The presentation introduces the need to develop Solvency II Framework Directive Pillar I regarding best estimate valuation and risk margin calculation of technical provisions in Armenia. The main issues (such as quality of data, appropriate systems for organizations, etc) that need to be improved, solved or introduced will be presented. It will include the uncertainties that are specific to the region and will mention those requirements to the valuation techniques which may be adopted and applied in Armenia during three years time. It will also include the choice of

-the most relevant methods for determining the best estimate reserve and suggested simplifications or proxies, and 

-the guidelines for the calculation of risk margins.

The key draft content of the actuarial guidance regarding the coordination of technical provisions, assertion of the appropriateness of the methodologies and the assessment of the sufficiency and quality of the data will be suggested.