TRIPLE-S MGMT CL B (GTS, Financial) filed Quarterly Report for the period ended 2010-09-30.
Triple-s Mgmt Cl B has a market cap of $592.9 million; its shares were traded at around $20.33 with a P/E ratio of 8.3 and P/S ratio of 0.3. GTS is in the portfolios of Paul Tudor Jones of The Tudor Group, George Soros of Soros Fund Management LLC.
Consolidated claims incurred increased by $9.1 million, or 2.2%, to $421.5 million during the three months ended September 30, 2010 when compared to the claims incurred during the three months ended September 30, 2009. This increase is principally due to increased claims in the Managed Care segment as a result of higher enrollment and an increase in loss adjustment expenses for the Medicaid business. The consolidated loss ratio decreased by 1.7 percentage points to 84.9%.
Consolidated income tax expense during the three months ended September 30, 2010 increased by $4.3 million to $5.3 million as compared to the income tax expense during the three months ended September 30, 2009. The consolidated effective tax rate increased by 15.3 percentage points, to 20.5%, primarily due to the use of tax credits during the 2009 period.
Consolidated net realized investment losses of $0.3 million during the 2010 period are the result of other-than-temporary impairments amounting to $2.9 million related to equity and fixed income securities, offset in part by net realized gains from the sale of fixed income and equity securities amounting to $2.6 million.
Consolidated claims incurred increased by $71.1 million, or 5.9%, to $1,272.2 million during the nine months ended September 30, 2010 when compared to the claims incurred during the nine months ended September 30, 2009. This increase is principally due to increased claims in the Managed Care segment as a result of higher enrollment. The consolidated loss ratio decreased by 1.2 percentage points to 85.2%.
Consolidated income tax expense during the nine months ended September 30, 2010 increased by $3.7 million to $10.7 million as compared to the income tax expense during the nine months ended September 30, 2009.
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Triple-s Mgmt Cl B has a market cap of $592.9 million; its shares were traded at around $20.33 with a P/E ratio of 8.3 and P/S ratio of 0.3. GTS is in the portfolios of Paul Tudor Jones of The Tudor Group, George Soros of Soros Fund Management LLC.
Highlight of Business Operations:
On August 31, 2010, the Puerto Rico Health Insurance Administration notified our managed care subsidiary, TSS, that the proposal submitted by TSS to provide services to the Medicaid population was not selected. The current contracts expired by their own terms on September 30, 2010. Total Medicaid enrollment as of September 30, 2010 was 544,448 members. The Medicaid premiums earned, net during the nine months ended September 30, 2010 and 2009 amounted to $273.1 million and $257.7 million, respectively. The operating income for the Medicaid business during the nine months ended September 30, 2010 and 2009 amounted to $5.0 million and $13.7 million, respectively.Consolidated claims incurred increased by $9.1 million, or 2.2%, to $421.5 million during the three months ended September 30, 2010 when compared to the claims incurred during the three months ended September 30, 2009. This increase is principally due to increased claims in the Managed Care segment as a result of higher enrollment and an increase in loss adjustment expenses for the Medicaid business. The consolidated loss ratio decreased by 1.7 percentage points to 84.9%.
Consolidated income tax expense during the three months ended September 30, 2010 increased by $4.3 million to $5.3 million as compared to the income tax expense during the three months ended September 30, 2009. The consolidated effective tax rate increased by 15.3 percentage points, to 20.5%, primarily due to the use of tax credits during the 2009 period.
Consolidated net realized investment losses of $0.3 million during the 2010 period are the result of other-than-temporary impairments amounting to $2.9 million related to equity and fixed income securities, offset in part by net realized gains from the sale of fixed income and equity securities amounting to $2.6 million.
Consolidated claims incurred increased by $71.1 million, or 5.9%, to $1,272.2 million during the nine months ended September 30, 2010 when compared to the claims incurred during the nine months ended September 30, 2009. This increase is principally due to increased claims in the Managed Care segment as a result of higher enrollment. The consolidated loss ratio decreased by 1.2 percentage points to 85.2%.
Consolidated income tax expense during the nine months ended September 30, 2010 increased by $3.7 million to $10.7 million as compared to the income tax expense during the nine months ended September 30, 2009.
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