NIB Stadium will next year be rebranded as HBF Park after WA’s biggest health insurer took over naming rights at Perth’s home of soccer and rugby.

HBF said it struck the agreement to make good on expectations that the fund would “be a force for good in the local community”.

The rectangular field will join HBF Stadium in Mt Claremont and HBF Arena in Joondalup in the insurer’s portfolio of sponsored sports venues.

“This is a site where West Australians have played and competed for over 100 years.

“We think it’s appropriate that it carries the name of a proudly Western Australian organisation,” HBF chief John Van Der Wielen said, in a nod to nib’s east coast heritage.

The value of the deal was not disclosed but Mr Van Der Wielen said it was “modest” compared with other corporate sponsorships in WA and a small outlay relative to the $4 million HBF paid out in benefits each day.

The deal was brokered by the WA Government’s sports venue arm VenuesWest. “HBF’s existing support of VenuesWest facilities, HBF Stadium and HBF Arena, has seen a boost in the number of HBF members using the facilities,” VenuesWest chief executive David Etherton said.

WA Sport and Recreation Minister Mick Murraythanked HBF for its “ongoing support and commitment towards sport and health in Western Australia”.

“This agreement will help the State Government support high- performance sport, grassroots clubs, and enhance our facilities for the thousands of Western Australians who attend venues each year,” he said.