Nov 16 (Reuters) - 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 here for an initial public offering in the United States. The company reported net profit applicable to shareholders of $131 million for the nine months ended Sept. 30, compared to a loss of $306 million in the year-ago period. It said revenue jumped nearly 38% to $8.69 billion. FWD has not yet set the terms for its IPO, but Reuters in June reported it could raise between $2 billion and $3 billion, valuing the company at around $13 billion to $15 billion. The company has faced questions from the U.S. Securities and Exchange Commission about its ties to mainland China and has been treated by authorities as a Chinese business rather than a Hong Kong entity, Reuters reported earlier this month. (Reporting by Niket Nishant in Bengaluru; Editing by Amy Caren Daniel)