Shares of NIB Holdings (ASX:NHF) rise as much as 7.3% to A$8.585, reaching their highest level since July 11.

The health insurance provider is poised for its best day since August 22, 2022 if the gains sustain.

NIB Holdings has posted a FY net profit after tax (NPAT) of A$191.1 million, indicating a climb of 42.8% from the previous year.

The company has also declared a fully franked final dividend of 15 Australian cents per share.

This brings the stock up 3.2% for the year, as of the last close.

NIB Holdings is an Australian health insurance provider witnessed a significant rise in their shares.