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Aviva will decide the fate of businesses in 18 non-core countries over the next year, said Andrew Moss, chief executive, who declined to say if any specific unit would be sold.

The UK-listed life and general insurance group revealed its strategic overhaul last November, saying it would focus on 12 core markets out of its current 30, choosing those that met certain scale or profitability requirements.

However, Mr Moss said on Thursday that some of the smaller non-core markets could yet be promoted.

“We say we are de-emphasising our presence in those 18 countries and you can expect some announcements on that over the next 6-12 months,” he said. “But one or two of those might come into our core list.”