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Triple-S Management Corporation Reports Second Quarter 2010 Results

Wednesday, August 4, 2010 Corporate News J E 4
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Condensed Consolidated Statements of Cash Flows

(Dollar amounts in thousands, except per share data)

For the Six Months Ended

June 30,

Unaudited2010

Historical2009

Net cash provided by operating activities

$

31,594

$

49,128

Cash flows from investing activities:

Proceeds from investments sold or matured:

Securities available for sale:

Fixed maturities sold

43,443

114,876

Fixed maturities matured/called

58,312

123,995

Equity securities

14,685

1,629

Securities held to maturity:

Fixed maturities matured/called

1,276

2,915

Acquisition of investments:

Securities available for sale:

Fixed maturities

(143,742)

(250,641)

Equity securities

(17,285)

(2,286)

Fixed maturity securities held to maturity

(250)

-

Net outflows for policy loans

(114)

(70)

Net capital expenditures

(10,197)

(8,876)

Net cash used in investing activities

(53,872)

(18,458)

Cash flows from financing activities:

Change in outstanding checks in excess of bank balances

(2,483)

(10,143)

Change in short-term borrowings

17,695

-

Repayments of long-term borrowings

(820)

(820)

Repurchase and retirement of common stock

-

(22,034)

Proceeds from policyholder deposits

5,772

2,547

Surrenders of policyholder deposits

(3,959)

(3,616)

Net cash provided by (used in) financing activities

16,205

(34,066)

Net decrease in cash and cash equivalents

(6,073)

(3,396)

Cash and cash equivalents, beginning of period

40,376

46,095

Cash and cash equivalents, end of period

$

34,303

$

42,699

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