Australian insurer nib has acquired Connect Plan Management and announced its intent to acquire All Disability Plan Management.

The insurer has been expanding its scope in Australia's National Disability Insurance Scheme, and the acquisitions will bring its total number of NDIS businesses to four, and is considering further acquisitions in the space.

nib also expects to manage plans for around 50,000 NDIS participants by FY25.

Its share price is up 0.50% the past five days.