Windsor, CT, August 22, 2006 — LIMRA International and Kenneth Kehrer Associates announced today that LIMRA has acquired Kehrer's research and consulting practice, a move that will strengthen the ability of both organizations to help clients in the bank brokerage and insurance sectors to improve sales performance.
The new acquisition will operate as a separate LIMRA subsidiary called Kehrer-LIMRA, with its own financial structure. All services will be delivered through Kehrer-LIMRA, which will continue to sell the benchmarking, research and consulting on bank sales of life insurance, annuities, investments, and wealth management services that have been the hallmark of Kenneth Kehrer Associates. Kehrer has set the standard in the field since founding the firm more than 20 years ago.
"Bringing Kehrer's business and reputation to LIMRA provides new opportunities to serve wide segments of the banking and financial community," said Bob Kerzner, president and CEO of LIMRA International. "Kehrer's expertise in the retail banking and brokerage industries is unsurpassed and will be a tremendous asset to LIMRA.
"This is a major step in making LIMRA the leading global organization for research and consulting in financial services marketing and distribution," Kerzner said.
Founded by the life insurance industry in 1916, LIMRA has been steadily expanding its membership into other financial sectors, including banking and brokerage. The purchase of Kehrer's business is the first time LIMRA has made an acquisition to expand its core capabilities. Terms of the agreement were not released.
Kenneth Kehrer, former president of Kenneth Kehrer Associates, will join LIMRA as a member of the Kehrer-LIMRA Board of Directors and remain as an ongoing consultant to Kehrer-LIMRA.
"We are pleased to join LIMRA," Kehrer said. "Its unparalleled reputation, vast resources, and immeasurable talent encompass the qualities that we were looking for to build on what we've done — to continue and expand the high-quality products that Kehrer Associates has established.
"Both our organizations share a common respect for ensuring the quality of the information provided to the industry and the importance of rigorous analysis," Kehrer added. "Partnering with LIMRA will be welcomed by the banking and financial industries. It just makes sense."
Established in 1985, Kenneth Kehrer Associates has provided benchmark and trend-analysis reports and consulting services to more than two thirds of the top 100 banking and financial institutions. The Kehrer Report is a leading source for timely information and analysis of trends in bank sales of insurance and retail investments. Since 1999, LIMRA and Kehrer have jointly published the annual Kehrer-LIMRA Bank Life Insurance Sales Study, the most comprehensive report of its kind.
"Globally, bank sales growth is strong and market potential is very large, especially among middle-income consumers with bank relationships," Kerzner said. "Bank distribution is a significant opportunity and Kehrer-LIMRA can make a major contribution to the growth of this sector."
About LIMRA International
LIMRA International is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA International at www.limra.com