The Group has 3 main subsidiaries, the 360 Financial Services Group, NUMSA Industrial Holdings and NUMSA Property Group.
3Sixty Financial Services Group
360 Financial Services Group (360 FSG) is a subsidiary of the NUMSA Investment Company (NIC) (www.numsainvestment.co.za).
The 360 FSG story started in 2006 when NIC acquired Doves Group Holdings through Brevity Trade 12, Brevity was rebranded into 360 FSG in 2015. Although started in 1997, NIC was taken to the Cape High Court for liquidation by the Public Investment Company (PIC) IN 2008 as a result of failure to service the debt.
In addition to the PIC there were other creditors who were pursuing NIC. The total liability of NIC was in excess of R250Million far greater than its assets and as a result the Group was unable to invest in its growth. Through balance sheet and business re-engineering, negotiations with creditors the business was rescued from liquidation and insolvency.
Emerging from a near liquidation situation, the Group started a growth trajectory from being only a funeral services provider to an integrated financial services group offering a variety of products and services. Our investments include a life insurance company, medical aid administrator, Information technology and now recently entered into the retirement fund industry. In 2010 the Group established NUMSA Financial Services (www.numsafinancialservices.co.za) which is a life insurance, short term insurance and medical aid Brokerage company that exclusively services NUMSA members.
Pioneering financial services products through disruptive strategies that reduce cost costs and enhance benefits to our clients.
360 Financial Services Growth Strategy
To develop and/or acquire equity and operational control in entities which operate in the financial services industry, broadly defined as any service or product for which a promise is made in exchange for a premium.
360 Financial Services Group has various licenses from both the Financial Sercices Board and the Council for medical Scheme
Value Chain Stratergy
The Group philosophy is to participate throughout the value chain of the financial services to leverage scope and create scale.
NUMSA Industrial Holdings
The Group is now developing and industrial holdings portfolio, our first investment is a 30% equity stake in Mofaya Beverage Company (www.mofayaenergy.com)