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I'm more worried about theft than fire. If I was inclined I'd build a closet and line the inner and outer wall with a couple layers of cement board, mud+paint and add a steel door. That will add a lot of time before the fire gets to the safe.
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This is very similar to what I'm doing - add some reinforcing mesh between two layers of cement board (not structural, it adds to security in case someone tries to bust through the wall), reinforced steel door frame, deadbolts and alarms/monitoring. Don't forget to do the floor & ceiling too.
From the outside it looks like just a closet, but it would take someone an awful long time to get in there (and they'd probably set off an alarm in the process).
If you're getting a premanufactured safe, I'd use epoxy anchors to physically attach it to the basement floor slab. Otherwise a team of 4-5 guys could just take the whole thing and walk off with it - not suPer common, but it happens.