Numsa-linked 3Sixty Life placed under final curatorship
In a victory for the Prudential Authority, the High Court also cancelled the appointment of Yashoda Ram as provisional curator of 3Sixty Life
3Sixty Life, the underwriter ultimately owned by the National Union of Metalworkers of SA (Numsa), has been placed under final curatorship more than nine months after authorities first tried to have it placed under financial supervision.
Gauteng high court judge Fiona Dippenaar ruled on September 30 that 3Sixty Life be placed under final curatorship and ordered it to pay the costs of two counsel employed by the Prudential Authority (PA), the financial regulator with which the firm has been locked in various legal disputes since December 2021. Dippenaar also cancelled the appointment of Yashoda Ram, the former head of actuarial services of BDO SA, as provisional curator of 3Sixty Life and replaced her with Tinashe Frank Mashoko...
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