A global broker is in talks to buy Bristol-headquartered Jelf Group, the £83m-turnover provider of insurance, financial and employee benefit services.

The listed company confirmed that it has opened discussions with Marsh about a possible deal.

In a statement, it said talks were at an "early stage" and that there was "no certainty that any offer will ultimately be made for Jelf or as to the terms of any such offer".

Marsh, a subsidiary of Marsh & McLennan Companies, employs more than 27,000 staff and operates in 130 countries worldwide.

It is required to submit a formal offer for Jelf no later than 16 September 2015.

Jelf, which is being advised by Fenchurch Advisory Partners, said it would issue a further statement when appropriate. Its market capitalisation is currently about £175m.

The group recently acquired Hertfordshire insurance broker Libra Insurance Services for an undisclosed sum.

Jelf reported turnover of £43.7m in its interim results for the six months to 31 March 2015, up on £39.3m in the same period of 2014.

Earnings before interest, taxation, depreciation, amortisation and exceptional costs (EBITDAE) also rose to £7.3m from £5.9m, while pre-tax profit increased from £2.3m to £2.8m.