Triple-S Management Corporation

The Triple-S Management Corporation (TSM) —commonly known as Triple-S, or SSS— is an insurance holding company based in San Juan, Puerto Rico, which offers a wide range of insurance products and services in Puerto Rico through its wholly owned subsidiaries. Listed in the NYSE as GTS, Its headquarters are located at 1441 Franklin D. Roosevelt Ave., in the San Patricio section of San Juan.

Triple-S Management Corporation
Traded asNYSEGTS (Class B)
Russell 2000 Component
Founded1959; 61 years ago (1959),
in San Juan, Puerto Rico
HeadquartersSan Juan, Puerto Rico
Key people
  • Luis A. Clavell-Rodríguez
  • (Chairman of the Board)
  • Cari M. Domínguez
  • (Vice Chairman of the Board)
  • Roberto García-Rodríguez, Esq.
  • (President & CEO)
  • Juan J. Román-Jiménez
  • (Executive VP & CFO)
RevenueDecrease US$ 2.92 billion (2017)
Increase US$ 85.77 million (2017)
Increase US$ 54.48 million (2017)
Total assetsIncrease US$ 3.12 billion (2017)
Total equityIncrease US$ 912.68 million (2017)
Number of employees
3,420 (2017)
Footnotes / references

Triple-S is the leading managed care company in Puerto Rico. With over one million customers, in addition to its core managed care business, TSM operates two complementary businesses in life, and property and casualty insurance. Founded in 1959, it has become the largest medical insurance provider in Puerto Rico thanks to its licensed affiliation with the Blue Cross and Blue Shield Association. Since 1965, Triple-S, Inc. has been an independent licensee of the Blue Cross and Blue Shield Association, holding the exclusive rights to the Blue Cross and Blue Shield name and trademark in Puerto Rico and the US Virgin Islands. Triple-S also has operations in Costa Rica as Blue Cross Blue Shield of Costa Rica. This provides its members with valuable access to the Blue Card network in the U.S. It is the only managed-care company that serves all market sectors, including Medicare, Medicaid, Group and Individual, in Puerto Rico and is one of the most recognized brands locally.[1]

History timelineEdit

Ever since Triple-S was established, it has been our commitment to make people feel safe and secure. We are in the business of protecting lives, contributing to the well-being and quality of life of the communities we serve.

  • 1959: Concerned with the need to provide better access to healthcare, a group of visionary physicians and dentists establish Seguros de Servicios de Salud.
  • 1965: Blue Cross and Blue Shield Association selects Triple-S, Inc. as its exclusive Blue Shield licensee in Puerto Rico.
  • 1966: Triple-S, Inc. manages Medicare Part B in Puerto Rico once Medicare is created.
  • 1984: Triple-S enters the life insurance market to complement its managed care offerings and creates Seguros de Vida Triple-S.
  • 1988: As part of a diversification strategy, the company enters the property and casualty insurance market and establishes Seguros Triple-S.
  • 1995: Triple-S is awarded a contract to provide services to the Puerto Rico Health Reform.
  • 1999: Stockholders create Triple-S Management Corporation (TSM), a holding company, to facilitate the growth and diversification of the business.
  • 2005: Triple-S, Inc. begins its participation in the Medicare Advantage segment.
  • 2006: TSM acquires Great American Life Assurance Company of Puerto Rico (GA Life) and after its merger with Seguros de Vida Triple-S, it becomes Triple-S Vida, the leading life insurance company in Puerto Rico.
  • 2007: TSM is the first Puerto Rican managed care company to become a public company trading its shares in the New York Stock Exchange, under the symbol GTS (Grupo Triple-S).
  • 2009: Grupo Triple-S celebrates its 50th anniversary and renews its corporate identity. Triple-S Salud, Inc. completes the purchase of certain managed care assets of La Cruz Azul de Puerto Rico and is awarded the Blue Cross license, thereby becoming in the Blue Cross Blue Shield Association licensee of Puerto Rico and the US Virgin Islands.
  • 2011: TSM acquires American Health Medicare, a Medicare Advantage services provider over 40,000 members.
  • 2012: Triple-S Salud creates Blue Cross Blue Shield of the U.S. Virgin Islands and enters the USVI market to offer health insurance products to the commercial segment.
  • 2013: Triple-S Salud is selected as administrator for all the regions of the Puerto Rico Government Health Plan. The corporation lays the foundation for its expansion to international markets through Triple-S Vida's acquisition of Atlantic Southern Insurance Company (ASICO), with headquarters in Puerto Rico and operations in the US Virgin Islands, British Virgin Islands, Anguilla and Costa Rica.
  • 2014: ASICO is rebranded as Triple-S Blue and its expansion into Latin America starts with the launch of the BCBS Costa Rica brand. The brands of AHM and Triple-S Salud Medicare Advantage division are consolidated and rebranded as Triple-S Advantage

Subsidiaries and servicesEdit

  • Triple-S Salud, Inc. ( – Its main subsidiary, Triple-S Salud is dedicated to providing medical insurance to companies, organizations, governments, and individuals through its Commercial Program, as well as participating in the Puerto Rico Health Reform Program.
  • Triple-S Advantage ( – An independent licensee of the BlueCross BlueShield Association, offering a broad portfolio of Medicare Advantage products and services.
  • BCBS Costa Rica ( – Licensee of the BlueCross BlueShield Association dedicated to provide medical insurance to individuals.
  • Triple-S Propiedad ( – A property and casualty insurance company.
  • Triple-S Vida ( – A life and disability insurance and annuity products company.
  • Interactive Systems – Provides processing services to Triple-S Management Corporation and its subsidiaries.

Executive teamEdit

  • Roberto García – president and chief executive officer; secretary since 2010; VP and general counsel since 2008. Previously, VP and general counsel at Puerto Rico Telephone. He holds a BA from Harvard University, an MBA from Stanford Graduate School of Business, and a JD from Stanford Law School. He completed the six-week Advanced Management Program at Harvard.
  • Juan José Román – executive vice president and chief financial officer since January 2016. Prior roles at GTS include corporate VP & CFO; and executive VP and finance VP of Triple-C. Most recently, he was executive VP, CFO and treasurer at EVERTEC. He is a certified public accountant and a Chartered Global Management Accountant. He has a BA in business administration with a major in accounting from the University of Puerto Rico.
  • Madeline Hernández Urquiza – president and chief executive officer of Triple-S Salud and Triple-S Advantage. Served as chief risk officer of Triple-S Salud since 2010, in charge of actuarial, underwriting, statistics and clinical management. Served as VP of finance and executive VP of Triple-C. Holds a Masters in Finance and a BA in administration and accounting from the Interamerican University.
  • Arturo L. Carrión-Crespo – president and chief executive officer of Triple-S Vida (formerly Great American Life Assurance Company of Puerto Rico, Inc.) since 1998. He served as a VP of finance at GA Life since 1987. Previously, he worked at KPMG LLP from 1978 to 1987. A certified public accountant, he has a BBA in accounting from University of Puerto Rico.
  • José Del Amo Mojica – president of Triple-S Propiedad since March 2017. He has held positions of increasing responsibility since joining the company in 1998, including surety manager, manager, VP and senior VP of underwriting and, most recently, senior VP of underwriting and claims. Previously, he worked at Universal Insurance Company. He is a certified public accountant with a BBA in accounting from the University of Puerto Rico.
  • Dr. José E. Novoa Loyola – chief medical officer since July 2015. Served as medical director of the Cardiovascular Center of Puerto Rico and the Caribbean, as well as head of its cardiology department. He is certified by the Board of Cardiovascular Disease and the American Board of Internal Medicine. He studied medicine at the University of Puerto Rico and completed training in echocardiography at the Mayo Clinic in Rochester, Minnesota.
  • Juan José Díaz-Goitía – chief information officer of GTS and president of Interactive Systems, Inc. (DBA TriServe Tech). Previously, executive VP of Triple-S Vida, and chief investment officer at Advent-Morro Equity Partners. Holds a Bachelor of Science in Business Administration–Information Systems (BSBA-IST) from the University of Florida at Gainesville.

Competitors (in Puerto Rico)Edit

  • Humana
  • Puerto Rico Life Insurance Cooperative (Cooperativa de Seguro de Vida de Puerto Rico, or COSVI, in Spanish)
  • MCS
  • MMM
  • First Medical
  • Universal Insurance
  • ASC


  1. ^ a b "US SEC: Form 10-K Triple-S Management Corporation". U.S. Securities and Exchange Commission. Retrieved March 8, 2018.

External linksEdit