptions are included in the determination of net income (loss) from
operations while changes in reserves resulting from changes in interest rate assumptions are included in other comprehensive income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. The asset valuation reserve ("AVR") and interest maintenance reserve ("IMR") are
established only on the statutory financial statements.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. Assets are reported under NAIC SAP at admitted asset value and nonadmitted assets are excluded through a charge
to surplus, while under GAAP, nonadmitted assets are reinstated to the balance sheet, net of any valuation allowance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. Premium receipts and benefits on universal life-type contracts and deferred annuities are recorded as income
and expense under NAIC SAP. Under GAAP, revenues on universal life-type contracts and deferred annuities are comprised of contract charges and fees that are recognized when assessed against the policyholder account balance. In addition, certain of
the revenue, as defined under deposit accounting, is deferred and amortized to income over the expected life of the contract using the product's estimated gross profits. Premium receipts and benefits paid are considered deposits and
withdrawals, respectively, and are recorded as or against interest-bearing liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. Reinsurance recoverables on unpaid losses are reported as a reduction of policy reserves under NAIC SAP, while
under GAAP, they are reported as an asset.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. Comprehensive income and its components are not presented on the statutory financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. For loss contingencies, when no amount within management's estimate of the range is a better estimate
than any other amount, the midpoint of the range is accrued. Under GAAP, the minimum amount in the range is accrued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. Gains on economic transactions with related parties, defined as arm's-length transactions, resulting in the transfer of the risks and rewards of ownership, are transferred at fair value and the gain is deferred until the assets are sold to a third-party under NAIC
SAP. While under GAAP, the transaction and any related gain is eliminated in consolidation.

**Use of Estimates**—The preparation of statutory financial statements in accordance with NAIC SAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the statutory financial statements, and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates and assumptions include those used in determining investment valuation in the absence of quoted market values, impairments, policy reserves for life insurance contracts, policy and contract claim reserves, income tax expense, adjustments for OTTI, and deferred taxes.

The process of determining fair value and recoverability of an asset relies on projections of future cash flows, operating results, and market conditions. Projections are inherently uncertain, and accordingly, actual future cash flows may differ materially from projected cash flows. As a result, the Company's asset valuations are susceptible to the risk inherent in making such projections.

Due to the length and complexity of life insurance contracts and annuities and the risks involved, policy reserves calculated using regulatory prescribed or permitted methods and assumptions are often not closely related to the economic liability for the benefits and options promised to policyholders. Reserves are determined using prescribed mortality tables and interest rate assumptions. Prescribed lapse assumptions are permitted on certain universal life-type contracts. Certain guarantees embedded in the contracts are defined formulaically. Actual mortality, lapse, and interest rates, and the nature of the guarantees will differ from prescribed assumptions and definitions.

Reserves for policy and contract claims are estimated based upon the industry and/or company experience and other actuarial assumptions that consider the effects of current developments, anticipated trends, and risk management programs. Revisions of these estimates are reflected in operations in the year they are made.

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**Investments**—Investments are reported according to valuation procedures prescribed by the NAIC.

Bonds are stated at amortized cost using the effective yield method, except for certain bonds with an NAIC designation of 6, which are stated at lower of amortized cost or fair value.

Premiums and discounts on ABS are amortized using the prospective or retrospective method based on anticipated prepayments from the date of purchase. Prepayment assumptions for ABS are based on information obtained from brokers or internal estimates based on original term sheets, offer memoranda, historical performance, or other forecasts. Changes in estimated cash flows due to changes in estimated prepayments are accounted for using the prospective method for impaired securities and securities valued based on an index, and the retrospective method for all other securities.

The Company does not have any investment in perpetual preferred stocks as of December 31, 2025 and 2024.

The Company does not have any investment in affiliated or unaffiliated common stocks as of December 31, 2025 and 2024.

Mortgage loans held for investment are stated at the aggregate unpaid principal balance adjusted for unamortized premium or discount, except impaired loans. Impaired loans are stated at the lower of the amortized cost or the fair value of the loan determined by the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's observable market price, or the fair value of the collateral less costs to sell if collateral dependent. Interest income is accrued on the unpaid principal balance based on the loan's contractual interest rate. The Company records a reserve for losses on mortgage loans as part of the AVR.

The Company calculates specific reserves on loans individually identified as impaired. Loans evaluated individually are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect principal or interest amounts according to the contractual terms of the loan agreement. Interest income earned on impaired loans is accrued on the principal amount of the loan based on the loan's contractual interest rate until the loans are in non-accrual status. Cash payments on loans where the accrual of interest has ceased are applied directly to the unpaid principal balance until such time as management determines that it is probable all principal amounts will be recovered.

Loans are reviewed on an individual basis to identify charge-offs. Charge-offs, net of recoveries, are deducted from the allowance. Mortgage loans are considered past due if the required principal and interest payments have not been received when contractually due. All mortgage loans are in non-accrual status when payments are determined to be uncollectible. Mortgage loans are returned to accrual status when all the principal and interest amounts contractually due have been brought current and future payments are reasonably assured.

A mortgage loan is considered a TDR if the borrower is experiencing financial difficulties and the Company has granted a concession it would not otherwise consider. A TDR typically involves a modification of terms such as a change of the interest rate to a below market rate, a forgiveness of principal or interest, an extended repayment period (maturity date) at a contractual interest rate lower than the current interest rate for new debt with similar risk, or capitalization and deferral of interest payments.

Contract loans are loans to a policyholder, under the provisions of an insurance contract that are secured by the cash surrender value or collateral assignment of the related policy or contract. Contract loans are stated at the unpaid balance of the loan and include any unpaid principal plus accrued interest which is 90 days or more past due.

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Cash equivalents are highly liquid debt securities whose remaining maturities at the time of acquisition is three months or less. Cash equivalents, including money market mutual funds, are stated at cost, which approximates fair value.

Other invested assets include the Company's investments in surplus notes and capital notes. Investments in surplus notes and capital notes are stated at amortized cost.

Net investment income consists primarily of interest and dividends and is included in net investment income and amortization of IMR on the statutory statements of operations. Interest is recognized on an accrual basis and dividends are recorded as earned at the ex-dividend date. Interest income on commercial mortgage-backed securities ("CMBS") and residential mortgage-backed securities ("RMBS"), collectively mortgage-backed securities ("MBS"), and ABS is determined on the effective yield method based on estimated principal repayments. Accrual of income is suspended when securities are in default or when the receipt of interest payments is in doubt. Realized capital gains (losses) on the sale of investments are determined on the specific identification basis.

Investment income due and accrued for which it is probable the balance is uncollectible is written off and charged to investment income and included in net investment income and amortization of IMR on the statutory statements of operations. Investment income due and accrued deemed collectible on mortgage loans in default that is more than 180 days past due is nonadmitted. All other investment income due and accrued deemed collectible that is more than 90 days past due is nonadmitted. The Company accrues interest income on an impaired security to the extent it is deemed collectible and the security continues to perform under its restricted contractual terms. Interest income on a non-performing security is generally recognized on a cash basis.

**Separate Accounts Assets**—The assets of the separate accounts on the statutory statements of admitted assets, liabilities, and surplus are stated at fair value and consist primarily of mutual funds held by the Company for the benefit of contract holders under specific individual annuity and life insurance contracts. Separate account assets are segregated and are not subject to claims that arise out of any other business of the Company. Deposits and premiums received from, and benefits paid to separate account contract holders are reflected on the statutory statements of operations, net of reinsurance, but are offset by transfers to and from the separate account. Mortality, policy administration, and surrender charges from all separate accounts are included in other income on the statutory statements of operations.

**Policy Reserves**—Policy reserves include life insurance contracts and annuity reserves and reserves for deposit-type contracts.

Life insurance contract reserves provide amounts adequate to discharge estimated future obligations in excess of estimated future net premiums on policies in force. Reserves are valued using the Commissioners' Reserve Valuation Method ("CRVM"), a net level premium method ("NLPM"), or other modified reserve methods, with prescribed mortality and interest rates. Reserves for individual fixed annuities and life contingent supplementary contracts are calculated using the Commissioners' Annuity Reserve Valuation Method, with prescribed interest rates. Group annuity reserves are valued using a net single premium method, with prescribed interest rates.

Reserves for deposit-type contracts are equal to deposits received and interest credited to the benefit of contract holders, less withdrawals that represent a return to the contract holder. Reserves for annuities certain and supplementary contracts in payout status without life contingencies are calculated using a NLPM.

The tabular interest, tabular less actual reserve released, and tabular cost are determined by formula as described in the NAIC instructions or from the basic data for such items. Tabular interest on funds not involving life contingencies is equal to the end of year reserve balance, less beginning of year reserve balance, less deposits received during the year, less other net change in reserves, plus fees and other charges assessed, plus surrender charges, plus net surrender and withdrawal payments, plus other net transfers to or from separate accounts, as prescribed.

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**Claim Reserves**—Policy and contract claim reserves include the amounts estimated for claims that have been reported but not settled and estimates for claims incurred but not reported. The liabilities are continually reviewed and adjustments are reflected in the year they are made.

Claim adjustment expenses are accrued and included in general expenses and taxes due or accrued on the statutory statements of admitted assets, liabilities, and surplus.

**Reinsurance**—In the normal course of business, the Company cedes insurance business to its affiliates and unrelated third parties in order to limit its maximum loss, provide greater diversification of risk, minimize exposures on larger risks, and manage capital. The ceding of insurance business does not discharge an insurer from its primary legal liability to a policyholder. The Company remains liable to the extent that a reinsurer is unable to meet its obligations. Amounts recoverable from reinsurers are reviewed for collectibility and length of time overdue on a quarterly basis. Amounts deemed uncollectible are written off through a charge to the statutory statements of operations when the uncollectibility of amounts recoverable from reinsurers is confirmed. Amounts that are overdue are nonadmitted as required. Balances are included on the statutory statements of admitted assets, liabilities, and surplus and the statutory statements of operations, net of reinsurance, except for commissions and expense allowances on reinsurance ceded which are shown as income.

Amounts recoverable from reinsurers are based upon assumptions consistent with those used in establishing the liabilities related to the underlying reinsured contracts. Management believes the amounts recoverable are appropriately established. Premiums due under reinsurance agreements are reported as negative uncollected premium in premiums deferred and uncollected on the statutory statements of admitted assets, liabilities, and surplus. Premiums due under reinsurance agreements with an insolvent reinsurer are reported as other amounts payable on reinsurance as specified in NAIC Interpretation 23-04. See Note 7 for additional details related to the insolvent reinsurer.

**Federal Income Taxes**—The provision for income taxes includes amounts paid and accrued. The Company is subject to income tax in the U.S. and several state jurisdictions. Significant judgments and estimates are required in the determination of the Company's income tax expense, DTAs, and deferred tax liabilities ("DTL").

Deferred taxes are recognized to the extent there are differences between the statutory and tax basis of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in surplus in the period that includes the enactment date. Deferred taxes are also recognized for carryforward items including net operating loss, capital loss, and charitable contributions. NAIC SAP requires that temporary differences and carryforward items be identified and measured. Deductible temporary differences and carryforward amounts that generate tax benefits when they reverse or are utilized are tax affected in determining the DTA. Taxable temporary differences include items that will generate tax expense when they reverse and are tax affected in determining the DTL.

In the determination of the amount of the DTA that can be recognized and admitted, the NAIC SAP requires that DTAs be limited to an amount that is expected to be realized in the future based on an analysis of the Company's temporary differences, past financial history, and future earnings projections. The net admitted DTA shall not exceed the excess of the adjusted gross DTA over the gross DTL. The adjusted gross DTA shall be admitted based upon three separately determined components: i) an amount of taxes paid in prior years which may be recovered through loss carrybacks of existing temporary differences that are expected to reverse within three years from the reporting date; ii) an amount that is limited to the lesser of future deductible temporary differences and carryforward amounts that are expected to be realized within three years from the reporting date, or 15% of adjusted capital and surplus; and iii) an amount where the adjusted gross DTA equals the DTL.

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The Company records uncertain tax positions in accordance with NAIC SAP for those instances where it determines that a tax loss contingency meets a more-likely-than-not threshold based on the technical merits. If the estimated loss contingency is greater than 50% of the tax benefit originally recognized, the entire benefit originally recognized is reported as the tax loss contingency. The Company recognizes interest accrued related to uncertain tax positions and penalties as federal income tax expense. The liability for uncertain tax positions and the associated interest liability, if any, are included in general expenses and taxes due or accrued on the statutory statements of admitted assets, liabilities, and surplus.

**Asset Valuation Reserve and Interest Maintenance Reserve**—The Company establishes certain reserves under NAIC guidelines. The AVR is determined by formula and is based on the Company's investments in bonds, mortgage loans, and other invested assets. This valuation reserve requires appropriation of surplus to provide for possible losses on these investments. Realized capital gains (losses), other than those resulting from interest rate changes, are credited to the AVR. All unrealized capital gains (losses) are charged to the AVR.

The IMR is used to defer realized capital gains (losses), net of tax, on sales of bonds and certain other investments that result from interest rate changes. These gains (losses) are then amortized into net investment income, included in net investment income and amortization of IMR on the statutory statements of operations, over what would have been the remaining years to maturity of the underlying investments. Losses in excess of gains are recorded as an admitted asset up to 10% of the Company's prior period general account adjusted capital and surplus. The prior period general account adjusted capital and surplus is calculated by excluding, if applicable, any positive goodwill, electronic data processing equipment and operating system software, net DTA, and admitted disallowed IMR.

**Net Premiums and Annuity Considerations and Related Commissions**—Net life premiums are recognized as income over the premium-paying period of the policies. Annuity considerations are recognized as income when received. Considerations received on deposit-type funds, which do not contain any life contingencies, are recorded directly to the related liability. Commissions and other expenses related to the acquisition of policies are charged to operations as incurred.

**Nonadmitted Assets**—Certain assets designated as nonadmitted assets, principally net deferred tax assets and suspense items, are excluded from the statutory statements of admitted assets, liabilities, and surplus. The net change in such assets is charged or credited directly to unassigned surplus.

**Vulnerability Due to Certain Risks and Concentrations**—The following is a description of the most significant risks facing life insurers and how the Company manages those risks:

Mortality risk is the risk that experience is unfavorable compared to Company assumptions due to misestimation in setting assumptions, catastrophic risk (e.g. pandemic), volatility, and changes in trend. The Company mitigates these risks through reinsurance programs, adherence to strict underwriting guidelines, monitoring underwriting exceptions, and a formal assumption review and approval process.

Legal/regulatory risk is the risk that changes in the legal or regulatory environment in which an insurer operates will occur and create additional costs or expenses not anticipated by the insurer in pricing its products. The Company monitors economic and regulatory developments that have the potential to impact its business.

Interest rate risk is the risk that interest rates will change and cause a decrease in the value of an insurer's investments or cause changes in policyholder behavior resulting in changes in asset or liability cash flows. The Company mitigates this risk through various asset-liability management techniques, including duration matching and matching the maturity schedules of its assets with the expected payouts of its liabilities. To the extent that liabilities come due more quickly than assets mature, the Company may have to sell assets prior to maturity and recognize a gain or loss.

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Credit risk is the risk that issuers of securities owned by the Company will default, or that other parties, including reinsurers who owe the Company money, will not pay. The Company has policies regarding the financial stability and credit standing of its counterparties. The Company attempts to limit its credit risk by dealing with creditworthy counterparties and obtaining collateral where appropriate.

Liquidity risk is the risk that a given security or asset cannot be traded quickly enough in the market to prevent a loss, generate cash to meet funding requirements, or make a required profit. The Company has established an appropriate liquidity risk management framework to evaluate current and future funding and liquidity requirements. Future liquidity requirements are projected on a regular basis as part of the financial planning process.

**Premiums Received in Advance**—Premiums received in advance are those premiums that have been received by the Company prior to year end but which were due after year end. The total amount of advanced premiums is reported as a liability on the statutory statements of admitted assets, liabilities, and surplus and is not considered premium income until due.

**Fair Value**—Financial assets and liabilities have been categorized into a three-level fair value hierarchy, based on the priority of the inputs to the respective 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). An asset or liability's classification within the fair value hierarchy is based on the lowest level of significant input to valuation. The input levels are as follows:

*Level 1*—Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities. These generally provide the most reliable evidence and are used to measure fair value whenever available.

*Level 2*—Fair value is based on significant inputs that are observable for the asset or liability, either directly or indirectly, through corroboration with observable market data. Level 2 inputs include quoted market prices in active markets for similar assets and liabilities, quoted market prices in markets that are not active for identical or similar assets or liabilities, and other market observable inputs. Valuations are generally obtained from third-party pricing services for identical or comparable assets or liabilities and validated or determined through use of valuation methodologies using observable market inputs.

*Level 3*—Fair value is based on significant unobservable inputs for the asset or liability. These inputs reflect assumptions about what market participants would use in pricing the asset or liability. Prices are determined using valuation methodologies such as option pricing models, discounted cash flow models, and other similar techniques.

**Other-Than-Temporary Declines in Fair Value**—The Company regularly reviews its investment portfolio for factors that may indicate that a decline in fair value of an investment is other-than-temporary. Some factors considered in evaluating whether or not a decline in fair value is other-than-temporary include the Company's ability and intent to retain the investment for a period of time sufficient to allow for a recovery in value, the Company's intent to sell the investment at the reporting date, and the financial condition and prospects of the issuer.

The Company recognizes OTTI of bonds not backed by loans when it is either probable that the Company will not collect all amounts due according to the contractual terms of the bond in effect at the date of acquisition or when the Company has made a decision to sell the bond prior to its maturity at an amount below its amortized cost. When an OTTI is recognized, the bond is written down to fair value and the amount of the write down is recorded as a realized capital gain (loss) on the statutory statements of operations.

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For ABS, OTTI is recognized when fair value is less than the amortized cost basis and the Company has the intent to sell or lacks the intent and ability to retain the investment until recovery. When an OTTI is recognized because the Company has the intent to sell or lacks the intent and ability to retain the investment until recovery, the amortized cost basis of the ABS is written down to fair value and the amount of the write-down is recorded as a realized capital gain (loss) on the statutory statements of operations.

If the Company does not have the intent to sell and has the intent and ability to retain the investment until recovery, OTTI is recognized when the present value of future cash flows discounted at the security's effective interest rate is less than the amortized cost basis as of the statutory statements of admitted assets, liabilities, and surplus date. When an OTTI is recognized, the ABS is written down to the discounted estimated future cash flows and is recorded as a realized capital gain (loss) on the statutory statements of operations.

If applicable, the Company recognizes OTTI of preferred stocks for declines in value that are other-than-temporary and reports those adjustments as a realized capital gain (loss) on the statutory statements of operations.

The Company performs a monthly analysis of the prices received from third parties to assess if the prices represent a reasonable estimate of fair value. This process involves quantitative and qualitative analysis and is overseen by investment and accounting professionals.

**Correction of Errors**—During 2025, the Company identified and corrected certain errors related to prior period financial statements. In accordance with SSAP No. 3, Accounting Changes and Corrections of Errors ("SSAP No. 3"), the cumulative effect of these corrections were recorded as an adjustment to unassigned deficit: change in prior year adjustments on the statutory statements of changes in surplus in the period the error was identified. The aggregate understatement of unassigned deficit on the statutory statements of admitted assets, liabilities, and surplus as of December 31, 2024 was $3,614,504. The errors and related impacts are detailed below:

The Company made required minimum distribution payments attributable to prior periods for the single premium immediate fixed annuity product, resulting in a $1,192,223 understatement of policyholder benefits on the statutory statements of operations, understatement of other liabilities on the statutory statements of admitted assets, liabilities, and surplus, and a corresponding understatement of unassigned deficit on the statutory statements of admitted assets, liabilities, and surplus as of December 31, 2024.

Corrected certain no lapse guarantee interest rates for life reserves. This resulted in a $2,422,281 understatement in policy reserves: life insurance contracts and annuity reserves on the statutory statements of admitted assets, liabilities, and surplus, understatement of net change in reserves on the statutory statements of operations, and a corresponding understatement of unassigned deficit on the statutory statements of admitted assets, liabilities, and surplus as of December 31, 2024.

During 2024, the Company did not have any prior year adjustments recorded to unassigned surplus on the statutory statements of admitted assets, liabilities, and surplus.

During 2023, the Company discovered an error in the asset adequacy testing models used to set New York Regulation 126 reserves, resulting in a net $300,000 understatement of life insurance contracts and annuity reserves on the statutory statements of admitted assets, liabilities, and surplus, an understatement of net change in reserves on the statutory statements of operations, and a corresponding overstatement of unassigned deficit on the statutory statements of admitted assets, liabilities, and surplus as of December 31, 2022. In accordance with SSAP No. 3, Accounting Changes and Corrections of Errors, the impact of the error was recorded as an adjustment to unassigned deficit on the statutory statements of admitted assets, liabilities, and surplus in 2023.

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**Accounting Pronouncements**—In August 2025, the NAIC adopted revisions to SSAP No. 61 Life, Deposit-Type and Accident and Health Reinsurance and Appendix A-791. The revised guidance clarifies the evaluation of whether a reinsurance agreement/contract transfers risk under statutory accounting. The guidance is effective immediately for new/newly revised contracts and the impact of adoption was immaterial to the Company's financial statements. The guidance is effective December 31, 2026 for existing contracts and the Company is currently evaluating the impact this guidance will have on the Company's financial statements.

In March 2025, the NAIC adopted revisions to SSAP No. 1 Accounting Policies, Risks and Uncertainties, and Other Disclosures requiring modified coinsurance ("modco") and funds withheld assets to be reported as restricted assets within the notes to the financial statements. See additional disclosures included in Note 2 to the statutory financial statements.

In August 2023, the NAIC issued revisions to SSAP No. 26 Bonds and SSAP No. 43 Asset-Backed Securities, effective January 1, 2025. The revised guidance updates the definition of a bond, revises the accounting and reporting for bonds, and updates various SSAPs to reflect the revised bond definition. Under the bond definition revisions, the carrying value of securities reclassified from bonds to another investment category was $998,655. There was no change in measurement basis after transition for the securities reclassified and no impact to surplus as a result of this reclassification. In December 2024 and August 2025, the NAIC adopted revisions to SSAP No. 26, Bonds, effective January 1, 2025, that revised the information presented in the annual audited financial statements, including category changes to both the bonds by type table and the contractual maturity table. See Note 2 to the statutory financial statements for the updated disclosures.

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**2.** **INVESTMENTS** 

**Bonds**—The carrying value and fair value of investments in bonds, including ABS, by type, as of December 31, were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **2025** | **Carrying**<br> **Value** | **Gross<br>Unrealized**<br> **Capital**<br> **Gain** | **Gross<br>Unrealized**<br> **Capital**<br> **Loss** | **Fair**<br> **Value** |
|  Issuer credit obligations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds—unaffiliated | $843955354 | $6772008 | $103289068 | $747438294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal bonds—general obligations<br>(direct and guaranteed) | 8273566 |  | 987191 | 7286375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds — Special Revenue | 115067836 | 1770904 | 20982257 | 95856483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project finance bonds issued by operating entities—unaffiliated | 253006 | 288 |  | 253294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Single entity backed obligations—unaffiliated | 1514912 |  | 173912 | 1341000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. government obligations (exempt from RBC) | 32885397 | 4340 | 443643 | 32446094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total issuer credit obligations | 1001950071 | 8547540 | 125876071 | 884621540 |
|  ABS: |  |  |  |  |
|  Financial ABS—self liquidating: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agency CMBS—guaranteed (exempt from RBC) | 9354106 | 20645 | 332457 | 9042294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agency CMBS—not/partially guaranteed<br>(not exempt from RBC) | 3946195 |  | 72237 | 3873958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agency RMBS—guaranteed (exempt from RBC) | 10837078 | 64882 | 1406450 | 9495510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agency RMBS—not/partially guaranteed<br>(not exempt from RBC) | 55454544 | 1321123 | 2441617 | 54334050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non—agency CMBS—unaffiliated | 5747890 | 102205 | 90296 | 5759799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non—agency RMBS—unaffiliated | 30017377 | 203679 | 2663735 | 27557321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial ABS—unaffiliated | 13670794 | 143873 | 661328 | 13153339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total ABS—financial—self liquidating | 129027984 | 1856407 | 7668120 | 123216271 |
|  Non—financial ABS—practical expedient: |  |  |  |  |
|  Lease—backed transactions—unaffiliated | 9322106 | 70218 | 90156 | 9302168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other non—financial ABS—unaffiliated | 15205560 | 281187 | 297349 | 15189398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total non—financial ABS—practical expedient | 24527666 | 351405 | 387505 | 24491566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total ABS | 153555650 | 2207812 | 8055625 | 147707837 |
|  Total | $1155505721 | $10755352 | $133931696 | $1032329377 |
| **2024** | **Carrying**<br> **Value** | **Gross<br>Unrealized<br>Capital**<br> **Gain** | **Gross<br>Unrealized<br>Capital**<br> **Loss** | **Fair**<br> **Value** |
|  U.S. governments | $19736175 | $8040 | $2356525 | $17387690 |
|  Political subdivisions | 15493082 | 23615 | 2648362 | 12868335 |
|  Special revenue/assessment obligations | 157687268 | 978307 | 26301593 | 132363982 |
|  Industrial and miscellaneous | 929382371 | 2928816 | 125905318 | 806405869 |
|  Hybrid securities | 3498655 | 2369 | 672650 | 2828374 |
|  Total | $1125797551 | $3941147 | $157884448 | $971854250 |

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There were no bonds with an NAIC designation of 6 as of December 31, 2025 and 2024.

Based upon designations by the NAIC, investment grade bonds comprised 100% of the carrying value of the Company's total bond portfolio as of December 31, 2025 and 2024.

The carrying value and fair value of investment in bonds as of December 31, 2025, by contractual maturity, are shown below. Actual maturities may differ as a result of prepayments by the issuer. ABS, which provide for periodic payments throughout their lives, are listed separately.

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| | | |
|:---|:---|:---|
|  | **Carrying**<br> **Value** | **Fair**<br> **Value** |
|  Issuer credit obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due in one year or less | $31899296 | $31812243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due after one year through five years | 105195251 | 104032701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due after five years through ten years | 153661964 | 153362763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due after ten years through twenty years | 307777976 | 285711671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due over twenty years | 403415584 | 309702162 |
|  Total issuer credit obligations | 1001950071 | 884621540 |
|  ABS: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due in one year or less | 151671 | 151558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due after one year through five years | 32660726 | 32097239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due after five years through ten years | 13924852 | 13811990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due after ten years through twenty years | 48230649 | 45492980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due over twenty years | 58587752 | 56154070 |
|  Total ABS | 153555650 | 147707837 |
|  Total | $1155505721 | $1032329377 |

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Aging of unrealized capital losses on the Company's investments in bonds as of December 31, was as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Less than One Year** | **Less than One Year** | **One Year or More** | **One Year or More** | **Total** | **Total** |
| **2025** | **Fair**<br> **Value** | **Gross<br>Unrealized**<br> **Capital**<br> **Loss** | **Fair**<br> **Value** | **Gross<br>Unrealized**<br> **Capital**<br> **Loss** | **Fair**<br> **Value** | **Gross<br>Unrealized**<br> **Capital**<br> **Loss** |
|  Issuer Credit Obligations | $72093080 | $1116775 | $566910982 | $124759296 | $639004062 | $125876071 |
|  ABS | 5401277 | 98724 | 76821410 | 7956901 | 82222687 | 8055625 |
|  Total | $77494357 | $1215499 | $643732392 | $132716197 | $721226749 | $133931696 |
|  | **Less than One Year** | **Less than One Year** | **One Year or More** | **One Year or More** | **Total** | **Total** |
| **2024** | **Fair**<br> **Value** | **Gross<br>Unrealized**<br> **Capital**<br> **Loss** | **Fair**<br> **Value** | **Gross<br>Unrealized**<br> **Capital**<br> **Loss** | **Fair**<br> **Value** | **Gross<br>Unrealized**<br> **Capital**<br> **Loss** |
|  U.S. governments | $2512843 | $37682 | $14625505 | $2318843 | $17138348 | $2356525 |
|  Political subdivisions | 6903700 | 500417 | 5602055 | 2147945 | 12505755 | 2648362 |
|  Special revenue/assessment obligations | 37026974 | 1074609 | 75335300 | 25226984 | 112362274 | 26301593 |
|  Industrial and miscellaneous | 152648714 | 4601254 | 538798316 | 121304064 | 691447030 | 125905318 |
|  Hybrid securities |  |  | 1826005 | 672650 | 1826005 | 672650 |
|  Total | $199092231 | $6213962 | $636187181 | $151670486 | $835279412 | $157884448 |

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As described in Note 1, the Company regularly reviews its investment portfolio for factors that may indicate that a decline in fair value of an investment is other-than-temporary. As of December 31, 2025, 437 securities were in an unrealized capital loss position one year or more with an average credit rating of A2 and were 100% investment grade. As of December 31, 2025, 32 securities were in an unrealized capital loss position less than one year with an average credit rating of Aa3 and were 100% investment grade. The Company does not believe the unrealized losses on investments represent an OTTI as of December 31, 2025.

The total recorded investment in restructured bonds as of December 31, 2025 was $827,213. There was no investment in restructured bonds as of December 31, 2024.

Net realized capital losses for the years ended December 31, 2025 include losses of $91,913, resulting from other-than-temporary declines in fair value of bonds or changes in expected cash flows, and are not included in the table above. These net realized capital losses relate to the Company's investment in restructured bonds. There were no net realized capital losses for the years ended December 31, 2024 and 2023, resulting from other-than-temporary declines in fair value of bonds or changes in expected cash flows.

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Proceeds and the gross realized capital gains (losses) from the sales or disposals of bonds resulting in net realized capital gains (losses) for the years ended December 31, were as follows:

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| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  Proceeds from sales or disposals: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | $79870366 | $98587075 | $111752381 |
|  Net realized capital gain (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross realized capital gain from sales or other disposals | $1004414 | $798624 | $1155240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross realized capital loss from sales or other disposals | (3868460) | (3868907) | (5409146) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTTI gain (loss) | (91913) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized capital gain (loss) of bonds | $(2955959) | $(3070283) | $(4253906) |

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As of December 31, 2025 and 2024, the Company's admitted disallowed IMR was $6,194,441 and $4,381,711, respectively, less than 10% of the Company's adjusted and unadjusted general account capital and surplus as of September 30, 2025 and 2024. The admitted disallowed IMR was the result of fixed income investment losses that comply with the Company's investment management policies, was not compelled by liquidity pressures, and did not include any realized losses from derivative terminations. There were no nonadmitted components of the Company's IMR as of December 31, 2025 and 2024.

The Company's adjusted general account capital and surplus as of September 30, 2025 and 2024, used to determine admitted disallowed IMR, as of December 31, was as follows:

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| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  Prior period general account capital and surplus | $121370009 | $92068167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net DTA | 4168213 | 4495310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Admitted disallowed IMR | 5852498 | 3825728 |
|  Total | $111349298 | $83747129 |

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The percentage of admitted disallowed IMR to adjusted general account capital and surplus was 5.56% and 5.23% as of December 31, 2025 and 2024, respectively.

**Mortgage Loans**—The Company invests in mortgage loans collateralized principally by commercial real estate throughout the U.S. The Company's investments in mortgage loans are held through a participation agreement with United of Omaha. There were no new commercial loans purchased in 2025 or 2024. During 2025 and 2024, the maximum percentage of any one commercial loan to the value of the collateral security at the time of the loan, exclusive of insured guaranteed or purchase money mortgages was 56% and 57%, respectively.

The Company participates or is a co-lender in mortgage loan agreements with other lenders for commercial mortgage loans. These amounts were $7,305,606 and $10,403,529 as of December 31, 2025 and 2024, respectively. Of this amount, there was no investment in impaired loans related to these arrangements, for which no allowance for credit losses was recorded. The Company was not subject to a participant or co-lender mortgage loan agreement for which the Company is restricted from unilaterally foreclosing on the mortgage loan as of December 31, 2025 or 2024.

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The Company's mortgage loan portfolio includes 16 and 17 loan originators as of December 31, 2025 and December 31, 2024, respectively. Mortgage loan participation purchased from one loan originator comprise of approximately 15% of the portfolio book value as of December 31, 2025 and 2024. The properties collateralizing mortgage loans are geographically dispersed throughout the U.S., with the largest concentration in California and Virginia, with 19% and 13% of the portfolio, respectively, as of December 31, 2025, and 20% and 12% of the portfolio, respectively, as of December 31, 2024.

*Credit Quality Indicators*—For purposes of monitoring the credit quality and risk characteristics, the Company considers the current debt service coverage, loan to value ratios, leasing status, average rollover, loan performance, guarantees, and current rents in relation to current markets. The debt service coverage ratio compares a property's cash flow to amounts needed to service the principal and interest due under the loan. The credit quality indicators are updated annually or more frequently if conditions warrant based on the Company's credit monitoring process.

The recorded investment (defined as the aggregate unpaid principal balance adjusted for unamortized premium or discount) in commercial mortgage loans, by credit quality profile, as of December 31, was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Debt Service Coverage Ratios** | **Debt Service Coverage Ratios** | **Debt Service Coverage Ratios** | **Debt Service Coverage Ratios** |
| **2025** | **>1.20x** | **1.00x-1.20x** | **<1.00x** | **Total** |
|  Loan—to—value ratios: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less than 65% | $30620023 | $339281 | $68107 | $31027411 |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Debt Service Coverage Ratios** | **Debt Service Coverage Ratios** | **Debt Service Coverage Ratios** | **Debt Service Coverage Ratios** |
| **2024** | **>1.20x** | **1.00x-1.20x** | **<1.00x** | **Total** |
|  Loan—to—value ratios: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less than 65% | $34061695 | $1589575 | $86397 | $35737667 |

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There were no mortgage loans with a loan-to-value ratio greater than 65% for the years ended December 31, 2025 and 2024.

*Non-Accrual and Past Due Loans*—All of the Company's loans were in current status as of December 31, 2025 and 2024. The recorded investment for loans where the interest rate was reduced was $892,353 and $1,959,709 as of December 31, 2025 and 2024, respectively. For the year ended December 31, 2025, the number of loans impacted, and the average interest rate reduction was 1 loan and 0.01%, respectively. For the year ended December 31, 2024, the number of loans impacted, and the average interest rate reduction was 2 loans and 0.80%, respectively.

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**Restricted Assets**—Information related to the Company's investment in restricted assets as of December 31, was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | | | **Percentage** | **Percentage** |
| **2025** | **Gross<br>Restricted<br>Assets** | **Total<br>Admitted<br>Restricted<br>Assets** | **Gross<br>Restricted<br>to Total<br>Assets** | **Admitted**<br> **Restricted<br>to Total<br>Admitted<br>Assets** |
|  On deposit with states | $239994 | $239994 | 0.02% | 0.02% |
|  Assets held under funds withheld reinsurance agreements | 67722093 | 67722093 | 4.82% | 4.96% |
|  Total | $67962087 | $67962087 | 4.84% | 4.98% |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | | | **Percentage** | **Percentage** |
| **2024** | **Gross<br>Restricted<br>Assets** | **Total<br>Admitted<br>Restricted<br>Assets** | **Gross<br>Restricted<br>to Total<br>Assets** | **Admitted**<br> **Restricted<br>to Total<br>Admitted<br>Assets** |
|  On deposit with states | $229785 | $229785 | 0.02% | 0.02% |

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Information related to collateral received and reflected as assets within the Company's statutory statements of admitted assets, liabilities, and surplus as of December 31, 2025 was as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | **Percentage** | **Percentage** |
|  | **Carrying Value** | **Carrying Value** | **Fair Value** | **Fair Value** | **Carrying Value** | **Carrying Value** |
|  | **Collateral** | **Funds<br>Withheld** | **Collateral** | **Funds<br>Withheld** | **Assets** | **Admitted<br>Assets** |
|  General account: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | $— | $57900 | $— | $57900 | —% | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds - issuer credit obligations |  | 67664193 |  | 60741001 | 4.83 | 4.97 |
|  Total | $— | $67722093 | $— | $60798901 | 4.83% | 4.97% |

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**Net Investment Income and Amortization of IMR**—The sources of net investment income (loss) and amortization of IMR for the years ended December 31, were as follows:

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| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  Bonds | $50667890 | $47683202 | $42466676 |
|  Preferred stocks |  | 57784 | 57945 |
|  Mortgage loans | 1423105 | 1620224 | 1724231 |
|  Contract loans | 2019527 | 1965916 | 1848934 |
|  Cash | 1104683 | 339882 | 210890 |
|  Short—term investments | 883154 | 994080 | 625104 |
|  Other | 691315 | 501602 | 416489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross investment income | 56789674 | 53162690 | 47350269 |
|  Amortization of IMR | (452034) | (359557) | (177881) |
|  Investment expenses | (1195098) | (843983) | (715058) |
|  Net investment income and amortization of IMR | $55142542 | $51959150 | $46457330 |

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As of December 31, 2025 and 2024, the gross asset and net admitted asset amount for interest income due and accrued was $11,488,815 and $11,107,909, respectively. As of December 31, 2025 and 2024, there was not any aggregate deferred interest and investment income due and accrued excluded from surplus, or cumulative amounts of paid-in-kind interest included in the cumulative principal balance.

**3.** **ASSET-BACKED SECURITIES** 

Aging of unrealized capital losses on the Company's ABS as of December 31, was as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Less than One Year** | **Less than One Year** | **One Year or More** | **One Year or More** | **Total** | **Total** |
| **2025** | **Fair**<br> **Value** | **Gross<br>Unrealized<br>Capital Loss** | **Fair<br>Value** | **Gross<br>Unrealized<br>Capital**<br> **Loss** | **Fair<br>Value** | **Gross<br>Unrealized<br>Capital**<br> **Loss** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABS—financial—self liquidating | $— | $— | $69220191 | $7668120 | $69220191 | $7668120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non—financial ABS—practical expedient | 5401277 | 98724 | 7601219 | 288781 | 13002496 | 387505 |
|  Total | $5401277 | $98724 | $76821410 | $7956901 | $82222687 | $8055625 |
|  | **Less than One Year** | **Less than One Year** | **One Year or More** | **One Year or More** | **Total** | **Total** |
| **2024** | **Fair**<br> **Value** | **Gross<br>Unrealized<br>Capital<br>Loss** | **Fair<br>Value** | **Gross<br>Unrealized<br>Capital**<br> **Loss** | **Fair<br>Value** | **Gross<br>Unrealized<br>Capital**<br> **Loss** |
|  MBS: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial | $6366382 | $245896 | $9645248 | $713470 | $16011630 | $959366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential | 28277236 | 655387 | 43564417 | 8091221 | 71841653 | 8746608 |
|  | 34643618 | 901283 | 53209665 | 8804691 | 87853283 | 9705974 |
|  Other ABS | 5648268 | 243257 | 21064873 | 1814960 | 26713141 | 2058217 |
|  Total | $40291886 | $1144540 | $74274538 | $10619651 | $114566424 | $11764191 |

---

A portion of the ABS portfolios are backed by collateral guaranteed or insured by a government agency. As of December 31, 2025, 52% of the carrying value of the ABS portfolio was guaranteed by a government agency. As of December 31, 2024, 70% of the carrying value of the RMBS portfolio and 69% of the carrying value of the CMBS portfolio was guaranteed by a government agency.

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##### [**Table of Contents**](#toc)
There was no OTTI on ABS related to the intent to sell, inability or lack of intent to hold for a period of time sufficient to recover the amortized cost basis, or based on the present value of future cash flows expected to be less than amortized cost of the security during 2025 and 2024.

**4.** **FAIR VALUE MEASUREMENTS** 

The categorization and input level of the Company's financial instruments measured and reported at fair value, as of December 31, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2025** | **Quoted Prices in Active<br>Markets for Identical<br>Assets or Liabilities<br>(Level 1)** | **Significant Other<br>Observable<br>Inputs**<br> **(Level 2)** | **Significant<br>Unobservable<br>Inputs**<br> **(Level 3)** | **Total** |
|  Assets at fair value: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate accounts | $— | $4347683 | $— | $4347683 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2024** | **Quoted Prices in Active<br>Markets for Identical<br>Assets or Liabilities<br>(Level 1)** | **Significant Other<br>Observable<br>Inputs**<br> **(Level 2)** | **Significant<br>Unobservable<br>Inputs**<br> **(Level 3)** | **Total** |
|  Separate accounts | $– $| 3930561 | $– $| 3930561 |

---

A description of the significant inputs and valuation techniques used to determine fair value for Level 2 assets and liabilities on a recurring basis is as follows:

**Level 2 Measurements**

*Separate Accounts—*Separate accounts are comprised primarily of mutual funds and are valued at the separate account's proportionate share of the funds' underlying net assets. The underlying asset's fair value is determined by the market approach using adjusted quoted process in public exchanges or other active markets for identical assets.

**Fair Value of Financial Instruments—**The carrying value, fair value, and fair value hierarchy level of the Company's financial instruments as of December 31, were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **2025** | **Carrying**<br> **Value** | **Fair**<br> **Value** | **Level 1** | **Level 2** | **Level 3** | **Not Practicable**<br> **(Carrying Value)** |
|  Financial assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuer credit obligations | $1001950071 | $884621540 | $— | $883482476 | $1139065 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABS | $153555650 | $147707837 | $— | $147326707 | $381129 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | $31027411 | $30064308 | $— | $— | $30064308 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract loans | $40288480 | $40288480 | $— | $— | $— | $40288480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | $70246787 | $70244761 | $70244761 | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets—surplus notes | $14558697 | $11796153 | $— | $11796153 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets—capital notes | $998722 | $792423 | $— | $792423 | $— | $— |
|  Financial liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposit—type contracts | $6350664 | $6350664 | $— | $— | $6350664 | $— |

---

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##### [**Table of Contents**](#toc)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **2024** | **Carrying**<br> **Value** | **Fair**<br> **Value** | **Level 1** | **Level 2** | **Level 3** | **Not Practicable**<br> **(Carrying Value)** |
|  Financial assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | $1125797551 | $971854250 | $— | $970904692 | $949558 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | $35737667 | $33820129 | $— | $— | $33820129 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract loans | $38962871 | $38962871 | $— | $— | $— | $38962871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash | $55259730 | $55259730 | $55259730 | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets—surplus notes | $11777300 | $8766137 | $— | $8766137 | $— | $— |
|  Financial liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposit—type contracts | $6159132 | $6159132 | $— | $— | $6159132 | $— |

---

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

*Issuer Credit Obligations and ABS ("Bonds")—*Fair values for bonds are based on quoted market prices, where available. For bonds for which market values are not readily available, fair values were estimated by the Company using projected future cash flows, current market rates, credit quality, and maturity date.

*Mortgage Loans—*Fair values for mortgage loans are estimated by discounting expected future cash flows using current interest rates for similar loans with similar credit risk.

*Contract Loans—*Contract loans are stated at the aggregate unpaid balance plus any accrued interest which is 90 days or more past due. It is not practicable to determine fair value as contract loans are often repaid by reducing the policy benefits and have variable maturity dates. As of December 31, 2025 and 2024, the effective interest rates were 5.22% and 5.24%, respectively.

*Cash and Cash Equivalents—*The carrying value for cash and cash equivalents approximates fair value.

*Other Invested Assets-Surplus Notes and Capital Notes*—Fair values are based on evaluated prices received from third-party providers. The evaluated prices are based on analytical evaluations using models and comparables.

*Deposit-Type Contracts—*Fair values of guaranteed interest contracts, annuities, and supplementary contracts without life contingencies in payout status are estimated by calculating an average present value of expected cash flows over a broad range of interest rate scenarios using the current market risk-free interest rates adjusted for spreads required for publicly traded bonds issued by comparably rated insurers. The carrying amount for all other deposit-type contracts approximates fair value.

**5.** **INCOME TAXES** 

The Company is part of an affiliated group of corporations that files a consolidated U.S. Corporate Income Tax Return. As of December 31, 2025, the Company's federal income tax return was consolidated with the following affiliates: Mutual of Omaha; Mutual DMLT Trust; Mutual of Omaha Holdings and its subsidiaries; OFHI and certain of its subsidiaries including MMSI; Mutual of Omaha Mortgage and its subsidiary Review Counsel LLC; Omaha Health; Omaha Supplemental; and United of Omaha and certain of its subsidiaries including Medicare Advantage Company; Mutual Structured Settlement; Omaha Re; United DMLT Trust; and United World. The Company also files state income tax returns in certain jurisdictions.

Federal income tax is allocated between the members of the consolidated return pursuant to a written agreement approved by the Board of Directors. The Company's provision for federal income tax incurred is based on a separate return calculation wherein the current tax benefit for net operating losses, capital losses, charitable contributions, and credits are not included until such would have been recognized on a separate return basis.

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##### [**Table of Contents**](#toc)
There were no deposits reported as admitted under Section 6603 of the Internal Revenue Service Code as of December 31, 2025 and 2024.

The Inflation Reduction Act, enacted August 16, 2022, included a new corporate alternative minimum tax effective for years beginning after 2022. The Company has determined that it is a non-applicable reporting entity.

Federal income tax (benefit) incurred for the years ended December 31, consisted of the following major components:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  Current federal income tax (benefit) | $4444287 | $5566455 | $2904838 |
|  Federal income tax (benefit) on net realized capital gain (loss) |  | (329770) | (875057) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total federal income tax (benefit) | 4444287 | 5236685 | 2029781 |
|  Change in net deferred income tax | (2678795) | 2143415 | (3596885) |
|  Total federal income tax (benefit) incurred | $1765492 | $7380100 | $(1567104) |

---

Reconciliations between federal income tax (benefit) based on the federal corporate income tax rate and the effective tax rate for the years ended December 31, were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  Net income (loss) from operations before federal income tax (benefit) and net realized capital gain (loss) | $15393720 | $30884649 | $1072092 |
|  Net realized capital gain (loss) before federal income tax (benefit) and transfers to (from) IMR | (2955959) | (2881633) | (4253906) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total pre—tax income (loss) | 12437761 | 28003016 | (3181814) |
|  Statutory tax rate | 21% | 21% | 21% |
|  Expected federal income tax (benefit) incurred | 2611930 | 5880633 | (668181) |
|  Amortization of IMR | 94927 | 75507 | 37355 |
|  Nonadmitted tax assets in surplus | (408921) | (13936) | (247368) |
|  Reserve adjustments to surplus | (449282) | 1537739 | (609136) |
|  Non-taxable investment income | (88112) | (96282) | (96752) |
|  Other | 4950 | (3561) | 16978 |
|  Total federal income tax (benefit) at effective tax rate | $1765492 | $7380100 | $(1567104) |

---

There were no net operating loss carryforwards as of December 31, 2025.

The Company does not have any income taxes incurred in the current and prior years that will be available for recoupment in the event of future net losses.

As of December 31, 2025, there were no positions for which management believes it is reasonably possible that the total amounts of tax contingencies will significantly increase within twelve months of the reporting date.

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##### [**Table of Contents**](#toc)
The components of DTA and DTL as of December 31, were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** |
|  | **Ordinary** | **Capital** | **Total** |
|  Gross DTA | $40212820 | $589886 | $40802706 |
|  Nonadmitted DTA | (33882581) | (85533) | (33968114) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net admitted DTA | 6330239 | 504353 | 6834592 |
|  DTL | (1198654) | (504353) | (1703007) |
|  Net DTA (DTL) | $5131585 | $— | $5131585 |
|  | **2024** | **2024** | **2024** |
|  | **Ordinary** | **Capital** | **Total** |
|  Gross DTA | $38612915 | $— | $38612915 |
|  Nonadmitted DTA | (32270197) |  | (32270197) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net admitted DTA | 6342718 |  | 6342718 |
|  DTL | (2192011) |  | (2192011) |
|  Net DTA (DTL) | $4150707 | $— | $4150707 |

---

The Company has admitted DTAs as of December 31, as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** |
|  | **Ordinary** | **Capital** | **Total** |
|  Federal income tax paid in prior years recoverable through loss carrybacks | $— | $— | $— |
|  Adjusted gross DTA expected to be realized (lesser of 1 or 2) | $5131585 | $— | $5131585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross DTA expected to be realized following the balance sheet date | $5131585 | $— | $5131585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross DTA allowed per limitation threshold | XXX | XXX | 17692032 |
|  Adjusted gross DTA that can be offset against DTL | 1198654 | 504353 | 1703007 |
|  DTA admitted as the result of application of SSAP No. 101 | $6330239 | $504353 | $6834592 |
|  | **2024** | **2024** | **2024** |
|  | **Ordinary** | **Capital** | **Total** |
|  Federal income tax paid in prior years recoverable through loss carrybacks | $— | $— | $— |
|  Adjusted gross DTA expected to be realized (lesser of 1 or 2) | $4150707 | $— | $4150707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross DTA expected to be realized following the balance sheet date | $4150707 | $— | $4150707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross DTA allowed per limitation threshold | XXX | XXX | 16778977 |
|  Adjusted gross DTA that can be offset against DTL | 2192011 |  | 2192011 |
|  DTA admitted as the result of application of SSAP No. 101 | $6342718 | $— | $6342718 |

---

The authorized control level risk-based capital ("RBC") ratio percentages used to determine recovery period and threshold limitation amounts were 1184% and 1094% as of December 31, 2025 and 2024, respectively. The amounts of adjusted capital and surplus used to determine recovery period and threshold limitations were $126,884,755 and $120,714,665 as of December 31, 2025 and 2024, respectively.

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##### [**Table of Contents**](#toc)
The Company has not utilized an income tax planning strategy for the realization of the DTA for 2025 or 2024.

The tax effects of temporary differences that give rise to significant portions of the DTA and DTL as of December 31, were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **Change** |
|  DTA: |  |  |  |
|  Ordinary: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Policy reserves | $26539826 | $26111822 | $428004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred acquisition costs | 12431452 | 11645885 | 785567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compensation and benefit accruals | 224755 | 257031 | (32276) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nonadmitted assets | 242927 | 222481 | 20446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | 773860 | 375696 | 398164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal | 40212820 | 38612915 | 1599905 |
|  Nonadmitted DTA | (33882581) | (32270197) | (1612384) |
|  Admitted ordinary DTA | 6330239 | 6342718 | (12479) |
|  Capital: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net capital loss carry-forward | 589886 |  | 589886 |
|  Nonadmitted capital DTA | (85533) |  | (85533) |
|  Admitted DTA | 6834592 | 6342718 | 491874 |
|  DTL: |  |  |  |
|  Ordinary: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | (617848) | (940534) | 322686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Policy reserves | (140945) | (1079965) | 939020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | (439861) | (171512) | (268349) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal | (1198654) | (2192011) | 993357 |
|  Capital: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | (504353) |  | (504353) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal | (504353) |  | (504353) |
|  DTL | (1703007) | (2192011) | 489004 |
|  Net admitted DTA | $5131585 | $4150707 | $980878 |

---

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##### [**Table of Contents**](#toc)
The change in net deferred income tax (benefit), exclusive of nonadmitted assets reported separately from the change in net deferred income tax (benefit) in surplus, during the years ended December 31, was comprised of the following:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **Change** |
|  DTA | $40802706 | $38612915 | $2189791 |
|  DTL | (1703007) | (2192011) | 489004 |
|  Net DTA | $39099699 | $36420904 | 2678795 |
|  Tax effect of unrealized capital gain (loss) |  |  |  |
|  Change in net deferred income tax |  |  | $2678795 |
|  | **2024** | **2023** | **Change** |
|  DTA | $38612915 | $42155467 | $(3542552) |
|  DTL | (2192011) | (3591148) | 1399137 |
|  Net DTA | $36420904 | $38564319 | (2143415) |
|  Tax effect of unrealized capital gain (loss) |  |  |  |
|  Change in net deferred income tax |  |  | $(2143415) |

---

**6.** **RELATED PARTY INFORMATION** 

Effective November 14, 2025, the Company renewed a $23,000,000 bilateral unsecured revolving credit note, maturing November 13, 2026, from Mutual of Omaha. As of December 31, 2025 and 2024, there were no outstanding borrowings due from the Company under this agreement.

Effective November 14, 2025, the Company renewed a $23,000,000 bilateral unsecured revolving credit note, maturing November 13, 2026, to Mutual of Omaha, which is substantially similar to the agreement held in the prior year. The interest rates for borrowings under this agreement were from 3.74% to 4.43% as of December 31, 2025. As of December 31, 2025 and 2024, there were no outstanding borrowings due to the Company under this agreement.

The Company has no unused commitments for financing arrangements. As of December 31, 2025, the Company paid no commitment fees related to unused lines of credit. The Company has no lines of credit that support commercial paper borrowing arrangements or similar borrowing arrangements.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **Unused<br>Commitments** | **Unused Lines<br>Of Credit** | **Unused<br>Commitments** | **Unused Lines<br>Of Credit** |
|  Short—term (contracts terminating in 12 months or less) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $23000000 | $— | $23000000 |
|  Long—term (contracts terminating in more than 12 months) |  |  |  |  |
|  Total | $— | $23000000 | $— | $23000000 |

---

On January 29, 2024, the Company received a $11,600,000 cash capital contribution from United of Omaha that was accrued for as of December 31, 2023.

The Company is a member of a controlled group of companies and as such its results may not be indicative of those if it were to be operated on a stand-alone basis. Any amounts due to or from each affiliated company are presented on a net basis in the statutory financial statements.

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##### [**Table of Contents**](#toc)
Mutual of Omaha and certain of its direct and indirect subsidiaries, including the Company, will make available to each other the services of certain employees, specialists, professionals, skilled and experienced administrators, and specialized equipment as needed. The services made available under the agreement, may include, but are not limited to human resources, facilities, print and mail, payroll, finance and accounting, treasury and investments, internal audit, compliance, information technology infrastructure and personnel, marketing, legal, corporate services, broker dealer and investment advisory services, and other services as determined by the parties. Most of the expenses related to these services were paid by Mutual of Omaha and subject to allocation among Mutual of Omaha and its subsidiaries. Management believes the measures used to allocate expenses provide a reasonable allocation that conforms to NAIC guidelines. Additionally, certain amounts are paid or collected by Mutual of Omaha, on behalf of the Company, and are generally settled within 30 days. Amounts for these services are included in receivables from parent and affiliates or payable to parent and affiliates on the statutory statements of admitted assets, liabilities, and surplus.

Certain amounts paid or collected by Mutual of Omaha, on behalf of the Company, are generally settled within 30 days. The net intercompany payments from affiliates were $504,317 and net payments to affiliates were $874,963 for the years ended December 31, 2025 and 2024, respectively.

**7.** **REINSURANCE** 

The Company has reinsurance agreements with affiliate entities. The Company cedes group and individual life insurance to United of Omaha. The Company also cedes individual accident and health insurance to Mutual of Omaha.

Scottish Re (U.S.), Inc. ("SRUS") was a reinsurer of the Company on four ceded individual life reinsurance contracts. SRUS was ordered into receivership for the purposes of rehabilitation effective March 6, 2019, in the state of Delaware. A motion for Entry of Liquidation and Injunction Order was approved on July 18, 2023. In accordance with the liquidation order, the Company's reinsurance agreements with SRUS terminated on September 30, 2023. During 2025 or 2024, the Company did not write off any additional reinsurance balances due from SRUS or report a net loss as a result of the commutation of reinsurance with SRUS. As of December 31, 2025 and 2024, the Company had a net receivable of $1,162,482 from SRUS.

The Company did not enter into any new reinsurance agreements with third-party reinsurers during the years ended December 31, 2025 or 2024.

**8.** **EMPLOYEE BENEFIT PLANS** 

As of December 31, 2025, 2024, and 2023, the Company is allocated expenses from a 401(k) defined-contribution plan, sponsored by its ultimate parent, Mutual of Omaha, based upon various cost allocation methods. The Company has no legal obligation for benefits under this plan and substantially all employees are eligible for the plan.

The Company's share of net expense for these plans for the years ended December 31, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  401(k)defined—contribution plan | $460984 | $398276 | $482795 |

---

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##### [**Table of Contents**](#toc)
**9.** **SURPLUS AND DIVIDEND RESTRICTIONS** 

The portion of unassigned deficit represented by each item below as of December 31, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
|  Nonadmitted assets | $(38471911) | $(34826750) | $(36193042) |
|  Reinsurance in unauthorized companies | $(1774) | $(1878) | $(1740) |
|  AVR | $(8930166) | $(8845542) | $(8404410) |

---

Regulatory restrictions limit the amount of dividends available for distribution without prior approval of the Superintendent of the NYDFS. As of December 31, 2025, no dividend is allowed without approval due to the Company carrying an unassigned deficit.

**10.** **COMMITMENTS AND CONTINGENCIES** 

The Company is not aware of any commitment or contingent liabilities as of December 31, 2025 and 2024.

Various lawsuits have arisen in the ordinary course of the Company's business. Contingent liabilities arising from litigation, income taxes and other matters are not considered material in relation to the financial position of the Company.

**11.** **RESERVES FOR LIFE, ANNUITY, AND DEPOSIT—TYPE POLICIES AND CONTRACTS** 

The Company waives deduction of deferred fractional premiums upon death of the insured and returns any portion of the final premium for periods beyond the monthly policy anniversary following the date of death. Surrender values are not promised in excess of the legally computed reserves.

For plans of insurance with a substandard underwriting class and for policies with a flat extra substandard premium, substandard reserves are set equal to the unearned portion of the substandard premiums.

As of December 31, 2025 and 2024, the Company had $927,233,589 and $992,103,221, respectively, of insurance in force for which the gross premiums are less than the net premiums according to the valuation standards set by the NYDFS. Reserves to cover the above insurance totaled the gross amount of $78,906,293 and $79,779,861 as of December 31, 2025 and 2024, respectively.

In 2025, the Company made the following reserve changes with a corresponding change to operations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Decreased Regulation 126 asset adequacy reserves $1,000,000 in compliance with NY DFS cash flow testing
methodology requirements and prescribed conditions.

In 2025, the Company made the following reserve changes with a corresponding change to surplus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Corrected no lapse guarantee interest rates on a certain block of substandard universal life policies resulting
in an increase in reserves of $407,590.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Corrected no lapse guarantee interest rates for certain universal life policies to reflect annual effective
rather than nominal interest rates resulting in an increase in reserves of $2,014,691.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Updated the mortality assumptions used to calculate certain deficiency reserves, the factors for which are
permitted and defined under New York Regulation 147 and are commonly known as "X factors" resulting in a decrease in reserves of $1,476,441.

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In 2024, the Company made the following reserve changes with a corresponding change to operations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Implemented a new actuarial platform for individual payout annuity reserves resulting in a decrease in policy
reserves of $239,884.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Decreased Regulations 126 and 147 asset adequacy reserves $15,000,000 in compliance with NYDFS cash flow testing
methodology requirements and prescribed conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Implemented a new actuarial platform for group payout annuity reserves resulting in an increase in policy
reserves of $313,246.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Aligned substandard ceded reserve credits to use a methodology consistent with direct substandard reserves for
universal life, resulting in an increase in reserves of $117,928.

In 2024, the Company made the following reserve changes with a corresponding change to surplus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Updated the mortality assumptions used to calculate certain deficiency reserves, the factors for which are
permitted and defined under New York Regulation 147 and are commonly known as "X factors", resulting in an increase in reserves of $7,587,796.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Updated the mortality assumptions used for calculating reserves for anticipated anti-selective mortality on term
conversions resulting in a decrease in reserves of $269,951.

In 2023, the Company made the following reserve change with a corresponding change to operations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Implemented a new actuarial platform for traditional life reserves resulting in a decrease in policy reserves of
$1,330,428.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Implemented a new actuarial platform for deferred fixed annuity reserves resulting in a decrease in policy
reserves of $52,910.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increased Regulation 126 asset adequacy reserves $5,200,000 in compliance with NYDFS cash flow testing
methodology requirements and prescribed conditions.

In 2023, the Company made the following reserve changes with a corresponding change to surplus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Corrected the net yield pick-up adjustment in asset adequacy testing
models which decreased the Regulation 126 asset adequacy reserves reported at December 31, 2022 by $2,500,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Updated the mortality assumptions used for calculating reserves for anticipated anti-selective mortality on term
conversions resulting in a decrease in reserves of $409,633.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Corrected lapse coding for universal life policies held inforce by a secondary guarantee in asset adequacy
testing models which increased the Regulation 126 asset adequacy reserves by $2,300,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Corrected the mortality margin for group payout annuities in asset adequacy testing models which increased
reserves held for negative company interim surplus under the Regulation 126 and Regulation 147 asset adequacy reserves by $500,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Updated the X factors mortality assumptions used to calculate certain deficiency reserves, resulting in an
increase in reserves of $2,992,044.

------

##### [**Table of Contents**](#toc)
**12.** **ANALYSIS OF LIFE AND ANNUITY RESERVES AND DEPOSIT—TYPE LIABILITIES BY WITHDRAWAL CHARACTERISTICS** 

The withdrawal characteristics of the Company's individual annuity reserves, group annuity reserves, and deposit-type contracts as of December 31, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2025** | **General<br>Account** | **Separate Account<br>Non—Guaranteed** | **Total** | **% of<br>Total** |
|  Individual annuity reserves—subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $29400 | $— | $29400 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value less current surrender charge of 5% or more | 6644595 |  | 6644595 | 5.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At fair value |  | 2661474 | 2661474 | 2.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total with adjustment or at fair value | 6673995 | 2661474 | 9335469 | 8.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge) | 87542658 |  | 87542658 | 75.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 18401909 | 42518 | 18444427 | 16.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross total | 112618562 | 2703992 | 115322554 | 100.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance ceded | 78821778 |  | 78821778 |  |
|  Net total | $33796784 | $2703992 | $36500776 |  |
|  Group annuity reserves—subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $21910562 | $— | $21910562 | 9.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge) | 399403 |  | 399403 | 0.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 204321921 |  | 204321921 | 90.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross total | 226631886 |  | 226631886 | 100.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance ceded | 359463 |  | 359463 |  |
|  Net total | $226272423 | $— | $226272423 |  |
|  Deposit funds liabilities—subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge) | $3739804 | $— | $3739804 | 58.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 2610860 |  | 2610860 | 41.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross and net total | $6350664 | $— | $6350664 | 100.0% |

---

------

##### [**Table of Contents**](#toc)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2024** | **General<br>Account** | **Separate Account<br>Non—Guaranteed** | **Total** | **% of<br>Total** |
|  Individual annuity reserves—subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $41570 | $— | $41750 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value less current surrender charge of 5% or more | 8008130 |  | 8008130 | 6.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At fair value |  | 2434766 | 2434766 | 2.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total with adjustment or at fair value | 8049700 | 2434766 | 10484466 | 8.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge) | 94540230 |  | 94540230 | 76.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 19262043 | 38807 | 19300850 | 15.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross total | 121851973 | 2473573 | 124325546 | 100.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance ceded | 85129271 |  | 85129271 |  |
|  Net total | $36722702 | $2473573 | $39196275 |  |
|  Group annuity reserves—subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $20218693 | $— | $20218693 | 9.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge) | 401168 |  | 401168 | 0.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 189114659 |  | 189114659 | 90.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross total | 209734520 |  | 209734520 | 100.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance ceded | 361051 |  | 361051 |  |
|  Net total | $209373469 | $— | $209373469 |  |
|  Deposit funds liabilities—subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge) | 3474257 |  | 3474257 | 56.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 2684875 |  | 2684875 | 43.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross and net total | $6159132 | $— | $6159132 | 100.0% |

---

Annuity reserves and deposit funds liabilities subject to discretionary withdrawal at fair value include runoff variable annuity reserves for policies which are 100% ceded under a modified coinsurance reinsurance agreement to a third-party.

As of December 31, 2025 and 2024, there were no annuity or deposit-type contract reserves included in book value less current surrender charge of 5% or more that will move book value without adjustment for the first time within the year after the statutory-basis financial date. There were no annuity reserves or deposit-type liabilities in guaranteed separate accounts as of December 31, 2025 and 2024.

------

##### [**Table of Contents**](#toc)
The following information is obtained from the applicable exhibits in the Company's annual statement which was filed with the NYDFS and are provided to reconcile total annuity reserves and deposit-type contract liabilities to amounts reported on the statutory financial statements as of December 31.

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  Life, accident, and health annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 5, Annuities section—net total | $259657543 | $245672000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 5, Supplementary Contracts with Life Contingencies section—net total | 411664 | 424171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 7, Deposit—type Contracts, Line 14—net total | 6350664 | 6159132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal | 266419871 | 252255303 |
|  Separate accounts annual statement: | Separate accounts annual statement: | Separate accounts annual statement: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 3, Annuities section—net total | 2703992 | 2473573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Page 3, Line 2, Column 3—Other Contract Deposit Funds |  |  |
|  Total | $269123863 | $254728876 |

---

The withdrawal characteristics of the Company's life policy reserves as of December 31, were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **2025** | **Account Value** | **Cash Value** | **Reserves** |
|  General account— |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term policies with cash value | $— | $687020 | $788844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life | 30825679 | 30844067 | 31694105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life with secondary guarantees | 178585382 | 196793357 | 467816678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indexed universal life with secondary guarantees | 3466169 | 3110766 | 3174921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other permanent cash value life insurance |  | 189827613 | 232693922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable universal life | 530500 | 530499 | 530520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal or no cash value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal or no cash value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal or no cash value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal or no cash value: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term policies without cash value | N/A | N/A | 92773519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accidental death benefits | N/A | N/A | 261529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability—active lives | N/A | N/A | 1346599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability—disabled lives | N/A | N/A | 6358701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | N/A | N/A | 83668078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross total | 213407730 | 421793322 | 921107416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance ceded | 3168056 | 2909486 | 34961811 |
|  Net total | $210239674 | $418883836 | $886145605 |
|  Separate account non—guaranteed— |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable universal life | $1642015 | $1642015 | $1642015 |

---

------

##### [**Table of Contents**](#toc)

---

| | | | |
|:---|:---|:---|:---|
| **2024** | **Account Value** | **Cash Value** | **Reserves** |
|  General account— |  |  |  |
|  Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term policies with cash value | $— | $686586 | $909471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life | 32505743 | 32516758 | 33533120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life with secondary guarantees | 193097576 | 199908903 | 451862510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indexed universal life with secondary guarantees | 3132823 | 2665876 | 2799968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other permanent cash value life insurance |  | 179679268 | 220581882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable universal life | 504614 | 504614 | 504632 |
|  Not subject to discretionary withdrawal or no cash value: | Not subject to discretionary withdrawal or no cash value: | Not subject to discretionary withdrawal or no cash value: | Not subject to discretionary withdrawal or no cash value: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term policies without cash value | N/A | N/A | 93850287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accidental death benefits | N/A | N/A | 259095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability—active lives | N/A | N/A | 1373763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability—disabled lives | N/A | N/A | 6064012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | N/A | N/A | 86060827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross total | 229240756 | 415962005 | 897799567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance ceded | 2925333 | 2578268 | 35458592 |
|  Net total | $226315423 | $413383737 | $862340975 |
|  Separate account non—guaranteed— |  |  |  |
|  Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable universal life | $1452964 | $1452964 | $1452964 |

---

As of December 31, 2025 and 2024, there were no amounts reinsured on variable universal life subject to discretionary withdrawal, surrender values, or policy loans on non-guaranteed separate accounts. The Company did not have separate accounts with guarantees in 2025 and 2024.

The following information is obtained from the applicable exhibit in the Company's annual statement and related separate accounts annual statement, both of which were filed with the NYDFS and are provided to reconcile total life insurance reserves to amounts reported on the statutory financial statements as of December 31.

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  Life, accident, and health annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 5, Life Insurance section—net total | $798685782 | $772519317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 5, Accidental Death Benefits section—net total | 261516 | 259083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 5, Disability—Active Lives section—net total | 1346533 | 1373705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 5, Disability—Disabled Lives section—net total | 2848935 | 2834027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 5, Miscellaneous Reserves section—net total | 83002839 | 85354843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal | 886145605 | 862340975 |
|  Separate accounts annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 3, Life Insurance section—net total | 1642015 | 1452964 |
|  Total | $887787620 | $863793939 |

---

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##### [**Table of Contents**](#toc)
**13.** **PREMIUMS DEFERRED AND UNCOLLECTED** 

Deferred and uncollected life insurance premiums and annuity considerations as of December 31, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
| Type | **Gross** | **Net of**<br> **Loading** | **Gross** | **Net of**<br> **Loading** |
|  Ordinary first—year business | $5141834 | $119327 | $4446985 | $103460 |
|  Ordinary renewal | 22711042 | 15160826 | 20688699 | 14417846 |
|  Group life | (2363946) | (2396961) | (2229769) | (2264309) |
|  Total | $25488930 | $12883192 | $22905915 | $12256997 |

---

**14.** **SEPARATE ACCOUNTS** 

The Company utilizes separate accounts to record and account for assets and liabilities for particular lines of business. The Company reported assets and liabilities from the following product lines into a separate account and the assets are legally insulated from the general account as of December 31.

---

| | | | |
|:---|:---|:---|:---|
| **Product** | **State of Statute** | **2025** | **2024** |
|  Fund B—Variable universal life | N.Y.ISC. LAW Article 42 Section 4240 | $1642016 | $1452964 |
|  Fund C—Variable annuity | N.Y.ISC. LAW Article 42 Section 4240 | 2705667 | 2477597 |
|  Total |  | $4347683 | $3930561 |

---

Effective July 1, 2024, the Company sold its 401(k) record keeping business resulting in the termination of all 401(k) Plans' contracts. Separate Account K assets and liabilities were reduced by $52,224,528 and general account guaranteed interest contracts were reduced by $2,971,786 as a result of the 401(k) Plan terminations. The Company recognized a gain from the sale of the recordkeeping business of $187,500 within realized capital gain (losses) on the statutory statements of operations.

Information regarding the non-guaranteed separate accounts of the Company as of and for the years ended December 31, was as follows:

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  Total premiums, considerations, and deposits | $64612 | $8570594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserves subject to discretionary withdrawal—fair value | $4305441 | $3887730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserves not subject to discretionary withdrawal—fair value | 40566 | 38808 |
|  Total reserves by withdrawal characteristics | $4346007 | $3926538 |
|  Transfers as reported on the statutory statements of operations of the separate accounts annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers to separate accounts | $64623 | $72610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers from separate accounts | (134230) | (420354) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net transfers of the general account | (69607) | (347744) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance of separate account business | 69607 | 347744 |
|  Net transfers as reported on the statutory statements of operations | $— | $— |

---

The Company does not hold guaranteed separate accounts or reserves in separate accounts for asset default risk in lieu of AVR as of December 31, 2025 and 2024.

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##### [**Table of Contents**](#toc)
**15.** **SUBSEQUENT EVENTS** 

The Company has evaluated events subsequent to December 31, 2025 through April 1, 2026, the date these statutory financial statements were available to be issued and has determined there are no material subsequent events requiring adjustment to or disclosure in the statutory financial statements.

\*\*\*\*\*\*

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##### [**Table of Contents**](#toc)
**SUPPLEMENTAL SCHEDULES** 

------

##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United Omaha Life Insurance Company)** 

**SUPPLEMENTAL SCHEDULE OF SELECTED FINANCIAL DATA** 

**AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  Investment income earned: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. government bonds | $1036415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other bonds (unaffiliated) | 49631475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds of affiliates |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred stocks (unaffiliated) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred stocks of affiliates |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks (unaffiliated) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks of affiliates |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | 1423106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract loans | 2019527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | 1104683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short—term investments | 883154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets | 675696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative instruments |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggregate write—ins for investment income | 15618 |
|  Gross investment income | $56789674 |
|  Real estate owned—book value less encumbrances | $— |
|  Mortgage loans—book value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Farm mortgages | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential mortgages |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial mortgages | 31027411 |
|  Total mortgage loans | $31027411 |
|  Mortgage loans by standing—book value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Good standing | $31027411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Good standing with restructured terms | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest overdue more than 90 days, not in foreclosure | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreclosure in process | $— |
|  Other long—term assets—statement value | $15557419 |
|  Collateral loans | $— |

---

(Continued)

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##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United Omaha Life Insurance Company)** 

**SUPPLEMENTAL SCHEDULE OF SELECTED FINANCIAL DATA** 

**AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  Bonds and stocks of subsidiaries and affiliates—book value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred stocks | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks | $— |
|  Bonds and short—term investments by NAIC designation and maturity: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds by maturity—statement value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due within one year or less | $63525420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over 1 year and through 5 years | 157540351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over 5 years through 10 years | 199165948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over 10 years through 20 years | 346196611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over 20 years | 409066697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No maturity date |  |
|  Total by maturity | $1175495027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds and short—term investments by NAIC designation—statement value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAIC 1 | $756226637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAIC 2 | 414689113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAIC 3 | 3616042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAIC 4 | 827213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAIC 5 | 136022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAIC 6 |  |
|  Total by NAIC designation | $1175495027 |
|  Total bonds publicly traded | $710650493 |
|  Total bonds privately placed | $464844534 |
|  Preferred stocks—book value | $— |
|  Common stocks—market value | $— |
|  Short—term investments—book value | $— |
|  Options, caps, and floors owned—statement value | $— |
|  Options, caps, and floors written and in force—statement value | $— |
|  Collar, swap, and forward agreements open—current value | $— |
|  Future contracts open—current value | $— |
|  Cash on deposit | $50257481 |
|  | (Continued) |

---

------

##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United Omaha Life Insurance Company)** 

**SUPPLEMENTAL SCHEDULE OF SELECTED FINANCIAL DATA** 

**AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  Gross life insurance in force (in thousands): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary | $8028257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit life | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group life | $14551663 |
|  Amount of accidental death insurance in force under ordinary policies (in thousands): | $114589 |
|  Life insurance with disability provisions in force (in thousands): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary | $373840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit life | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group life | $14113909 |
|  Supplementary contracts in force: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary—not involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amount on deposit | $3564380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income payable | $36175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary—involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income payable | $47148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group—not involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amount on deposit | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income payable | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group—involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income payable | $— |

---

(Continued)

------

##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United Omaha Life Insurance Company)** 

**SUPPLEMENTAL SCHEDULE OF SELECTED FINANCIAL DATA** 

**AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  Annuities: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary—immediate: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income payable | $3369408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary—deferred: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fully paid account balance | $20782013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not fully paid account balance | $63844938 |
|  Group: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income payable | $18828298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fully paid account balance | $42814730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not fully paid account balance | $352499 |
|  Accident and health insurance—premiums in force: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit | $— |
|  Deposit funds: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Account balance | $2378550 |
|  Dividend accumulations: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Account balance | $232967 |
|  Claim payments 2025: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group accident and health—year ended December 31, 2025: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 and prior | $— |

---

(Continued)

------

##### [**Table of Contents**](#toc)
**COMPANION LIFE INSURANCE COMPANY** 

**(A Wholly Owned Subsidiary of United Omaha Life Insurance Company)** 

**SUPPLEMENTAL SCHEDULE OF SELECTED FINANCIAL DATA** 

**AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
| Claim payments 2025 (continued): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other accident and health—year ended December 31, 2025: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 and prior | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other coverages that use developmental methods to calculate claim reserves—year ended December 31, 2025: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 and prior | $|

---

(Concluded)

------

##### [**Table of Contents**](#toc)
ANNUAL STATEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

**SUMMARY INVESTMENT SCHEDULE** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Gross Investment Holdings | Gross Investment Holdings | Admitted Assets as Reported in the Annual Statement | Admitted Assets as Reported in the Annual Statement | Admitted Assets as Reported in the Annual Statement | Admitted Assets as Reported in the Annual Statement |
| Investment Categories | 1 | 2 | 3 | 4 | 5 | 6 |
| Investment Categories | Amount | Percentage<br>of Column 1<br>Line 14 | Amount | Securities<br>Lending<br>Reinvested<br>Collateral<br>Amount | Total (Col. 3 + 4)<br>Amount | Percentage<br>of Column 5<br>Line 14 |
| 1. Issuer credit obligations (Schedule D, Part 1, Section 1): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01 U.S. government obligations | $32885397 | 2.505% | $32885397 | $— | $32885397 | 2.505% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.02 Other U.S. government obligations |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.03 Non-U.S. sovereign jurisdiction securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.04 Municipal bonds-general obligations<br>(direct & guaranteed) | 8273566 | 0.630 | 8273566 |  | 8273566 | 0.630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.05 Municipal bonds-special revenue | 115067836 | 8.766 | 115067836 |  | 115067836 | 8.766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 Project finance bonds issued by operating entities | 253007 | 0.019 | 253007 |  | 253007 | 0.019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.07 Corporate bonds | 843955354 | 64.290 | 843955354 |  | 843955354 | 64.291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.08 Mandatory convertible bonds |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.09 Single entity backed obligations | 1514912 | 0.115 | 1514912 |  | 1514912 | 0.115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 SVO-Identified bond exchange traded funds-fair value |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 SVO-Identified bond exchange traded funds-systematic value |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12 Bonds issued by funds representing operating entities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 Bank loans-issued |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14 Bank loans-acquired |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15 Mortgages loans that qualify as SVO-Identified credit tenant loans |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16 Certificates of deposit |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17 Other issuer credit obligations |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18 Total issuer credit obligations | 1001950071 | 76.326 | 1001950071 |  | 1001950071 | 76.327 |
| 2. ABS (Schedule D, Part 1, Section 2): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.01 Financial ABS-self liquidating | 129027983 | 9.829 | 129027983 |  | 129027983 | 9.829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.02 Financial ABS-not self-liquidating |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.03 Non-financial ABS | 24527666 | 1.868 | 24527666 |  | 24527666 | 1.868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.04 Total ABS | 153555650 | 11.697 | 153555650 |  | 153555650 | 11.698 |
| 3. Preferred stocks (Schedule D, Part 2, Section 1): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.01 Industrial and miscellaneous (unaffiliated) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.02 Parent, subsidiaries and affiliates |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.03 Total preferred stocks |  |  |  |  |  |  |
| 4. Common stocks (Schedule D, Part 2, Section 2): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.01 Industrial and miscellaneous-publicly traded (unaffiliated) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02 Industrial and miscellaneous-other (unaffiliated) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.03 Parent, subsidiaries and affiliates-publicly traded |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.04 Parent, subsidiaries and affiliates-other |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05 Mutual funds |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.06 Unit investment trusts |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.07 Closed-end funds |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.08 Exchange traded funds |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.09 Total common stocks |  |  |  |  |  |  |

---

(Continued)

------

##### [**Table of Contents**](#toc)
ANNUAL STATEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

**SUMMARY INVESTMENT SCHEDULE** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Gross Investment Holdings | Gross Investment Holdings | Admitted Assets as Reported in the Annual Statement | Admitted Assets as Reported in the Annual Statement | Admitted Assets as Reported in the Annual Statement | Admitted Assets as Reported in the Annual Statement |
| Investment Categories | 1 | 2 | 3 | 4 | 5 | 6 |
| Investment Categories | Amount | Percentage<br>of Column 1<br>Line 14 | Amount | Securities<br>Lending<br>Reinvested<br>Collateral<br>Amount | Total (Col. 3 + 4)<br>Amount | Percentage<br>of Column 5<br>Line 14 |
| 5. Mortgage loans (Schedule B): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.01 Farm mortgages |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02 Residential mortgages |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03 Commercial mortgages | 31027411 | 2.364 | 31027411 |  | 31027411 | 2.364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04 Mezzanine real estate loans |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05 Total valuation allowance |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.06 Total mortgage loans | 31027411 | 2.364 | 31027411 |  | 31027411 | 2.364 |
| 6. Real estate (Schedule A): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.01 Properties occupied by company |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02 Properties held for production of income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.03 Properties held for sale |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.04 Total real estate |  |  |  |  |  |  |
| 7. Cash, cash equivalents and short-term investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.01 Cash (Schedule E, Part 1) | 50257481 | 3.828 | 50257481 |  | 50257481 | 3.829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.02 Cash equivalents (Schedule E, Part 2) | 19989306 | 1.523 | 19989306 |  | 19989306 | 1.523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.03 Short-term investments (Schedule DA) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.04 Total cash, cash equivalents and short-term investments | 70246787 | 5.351 | 70246787 |  | 70246787 | 5.351 |
| 8. Contract loans | 40304750 | 3.070 | 40288480 |  | 40288480 | 3.069 |
| 9. Derivatives (Schedule DB) |  |  |  |  |  |  |
| 10. Other invested assets (Schedule BA) | 15557420 | 1.185 | 15557420 |  | 15557420 | 1.185 |
| 11. Receivables for securities | 80175 | 0.006 | 80175 |  | 80175 | 0.006 |
| 12. Securities lending (Schedule DL, Part 1) |  |  |  |  |  |  |
| 13. Other invested assets (Page 2, Line 11) |  |  |  |  |  |  |
| 14. Total invested assets | $1312722264 | 100.000% | $1312705994 | $— | $1312705994 | 100.000% |

---

(Concluded)

------

##### [**Table of Contents**](#toc)
**SUPPLEMENTAL INVESTMENT RISKS INTERROGATORIES** 

For the Year Ended December 31, 2025

(To Be Filed by April 1)

Of The COMPANION LIFE INSURANCE COMPANY

ADDRESS (City, State and Zip Code) Melville, NY 11747

NAIC Group Code 0261

NAIC Company Code 62243

Federal Employer's Identification Number (FEIN) 13-1595128

The Investment Risks Interrogatories are to be filed by April 1. They are also to be included with the Audited Statutory Financial Statements.

Answer the following interrogatories by reporting the applicable U.S. dollar amounts and percentages of the reporting entity's total admitted assets held in that category of investments.

---

| | | |
|:---|:---|:---|
| 1. | Reporting entity's total admitted assets as reported on Page 2 of this annual statement. | $1361523644 |
| 2. | Ten largest exposures to a single issuer/borrower/investment. |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 1<br>Issuer | 2<br>Description of<br>Exposure | 3<br>Amount | 4<br>Percentage of Total<br>Admitted Assets |
| 2.01 | Federal National Mortgage Association | CMO, MBS | $45862082 | 3.4% |
|  |  | Bonds, Commercial |  |  |
| 2.02 | Plains All American Pipeline, L.P. | Paper | $19999307 | 1.5% |
| 2.03 | The Regents Of The University Of California | Municipal | $17532920 | 1.3% |
| 2.04 | Federal Home Loan Mortgage Corporation | CMO | $13538657 | 1.0% |
| 2.05 | Apple Inc. | Bonds | $11990499 | 0.9% |
| 2.06 | Meiji Yasuda Life Insurance Company | Bonds | $10866254 | 0.8% |
| 2.07 | Consolidated Edison Company of New York, Inc. | Bonds | $10565873 | 0.8% |
| 2.08 | Idaho Power Company | Bonds | $10518213 | 0.8% |
| 2.09 | Temasek Financial (I) Limited | Bonds | $9890018 | 0.7% |
| 2.1 | The Goldman Sachs Group, Inc. | Bonds | $9798005 | 0.7% |

---

3. Amounts and percentages of the reporting entity's total admitted assets held in bonds and preferred
stocks by NAIC designation.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Bonds | 1 | 2 |  | Preferred Stocks | 3 | 4 |
| 3.01 | NAIC-1 | $756226637 | 55.5% | 3.07 | NAIC-1 | $— | — % |
| 3.02 | NAIC-2 | $414689113 | 30.5% | 3.08 | NAIC-2 | $— | — % |
| 3.03 | NAIC-3 | $3616042 | 0.3% | 3.09 | NAIC-3 | $— | — % |
| 3.04 | NAIC-4 | $827213 | 0.1% | 3.1 | NAIC-4 | $— | — % |
| 3.05 | NAIC-5 | $136022 | — % | 3.11 | NAIC-5 | $— | — % |
| 3.06 | NAIC-6 | $— | — % | 3.12 | NAIC-6 | $— | — % |

---

(Continued)

------

##### [**Table of Contents**](#toc)
SUPPLEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

4. Assets held in foreign investments:

---

| | | | |
|:---|:---|:---|:---|
| 4.01 Are assets held in foreign investments less than 2.5% of the reporting entity's total admitted assets? | Yes [ | ] | No [ X] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If response to 4.01 above is yes, responses are not required for interrogatories 5 -10. |  |  |  |
| 4.02 Total admitted assets held in foreign investments | $117343103 |  | 8.6% |
| 4.03 Foreign-currency-denominated investments of | $— |  | —% |
| 4.04 Insurance liabilities denominated in that same foreign currency | $— |  | —% |
| 5. Aggregate foreign investment exposure categorized by NAIC sovereign designation: |  |  |  |
|  | 1 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| 5.01 Countries designated NAIC-1 | $117343103 |  | 8.6% |
| 5.02 Countries designated NAIC-2 | $— |  | —% |
| 5.03 Countries designated NAIC-3 or below | $— |  | —% |
| 6. Largest foreign investment exposures by country, categorized by the country's NAIC sovereign designation: | 6. Largest foreign investment exposures by country, categorized by the country's NAIC sovereign designation: | 6. Largest foreign investment exposures by country, categorized by the country's NAIC sovereign designation: | 6. Largest foreign investment exposures by country, categorized by the country's NAIC sovereign designation: |
|  | 1 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Countries designated NAIC - 1: |  |  |  |
| 6.01 Country 1:Australia | $37137107 |  | 2.7% |
| 6.02 Country 2:Japan | $18232606 |  | 1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Countries designated NAIC - 2: |  |  |  |
| 6.03 Country 1: | $— |  | —% |
| 6.04 Country 2: | $— |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Countries designated NAIC - 3 or below: |  |  |  |
| 6.05 Country 1: | $— |  | —% |
| 6.06 Country 2: | $— |  | —% |
|  | 1 |  | 2 |
| 7. Aggregate unhedged foreign currency exposure | $— |  | —% |
| 8. Aggregate unhedged foreign currency exposure categorized by NAIC sovereign designation: |  |  |  |
|  | 1 |  | 2 |
| 8.01 Countries designated NAIC - 1 | $— |  | —% |
| 8.02 Countries designated NAIC - 2 | $— |  | —% |
| 8.03 Countries designated NAIC - 3 | $— |  | —% |
| 9. Largest unhedged foreign currency exposures by country, categorized by the country's NAIC sovereign designation: | 9. Largest unhedged foreign currency exposures by country, categorized by the country's NAIC sovereign designation: | 9. Largest unhedged foreign currency exposures by country, categorized by the country's NAIC sovereign designation: | 9. Largest unhedged foreign currency exposures by country, categorized by the country's NAIC sovereign designation: |
|  | 1 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Countries designated NAIC - 1: |  |  |  |
| 9.01 Country 1: | $— |  | —% |
| 9.02 Country 2: | $— |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Countries designated NAIC - 2: |  |  |  |
| 9.03 Country 1: | $— |  | —% |
| 9.04 Country 2: | $— |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Countries designated NAIC - 3 or below: |  |  |  |
| 9.05 Country 1: | $— |  | —% |
| 9.06 Country 2: | $— |  | —% |

---

(Continued)

------

##### [**Table of Contents**](#toc)
SUPPLEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

10. Ten largest non-sovereign (i.e. non-governmental) foreign issues:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | | 3 | 4 |
|  | 1<br>Issuer | 2<br>NAIC Designation |  |  |
| 10.01 | Meiji Yasuda Life Insurance Company | lFE | $10866254 | 0.8% |
| 10.02 | Temasek Financial (I) Limited | lFE | $9890018 | 0.7% |
| 10.03 | Co6peratieve Rabobank U.A. | 2FE | $4568897 | 0.3% |
| 10.04 | Commonwealth Bank of Australia | lFE | $4289556 | 0.3% |
| 10.05 | Stockland Trust Management Limited | lFE | $4000000 | 0.3% |
| 10.06 | Transurban Queensland Finance Pty Ltd | 2FE | $4000000 | 0.3% |
| 10.07 | Sumitomo Mitsui Financial Group, Inc . | 1FE, 2FE | $3685728 | 0.3% |
| 10.08 | Takeda Pharmaceutical Company Limited | 2FE | $3680624 | 0.3% |
| 10.09 | Ellevio AB (publ) | 2FE | $3000000 | 0.2% |
| 10.10 | BASF SE | lFE | $3000000 | 0.2% |

---

11. Amounts and percentages of the reporting entity's total admitted assets held in Canadian
investments and unhedged Canadian currency exposure:

11.01 Are assets held in Canadian investments less than 2.5% of the reporting entity's total admitted assets? Yes [X] No [ ]

If response to 11.01 is yes, detail is not required for the remainder of interrogatory 11.

---

| | | | |
|:---|:---|:---|:---|
|  |  | 1 | 2 |
| 11.02 | Total admitted assets held in Canadian investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | – % |
| 11.03 | Canadian-currency-denominated investments | $— | – % |
| 11.04 | Canadian-denominated insurance liabilities | $— | – % |
| 11.05 | Unhedged Canadian currency exposure | $— | – % |

---

12. Report aggregate amounts and percentages of the reporting entiy's total admitted assets held in
investments with contractual sales restrictions:

12.01 Are assets held in investments with contractual sales restrictions less than 2.5% of the reporting entity's total admitted assets? Yes [X] No [ ]

If response to 12.01 is yes, responses are not required for the remainder of Interrogatory 12.

---

| | | | |
|:---|:---|:---|:---|
|  | 1 | 2 | 3 |
| 12.02 | Aggregate statement value of investments with contractual sales restrictions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% |
|  | Largest three investments with contractual sales restrictions: |  |  |
| 12.03 |  | $— | —% |
| 12.04 |  | $— | —% |
| 12.05 |  | $— | —% |

---

(Continued)

------

##### [**Table of Contents**](#toc)
SUPPLEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

13. Amounts and percentages of admitted assets held in the ten largest equity interests:

13.01 Are assets held in equity interests less than 2.5% of the reporting entity's total admitted assets? Yes [X] No [ ]

If response to 13.01 above is yes, responses are not required for the remainder of Interrogatory 13.

---

| | | | |
|:---|:---|:---|:---|
|  | | 2 | 3 |
|  | 1<br>Issuer |  |  |
| 13.02 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% |
| 13.03 |  | $— | —% |
| 13.04 |  | $— | —% |
| 13.05 |  | $— | —% |
| 13.06 |  | $— | —% |
| 13.07 |  | $— | —% |
| 13.08 |  | $— | —% |
| 13.09 |  | $— | —% |
| 13.10 |  | $— | —% |
| 13.11 |  | $— | —% |

---

14. Amounts and percentages of the reporting entity's total admitted assets held in nonaffiliated,
privately placed equities:

14.01 Are assets held in nonaffiliated, privately placed equities less than 2.5% of the reporting entity's total admitted assets? Yes [X] No [ ]

If response to 14.01 above is yes, responses are not required for 14.02 through 14.05.

---

| | | | |
|:---|:---|:---|:---|
|  | 1 | 2 | 3 |
| 14.02 | Aggregate statement value of investments held in nonaffiliated, privately placed equities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% |
|  | Largest three investments held in nonaffiliated, privately placed equities: |  |  |
| 14.03 |  | $— | —% |
| 14.04 |  | $— | —% |
| 14.05 |  | $— | —% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ten largest fund managers: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ten largest fund managers: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ten largest fund managers: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ten largest fund managers: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ten largest fund managers: |
|  | 1 | 2 | 3 | 4 |
|  | Fund Manager | Total Invested | Diversified | Nondiversified |
| 14.06 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 14.07 |  | $— | $— | $— |
| 14.08 |  | $— | $— | $— |
| 14.09 |  | $— | $— | $— |
| 14.10 |  | $— | $— | $— |
| 14.11 |  | $— | $— | $— |
| 14.12 |  | $— | $— | $— |
| 14.13 |  | $— | $— | $— |
| 14.14 |  | $— | $— | $— |
| 14.15 |  | $— | $— | $— |

---

(Continued)

------

##### [**Table of Contents**](#toc)
SUPPLEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

---

| | | | |
|:---|:---|:---|:---|
| 15. | Amounts and percentages of the reporting entity's total admitted assets held in general partnership interests: |  |  |
| 15.01 | Are assets held in general partnership interests less than 2.5% of the reporting entity's total admitted assets? | Yes [X] | No [ ] |
|  | If response to 15.01 above is yes, responses are not required for the remainder of Interrogatory 15. |  |  |
|  | 1 | 2 | 3 |
| 15.02 | Aggregate statement value of investments held in general partnership interests Largest three investments in general partnership interests: | $— | —% |
| 15.03 |  | $— | —% |
| 15.04 |  | $— | —% |
| 15.05 |  | $— | —% |
| 16. | Amounts and percentages of the reporting entity's total admitted assets held in mortgage loans: |  |  |
| 16.01 | Are mortgage loans reported in Schedule B less than 2.5% of the reporting entity's total admitted assets? | Yes [X] | No [ ] |
|  | If response to 16.01 above is yes, responses are not required for the remainder of Interrogatory 16 and Interrogatory 17. | If response to 16.01 above is yes, responses are not required for the remainder of Interrogatory 16 and Interrogatory 17. | If response to 16.01 above is yes, responses are not required for the remainder of Interrogatory 16 and Interrogatory 17. |
|  | 1<br> Type (Residential, Commercial, Agricultural) | 2<br>Total Invested | 3<br>Diversified |
| 16.02 |  | $— | —% |
| 16.03 |  | $— | —% |
| 16.04 |  | $— | —% |
| 16.05 |  | $— | —% |
| 16.06 |  | $— | —% |
| 16.07 |  | $— | —% |
| 16.08 |  | $— | —% |
| 16.09 |  | $— | —% |
| 16.10 |  | $— | —% |
| 16.11 |  | $— | —% |
|  | Amount and percentage of the reporting entity's total admitted assets held in the following categories of mortgage loans: | Amount and percentage of the reporting entity's total admitted assets held in the following categories of mortgage loans: | Amount and percentage of the reporting entity's total admitted assets held in the following categories of mortgage loans: |
|  |  | Loans | Loans |
| 16.12 | Construction loans | $— | —% |
| 16.13 | Mortgage loans over 90 days past due | $— | —% |
| 16.14 | Mortgage loans in the process of foreclosure | $— | —% |
| 16.15 | Mortgage loans foreclosed | $— | —% |
| 16.16 | Restructured mortgage loans | $— | —% |
| 17. | Aggregate mortgage loans having the following loan-to-value ratios as determined from the most current appraisal as of the annual statement date: | Aggregate mortgage loans having the following loan-to-value ratios as determined from the most current appraisal as of the annual statement date: | Aggregate mortgage loans having the following loan-to-value ratios as determined from the most current appraisal as of the annual statement date: |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | Residential | Residential | Commercial | Commercial | Agricultural | Agricultural |
|  | <br>Loan to Value | 1 | 2 | 3 | 4 | 5 | 6 |
| 17.01 | Aggregate mortgage loans: above 95% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% |
| 17.02 | Aggregate mortgage loans: 91 to 95% | $— | —% | $— | —% | $— | —% |
| 17.03 | Aggregate mortgage loans: 81 to 90% | $— | —% | $— | —% | $— | —% |
| 17.04 | Aggregate mortgage loans: 71 to 80% | $— | —% | $— | —% | $— | —% |
| 17.05 | Aggregate mortgage loans: below 70% | $— | —% | $— | —% | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% |

---

(Continued)

------

##### [**Table of Contents**](#toc)
SUPPLEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

18. Amounts and percentages of the reporting entity's total admitted assets held in each of the five
largest investments in real estate:

18.01 Are assets held in real estate reported less than 2.5% of the reporting entity's total admitted assets? Yes [X] No [ ]

If response to 18.01 above is yes, responses are not required for the remainder of Interrogatory 18.

Largest five investments in any one parcel or group of contiguous parcels of real estate.

---

| | | | |
|:---|:---|:---|:---|
|  | Description<br>1 | 2 | 3 |
| 18.02 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% |
| 18.03 |  | $— | —% |
| 18.04 |  | $— | —% |
| 18.05 |  | $— | —% |
| 18.06 |  | $— | —% |

---

19. Report aggregate amounts and percentages of the reporting entity's total admitted assets held in
investments held in mezzanine real estate loans:

---

| | | |
|:---|:---|:---|
| 19.01 Are assets held in mezzanine real estate loans less than 2.5% of the reporting entity's total admitted assets? | Yes [X] | No [ ] |

---

If response to 19.01 is yes, responses are not required for the remainder of Interrogatory 19.

---

| | | | |
|:---|:---|:---|:---|
|  | 1 | 2 | 3 |
| 19.02 | Aggregate statement value of investments held in mezzanine real estate loans | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% |
|  | Largest three investments held in mezzanine real estate loans: |  |  |
| 19.03 |  | $— | —% |
| 19.04 |  | $— | —% |
| 19.05 |  | $— | —% |

---

20. Amounts and percentages of the reporting entity's total admitted assets subject to the following types of
agreements:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | At Year End | At Year End | At End of Each Quarter | At End of Each Quarter | At End of Each Quarter |
|  |  | | | 1st Quarter | 2nd Quarter | 3rd Quarter |
|  |  | 1 | 2 | 3 | 4 | 5 |
| 20.01 | Securities lending (do not include assets held as collateral for such transactions) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 20.02 | Repurchase agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% | $— | $— | $— |
| 20.03 | Reverse repurchase agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% | $— | $— | $— |
| 20.04 | Dollar repurchase agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% | $— | $— | $— |
| 20.05 | Dollar reverse repurchase agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | —% | $— | $— | $— |

---

21. Amounts and percentages of the reporting entity's total admitted assets for warrants not attached to other financial instruments, options, caps, and floors:<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Owned | Owned | Written | Written |
|  |  | 1 | 2 | 3 | 4 |
| 21.01 | Hedging | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% |
| 21.02 | Income generation | $— | —% | $— | —% |
| 21.03 | Other | $— | —% | $— | —% |

---

(Continued)

------

##### [**Table of Contents**](#toc)
SUPPLEMENT FOR THE YEAR 2025 OF THE COMPANION LIFE INSURANCE COMPANY

22. Amounts and percentages of the reporting entity's total admitted assets of potential exposure for
collars, swaps, and forwards:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | At Year End | At Year End | At End of Each Quarter | At End of Each Quarter | At End of Each Quarter |
|  |  | | | 1st Quarter | 2nd Quarter | 3rd Quarter |
|  |  | 1 | 2 | 3 | 4 | 5 |
| 22.01 | Hedging | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% | $— | $— | $— |
| 22.02 | Income generation | $— | —% | $— | $— | $— |
| 22.03 | Republications | $— | —% | $— | $— | $— |
| 22.04 | Other | $— | —% | $— | $— | $— |

---

23. Amounts and percentages of the reporting entity's total admitted assets of potential exposure for futures
contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | At Year End | At Year End | At End of Each Quarter | At End of Each Quarter | At End of Each Quarter |
|  |  | | | 1st Quarter | 2nd Quarter | 3rd Quarter |
|  |  | 1 | 2 | 3 | 4 | 5 |
| 23.01 | Hedging | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—% | $— | $— | $— |
| 23.02 | Income generation | $— | —% | $— | $— | $— |
| 23.03 | Republications | $— | —% | $— | $— | $— |
| 23.04 | Other | $— | —% | $— | $— | $— |

---

(Concluded)

------

##### [**Table of Contents**](#toc)
Companion Life Separate Account B

Financial Statements as of December 31, 2025, and for each of the Periods Presented in the Years Ended December 31, 2025 and 2024, and Report of Independent Registered Public Accounting Firm

------

##### [**Table of Contents**](#toc)
**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

To the Board of Directors of

Companion Life Insurance Company

Hauppauge, New York

**Opinion on the Financial Statements and Financial Highlights** 

We have audited the accompanying statements of net assets of each of the subaccounts of Companion Life Separate Account B (the "Account") listed in Note 2 as of December 31, 2025; the related statements of operations and changes in net assets for each of the two years in the period then ended, financial highlights for each of the five years in the period then ended for each of the subaccounts, except for the subaccounts indicated in the table below, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the subaccounts listed in Note 2 constituting the Account as of December 31, 2025, and the results of their operations and the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended (or for the periods listed in the table below), in conformity with accounting principles generally accepted in the United States of America.

---

| | |
|:---|:---|
| **Individual Subaccounts Comprising the**<br> **Companion Life Separate Account B** | **Financial Highlights** |
| Federated – Fund for U.S. Government Securities II | For the period January 1, 2021 to June 1, 2021 |
| Fidelity – VIP Mid-Cap 2 | For the period October 28, 2021 to December 31, 2021, and years ended December 31, 2025, 2024, 2023 and 2022 |
| MFS – High Yield Series | For the period January 1, 2023 to January 6, 2023, and years ended December 31, 2022 and 2021 |
| MFS – Research Series | For the period January 1, 2021 to June 7, 2021 |
| Pioneer – Fund VCT | For the period January 1, 2021 to June 7, 2021 |
| Pioneer – Real Estate Shares VCT | For the period January 1, 2023 to April 28, 2023, and years ended December 31, 2022, and 2021 |
| DWS – Global Opportunities | For the period January 1, 2022 to April 21, 2022 and year ended December 31, 2021 |
| DWS – International | For the period January 1, 2023 to January 6, 2023 and year ended December 31, 2022 and 2021 |
| T. Rowe Price – Moderate Allocation | For the period January 1, 2021 to June 7, 2021 |
| Morgan Stanley – VIF Core Plus Fixed Income | For the period January 1, 2023 to July 28, 2023, and years ended December 31, 2022 and 2021 |

---

------

##### [**Table of Contents**](#toc)
**Basis for Opinion** 

These financial statements and financial highlights are the responsibility of the Account's management. Our responsibility is to express an opinion on the Account's financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. 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, whether due to error or fraud. The Account is not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Account's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of investments owned as of December 31, 2025, by correspondence with the custodians. We believe that our audits provide a reasonable basis for our opinion.

![LOGO](g88860dsp61.jpg)

Omaha, Nebraska <br> April 1, 2026

We have served as the auditor of the Account since 1997.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

STATEMENT OF NET ASSETS

DECEMBER 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **NET ASSETS** | Cost | Fair Value | Shares |
|  **Investments:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alger:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Growth | $46154 | $72537 | 703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Small Capitalization | 56 | 43 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federated:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Fund II | 147707 | 147706 | 147707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fidelity:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Contrafund | 53977 | 82621 | 1380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Equity Income | 66 | 83 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Index 500 | 102760 | 267805 | 406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Mid-Cap 2 | 8916 | 8568 | 244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Core Equity Portfolio | 199708 | 247462 | 7774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging Growth Series | 7515 | 7700 | 113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pioneer:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Income VCT | 75 | 55 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value VCT | 276492 | 244685 | 21482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **DWS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Index VIP | 80 | 83 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Income | 223087 | 247007 | 8544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Stock | 229060 | 247566 | 15570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limited-Term Bond | 2970 | 2994 | 630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All-Cap Opportunities | 158 | 196 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Morgan Stanley:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIF Emerging Markets Equity | 50648 | 64905 | 3694 |

---

See notes to these financial statements.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Alger | Alger | Alger | Alger | Federated | Federated |
|  | American Growth | American Growth | American Small Capitalization | American Small Capitalization | Government Money Fund II | Government Money Fund II |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $— | $— | $— | $— | $5257 | $6206 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 233 | 114 | (1) | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 7807 |  | 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 8040 | 114 |  | (1) |  |  |
|  Change in unrealized appreciation (depreciation) during the year | 8819 | 16532 | 2 | 4 |  |  |
|  Increase (decrease) in net assets from operations | 16859 | 16646 | 2 | 3 | 5257 | 6206 |
|  Contract transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners | 825 | 825 |  |  | 9047 | 9340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net |  |  |  |  | 5308 | 12996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (43) | (43) |  |  | (4241) | (3317) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (613) | (557) | (1) | (1) | (11387) | (11079) |
|  Net increase (decrease) in net assets from contract transactions | 169 | 225 | (1) | (1) | (1273) | 7940 |
|  Total increase (decrease) in net assets | 17028 | 16871 | 1 | 2 | 3984 | 14146 |
|  Net assets at beginning of year | 55509 | 38638 | 42 | 40 | 143722 | 129576 |
|  Net assets at end of year | $72537 | $55509 | $43 | $42 | $147706 | $143722 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 6 | 9 |  |  | 6941 | 11377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (5) | (6) |  |  | (7735) | (6556) |
|  Net increase (decrease) in units outstanding | 1 | 3 |  |  | (794) | 4821 |
|  Units outstanding at beginning of year | 509 | 506 | 1 | 1 | 85649 | 80828 |
|  Units outstanding at end of year | 510 | 509 | 1 | 1 | 84855 | 85649 |

---

See notes to these financial statements.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Fidelity | Fidelity | Fidelity | Fidelity | Fidelity | Fidelity |
|  | VIP Contrafund | VIP Contrafund | VIP Equity Income | VIP Equity Income | VIP Index 500 | VIP Index 500 |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $108 | $129 | $1 | $1 | $2890 | $2967 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 2160 | 2237 | 1 |  | 12995 | 21165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 12312 | 8186 | 4 | 4 | 1290 | 140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 14472 | 10423 | 5 | 4 | 14285 | 21305 |
|  Change in unrealized appreciation (depreciation) during the year | 363 | 8739 | 7 | 4 | 24875 | 27501 |
|  Increase (decrease) in net assets from operations | 14943 | 19291 | 13 | 9 | 42050 | 51773 |
|  Contract transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  |  |  | 11307 | 11427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net |  |  |  |  | (10118) | (14931) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations |  |  |  |  | (2146) | (14503) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (5395) | (5104) | (2) | (1) | (13849) | (13459) |
|  Net increase (decrease) in net assets from contract transactions | (5395) | (5104) | (2) | (1) | (14806) | (31466) |
|  Total increase (decrease) in net assets | 9548 | 14187 | 11 | 8 | 27244 | 20307 |
|  Net assets at beginning of year | 73073 | 58886 | 72 | 64 | 240561 | 220254 |
|  Net assets at end of year | $82621 | $73073 | $83 | $72 | $267805 | $240561 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  |  |  | 64 | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (32) | (37) |  |  | (194) | (408) |
|  Net increase (decrease) in units outstanding | (32) | (37) |  |  | (130) | (339) |
|  Units outstanding at beginning of year | 468 | 505 | 1 | 1 | 2363 | 2702 |
|  Units outstanding at end of year | 436 | 468 | 1 | 1 | 2233 | 2363 |

---

See notes to these financial statements.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Fidelity (continued) | Fidelity (continued) | MFS | MFS | MFS | MFS |
|  | VIP Mid-Cap 2 | VIP Mid-Cap 2 | Core Equity Portfolio | Core Equity Portfolio | Emerging Growth Series | Emerging Growth Series |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $20 | $28 | $1079 | $1294 | $— | $— |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | (127) | 75 | 2493 | 5148 | 158 | 213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 989 | 1038 | 24047 | 9416 | 1334 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 862 | 1113 | 26540 | 14564 | 1492 | 725 |
|  Change in unrealized appreciation (depreciation) during the year | (22) | (176) | 434 | 24119 | (659) | 757 |
|  Increase (decrease) in net assets from operations | 860 | 965 | 28053 | 39977 | 833 | 1482 |
|  Contract transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners | 1000 | 4600 | 8732 | 8818 | 1000 | 4600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | (2) |  | (2670) | (10302) | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (45) | (197) | (1487) | (11595) | (46) | (197) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1775) | (1613) | (10361) | (10282) | (2076) | (2015) |
|  Net increase (decrease) in net assets from contract transactions | (822) | 2790 | (5786) | (23361) | (1123) | 2388 |
|  Total increase (decrease) in net assets | 38 | 3755 | 22267 | 16616 | (290) | 3870 |
|  Net assets at beginning of year | 8530 | 4775 | 225195 | 208579 | 7990 | 4120 |
|  Net assets at end of year | $8568 | $8530 | $247462 | $225195 | $7700 | $7990 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 11 | 46 | 60 | 47 | 8 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (19) | (17) | (111) | (296) | (17) | (17) |
|  Net increase (decrease) in units outstanding | (8) | 29 | (51) | (249) | (9) | 20 |
|  Units outstanding at beginning of year | 84 | 55 | 2215 | 2464 | 62 | 42 |
|  Units outstanding at end of year | 76 | 84 | 2164 | 2215 | 53 | 62 |

---

See notes to these financial statements.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Pioneer | Pioneer | Pioneer | Pioneer | DWS | DWS |
|  | Equity Income VCT | Equity Income VCT | Mid Cap Value VCT | Mid Cap Value VCT | Small Cap Index VIP | Small Cap Index VIP |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $1 | $1 | $4674 | $3998 | $2 | $1 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | (1) | (1) | (1653) | (3663) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 8 | 9 | 18145 | 12272 | 4 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 7 | 8 | 16492 | 8609 | 4 | 2 |
|  Change in unrealized appreciation (depreciation) during the year | (2) | (4) | 3652 | 9432 | 4 | 5 |
|  Increase (decrease) in net assets from operations | 6 | 5 | 24818 | 22039 | 10 | 8 |
|  Contract transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  | 8731 | 8817 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net |  |  | 5964 | 2406 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations |  |  | (1457) | (10987) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (2) | (2) | (10028) | (9887) | (3) | (3) |
|  Net increase (decrease) in net assets from contract transactions | (2) | (2) | 3210 | (9651) | (3) | (3) |
|  Total increase (decrease) in net assets | 4 | 3 | 28028 | 12388 | 7 | 5 |
|  Net assets at beginning of year | 51 | 48 | 216657 | 204269 | 76 | 71 |
|  Net assets at end of year | $55 | $51 | $244685 | $216657 | $83 | $76 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  | 152 | 129 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals |  |  | (111) | (248) |  |  |
|  Net increase (decrease) in units outstanding |  |  | 41 | (119) |  |  |
|  Units outstanding at beginning of year | 1 | 1 | 2587 | 2706 | 1 | 1 |
|  Units outstanding at end of year | 1 | 1 | 2628 | 2587 | 1 | 1 |

---

See notes to these financial statements.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | T. Rowe Price | T. Rowe Price | T. Rowe Price | T. Rowe Price | T. Rowe Price | T. Rowe Price |
|  | Equity Income | Equity Income | International Stock | International Stock | Limited-Term Bond | Limited-Term Bond |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $3776 | $3881 | $4629 | $2057 | $130 | $130 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 1009 | 2804 | 1885 | 1297 | 15 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 23498 | 13868 | 20332 | 5323 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 24507 | 16672 | 22217 | 6620 | 15 | (7) |
|  Change in unrealized appreciation (depreciation) during the year | 2505 | 2638 | 12104 | (2060) | 22 | 28 |
|  Increase (decrease) in net assets from operations | 30788 | 23191 | 38950 | 6617 | 167 | 151 |
|  Contract transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners | 8708 | 8794 | 9404 | 9490 | 2430 | 2430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | 5826 | (668) | 7 | 9025 | 62 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (1445) | (11160) | (1993) | (11154) | (98) | (98) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (10077) | (9954) | (10933) | (10463) | (2729) | (2470) |
|  Net increase (decrease) in net assets from contract transactions | 3012 | (12988) | (3515) | (3102) | (335) | (31) |
|  Total increase (decrease) in net assets | 33800 | 10203 | 35435 | 3515 | (168) | 120 |
|  Net assets at beginning of year | 213207 | 203004 | 212131 | 208616 | 3162 | 3042 |
|  Net assets at end of year | $247007 | $213207 | $247566 | $212131 | $2994 | $3162 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 133 | 78 | 341 | 436 | 97 | 108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (95) | (261) | (443) | (545) | (111) | (109) |
|  Net increase (decrease) in units outstanding | 38 | (183) | (102) | (109) | (14) | (1) |
|  Units outstanding at beginning of year | 2880 | 3063 | 7068 | 7177 | 136 | 137 |
|  Units outstanding at end of year | 2918 | 2880 | 6966 | 7068 | 122 | 136 |

---

See notes to these financial statements.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | T. Rowe Price (Contintued) | T. Rowe Price (Contintued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley |
|  | All-Cap Opportunities | All-Cap Opportunities | VIF Emerging Markets Equity | VIF Emerging Markets Equity |
|  | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $— | $— | $242 | $719 |
|  Realized gains (losses) on investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 1 | 1 | 999 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 21 | 19 | 2011 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 22 | 20 | 3010 | 13 |
|  Change in unrealized appreciation (depreciation) during the year | 5 | 15 | 13819 | 3172 |
|  Increase (decrease) in net assets from operations | 27 | 35 | 17071 | 3904 |
|  Contract transactions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  | 2228 | 2268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net |  |  | (4399) | 1216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations |  |  | (111) | (3152) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (5) | (5) | (2697) | (2583) |
|  Net increase (decrease) in net assets from contract transactions | (5) | (5) | (4979) | (2251) |
|  Total increase (decrease) in net assets | 22 | 30 | 12092 | 1653 |
|  Net assets at beginning of year | 174 | 144 | 52813 | 51160 |
|  Net assets at end of year | $196 | $174 | $64905 | $52813 |
|  Accumulation units: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  | 54 | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals |  |  | (161) | (134) |
|  Net increase (decrease) in units outstanding |  |  | (107) | (63) |
|  Units outstanding at beginning of year | 1 | 1 | 1411 | 1474 |
|  Units outstanding at end of year | 1 | 1 | 1304 | 1411 |

---

See notes to these financial statements.

------

##### [**Table of Contents**](#toc)
COMPANION LIFE SEPARATE ACCOUNT B

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

1. **NATURE OF OPERATIONS** 

Companion Life Separate Account B (the "Separate Account") was established by Companion Life Insurance Company ("Companion") on August 27, 1996, under the laws of the State of New York, and is registered as a unit investment trust under the Investment Company Act of 1940, as amended. The Separate Account is a funding vehicle for individual variable life contracts. The assets of the Separate Account are owned by Companion, however, the net assets of the Separate Account are clearly identified and distinguished from Companion's other assets and liabilities. The portion of the Separate Account's assets applicable to the variable life contracts is not chargeable with liabilities arising out of any other business Companion may conduct.

A contract owner of the Separate Account may allocate funds to the fixed income account, which are part of Companion's general account, in addition to those subaccounts detailed below. Interests in the fixed income account have not been registered under the Securities Act of 1933 and Companion has not been registered as an investment company under the Investment Company Act of 1940, due to exemptive and exclusionary provisions under such acts.

2. **SUBACCOUNTS** 

The Separate Account is divided into subaccounts for which accumulation units are separately maintained. Each subaccount invests exclusively in shares of a corresponding mutual fund portfolio. The available subaccounts with activity during 2025 or 2024 are:

**<u>Alger</u>**

***Alger American Fund***

Alger American Large Cap Growth Portfolio Class O ("American Growth")

Alger American Small Cap Growth Portfolio Class O ("American Small Capitalization")

**<u>Federated</u>**

***Federated Insurance Series***

Federated Hermes Government Money Market Fund II Portfolio ("Government Money Fund II")

**<u>Fidelity</u>**

***Fidelity Variable Insurance Products Fund***

Fidelity VIP Equity-Income Portfolio Initial Class ("VIP Equity Income")

***Fidelity Variable Insurance Products***

Fidelity VIP Contrafund Portfolio Service Class ("VIP Contrafund")

Fidelity VIP Index 500 Portfolio Initial Class ("VIP Index 500")

Fidelity VIP III Mid-Cap - Service Class 2 ("VIP Mid-Cap 2")

**<u>MFS</u>**

***MFS Variable Insurance Trust***

MFS Core Equity Portfolio ("Core Equity Portfolio")

MFS Growth Series Portfolio Initial Class ("Emerging Growth Series")

**<u>Pioneer</u>**

***Pioneer Variable Contracts Trust***

Pioneer Equity Income VCT Portfolio Class II ("Equity Income VCT")

Pioneer Mid Cap Value VCT Portfolio Class I ("Mid Cap Value VCT")

**<u>DWS</u>**

***DWS Variable Series I***

***DWS Investments VIT Funds***

DWS Small Cap Index VIP Class A ("Small Cap Index VIP")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>T. Rowe Price</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***T. Rowe Price Equity Series, Inc.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Income Portfolio ("Equity Income")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price All-Cap Opportunities Portfolio ("All-Cap Opportunities")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***T. Rowe Price International Series, Inc.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price International Stock Portfolio ("International Stock")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***T. Rowe Price Fixed Income Series, Inc.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Limited-Term Bond Portfolio ("Limited-Term Bond")

**<u>Morgan Stanley</u>**

***Morgan Stanley Variable Insurance Funds***

Morgan Stanley VIF Emerging Markets Equity Portfolio Class I ("VIF Emerging Markets Equity")

------

##### [**Table of Contents**](#toc)
3. **SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

***Use of Estimates -*** The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and disclosures of assets at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting year. Actual results could differ from those estimates. The most significant estimates and assumptions include those used in investment valuation in the absence of quoted market prices.

***Security Valuation and Related Investment Income -*** Investments are made in the portfolios of the Separate Account and are valued at the reported net asset values of such portfolios, which value their investment securities at fair value. Transactions are recorded on a trade date basis. Income from dividends and gains from realized gain distributions are recorded on the ex-distribution date. Realized gains and losses on the sales of investments are determined based on the average cost of investments sold.

The investments of the Separate Account and Companion Life Separate Account C are jointly held in accounts with the investment managers.

***Federal Income Taxes -*** Companion is taxed as a life insurance company and includes in its results the taxable income or loss of the Separate Account subaccounts excluding those items which are specifically attributed to the contracts. No charge for federal income tax is being made to the Separate Account subaccounts. In the event of changes in the tax laws, charges may be made in the future.

As of December 31, 2025, there were no uncertain tax positions which management believes will materially change within the next twelve months.

***Fair Value Measurements -*** Current fair value guidance requires financial instruments measured at fair value to be categorized into a three-level classification. The lowest level input that is significant to the fair value measurement of a financial instrument is used to categorize the instrument and reflects the judgment of management. The valuation criteria is summarized as follows:

---

| | |
|:---|:---|
| **Level 1 -** | Inputs are unadjusted and represent quoted prices in active markets for identical assets at the measurement date. |
| **Level 2 -** | Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset through correlation with market data at the measurement date. |
| **Level 3 -** | Inputs reflect management's best estimate of what market participants would use in pricing the asset at the measurement date. Financial assets presented at fair value and categorized as Level 3 are generally those that are valued using unobservable inputs. |

---

Each subaccount invests in shares of mutual funds, which calculate a daily net asset value based on the value of the underlying securities in the portfolio. As such, the investments held in the Separate Account were valued using Level 2 inputs as defined by the applicable fair value guidance.

***Payments Received from Contract Owners -*** In the Statement of Operations and Changes in Net Assets, the line item "Payments received from contract owners" includes both deposits received from policyholders and net gains and losses resulting from the timing of executed trades.

***Segment Reporting -*** Each fund of the Separate Account constitutes a single operating segment and therefore, a single reportable segment because the chief operating decision maker ("CODM") manages the activities of the Separate Account using information of each fund. The Separate Account is engaged in a single line of business as a registered unit investment trust. The Separate Account is a funding vehicle for individual variable annuity contracts with the assets owned by Companion to support the liabilities of the applicable insurance contracts. The subaccounts have identified the Chief Financial Officer of the sponsoring company as the CODM as the Separate Account does not have employees and is not a separate legal entity.

The CODM uses increase (decrease) in net assets from operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the funds within the Separate Account. The Accounting policies used to measure profit and loss of the segments are the same as those described in the summary of significant accounting policies (included in this note). The measure of segment assets is reported on the statement of net assets as net assets. Refer to the Statements of Operations and Changes in Net Assets for each fund's operating segment and related footnotes for significant principle expenses and the existing segment requirements as of December 31, 2025 and for the year ended December 31, 2025 and December 31, 2024. All assets and revenue is generated in the US and there is no customer greater than 10% of consolidated results for all periods presented.

***Subsequent Events -*** Subsequent events have been evaluated through April 1, 2026, the date these financial statements were issued.

4. **ACCOUNT CHARGES** 

**Contract Maintenance Charges:** 

***Cost of Insurance Charge -*** The cost of insurance charge is based upon the age, sex, risk and rate class of the insured, the specific amount of insurance coverage and the length of time the contract has been inforce, and is assessed through the redemption of units.

***Surrender Charge -*** Upon a total surrender, partial withdrawal, or if the contract's current specified amount of insurance coverage is decreased, Companion may deduct a surrender charge from the accumulation value based upon the amount of the decrease, issue age of contract owner, risk and rate class, and duration the contract has been inforce.

***Transfer Fees -*** A transfer fee of $10 may be imposed for any non-systematic transfer in excess of twelve per contract year. The transfer fee is deducted from the amount transferred on the date of the transfer.

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***Administrative Charges*** - Companion deducts a monthly charge through the redemption of units as compensation for the mortality and expense risks assumed by Companion. This charge is equal to an annual rate of 0.70% of the accumulation value, decreasing to 0.55% of accumulation value (0.15% of accumulation value in excess of $25,000) after ten years. Companion guarantees that the mortality and expense charge will not increase above these levels. Companion also deducts an administrative charge on each monthly deduction date of $7. This charge is assessed through the redemption of units.

***Cost of Riders*** - Riders are available at a cost based on insured's age, sex, risk and rate class and benefit amount. These riders include additional insured, accidental death benefit and disability rider. A paid-up life insurance rider is available at a cost of 3% of the accumulation value on the date exercised. These charges are assessed through the redemption of units.

5. **PURCHASES AND SALES OF INVESTMENTS** 

The aggregate cost of net daily purchases and proceeds from net daily sales of investments for the year ended December 31, 2025, were as follows:

---

| | | |
|:---|:---|:---|
|  | ***Purchases*** | ***Sales*** |
|  **<u>Alger</u>** |  |  |
|  American Growth | $782 | $613 |
|  American Small Capitalization |  | 1 |
|  **<u>Federated</u>** |  |  |
|  Government Money Fund II | 11932 | 13205 |
|  **<u>Fidelity</u>** |  |  |
|  VIP Contrafund |  | 5395 |
|  VIP Equity Income |  | 2 |
|  VIP Index 500 | 6783 | 21589 |
|  VIP Mid-Cap 2 | 1122 | 1944 |
|  **<u>MFS</u>** |  |  |
|  Core Equity Portfolio | 6147 | 11933 |
|  Emerging Growth Series | 1144 | 2267 |
|  **<u>Pioneer</u>** |  |  |
|  Equity Income VCT |  | 2 |
|  Mid Cap Value VCT | 12841 | 9631 |
|  **<u>DWS</u>** |  |  |
|  Small Cap Index VIP |  | 3 |
| **<u>T. Rowe Price</u>** |  |  |
|  Equity Income | 10441 | 7429 |
|  International Stock | 11333 | 14848 |
|  Limited - Term Bond | 2334 | 2669 |
|  All - Cap Opportunities |  | 5 |
|  **<u>Morgan Stanley</u>** |  |  |
|  VIF Emerging Markets Equity | 2170 | 7149 |

---

6. **ADMINISTRATION OF THE SEPARATE ACCOUNT** 

Companion has an administrative services agreement with Security Benefit Life Insurance Company ("Security Benefit"), whose affiliate Zinnia Corporate Holdings, LLC ("Zinnia") performs administrative functions on behalf of Companion with respect to the contracts comprising the Separate Account.

7. **REINSURANCE ARRANGEMENTS** 

Companion has a reinsurance agreement to cede to Security Benefit, on a modified coinsurance basis, certain Companion rights, liabilities and obligations in the Separate Account. The ceding of this business does not discharge Companion from its primary legal liability to a contract owner.

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##### [**Table of Contents**](#toc)
8. **FINANCIAL HIGHLIGHTS** 

A summary of units, unit values, and net assets at December 31 and investment income ratio, expense ratio and total return for the years ended December 31 follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31 | At December 31 | At December 31 | For the years ended December 31\*\*\*\* | For the years ended December 31\*\*\*\* | For the years ended December 31\*\*\*\* |
|  | Units | Unit Value | Net Assets | Investment<br>Income<br>Ratio\* | Expense<br>Ratio\*\* | Total Return\*\*\* |
|  **<u>Alger</u>** |  |  |  |  |  |  |
|  American Growth - 2025 | 510 | 142.20 | 72537 | 0.00% | 0.00% | 30.27% |
|  American Growth - 2024 | 509 | 109.16 | 55509 | 0.00% | 0.00% | 42.90% |
|  American Growth - 2023 | 506 | 76.39 | 38638 | 0.00% | 0.00% | 32.67% |
|  American Growth - 2022 | 500 | 57.58 | 28810 | 0.00% | 0.00% | -38.66% |
|  American Growth - 2021 | 501 | 93.87 | 47019 | 0.00% | 0.00% | 11.84% |
|  American Small Capitalization - 2025 | 1 | 56.06 | 43 | 0.00% | 0.00% | 5.91% |
|  American Small Capitalization - 2024 | 1 | 52.93 | 42 | 0.00% | 0.00% | 8.13% |
|  American Small Capitalization - 2023 | 1 | 48.95 | 40 | 0.00% | 0.00% | 16.49% |
|  American Small Capitalization - 2022 | 109 | 42.02 | 4578 | 0.00% | 0.00% | -38.01% |
|  American Small Capitalization - 2021 | 85 | 67.79 | 5751 | 0.00% | 0.00% | -6.06% |
|  **<u>Federated</u>** |  |  |  |  |  |  |
|  Government Money Fund II - 2025 | 84855 | 1.74 | 147706 | 3.61% | 0.00% | 3.61% |
|  Government Money Fund II - 2024 | 85649 | 1.68 | 143722 | 4.54% | 0.00% | 5.00% |
|  Government Money Fund II - 2023 | 80828 | 1.60 | 129576 | 4.25% | 0.00% | 4.58% |
|  Government Money Fund II - 2022 | 19 | 1.53 | 30 | 0.00% | 0.00% | 0.66% |
|  Government Money Fund II - 2021 | 20 | 1.52 | 31 | 0.00% | 0.00% | 0.00% |
|  Fund for U.S. Government Securities II - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund for U.S. Government Securities II - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund for U.S. Government Securities II - 2023 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund for U.S. Government Securities II - 2022 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund for U.S. Government Securities II - 2021 - January 1, 2021 to June 1, 2021 |  | 25.49 |  | 18.18% | 0.00% | -1.66% |
|  **<u>Fidelity</u>** |  |  |  |  |  |  |
|  VIP Contrafund - 2025 | 436 | 189.66 | 82621 | 0.14% | 0.00% | 21.49% |
|  VIP Contrafund - 2024 | 468 | 156.11 | 73073 | 0.20% | 0.00% | 33.78% |
|  VIP Contrafund - 2023 | 505 | 116.69 | 58886 | 0.49% | 0.00% | 33.45% |
|  VIP Contrafund - 2022 | 554 | 87.44 | 48401 | 0.45% | 0.00% | -26.31% |
|  VIP Contrafund - 2021 | 606 | 118.66 | 71938 | 0.06% | 0.00% | 27.83% |
|  VIP Equity Income - 2025 | 1 | 82.09 | 83 | 1.29% | 0.00% | 19.01% |
|  VIP Equity Income - 2024 | 1 | 68.98 | 72 | 1.47% | 0.00% | 15.35% |
|  VIP Equity Income - 2023 | 1 | 59.80 | 64 | 1.61% | 0.00% | 10.66% |
|  VIP Equity Income - 2022 | 1 | 54.04 | 60 | 1.59% | 0.00% | -4.96% |
|  VIP Equity Income - 2021 | 1 | 56.86 | 66 | 1.65% | 0.00% | 24.88% |
|  VIP Index 500 - 2025 | 2233 | 119.92 | 267805 | 1.14% | 0.00% | 17.77% |
|  VIP Index 500 - 2024 | 2363 | 101.82 | 240561 | 1.29% | 0.00% | 24.90% |
|  VIP Index 500 - 2023 | 2702 | 81.52 | 220254 | 1.44% | 0.00% | 26.19% |
|  VIP Index 500 - 2022 | 2983 | 64.60 | 192735 | 1.41% | 0.00% | -18.22% |
|  VIP Index 500 - 2021 | 2998 | 78.99 | 236806 | 1.27% | 0.00% | 28.59% |
|  VIP Mid-Cap 2 - 2025 | 76 | 113.20 | 8568 | 0.23% | 0.00% | 11.49% |
|  VIP Mid-Cap 2 - 2024 | 84 | 101.53 | 8530 | 0.42% | 0.00% | 17.17% |
|  VIP Mid-Cap 2 - 2023 | 55 | 86.65 | 4775 | 0.44% | 0.00% | 14.80% |
|  VIP Mid-Cap 2 - 2022 | 45 | 75.48 | 3375 | 0.32% | 0.00% | -14.96% |
|  VIP Mid-Cap 2 - 2021 - October 28, 2021 to December 31, 2021 | 32 | 88.76 | 2863 | 0.70% | 0.00% | 1.54% |
|  **<u>MFS</u>** |  |  |  |  |  |  |
|  Core Equity Portfolio 2025 | 2164 | 114.37 | 247462 | 0.46% | 0.00% | 12.50% |
|  Core Equity Portfolio 2024 | 2215 | 101.66 | 225195 | 0.60% | 0.00% | 20.11% |
|  Core Equity Portfolio 2023 | 2464 | 84.64 | 208579 | 0.52% | 0.00% | 23.15% |
|  Core Equity Portfolio 2022 | 2700 | 68.73 | 185573 | 0.31% | 0.00% | -17.27% |
|  Core Equity Portfolio 2021 | 2673 | 83.08 | 222078 | 0.45% | 0.00% | 25.31% |
|  Emerging Growth Series - 2025 | 53 | 144.85 | 7700 | 0.00% | 0.00% | 12.19% |
|  Emerging Growth Series - 2024 | 62 | 129.11 | 7990 | 0.00% | 0.00% | 31.46% |
|  Emerging Growth Series - 2023 | 42 | 98.21 | 4120 | 0.00% | 0.00% | 35.87% |
|  Emerging Growth Series - 2022 | 33 | 72.28 | 2398 | 0.00% | 0.00% | -31.64% |
|  Emerging Growth Series - 2021 | 23 | 105.73 | 2479 | 0.00% | 0.00% | 23.53% |

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##### [**Table of Contents**](#toc)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31 | At December 31 | At December 31 | For the years ended December 31\*\*\*\* | For the years ended December 31\*\*\*\* | For the years ended December 31\*\*\*\* |
|  | Units | Unit Value | Net Assets | Investment<br>Income<br>Ratio\* | Expense<br>Ratio\*\* | Total Return\*\*\* |
|  **<u>MFS (cont'd)</u>** |  |  |  |  |  |  |
|  High Yield Series - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  High Yield Series - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  High Yield Series - 2023-January 1, 2023 to January 6, 2023 |  | 32.15 |  | 0.00% | 0.00% | 2.13% |
|  High Yield Series - 2022 | 241 | 31.48 | 7602 | 5.22% | 0.00% | -10.52% |
|  High Yield Series - 2021 | 275 | 35.18 | 9683 | 5.12% | 0.00% | 3.47% |
|  Research Series - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Research Series - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Research Series - 2023 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Research Series - 2022 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Research Series - 2021 - January 1, 2021 to June 7, 2021 |  | 63.43 |  | 0.00% | 0.00% | 12.68% |
|  **<u>Pioneer</u>** |  |  |  |  |  |  |
|  Equity Income VCT - 2025 | 1 | 63.48 | 55 | 1.89% | 0.00% | 11.14% |
|  Equity Income VCT - 2024 | 1 | 57.12 | 51 | 2.02% | 0.00% | 10.98% |
|  Equity Income VCT - 2023 | 1 | 51.47 | 48 | 0.03% | 0.00% | 7.16% |
|  Equity Income VCT - 2022 | 158 | 48.03 | 7593 | 1.44% | 0.00% | -7.94% |
|  Equity Income VCT - 2021 | 188 | 52.17 | 9811 | 1.25% | 0.00% | 25.32% |
|  Fund VCT - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund VCT - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund VCT - 2023 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund VCT - 2022 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Fund VCT - 2021 - January 1, 2021 to June 7, 2021 |  | 43.61 |  | 0.00% | 0.00% | 15.52% |
|  Mid Cap Value VCT - 2025 | 2628 | 93.11 | 244685 | 2.03% | 0.00% | 11.18% |
|  Mid Cap Value VCT - 2024 | 2587 | 83.75 | 216657 | 1.90% | 0.00% | 10.94% |
|  Mid Cap Value VCT - 2023 | 2706 | 75.49 | 204269 | 1.82% | 0.00% | 12.45% |
|  Mid Cap Value VCT - 2022 | 2910 | 67.13 | 195361 | 2.02% | 0.00% | -5.64% |
|  Mid Cap Value VCT - 2021 | 3207 | 71.14 | 228122 | 0.99% | 0.00% | 29.68% |
|  Real Estate Shares VCT - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Real Estate Shares VCT - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Real Estate Shares VCT - 2023 - January 1, 2023 to April 28, 2023 |  | 62.76 |  | 1.09% | 0.00% | -1.03% |
|  Real Estate Shares VCT - 2022 | 411 | 63.41 | 26035 | 1.93% | 0.00% | -30.84% |
|  Real Estate Shares VCT - 2021 | 399 | 91.68 | 36625 | 1.08% | 0.00% | 41.05% |
|  **<u>DWS</u>** |  |  |  |  |  |  |
|  Global Opportunities - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Global Opportunities - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Global Opportunities - 2023 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Global Opportunities - 2022 - January 1, 2022 - April 21, 2022 |  | 56.08 |  | 0.00% | 0.00% | -10.96% |
|  Global Opportunities - 2021 | 2 | 62.98 | 114 | 0.00% | 0.00% | 14.66% |
|  International - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  International - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  International - 2023 - January 1, 2023 to January 6, 2023 |  | 17.59 |  | 0.00% | 0.00% | 3.23% |
|  International - 2022 | 303 | 17.04 | 5159 | 2.86% | 0.00% | -13.15% |
|  International - 2021 | 331 | 19.62 | 6502 | 2.42% | 0.00% | 9.24% |
|  Small Cap Index VIP - 2025 | 1 | 62.26 | 83 | 2.52% | 0.00% | 12.64% |
|  Small Cap Index VIP - 2024 | 1 | 55.27 | 76 | 1.36% | 0.00% | 11.14% |
|  Small Cap Index VIP - 2023 | 1 | 49.73 | 71 | 1.49% | 0.00% | 16.76% |
|  Small Cap Index VIP - 2022 | 1 | 42.59 | 63 | 1.38% | 0.00% | -20.64% |
|  Small Cap Index VIP - 2021 | 2 | 53.67 | 82 | 1.27% | 0.00% | 14.51% |

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##### [**Table of Contents**](#toc)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31 | At December 31 | At December 31 | For the years ended December 31\*\*\*\* | For the years ended December 31\*\*\*\* | For the years ended December 31\*\*\*\* |
|  | Units | Unit Value | Net Assets | Investment<br>Income<br>Ratio\* | Expense<br>Ratio\*\* | Total Return\*\*\* |
| **<u>T. Rowe Price</u>** |  |  |  |  |  |  |
|  Equity Income - 2025 | 2918 | 84.66 | 247007 | 1.64% | 0.00% | 14.36% |
|  Equity Income - 2024 | 2880 | 74.03 | 213207 | 1.86% | 0.00% | 11.71% |
|  Equity Income - 2023 | 3063 | 66.27 | 203004 | 1.98% | 0.00% | 9.54% |
|  Equity Income - 2022 | 3148 | 60.50 | 190455 | 1.82% | 0.00% | -3.34% |
|  Equity Income - 2021 | 3498 | 62.59 | 218928 | 1.63% | 0.00% | 25.53% |
|  International Stock - 2025 | 6966 | 35.54 | 247566 | 2.01% | 0.00% | 18.42% |
|  International Stock - 2024 | 7068 | 30.01 | 212131 | 0.98% | 0.00% | 3.23% |
|  International Stock - 2023 | 7177 | 29.07 | 208616 | 0.97% | 0.00% | 16.23% |
|  International Stock - 2022 | 7957 | 25.01 | 198986 | 0.78% | 0.00% | -15.79% |
|  International Stock - 2021 | 7178 | 29.70 | 213222 | 0.63% | 0.00% | 1.30% |
|  Limited-Term Bond - 2025 | 122 | 24.63 | 2994 | 4.22% | 0.00% | 5.70% |
|  Limited-Term Bond - 2024 | 136 | 23.30 | 3162 | 4.19% | 0.00% | 4.95% |
|  Limited-Term Bond - 2023 | 137 | 22.20 | 3042 | 1.79% | 0.00% | 4.96% |
|  Limited-Term Bond - 2022 | 370 | 21.15 | 7826 | 1.87% | 0.00% | -4.51% |
|  Limited-Term Bond - 2021 | 419 | 22.15 | 9281 | 1.34% | 0.00% | 0.14% |
|  All-Cap Opportunities - 2025 | 1 | 151.15 | 196 | 0.00% | 0.00% | 16.30% |
|  All-Cap Opportunities - 2024 | 1 | 129.96 | 174 | 0.00% | 0.00% | 25.17% |
|  All-Cap Opportunities - 2023 | 1 | 103.83 | 144 | 0.00% | 0.00% | 28.97% |
|  All-Cap Opportunities - 2022 | 1 | 80.51 | 116 | 0.00% | 0.00% | -21.51% |
|  All-Cap Opportunities - 2021 | 2 | 102.58 | 153 | 0.00% | 0.00% | 20.80% |
|  Moderate Allocation - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Moderate Allocation - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Moderate Allocation - 2023 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Moderate Allocation - 2022 |  |  |  | 0.00% | 0.00% | 0.00% |
|  Moderate Allocation - 2021 - January 1, 2021 to June 7, 2021 |  | 58.22 |  | 0.00% | 0.00% | 7.30% |
|  **<u>Morgan Stanley</u>** |  |  |  |  |  |  |
|  VIF Emerging Markets Equity - 2025 | 1304 | 49.77 | 64905 | 0.41% | 0.00% | 32.97% |
|  VIF Emerging Markets Equity - 2024 | 1411 | 37.43 | 52813 | 1.38% | 0.00% | 7.81% |
|  VIF Emerging Markets Equity - 2023 | 1474 | 34.72 | 51160 | 1.48% | 0.00% | 11.96% |
|  VIF Emerging Markets Equity - 2022 | 1651 | 31.01 | 51188 | 0.39% | 0.00% | -25.08% |
|  VIF Emerging Markets Equity - 2021 | 1374 | 41.39 | 56853 | 0.83% | 0.00% | 2.99% |
|  VIF Core Plus Fixed Income - 2025 |  |  |  | 0.00% | 0.00% | 0.00% |
|  VIF Core Plus Fixed Income - 2024 |  |  |  | 0.00% | 0.00% | 0.00% |
|  VIF Core Plus Fixed Income - 2023 - January 1, 2023 to July 28, 2023 |  | 25.73 |  | 7.91% | 0.00% | 2.63% |
|  VIF Core Plus Fixed Income - 2022 | 4684 | 25.07 | 117404 | 3.84% | 0.00% | -14.32% |
|  VIF Core Plus Fixed Income - 2021 | 4568 | 29.26 | 133664 | 4.01% | 0.00% | -0.34% |

---

\* These ratios represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying portfolio, net of management fees assessed by the portfolio manager, divided by the average net assets. These ratios exclude those expenses that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the distribution of dividends by the underlying portfolio in which the subaccount invests. 

\*\* These ratios represent the annualized contract expenses of the Separate Account for each year indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying portfolio are excluded. There were no expenses that resulted in a direct reduction to unit values. 

\*\*\* These ratios represent the total return for the period indicated, including changes in the value of the underlying portfolio,and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the Separate Account. The total return is calculated for each year indicated or from the effective date through the end of the reporting year or liquidation date. 

\*\*\*\* Funds listed with date ranges represent partial year investments in funds. Unit values displayed represent unit value at disposition date.