Thursday, 30 June 2022: Steadfast Risk Group, the risk management division of Australasia’s largest general insurance broker network, Steadfast Group (Steadfast), has announced a strategic investment in Flame Security International (FSI).
The first of its kind for Steadfast, the strategic investment reinforces our shared vision with FSI to address and improve the resilience of homes and business assets against fires.
FSI’s range of fire prevention and protection technologies in fire, defence and solar, effectively reduces the harm caused by fire threats against communities and the environment.
Executive General Manager of Corporate Development at Steadfast, Martyn Thompson, said: “With climate change resulting in the warming of Australia, we can expect more frequent extreme natural hazard events, such as bushfires, leading to increased damage to our infrastructure, property and assets; insurance clients will potentially need to claim on their insurance policies more frequently.
“We’re pleased to be partnering with Flame Security International, which is at the forefront of developing innovative and sustainable products to defend against the devastating impacts of fire.
Through our investment in Flame Security International, 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”.
Managing Director of Flame Security International, Justin Rooney, said: “FSI welcomes Steadfast as a cornerstone investor and technical collaborator in tackling the global human, commercial and environmental threats faced by our communities and businesses around fire risk and sustainability, with an economically viable solution.
“Steadfast’s investment in FSI will accelerate and underpin the commercialisation of our efficient fire protection products in both Australia and across the globe which aim to improve community resilience to bushfire and other fire threats”.
Some examples of FSI’s suite of environmentally friendly, non-toxic protection solutions for fire include:
• For combustible cladding: tough, durable polymer-based external renders for combustible cladding and durable polymer-based internal and external paints for any substrates.
• For buildings: a range of water-based interior and exterior paints that prevent fire propagation and polymer-based membranes designed to wrap the base of power poles and protect glass windows and doors from bushfires.
• For bushfires: the range includes a water-based containment line spray designed to be deployed from the ground and other water-based sprays, gels and foams for property owners to protect their homes and assets.
• For textiles: a range of washable water-based fire retardants for both natural and synthetic textiles enabling furniture and home furnishing fabrics to be fire retardant.
As part of the strategic investment, Steadfast intends to work with insurer partners, broker network and the wider community to promote FSI’s fire products, following regulatory approvals.
FSI protection solutions are the products of extensive Australian and Swedish research and development, including world first technologies for solar and defence applications. FSI has received considerable support from the Australian and Victorian governments as well as the Department of Defence and Australian industry partners.
For further information from Steadfast Group contact:
For further information from Flame Security International contact: