John Trowbridge (pictured) has been awarded the Medal of the Order of Australia (OAM) in recognition of his contributions to the financial services sector, particularly within risk management and actuarial disciplines.
The Actuaries Institute acknowledged Trowbridge’s role in regulatory development and policy reform that has shaped Australia’s insurance landscape over several decades.
Trowbridge’s career has included roles in consultancy, executive leadership, regulatory positions, and governance.
His work has spanned both public and private sectors, including a review of natural disaster insurance policy following the 2011 floods and leadership of the Life Insurance and Advice Working Group, which contributed to reforms implemented in 2018.
“I have been privileged to work across many facets of the financial services industry throughout my career, always with the aim of strengthening our systems and improving outcomes for Australians,” Trowbridge said. “This recognition is deeply humbling, and I hope my contributions have helped build a more resilient and fairer financial services sector for future generations.”
Trowbridge has held positions on the Financial Sector Advisory Council and the Australian Securities and Investments Commission’s (ASIC) External Advisory Panel, in addition to receiving several professional awards, including the Actuaries Institute’s Actuary of the Year and Distinguished Service recognition.
Trowbridge’s recognition comes amid renewed focus on regulatory change in the strata insurance sector.
Consumer groups are calling for the New South Wales government to proceed with a plan to prohibit strata managers from earning commissions on insurance arrangements.
The Owners Corporation Network (OCN) and the Australian Consumers Insurance Lobby (ACIL) said the change would address perceived conflicts of interest and improve transparency in insurance dealings for apartment buildings.
Opposition to the commission ban has emerged from within the strata sector, with stakeholders warning of financial pressure on management firms if the reforms proceed.
Bobby Lehane, chief executive of PICA Group, argued that the removal of insurance commissions could disrupt business operations already dealing with constrained profit margins.
Lehane cited findings from a recent PICA survey conducted across NSW, Victoria, and Queensland.
In NSW, 34% of respondents supported the continuation of commissions, while 38% backed a move to fixed fees paid by insurers. Another 29% said they would accept commission removal if strata levies were adjusted.
