Convex Insurance’s Theo Butt Elected as Chair of the IUA

The International Underwriting Association (IUA), which represents re/insurers within the London company market, has announced that Theo Butt, Chief Executive Officer, UK at Convex Insurance, will become its new Chair, effective from 1st January 2026.

Theo Butt will succeed Claire McDonald, Chief Executive Officer of Scor Business Solutions, who is stepping down after completing a fixed two-year term. McDonald has been a member of the IUA Board since 2021.

Butt, who has been on the IUA Board since April 2023, currently holds the position of Deputy Chair. His election to the role of Chair took place during the IUA Board’s meeting in October.

With more than two decades of experience in the industry, Butt brings significant expertise to the position. He has served as CEO of Convex Insurance, UK, for the past five years. Prior to this, he held senior roles 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 when market conditions are particularly challenging. I look forward to working closely with him as we focus on driving digital transformation, enhancing operational efficiency, and developing future strategies for both the IUA and the wider London market.”

Jones also took the opportunity to express his gratitude to Claire McDonald for her support during her tenure as Chair. “Claire has played a crucial role in advancing the delivery of our corporate strategy. She has been a strong advocate for technical underwriting and claims issues across specialty lines and has overseen the development of new digital services for our sector. Her contribution has been invaluable, both in her role as Chair and in helping to implement our new senior leadership team structure.”

Theo Butt commented, “I am honoured to have been appointed Chair of the IUA, and I am looking forward to working closely with Chris over the coming 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 ensuring such a smooth transition. The London Market is facing both challenges and opportunities, and I am excited to continue advancing the IUA’s agenda across the many initiatives and projects it leads.”