The International Underwriting Association (IUA), which represents re/insurers in the London company market, has announced the election of Theo Butt, Chief Executive Officer, UK at Convex Insurance, as its new Chair, effective from 1st January 2026.
Theo Butt succeeds Claire McDonald, Chief Executive Officer of Scor Business Solutions, who is stepping down after completing a fixed two-year term. McDonald has been serving on the IUA Board since 2021.
Butt has been a member of the IUA Board since April 2023 and currently holds the position of Deputy Chair of the association. His election to the Chair took place during the IUA Board’s meeting in October.
With over two decades of industry experience, Butt brings a wealth of knowledge to the role. He has been CEO of Convex Insurance, UK, for the past five years. Before this, he held senior positions at Neon, Ascot Group, and Marsh.
Chris Jones, Chief Executive of the IUA, commented, “I am delighted to congratulate Theo Butt on his appointment as Chair of the IUA. He has been a respected and influential member of the IUA Board for the past two years and will be an effective leader for the London company market at a time of challenging market conditions. I look forward to working with him as we aim to further digital transformation, enhance operational efficiency, and shape future strategies for both the IUA and the wider London market.”
Jones also expressed gratitude to Claire McDonald for her support during her tenure as Chair. “Claire has played a vital role in driving the delivery of our corporate strategy. She has been an authoritative advocate on technical underwriting and claims issues for specialty lines and has overseen the development of new digital services for our sector. Her contribution has been invaluable, both as Chair and in helping to implement our new senior leadership team structure.”
Theo Butt remarked, “I am honoured to have been appointed Chair of the IUA and I look forward to working closely with Chris over the next few years. It has been a pleasure supporting Claire in her role as Chair, and I would like to thank her for all her hard work and for managing such a smooth transition. The London Market faces both challenges and opportunities, and I am excited to continue promoting the IUA’s agenda across the many initiatives and projects it leads.”