In addition to other aspects of insurance operations to which provisions of this title by their terms apply, “transact” with respect to a business of insurance includes any of the following:

1. (1) Solicitation or inducement;
2. (2) Negotiations;
3. (3) Effectuation of a contract of insurance;
4. (4) Transaction of matters subsequent to effectuation and arising out of such a contract.

18 Del. C. 1953, § 103; 56 Del. Laws, c. 380, § 1