The Australian Prudential Regulation Authority (APRA) has appointed Ian Laughlin as Executive Member, replacing John Trowbridge, whose term concludes at the end of this month.

Mr Laughlin, an actuary with extensive experience in the financial services and insurance industries, will begin his three-year term at the start of next month.

He is currently Chairman of the Board Audit Committee of AMP Life, and has previously served as MD of the UK subsidiaries of AMP Financial Services and held senior management positions with Suncorp and National Mutual.

Financial Services Minister Chris Bowen says Mr Laughlin is highly regarded in the industry and his appointment “ensures that the APRA Executive continues to have significant insurance expertise with the departure of John Trowbridge”.

“I would like to express my appreciation for the significant contribution Mr Trowbridge has made to APRA over the past four years and welcome Mr Laughlin, who will be a valuable addition to APRA.”