American International Group Inc., one of the nation's largest insurers, is once again in dispute with its former chairman, Maurice "Hank'' Greenberg.

AIG announced that it is cancelling its "agency arrangement'' with the American International Marine Agency, a subsidiary of the Greenberg-controlled C.V. Starr & Co. Inc., effective December 31st 2006. AIMA specialises in ocean marine insurance, including cargo coverage.

AIG also said it was establishing a new division, to be called AIG Global Marine and Energy, to service the insurance, risk management and other needs of marine and energy insurance clients.

"We look forward to serving new underwriters next year and building upon our reputation for delivering best in class solutions,'' AIMA President David French said in a company statement.

Greenberg was forced out of AIG in March 2005 amid a widening regulatory investigation into AIG's accounting.