Solvency 2 requirements are a reality in many countries. These papers discuss the issues faced by insurers in emerging economies who face a shortage of data and numerous other model validation issues. The first paper addresses the challenges in Armenia in estimating the "technical provisions" regarding best estimate valuation and risk margin. The second paper discusses models to evaluate underwriting risk, reinsurance credit risk, market risk, and operational risk for reinsurers in developing countries.

91-A: Internal Model for Estimating Risks of Non-Life Insurance Companies for Developing Countries

Khadija Gasimova

91-B: The possibility of Best Estimate Valuation and Risk Margin Calculation of Technical Provisions as Set Out in Solvency II Framework Directive by General Insurance Companies in Armenia and the Need for Additional Actuarial Guidance

Astghik Ananyan, Margarita Kirakosyan, Irina Sahakyan