WorkSafe reports $455 million half-year net surplus
12 Mar 2025•BlueSafe Team•Source: WorkSafe VIC
WorkSafe Victoria has recorded a half-year net surplus after tax of $455 million, largely driven by investment returns well above long-term expectations.
The Economic Insurance Result (EIR) delivered a $322 million surplus. It has replaced Performance from Insurance Operations as the key measure of the Victorian workers compensation scheme's performance.
WorkSafe's insurance funding ratio stood at 108.8 per cent, inside its preferred range of 100–140 per cent.
Acting CEO Ash West said further work was needed to secure the scheme's long-term sustainability following a decade of continued growth in claims.
"WorkSafe's highest priority remains reducing workplace harm and improving outcomes for injured workers," Mr West said.
"These results are an improvement but demonstrate that there is still work to be done to ensure a sustainable future."
Mr West said securing the scheme's future was crucial to its goals of reducing workplace harm and strengthening pathways for injured workers to return to work.