344(1)An insurer incorporated and licensed under the laws of the Province may amalgamate its property and business with those of any other licensed insurer, or may transfer its contracts to or reinsure them with, or transfer its property and business or any part thereof to any other insurer, and such insurers may enter into all contracts and agreements necessary to such amalgamation, transfer or reinsurance upon compliance with the conditions of this Part.

344(2)Any insurer so incorporated and licensed may, in like manner, reinsure the contracts of any other insurer, or purchase and take over the business and property or any portion thereof of any other insurer.