Updating Summary Prospectus - Form 497VPU

special TERMS

Administrative Office - Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company, Attention: Customer Care Group, 6400 C Street SW, Cedar Rapids, IA 52499, (800)525-6205.

Annuitant - The person on whose life any annuity payments involving life contingencies will be based.

Annuity Commencement Date - The date upon which annuity payments are to commence. This date may not be later than the last day of the Policy month following the month in which the Annuitant attains age 99 (earlier if required by state law).

Fixed Account - One or more Investment Options under the Policy that are part of our general assets and are not in the Separate Account.

Investment Option(s) - The Subaccounts and the Fixed Account.

Owner (You, Your) - The person who may exercise all rights and privileges under the Policy.

Policy - The Transamerica Variable Annuity O-Share, an individual deferred, flexible premium variable annuity. Also referred to as the contract.

Policy Date- The date shown on the Policy data page attached to the Policy and the date on which the Policy becomes effective.

Policy Value - On or before the Annuity Commencement Date, the Policy Value is equal to the Owner's:

Policy Year - A Policy Year begins on the Policy Date and on each anniversary thereafter.

Premium Based Charge - The sum of all charges for a premium payment previously calculated and collected as part of the quarterly Premium Based Charge. The total Premium Based Charge includes Surrender Charges imposed due to partial withdrawals and full surrenders.

Portfolio Company(ies) - The investment company(ies) made available as Investment Options under the Policy. Also referred to as underlying fund portfolios.

Separate Account Value- The portion of the Policy Value that is invested in the Separate Account.

Separate Account - Separate Account VA B and Separate Account VA BNY, Separate Accounts established and registered as unit investment trusts under the Investment Company Act of 1940, as amended (the "1940 Act"), to which premium payments under the policies may be allocated.

Subaccount - A subdivision within the Separate Account, the assets of which are invested in a specified Underlying Fund Portfolio.

summary of policy features that have changed

The information in this Updating Summary Prospectus is a summary of certain Policy features that have changed since the last current Prospectus. This may not reflect all of the changes that have occurred since You entered into Your Policy.

important INFORMATION you should consider about the policy

	FEES AND EXPENSES	Location in Prospectus
Charges for Early Withdrawal	If You withdraw money in excess of the Surrender Charge Free Amount, You may be assessed a surrender charge on the withdrawal. The current surrender charge, if any is imposed, applies to each premium payment. The surrender charge is an acceleration of some or all of the remaining premium based charge. The total of Premium Based Charges and surrender charges deducted will not exceed 5% of the aggregate premium payments. There are no surrender charges for any particular premium payment after seven years.	Annuity Policy Fee Tables and Expense Examples Transaction Expenses - Surrender Charge Access to Your Money Surrenders and Withdrawals
Transaction Charges	In addition to surrender charges, You also may be assessed a transfer fee and special services fee. Transfer Fee. We reserve the right to charge for transfers among Investment Options after the first 12 transfers per Policy Year. For each such additional transfer, we may impose a transfer fee of $10. Currently, we do not charge a transfer fee, but reserve the right to do so. Special Service Fee. We reserve the right to deduct a charge for special services, including overnight delivery, duplicate policies, handling insufficient checks on new business, duplicate Form 1099 and Form 5498 tax forms, check copies, printing and mailing previously submitted forms, and asset verification requests from mortgage companies. For policies issued prior to May 1, 2015, the special services fee may be up to $30.	Annuity Policy Fee Tables and Expense Examples Expenses - Transaction Expenses

APPENDIX

PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY

The following is a list of current Portfolio Companies available under the Policy, which are subject to change as discussed in this prospectus. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolio Companies.

Certain Subaccounts may not be available in all states, at all times or through all financial intermediaries. We may discontinue offering any Subaccount at any time. In some cases, a Subaccount not available through a financial intermediary may be obtained by contacting us directly. For more information on the options available for electing a Subaccount, please contact Your financial intermediary or our Administrative Office.

More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at http://dfinview.com/Transamerica/TAHD/89354G745?site=VAVUL. You can also request this information at no cost by calling our Administrative Office at (800)525-6205.

The current expenses and performance below reflects fee and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that Your Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio Company's past performance is not necessarily an indication of future performance.

Investment Objective	Underlying Fund Portfolio and Adviser/Sub-adviser (1)	Current Expenses	Platform Charges	Current Expenses Plus Platform Charges	Average Annual Total Returns (as of 12/31/22)
1 year	5 years	10 years
To maximize total return consistent with the Adviser's determination of reasonable risk.	AB Balanced Hedged Allocation Portfolio - Class B Advised by:AllianceBernstein L.P.	0.99%	0.20%	1.19%	12.66%	5.92%	5.04%
Long-term growth of capital.	AB Relative Value Portfolio - Class B Advised by:AllianceBernstein L.P.	0.87%	-	0.87%	11.72%	11.57%	9.05%
To provide high total return (including income and capital gains) consistent with preservation of capital over the long term.	American Funds - Asset Allocation FundSM - Class 2 Advised by:Capital Research and Management CompanySM	0.55%	0.30%	0.85%	14.27%	9.20%	7.25%
To provide growth of capital.	American Funds - Growth FundSM - Class 2 Advised by:Capital Research and Management CompanySM	0.59%	0.30%	0.89%	38.49%	18.68%	14.36%
To achieve long-term growth of capital and income.	American Funds - Growth-Income FundSM - Class 2 Advised by:Capital Research and Management CompanySM	0.53%	0.30%	0.83%	26.14%	13.36%	10.91%
To achieve long-term growth of capital.	American Funds - International FundSM - Class 2 Advised by:Capital Research and Management CompanySM	0.78%	0.30%	1.08%	15.84%	4.83%	3.41%
To provide as high a level of current income as is consistent with the preservation of capital.	American Funds - The Bond Fund of AmericaSM - Class 2 Advised by:Capital Research and Management CompanySM	0.63%	0.30%	0.93%	5.02%	1.89%	2.08%
Seeks income and capital growth consistent with reasonable risk.	Fidelity® VIP Balanced Portfolio - Service Class 2 Advised by:Fidelity Management & Research Company	0.69%	-	0.69%	21.29%	12.16%	8.81%
Seeks long-term capital appreciation.	Fidelity® VIP Contrafund® Portfolio - Service Class 2 Advised by:Fidelity Management & Research Company	0.81%	-	0.81%	33.12%	16.36%	11.33%

PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY - (Continued)

Investment Objective	Underlying Fund Portfolio and Adviser/Sub-adviser (1)	Current Expenses	Platform Charges	Current Expenses Plus Platform Charges	Average Annual Total Returns (as of 12/31/22)
1 year	5 years	10 years
Seeks long-term growth of capital.	Fidelity® VIP Mid Cap Portfolio - Service Class 2 Advised by:Fidelity Management & Research Company	0.82%	-	0.82%	14.80%	12.17%	7.85%
Seeks capital appreciation.	Fidelity® VIP Value Strategies Portfolio - Service Class 2 Advised by:Fidelity Management & Research Company	0.85%	-	0.85%	20.61%	16.63%	9.10%
The highest total return, composed of current income and capital appreciation, as is consistent with prudent investment risk.	State Street Total Return V.I.S. Fund - Class 3 Advised by:SSGA Funds Management, Inc.	0.90%	0.20%	1.10%	15.21%	5.90%	4.66%
Seeks long-term capital appreciation and current income.	Transamerica 60/40 Allocation VP - Service Class Advised by:Transamerica Asset Management, Inc.	0.90%	-	0.90%	15.95%	8.88%	N/A
Seeks maximum total return consistent with preservation of capital and prudent investment management.	Transamerica Aegon Bond VP - Service Class Sub-Advised by:Aegon USA Investment Management, LLC	0.78%	-	0.78%	6.18%	0.73%	1.44%
Seeks total return, consisting of current income and capital appreciation.	Transamerica Aegon Core Bond VP - Service Class Sub-Advised by:Aegon USA Investment Management, LLC	0.75%	-	0.75%	5.78%	1.06%	1.60%
Seeks a high level of current income by investing in high-yield debt securities.	Transamerica Aegon High Yield Bond VP - Service Class Sub-Advised by:Aegon USA Investment Management, LLC	0.90%	-	0.90%	10.87%	4.47%	4.00%
Seeks total return gained from the combination of dividend yield, growth of dividends and capital appreciation.	Transamerica Aegon Sustainable Equity Income VP - Service Class Sub-Advised by:Aegon Asset Management UK plc ("AAM")	0.98%	-	0.98%	6.00%	5.44%	5.13%
Seeks to provide as high a level of total return as is consistent with prudent investment strategies.	Transamerica Aegon U.S. Government Securities VP - Service Class Sub-Advised by:Aegon USA Investment Management, LLC	0.83%	-	0.83%	3.69%	0.25%	0.79%
Seeks to provide total return (including income and capital gains) consistent with preservation of capital over the long term while seeking to manage volatility and provide downside protection.	Transamerica American Funds Managed Risk VP - Service Class Sub-Advised by:Milliman Financial Risk Management LLC	1.10%	-	1.10%	10.39%	6.32%	N/A
Seeks as high a level of current income as is consistent with preservation of capital and liquidity.	Transamerica BlackRock Government Money Market VP - Service Class(2) Sub-Advised by:BlackRock Investment Management, LLC	0.54%	-	0.54%	4.66%	1.58%	0.87%
Seeks current income and preservation of capital.	Transamerica BlackRock iShares Active Asset Allocation - Conservative VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.92%	-	0.92%	9.96%	3.16%	2.79%

PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY - (Continued)

Investment Objective	Underlying Fund Portfolio and Adviser/Sub-adviser (1)	Current Expenses	Platform Charges	Current Expenses Plus Platform Charges	Average Annual Total Returns (as of 12/31/22)
1 year	5 years	10 years
Seeks capital appreciation and current income.	Transamerica BlackRock iShares Active Asset Allocation - Moderate VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.88%	-	0.88%	13.37%	3.15%	2.73%
Seeks capital appreciation with current income as secondary objective.	Transamerica BlackRock iShares Active Asset Allocation - Moderate Growth VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.91%	-	0.91%	17.62%	2.43%	2.30%
Seeks capital appreciation and income.	Transamerica BlackRock iShares Dynamic Allocation - Balanced VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.89%	-	0.89%	12.66%	3.61%	3.01%
Seeks capital appreciation and income.	Transamerica BlackRock iShares Dynamic Allocation - Moderate Growth VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.89%	-	0.89%	17.28%	4.96%	3.63%
Seeks long term capital appreciation and capital preservation.	Transamerica BlackRock iShares Edge 40 VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.71%	-	0.71%	9.07%	4.46%	3.37%
Seeks long-term capital appreciation and capital preservation.	Transamerica BlackRock iShares Edge 50 VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.69%	-	0.69%	9.79%	5.19%	N/A
Seeks long-term capital appreciation and capital preservation as a secondary objective.	Transamerica BlackRock iShares Edge 75 VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.73%	-	0.73%	12.09%	7.36%	N/A
Seeks long-term capital appreciation.	Transamerica BlackRock iShares Edge 100 VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	0.81%	-	0.81%	14.47%	9.34%	N/A
Seeks a combination of capital appreciation and income.	Transamerica BlackRock iShares Tactical - Balanced VP - Service Class(3) Sub-Advised by:Pacific Investment Management Company LLC	0.89%		0.89%	10.66%	4.27%	3.59%
Seeks a combination of capital appreciation and income.	Transamerica BlackRock iShares Tactical - Conservative VP - Service Class(4) Sub-Advised by:Pacific Investment Management Company LLC	0.92%		0.92%	7.24%	3.61%	3.40%
Seeks a combination of capital appreciation and income.	Transamerica BlackRock iShares Tactical - Growth VP - Service Class(5) Sub-Advised by:Pacific Investment Management Company LLC	0.93%		0.93%	13.94%	6.23%	4.44%

PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY - (Continued)

Investment Objective	Underlying Fund Portfolio and Adviser/Sub-adviser (1)	Current Expenses	Platform Charges	Current Expenses Plus Platform Charges	Average Annual Total Returns (as of 12/31/22)
1 year	5 years	10 years
Seeks to maximize total return.	Transamerica BlackRock Real Estate Securities VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	1.15%	-	1.15%	13.15%	4.85%	3.59%
Seeks capital appreciation with current income as a secondary objective.	Transamerica BlackRock Tactical Allocation VP - Service Class Sub-Advised by:BlackRock Investment Management, LLC	1.02%	-	1.02%	14.88%	6.54%	4.90%
Seeks to balance capital appreciation and income.	Transamerica Goldman Sachs Managed Risk - Balanced ETF VP - Service Class Sub-Advised by:Goldman Sachs Asset Management, L.P.	0.64%	-	0.64%	13.20%	5.04%	3.97%
Seeks current income and preservation of capital.	Transamerica Goldman Sachs Managed Risk - Conservative ETF VP - Service Class Sub-Advised by:Goldman Sachs Asset Management, L.P.	0.66%	-	0.66%	10.59%	3.35%	3.22%
Seeks capital appreciation as a primary objective and income as a secondary objective.	Transamerica Goldman Sachs Managed Risk - Growth ETF VP - Service Class Sub-Advised by:Goldman Sachs Asset Management, L.P.	0.67%	-	0.67%	17.68%	7.38%	5.13%
Seeks long-term capital appreciation.	Transamerica Great Lakes Advisors Large Cap Value VP - Service Class(6) Sub-Advised by:Great Lakes Advisors LLC	0.97%	-	0.97%	12.78%	9.66%	N/A
Seeks long-term capital appreciation.	Transamerica International Focus VP - Service Class Sub-Advised by:Epoch Investment Partners, Inc.	1.10%	-	1.10%	12.27%	8.75%	4.09%
Seeks long-term capital growth, consistent with preservation of capital and balanced by current income.	Transamerica Janus Balanced VP - Service Class Sub-Advised by:Janus Henderson Investors US LLC	0.99%	-	0.99%	15.01%	9.00%	7.27%
Seeks long-term capital appreciation.	Transamerica Janus Mid-Cap Growth VP - Service Class Sub-Advised by:Janus Henderson Investors US LLC	1.11%	-	1.11%	16.80%	12.97%	7.98%
Seeks current income and preservation of capital.	Transamerica JPMorgan Asset Allocation - Conservative VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc.	0.99%	-	0.99%	6.83%	3.76%	3.04%
Seeks current income and preservation of capital.	Transamerica JPMorgan Asset Allocation - Growth VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc.	1.11%	-	1.11%	20.00%	11.61%	7.40%

PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY - (Continued)

Investment Objective	Underlying Fund Portfolio and Adviser/Sub-adviser (1)	Current Expenses	Platform Charges	Current Expenses Plus Platform Charges	Average Annual Total Returns (as of 12/31/22)
1 year	5 years	10 years
Seeks capital appreciation and current income.	Transamerica JPMorgan Asset Allocation - Moderate VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc.	1.02%	-	1.02%	8.86%	5.31%	4.13%
Seeks capital appreciation with current income as a secondary objective.	Transamerica JPMorgan Asset Allocation - Moderate Growth VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc.	1.08%	-	1.08%	11.93%	7.59%	5.41%
Seeks to earn a total return modestly in excess of the total return performance of the S&P 500® (including the reinvestment of dividends) while maintaining a volatility of return similar to the S&P 500®.	Transamerica JPMorgan Enhanced Index VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc.	0.87%	-	0.87%	27.39%	16.10%	11.67%
Seeks capital appreciation with current income as a secondary objective.	Transamerica JPMorgan International Moderate Growth VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc.	1.14%	-	1.14%	8.70%	5.68%	3.33%
Seeks current income and preservation of capital.	Transamerica JPMorgan Tactical Allocation VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc.	1.02%	-	1.02%	8.57%	3.90%	3.44%
Seeks high total return through the combination of income and capital appreciation.	Transamerica Madison Diversified Income VP - Service Class Sub-Advised by:Madison Asset Management. LLC	1.08%	-	1.08%	3.97%	4.51%	4.38%
Seeks capital appreciation.	Transamerica Market Participation Strategy VP - Service Class Sub-Advised by:PGIM Quantitative Solutions LLC	0.98%	-	0.98%	11.55%	9.06%	6.12%
Seeks high total return..	Transamerica Morgan Stanley Global Allocation VP - Service Class Sub-Advised by:Morgan Stanley Investment Management Inc.	1.28%	-	1.28%	13.69%	7.12%	4.51%
Seeks to provide capital appreciation and income while seeking to manage volatility.	Transamerica Morgan Stanley Global Allocation Managed Risk - Balanced VP - Service Class Sub-Advised by:Milliman Financial Risk Management LLC	1.45%	-	1.45%	9.00%	3.64%	N/A
Seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada.	Transamerica MSCI EAFE Index VP - Service Class Sub-Advised by:SSGA Funds Management, Inc.	0.61%	0.15%	0.76%	17.46%	7.80%	N/A
Seeks to provide a high total investment return through investments in a broadly diversified portfolio of stock, bonds and money market instruments.	Transamerica Multi-Managed Balanced VP - Service Class Sub-Advised by:J.P. Morgan Investment Management Inc. and Aegon USA Investment Management, LLC	0.89%	-	0.89%	18.44%	10.16%	7.75%

PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY - (Continued)

Investment Objective	Underlying Fund Portfolio and Adviser/Sub-adviser (1)	Current Expenses	Platform Charges	Current Expenses Plus Platform Charges	Average Annual Total Returns (as of 12/31/22)
1 year	5 years	10 years
Seeks maximum real return, consistent with appreciation of capital.	Transamerica PineBridge Inflation Opportunities VP - Service Class Sub-Advised by:PineBridge Investments LLC	0.78%	-	0.78%	5.44%	2.87%	2.00%
Seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index.	Transamerica S&P 500 Index VP - Service Class Sub-Advised by:SSGA Funds Management, Inc.	0.39%	0.15%	0.54%	25.73%	15.20%	N/A
Seeks to maximize total return.	Transamerica Small/Mid Cap Value VP - Service Class Sub-Advised by:Systematic Financial Management L.P. & Thompson, Siegel & Walmsley LLC	1.07%	-	1.07%	12.15%	11.19%	7.88%
Seeks long-term growth of capital by investing primarily in common stocks of small growth companies.	Transamerica T. Rowe Price Small Cap VP - Service Class Sub-Advised by:T. Rowe Price Associates, Inc.	1.09%	-	1.09%	20.88%	11.15%	8.74%
Seeks maximum long-term total return, consistent with reasonable risk to principal, by investing in a diversified portfolio of common stocks of primarily non-U.S. issuers.	Transamerica TS&W International Equity VP - Service Class Sub-Advised by:Thompson, Siegel & Walmsley LLC	1.11%	-	1.11%	15.26%	7.39%	3.59%
Seeks growth from capital appreciation.	Transamerica TS&W Mid Cap Value Opportunities VP-Service Class(7) Sub-Advised by:J.P. Morgan Investment Management Inc.	1.02%	-	1.02%	10.57%	10.68%	7.74%
Seeks to maximize long-term growth.	Transamerica WMC US Growth VP - Service Class(8) Sub-Advised by:Wellington Management Company, LLP	0.91%	-	0.91%	41.72%	17.45%	13.31%

PORTFOLIO COMPANIES AVAILABLE UNDER THE POLICY - (Continued)

NOTE: All underlying fund portfolios in the Transamerica Series Trust are advised by Transamerica Asset Management. The entities listed are the sub-advisors unless otherwise indicated.

There are no Portfolios that have been closed to new investments or new investors.

The Prospectus and Statement of Additional Information (SAI) include additional information. The Prospectus and SAI which have the same effective date as this summary prospectus are incorporated by reference as amended or supplemented. The Prospectus and SAI are available without charge upon request. For a free copy call us at (800)525-6205 or write us at:

Transamerica Life Insurance Company or Transamerica Financial Life Insurance Company
6400 C Street S.W.
Cedar Rapids, IA 52499

Reports and other information about the Separate Account are available on the SEC's website at sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: [email protected].