The APEC Business Advisory Council (ABAC) convened the Asia-Pacific Financial Forum (APFF) Symposium in Melbourne, Australia, on August 10, 2015. The Symposium was titled “ADVANCING THE AGENDA FOR ASIA-PACIFIC FINANCIAL DEVELOPMENT AND INTEGRATION”.
This symposium was held to provide a venue for final discussions among ABAC members and APFF collaborators of this year’s APFF report, prior to ABAC’s endorsement during its meeting over the following days. The main objective of this session is to elucidate how the APFF’s initiatives in promoting insurance and pension funds’ long-term business, investments in infrastructure and capital markets can contribute to the region’s broader economic and business development in a concrete and tangible way. This was followed by a series of short comments by APFF sherpas on the work of APFF in 3 areas related to insurance and pension funds.
Talking about longevity, according to the most recent survey, as of September 2014 in Japan, there were 58,820 people who are 100 years or older. It means Yankee’s Stadium could be filled by those people. And I expect that Melbourne Cricket Ground, with a capacity of 100,000, could be filled by them in the coming years. You should have joined us all to a footcall game yesterday to feel the magnitude of aging in our country
[from Mack’s speech during the APFF Symposium in Melbourne]
Mack made a presentation regarding the APFF Insurance and Retirement Income Work Stream with specific focus on regulatory and accounting issues when promoting the long-term business roles of insurance and pensions and the development of retirement systems.
This symposium was followed by the Advisory Group meeting, where Mack updated the progress of the APFF Insurance and Retirement Income Work Stream activities.