underwriting syndicate
noun[C]
ukusSTOCK MARKET
agroupoffinancialorganizationsthatunderwritesnewshares,bonds, etc.:
The non-governmentbondswill besoldthrough afullauctionon the Tokyomarket,ratherthan through anunderwritingsyndicate.
INSURANCE
agroupofpeopleorcompaniesthatunderwritesinsurancepoliciesandpaysoutmoneyincasesofdamageorloss:
It is not really aninsurancecompany, but asocietyofmemberswhoformunderwritingsyndicatestoacceptrisk.