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Triple-S Management Corporation Reports Third Quarter 2008 Results; Board Approves Share Repurchase Authorization of up to $40 Million
Date:10/30/2008

(1,308) 1,842

Total revenues 1,296,315 1,153,286

Benefits and expenses:

Claims incurred 1,070,572 915,374

Operating expenses 185,002 173,439

Total operating costs 1,255,574 1,088,813

Interest expense 11,348 11,948

Total benefits and expenses 1,266,922 1,100,761

Income before taxes 29,393 52,525

Income tax expense 6,583 11,725

Net income $22,810 $40,800

Basic net income per share $0.71 $1.53

Diluted earnings per share $0.71 $1.53

Condensed Consolidated Statements of Earnings

(Dollar amounts in thousands, except per share data)

For the Three Months Ended

September 30,

Unaudited Historical

2008 2007

Revenues:

Premiums earned, net $433,219 $375,803

Administrative service fees 4,448 3,908

Net investment income 14,072 11,229

Total operating revenues 451,739 390,940

Net realized investment gains (losses) (1,101) 1,183

Net unrealized investment loss on trading

securities (3,605) 588

Other income, net (1,147)
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SOURCE Triple-S Management Corporation
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