
Lammy Tsang
Consulting Actuary
Hong Kong, CN
Lammy Tsang is a consulting actuary in Milliman’s Life Insurance Consulting Practice in Hong Kong. She joined the firm in 2021.
Experience
Lammy's experience includes the following:
- Supporting a strategy consulting project involving Thailand market and product analysis for a multinational insurer
- Carrying out Prophet model point checking for the EV review of a Thailand insurer on a traditional embedded value basis
- Assisting in strategy projects focusing on market benchmarking, including new business margin/assumptions benchmarking and expense assumptions benchmarking
Prior to joining Milliman, Lammy worked as an Actuarial Analyst at AXA Hong Kong, and was involved in various tasks, including:
- Building the consolidated reinsurance pricing model for reporting and profit testing
- Assisting in the reinsurance quotation process, including pricing spreadsheet preparation, reinsurance proposal and treaty drafting, facultative case management, etc.
- Performing data checking for reinsurance premium and claim settlements and managing experience studies
- Preparing a 2nd opinion report on the Critical-illness-related products of other AXA entities for the product launch internal approval
In addition, she also worked at Swiss Re as an intern on topics including:
- Actuarial modeling for reinsurance quotation
- Credibility experience study
Professional Designations
- Student, Society of Actuaries
Education
- Bachelor of Business Administration in Insurance, Financial and Actuarial Analysis from the Chinese University of Hong Kong
Publications
Read their latest work
Article
The Milliman Fulfillment Ratio Index: Reporting year 2024
01 May 2026 - by Julian Man, Clement Bonnet, Lammy Tsang, Valensis Justiani
In Hong Kong, Milliman’s Fulfillment Ratio Index shows slightly lower levels for the top 10 insurers in 2024 reports, with modest improvement plausible for 2025.
Article
香港RBC分析: 2024年末時点の生命保険業界ソルベンシー比率
31 October 2025 - by Lammy Tsang, Julian Man, Clement Bonnet
本稿では、2024年末時点の香港RBC生命保険業界のソルベンシー比率、利用可能資本、必要資本について分析します。
Article
Analysis of HKRBC: life insurance industry solvency ratio as of year-end 2024
31 October 2025 - by Lammy Tsang, Julian Man, Clement Bonnet
Hong Kong: We analyse the HKRBC life insurance industry solvency ratio, available capital, and capital requirement as of year-end 2024
Article
The Milliman Fulfillment Ratio Index
11 April 2025 - by Julian Man, Lammy Tsang, Clement Bonnet, Valensis Justiani, George Leung
In anticipation of a regulatory change in Hong Kong, we present an updated Milliman Fulfillment Ratio Index and analyze its historical changes.
Article
(香港)ミリマン充足率指数:2023年度
11 April 2025 - by Julian Man, Lammy Tsang, Clement Bonnet, Valensis Justiani, George Leung
香港での規制変更を見据え、ミリマン充足率指数のアップデートを行い、その過去の変化について分析します。
Article
Hong Kong: Illustration rate cap for participating products
14 March 2025 - by Julian Man, Alex Bryant, Clement Bonnet, George Leung, Lammy Tsang
In our latest Asia e-Alert for Hong Kong, we explore the potential implications of a new regulatory requirement regarding benefit illustrations for par products.
Article
香港:有配当商品の例示用配当率の上限
14 March 2025 - by Julian Man, Alex Bryant, Clement Bonnet, George Leung, Lammy Tsang
本稿では、香港の有配当商品の利益の例示に関する新たな規制要件による潜在的影響について確認します。