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Section 1: 8-K (FORM 8-K)











Date of report (Date of earliest event reported): July 30, 2019



(Exact Name of Registrant as Specified in Charter)


 Puerto Rico 001-33865 66-0555678
(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)


Registrant’s telephone number, including area code: 787-749-4949


1441 F.D. Roosevelt Avenue, San Juan, Puerto Rico 00920
(Address of Principal Executive Offices and Zip Code)


Not Applicable
(Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).


Emerging growth company


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.


Securities registered pursuant to Section 12(b) of the Act:


Title of each class 

Trading Symbol(s) 

Name of each exchange on
which registered 

Common Stock Class B, $1.00 par value GTS New York Stock Exchange (NYSE)


Item 7.01.Regulation FD Disclosure.


Triple-S Management Corporation (the “Company”) is furnishing a statement that it issued on July 30, 2019 to address local media reports concerning alleged improprieties by market participants and lobbying firms in the bidding process for the award of government health care plan contracts by ASES, the Puerto Rico Health Insurance Administrator.  A copy of the statement is attached as Exhibit 99.1 to this report.


The information in this Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, except as shall be expressly set forth by specific reference in such filing.


Item 9.01.Financial Statements and Exhibits.


(d) Exhibits:


 99.1 Statement of the Company, dated July 30, 2019.








Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: July 30, 2019 By:

/s/ Roberto García Rodríguez  

    Name: Roberto García Rodríguez
    Title: President and CEO








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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit 99.1


Statement of Triple-S Management Corporation concerning recent news reports regarding ASES and the Vital Health Insurance Plan


SAN JUAN, PUERTO RICO—JULY 30, 2019—Today, a spokesperson for Triple-S Management Corporation (“Triple-S” or the “Company”) provided the following statement:


“Triple-S engaged Wolf Popper LLP, a law firm where Elias Sánchez worked, from June 1, 2017 to September 26, 2018. Wolf Popper provided legal counsel as well as public policy and government affairs advice to the Company on various matters, including with respect to ASES.


As a leading managed care organization in Puerto Rico, Triple-S understands that its participation in the Government Health Plan for more than two decades is based on three key pillars: the quality of its service, its commitment to this population, and its financial strength. The Company is not aware of any basis for its selection to participate in the Vital program other than these factors and the technical merits of its proposal. In addition, the Company believes that it complied with all material requirements of the Vital RFP bidding process.


The Company places the highest priority on compliance with all laws and regulations governing its industry and expects the same of its employees and outside advisors. In light of recent press reports regarding ASES, and to ensure that the Company’s conduct complied with its high standards, Triple-S engaged outside counsel earlier this month to conduct a review of its participation in the Vital RFP process, and that review is underway. This sound governance practice reflects the Company’s commitment to operating with the highest integrity.”


About Triple-S Management Corporation


Triple-S Management Corporation is an independent licensee of the Blue Cross Blue Shield Association. It is one of the leading players in the managed care industry in Puerto Rico. Triple-S Management has the exclusive right to use the Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, and Costa Rica. With 60 years of experience in the industry, Triple-S Management offers a broad portfolio of managed care and related products in the Commercial, Medicare Advantage, and Medicaid markets under the Blue Cross Blue Shield marks. It also provides non-Blue Cross Blue Shield branded life and property and casualty insurance in Puerto Rico. For more information about Triple-S Management, visit or contact





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