<p>Hong Kong tycoon Richard Li's insurer FWD said it has lodged an application to regulators for an initial public offering in the United States.</p>.<p>The company did not reveal the size of the IPO but the deal could raise between $2 to $3 billion, people familiar with the matter said.</p>.<p>A raising of that size would value FWD at $13 billion to $15 billion, they added.</p>.<p>FWD declined to comment on the potential raising size.</p>.<p>The number of American Depositary Shares (ADS) or a price range has yet to be determined, a statement from the company said.</p>.<p>"The IPO is expected to take place after the SEC completes its review process, subject to market conditions," it added.</p>.<p>The IPO filing comes under FWD holding company PCGI Intermediate.</p>.<p>Richard Li is the son of Hong Kong's richest man Li Ka-Shing.</p>.<p>FWD was established in 2013 and is the insurance business of Li's investment arm Pacific Century Group.</p>.<p>FWD has businesses across 10 Asian countries led by Hong Kong, Indonesia, Japan and Macau, according to its website.</p>.<p>The company has $62.6 billion in assets and 9.8 million customers, a factsheet on its website states which also says FWD's minor shareholders include Swiss Re, GIC Ventures, RBJ Capital and Hopu Investments.</p>
<p>Hong Kong tycoon Richard Li's insurer FWD said it has lodged an application to regulators for an initial public offering in the United States.</p>.<p>The company did not reveal the size of the IPO but the deal could raise between $2 to $3 billion, people familiar with the matter said.</p>.<p>A raising of that size would value FWD at $13 billion to $15 billion, they added.</p>.<p>FWD declined to comment on the potential raising size.</p>.<p>The number of American Depositary Shares (ADS) or a price range has yet to be determined, a statement from the company said.</p>.<p>"The IPO is expected to take place after the SEC completes its review process, subject to market conditions," it added.</p>.<p>The IPO filing comes under FWD holding company PCGI Intermediate.</p>.<p>Richard Li is the son of Hong Kong's richest man Li Ka-Shing.</p>.<p>FWD was established in 2013 and is the insurance business of Li's investment arm Pacific Century Group.</p>.<p>FWD has businesses across 10 Asian countries led by Hong Kong, Indonesia, Japan and Macau, according to its website.</p>.<p>The company has $62.6 billion in assets and 9.8 million customers, a factsheet on its website states which also says FWD's minor shareholders include Swiss Re, GIC Ventures, RBJ Capital and Hopu Investments.</p>