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.
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