Exhibit 99.1

	Triple-S Management Corporation
	1441 F.D. Roosevelt Ave.
	San Juan, PR 00920
	www.triplesmanagement.com

FOR FURTHER INFORMATION:
AT THE COMPANY:	INVESTOR RELATIONS:
Juan José Román-Jiménez	Mr. Garrett Edson
EVP and Chief Financial Officer	ICR
(787) 749-4949	(787) 792-6488

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Net income of $23.6 million, or $1.02 per diluted share, versus net income of $13.9 million, or $0.58 per diluted share, in the prior-year period;

•

Adjusted net income of $14.2 million, or $0.61 per diluted share, a 17.4% increase versus adjusted net income of $12.1 million, or $0.51 per diluted share, in the prior-year period;

•

Operating revenues of $942.9 million, a 12.8% increase from the prior-year period, primarily reflecting higher Managed Care net premiums earned;

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Consolidated loss ratio of 82.5%, a 90 basis-point improvement from the third quarter of 2019, reflecting higher premium rates and lower utilization;

•

Medical loss ratio (“MLR”) of 84.7%, an improvement of 170 basis points over the same period last year;

•

Consolidated operating income of $22.3 million, a 17.4% increase compared to $19.0 million in the prior-year period;

•	Consolidated net premiums earned were $923.0 million, up 13.3% from the prior-year period, primarily reflecting higher Managed Care premiums.

•	Consolidated claims incurred were $761.8 million, up 12.0% year-over-year. Consolidated loss ratio was 82.5%, 90 basis points lower than the prior-year period, reflecting higher premium rates and lower utilization in the Company’s Managed Care segment.

•

Consolidated operating expenses of $158.8 million increased by $21.9 million, or 16.0%, from the prior-year period, primarily reflecting the reinstatement of the HIP fee in 2020 and expenses related to supplying much-needed assistance to our providers, communities and seniors to help them manage through the COVID-19 pandemic.  The consolidated operating expense ratio was 17.1%, a 40 basis-point increase from the prior-year quarter.

•	Managed Care premiums earned were $850.0 million, up 13.9% year-over-year.

o

Medicare premiums earned of $400.7 million increased 9.2% from the prior-year period, largely due to an increase of approximately 20,000 member months, which primarily reflects a more competitive product offering and higher premium rates due to an increase in the premium rate benchmark and membership risk score.  In addition, as utilization of services has trended to almost-normalized levels, the Company reduced the estimated MLR rebate accrual, which was originally recorded as a reduction of premiums.

o

Medicaid premiums earned of $240.9 million increased 36.6% from the prior-year period, primarily reflecting higher member months of approximately 67,000, higher average premium rates following three premium rate increases effective November 1, 2019, May 1, 2020 and July 1, 2020, and the reinstatement of the HIP Fee pass-through in 2020.

o

Commercial premiums earned of $208.4 million increased 2.6% from the prior-year period, mainly reflecting higher average premium rates, an increase of approximately 3,000 fully insured member months and the reinstatement of the HIP Fee pass-through in 2020.

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Reported MLR of 84.7% improved 170 basis points from the prior-year period, primarily reflecting higher average premium rates and the reinstatement of the HIP Fee in 2020, as well as lower utilization of services during the quarter as the result of the pandemic, offset in part by increased benefits in the Medicare product offering in 2020.

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Premiums earned of $50.1 million increased 9.4% from the prior-year period, resulting from new sales and the acquisition of a life insurance portfolio in the second quarter of 2020.

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Operating income was $5.7 million, compared with $6.6 million in the prior year period, primarily caused by a higher actuarial reserve due to the reinstatement of policies that were cancelled during the second quarter of 2020 due to the COVID-19 lockdown.

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Premiums earned of $23.9 million increased 0.8% from the prior-year period.

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Operating income was $4.4 million, compared with $6.6 million during the same quarter last year; this decrease was primarily caused by an increase in net commission expense.

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Updated information related to Hurricane María as of September 30, 2020:

o

The Company’s P&C subsidiary has paid a cumulative amount of $767 million in claims and expenses related to Hurricane María.  Estimated gross losses remain unchanged at $967 million.

o

TSP closed 75 claims during the third quarter of 2020, increasing the number of claims closed to 97.5%; 434 claims remain open.

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The Company has been served with process with respect to 322 of the 434 claims that remain open.

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Trends in health care costs and utilization rates

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Ability to secure sufficient premium rate increases

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Competitor pricing below market trends of increasing costs

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Re-estimates of policy and contract liabilities and reserves

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Changes in government laws and regulations of managed care, life insurance or property and casualty insurance

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Significant acquisitions or divestitures by major competitors

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Introduction and use of new prescription drugs and technologies

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A downgrade in the Company’s financial strength ratings

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Litigation or legislation targeted at managed care, life insurance or property and casualty insurance companies

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Ability to contract with providers consistent with past practice

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Ability to successfully implement the Company’s disease management, utilization management and Star ratings programs

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Ability to maintain Federal Employees, Medicare and Medicaid contracts

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Volatility in the securities markets and investment losses and defaults

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General economic downturns, major disasters, and epidemics

Condensed Consolidated Balance Sheets	Exhibit I
Condensed Consolidated Statements of Earnings	Exhibit II
Condensed Consolidated Statements of Cash Flows	Exhibit III
Segment Performance Supplemental Information	Exhibit IV
Reconciliation of Non-GAAP Financial Measures	Exhibit V

		September 30, 2020				December 31, 2019
Assets
Investments		$	1,874,331			$	1,643,637
Cash and cash equivalents			129,603				109,837
Premium and other receivables, net			546,959				567,692
Deferred policy acquisition costs and value of business acquired			243,663				234,885
Property and equipment, net			130,220				88,588
Other assets			195,511				174,187
Total assets		$	3,120,287			$	2,818,826
Liabilities and Stockholders' Equity
Policy liabilities and accruals		$	1,551,181			$	1,425,477
Accounts payable and accrued liabilities			423,083				370,483
Short-term borrowings			82,500				54,000
Long-term borrowings			53,836				25,694
Total liabilities			2,110,600				1,875,654
Stockholders’ equity:
Common stock			23,430				23,800
Other stockholders’ equity			986,970				920,065
Total Triple-S Management Corporation stockholders’ equity			1,010,400				943,865
Non-controlling interest in consolidated subsidiary			(713	)			(693	)
Total stockholders’ equity			1,009,687				943,172
Total liabilities and stockholders’ equity		$	3,120,287			$	2,818,826

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2020				2019				2020				2019
Revenues:
Premiums earned, net		$	922,934			$	815,021			$	2,657,366			$	2,442,516
Administrative service fees			3,752				2,607				8,755				7,695
Net investment income			14,168				15,176				42,294				45,614
Other operating revenues			2,052				3,167				6,394				6,335
Total operating revenues			942,906				835,971				2,714,809				2,502,160
Net realized investment gains (losses)			507				1,087				(180	)			4,766
Net unrealized investment gains (losses) on equity investments			11,040				1,267				(17,428	)			24,259
Other income, net			1,811				485				6,217				3,359
Total revenues			956,264				838,810				2,703,418				2,534,544
Benefits and expenses:
Claims incurred			761,792				680,010				2,129,401				2,009,504
Operating expenses			158,809				136,882				499,669				403,629
Total operating costs			920,601				816,892				2,629,070				2,413,133
Interest expense			2,096				2,062				5,813				5,681
Total benefits and expenses			922,697				818,954				2,634,883				2,418,814
Income before taxes			33,567				19,856				68,535				115,730
Income tax expense			9,989				5,910				27,520				36,075
Net income			23,578				13,946				41,015				79,655
Net (loss) attributable to the non-controlling interest			(3	)			(2	)			(20	)			(10	)
Net income attributable to Triple-S Management Corporation		$	23,581			$	13,948			$	41,035			$	79,665
Earnings per share attributable to Triple-S Management Corporation:
Basic net income per share		$	1.02			$	0.59			$	1.77			$	3.44
Diluted net income per share		$	1.02			$	0.58			$	1.76			$	3.43
Weighted average of common shares			23,073,511				23,830,106				23,215,840				23,143,361
Diluted weighted average of common shares			23,193,980				23,893,807				23,318,069				23,217,298

		For the Nine Months Ended September 30,
		2020				2019
Net cash provided by (used in) operating activities		$	223,681			$	(3,455	)
Cash flows from investing activities:
Proceeds from investments sold or matured:
Securities available for sale:
Fixed maturities sold			94,557				365,383
Fixed maturities matured/called			37,450				19,017
Securities held to maturity - fixed maturities matured/called			1,079				1,378
Equity investments sold			80,152				126,134
Other invested assets sold			13,231				3,379
Acquisition of investments:
Securities available for sale - fixed maturities			(206,387	)			(397,956	)
Securities held to maturity - fixed maturities			(1,087	)			(748	)
Equity investments			(201,324	)			(88,945	)
Other invested assets			(25,442	)			(24,233	)
Increase in other investments			(3,924	)			(2,710	)
Net change in policy loans			240				(1,097	)
Net capital expenditures			(52,549	)			(14,746	)
Capital contribution on equity method investees			(7,083	)			-
Net cash used in investing activities			(271,087	)			(15,144	)
Cash flows from financing activities:
Change in outstanding checks in excess of bank balances			16,814				3,808
Net change in short-term borrowings			28,500				-
Proceeds of long-term borrowings			30,841				-
Repayments of long-term borrowings			(2,760	)			(2,425	)
Repurchase and retirement of common stock			(14,980	)			(1	)
Proceeds from policyholder deposits			21,586				15,060
Surrender of policyholder deposits			(12,829	)			(16,455	)
Net cash provided by (used in) financing activities			67,172				(13	)
Net increase (decrease) in cash and cash equivalents			19,766				(18,612	)
Cash and cash equivalents, beginning of period			109,837				117,544
Cash and cash equivalents, end of period		$	129,603			$	98,932

(Unaudited)		Three months ended September 30,												Nine months ended September 30,
(dollar amounts in millions)		2020				2019				Percentage Change				2020				2019				Percentage Change
Premiums earned, net:
Managed Care:
Commercial		$	208.4			$	203.1				2.6	%		$	605.3			$	602.4				0.5	%
Medicare			400.7				367.1				9.2	%			1,160.9				1,065.7				8.9	%
Medicaid			240.9				176.3				36.6	%			682.9				577.7				18.2	%
Total Managed Care			850.0				746.5				13.9	%			2,449.1				2,245.8				9.1	%
Life Insurance			50.1				45.8				9.4	%			144.9				135.1				7.3	%
Property and Casualty			23.9				23.7				0.8	%			66.9				64.9				3.1	%
Other			(1.0	)			(1.0	)			0.0	%			(3.5	)			(3.3	)			(6.1	%)
Consolidated premiums earned, net		$	923.0			$	815.0				13.3	%		$	2,657.4			$	2,442.5				8.8	%
Operating revenues: 1
Managed Care		$	858.2			$	755.8				13.5	%		$	2,473.7			$	2,273.7				8.8	%
Life Insurance			57.0				52.5				8.6	%			165.5				155.1				6.7	%
Property and Casualty			26.1				26.2				(0.4	%)			73.5				72.3				1.7	%
Other			1.6				1.4				14.3	%			2.1				1.0				110.0	%
Consolidated operating revenues		$	942.9			$	835.9				12.8	%		$	2,714.8			$	2,502.1				8.5	%
Operating income (loss): 2
Managed Care		$	13.0			$	5.4				140.7	%		$	56.5			$	56.8				(0.5	%)
Life Insurance			5.7				6.6				(13.6	%)			20.2				17.5				15.4	%
Property and Casualty			4.4				6.6				(33.3	%)			10.9				14.9				(26.8	%)
Other			(0.8	)			0.4				(300.0	%)			(1.9	)			(0.2	)			(850.0	%)
Consolidated operating income		$	22.3			$	19.0				17.4	%		$	85.7			$	89.0				(3.7	%)
Operating margin: 3
Managed Care			1.5	%			0.7	%			80	bp			2.3	%			2.5	%			-20	bp
Life Insurance			10.0	%			12.6	%			-260	bp			12.2	%			11.3	%			90	bp
Property and Casualty			16.9	%			25.2	%			-830	bp			14.8	%			20.6	%			-580	bp
Consolidated			2.4	%			2.3	%			10	bp			3.2	%			3.6	%			-40	bp
Depreciation and amortization expense		$	3.1			$	3.7				(16.2	%)		$	10.9			$	10.7				1.9	%

		Three months ended September 30,								Nine months ended September 30,
(Unaudited)		2020				2019				2020				2019
Member months enrollment:
Commercial:
Fully-insured			966,906				964,321				2,920,460				2,872,836
Self-insured			324,372				356,059				981,634				1,072,510
Total Commercial			1,291,278				1,320,380				3,902,094				3,945,346
Medicare Advantage			407,170				386,995				1,220,280				1,156,438
Medicaid			1,132,626				1,065,885				3,278,098				3,187,753
Total member months			2,831,074				2,773,260				8,400,472				8,289,537
Claim liabilities (in millions)										$	420.6			$	390.3
Days claim payable											57				56
Premium PMPM:
Managed Care		$	339.09			$	308.83			$	330.12			$	311.18
Commercial			215.53				210.61				207.26				209.69
Medicare Advantage			984.11				948.59				951.34				921.54
Medicaid			212.69				165.40				208.32				181.22
Medical loss ratio:			84.7	%			86.4	%			82.7	%			84.9	%
Commercial			81.9	%			84.7	%			76.1	%			82.8	%
Medicare Advantage			80.6	%			81.1	%			80.2	%			81.4	%
Medicaid			94.0	%			99.6	%			92.7	%			93.4	%
Adjusted medical loss ratio: 1			82.1	%			89.4	%			81.3	%			86.5	%
Commercial			78.3	%			88.5	%			74.9	%			85.1	%
Medicare Advantage			78.4	%			81.6	%			78.9	%			80.9	%
Medicaid			91.7	%			104.9	%			91.0	%			97.2	%
Operating expense ratio:
Consolidated			17.1	%			16.7	%			18.7	%			16.5	%
Managed Care			14.6	%			14.0	%			15.9	%			13.8	%

Managed Care Membership by Segment		As of September 30,
		2020				2019
Members:
Commercial:
Fully-insured			321,673				322,992
Self-insured			107,830				119,077
Total Commercial			429,503				442,069
Medicare Advantage			136,135				128,660
Medicaid			385,344				354,230
Total members			950,982				924,959

		Adjusted Net Income
(Unaudited)		Three months ended September 30,								Nine months ended September 30,
(dollar amounts in millions, except per share data)		2020				2019				2020				2019
Net income		$	23.6			$	13.9			$	41.0			$	79.7
Less adjustments, net of taxes:
Net realized investment gains (losses)			0.4				0.9				(0.1	)			3.8
Unrealized gains (losses) on equity investments			8.8				1.0				(13.9	)			19.4
Contingency accrual			-				-				(20.0	)			-
Private equity investment income (loss)			0.2				(0.1	)			2.4				1.0
Adjusted net income		$	14.2			$	12.1			$	72.6			$	55.6
Diluted adjusted net income per share		$	0.61			$	0.51			$	3.12			$	2.39

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