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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000950103-07-002991.txt : 20071211
<SEC-HEADER>0000950103-07-002991.hdr.sgml : 20071211
<ACCEPTANCE-DATETIME>20071211184007
ACCESSION NUMBER:		0000950103-07-002991
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071206
FILED AS OF DATE:		20071211
DATE AS OF CHANGE:		20071211

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LOPEZ-HERNANDEZ WILFREDO
		CENTRAL INDEX KEY:			0001279607

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33865
		FILM NUMBER:		071300046

	MAIL ADDRESS:	
		STREET 1:		PO BOX 363628
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00936-3628

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRIPLE-S MANAGEMENT CORP
		CENTRAL INDEX KEY:			0001171662
		STANDARD INDUSTRIAL CLASSIFICATION:	ACCIDENT & HEALTH INSURANCE [6321]
		IRS NUMBER:				660555678
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1441 F.D. ROOSEVELT AVE.
		CITY:			SAN JUAN
		STATE:			A1
		ZIP:			00920
		BUSINESS PHONE:		7877494949
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>dp07881_4-hernandezex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-12-06</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001171662</issuerCik>
        <issuerName>TRIPLE-S MANAGEMENT CORP</issuerName>
        <issuerTradingSymbol>GTS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001279607</rptOwnerCik>
            <rptOwnerName>LOPEZ-HERNANDEZ WILFREDO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PO BOX 363628</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN JUAN PUERTO RICO</rptOwnerCity>
            <rptOwnerState>PR</rptOwnerState>
            <rptOwnerZipCode>00936-3628</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2007-12-06</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.5575</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-12-06</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>600</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Sale as a selling shareholder in initial public offering.  In the IPO the class A shares sold converted into class B shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Wilfredo Lopez Hernandez</signatureName>
        <signatureDate>2007-12-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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