The break-up of American International Group and C.V. Starr & Co. Inc. heated up a notch with the announcement Friday that AIG has terminated the long-standing relationship between the two parties.

Richard Shaak, president and chief executive officer of Starr Technical Risks Agency Inc., immediately issued a statement asserting the action put AIG in breach of contract.

"Starr Tech intends to assert its contractual rights and is operating at full capacity," Mr. Shaak said.

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