Allianz has signalled it is open to outside investment as speculation mounts that the German financial services group could be preparing to sell its banking arm, Dresdner.

In an interview with German newspaper Welt am Sonntag, Michael Diekmann, chief executive of Allianz, reportedly said the company would be open to investment by foreign companies or individuals, including Russian and Chinese private-sector investors. His comment was taken from a conversation with Sistema chairman Vladimir Evtushenkov.