李嘉诚儿子李泽楷创办的富卫保险通过上市聆讯：控制67%投票权

Core Viewpoint - FWD Group Limited (referred to as "FWD Insurance") is preparing for an IPO on the Hong Kong Stock Exchange after passing its listing hearing in a notably short time frame of one month since submitting its prospectus on May 20, 2025 [2][3]. Financial Performance - For the three months ending March 31, 2025, FWD Insurance reported significant growth in new business metrics, with new business margin, annualized new premiums, and new business value increasing by 54.5%, 45.9%, and 31.9% respectively, driven by both domestic and overseas sales in Hong Kong [3]. - From December 31, 2024, to March 31, 2025, the contract service margin, total tangible equity, and intrinsic value increased by 7.3%, 4.9%, and 6.5% respectively [4]. - FWD Insurance's net insurance and investment performance for 2024 was $911 million, a significant increase from $47 million in 2023 and a recovery from a loss of $320 million in 2022 [5][6]. Investment Returns - The investment returns for FWD Insurance showed a positive trend, with returns of $12.62 million in 2024 compared to $3.59 million in 2023 and a loss of $17 million in 2022 [5][6]. - The net investment income for the years 2022, 2023, and 2024 was reported as $48 million, -$632 million, and $241 million respectively, indicating a recovery in investment performance [6]. Cash Position - As of December 31, 2024, FWD Insurance held cash and cash equivalents amounting to $1.687 billion, reflecting a strong liquidity position [7]. Ownership Structure - Li Ka-shing's son, Li Zeqiang, controls 66.7% of the voting rights in FWD Insurance, with major shareholders including PCGI Holdings, Spring Achiever Limited, Spring Achiever HK, and Hillhouse Capital [8][13][14].