8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): January 13, 2006

TRIPLE-S MANAGEMENT CORPORATION

(Exact Name of Registrant as Specified in Charter)

Puerto Rico
(State or Other Jurisdiction of Incorporation) 000-49762
(Commission File Number) 66-0555678
(IRS Employer Identification No.)

Registrant’s telephone number, including area code: 787-749-4949

1441 F.D. Roosevelt Avenue, San Juan, Puerto Rico 00920
(Address of Principal Executive Offices and Zip Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure

On January 13, 2006, Triple-S Management Corporation (the “Corporation”) issued a press release announcing that its Board of Directors authorized and directed management to commence the process of promoting an initial public offering for the Corporation. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 7.01 and in the accompanying exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 8.01. Other Events

On January 13, 2006, the Board of Directors of the Corporation declared a cash dividend of $6,225,800.00 to be distributed pro rata among all of the issued and outstanding common shares of the Corporation, except for the issued and outstanding common shares of the Corporation that have been granted to the community directors of the Corporation. The dividend will be payable on January 20, 2006 to the shareholders of record as of the close of business on January 16, 2006.

Item 9.01 Financial Statements and Exhibits

          (c) Exhibits. The following exhibit shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended.

     99.1 Press Release dated January 13, 2006.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TRIPLE-S MANAGEMENT CORPORATION
Date: January 13, 2005	By:	/s/ Ramón M. Ruiz Comas
		Name:	Ramón M. Ruiz-Comas
		Title:	President & Chief Executive Officer

EX-99.1

Exhibit 99.1

Triple-S Management to Initiate Process to Promote
An Initial Public Offering

SAN JUAN, Puerto Rico. January 13, 2006 — Triple-S Management Corporation (“TSM” or the “Corporation”) has authorized and directed management to initiate the process of promoting an initial public offering for the Corporation.

“We need to continue with the Corporation’s development based on our strategy of diversification,” said Ramón M. Ruiz, President and Chief Executive Officer of the Corporation. “This is the next logical step in the development of TSM,” he explained. “The initial public offering would increase the Corporation’s capital, which would allow us to offer new products and services to benefit our consumers,” said Ruiz.

TSM is the holding company of the entities that make up the Triple-S Group. The Triple-S Group includes a health insurance company, Triple-S, Inc.; an independent licensee of the Blue Cross/Blue Shield Association; Seguros de Vida Triple-S, Inc., a life insurance company; the property and casualty insurance subsidiary, Seguros Triple-S, Inc.; Triple-C, Inc., the company that administers the Puerto Rico Health Reform program for Triple-S, Inc. and certain health services for other companies in Puerto Rico; and the insurance agency Signature Insurance Agency, Inc. In addition, TSM is the holding company of Interactive Systems, Inc., which provides technological applications and solutions for all of TSM’s subsidiaries.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

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