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  "documentTitle": "Scalar calibration For Life insurance business",
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  "authorName": "Oliver Wyman",
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      "text": "The resulting .72 factor was then selected based on the split in annualized premium between Third and First sectors.",
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      "text": "Adjustment steps to determine a Japan health scalar:\na. Allocate available capital to the First Sector and Third Sector based on insurance liabilities attributable to each sector.\nb. Use actual SMR filings to establish required capital specifically attributed to the First Sector and Third Sector.\nc. Calculate a solvency ratio for each sector by dividing the results under a., by those under b., above.\nd. Using the solvency ratios calculated under (c), an adjustment factor for health vs. life SMR required capital was derived. The resulting .72 factor was then selected based on the split in annualized premium between Third and First sectors. The factor is applied to the life ERR scalar which produces the proposed 0.89 Health scalar (0.72 adjustment factor x 1.24 life scalar).",
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      "text": "Health scalar: 0.89",
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      "text": "Additional Information: Weighted average Japan solvency ratio data for life insurers used for both this report and by Oliver Wyman indicate an approximately 15% drop in the ratios in calendar 2022 compared to both 2021 and 2020. ... Example: Using 2022 data alone would have generated a life scalar of 1.05 (.76 for health) for Japan.",
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      "text": "2. The proportion of Third Sector to First Sector insurance written by AFLAC vs. a typical Japanese life insurer. AFLAC's Japan premium profile is approximately 75% health and 25% life. This is roughly the opposite of a typical Japanese life insurer.",
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      "text": "Louis Felice, Consultant\nlouisfelice@gmail.com\n(518)424-1970",
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