Global mutual insurance development experiences the development courses such as mutual-reverse mutual-mutual rejuvenation, practice shows that mutual insurance has necessity and sustainability, further, in the countries and the states where insurance industry development lags behind, mutual insurance development has significant later-comer advantage. Although mutual insurance has itself relative advantage, its development demands the corresponding economic basis and furthermore demands suitable institutional environment condition. China’s good mutual culture gene, social risk management experience, perfecting laws and regulations as well as nearly 40 years mutual insurance development practice provide suitable cultural soil and institutional condition for mutual insurance development. Although China’s insurance industry development stays at initial period, and although China’s mutual insurance development lags behind, the ideas and practice of mutual insurance in agriculture and fishery have been the effective way for the people to share the risk. Mutual insurance has strong applicability and feasibility, China should actively cultivate insurance culture and boost insurance culture consciousness, promote the specific legislation for mutual insurance, and emphasize practical basis and experience accumulation so as to optimize the institutional environment for developing mutual insurance.