CHARLOTTE, North Carolina_American International Group's CEO Ed Liddy is planning to tell Congress his embattled insurance company does not need more bailout money.

In testimony he is scheduled to deliver to Congress on Wednesday, Liddy says the New York-based firm "reduced, but not yet eliminated, the systemic risk that AIG presents to the global financial system."

In prepared remarks to the House Committee on Oversight and Reform, Liddy says the company is stabilizing so that it won't need further government support. But he cautioned that the condition of the economy would be a factor in the company's finances.

AIG has received $182.5 billion in financial support from the government since September.