Pine Walk Europe SRL is a mandated underwriter based in Belgium.  Pine Walk Europe is mandated to write and manage insurance contracts in the name and on behalf of insurance undertakings.

Pine Walk Europe, through its divisions, Oakside, Perigon and Kersey, is tasked with determining the nature and size of the risk that is to be insured and the insurance premium to be paid.  Pine Walk Europe currently writes insurance for Surety, Product Recall and Upstream Energy coverages.

Pine Walk Europe takes a proactive and innovative approach to underwriting to ensure that the client’s needs are met.

Pine Walk Europe is regulated by the Financial Services and Markets Authority (FSMA), the Belgian financial regulator.  The company is based at C/O 4th Floor South Centre Titanium, 1060 Bruxelles  ON: BE0752659028



Business Lines

Pine Walk Europe underwrite risks for highly specialised coverages across Surety, Product Recall and Upstream Energy.

All insurance undertakings have currently been mandated by Fidelis Insurance Ireland DAC (FIID).  Fidelis Insurance Ireland DAC is a subsidiary of Fidelis Insurance Holdings Limited. Fidelis Insurance Holdings Limited is a privately owned Bermuda-based holding company, which, through its subsidiaries, is a global provider of speciality insurance and reinsurance products. Fidelis is rated A (Excellent) by A. M. Best Company, Inc.


Oakside provide Surety bonds for small to mid-market construction companies.  They have developed flexible bond wordings and solutions to allow their clients to deliver a range of construction projects.

Upstream Energy

Kersey focuses on the Upstream Energy market and provide operational cover for a broad spectrum of property damage exposures as well as business interruption, well control, construction, Gulf of Mexico and OPA for offshore facilities

Product Recall

Product Recall & Contamination insurance protects the insured from first party costs arising from a contaminated/defective product causing injury or third-party property damage.
Where businesses have found that they do not have insurance protection for the recall costs, this can be potentially catastrophic to their balance sheet.

Specialty Marine

Specialty Marine provides a range of coverages from Hull and Machinery to Shipbuilding as well as Cargo across the globe.

Our Team

Andy Ray

Andy has over 30 years’ experience in the Surety industry, initially as Managing Director of College Hill Underwriters.  He was instrumental in establishing the entry of Hermes Kreditversicherungs into the UK Surety market, before running the London operation of Euler Hermes Kreditversicherungs AG.  Most recently Andy was Managing Director of KL Surety, one of the leading independent specialist Surety brokers in the market.

Paul Calnan

Paul has 30 years’ experience in the London insurance market specialising in upstream energy insurance. Paul began his career at Octavian Underwriting Limited prior to its acquisition by Markel before developing books at Navigators, C.V. Starr and Ironshore. He has also managed energy books written in Dubai, Hong Kong, Houston, Singapore and Toronto.

Ian Bailey

Ian has over 20 years’ experience in underwriting.  Having originally focused on the food and beverage space, Ian has played a key role in developing a market for specialist recall products – for example automotive / non automotive components, restaurant contamination insurance, pharmaceutical products (including medical devices), consumer durables, packaging risks and retailer recall propositions.

Clive Washbourn

Clive has over 35 years’ experience in the Marine and Specialty markets with stellar underwriting performance across cycles with a reputation for building balanced portfolios and delivering upper quartile results in the Lloyd’s Market. He has extensive relationships with brokerages and global marine insurance buyers and has built and developed high performing teams. Clive is an admired practitioner in the London market, most recently working as Head of Marine at Beazley.

Rinku Patel

Rinku is an ICAEW qualified accountant having trained with BDO and moving to Andersen.  Rinku was CFO/COO of DUAL, CFO of Howden and Director of Finance at Hyperion before consulting in 2016/7 supporting a number of businesses in the intermediary space.  Industry Experience includes Software Development, Information businesses and Insurance (at DUAL, Howden and Hyperion).  Rinku founded Pine Walk in 2017 with Fidelis, as an MGA incubator, raised finance for Pine Walk and Radius and has since set up a further 3 MGAs.

Tom Lawson

Tom qualified as an ACCA accountant at Reed Business Information, the B2B publishing and data subsidiary of FTSE listed Reed Elsevier.  In 2010 he joined DUAL International as Group Financial Controller, consolidating the accounts and insurance data of multiple international businesses.  In 2014, he moved away from finance to focus on the development of insurance systems and data reporting.  After leaving DUAL in 2016, Tom worked for a number of start-ups in the same role he performs today, looking after the IT side of the Pine Walk Group including network security, system development and data reporting.

Nigel Lee

Nigel has 25+ years experience of enhancing insurance operations in the Lloyd’s, London and Asian insurance markets.  He has held leadership positions within entities including Sturge, ACE, Markel International and the Hyperion Group in Hong Kong whilst working in operations, compliance, finance, project management, claims, reporting/data, and as the business liaison for IT, actuarial and group internal audit teams.  Nigel has a Master’s Degree in Insurance and Risk Management and is a Fellow of the Chartered Insurance Institute.