Triple-S Management Corporation Appoints New Non-Executive Chairman to Board; Adds New Director

SAN JUAN, Puerto Rico, May 14 /PRNewswire-FirstCall/ -- Triple-S Management Corporation today announced that Luis Clavell-Rodriguez, MD, medical director at the San Jorge Children's Hospital and principal investigator for the Children's Oncology Group and the Dana Farber Acute Lymphoblastic Leukemia Consortium, was appointed chairman of the board of directors. He has served on the Triple-S Management board since 2006, most recently as secretary.

"Dr. Clavell-Rodriguez is an asset to our company and our board," said Ramon M. Ruiz-Comas, President and Chief Executive Officer. "His wealth of knowledge of the medical field and his experience working with the managed care industry will serve Triple-S Management well as we grow our business and move forward as a public entity."

Also elected to the Board was Jorge Fuentes-Benejam, PE, a licensed engineer who is chairman, president, and chief executive officer of Fuentes Concrete Pile Co. Inc. and related entities. Leaving the board are Dr. Wilmer Rodriguez-Silva, former chairman, Dr. Arturo Cordova-Lopez, and Dr. Wilfredo Lopez-Hernandez, all of whom step down having served three terms. The Triple-S Management Board now consists of 17 members.

Triple-S Management is also pleased to announce that it has enhanced its management team with two recent strategic hires. Roberto Garcia-Rodriguez, Esquire, has joined the company as vice president and general counsel. Prior to joining Triple-S, Mr. Garcia-Rodriguez was the vice president of corporate and legal affairs at Puerto Rico Telephone Company, Inc., where he oversaw legal, regulatory and government affairs, as well as human resources. Mr. Garcia-Rodriguez did his undergraduate work at Harvard University and holds an MBA and J.D. from Stanford University.

In addition, Triple-S Management appointed Francisco Martorell as vice president of corporate development. Mr. Martorell brings more than 20 years of experience in the Puerto Rican and U.S. capital markets, including 15 years of direct investment advisory roles to corporations involved in mergers and acquisitions within the Caribbean and Central and South America. Prior to joining Triple-S, Mr. Martorell was managing partner of Ubequity Partners, a firm he founded to perform a wide variety of financial advisory functions in mergers and acquisitions and private equity transactions in Puerto Rico. Before founding Ubequity Partners, Mr. Martorell was president and co-founder of Neva Management Corporation, a private equity investment firm in Puerto Rico.

About Triple-S Management Corporation

Triple-S Management Corporation is the largest managed care company in Puerto Rico and has the exclusive right to use the Blue Shield name and mark throughout the country. It holds a leading market position, with approximately 1 million members across all regions, or about 25 percent of the population. With more than 45 years of experience in the industry, Triple-S Management offers a broad portfolio of managed care and related products in the commercial, Medicare and the Reform markets. It also provides complementary products and services. The Company is the largest provider of life and accident and health insurance and the fourth largest provider of property and casualty insurance in its market.

For more information about Triple-S Management, visit http://www.triplesmanagement.com/.