Progressive completed the acquisition of Protective Insurance for $338m.

Progressive, a provider of insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, completed the acquisition of Protective Insurance, the publicly-traded holding company for several property-casualty insurance subsidiaries, for $338m. The acquisition is expected to close prior to the end of the third quarter of 2021, subject to customary closing conditions, including receipt of certain required regulatory approvals and approval of Protective’s Class A shareholders. “With Progressive’s scale and resources, we expect to deliver greater value to our policyholders, while continuing to provide the exceptional service they have come to expect from us. Progressive shares our commitment to excellence in serving customers, and we are confident they are the ideal owner for Protective. Together, we will be able to deliver innovative offerings and superior customer service to even more customers across the country,” Jeremy Johnson, Protective Chief Executive Officer.