Steadfast invests in fire detection specialist

Steadfast is stepping up its fire protection risk offerings after making a “strategic” investment in Flame Security International, a fire detection specialist headquartered at the University of New South Wales.

The broking network made the investment via its risk management arm Steadfast Risk Group. It intends to work as an investor with insurer partners, broker network and the wider community to promote the specialist’s fire products, following regulatory approvals.

Flame Security International – which traces its roots to Sweden – and the university have a R&D team of chemists and chemical engineers developing a wide range of fire detection, suppression and protection products.

“We’re pleased to be partnering with FSI Flame Security International, which is at the forefront of developing innovative and sustainable products to defend against the devastating impacts of fire,” EGM Corporate Development Martyn Thompson said.

“Through our investment…we want to bring a new option to our risk management offerings to the broker network and their clients, while building resilience measures to protect people, structures and the environment from fire threats and the risk of rising insurance premiums.”