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OLDWICK - FEBRUARY 16, 2021 06:05 PM (EST) AM Best has commented that the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of aa for members of The Progressive Corporation (Progressive) (Mayfield Village, OH), along with the Long-Term ICR of a for Progressive, the parent holding company, and all Long-Term Issue Credit Ratings (Long-Term IR) on Progressive s senior and preferred stock issuances remain unchanged following the company s Feb. 16, 2021, announcement that it has entered into a definitive agreement to acquire Protective Insurance Corporation (Protective), with a total transaction value of approximately $338 million. The acquisition includes all outstanding Class A and Class B common shares of Protective and is expected to close prior to the end of the third quarter of 2021. The outlook of these Credit Ratings (ratings) is stable.

Jim peavyChristopher draghiMichelle baurkotChristopher sharkeyProgressive corpProgressive corporation mayfield villageInsurance corporationFinancial strength ratingLong term issuer credit ratingsProgressive corporationMayfield villageLong term issue credit ratingsProtective insurance corporationAm best company via public comments on credit ratings of the progressive corp and members following protective insurance acquisition announcementஜிம் பெவிகிறிஸ்டோபர் சுறா