Conn. Gen. Stat. § 38a-146: (Formerly Sec. 38-37). Domestic insurance company may acquire stock of other companies.

Any domestic insurance company may retain or acquire the whole or any part of the stock or other share capital of other insurance corporations, provided no insurance corporation shall, by reason of such retention or acquisition of stock or other share capital, conduct its business with the public in a manner which substantially lessens competition or tends to create a monopoly.