Ian Laughlin, the former Australian Prudential Regulation Authority (APRA) deputy chairman, has won the Actuaries Institute’s actuary of the year award.

Mr Laughlin is Chairman of OnePath Life, OnePath General Insurance and ANZ Lenders’ Mortgage Insurance.

Over the past two years he has led the Actuaries Institute’s taskforce preparing guidelines for a global accounting standard involving insurance contracts that will take effect in 2021.

“[He] has made a major contribution to the profession, both with his insight into risk management and his work helping prepare Australian businesses for worldwide changes in insurance contracts,” Actuaries Institute President Barry Rafe said.

As deputy chairman of APRA for five years until 2010, he oversaw implementation of new capital standards for insurers.

Before APRA Mr Laughlin was a member of the executive committee at the Basel-based International Association of Insurance Supervisors.

He has served on the Actuaries Institute council and held senior positions at Suncorp, AMP and National Mutual in Australia, New Zealand and Hong Kong.