Is Huanong Insurance Company formal?

Huanong Insurance Company is a regular insurance company. With the approval of China Insurance Regulatory Commission, it was formally registered as a national comprehensive property insurance company in June 2006, with a registered capital of 1 100 million yuan and its headquarters in Guangdong. The shareholders of the company include the powerful private enterprise Winbond Holding Group and the state-owned modern large-scale central enterprise Zhongmou Group. The corporate governance structure of the company is perfect, and the supervision score ranks in the top 20% among nearly 2,000 participating institutions, and it has been rated as the highest A-level management evaluation of corporate institutions of insurance companies for two consecutive years. The business scope of Huanong Insurance includes property loss insurance, liability insurance, agricultural insurance, credit insurance, short-term health insurance, accidental injury insurance and reinsurance business of the above businesses. The company insists on attaching importance to intelligence over assets, creating a differentiated high-quality development model, constantly improving business layout, constantly improving customer management, achieving new breakthroughs in business performance and achieving sustained high-quality development of advantages and benefits. To sum up, Huanong Insurance is an insurance company established through formal procedures, which has certain influence and performance in the industry.