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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

(525)

Total revenues 445,886 392,186

Benefits and expenses:

Claims incurred 365,585 310,033

Operating expenses 63,572 57,944

Total operating costs 429,157 367,977

Interest expense 3,749 3,938

Total benefits and expenses 432,906 371,915

Income before taxes 12,980 20,271

Income tax expense 3,509 4,781

Net income $9,471 $15,490

Basic net income per share $0.29 $0.58

Diluted earnings per share $0.29 $0.58

Condensed Consolidated Statements of Cash Flows

(Dollar amounts in thousands, except per share data)

For the Nine Months Ended

September 30,

Unaudited Historical

2008 2007

Net cash (used in) provided by

operating activities $(19,894) $51,490

Cash flows from investing activities:

Proceeds from investments sold or matured:

Securities available for sale:

Fixed maturities sold 162,802 101,828

Fixed maturities matured 65,088 25,733

Equity securities 4,449 1,000

Securities held to maturity:

Fixed maturities matured 20,107 7,172

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SOURCE Triple-S Management Corporation
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