Is Zhongyuan Insurance Company formal?

Zhongyuan insurance company is formal. Zhongyuan Insurance Brokerage Co., Ltd. is a national and comprehensive insurance brokerage institution (property insurance, life insurance and reinsurance brokerage) initiated by China PICC Group Company, Taiping Life Insurance Co., Ltd., Haihao Development Co., Ltd. (Hong Kong) and Shanghai Liangyou (Group) Co., Ltd., and approved by China Insurance Regulatory Commission. The company was formally established on June 28th, 2005 with a registered capital of 20 million yuan.