May 13 (Bloomberg) -- American International Group Inc., the insurer bailed out by the U.S., expects to repay the government in three to five years, Chief Executive Officer Edward Liddy told a Congressional panel today.

That timetable is based on financial markets remaining stable or improving, Liddy said at a hearing in Washington. The New York-based insurer may need more time if markets worsen, he said.

To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net

Last Updated: May 13, 2009 10:58 EDT