An insurer which otherwise qualifies therefor may be authorized to transact any one or more classes of insurance as defined in §§ 431:1-204 to 431:1-211; provided that:

(1) A life insurer shall not transact any insurance in addition to life insurance except accident and health or sickness insurance; provided that nothing herein shall limit a life insurer existing and authorized on July 1, 1988, from writing any authorized insurance stated in its charter; and
(2) A reciprocal insurer shall not transact life or accident and health or sickness insurance.

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