HK tycoon Richard Li's FWD turns profitable ahead of IPO in US

HK tycoon Richard Li's FWD turns profitable ahead of IPO in US

FILE PHOTO: Richard Li, Hong Kong businessman and younger son of tycoon Li Ka-shing, waves as he arrives to vote during the election for Hong Kong's next Chief Executive in Hong Kong, China March 26, 2017. REUTERS/Bobby Yip

Billionaire Richard Li controlled FWD Group Holdings Ltd swung to a profit in the first nine months of this year, the Hong Kong-based insurer disclosed in an amended filing for an initial public offering in the United States.

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