WorkCover Queensland’s net premium fell 13.6% to $1.3 billion in the year to June 30, according to the 2014/15 annual report.

This reflects the authority’s lower target premium of $1.20 per $100 of wages, compared with $1.45 the previous financial year.

Net claims were static at $1.2 billion for the year, while investment income was down to $206 million from $356 million.

This, along with other expenses, produced an operating result of $240 million, compared with $469 million the previous financial year.

Gross statutory payments totalled $761 million for the year, up from $739 million the previous financial year. Gross common law payments were $499 million, down from $507 million.

The total number of claims was 78,966, down from 82,573 the previous year.