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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Solid Oak Insurance

SOL · Secdex Exchange · Company statements

On this page
Company details
Legal name
Solid Oak Insurance PCC Limited
Listing
SOL on the Secdex Exchange, active (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

  • Revenue

    USD 1.38 million

    1,381,172 USD units · p15

    +48.9% vs 2024

  • Operating profit / (loss)

    −USD 116,555

    (116,555) USD units · p15

    Change not shown.

  • Profit / (loss) for the year

    USD 3,048

    3,048 USD units · p15

    −91.5% vs 2024

  • Total assets

    USD 1.86 billion

    1,859,270,776 USD units · p14

    +26.5% vs 2024

  • Total equity

    USD 208,460

    208,460 USD units · p14

    +1.5% vs 2024

  • Cash from operations

    USD 812,372

    812,372 USD units · p17

    Change not shown.

Large amounts are rounded for reading (USD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in USD units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source
  • FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Audited financial statementscomparative in FY2024 filing
Revenue 1,381,172 927,783 703,615
Reinsurance cost1 (470,000) (330,101) Not reported in this filing2
Gross profit 911,172 597,682 651,734
Other income 26,472 47,940 4,143
Operating expenses (1,054,199) (742,069) (570,938)
Operating loss3 (116,555) (96,447) 84,939
Investment revenue 123,527 154,124 553,696
Fair value adjustments4 –5 (1,000) –5
Finance costs (3,924) (9,137) –5
Profit before taxation 3,048 47,540 638,635
Taxation –6 (11,885) (72,135)
Profit for the year 3,048 35,655 566,500
Other comprehensive income –7 –7 –7
Total comprehensive income for the year 3,048 35,655 566,500
Cost of sales Not reported in this filing8 Not reported in this filing109 (51,881)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (7)
  1. “Reinsurance cost” is an issuer-specific line, not mapped to a shared definition: Note 14: reinsurance fee, deducted from revenue to reach gross profit.
  2. Not reported in this filing: Not reported under this line: the FY2024 Statement of Comprehensive Income (p16, text layer) prints no 'Reinsurance cost' line; the same position is printed as 'Cost of sales' (note 14) (51,881) for 2023, which is transcribed under cost_of_sales. The FY2025 document relabels that line 'Reinsurance cost' (p15). Not moved between concepts.
  3. Printed under different labels across filings: “Operating (loss) profit”; “Operating loss”.
  4. “Fair value adjustments” is an issuer-specific line, not mapped to a shared definition: Fair value loss on an investment in a subsidiary (2024: Solid Oak (Mauritius) Ltd, note 20).
  5. Not reported in this filing: Not reported under this line: the FY2025 Statement of Comprehensive Income (p15, text layer) prints no 'Cost of sales' line; the line after Revenue is printed as 'Reinsurance cost' (note 14) (470,000) for 2025, which is transcribed under native.co_t5atre25283d.reinsurance_cost. Not moved between concepts.
  6. Audited financial statements dated 2025-04-22 presents this line for this year: (330,101) (p16). Not shown in this column, which follows one filing's presentation.
  7. Not reported in this filing: Not reported under this line: the FY2025 Statement of Comprehensive Income (p15, text layer) prints no 'Cost of sales' line; the line after Revenue is printed as 'Reinsurance cost' (note 14) (330,101) for 2024, which is transcribed under native.co_t5atre25283d.reinsurance_cost. Not moved between concepts.

Balance sheet

Balance sheet, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Audited financial statementscomparative in FY2024 filing
Property, plant and equipment 732 16,011 18,974
Investments in subsidiaries1 196,892 125,000 136,000
Investments underwriting policy liabilities2 1,388,538,539 1,024,071,707 1,143,316,014
Reinsurance assets3 466,469,541 444,923,070 488,524,152
Non-current assets (unlabelled subtotal) 1,855,205,704 1,469,135,788 1,631,995,140
Loans to group companies4 8,852 –5 Not reported in this filing6
Loan to shareholder7 405,406 405,406 –5
Trade and other receivables 3,098,016 37,976 38,149
Cash and cash equivalents 552,798 66,914 339,406
Current assets (unlabelled subtotal) 4,065,072 510,296 377,555
Total Assets 1,859,270,776 1,469,646,084 1,632,372,695
Share capital8 100,000 100,000 100,000
Reserves9 1,900 2,200 2,500
Retained income 106,560 103,212 67,257
Equity (unlabelled subtotal) 208,460 205,412 169,757
Policy liabilities10 1,855,008,079 1,468,994,777 1,631,840,166
Trade and other payables 4,053,495 177,716 252,995
Loans from group companies 100 256,294 26,248
Loan from shareholder11 642 –12 11,394
Current tax payable –12 11,885 72,135
Current liabilities (unlabelled subtotal) 4,054,237 445,895 362,772
Total Liabilities 1,859,062,316 1,469,440,672 1,632,202,938
Total Equity and Liabilities 1,859,270,776 1,469,646,084 1,632,372,695
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (10)
  1. “Investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 3: unconsolidated subsidiaries at cost.
  2. “Investments underwriting policy liabilities” is an issuer-specific line, not mapped to a shared definition: Note 4: investments at fair value and at amortised cost backing the policy liabilities.
  3. “Reinsurance assets”: mapping to a shared definition is uncertain. Reinsurance of annuity premiums at amortised cost under IFRS for SMEs (note 5), not an IFRS 17 measurement.
  4. “Loans to group companies” is an issuer-specific line, not mapped to a shared definition: Note 6.
  5. Not reported in this filing: Not reported: the FY2024 Statement of Financial Position (p15, text layer) prints no 'Loans to group companies' asset line; its current assets are 'Loan to shareholder', 'Trade and other receivables' and 'Cash and cash equivalents', and 'Loans from group companies' appears only under current liabilities.
  6. “Loan to shareholder” is an issuer-specific line, not mapped to a shared definition: Note 7.
  7. “Share capital” is an issuer-specific line, not mapped to a shared definition: Note 10: ordinary shares (1,000) and share premium (99,000) printed as one line.
  8. “Reserves” is an issuer-specific line, not mapped to a shared definition: Maturity guarantee reserve (statement of changes in equity, PDF p16).
  9. “Policy liabilities”: mapping to a shared definition is uncertain. Annuity and endowment policies at fair value plus private placement life policies at amortised cost (note 11), under IFRS for SMEs; the only non-current liability.
  10. “Loan from shareholder” is an issuer-specific line, not mapped to a shared definition: Note 7.

Cash flow

Cash flow, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Audited financial statementscomparative in FY2024 filing
Cash generated from (used in) operations1 704,654 (168,146) 441,943
Interest income 123,527 154,124 153,280
Finance costs2 (3,924) (9,137) –3
Tax paid (11,885) (72,135) –3
Net cash from operating activities 812,372 (95,294) 995,639
Purchase of property, plant and equipment –4 (444) (15,192)
Sale of property, plant and equipment 9,808 –4 Not reported in this filing5
Movement in loans to group companies6 (8,852) –4 Not reported in this filing7
Acquisition of subsidiaries8 (206) –4 Not reported in this filing9
Increase in investment in subsidiaries10 (71,686) –4 Not reported in this filing11
Disposal of subsidiary12 –4 10,000 –4
Net cash from investing activities (70,936) 9,556 (140,192)
Movement in loans from group companies13 (256,194) 230,046 (34,269)
Movement in shareholder loans14 642 (416,800) (18,002)
Net cash from financing activities (255,552) (186,754) (827,271)
Total cash movement for the year 485,884 (272,492) 28,176
Cash at the beginning of the year 66,914 339,406 311,230
Total cash at end of the year 552,798 66,914 339,406
Dividends received15 Not reported in this filing16 Not reported in this filing1617 400,416
Acquisition of subsidiary18 Not reported in this filing19 Not reported in this filing2017 (125,000)
Dividends paid Not reported in this filing21 Not reported in this filing2117 (775,000)
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (19)
  1. Printed under different labels across filings: “Cash (used in) generated from operations”; “Cash generated from (used in) operations”.
  2. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Operating activities: finance costs paid (interest to a subsidiary, note 20).
  3. Not reported in this filing: Not reported: the FY2024 Statement of Cash Flows (p18, text layer) prints no sale-of-property-plant-and-equipment line; its investing lines are 'Purchase of property, plant and equipment', 'Acquisition of subsidiary' and 'Disposal of subsidiary'.
  4. “Movement in loans to group companies” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  5. Not reported in this filing: Not reported: the FY2024 Statement of Cash Flows (p18, text layer) prints no 'Movement in loans to group companies' investing line; it prints 'Movement in loans from group companies' (34,269) for 2023 under financing activities, a different line.
  6. “Acquisition of subsidiaries” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  7. Not reported in this filing: Not reported under this line: the FY2024 Statement of Cash Flows (p18, text layer) prints 'Acquisition of subsidiary' (125,000) for 2023, which is transcribed under native.co_t5atre25283d.acquisition_of_subsidiary; there is no 'Acquisition of subsidiaries' line. Not moved between concepts.
  8. “Increase in investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  9. Not reported in this filing: Not reported: the FY2024 Statement of Cash Flows (p18, text layer) prints no 'Increase in investment in subsidiaries' line; its investing lines are 'Purchase of property, plant and equipment', 'Acquisition of subsidiary' and 'Disposal of subsidiary'.
  10. “Disposal of subsidiary” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  11. “Movement in loans from group companies” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  12. “Movement in shareholder loans” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  13. “Dividends received” is an issuer-specific line, not mapped to a shared definition: Operating activities; 2024 printed '-'.
  14. Not reported in this filing: Not reported: the FY2025 Statement of Cash Flows (p17, text layer) prints no 'Dividends received' line in either column; its operating lines are 'Cash generated from (used in) operations', 'Interest income', 'Finance costs' and 'Tax paid'.
  15. Audited financial statements dated 2025-04-22 presents this line for this year: - (p18). Not shown in this column, which follows one filing's presentation.
  16. “Acquisition of subsidiary” is an issuer-specific line, not mapped to a shared definition: Investing activities; 2024 printed '-'.
  17. Not reported in this filing: Not reported under this line: the FY2025 Statement of Cash Flows (p17, text layer) prints 'Acquisition of subsidiaries' ((206) for 2025), which is the concept native.co_t5atre25283d.acquisition_of_subsidiaries; there is no 'Acquisition of subsidiary' line. Not moved between concepts.
  18. Not reported in this filing: Not reported under this line: the FY2025 Statement of Cash Flows (p17, text layer) prints 'Acquisition of subsidiaries' (- for 2024), which is the concept native.co_t5atre25283d.acquisition_of_subsidiaries; there is no 'Acquisition of subsidiary' line. Not moved between concepts.
  19. Not reported in this filing: Not reported: the FY2025 Statement of Cash Flows (p17, text layer) prints no 'Dividends paid' line in either column; its financing lines are 'Movement in loans from group companies' and 'Movement in shareholder loans'.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid (775,000) USD units Audited financial statements, p18

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Solid Oak Insurance PCC Limited Financial Statements for the year ended 31 December 2025

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: Moore MKM (Chartered Accountants), Seychelles, unmodified opinion · signed

    Auditor's sign-off: Moore MKM, Chartered Accountants (firm signature; no engagement partner named)

    Final status: Independent auditor's report signed 'Moore MKM, Chartered Accountants' (firm signature; no partner name printed) with the firm's Seychelles licence stamp and dated May 29, 2026, Mahé (PDF p8, page image); opinion on PDF p5. Statements approved by the directors on 29 May 2026 and signed (DocuSign) by AJF van Niekerk, EJ Tuohy, JN Ackermann and NJ Ackermann (PDF p4; signatures repeated on the statement of financial position, PDF p14).

    Document date
    29 May 2026
    Published
    7 Aug 2026
    Auditor's report
    29 May 2026
    Board approval
    29 May 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · USD units (printed “Figures in US Dollar”)
    • No earnings per share, no non-current-liabilities subtotal and no labelled asset, equity or current-liability subtotals are printed (the unlabelled subtotals are recorded with label notes). 'Share capital' (100,000) includes share premium of 99,000 (note 10).
    • Company statements under IFRS for SMEs. The issuer's subsidiaries (e.g. Solid Oak Insurance (Barbados) Limited) are carried at cost and not consolidated here; SECDEX posts a separate consolidated document.
    Technical details
    File
    28 pages, with a text layer
    SHA-256
    93ac44ae237056ca448965b53b9b04788f4766280fb48a95214f90d2a693416e
    Entity as printed
    Solid Oak Insurance PCC Limited (the Company)
    Exchange copy
    retrieved 2026-10-08T18:12:19Z

  • Solid Oak Insurance PCC Limited Financial Statements for the year ended 31 December 2024

    Year ended 31 December 2024 · Audited financial statements · signed / final

    Audit: Baker Tilly (Chartered Accountants), Seychelles, unmodified opinion · signed

    Auditor's sign-off: Baker Tilly, Chartered Accountants (handwritten firm signature and stamp; no engagement partner named)

    Final status: Independent auditor's report signed by hand for 'BAKER TILLY, Chartered Accountants' (no partner name printed) with the firm's round stamp (P.O. Box 285, Seychelles) and dated April 22, 2025, Mahé (PDF p8, page image); opinion on PDF p5 (page image). Statements approved by the directors on 22 April 2025 and signed (DocuSign) by AJF van Niekerk, EJ Tuohy, JN Ackermann and NJ Ackermann (PDF p4, page image).

    Document date
    22 Apr 2025
    Auditor's report
    22 Apr 2025
    Board approval
    22 Apr 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    company statements · USD units (printed “Figures in US Dollar”)
    • No earnings per share, no non-current-liabilities subtotal and no labelled asset, equity or current-liability subtotals are printed (the unlabelled subtotals are recorded with label notes). 'Share capital' (100,000) includes share premium of 99,000 (statement of changes in equity, p17).
    • Company (separate) statements only, under IFRS for SMEs: the directors' report says 'The company does not consolidate shares held in private equity investments as these are held purely as investments' (item 4, PDF p10); subsidiaries are carried as investments. For FY2025 SECDEX posts a separate consolidated document for the issuer; whether consolidated statements exist for FY2024 is not established from this document.
    Technical details
    File
    29 pages, with a text layer
    SHA-256
    73239107028a809667650ec5e9729a2f4c77b0f7a43a3294b7e926fccaabe2c6
    Entity as printed
    Solid Oak Insurance PCC Limited (the Company)
    Exchange copy
    retrieved 2026-10-08T18:12:21Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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