AVIVA's operations in Perth and Glasgow have emerged relatively unscathed from a strategic review that will see Scot David McMillan lead a transformation of the insurance giant.

Aviva said it will sell or close 16 underperforming businesses as part of a shake-up aimed at re-inforcing its finances and reinvigorating its flagging share price.

The move comes only weeks after the departure of chief executive Andrew Moss following a shareholder rebellion over his pay package and the company's stock market performance.

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