This years list-topper is the same company that topped last years list from the National Association of Insurance Commissioners.

Lloyds of London reported a 30% drop of full-year profit as the worlds largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001.

The other three semi-finals for insurance-innovation startups will be held in New York City, London and Des Moines, Iowa.

For the first time since the 1970s, the industry has shown three consecutive years of underwriting profit.