Published: 12 March 2025
The Economic Insurance Result (EIR), which has replaced the Performance from Insurance Operations as the key performance measure for Victoria's workers compensation scheme, was a surplus of $322 million.
WorkSafe recorded a net surplus after tax of $455 million, mainly driven by strong investment returns that were significantly greater than long term expectations.
WorkSafe Acting CEO Ash West said there was still more to do to ensure the long term sustainability of the scheme, after a decade of continued claims growth.
"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."
"Ensuring the long-term future of Victoria’s workers compensation scheme is crucial to supporting our goals as we strive to set new benchmarks in harm reduction and strengthen pathways for injured workers to return to work."
WorkSafe's insurance funding ratio is at 108.8 per cent, within the preferred funding range of 100-140 per cent.