Vincent Embser

FSA, CERA, MAAA

Principal & Consulting Actuary

Chicago, IL, US

Vincent Embser is a principal and consulting actuary with Milliman's Financial Risk Management Practice in Chicago, specializing in variable annuity modeling, assumptions, and hedging. He joined the firm in 2011.

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Experience

Vincent has worked for over 10 years as an analyst and consultant in the variable annuity space, with a focus on stochastic modeling of VAs for valuation, reserving, and hedging. He has extensive experience developing nested stochastic projections of fair value and statutory reserves, including projections of hedging strategies, GAAP MRBs under LDTI, and AG43 / VM-21 reserves. He has worked on the development and implementation of valuation models for multiple dynamic hedge programs, covering blocks of variable annuities issued in the US, Europe, and Japan. He has also been involved in several M&A projects involving large U.S. life insurance companies, supporting appraisals and buy-side due diligence.

In addition, Vincent has worked with the Milliman Recon team on a number of industry-wide experience studies of VA policyholder behavior, which have incorporated data science and predictive analytic techniques to improve understanding of lapse and withdrawal behavior.

Publications and Presentations

Jenny Jin and Vincent Embser. "Comparing Policyholder Efficiency in Variable Annuity Lapses." Published by the Society of Actuarials, Predictive Analytics 2016 Call for Essays.

Professional Designations

Fellow of the Society of Actuaries
Chartered Enterprise Risk Analyst
Member of the American Academy of Actuaries

Education

Masters of Actuarial Science, University of Waterloo (2011)
Bachelors of Arts in Mathematics and Music, Boston College (2009)

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Publications

Read their latest work

Article

Considerations for new entrants to the pension risk transfer market

06 December 2024 - by Jessica Crowson, Vincent Embser, Arthur Hordijk, Christiaan Mulder, Jake Pringle, Stuart Silverman, Cornelis Slagmolen, Lin Sun

Opportunity in a growing market for pension risk transfers: We review some considerations for new entrants in the UK, US and the Netherlands.

Article

Milliman VALUES 2018 GLWB industry lapse study

13 February 2019 - by Eileen S. Burns, Vincent Embser, Vincent Haupt, Jenny Jin, Ben Johnson, Matthias Kullowatz

The 2018 Milliman VALUES Guaranteed Lifetime Withdrawal Benefit (GLWB) industry lapse and utilization studies included 3 million policyholders from eight large variable annuity writers, representing roughly $350 billion of account value and covering a range of GLWB product designs as well as demographic attributes.

Article

Milliman VALUES: 2018 GLWB industry utilization study

27 November 2018 - by Eileen S. Burns, Vincent Embser, Vincent Haupt, Jenny Jin, Ben Johnson, Matthias Kullowatz

The 2018 Milliman VALUES GLWB lapse and utilization studies included three million policyholders from eight large VA writers, representing roughly $350 billion of account value and covering a range of GLWB product designs as well as demographic attributes.

Article

Milliman VALUES 2016: GLWB Utilization study

15 May 2017 - by Eileen S. Burns, Jenny Jin, Vincent Embser, Matthias Kullowatz, Ben Johnson, David Wang, Sam Nandi

Milliman recently completed its 2016 Milliman VALUES GLWB Utilization study, which included two million policyholders from seven large VA writers, representing roughly $220 billion of account value (based on initial purchase amounts) and covering a range of GLWB product designs as well as demographic attributes.

Vincent Embser

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Experience

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Read their latest work

Considerations for new entrants to the pension risk transfer market

Milliman VALUES 2018 GLWB industry lapse study

Milliman VALUES: 2018 GLWB industry utilization study

Milliman VALUES 2016: GLWB Utilization study

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Vincent Embser

Experience

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