[f. UNDERWRITE v.1]
† 1. A subscriber to, or shareholder in, a mercantile venture. Obs.
1616. in Buccleuch MSS. (Hist. MSS. Comm.), I. 250. For your venture in the East India Company I know not what to say…. It’s thought the King might do well to call to all the underwriters for a supply.
2. One who underwrites an insurance policy; spec. one who carries on an insurance business, esp. of shipping.
1622. Malynes, Anc. Law-Merch., 166. The later vnderwriters of the Assurors do not beare any part of the losse, but make restitution of the Premio.
1713. Steele, Englishm., No. 53. An Abuse crept into the World for the Advantage of the Under-writers.
1791. Bentham, Panopt., 71. He would get underwriter’s profit by me; but let him get that and welcome.
1833. Marryat, P. Simple (1863), 281. The plate presented me by the merchants and underwriters of Lloyd’s.
1874. Burnand, My Time, vii. 65. The fearful gales … had resulted in serious losses to the underwriters.
† 3. One who appends his name to a writing; a subscriber. Obs.
a. 1639. Wotton, in Reliq. (1651), 458. I have now no more to say, but that while the foresaid report shall be false, The under-writer is Truly yours H. Wotton.
4. A subordinate writer or clerk.
1654. Taylor, Real Pres., 288. Part of these words which Bellarmine, and from him the under-writers object.
c. 1710. Celia Fiennes, Diary (1888), 262. Under them is the 60 Clerks and other under writers.
5. One who engages to take up a certain number of company shares (see UNDERWRITE v.1 4 b.)
1889. Lindley, Company Law (ed. 5), Index s.v., Difference between underwriter and person agreeing to place shares.
1897. Times Law Rep., XIII. 570. If … underwriter substitutes could not be procured, the Globe Company remained underwriter.
