** Shares of insurance broker giant Marsh McLennan MMC.N fall 4.74% at $223.03

** Posts Q1 underlying rev growth of 4% vs rise of 7% in Q4

** Reports Q1 Risk & Insurance Services revenue of $4.8 billion vs $3.6 billion in Q4

** "We expect MMC shares to underperform today on miss in RIS that included slowing organic" - Jefferies

** However, Q1 adj. profit of $3.06 per share beats estimate of $3.02

** Brokerage TD Cowen says Q1 EPS beat expectations even as overall underlying revenue growth slipped

** As of last close, stock up ~4.04% YTD

(Reporting by Megha Kumari)

((Megha.Kumari@thomsonreuters.com;))