Skip to content

2023 Annual Report Now Available

We've released our 2023 Annual Report.

In his letter accompanying the financial report, our President & CEO Vernon Steiner discusses our organization’s long-term claims successes, safety equipment grants, industry-beating customer satisfaction scores, and more.

Important financial results for the 2023 calendar year include:

  1. Earned premiums of $1,140 million
  2. Combined ratio of 83.7%
  3. Net income of $623 million

Read the full report.


State Fund is California’s leading provider of workers’ compensation insurance. Not for profit and funded solely by premiums and investment income, we’ve supported California’s entrepreneurial spirit and played a vital role in the state’s economy for more than 100 years. By innovating in areas such as workplace safety and injured worker care, we’re committed to providing reliable workers’ compensation coverage—plus a whole lot more—for the next 100 years as well. To learn more or get a quote, visit or contact your broker.