** Shares of Australia's NIB Holdings NHF.AX rise as much as 2.8% to A$6.085

** Stock set for its strongest session since late-Sept, if gains hold, and hits highest levels since Oct 18

** The insurer says its Australian residents' health insurance operation has shown robust growth

** Says business has displayed strong fundamentals at a time when Australian households face rising cost-of-living crisis

** NIB Holdings stock down 18.54%, YTD

(Reporting by Namrata Verma in Bengaluru)

((Namrata.Verma@thomsonreuters.com))