Triple-S Management Corporation Reports Third Quarter 2008 Results; Board Approves Share Repurchase Authorization of up to $...(rent company cash cash equivalents and i...),Health

Segment Performance

Triple-S Management operates in three segments: 1) Managed Care, 2) Life Insurance, and 3) Property and Casualty Insurance. Management evaluates performance based primarily on the operating revenues and operating income of each segment. Operating revenues include premiums earned, net administrative service fees and net investment income. Operating costs include claims incurred and operating expenses. The Company calculates operating income or loss as operating revenues minus operating expenses. Operating margin is defined as operating gain or loss divided by operating revenues.

Three months ended Sept. 30, Nine months ended Sept. 30,

(Unaudited)

(dollar amounts Percentage Percentage

in millions) 2008 2007 Change 2008 2007 Change

Operating

revenues:

Managed Care $399.0 340.4 17.2% $1,154.1 996.0 15.9%

Life Insurance 27.7 25.8 7.4% 80.7 78.2 3.2%

Property and

Casualty 25.8 26.1 (1.1%) 78.2 76.9 1.7%

Other (0.7) (1.4) (50.0%) (2.3) (5.1) (54.9%)

Total

operating

revenues $451.8 390.9 15.6% $1,310.7 1,146.0 14.4%

Operating income:

Managed Care $15.1 17.5 (14.3%) $34.4 39.4 (12.9%)

Life Insurance 3.0 2.6 15.4% 8.7 8.3 4.8%

Property and

Casualty 2.9 1.4 107.1% 7.3 6.4 14.1%

Other 1.6 1.4 14.3% 4.7 3.1 51.6%

Total

operating

income $22.6 22.9 (1.3%) $55.1 57.2 (3.7%)

Operating margin:

Managed Care
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