Richard Li is getting a little old for the nickname “Superboy”. But at 52, he has another chance to show he has the flair of his father, Li “Superman” Ka-shing, Hong Kong’s best-known entrepreneur. His vehicle is FWD, an Asian insurance consolidator backed by Swiss Re. Deals to buy businesses in Thailand and Hong Kong look shrewder than a misfiring push into tech businesses more than a decade ago.

FWD has bought the Hong Kong operations of MetLife of the US cheaply. Analysts believe the deal was priced below the company’s present (embedded) value of $400m. A $3bn swoop on the life insurance unit of Siam Commercial Bank looks pricier. Rapid Thai premium growth is one justification. Greater scale is another. That would help FWD with a mooted float.

Since inception in 2013, FWD has stressed that it will focus on Thailand, Japan and Hong Kong. The SCB Life deal adds an important piece to the jigsaw.