Half-year results demonstrate positive trend in WorkSafe's financial position

WorkSafe's half-yearly results indicate that the financial status of the safety regulator is getting better.

The results show the Economic Insurance Result (EIR), replacing the Performance from Insurance Operations as the primary performance metric for Victoria's workers compensation scheme, yielded a surplus of $322 million.

WorkSafe achieved a net surplus after tax of $455 million, largely due to investment returns that surpassed long-term expectations by a considerable margin.

WorkSafe Acting CEO Ash West said there remains significant work to be done to ensure the scheme's long-term sustainability, particularly in light of a decade characterised by a steady rise in claims.

"WorkSafe's highest priority remains reducing workplace harm and improving outcomes for injured workers," Mr West said.

For further information, please visit the WorkSafe Victoria website.