An insurer otherwise qualified may be authorized to transact combinations of kinds of insurance, other than the life and disability combination shown in section 20-210, while possessing and maintaining thereafter additional minimum required capital stock, if a stock insurer, or additional minimum required basic surplus, if a mutual or reciprocal insurer, not less in amount than that determined as follows: For any lawful combination add two hundred thousand dollars for each additional kind of insurance included in the combination to the amount required under section 20-210 for that one kind of insurance in the combination for which the largest amount is required under said section 20- 210, except:

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1. Vehicle and disability insurances may be combined with casualty, and in any combination including casualty, without funds in addition to those required because of casualty.

2. With such additional minimum required capital stock or such additional minimum required basic surplus in an amount of not less than five hundred thousand dollars, an insurer, if otherwise qualified, may be authorized to transact all kinds of insurance except life and title insurance. Any domestic stock insurer which on January 1, 1954, was lawfully authorized to transact vehicle insurance, for physical damage only, or casualty insurance, and while possessing paid-in capital of not less than two hundred fifty thousand dollars, may be so authorized to transact all kinds of insurance other than life and title insurances.

3. The amount of such capital or surplus shall not in any event be less than would be required if the insurer proposed to transact in this state all those kinds of insurance which it is transacting elsewhere.