Y4028 - US Federal Excise Tax on Outwards Reinsurance

For Managing Agents1. to note a change to Lloyd’s Outwards Reinsurance Scheme and to drawtheir attention to a need to review the data input in order to avoidoverpaying US Federal Excise Tax.2. to remind them of the need to enter a ‘P’ indicator to indicate that thepremium is to be ‘paid this time’.