Update: China’s United MetLife Cleared for Sichuan Branch

(Corrects an earlier version that incorrectly stated MetLife is looking to set up another headquarters in China. The comment attributed to James M. Ortenzio came from a report MetLife is not familiar with. Ortenzio is a sales representative.)The comment attributed to him United MetLife Insurance Co. Ltd. has won regulatory approval to set up a new branch in Chengdu, the capital of central China's Sichuan province, according to the China Insurance Regulatory Commission.Established in 2005 and headquartered in Shanghai, United MetLife is a 50-50 joint venture between U.S.-based Metropolitan Life Insurance Co. [06704] and China's Shanghai Alliance Investment Ltd., with registered capital of 500 million yuan (US$73 million).Currently, the insurer provides life and accident insurance and savings products to individuals in Shanghai, Nanjing, Hangzhou, Ningbo and Wuxi through tied agents, bank partners and direct marketing channels in China.MetLife has two joint ventures in China--Shanghai-based United MetLife and Sino-U.S. MetLife, headquartered in Beijing.(By Rebecca Ng, Hong Kong news editor: [email protected])