Jordanian insurance companies, a comprehensive analysis with multi-criteria decision making process

The purpose of this empirical analysis is to identify the top currently performing company/s in the Jordanian insurance market using most recent publicly available financial statements, period covering January 2018 through December 2020, three annual audited financial statements for all insurance companies (the whole sector) were analyzed. The study uniquely focuses on utilizing multiple methods of analysis in order to achieve best results, and eliminate possible non compatibility of data with the available scientific methods, three Multi-Criteria Decision Making (MCDM) methods were conducted; the full Multi-Objective Optimization on the basis of Ratio Analysis (MOORA) multiplication, Evaluation Based on Distance from Average Solution (EDAS), and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). Additionally, the Criteria Importance Through Inter-Criteria Correlation (CRITIC) was conducted in order to identify the criteria weights in the analysis. Findings based on the previously identified methods showed consistent results, identifying the top and worst performing companies in the sector. Arab Orient Insurance Co ranked top all years. Keywords: Best Performing, CRITIC, EDAS, Jordanian Insurance Sector, MCDM Analysis, Multi-MOORA, TOPSIS