Complex sentence: New Business Strain is artificial in that it is a function of how a regulatory body, for example, might look at a life insurer's financial position, which tends not to be realistic, but rather conservative-because that is the role a regulator plays.
Split into simpler sentences: New Business Strain is artificial in that it is a function of how a regulatory body, for example, might look at a life insurer's financial position. This tends not to be realistic, but rather conservative-because that is the role a regulator plays.