Enhancement of Baldwin annuities won approval.

A U.S. district court approved the so-called enhancement plan, which would guarantee benefits and raise the rate of return on annuities issued nationwide by insurance subsidiaries of Baldwin-United, which is in rehabilitation. As a result, an initial $16.2-million payment, funded by Metropolitan Life and 60 other insurers, will be paid to an escrow fund to benefit Baldwin-United policyholders. Approvals must still be obtained from Arkansas and Indiana rehabilitation courts, which have jurisdiction over Baldwin-United subsidiaries located and under rehabilitation within their states.