Allianz Weighs Options for AllianzGI

German insurer Allianz is exploring strategic options for its asset management arm Allianz Global Investors (AllianzGI), including a potential sale or partnership, according to people familiar with the matter.

The move comes as Allianz seeks to streamline its operations and focus on its core insurance business. AllianzGI, which has €591 billion ($652 billion) in assets under management, is one of the world's largest asset managers.

Allianz has held preliminary talks with several potential partners, including private equity firms and other asset managers, the people said. No deal is imminent, and Allianz could still decide to keep AllianzGI.

Allianz declined to comment.