No person shall enter into an agreement to merge with or otherwise acquire control of a domestic insurer unless the offer, request, invitation, agreement or acquisition has been approved by the commissioner. For purposes of this section a domestic insurer includes any person controlling a domestic insurer unless the person, as determined by the commissioner, is either directly or through its affiliates primarily engaged in business other than the business of insurance. The commissioner shall approve any merger or other acquisition of control unless after a public hearing he finds, among many things, the effect of the merger or other acquisition of control would substantially lessen competition in insurance in Wyoming or tend to create a monopoly in Wyoming. The provisions of this section do not apply to any transaction which is subject to the provisions of W.S. 26-24-146 through 26-24-149 or any offer, request, invitation, agreement or acquisition which the commissioner by order shall exempt as not having been made or entered into for the purpose and not having the effect of changing or influencing the control of a domestic insurer.