What Q1 Told Us About Our Insurance Companies

Breaking down Q1 2026 for the two insurance companies in the Aurelion Index.

Shelby Davis started investing at 38 with $50,000 and turned it into $900M by the time he passed away at 88, primarily by investing in insurance companies.

His view was simple: insurance companies collect cash upfront and pay claims later, creating powerful long-term compounding when managed properly.

In his own words: "The best investment you can make is in insurance companies. They take in money before they pay it out." We share that view, which is why insurance remains a core focus of our financial coverage.

Financial companies are not always the easiest businesses to analyze. The accounting can be complex, the numbers move around for reasons that have nothing to do with the underlying health of the business, and it is easy to draw the wrong conclusions from a headline number. That is exactly why we go through the earnings reports, the calls, and the filings, so we can separate what actually happened from what the numbers appear to show.

Both companies in the space that we hold in the Aurelion Index recently reported Q1 2026 earnings.

In this report, we go through both quarters in detail, why we hold them, what management said, and our view on what it tells us about each business.

You will also find our full portfolio and current weights at the end, which you can always access here as a paid subscriber.