Suncorp Group has completed its FY25 reinsurance program, aiming to balance costs, earnings, and capital volatility.

Suncorp CEO Steve Johnston noted the return of stability to global reinsurance markets after three years of disruption.

The FY25 program maintains a maximum event retention of $350 million for the first large event and $250 million for the second. The catastrophe program covers losses between $350 million and $6.75 billion for home, motor, and commercial property portfolios in Australia and New Zealand.

Suncorp will not renew its quota share agreement for the Queensland home portfolio.

In New Zealand, 100% buy-down cover has been placed between NZ$200 million ($181.9 million) and the group's maximum event retention.