Theo Butt (pictured above), CEO UK at Convex Insurance, has been elected as the next chair of the International Underwriting Association (IUA), succeeding Claire McDonald (pictured below) of SCOR Business Solutions at the end of her two-year term. Butt’s appointment, confirmed at the IUA Board’s October meeting, will take effect from January 1, 2026.
Butt has served on the IUA board since April 2023 and is currently deputy chair. His election comes at a time of ongoing change and challenge for the London company market, with the IUA prioritising digital transformation, operational efficiency, and the implementation of new market-wide initiatives.
Chris Jones, chief executive of the IUA, welcomed the appointment, stating: “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 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.”
Claire McDonald
Outgoing chair McDonald was thanked for her contribution to the association’s strategy, particularly her advocacy on technical underwriting and claims issues for specialty lines, and her support for the development of new digital services. McDonald also played a key role in supporting the IUA’s new senior leadership team structure, which was introduced earlier this year as part of a broader effort to modernise the association’s governance and operations.
Butt said: “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.”
The IUA has recently been active in driving forward digital initiatives, including the rollout of new electronic placement and claims systems, and has been a vocal participant in market-wide discussions on data standards and operational resilience. The association has also been involved in advocacy on regulatory issues and has supported the London Market’s efforts to attract new talent and adapt to changing risk landscapes.
Butt’s appointment comes as the IUA and its members navigate a period of heightened competition, ongoing technological change, and evolving client expectations - factors that are likely to shape the association’s agenda in the coming years.
