During the period of 1995, some newly established insurance companies in China, such as Huaan, Taikang and Xinhua, signed agency agreements with banks in an attempt to jointly explore the market. The development of China's bank insurance business has taken the first step. After 1997, the upsurge of "bank-insurance cooperation" began to appear in China. Commercial banks have signed insurance agency agreements with insurance companies, and five domestic insurance companies have established business cooperation relations with dozens of banks including four state-owned banks. After just a few years of development, the scope of domestic bank-insurance cooperation has gradually expanded from simply collecting insurance premiums and selling insurance business as an agent to paying insurance premiums, financing business, policy pledge loans, customer information sharing and personal finance. The cooperation between banks and insurance companies has been developing and deepening, which has become one of the mainstream trends in the financial and insurance industry. However, in the process of rapid development, various contradictions and problems have followed.