LIMRA International has acquired Kenneth Kehrer Associates, a research and consulting firm serving the bank brokerage and insurance sector.

The move will strengthen the ability of both organizations to help banks improve the performance of their brokerage and insurance business, according to a joint announcement by LIMRA and Kehrer.

The acquisition will operate in LIMRA’s Windsor, Conn., headquarters as a separate unit called Kehrer-LIMRA, with its own financial structure. Kehrer-LIMRA will continue to sell the benchmarking, research and consulting services on bank sales of life insurance, annuities, investments and wealth management that Kenneth Kehrer Associates has delivered for more than 20 years, according to the announcement.

The purchase of Kehrer is the first time LIMRA has made an acquisition to expand its capabilities. It did not disclose the terms of the agreement.

Kenneth Kehrer, who had been president of Kenneth Kehrer Associates in Princeton, N.J., will become a member of the Kehrer-LIMRA board of directors and stay on as a consultant to the organization.

“Kehrer’s expertise in the retail banking and brokerage industries is unsurpassed and will be a tremendous asset to LIMRA,” said Bob Kerzner, president and CEO of LIMRA.