Section 215 ILCS 5/294.1 - [Section Scheduled to be Repealed 1/1/2027] Reinsurance(a) A domestic society may enter into reinsurance transactions only in accordance with Article XI of this Code.(b) A domestic society may reinsure the risks of another society in connection with a merger transaction with approval by the Director.Amended by P.A. 098-0814,§ 5, eff. 1/1/2015.