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Open Annuities wins £10m case

Gibraltar-based annuity provider Open Annuities has seen its busiest month ever during May and attracted a £10m case – the largest in the company&#39s history.

The Open Annuities product allows wealthy individuals to pass their pension funds, less inheritance tax, to their estates on death after age 75.

Open Annuities chief executive Ken Wrench says: “The reporting requirements in Gibraltar are stricter than investment managers in the UK are used to.”

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