REGINA — The Saskatchewan Workers’ Compensation Board (WCB) shared its 2025 results at its annual general meeting today, held virtually.
Members of the board and executive team provided an overview of the organization’s financial, strategic and operating highlights, including 2025 workplace injury and fatality statistics.
“At the WCB, protecting Saskatchewan’s workers and employers is central to everything we do,” said WCB CEO Phillip Germain.
“Our strong funding position reassures workers and employers that their needs will be met. Reporting a solid funded position and sufficiency ratio enables us to continue working alongside partners across the province to prevent injuries, restore abilities and make Saskatchewan workplaces safer every day.”
The WCB’s sufficiency policy sets a target range for the sufficiency ratio of between 100 and 140 per cent. In 2025, the WCB remained fully funded, with a sufficiency ratio of 123.5 per cent, compared to 137.5 per cent in 2024.
Financial highlights of the WCB’s 2025 results included:
- Claim costs were $362.7 million in 2025, up from $255.0 million in 2024. Between 11 and 15 per cent of all claims in the province continue to be serious injury claims, which make up more than 80 per cent of the costs to the Saskatchewan compensation system.
- The WCB reported premium revenues of $378.6 million in 2025, up from $355.8 million in 2024.
- The WCB reported investment income of $205.0 million in 2025, down from $284.6 million in 2024. In 2025, the investment portfolio had a return of 8.6 per cent at market, compared to a return of 12.9 per cent in 2024. Investment income includes realized income and unrealized gains or losses on investments during the year and can fluctuate significantly year to year to reflect the change in the market value of investments.
- The WCB covered 29,742 more full-time equivalent workers in 2025 compared to 2024.
- In 2025, the WCB reported a net income of $18.7 million. This compares to net income in 2024 of $190.7 million. This includes the WCB’s Business Transformation Program costs of $46.4 million.
The WCB invested significant energy and resources during 2025 in advancing its Business Transformation Program, according to a press release.
By the end of 2025, the WCB had completed 11 of the 12 projects that make up the program, with the most significant achievement in 2025 being the implementation of the new employer accounts system and a portion of the WCB’s secure online account for employers.
Injury data highlights in 2025 included:
- In 2025, 89 per cent of Saskatchewan workplaces reported zero injuries or fatalities, just slightly below the 90 per cent of workplaces with zero fatalities and zero injuries in 2024.
- The 2025 total injury rate and time loss injury rate hit the lowest levels in the province’s history. The total injury rate decreased by 5.88 per cent to 3.68 injuries per 100 workers from 3.91 per 100 workers in 2024. The time loss injury rate in 2025 was 1.66 per 100 workers, a 3.49 per cent decrease from 1.72 in 2024.
Through its WorkSafe Saskatchewan partnership with the Ministry of Labour Relations and Workplace Safety, the WCB continued to implement the 2023-28 Fatalities and Serious Injuries Strategy, the release states. The strategy focuses on reducing fatalities and serious injuries – the most harmful and costly injuries in the province. The strategy identifies the highest-risk sectors of health care, transportation and construction that account for the largest number of serious injuries.
“While Saskatchewan’s workplace injury rate continues to decline, each incident still has a profound and lasting impact on families, coworkers and workplaces,” said Germain. “Only by collaborating with workers, employers, safety associations, labour and industry partners can we eliminate all workplace fatalities and make every workplace safe for each worker in the province.”
For more information on these results, the WCB’s 2025 annual report is available online at wcbsask.com/corporate-plans-and-annual-reports.
