The Triple-S Management Corporation (TSM) —commonly known as Triple-S, or SSS— is an insurance
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
based in
San Juan San Juan, Spanish for Saint John, may refer to:
Places Argentina
* San Juan Province, Argentina
* San Juan, Argentina, the capital of that province
* San Juan, Salta, a village in Iruya, Salta Province
* San Juan (Buenos Aires Underground), ...
,
Puerto Rico
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...
, which offers a wide range of insurance products and services in Puerto Rico through its
wholly owned subsidiaries
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sam ...
. 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 is the leading managed care company in
Puerto Rico
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...
. 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
Blue Cross Blue Shield Association (BCBS, BCBSA) is a federation, or supraorganization, of, in 2022, 34 independent and locally operated BCBSA companies that provide health insurance in the United States to more than 106 million people. It was ...
. 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
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...
and the US Virgin Islands. This provides its members with 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.
History timeline
*1959: A group of physicians and dentists establish Seguros de Servicios de Salud.
*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
*2015: The introduction to
Cristina Bazán
''Cristina Bazán'' is the name of a 1978 and 2016 (The Very End for Cristina Bazán), Puerto Rican telenovela starring Puerto Rican actress and singer Johanna Rosaly, and the Venezuelan singer/idol José Luis Rodríguez ''El Puma''. The soap op ...
, Puerto Rico's highest grossing soap opera of all time, was reshot and used for a television commercial for Triple-S, 38 years after the success of the original. The advertisement was created by
J. Walter Thompson
J. Walter Thompson (JWT) was an advertisement holding company incorporated in 1896 by American advertising pioneer James Walter Thompson. The company was acquired in 1987 by multinational holding company WPP plc, and in November 2018, WPP merge ...
for Triple-S, a health insurance company, to encourage Puerto Ricans to enroll in health plans.
*2015: The introduction to
Cristina Bazán
''Cristina Bazán'' is the name of a 1978 and 2016 (The Very End for Cristina Bazán), Puerto Rican telenovela starring Puerto Rican actress and singer Johanna Rosaly, and the Venezuelan singer/idol José Luis Rodríguez ''El Puma''. The soap op ...
, Puerto Rico's highest grossing soap opera of all time, was reshot and used for a television commercial for Triple-S, 38 years after the success of the original. The advertisement was created by
J. Walter Thompson
J. Walter Thompson (JWT) was an advertisement holding company incorporated in 1896 by American advertising pioneer James Walter Thompson. The company was acquired in 1987 by multinational holding company WPP plc, and in November 2018, WPP merge ...
for Triple-S, a health insurance company, to encourage Puerto Ricans to enroll in health plans.
Competitors (in Puerto Rico)
* Humana
* Puerto Rico Life Insurance Cooperative (Cooperativa de Seguro de Vida de Puerto Rico, or COSVI, in Spanish)
* MCS
* MMM
* First Medical
* Universal Insurance
* MAPFRE
* ASC
References
External links
*
{{Authority control
Financial services companies established in 1959
Companies listed on the New York Stock Exchange
Companies of Puerto Rico
Insurance companies of the United States
Health in Puerto Rico
Companies based in San Juan, Puerto Rico
Members of Blue Cross Blue Shield Association