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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 $23.3 million, or $1.00 per diluted share, versus net loss of $26.1 million, or $1.12 per share, in the prior-year period;

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Adjusted net income of $15.6 million, or $0.67 per diluted share, versus adjusted net income of $17.7 million, or $0.75 per diluted share, in the prior-year period;

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Operating revenue of $1.03 billion, a 14.6% increase from the prior-year period, primarily reflecting higher Managed Care net premiums earned;

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Consolidated loss ratio of 84.4%, an increase of 280 basis points compared with the first quarter of 2020, reflecting higher Managed Care utilization;

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Medical loss ratio (MLR) of 87.1%, 340 basis points higher than the same period last year;

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Consolidated operating income of $25.9 million, a 32% increase from the prior-year period.

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Managed Care premiums earned were $932.0 million, up 15.1% year-over-year.

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Medicare premiums earned were $402.3 million, an increase of 3.7% from the prior-year period. The increase was largely due to higher premium rates resulting from a rise in the premium rate benchmark and membership risk score.  Membership was flat compared with the prior-year period.

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Medicaid premiums earned were $322.7 million, an increase of 46.1% from the prior-year period, primarily reflecting higher member months of approximately 228,000 and higher average premium rates following premium rate increases effective in May and July 2020; these increases were partially offset by the elimination of the HIP Fee pass-through in 2021.

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Commercial premiums earned were $207.0 million, an increase of 2.9% from the prior-year period, mainly reflecting higher average premium rates in the 2021 period.  This increase was partially offset by a reduction of approximately 21,000 fully insured member months and the elimination of the HIP Fee pass-through in 2021.

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Reported MLR was 87.1%, an increase of 340 basis points from the prior-year period, primarily reflecting the elimination of the HIP Fee in 2021; lower utilization of services during the last two weeks of the 2020 quarter, as the result of the pandemic-related lockdown; higher costs associated with COVID-19-related testing, treatment costs and the waiver of medical and payment policies; and increased benefits in the Medicare product offering in 2021.

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Managed care operating expenses were $110.0 million, a decrease of $16.1 million, or 12.8%, from the prior-year period, primarily due to the elimination of the HIP Fee in 2021.  The segment operating expense ratio was 11.8%, a 370 basis-point improvement from the prior-year quarter.

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Premiums earned, net were $52.5 million, an increase of 12.4% from the prior-year period, resulting from new sales and increased persistency in monthly debit ordinary life (MDO) products, as well as the acquisition of a life insurance portfolio in the second quarter of 2020.

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Operating income increased 13.7% to $5.8 million, from $5.1 million in the prior-year period, primarily because of higher premiums and a 270 basis point lower loss ratio in the 2021 quarter.

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Premiums earned, net were $25.3 million, an increase of 22.8% from the prior-year period. The increase was mostly due to higher sales of commercial liability and commercial property products and to $3 million of reinsurance reinstatement premiums following losses recorded after the January 2020 earthquakes.

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Operating income was $3.8 million, compared with an operating loss of $0.2 million during the prior-year period, primarily driven by lower losses and operating expenses in the 2021 quarter.  The 2020 period includes $5 million in losses incurred due to the January 2020 earthquakes.

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As of March 31, 2021, reserves related to Hurricane Maria were $177 million and 332 of the total 17,785 Maria-related claims remained outstanding. In early May, we concluded the settlement of our largest claim, and along with the resolution of additional claims paid after the end of the first quarter, Maria-related reserves will decrease to approximately $119 million.

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Consolidated operating revenue is expected to be between $3.98 billion and $4.02 billion, which includes Managed Care premiums earned, net between $3.58 billion and $3.62 billion.

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Consolidated claims incurred ratio is expected to be between 83.0% and 84.0%, while Managed Care MLR is expected to be between 86.0% and 87.0%.

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Consolidated operating expense ratio is expected to be between 15.5% and 16.5%.

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The effective tax rate is expected to be between 29.0% and 31.0%.

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Adjusted net income per diluted share is expected to be between $2.95 and $3.15.  Adjusted net income per diluted share does not account for any potential share repurchase activity during 2021.  The Company is assuming a weighted average diluted share count for full year 2021 of 23.6 million shares.

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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 and government agencies 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

		For the Three Months Ended March 31,
		2021				2020
Revenues
Premiums earned, net		$	1,008,436			$	875,897
Administrative service fees			2,765				2,194
Net investment income			13,646				14,311
Other operating revenues			2,776				4,039
Total operating revenues			1,027,623				896,441
Net realized investment gains (losses)			217				(466	)
Net unrealized investment gains (losses) on equity investments			8,552				(56,806	)
Other income, net			3,111				3,605
Total revenues			1,039,503				842,774
Benefits and expenses
Claims incurred, net of reinsurance			850,558				714,522
Operating expenses			151,101				162,201
Total operating costs			1,001,659				876,723
Interest expense			1,992				1,853
Total benefits and expenses			1,003,651				878,576
Income (loss) before taxes			35,852				(35,802	)
Income tax expense (benefit)			12,545				(9,650	)
Net income (loss)			23,307				(26,152	)
Net loss attributable to non-controlling interest			3				7
Net income (loss) attributable to Triple-S Management Corporation		$	23,310			$	(26,145	)
Earnings per share attributable to Triple-S Management Corporation:
Basic net income (loss) per share		$	1.00			$	(1.12	)
Diluted net income (loss) per share		$	1.00			$	(1.12	)
Weighted average of common shares			23,231,698				23,381,949
Diluted weighted average of common shares			23,418,265				23,381,949

		For the three months ended March 31,
		2021				2020
Net cash provided by operating activities		$	68,693			$	6,518
Cash flows from investing activities:
Proceeds from investments sold or matured:
Securities available-for-sale:
Fixed-maturities sold			43,023				43,425
Fixed-maturities matured/called			6,987				11,099
Securities held-to-maturity:
Fixed-maturities matured/called			-				81
Equity investments sold			31,394				21,107
Other invested assets sold			7,629				8,524
Acquisition of investments:
Securities available-for-sale			(51,865	)			(42,822	)
Fixed-maturities
Securities held-to-maturity
Fixed-maturities			-				(80	)
Equity investments			(128,739	)			(102,733	)
Other invested assets			(5,368	)			(10,438	)
Increase (decrease) in other investments			326				(4,086	)
Net change in policy loans			(96	)			(241	)
Net capital expenditures			(5,196	)			(4,587	)
Capital contribution on equity method investees			-				(4,933	)
Net cash used in investing activities			(101,905	)			(85,684	)
Cash flows from financing activities:
Change in outstanding checks in excess of bank balances			32,450				53,485
Net change in short-term borrowings			7,000				24,000
Repayments of long-term borrowings			(1,122	)			(810	)
Repurchase and retirement of common stock			-				(8,989	)
Proceeds from policyholder deposits			5,091				10,296
Surrender of policyholder deposits			(2,471	)			(4,073	)
Net cash provided by financing activities			40,948				73,909
Net increase (decrease) in cash and cash equivalents			7,736				(5,257	)
Cash and cash equivalents, beginning of period			110,989				109,837
Cash and cash equivalents, end of period		$	118,725			$	104,580

(Unaudited)		Three months ended March 31,
(dollar in millions)		2021				2020				Percentage Change
Premiums earned, net:
Managed Care:
Medicare		$	402.3			$	387.8				3.7	%
Medicaid			322.7				220.9				46.1	%
Commercial			207.0				201.1				2.9	%
Total Managed Care			932.0				809.8				15.1	%
Life Insurance			52.5				46.7				12.4	%
Property and Casualty			25.3				20.6				22.8	%
Other			(1.4	)			(1.2	)			(16.7	%)
Consolidated premiums earned, net		$	1,008.4			$	875.9				15.1	%
Operating revenues: 1
Managed Care		$	940.1			$	818.1				14.9	%
Life Insurance			58.9				53.6				9.9	%
Property and Casualty			27.3				22.7				20.3	%
Other			1.3				2.0				(35.0	%)
Consolidated operating revenues		$	1,027.6			$	896.4				14.6	%
Operating income (loss): 2
Managed Care		$	18.7			$	14.2				31.7	%
Life Insurance			5.8				5.1				13.7	%
Property and Casualty			3.8				(0.2	)			2000.0	%
Other			(2.4	)			0.6				(500.0	%)
Consolidated operating income		$	25.9			$	19.7				31.5	%
Operating margin: 3
Managed Care			2.0	%			1.7	%			30	bp
Life Insurance			9.8	%			9.5	%			30	bp
Property and Casualty			13.9	%			(0.9	%)			1,480	bp
Consolidated			2.5	%			2.2	%			30	bp
Depreciation and amortization expense		$	3.5			$	3.9				(10.3	%)

		Three months ended March 31,
(Unaudited)		2021				2020
Member months enrollment:
Medicare Advantage			408,781				407,907
Medicaid			1,296,189				1,068,016
Commercial:
Fully insured			956,947				978,342
Self-insured			295,837				330,232
Total Commercial			1,252,784				1,308,574
Total member months			2,957,754				2,784,497
Claim liabilities (in millions)		$	494.7			$	340.0
Days claim payable			55				46
Premium PMPM:
Managed Care		$	350.12			$	329.96
Medicare Advantage			984.15				950.71
Medicaid			248.96				206.83
Commercial			216.31				205.55
Medical loss ratio:			87.1	%			83.7	%
Medicare Advantage			87.3	%			82.7	%
Medicaid			87.3	%			90.3	%
Commercial			86.1	%			78.4	%
Adjusted medical loss ratio: 1			89.3	%			84.2	%
Medicare Advantage			90.3	%			81.4	%
Medicaid			91.0	%			95.2	%
Commercial			84.9	%			78.1	%
Operating expense ratio:
Consolidated			14.9	%			18.5	%
Managed Care			11.8	%			15.5	%

		As of March 31,
		2021				2020
Members:
Medicare Advantage			135,977				135,710
Medicaid			436,772				355,512
Commercial:
Fully insured			317,947				325,253
Self-insured			98,429				109,760
Total Commercial			416,376				435,013
Total members			989,125				926,235

		Adjusted Net Income
(Unaudited)		Three months ended March 31,
(dollar in millions)		2021				2020
Net income (loss)		$	23.3			$	(26.1	)
Less adjustments:
Net realized investment gains (losses)			0.2				(0.5	)
Unrealized gains (losses) on equity investments			8.6				(56.8	)
Private equity investment income			1.0				3.2
Tax impact of non-GAAP adjustments			(2.1	)			10.3
Adjusted net income		$	15.6			$	17.7
Diluted adjusted net income per share		$	0.67			$	0.75

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