Asian financial markets are at various stages of development and sophistication. Most financial systems are still dominated by banks, reflecting a lack of capacity in the region's non-banking sectors and capital markets. A non-diversified financial sector also represents a risk in terms of the inability to deal with financial shocks and periods of uncertainty. The growth and development of the insurance and pensions sector, therefore, deserves greater policy priority. The seminar highlighted gaps in international financial architecture and national regulatory systems, disaster risk financing and management of longevity risks, the dynamics of international insurance regulation and supervision, and more.