Section 21.09.060 - Combinations of insuring powers in one insurerAn insurer that otherwise qualifies may be authorized to transact any one kind or combination of kinds of insurance as defined in AS 21.12, except that
(1) a life insurer may also grant annuities, but is not authorized to transact any other kind of insurance than health; except that if the insurer is otherwise qualified, the director shall continue to authorize a life insurer that, immediately before July 1, 1966, was lawfully authorized to transact in this state a kind or kinds of insurance in addition to life and health;(2) a reciprocal insurer may not transact life insurance;(3) a title insurer must be a stock insurer;(4) a property or casualty insurer may not transact life insurance and may not grant annuities.