The International Underwriting Association (IUA), the representative body for re/insurers in the London company market, has announced that Theo Butt, Chief Executive Officer, UK at Convex Insurance, has been elected as its new Chair, effective January 1st 2026.
Butt has been a member of the IUA Board since April 2023 and currently serves as a Deputy Chair of the association. His election took place during the IUA Board’s October meeting.
He brings more than two decades of industry experience to the role, having served as CEO of Convex Insurance, UK for the past five years. Prior to that, he held senior positions at Neon, Ascot Group, and Marsh.
Chris Jones, Chief Executive of the IUA said, “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 what is a critical time for the with challenging market conditions. I look forward to working with him as we strive towards further digital transformation and operational efficiency and shape future strategies for both the IUA and wider London Market.
“I would also like to thank Claire McDonald for her support of the IUA’s work and driving delivery of our corporate strategy. As Chair of the association she has played a vital role, advocating with authority on technical underwriting and claims issues for specialty lines and monitoring the development of new digital services for our sector. Claire has also given huge support to myself as incoming Chief Executive of the IUA and helped implement our new senior leadership team structure.”
Theo Butt commented, “I am delighted to have been appointed the new Chair of the IUA and am looking forward to working closely with Chris over the next couple of years. I have enjoyed supporting Claire in her role as Chair and want to thank her for all her hard work, and in managing a very smooth transition. It is both a challenging and exciting time in the London Market and I am really looking forward to working with the team to continue to promote the IUA agenda across the many initiatives and projects it is leading.”
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