This penetration appears to be have had a sizable chunk of concrete break off when the installer was drilling the wall. It appears to be sealed with an appropriate fire proof type foam sealant. Because of the location and appearance, I recommended this area be properly caulked and painted to prevent moisture intrusion, UV damage to the foam, and help keep out insects.
What makes you think it is fire proof? Just curious what indicators are there.
My concern is foam is not a waterproofing material and that wall penetration is at grade. Caulk and paint will likely help.
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