John McFarlane has confirmed that discussions over the sale of the firm's US life and annuities business are on-going.
McFarlane added in an interim management statement outlining the insurer's latest financial results that eight smaller disposals are now likely to happen next year with limited impact on the IFRS book value.
Executives were appointed during the third quarter to produce a plan for the turnaround of Aviva's 27 ‘amber' business cells, McFarlane said.
Action being taken on these business units ranges from "revenue enhancement, cost or loss reduction, capital withdrawal, or leveraging technology or the online space", and a fuller update is expected in the full year results.
McFarlane added that Aviva's "pace of change" is improving as a result of measures to overcome the company's "unwieldy centre and support infrastructure, with more bureaucracy than desirable".
