A record low rate of workplace injuries and disciplined claims management have contributed to WorkSafe Victoria’s solid half-year performance.

WorkSafe Chief Executive, Denise Cosgrove, said the scheme continued to deliver for all Victorians.

“Victorian workplaces have never been safer in terms of injury rates and, together with our agents, we’ve continued to achieve strong claims liability results,” she said.

“We’ve recorded a performance from insurance operations result (PFIO) of $13 million, indicating that management of the scheme remains on a sound footing.

Ms Cosgrove said PFIO was the most insightful measure of the scheme’s performance, given it focused on the fundamentals that management could control, such as operational costs and its claims management ability.

“Performance from insurance operations excludes external factors, such as interest rates and investment market performance, that can otherwise mask either good or bad scheme management,” she said.

Ms Cosgrove said that when all external factors were taken into account, the net result after tax was $487 million.

“This result was helped by stronger than forecast investment returns driven by more favourable investment market conditions, and other economic factors such as lower than forecast inflation," she said.