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  "documentTitle": "Scalar calibration For Life insurance business",
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  "authorName": "Oliver Wyman",
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  "notes": "The slide compares solvency ratios before and after the regulatory shift, noting a significant impact on Core Solvency Ratios but a modest impact on Comprehensive Solvency Ratios.",
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      "text": "Proposed approach (for discussion today): Given modest impact to relevant ratio for GCC and 3-year transitional period, allow changes to be captured via regular scalar updates",
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      "text": "Capital required under C-ROSS Phase 2 is expected to be higher than under Phase 1 for life insurers, although impact to comprehensive solvency ratio appears low. No impact studies were identified. Industry-level reporting does not include overlapping period. Greater impact to core ratio due to caps implemented on amount of future profits recognizable as Tier 1 capital. Industry impacts expected to be larger for non-life insurers.",
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      "text": "China shifted from their previous capital regime C-ROSS Phase 1 to C-ROSS Phase 2 beginning in 2022. The regulator is granting insurers up to 3 years to apply transitional measures.",
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      "text": "Source: Company public filings",
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      "text": "COUNTRY-SPECIFIC DETAILED ANALYSIS – CHINA",
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