March 21 (Reuters) - Progressive Corp (NYSE:PGR) PGR.N -
* Progressive Direct Insurance Company enters into agreement to sell Australian operations to Hollard Insurance Company
* Agreements also provide for PD Insurance Agency Pty Ltd, a new company created and partly owned by Hollard
* Parties expect transfer will be effective in Q4 of 2017
* Says Hollard will acquire progressive's portfolio of insurance policies in Australia Source text for Eikon: ID:nPn90MxVta Further company coverage: PGR.N