WorkSafe half-year results

WorkSafe's financial position remains challenging, half-yearly results show.


The Performance from Insurance Operations (PFIO) result for the six months to December 2023 was a deficit of $1.1 billion.

WorkSafe recorded a net loss after tax of $726 million, with strong investment returns of 3.7 percent and greater collection of premiums offset by continued claims growth and a $587 million increase in expected future claims liabilities.

WorkSafe's insurance funding ratio is at 101.8 per cent, within the preferred funding range of 100-140 per cent.