Y3863 - Spanish premium tax - temporary reduced rate

On 19th July 2006, the Spanish Government introduced a temporary 75% IPT reduction inrelation to certain contracts of insurance. This applies to insurance covering risks related tothe public transport of passengers and goods, i.e. passengers' personal accident, third partymaterial damage, third party liability, damage to own property and other types oftransporters’ liability. 25 August 2006