actuarial reserves

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica Advisory Services Audit and Assurance Audit and Assurance Services Audit firm Financial Strategy

Life Assurance under IFRS 17 — A New Tax Narrative for Policyholder Protection

July 7, 2025by Dr Dawkins Brown

Life assurance companies operate under long-term, complex contractual obligations that require precise actuarial forecasts and careful financial planning. With the introduction of IFRS 17, the landscape for life insurers in Jamaica has fundamentally changed—impacting not just how revenue and profits are recognized, but also how tax liabilities are calculated and reported. To support a smooth...

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The TAJ’s Transitional Tax Regime — Managing the IFRS 17 Impact Over Ten Years

July 4, 2025by Dr Dawkins Brown

The adoption of IFRS 17 Insurance Contracts has brought sweeping changes to how insurers measure and recognize revenue. While these changes improve transparency and comparability in financial reporting, they also introduce volatility in taxable income—especially in the year of transition. Recognizing this, Tax Administration Jamaica (TAJ) issued a Technical Advisory (#022924/01/IT) outlining a 10-year transitional...

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica accounting firm Audit and Assurance Audit and Assurance Services Audit firm

The Contractual Service Margin (CSM) Decoded — Profit Recognition under IFRS 17

July 4, 2025by Dr Dawkins Brown

At the heart of the IFRS 17 Insurance Contracts standard lies the Contractual Service Margin (CSM) — a powerful concept that fundamentally changes how insurers recognize revenue and profit. In contrast to traditional models that front-loaded income upon premium receipt, IFRS 17 mandates a systematic deferral and gradual recognition of profits over the life of...

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica Advisory Services

IFRS 17 in Jamaica: Reimagining Insurance Accounting through a Tax Lens

July 4, 2025by Dr Dawkins Brown

The implementation of IFRS 17 Insurance Contracts, effective January 1, 2023, marks a watershed moment for the insurance industry in Jamaica. Developed by the International Accounting Standards Board (IASB), IFRS 17 introduces a consistent framework for recognizing, measuring, presenting, and disclosing insurance contracts. However, its adoption carries significant tax implications, prompting Tax Administration Jamaica (TAJ)...

Life Assurance under IFRS 17 — A New Tax Narrative for Policyholder Protection

The TAJ’s Transitional Tax Regime — Managing the IFRS 17 Impact Over Ten Years

The Contractual Service Margin (CSM) Decoded — Profit Recognition under IFRS 17

IFRS 17 in Jamaica: Reimagining Insurance Accounting through a Tax Lens

March 6, 2026Regulatory Expectations: What Caribbean Financial Regulators Now Demand from Auditors and Audit Committees

March 6, 2026Assurance Beyond Financial Statements: ESG, Cybersecurity, and Non-Financial Reporting

March 6, 2026Technology-Enabled Audit: How Data Analytics, AI, and Automation Are Transforming Assurance

March 5, 2026Audit Committee Effectiveness: The Board’s Most Important Committee Is Often Its Weakest

March 5, 2026From Compliance to Strategy: A Caribbean CFO’s Blueprint for Building a Tax-Ready Organisation

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Where to find us?

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