The Victorian WorkCover Authority has lodged a full-year profit of $1.17 billion, with a relentless public safety campaign and investments producing tangible results.

Now trading as WorkSafe, the government instrumentality posted a second-half profit of $495 million, and the full-year return from insurance operations was $729 million. Full-year profit was up 16.6% since 2005/06.

WorkSafe Chairman Elana Rubin says work injury claims are at historically low levels in Victoria, down to 11.3 claims per 1000 workers compared with 12.19 in 2005/06.

"We have a combined package of safe workplaces, low premiums and generous benefits for injured workers that puts us in the best overall position of any Australian scheme," Ms Rubin said.

Victorian workplaces recorded fewer than 30,000 injury claims in 2006/07, and paid claims worth more than $1.1 billion.