Aviva will on Thursday announce a substantial restructuring of its European operations after a thorough review of the insurer’s 12 continental businesses by Andrea Moneta, who became chief executive of the division just over a year ago.

Mr Moneta wants to turn the group of companies that Aviva owns into a single, pan-European business that he claims would be the largest bancassurance group on the continent, he told the Financial Times in his first interview.