CHUBB CORP &lt;CB> COMPLETES ACQUISITION

  The Chubb Corp said it completed the
  previously-announced merger of its subsidiary with and into
  Sovereign Corp &lt;SOVR>, a life insurance holding company.
      Under the terms of the merger, Sovereign stockholders
  wil receive, in a tax free exchange, 0.1365 of a share of Chubb
  common stock for each share of Sovereign held, the company
  said. 
      This equals 9.11 dlrs per share of Sovereign stock based on
  the closing price of Chubb common stock on March 30.
  

