Germany's Allianz SE (ALV.XE) wants former executive board member Helmut Perlet to become chairman of the supervisory board and is preparing for a listing on the Shanghai stock exchange, according to the agenda of the insurer's annual general meeting seen by Dow Jones Newswires.

If Perlet is voted a member of the supervisory board at the shareholders' meeting scheduled for May 9, Allianz wants to propose him as chairman of the supervisory board. Perlet was management board member for accounting and control until September 2009.

The supervisory board's current chairman, Henning Schulte-Noelle, is due to retire from his position.

Allianz is also mulling using a capital increase previously approved by shareholders for a listing in Shanghai.

According to a report in daily Handelsblatt, Allianz Chief Executive Michael Diekmann said in November the prerequisite for an initial public offering in Shanghai isn't only that the exchange opens itself to foreign issuers, as has been announced, but that the generated proceeds be allowed to be used outside China.

China is currently revising the country's capital controls but it is yet unclear if the new rules meet Diekmann's demands.

-By Joern Rehren, Dow Jones Newswires; +49 69 29725 115, joern.rehren@dowjones.com