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Triple-S Management Corporation Reports 2008 Results at High End of Guidance Range
Date:2/19/2009

3.4% 4.3% Life Insurance 13.3% 9.3% 11.4% 10.3% Property and Casualty 20.6% 13.5% 12.3% 9.8% Consolidated 6.3% 6.6% 4.7% 5.4%

Managed Care Results Summary

Total medical premiums earned in 2008 were $1,513.0 million, up 16.2 percent versus 2007, primarily due to an increase in Medicare Advantage member months enrollment and a change in the product mix within this sector, coupled with rate increases across all businesses.

Medical premiums earned in the Medicare business rose $183.1 million, or 71.6 percent, to $438.7 million, reflecting an increase in member months enrollment of 300,892, or 54.3 percent, and a change in the product mix. The rise in member months is the net result of an increase of 310,762, or 74.6 percent, in Medicare Advantage membership and a decrease of 9,870, or 7.2 percent, in PDP membership.

Medical premiums earned in the Commercial business increased by $15.5 million, or 2.2 percent, to $734.2 million during 2008. This fluctuation is primarily the net result of an average four percent premium rate hike and a decrease in the fully-insured member months enrollment of 36,126, or 0.7 percent.

Medical premiums earned in the Reform business increased $12.6 million, or 3.8 percent, to $340.1 million during 2008. This fluctuation is largely due to the effect in the 2008 period of the nearly 10 percent premium rate increase that became effective on July 1, 2008 and a decrease in the fully- insured member months enrollment of 160,343, or 3.8 percent, when compared to the same period last year.

Administrative service fees climbed $5.2 million, or 30.5 percent, in 2008 due to increases in commercial groups and the Reform business of $2.5 million and $2.7 million, respectively. Total member months increased by 495,265, or 25.7 perce
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SOURCE Triple-S Management Corporation
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